2009 Depression Validated

Headlines for April 2nd 2009

Geithner: U.S. bears ‘responsibility’


China Boosts Yuan Swaps, Store Payments as Dollar Concern Grows
www.bloomberg.com...

100,000 fewer online job ads posted in March
www.msnbc.msn.com...

What to do when you can’t pay your tax bill
www.msnbc.msn.com...

Kinder evictions in Illinois county
www.msnbc.msn.com...

Social Security clogged with disability claims
www.msnbc.msn.com...

For laid-off, a lesser problem: What to do today
www.msnbc.msn.com...

[edit on 4/1/2009 by Hx3_1963]

[edit on 4/1/2009 by Hx3_1963]

G20 Communique statement
www.foxnews.com...

G-20 Leaders to Channel $1.1 Trillion in Aid, Draft Text Says
www.bloomberg.com...

Greenberg Calls AIG Bailout A "Failure"
www.cbsnews.com...

Home-Equity Loan Delinquencies Hit Record on Job Cuts, Deepening Recession
www.bloomberg.com...

UPDATE 2-U.S. consumer loan delinquencies highest on record
www.reuters.com...

Jobless Claims Jump 669,000; Total At 5.7M
www.cbsnews.com...

More U.S. workers worried about layoffs: survey
www.reuters.com...

UPDATE 1-Parts shortage idles second Chrysler Canada plant
www.reuters.com...

Costco to close Home stores due to slowdown
www.reuters.com...

UPDATE 1-RESEARCH ALERT-Credit Suisse cuts 3 homebuilders
www.reuters.com...

UPDATE 3-Rite Aid posts loss, explores refinancing options
www.reuters.com...

Moody's cuts Salem Communcations CFR to B3
www.reuters.com...

Orix Borrows From State to Combat Financial Crisis, President Yanase Says
www.bloomberg.com...

More Than 30,000 Japanese Committed Suicide in 2008, Police Agency Says
www.bloomberg.com...

Aviva to Cut 1,100 Jobs at Norwich Union, Drawing Condemnation From Union
www.bloomberg.com...

As Many as 12,000 Latvian Teachers Protest Government Proposal to Cut Pay
www.bloomberg.com...

Mexico's Economy Will Shrink 2.8% in 2009 as Crisis Deepens, Ministry Says
www.bloomberg.com...

Japan Asks Urgent UN Response to North Korean Missile (Update2)
www.bloomberg.com...

One in 10 Americans receiving food stamps
www.reuters.com...

[edit on 4/2/2009 by Hx3_1963]

Just a reminder to stock up on natural remedies.

www.medcitynews.com...

About 35 Ohio hospitals are planning layoffs sometime in the next six months, according to a survey by the state’s hospital trade association. The results were part of the Ohio Hospital Association’s HealthBeat newsletter, which said about one-third of respondents were planning employee cut-backs. A total of 110 of the association’s 174 members responded to the survey. The association did not know how many layoffs were planned and would not provide a list of hospitals that said they were planning layoffs.

also 20% - getting up there.

www.martinsvillebulletin.com...

Jobless rate tops 20% in Martinsville
Thursday, April 2, 2009

By MICKEY POWELL - Bulletin Staff Writer More than one-fifth of Martinsville’s labor force is unemployed as the city’s jobless rate reached a record 20.2 percent in February, Virginia Employment Commission (VEC) figures released Wednesday show. Henry and Patrick counties, as well as the city, saw sharp increases in their jobless rates, the figures reveal. Martinsville once again had the highest unemployment in the state — a distinction it briefly lost in January.

[edit on 2-4-2009 by spinkyboo]

Gold prices may fall as G20 wants IMF to sell precious metal
economictimes.indiatimes.com...

G20 supports IMF's plan to sell 403 tons of gold
www.marketwatch.com...

[edit on 4/2/2009 by Hx3_1963]

LAYOFF DAILY
Thur 4-2-2009

MPG -50 Creative Memories -50
Richmond Times-Dispatch -59
Hogan Hartson Law Firm -93
Berstein-Rein In Kansas City -10
Kohler Co. -455
Law Firm Mayer Brown -135
BF Goodrich Tuscaloosa -50
Taylor Made Glass Systems -78
US Postal Service -1,490
Suzuki USA -475
City of Worcester -308
Maysteel Closing Plant-89
107 Hospitals Layoff 50 or More
UTMB Galveston -3,800
NC State University -150
Klockner Pentaplast -38
Nippon Paper Mill Furloughs -75
Bombardier Aerospace -3,000
Misc. Solar Jobs -700 - Shouldn't solar jobs be important about now?
Buzz Media -15
City of St. Petersburg -10
Flint Michigan Schools -257
AIG Cuts At 38 Locations -580
i Crossing -30
Banc of America Securities -12

TOTAL - 12,050+

Headlines for April 3rd 2009

Congress approves budget plans, long road ahead
www.reuters.com...

