Unemployment Armageddon

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Monika Bauerlein,
CEO

Dear Reader,

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In "The 'Animal Spirits of Capitalism' Are Devouring Us," Monika Bauerlein writes about our biggest investigation in quite some time: A "stunning exposé," nearly six months in the making, that digs deep into the hidden world of private equity. And with $200,000-plus still to raise by June 30, we hope you'll read about this huge project and, if you can, that you'll help make our work possible with an urgently needed donation.

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According to the minutes of the latest Fed meeting, their staff economists believe that weaker than expected economic growth will result in “the projected path of the unemployment rate rising more steeply into early next year before flattening out at a high level over the rest of the year.” An artist’s conception of unemployment growing steeply all the way through the first quarter of 2010 is shown below. I sure hope the Fed economists are just kidding about this.