D.S. also recommended an Op-Ed piece by Paul Krugman in The New York Times: Green Shoots and Glimmers
Kern County, California unemployment jumps to 15.9 percent. (Thanks to JWP for the link.)
Krys in Idaho sent us this article. US regulators close American Sterling Bank. Krys’s comment: “In case anyone’s counting, that’s an average of almost 1.5 banks closed every week so far this year. It is only April, yet we’ve already almost reached 2008’s tally of 25 bank closures for the year.” And reader Sparkey mentioned: “…you may note that it is headquartered in Elko, {Nevada] the center of the gold mining industry. The fact that the local economy is booming did not keep this bank afloat.”
Items from The Economatrix:
The American Mood: is the Angst Over the Economy Bottoming Out?
The International Monetary System Breakdown Underway
Citigroup Beats Forecasts as Sales Rise 99% “Today’s positive headline figure, however, strips out losses on bad debts and the huge costs of paying dividends to preferred shareholders. With these numbers included, the bank [had] a $966 million loss.” [Emphasis added.]
IMF Predicts Long, Deep Global Recession JWR’s comment: IMHO, “Long, Deep and Global” would be better characterized as a depression, not a recession
Sony Ericsson, Toshiba to Cut Nearly 6,000 Jobs
Obamarket Update #60, 61 & 62: You want me to eat what? “The full court propaganda press has the Dow back up over 8,100 today but as you shall see, this is on very shaky ground going into options expiration and our lives, our future is akin to riding a pogo stick in a minefield; we’re one bounce away from ‘KABLOOEY’ but the spinmeisters insist that they have found a clear path through the troubles (of course they did, they took a helicopter at tax payer expense).”