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Wednesday, June 24, 2009

unemployment rising

Personal Economic StressInstead on an economic recovery, what I see is an economic ruin. People, we are looking at double digit jobless rate this year. No, not next year in 2010, but right now.

All this talk of green shoots, is so foolish. When people lose their jobs they cannot pay their mortgage, so it means even more foreclosures and lower prices for homes. This means more banks will fail. The outlook is very grim.