that banks have now recognized at least 60% of the 2.6 tlrilion in losses they estimate from the housing bubble.4. US job losses per month peaked at 750K last Feb and are currently a third of that according to Trim Tabs and less according to BLS.5. The US economy is creating tens of thousands of new jobs every month. Unfortunately those jobs are in other countries.;-) But that's global capitalism. As we all know, all other things being equal, jobs will move to markets where labor is prevalent and cheap. What's the matter? Don't you like global free market capitalism? So are you all just going to whine? If we don't have any answers besides let the economy reset we're in big "licking" trouble and mounting debt isn't our only major problem. Maybe the economy is resetting and the new normal is going to be 20% unemployment at 20% lower incomes because BRICK and 3rd world labor is cheap, available, and not as risky as it used to be.I don't particularily care for T. Boone Pickens, but right now he's got the only plan that will provide significant new domestic employment while decreasing the balance of trade deficit. Maybe you should send an email to Maria or Patty or whoever your congressman is. It's more constructive than whining. Or if your just a lazy capitalist in the investor class, buy some Clean Energy Fuels Corp.For purposes of full disclosure, I started buying Clean Energy Fuels Corp last month. That's the CNG infrastructure company controlled by Pickens. I'm not much of a capitalist, but I'll need the money to pay my medicare premiums now that I'm over 55 and likely to eventually end up with the public option.;-) Rate this comment: 0 0

by Naveeda 11:30:07 PM 2013.01.26