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Worse and worse

It's been a tough day -- jobs numbers are worse than anticipated. Now the President's top economic advisor says the first quarter will show negative growth. Yesterday we learned that home equity is under 50% of value for the first time since World War II and financial companies continue to hit the skids....

By Jonathan D. Miller | Updated on March 07, 2008

It’s been a tough day — jobs numbers are worse than anticipated. Now the President’s top economic advisor says the first quarter will show negative growth. Yesterday we learned that home equity is under 50% of value for the first time since World War II and financial companies continue to hit the skids. Did you notice the Fed’s beige book reports commercial real estate indicators are weak and to expect impending fallout in rents and occupancies?

Look. Batten down the hatches. When the government economic cheerleaders sound too realistic you know things are getting really bad.

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