A Retirement Society

Posted by Bill Bonner - The Daily Reckoning

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Higher stock prices; fewer jobs…

And don’t forget the foreclosures. They’re running 23% ahead of last year…even though they weren’t as bad last month as last month.

Associated Press:

“The number of households caught up in the foreclosure crisis rose more than 5 percent from summer to fall as a federal effort to assist struggling borrowers was overwhelmed by a flood of defaults among people who lost their jobs.

“The foreclosure crisis affected nearly 938,000 properties in the July-September quarter, compared with about 890,000 in the prior three months, according to a report released Thursday by RealtyTrac Inc. That puts foreclosure-related filings on a pace to hit about 3.5 million this year, up from more than 2.3 million last year.”

What an economy!

The Dow is now back over the 10,000 mark…just where it was in March 1999 – 10 years ago. Is that progress…or what?

During that time, the dollar has lost about a quarter of its purchasing power. That means stock market investors have lost only about 25% or their money over the decade. Not too bad, huh?

And, oh yes…they’ve lost their jobs too…

AP continues:

…..read more HERE.