Economics and Investing:

DD sent this article: 23 metro areas where the recession is finally coming in for a landing. It includes a fascinating animated state-by-state map showing waves of recession since 1994. Pay no attention to their conclusions about incipient recovery. They are dreaming! The current recession is not a typical dip in the business cycle. It was caused by a collapse of the global credit market. This will last a long time, and may very well become a full-blown depression.

Reader KAF flagged this: CIT collapse could ripple through retail industry. They are already begging for a Federal bailout.

SurvivalBlog regular Karen H. sent us these links:

Obama’s Stimulus Plan Slow to Trickle Through Economy “For the moment, the initial measure has shown little impact. The net worth of households has fallen almost 22 percent, by almost $14 trillion, since 2007, to the lowest level in five years.”

California’s budget gap won’t close for long. “It will be horrible next year,” said economist Steve Levy of the Center for the Continuing Study of the California Economy.

GG spotted this Tass news agency article: Russia’s GDP reduces by over 10% in 1st half 2009