Fed to use all tools to stabilize markets: Bernanke
www.reuters.com...

Treasuries Tumble as Traders Shift Focus to Record Debt Supply From Jobs
www.bloomberg.com...

Fed Struggling to Win Over Investors Wary of `Sharks' in TALF Aid Program
www.bloomberg.com...

Bair pitches hedge funds on bank plan
www.reuters.com...

SEC Said to Weigh Two Plans for Short-Selling Curbs Amid Lawmaker Pressure
www.bloomberg.com...

Hedge Funds Get Earful From Clients About Fees, Withdrawals
www.bloomberg.com...

Jobless rate hits 25-year high
www.reuters.com...

U.S. economy sheds 663,000 jobs
www.reuters.com...

GM, Chrysler Bankruptcy Risk Prompts Parts Suppliers to Embrace U.S. Aid
www.bloomberg.com...

AMR, U.S. Airlines May Struggle for Credit as Rates Rise Amid Travel Slump
www.bloomberg.com...

FASB Shift Won't Spur Bank Rally Because of Loan-Loss Growth, Goldman Says
www.bloomberg.com...

Bailed-out banks may buy toxic assets: report
www.reuters.com...

Calpers Bet on Apollo Sours as Private-Equity Firm Tries to Salvage Deals
www.bloomberg.com...

Correction: Moody's may cut Bank of America covered bonds
www.reuters.com...

Moody's cuts BMW Bank of North America
www.reuters.com...

Moody's cuts Genworth debt to lowest investment grade
www.reuters.com...

Moody's rates Frontier Communications notes Ba2
www.reuters.com...

Ackman stumps for General Growth bankruptcy
www.reuters.com...

Prime U.S. Mortgage-Loan Default Rates Doubled in 2008 as Credit Tightened
www.bloomberg.com...

Failure Rate Rises on Mortgages Revised in Late 2008, U.S. Regulators Say
www.bloomberg.com...

U.S. property bust threatens condo "death spiral"
www.reuters.com...

Citic Pacific Raided by Hong Kong Police in Conspiracy Probe; No Arrests
www.bloomberg.com...

Toyota `Shocked' by Credit Markets, Borrows From Japan to Fund U.S. Sales
www.bloomberg.com...

Shanghai Prime Office Building Vacancy Rate Rose to 4-Year High in Quarter
www.bloomberg.com...

Indonesia Cuts Benchmark Rate for Fifth Month to Sustain Consumer Demand Indonesia’s
www.bloomberg.com...

Malaysia Exports Fell a Fifth Month in February, Longest Slump Since 2002
www.bloomberg.com...

Kazakhstan's Biggest Bank May Fail After Bailout, Former BTA Chairman Says
www.bloomberg.com...

OTP Annual Net Declines 21% After Serbian, Ukrainian Writedowns Increase
www.bloomberg.com...

WRAPUP 2-ECB almost at rate floor, other moves in focus
www.reuters.com...

ECB Faces Day of Reckoning as Trichet Says New Tools May Come Next Month
www.bloomberg.com...

Ireland's Economy to Shrink as Much as 12% by 2010, Central Bank Forecasts
www.bloomberg.com...

Euro-Area Ministers Give France Three Years to Get Deficit Below EU Limit
www.bloomberg.com...

Airbus May Fail to Meet Goal for Double-Decker A380 Deliveries This Year
www.bloomberg.com...

HSBC Luxembourg Unit Sued by Herald Fund Over Losses on Madoff Investments
www.bloomberg.com...

Hypo Real Nationalization Moves Closer as Flowers Demands Equal Treatment
www.bloomberg.com...

Merckles' Banks Extend Bridge Financing as Family Prepares to Sell Assets
www.bloomberg.com...

Government May Cut Car-Scrapping Incentive After Reviewing It Next Week
www.bloomberg.com...

MAN May Make More Spending Cuts as Truck Sales Drop 50%, Samuelsson Says
www.bloomberg.com...

Merck KGaA to Reduce Hours for Some Chemical Workers as Recession Kicks In
www.bloomberg.com...

DSG to Close Eight PC City Stores in Sweden, Markantalo Outlets in Finland
www.bloomberg.com...

Canada's Dollar Depreciates as U.S. Unemployment Rate Increases in March
www.bloomberg.com...

Sell Rand and Canadian Dollar If Gold Falls, BNP Paribas Analyst Says
www.bloomberg.com...

