Mass Layoffs: The Continuing Devastation

"We
are in the midst of a disaster. The economy is still on its back.
Economic growth requires capital, but the government is absorbing
savings. The banking system is not providing the funds that businesses
require.

Unemployment is rising. Foreclosures are continuing. Moody's
senior economist testified before the Senate Finance Committee on
July 21 that the financial system's $1.2 trillion in losses
so far will be followed by $1.4 trillion. He said that almost 1,000
banks are at risk of failing. No one noticed.


There is a discrepancy between investors' assessment of the economy and businessmen's
assessment. They continue to have mass layoffs.


Profits come from accurately forecasting future consumer demand. Unemployed consumers are not the source of profits."

(my emphasis)

source: http://www.lewrockwell.com/north/north738.html

Don`t mean to be the bringer of bad news but your right ,...... and it is going to get worse the commercial real estate bubble is just beginning to thin and will soon bust . We have seen the news papers and news casters telling us the recovery has begun truth of the matter is at the last treasury Auction China never showed they are the richest Nation on the planet . If you have long term bonds coming due get out of the bond game all together. The ship is going down and its time to run for the financial life boats ,

The derivative market is a big nightmare that is going to be the Iceberg hitting the titanic all over again. Only the economy is the titanic this time. It will be a demon drop in the Stock exchange they are spending like crazy to try and prevent it and the next bailout will only be to slow it This is going to happen just let it flow