DD sent this article: 23 metro areas where the recession is finally coming in for a landing [1]. 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 [2]. 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 [3] “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 [4]. “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 [5]