Some things to bear in mind... Frontline tonight was very good. Told it like it is. New rules for the banks coming soon. Hope so.
A lot of analysts are looking for those "green shoots" of recovery wherever they can find them, like the rise in consumer spending. I personally think most of that is caused by the near doubling of gas prices over the last 4-6 months. The U.S. uses 140 billion barrels a year, so every time it rises $1. per barrel that means we spend $140 billion more for it. A sobering thought, isn't it.
Roubini says his numbers predict a rise to 11% + unemployment for most of next year - the others are saying 9.5-10%. I think Roubini is right. I heard the numbers on credit card default this AM and they were very troubling, both in number and amount - and that trend is rising, so I think it's a good idea for the Village and all of us to be prudent