I noticed three articles this morning that are worth reading.
Gurk! ZIRP!
Paul Krugman on the Zero Interest Rate Policy. Yes, we're Japan!
Retailers Report a Sales Collapse
Sales at the nation’s largest retailers fell off a cliff in October, casting fresh doubt on the survival of some chains and signaling that this will probably be the weakest Christmas shopping season in decades.
This is worthwhile reading for investment ideas and strategy moving forward.
Unemployment rate leaps to 6.5%, 14-year high
The last time the unemployment rate was as high as 6.5% was in March 1994. Most economists believe the jobless rate will rise to nearly 8% next year.
The October employment report was much worse than expected. Economists surveyed by MarketWatch thought the jobless rate would rise to 6.3% from 6.1% in September, and they expected job losses of around 210,000 in October. See Economic Calendar.
The discouraging report should add to selling pressure on Wall Street, which has already suffered the largest back-to-back declines as fears about global recession rise. See full story.
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