World Bank could run out of money ‘within 12 months’. (Thanks to Chris H. for the link.)
Don W. flagged a New York Times piece: Too Rich to Worry? Not in This Downturn. JWR’s comment: When even the uber-wealthy feel the pinch, then it is clear that this is not just a typical market cycle-triggered recession!
Items from The Economatrix:
Stocks Fall Following Disappointing Jobs Report
[Official] Jobless Rate Reaches 9.8% in September
Jobs Data Sends Oil Prices Tumbling Below $70
Banks Have Us Flying Blind on Depth of Losses
Banks With 20% Unpaid Loans at 18-Year High Amid Recovery Doubt
Stiglitz Deflation Threat Pushes Fed to Stay at Zero
US Unemployment Expected to Hit 26-Year High
Form the ever-cheery Ambrose Evans-Pritchard: Does Money Contracting Signal Serious Trouble?
Factories’ Growth Slow, Jobless Claims Rise