OK, wake up. WAKE UP! WAAAAAAKKEEEEE UP! I'm not sure if the markets ever actually opened today or if there was some sort of new holiday our fearless leader enacted that I was not aware of. Maybe something to celebrate the stellar employment numbers or possibly the fantastic retail sales coming tomorrow? You know, we really have so many financial blessings to be thankful for. I'm really thankful they have morgaged our country's future to save the TBTF's! Without them, where would we be? It's a damn good thing the rescission is over and we are not in a depression! Phew, I feel better now.
Shooting for another sentence from Zero Hedge - Here it goes - Focusing On (And Profiting From) The Upcoming Chinese Financial Crisis we are Sorry, The Upper Class Will Not Pull The US Economy Out Of The Depression but it looks like Retail Sales To Disappoint, Risk At Risk Again. Not as good as the last one, but you get the drift. The best read there is David Rosenberg's 2010 Outlook "The Recession Is Really A Depression"
Keying from Rosie's Depression post, I'll move along with One in Four Children on Food Stamps, One in Eight Overall; Weekly Unemployment Claims Tick Up from Mish which also covers the employment numbers nicely. Sounds like more statistics the government does not want you to know. I somehow missed the O covering this topic in his last speech. Well, at least we know he is expanding his voter base! Zero Hedge has this lovely visual on the employment situation (since we're covering things you are not supposed to see - Emergency Jobless Insurance Claims Surge By Most Ever In Prior Week
naked capitalism has Effort to Reform Finance Instead Turning into a Coup by Bankster. You see, they are taking control of your TV set. Do not touch the dials. Do not attempt to adjust the antenna. You have no control (actually no one has control but the big dog GS). So they are now writing their own runes. BRILLIANT!
And to continue that disgusting thought Washington's Blog has Financial Reform Is Being Gutted ... And Congress Might Not Even Realize It "From what I’m hearing, it is possible Frank doesn’t even know that this language, once in the bill as an amendment but removed, has snuck back into his reform legislation. Things are moving very quickly on the hill right now, and this is scheduled to be wrapped up by tomorrow. However this new language runs counter to the reforms Frank has promised to deliver to the American people. Either this language needs to be clarified before the bill is complete, or removed entirely." As often as I am having to call them to complain, I have just decided to keep my reps on the speed dial.
I'm depressed - Ha! Get it - Depressed. Not really, but we all should be cause that is not a light at then end of the tunnel headed our way.
GL and happy holidays!