HPD mentioned a piece in Mish’s Global Economic Trend Analysis: Bartering Services to Combat the Recession [1]
David V. sent this: Social Security Bomb About To Explode [2]
Items from The Economatrix:
Economic Crisis: No End In Sight; Worse Than The Great Depression [3]. “Today five US banks according to data in the just-released Federal Office of Comptroller of the Currency’s Quarterly Report on Bank Trading and Derivatives Activity, hold 96% of all US bank derivatives positions in terms of nominal values, and an eye-popping 81% of the total net credit risk exposure in event of default.” (JPMorganChase, BofA, Citibank, Goldman Sachs, HSBC, Wells Fargo/Wachovia, which really makes Wells Fargo’s “profit” highly suspicious.)
Top Five Financially Happy States [5].
America’s 20+% Unemployment Rate [6]
Geithner, Paulson Named in $200 Billion Lawsuit [7]. The class action lawsuit filed in Federal court in Los Angeles is a “wide reaching” claim that will do what Congress cannot…”
Positive Signs Stir Hopes Crisis is Bottoming Out “Government examinations of the finances of the nation’s largest banks – the so-called stress tests – are finding the weakened banking system in better shape than expected…” Playing on a well-known saying, you can’t just be a “little bit bankrupt.” You are or you aren’t.
New Jersey Bank to Return Bailout, Sixth One to Do So [8]
Job Cuts Needed to Stop New York City Bankruptcy [9]
1st Time Jobless Overwhelm Job Center [10]
Federal Budget Deficit Sets March Record, $192.3 Billion [11] (Significantly higher than the $150 Billion that economists expected)