The May Unemployment Numbers are Here, and Worse Than Predicted(michaelscomments.wordpress.com)
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The May Unemployment Numbers are Here, and Worse Than Predicted
http://michaelscomments.wordpress.com/2009/06/05/the-may-unemployment-numbers-are-here-and-worse-than-predicted/
3 comments
The unemployment numbers are also worse than the "more-adverse" scenario in the bank stress tests.
http://www.calculatedriskblog.com/2009/06/unemployment-compa...
http://www.calculatedriskblog.com/2009/06/unemployment-compa...
"Stimulus Effect: Shit Sandwich"
Interest rates have jumped up especially on longer term Treasuries - and because things like mortgage rates are based on this, this means not only is deficit spending going to be more expensive (and there's a lot of that being projected) but that mortgages for everyone and the cost of debt for businesses could soar. 10 year treasury bonds had a yield of 3.83 up from a low of 2.07 percent per Forbes: http://www.forbes.com/2009/06/05/treasury-bernanke-economy-b.... This will mean it will be more difficult for businesses to expand and for people to start spending because they're going to be spending more on just meeting their interest costs.