State Unemployment Data: 7 States Now With Historical High Unemployment Rate. Michigan 22.8 Percent Unemployment Rate (U-6) with Official Government Data.
There have been many comparisons to the past with our current recession. For the most part, people are trying to find something familiar so they can have a better sense of where we are heading. The only problem is that there isn’t much in our own history to guide us forward. This is a unique […]
Following the Failed Japanese Economic Playbook: 10 Charts Comparing the Japanese Lost Decade to the United States.
Even as early as last year, anyone trying to compare the circumstances of the United States with the lost decade in Japan appeared to be out of line with mainstream economist and the media. Yet if this financial crisis has taught us anything, it is that the experts can be wrong by a wide margin. […]
24,700,000 Unemployed or Underemployed Americans: Job Losses Accelerate with 6 million unemployed over last year. Real Unemployment rate now at 15.8 Percent.
It is hard to believe what is taken as good news. 539,000 jobs were lost in April yet this was taken as a positive because it wasn’t 600,000. Forget about the fact that the revised number for March was moved upward to 699,000 from an initial 663,000. So it may be the case when the […]
FDIC Insures $4.7 Trillion in Deposits with a $13.6 Billion Deposit Insurance Fund. This is Like Going into a Hurricane with a 99 Cent Store Umbrella.
On Friday, three banks failed and the FDIC took them over. Now this isn’t the big news necessarily. What it significant is that one of the banks taken over was Silverton Bank of Atlanta, Georgia. Silverton bank has $4.1 billion in assets and will cost the FDIC $1.3 billion from their dwindling insurance fund. This […]