Here’s wishing everyone a painful and dread-filled 2010.
For those of you who failed to adopt the new calendar system I promulgated on October 29, 2009, and I recognize there are still a few of you stragglers out there, I offer New Year’s greetings. Not the empty, sanitized, happy-face type you’re used to receiving, but the truthful kind. The kind that say, the only real question for 2010 is just how much further up your ass the boot will go.
2010 will suck. And if you don’t see today on the last day of 2009 that 2010 will suck. That’s okay. The eye doctor will reopen at 9 a.m. on January 4 and will be happy to see you. In any case, by mid-2010, that we are still in this depression, or, Great Revulsion, and that it is not over, will be plain to even the most myopic corporate media devotee, provided they get out and about just long enough to see, smell, and hear their townsfolk huddled around rusting 55-gallon steel drums, roasting rats on street corners.
Eh. What the hell. I’ll wish everyone a Happy New Year. But you won’t have one. That is. If your life is tied to the economy and you think inside the box.
January 4th, 2010 at 12:43 pm
U.S. growth prospects deemed bleak in new decade
January 5th, 2010 at 9:13 am
Americans’ job satisfaction falls to record low
January 5th, 2010 at 9:16 am
Personal Bankruptcy Filings Rising Fast
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Pending home sales fall 16 percent in November
Rear view both. And not.
January 6th, 2010 at 9:11 am
Regional Mall Vacancies in U.S. Rise to Record
January 8th, 2010 at 11:46 am
Record 40% Of Unemployed Without Job For 27+ Weeks
January 8th, 2010 at 2:19 pm
Consumer Credit in U.S. Declined in November by Most on Record
January 8th, 2010 at 2:21 pm
U.S. Office Vacancy Rate Hits 15 Year High at 17 Percent
January 8th, 2010 at 4:41 pm
Jobs gloom hits west’s recovery hopes:
“Grim jobs market reports on both sides of the Atlantic on Friday highlighted the ongoing human cost of the credit crisis and kept alive concerns over the sustainability of the [non-existent, sham, fraud] recovery.”
January 11th, 2010 at 10:11 am
America slides deeper into depression as Wall Street revels
January 12th, 2010 at 9:49 am
Even when the U.S. labor market finally starts adding more workers than it loses, many of the unemployed will find that the types of jobs they once had simply don’t exist anymore.
January 12th, 2010 at 2:58 pm
Job seekers outnumber openings by more than six to one
January 12th, 2010 at 3:00 pm
How nation’s true jobless rate is closer to 22%
January 14th, 2010 at 8:49 am
Retail sales sink, jobless claims rise:
“Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.
In another disappointing economic report, the number of newly laid-off workers requesting unemployment benefits rose more than expected last week as jobs remain scarce.”
January 14th, 2010 at 8:54 am
Record year for foreclosures as unemployment rises:
“A record 2.8 million households were threatened with foreclosure last year, and that number is expected to rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages.”
January 20th, 2010 at 1:27 pm
Current ratings of consumer confidence are in full retreat this month after moving ahead in December – and a separate measure finds expectations for the future worsening.
January 20th, 2010 at 1:31 pm
U.S. home builder sentiment unexpectedly fell in January to the lowest level since June on concerns over the weak labor market and high foreclosure volume, according to a survey on Tuesday.
January 21st, 2010 at 7:45 am
First-time claims for state unemployment benefits jumped unexpectedly by the largest amount in eight months, the Labor Department reported Thursday.
January 23rd, 2010 at 11:19 am
State Unemployment Data Darkens Jobs Picture:
“43 states and the District of Columbia saw their unemployment rates increase from November to December, many significantly. This is a major change-in-direction from November’s good news, when 36 states saw their unemployment rates decline.”
January 23rd, 2010 at 11:21 am
U.S. Retail Credit Card Defaults Hit Near-Record Levels with No Relief in Sight
January 25th, 2010 at 8:52 am
Home Sales See Biggest Monthly Drop in 40 Years
January 27th, 2010 at 9:27 am
New home sales fall 7.6% to 9-month low
January 27th, 2010 at 9:39 am
Airlines suffered record drop in traffic in 2009
January 27th, 2010 at 12:00 pm
Treasury one-month bill rates turned negative for the first time in 10 months, as issuance declines while investors seek the most easily-traded securities amid a renewal of risk aversion.
January 29th, 2010 at 10:01 am
Wages and benefits rise in 2009 by smallest amount on records going back 27 years
February 1st, 2010 at 2:55 pm
Double Dip Risk Rises After Inventory Blowout
February 3rd, 2010 at 4:07 pm
No Help in Sight, More Homeowners Walk Away
February 4th, 2010 at 11:19 am
Initial Jobless Claims in U.S. Unexpectedly Climbed
February 4th, 2010 at 11:26 am
Poof: Another 800,000 jobs disappear
“As bad as the government’s jobs readings numbers have been during the Great
RecessionRevulsion, we’ll soon find out the real situation likely was worse”February 4th, 2010 at 11:29 am
U.S. business bankruptcy filings rose 7 percent in January from a year ago
February 5th, 2010 at 5:47 pm
The Federal Reserve would consider reopening its program to support the mortgage market if interest rates spiked or the economy showed new weakness, Federal Reserve Bank of New York President William C. Dudley said in two new interviews.
You don’t say.
February 8th, 2010 at 11:17 am
Rash of retirements pushes Social Security to brink:
“Social Security’s annual surplus nearly evaporated in 2009 for the first time in 25 years as the recession led hundreds of thousands of workers to retire or claim disability.
The impact of the recession is likely to hit the giant retirement system even harder this year and next.”
