In this interview with Max Keiser, Janet Tavakoli - an author and expert on structured finance and derivatives - voices grave concerns about the state of the banking system. In her estimation, the risk of complete meltdown remains very high. It is well worth the listen!
Economists forcast that the jobs report this morning would come out with 175,000 jobs lost. The real number was 263,000. That's 88,000 more jobs lost than they predicted. THAT'S MORE THAN 50% MORE JOBS LOST THAN THESE 'EXPERTS' PREDICTED!!! I'm not sure of too many industries where one can be off by more than 50% and still keep their job. [more]
Just three more 1228 point days and I will be back in the black : )