Colombian Central Bank Says Economy Is Slowing More Than It Anticipated
www.bloomberg.com...

General Motors South Africa Will Cut 700 Jobs by June as Car Sales Slump
www.bloomberg.com...

South African Airport May Be Sold to Foreign Investors, Business Day Says
www.bloomberg.com...

De Beers Halts Diamond Exploration Project in Congo Amid Declining Prices
www.bloomberg.com...

North Korea readies rocket for launch
www.reuters.com...

[edit on 4/3/2009 by Hx3_1963]

reply to post by Hx3_1963


1982 saw 9.7 % unemployment

your opinion , we going to hit that ?

reply to post by Seany


"They" are saying that "they" expect unemployment numbers to rise to 8.7 percent - and then... stop.
Hmmm. Really? We will see.

reply to post by Seany
Ahhh...we're already above that...

10+ States over 10% now...12%+ here in Michigan...

They just publish what they want you to see...

reply to post by Hx3_1963


Right.
None of the "official" numbers can be trusted.
This is MSNBC and even these people are reporting larger - depending
on what you consider unemployed.

If part-time and discouraged workers are factored in, the unemployment rate would have been 15.6 percent in March, the highest on records dating to 1994, according to Labor Department data released Friday.

www.msnbc.msn.com...

[edit on 3-4-2009 by spinkyboo]

Obama Bank Policy Signals $1 Trillion in Writedowns (Update1)
www.bloomberg.com...

Senate OKs measure calling on Fed to name firms
www.reuters.com...

Gordon Brown's G20 deal will not save British jobs, warns Alistair Darling
www.telegraph.co.uk...

G20: Russia won't fund $1.1 trillion summit deal
www.telegraph.co.uk...

UK firms' Q1 credit costs rose despite lower rates-CBI
www.reuters.com...

Chrysler debts come back to haunt banks
www.reuters.com...

FedEx confirms 1,000 layoffs
www.bizjournals.com...

Small businesses hurt by supplier credit drop: UBS
www.reuters.com...

FHA program strained by record loan defaults
www.boston.com...

U.S. Office Vacancies Hit 15.2% -- and Rising
online.wsj.com...

Activists protest bailouts near Wall Street
www.reuters.com...

New York Times threatens to shut Boston Globe
www.reuters.com...

[edit on 4/3/2009 by Hx3_1963]

LAYOFF DAILY
Fri 4-3-2009

Johnson Controls Update -10
Plants Yellow/Roadway Trucking -600
FedEx Salaried Workers -1,000
Rockingham Sheriff's Office -10
Hamilton Sunstrand -300
Shipman and Goodwin Law Firm -26
Bowling Green State Univ. -15
MKS Instruments -370
Law Firm Edwards Angell -9
Domtar Shuts Mill For 10 Weeks -500
Dell -50
B and C Corp. -142
APAC Customer Services -95
Sherwin Williams Closing Plant -120
Acadian Asset Management -16
IFAS -93
Cannondale Bikes -200
FisherCast -4
TV Stations KMPH/KFRE -22
Winnebago County Govt. -48
Bloomsburg Mills Closing 2 Plants -226
John Zink -63

FINANCIAL LAYOFFS
www.thedeal.com...

TOTAL - 3,900+

Headlines for April 4th 2009

Britain 'should not fear asking for IMF cash'
www.telegraph.co.uk...

RBS needs five years
www.telegraph.co.uk...

Investors Asked to Stop Focusing on Bank’s Mistakes
www.nytimes.com...

Chip Maker Sues Banks Over Securities
www.nytimes.com...

Stimulus Boost For Food Stamp Recipients
www.cbsnews.com...

$500K homes going for $200,000
www.cnn.com...

N.Y. State Passes $131 Billion Budget
www.nytimes.com...

Obama’s Farm Subsidy Cuts Meet Stiff Resistance
www.nytimes.com...

Thousands Join Anti-Government Rally in Ukraine
www.nytimes.com...

Spain's Economic Outlook Grimmest in Europe
www.nytimes.com...

Making Ends Meet in the Great Depression
www.nytimes.com...

Nonprofit Theaters Say Next Season May Be Their Toughest Yet
www.nytimes.com...

[edit on 4/4/2009 by Hx3_1963]

reply to post by Hx3_1963


Wow - 1 out of 10 on food stamps.
That's hard to believe.
That's scary.

reply to post by Hx3_1963


Unemployed is thought to be more than 15%

reply to post by spinkyboo
Star 4 U!

Yeah scary is right...and now they're talking about cutting farm subsidy's...

