Reader Paul W. forwarded this piece over at Real Clear Markets: Get Ready for 14 Percent Unemployment
GG sent this Wall Street Journal article: Big Banks Don't Want California's IOUs
DD sent us four articles on unemployment:
Unemployed fighting for their benefits
A map of weekly unemployment benefits by state and current unemployment rate by state
Low income families turning to outside sources to help with necessities
Retailers to lay off more workers
Karen H. also sent us another raft of articles:
Migrants are going to Britain, come hell or high water. "Gazing across the Channel in the direction of the white cliffs of Dover, Amir Gul stood on Calais beach and imagined himself on the other side - and living the dream that has brought him 3,500 miles from Afghanistan."
G8 days numbered? "The Group of Eight industrialised powers, ineffectual in the face of the worldwide finance crisis, is slowly losing its grip on the global economy and now faces calls for its abolition."
Debt Burden Quickens Power Shift as G-8 Loses Clout. “Different countries are pulling in different directions and that is, I think, quite troubling,” said Niall Ferguson, a history professor at Harvard University in Cambridge, Massachusetts. The uncoordinated response is “one of the classic symptoms of a global crisis.”
U.S. Home-Equity Loan Delinquencies Set Record in First Quarter
U.K. Factory Output Unexpectedly Dropped in May. "The recovery is not yet “guaranteed,” the British Chambers of Commerce said today, as rising unemployment in the U.K. and around the world threatens to prolong the worst global slump since World War II. Today’s U.K. manufacturing report comes two days before the Bank of England decides whether to continue its program of buying assets with newly printed money. "
An interesting link for keeping up with Chapter 11 Bankruptcy filings
Items from The Economatrix:
401(k)s as Dangerous as the Dollar Get your money out of 401(k)s now!
Calls Grow to Supplant the Dollar as Global Currency
Peter Schiff: An Obama Speech, Debt and China
South Korea to Buy Gold, Expecting it to Replace Dollar
Gold Could Shoot Through $1,000 if China Shifts Away from US Treasuries
Jobs Data Bodes Ill for the Future
How Bad Are Auto Sales? 10 Questions and Answers
A Goldman Trading Scandal?
Celente: Some Major Trends Forecast
