We're in a full-blown recession, if not worse

Data on jobless claims show the sharpest downturn ever

There is no sugar-coating of the current economic situation in the US. Though still early, it looks like we’re on track to enter the worst unemployment situation since the Great Depression. Things will be at least as bad as they were during the global financial collapse in 2008.

New data on joblessness highlight this depressing reality. According to the …