Slide 35 - forecasts unemployment 9.1% for 2009 and 9.7% for 2010.
Funy that right now we are 8.9%. Based on the last year we would be looking like this.
May (Released in June) 9.2-9.3%
June 9.4-9.5%
July 9.5-9.6%
Aug 9.7-9.9$
Sept 9.9-10.2%
Oct 10.2-10.4%
Nov 10.4-10.6%
Dec 10.6-10.8%
So I dont see how we stop at 9.7%, especial since GM just doubled the number of dealership closing to over 2000. Equals about 100,000 in Direct losses. Top that with Part suppliers, service people and others and we are looking at 250-500K in indirect losses. That would push us to 11% easily by the end of the year.
Top all of this with no discussion of CRE losses. Still way too rosy for my taste.
Tuesday, June 2, 2009
FDIC's Economic Analysis
FDIC's Economic Analysis
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1 comment:
Indeed for truth be told, true UE is near 15%. Now.
That neat National Debt tally widget of yours is the first clue that anything remotely close to numbers that come from inside the Beltway are pure fantasy. One has to go North to the real smart guys at Goldman Sachs, for the truth as they have already stolen all of our money.
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