From Eric S.: 24,700,000 Unemployed or Underemployed Americans: Job Losses Accelerate with 6 million unemployed over last year. Real Unemployment rate now at 15.8 Percent [1].
Also from Eric: FDIC Insures $4.7 Trillion in Deposits with a $13.6 Billion Deposit Insurance Fund. This is Like Going into a Hurricane with a 99 Cent Store Umbrella [2].
Items from The Economatrix:
UK House Prices Continue To Plummet [3]
401(k)s Hit By Withdrawal Freezes [4]
Global Crisis “Vastly Worse” Than 1930’s, Taleb Says [5] “The global economy is facing “big deflation,” though the risks of inflation are also increasing as governments print more money, Taleb told the conference organized by Bank of America- Merrill Lynch. Gold and copper may “rally massively” as a result, he added.”
Obamarket Update #74: You Want Stress? I’ll Show You Stress [6]
Bond Market: Why You Should Be Worried [7] ” …the last thing we need right now is a collapse in the bond market. Unfortunately, it could be just around the corner…”
Boomers’ Retirement Bummer [8]
Small Business: Economic Recovery? What Recovery? [9]
State Budget Gaps Widen as Revenues Fall [10]
Mike Whitney: Economy On The Ropes [11]
Rural Town Feel Downturn’s Ripple Effects as Jobs Vanish in Northern Virginia [12]
States Resort to Furloughs as Need for Services Increase
Bankrupt Banks [13]