Frequent content contributor GG sent this Los Angeles Times article: Early retirement claims increase dramatically
Cities disincorporating? Towns Rethink Self-Reliance as Finances Worsen. (Thanks to GRK for the link.)
I found this linked at The Drudge Report: IRS tax revenue falls along with taxpayers’ income
Items from The Economatrix:
Carmakers’ Woes May Cost Six Million Jobs
Oil Down to Around $61 Ahead of OPEC Meeting
Stunning Reversal: Russian Economy Shrinks 23%
Is the US Dollar Heading for a Mighty Crash?
The Credit Default Swaps Cancer Inflicting the Financial System “CDS is the root-cause of systemic risk which connects hundreds of financial institutions together in a lethal daisy-chain that threatens to crash the entire system if one of the main players goes under.”
Stock Market Rally Over, Prepare for New Bear Lows ” …it would appear that a sizeable proportion of the TARP (Troubled Asset Relief Program) funds not thus far deployed have been used to drive up the stock markets in order to create a positive environment for the banks to issue secondary shares and thus raise equity. While this is perfectly understandable, it also means that once the banks have finished selling this stock to the public, or the market is simply exhausted by being soaked in this way, it is likely to go into reverse in a big way.”
Marty Weiss: Memorial Day Disaster–Foreigners Dumping Dollar Assets, Stocks & Bonds
Stock Market Rally Red Flags
Fed Admits No Credit Crisis, Bailout, TARP Exit Strategy
Global Debt Deleveraging Recession Gets Worse as Government Deficit Grows
GM Says Bond Offer Fails, Bankruptcy Likely
Chrysler in Court For Key Bankruptcy Hearing
Survey: Most Economists See Recession End in ’09 (Gee, you’ve gotta give them points for their optimism. Perhaps they think that Disco will also make a comeback, later this year.)