February 9th, 2010 at 9:48 am
No Exit in Sight for U.S. As Fannie, Freddie Flail
February 9th, 2010 at 9:58 am
How a New Jobless Era Will Transform America
February 10th, 2010 at 9:08 am
Truckers index drives US GDP fears:
“An index that measures the health of the US economy by analysing real-time diesel consumption of trucks has cast doubt on the strength of the economic recovery after recording a sharp decline in January.”
February 10th, 2010 at 9:10 am
One in five US mortgages “underwater” in Q4
February 10th, 2010 at 9:13 am
Job openings plunged by one-quarter last year
February 10th, 2010 at 10:36 am
Reversal of fortune: After trend of rising prices, some housing markets see about-face
February 16th, 2010 at 6:07 pm
Foreclosures Seen Still Hitting Prices
February 17th, 2010 at 11:38 am
New wave of foreclosures by end of 2010 is feared
February 17th, 2010 at 11:43 am
Rising tide of suburban homeless across U.S.
February 17th, 2010 at 11:43 am
[T]he delinquency rate on commercial mortgage-backed securities (CMBS) conduit and fusion loans posted the largest single monthly increase on record. US CMBS loans are also transferring to special servicing status faster and greater than ever before.
February 18th, 2010 at 9:12 am
Producer Prices in U.S. Increase More Than Forecast
February 18th, 2010 at 9:12 am
The number of Americans filing first-time claims for unemployment insurance unexpectedly increased last week, pointing to an uneven recovery in the labor market.
February 18th, 2010 at 12:20 pm
Bank lending in the US has contracted so far this year at the fastest rate in recorded history, raising concerns that the Federal Reserve may have jumped the gun by withdrawing emergency stimulus.
February 21st, 2010 at 8:09 pm
Millions of Unemployed Face Years Without Jobs
February 23rd, 2010 at 2:47 pm
Nearly 20 percent of the U.S. workforce lacked adequate employment in January and struggled to make ends meet with reduced resources and bleak job prospects, according to a Gallup poll released on Tuesday.
In findings that appear to paint a darker employment picture than official U.S. data, Gallup estimated that about 30 million Americans are underemployed, meaning either jobless or able to find only part-time work.
February 23rd, 2010 at 4:41 pm
Consumer confidence fell sharply in February as Americans turned more pessimistic about job prospects and the U.S. economy, the Conference Board reported Tuesday.
February 24th, 2010 at 2:11 pm
Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.
February 24th, 2010 at 2:20 pm
Nearly 25% of all mortgages are underwater
February 24th, 2010 at 2:21 pm
At F.D.I.C., Bracing for a Wave of Failures
March 2nd, 2010 at 11:41 am
The number of Americans filing for initial unemployment insurance surged to just below the 500,000 level last week, and have climbed more than 12% over the past two weeks, the government said Thursday.
March 3rd, 2010 at 12:49 pm
More consumers file for bankruptcy protection
March 10th, 2010 at 2:41 pm
Unemployment rises in 30 states in January
March 23rd, 2010 at 8:05 am
Existing Home Sales Fall for Third Straight Month Raising Worries About Housing Recovery
April 1st, 2010 at 9:50 am
Construction spending falls to lowest level in 8 years; sore spot for the recovery
April 8th, 2010 at 7:04 am
Initial jobless claims increase unexpectedly
May 10th, 2010 at 11:50 am
Mortgage Holders Owing More Than Homes Are Worth Rise to 23%
June 29th, 2010 at 10:45 am
The exact mid-2010, calendar-wise, would be the end of June. Today Marketwatch has as a headline, “‘Double dip’ chatter brings global jitters.” DJIA presently off 260 points.
Do you know where your roasted rat smell is?
July 3rd, 2010 at 5:16 pm
The recession killed off 7.9 million jobs. It’s increasingly likely that many will never come back.
July 5th, 2010 at 1:44 pm
We now begin the second half of the year. And. We now have. Pervasive roasted rat smell. And perhaps now. Even the myopic are beginning to see.
With the US trapped in depression, this really is starting to feel like 1932:
“‘The economy is still in the gravitational pull of the Great Recession,’ said Robert Reich, former US labour secretary. ‘All the booster rockets for getting us beyond it are failing.’
‘Home sales are down. Retail sales are down. Factory orders in May suffered their biggest tumble since March of last year. So what are we doing about it? Less than nothing,’ he said.”
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Overly simplistic but pointing in the same direction:
Dow Repeats Great Depression Pattern
July 15th, 2010 at 2:07 pm
Banks repossess US homes at record pace
July 15th, 2010 at 2:08 pm
Fears grow as millions lose jobless benefits
July 20th, 2010 at 6:23 pm
Outside the Box: Double dip looking likely
Seven months later. And they call this “outside the box!”
August 4th, 2010 at 1:19 pm
The furloughs that popped up during the recession are being replaced by a highly unusual tactic: actual cuts in pay.
August 12th, 2010 at 9:47 am
Jobs picture dims as unemployment claims rise:
“The employment picture is looking bleaker as applications for jobless benefits rose last week to the highest level in almost six months.”
August 12th, 2010 at 9:52 am
Homes lost to foreclosure up 6 pct from last year
August 14th, 2010 at 6:18 pm
Jobless millions signal death of the American dream for many
August 18th, 2010 at 9:50 am
U.S. bankruptcy filings have reached the highest level since 2005, government data released on Tuesday show, as the economy slows and the unemployment rate hovers just below double digits.
August 23rd, 2010 at 8:35 am
“A record number of U.S. workers are tapping into their retirement accounts to make it through the economic downturn, Fidelity Investments found in a survey released Friday.”
August 30th, 2010 at 8:42 am
Government anti-poverty programs that have grown to meet the needs of recession victims now serve a record one in six Americans and are continuing to expand.
September 1st, 2010 at 11:35 am
Seven lean years: No recovery till 2016