The Holy Trinity of bad news

"Retail sales fall unexpectedly, jobless claims up"

"Retail sales unexpectedly fell in December leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades."

"Jobless claims up"
"In the jobs report; the Labor Department said new claims for unemployment insurance rose by 11,000 to a seasonally adjusted 444,000. Wall Street economists polled by Thomson Reuters expected an increase of only 3,000."

"Record year for foreclosures as unemployment rises"

From the article, " A record 2.8 million households were threatened with foreclosure last year, and that number is expected to rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages."

"In December, more than 349,000 households, or one in 366 homes, were hit with a foreclosure-related notice. That represents a 14 percent spike from November and a 15 percent jump from December 2008."

Hmmmmmm, unemployment up, foreclosures up and sales down. 2010 is going to be super awesome!


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