I see acceleration.
Continuing.
When the history of this real estate bubble (and that is what this is in all it's mundane glory) is written Barack Obama's constant warnings and fear stoking to get his bill passed, and Bush's initial Paulson induced panic will weigh heavily in creating an atmosphere in which both managers, fearing for their balance sheets next quarter laid people off, and people in their homes, stopped spending, and the banks WITH $ stopped lending.
The emotional component of this (as in all) bubble(s) is what took this from a momentary heart skipping alert to a serious, correctible problem, to a world shaking threat to deflationary disaster, all queued by the USA and it's leaders.
We lead.
We have all that flows from that.
Right now I see nothing to indicate anything other than worsening as the cycle which is easily begun with hysterical reaction and warnings about cataclysm, are not so easily tamed by claiming a 'turning point' over a good Bordeaux with your buds.
In a couple of hours we'll have the numbers.
UPDATE: We lost 663,000 more jobs. 742,000 last week..almost 3 million jobs a month.
US workforce size is ~154 million.
Unemployment is increasing at 2% per month THIS MONTH, right now.
Continuing.
When the history of this real estate bubble (and that is what this is in all it's mundane glory) is written Barack Obama's constant warnings and fear stoking to get his bill passed, and Bush's initial Paulson induced panic will weigh heavily in creating an atmosphere in which both managers, fearing for their balance sheets next quarter laid people off, and people in their homes, stopped spending, and the banks WITH $ stopped lending.
The emotional component of this (as in all) bubble(s) is what took this from a momentary heart skipping alert to a serious, correctible problem, to a world shaking threat to deflationary disaster, all queued by the USA and it's leaders.
We lead.
We have all that flows from that.
Right now I see nothing to indicate anything other than worsening as the cycle which is easily begun with hysterical reaction and warnings about cataclysm, are not so easily tamed by claiming a 'turning point' over a good Bordeaux with your buds.
In a couple of hours we'll have the numbers.
UPDATE: We lost 663,000 more jobs. 742,000 last week..almost 3 million jobs a month.
US workforce size is ~154 million.
Unemployment is increasing at 2% per month THIS MONTH, right now.
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