Here is the Giant Sucking Sound on the Jobs market ….. because our # 1 industry is catch in a period of free fall .
By Daniel at 8 January, 2010, 1:22 pm
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What we do to stop this it seems there is no answer at this point , windmills have not worked , and who can find the money to buy a electric care if that’s the industry . Green tech Jobs is going to take way more than the original Stimulus program so I agree with Goods , here come Stimulus 2 3 4 5 6 ……….. There is NO WAY the FED can Rise Interest rates …forget about it . Inflation is the only way out .
Cutting Through the Fed Tightening Claptrap
http://www.moneyandmarkets.com/cutting-through-the-fed-tightening-claptrap-37243
Machine-Man
http://www.caseyresearch.com/displayCdd.php?id=313
Call it the winter of discontent for the troubled U.S. commercial mortgage-backed securities (CMBS) market. The loan delinquency rate climbed 42 basis points in December to reach 6.07%, making history in the process.
The percentage of loans 30 days or more past due climbed above 6% in December for the first time ever, according to commercial real estate data and analytics firm Trepp LLC.
“It is a scary threshold to have breached,” says Manus Clancy, senior managing director at New York-based Trepp, which tracks some 60,000 CMBS loans totaling $725 billion. “We continue to add 35 to 45 basis points of additional delinquencies per month, so that [trend] really doesn’t seem to be subsiding at all.”
Clancy says that he wouldn’t be surprised if the delinquency rate were to steadily rise to near 8% by mid-2010, but he is quick to point out that Trepp generally doesn’t forecast this type of information.
(You can read the full story here.) http://nreionline.com/news/cmbs_delinquencies_rise_0105/
As you know, the portfolios of the nation’s financial institutions are littered with CMBS paper – which means yet more bank failures. If there is one thing Ms. Market likes to see less of, it’s bank failures… and she’ll really dislike it when the already busted FDIC itself has to be bailed out.
The CMBS problem doesn’t necessarily mean a crash in the economy in 2010 – this is just another in a long list of sharp swords dangling overhead – because the government has been, and continues to be, willing to pump out fiat money in prodigious amounts to keep things afloat.
According to electronic court record keeper AACER, of the 1.33 million U.S. bankruptcy filings through November 2009, 71% fell under Chapter 7 in which debtors essentially wipe their slates clean. Only 28% were Chapter 13 filings that require repayment of at least some of the debt, down from 33% in 2008. AACER’s president expects a 15-20% increase in 2010 filings.
- hungry4food
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