No way to dig out of this hole . . .

Fannie and Freddie are such deep holes that there is no way for the Fed to dig out of this one. Also, GM, owned by tax payers, just bought AmeriCredit which will be the new GMAC (again). Wonderful.

Double Dip is here

Here it comes. Acutally there never really was an end to the recession. Thanks to trillions of dollars spent by the Government to prop things up and pull demand forward some more it only appeared that the recession was ending and there was a recovery. There is no recovery. Period.

ECRI continues to plunge. Someday, maybe, this will affect the stock market. Fundamentals no longer matter. Strange days.

How's the housing deleveraging going? (Not)

One graph tells it all - and why the Fed is so afraid of reality. Reinflating a popped balloon is really difficult.

And this post shows how the US has horribly overbuilt houses over the past 20 years. Housing will crash - it's a matter of when, not if. And it will crash regardless of what the Fed, Congress, and the White House does. Also, with millions of jobs lost (and many will not come back for a long time if ever) there will be even less demand for houses, especially the $500K+ mcmansions.

Whose fault was it?

Pretty much everyone in DC.

Notice the graph on how the debt to GDP has been masking the decline of the US over the past decade. Both Democrats AND Republicans blew up the country.

Small businesses are cratering

There isn't and has not been a recovery - it was all propaganda. Also, the gdp numbers were propped up solely from huge (trillions) of government spending.

Small businesses are hurting. It's just another disaster being covered up by the government.

Also, as long as small businesses are not hiring the overall unemployment situation will not improve as seen here.

Many small businesses are funding themselves with credit cards which is disasterous long-term with today's rates.