We are in big trouble. 344,000 jobs went to part time status unemployment hopped to 7.8 and intest on the 10 year bill went to 2.71 This equates out to a blood bath for the FED Everytime that 10 year bill goes upp the FEd is losing money at an incredible rate. Billions to be precise . The FED is losing billions on a daily basis now. 2.5 weeks ago the FED went in solvent. The medicine became the poison that is all I can say
I vacated the stock market today. There is no way this mrket can be sustained with the 10 year not at 2.71 percent. Gasoline prices are falling and that is due to lack of consumption.
Lumber prices are falling not because we have a big demand for housing
Europe and China is off the GRID
I heard today from someone at US bureau of Labor and Statistics the unemployment rate is alot higher. The discussion off the record is as follows.
The way they determine unemployment rates is by only counting the people who are receiving benefits. that excludes everyone else without a job. the real number is over 17% of America is unemployed.