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4/15/10 Midday Report: Tax day causes 53% of the US population to be pissed, other 47% pissed every day about being broke

|Includes:Alphabet Inc. (GOOG), MLNK, NTRI, UPS

Oh shit, just when the economy was looking better than a threesome with  Hayley Atwell and Alice Eve, new jobless claims for last week rose for the second week in a row and economists didn't have Easter to blame this time.  Well, actually they did, as a government analyst once again warned that the numbers could be skewed since Easter falls on a different day each year.  Wow, really?  You're going with that excuse again?  Umm, if Money McBags is correct the numbers are seasonally fucking adjusted and since calendars have existed since shortly after the fucking neanderthals were exterminated (which was caused by too much contaminated dinosaur meat since those smallbrained fuckers never learned how to fucking use fire), shouldn't that seasonal adjustment adjust for Easter?  Seriously, it's not like the day it fell on surprised anyone last year or this year (well, except for maybe Amy Winehouse or the hippocamus-ly challenged), so that excuse is lamer than Spectacular Bid or Boy Meets World reruns.  Claims rose by 24k to 484k which is the highest since late February and the highest since the Great Walmart Lockout of 2006.  There are still over 10MM people receiving some kind of unemployment benefit and since those benefits don't include being tucked in by Ashley Dupree (very NSFW, but required viewing), that's not good.  In other macro news, defaults doubled in the government's loan modification program which is weird to think that people who couldn't afford mortgage payments still can't, even at lower rates.  It's like being surprised that a kleptomaniac might want to steal again after being released from jail or that Tiger Woods is likely boning skanks again despite going to the laughable sex therapy (by the way, it's not called "sex addiction," it's called "having a penis").  In positive news, manufacturing production in the US gained as output of factories rose .9% with companies building back inventory while the Empire State manufacturing report demolished expectations.  The survey came in at 32%, well above the expected 24%, and Money McBags has no idea what that means other than beating expectations is good and at least New Yorkers have something to cheer themselves up about while watching the Mets.

Internationally, Greece is back in the news again trying to screw up something good we all had going with the markets.  It's like we'd been asking the markets out for 2 years, finally got her to come to dinner, got her home, and as we were about to inspect her large Sharpe ratios, the ruphies wore off.  So thank you Greece for scaring the markets again with your rising interest rate spread.  Of course there is more of a chance of the Laffer Curve being right than there is of Greece going bankrupt, so Money McBags will be buying at any big market dislocation caused by rumors of our Hellenic friends going to take a ride on the river Styx (though if they go to Styx, they should give a big "domo arigato" to Hades).

Also interntationally, China's economy is surging like William the Conqueror's popularity among the French in 1066.  GDP was up 11.9% from last year which is more bubble-icious than Gonzo Grape.  Not only that,..READ MORE....

Disclosure: Long Goog, Long MLNK