Heck of a time to cut, just when we need it most and numbers are increasing...


@ Tentickles: Star 4 U!
Just for stopping by and adding...

U.S. May Keep Losing Jobs in Coming Months, Extending Worst Postwar Slump
www.bloomberg.com...

Unemployment May Make America as Grim as Thatcher's Britain: Chart of Day
www.bloomberg.com...

Summers Earned Millions in Salary From D.E. Shaw and Bank Speech Payments
www.bloomberg.com...

Bernanke, Kohn Pledge Fed Will Withdraw Emergency Credit When Crisis Wanes
www.bloomberg.com...

Treasuries Slide as Traders Focus on Record U.S. Debt Supply
www.bloomberg.com...

Banks could bet on toxic assets with taxpayers' money
www.reuters.com...

UPDATE 2-Lawmaker sees Fannie, Freddie bonus "insult"
www.reuters.com...

Banks resisting pressure to swap debt for stock-WSJ
www.reuters.com...

Obama and GM investors play high-stakes game of chicken
www.reuters.com...

GM CEO says bankruptcy will be fast if needed: report
www.reuters.com...

American, US Air May Struggle for Financing as Rates Rise in Travel Slump
www.bloomberg.com...

Shrinking airlines park more planes in the desert
www.washingtonexaminer.com...

Texas Rangers Baseball Team Owner Hicks Defaults on $525 Million of Loans
www.bloomberg.com...

Apollo Taps Calpers for Biggest Distressed Leveraged Buyout Investments
www.bloomberg.com...

Prada May Reorganize $1.6 Billion Debt to Fund New Stores as Sales Suffer
www.bloomberg.com...

Elpida to post $1.6 bln loss for 2008/09 - Nikkei
www.reuters.com...

Lebedev to Cancel $1 Billion Airbus Order as Germany Pulls Airline License
www.bloomberg.com...

Intel's `Unthinkable' Exit Leaves Filipino Chipmakers, Cooks Without Jobs
www.bloomberg.com...

European Finance Chiefs Say ECB Doing What It Can to Fight the Recession
www.bloomberg.com...

EU Bank Revamp Spurs U.K. Resistance to Ceding Power (Update1)
www.bloomberg.com...

EU Urges Mark-to-Market Overhaul to Avoid Banks at Disadvantage With U.S.
www.bloomberg.com...

Jose Manuel Barroso warns millions more Europeans will lose their jobs
www.telegraph.co.uk...

Europe to Lag Behind in Economic Growth, Goldman’s O’Neill Says
www.bloomberg.com...

U.S. envoy says Darfur on brink of deeper crisis
www.reuters.com...

NATO Protesters Torch Buildings, Clash With Cops
www.foxnews.com...

French Police, Protesters Clash During NATO Summit (Update1)
www.bloomberg.com...

Italians Rally in Rome to Protest Economic Policies (Update1)
www.bloomberg.com...

Italian Union Says 2.7 Million Protesters in Rome, AP Reports
www.bloomberg.com...

U.S., Mexico to Form Border Group to Fight Drug Cartels
www.foxnews.com...

Building Stadiums in Deep Recession
www.foxbusiness.com...

Saks will pass on lower prices for luxury brands
www.reuters.com...

Intermission on Broadway?
www.foxnews.com...

Harvard May Cut Capital Spending on Expansion by 50% as Endowment Declines
www.bloomberg.com...

[edit on 4/4/2009 by Hx3_1963]

Estimated U.S. taxpayer cost for bailout jumps
www.reuters.com...

Recession persists, but jobless benefits ending
www.msnbc.msn.com...

Britain heading for the IMF - official
blogs.telegraph.co.uk...

Britain should not fear asking for IMF cash
www.telegraph.co.uk...

Banking-Rules Overhaul in EU Stumbles as Britain Objects to Ceding Power
www.bloomberg.com...

EU Finance Chiefs Defend Stimulus Efforts Amid Labor Protests, Kidnapping
www.bloomberg.com...

Hard Economic Times Force States to Soften Crime Laws
www.foxnews.com...

North Korea appears to launch rocket: Japan
www.reuters.com...

North Korean rocket passes over Japan - Tokyo
www.reuters.com...

[edit on 4/4/2009 by Hx3_1963]

U.S. congressional budget analysts have raised their estimate of the net cost to taxpayers for the government's financial rescue program to $356 billion, an increase of $167 billion from earlier estimates.

They are so full of it. 356 billions? Yeah right. Make it 12.7 trillions and going up fast.... they won't repay those loans. Why? Because the derative bubble is much bigger and the money is being transfered to other banks outside US jurisdiction in Europe... This is a big scam.