... WSJ 8.13.10 The jobs picture is much worse than they're telling you. Forget the "official" unemployment rate of 9.5%. Alternative measures? Try this: Just 61% of the adult population, age 20 or over, has any kind of job right now.
online.wsj.com
And lest I forget ... I have come down, in despair, at this point - in posting the Mogambilious Guru ...
Mogambo Guru 8.13. 10
Mark Lundeen, in his weekly Race to the Bottom newsletter, looks at the surprising new yield gap between municipal bonds and Wall Street’s best-grade bonds since 1937, and writes, “Since 1937, Muni Bonds have paid less than Corporate Bonds because of lower risks,” but now, for the first time since 1937, “seeing Muni yields spike up above best grade Taxable Corporate Bonds is telling us that someone is selling their Muni Bonds, while they still can.”
So, given the fact that “the current yield gap between muni bonds and best grade corporate bonds is historic,” having never happened before since 1937, his interpretation of the facts suggests, “another American default credit crisis and derivative blowup is not far away.” Yikes! |
