You want the truth?

- March Unemployment Rose to 9.8% Net of Census Hiring
- Official Reporting: BLS U-3 Held at 9.7%, U-6 Rose to 16.9%, SGS Rose to 21.7%
- March Employment Gain of 162,000 Was 114,000 Net of Temporary Census Hiring - Economic-Deterioration Signal Intensifies
"No. 289: March Employment and Unemployment, Liquidity Crisis" http://www.shadowstats.com/


Jim Sinclair’s Commentary

Our friend Greg Hunter explains MOPE perfectly.

Don’t Let The Facts Get In The Way Of A Recovery 2 APRIL 2010 By Greg Hunter

For awhile, the term “green shoots” was the buzz word for the economic rebound. Remember that? The “green shoots” have now turned into a“recovery” almost every time the economy is mentioned. It seems we are constantly bombarded with stories of how the economy is turning around when the facts say otherwise.
I do want to be positive, but some of the spin I am hearing would make “Baghdad Bob” (Mohammed Saeed al Sahaf) proud. You remember the former Iraqi Information Minister who made wildly false statements about the 2003 Gulf War. One of “Bob’s” last zingers was, “This invasion will end in failure.”
There has been some good news, such as a story that came out earlier this week in the Los Angeles Times. The headline read: “Home prices in California show strong, unexpected gains in January.” The Times story went on to say, “L.A. leads the S & P/Case-Shiller index of 20 cities with a 1.8% increase from December. The index rises 0.3% overall, its eighth monthly increase in a row.” This is great news, but buried in the story is this fact, “A breakdown of the index showed mixed results, with 12 cities posting increases and the rest decreases. When left unadjusted for seasonal variations, the 20-city index fell 0.4%.” Yes, the index “fell 0.4%,” if you leave out the “adjustments.” (Click her for the complete L.A. Times story.) Do you see a recovery in the mortage reset chart on the left below?
More…





Follow The Money





With health bill, Obama has sown the seeds of a budget crisis.





Bob Chapman: Credit Crisis and Outrage Far From Over





Peter Schiff: Very Good Reason to Believe Home Prices Will Collapse


CME Working with Fannie, Freddie on Swaps