American jobs data are worse than we think – By Mohamed El-Erian – What if the US unemployment rate rises above 10 per cent and stays there for an extended period? This is a question that is not being asked enough, even though it entails yet another historical anomaly that will further complicate policy formulation and open it up to greater political interference. – FT.com Opinion

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Yes, The Jobs Losses Hurt … – Brian S. Wesbury and Robert Stein – … But the recovery is still on track. – Forbes

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The Mother of All Jobless Recoveries – David Rosenberg speaks about the dismal state of the economy.
- Sustained high unemployment…even during a recovery
- Consumers aren’t spending tax cuts
- ‘Real’ unemployment far higher than reported unemployment
- Infrastructure spending helps, but some will be dissappointed in its effect-
watch video at plan B economics

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worth reading – about unemployment – HARD TIMES – …  We expect three major policies by the end of the year:  First, there will be another massive stimulus for job creation; second, there will be another round of quantitative easing from the Federal Reserve to finance the job creation stimulus; and third, expect a major devaluation of the dollar to encourage exports and discourage imports.  God help the Federal Deficit and the saver because printing money like crazy, and devaluing the dollar, will only get inflation started.  … – Benson’s Economic & Market Trends
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China May Keep Interest Rates Low to Cement Recovery – By Bloomberg News – China may keep interest rates unchanged for the rest of this year to cement a recovery in the world’s third-biggest economy. The key one-year lending rate will stay at 5.31 percent and the deposit rate at 2.25 percent, according to the median estimate of 15 economists surveyed by Bloomberg News. Reserve requirements for banks will also be unchanged 

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Have you seen M3 lately? - Tim Iacono – … Then again, maybe this is what the central bank didn’t want people to see. What was it, about three years ago that the Fed discontinued reporting of the broadest measure of the money supply and conspiracy-minded folks thought it was going to go to the moon? … – themessthatgreensapnmade

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Video-o-rama: Fresh wave of risk aversion – Posted by Prieur du Plessis – … This week’s somewhat shorter-than-usual edition of Video-o-rama includes interviews with the likes of Oliver Blanchard, Jim Bianco, Puru Saxena, Roger Altman, Peter Peterson, Wilbur Ross, Allen Sinia, Jeff Saut and Boone Pickens. … – Investment Postcards from Cape Town