Thursday, August 18, 2011 – 09:25 a.m.

What a shocker!

The U.S. Department of Labor revised it’s estimate of first time claims from last week.

The very same number investment markets rallied on.

The number of first-time claims was revised upward from 395,000 to 399,000. The original estimate was for 400,000.

This week the number was back above 400,000 at 409,000. The estimate was again 400,000.

Combine the bad unemployment numbers with another dismal drop in home sales and bad inflation numbers and wha-la, another major market sell-off.

Does anyone really believe the economy is improving?

Expect more bad news in the coming weeks.