10% approaching fast.

Numbers don't lie ... or do they? Regardless of your particular lens, historic levels of unemployment are coming to the US.

The way I see it is that there are two main problems. The first is that the numbers are still rising at high speed, that there is neither an end in sight, nor anything that can stop these numbers from rising. The second problem is that the government, and in its wake the media, continues to downplay, embellish and, if you take an objective view, downright lie about the gravity of the situation.

Read the Automatic Earth piece here. The author has been eerily spot-on throughout most of 2008 and 2009.