Weekly Numbers and Titbits For The Market

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•1.     ON THE EDGE - More than 3 out of every 5 American adults (61%) do not have an emergency savings account equal to at least 3 months of living expenses (source: Money Magazine). 

 •2.     HALF AS BAD - The nation's unemployment rate was 8.5% as of 3/31/09.  The unemployment rate for American adults with a college degree is 4.3% (source: Department of Labor, Newsweek).  

•3.     STATE STATS - There are 8 states that have an unemployment rate of at least 10% as of 3/31/09.  Michigan, with a 12.6% unemployment rate, has the highest jobless rate in the nation (source: Wall Street Journal). 

•4.     CLOSE THE DOORS - 25 banks have failed YTD as of Friday 4/17/09.  25 banks failed in all of calendar year 2008.  There are 8,305 insured banks nationwide (source: Federal Deposit Insurance Corporation).   

•5.   BIG DEAL?! - President Obama presented his fiscal year 2010 budget (i.e., the 12 months from 10/01/09 to 9/30/10) on Thursday 2/26/09.  The budget projects that government spending will be $3.55 trillion, equal to $9.7 billion a day or $100 million every 15 minutes.  At his 1st Cabinet meeting held last Monday, the president asked his 21-member staff to identify $100 million in budget cuts (i.e., in total, not per Cabinet member) over the next 3 months (source: White House, AP). 

•6.   NEW RULES - There are an estimated 60,000 home appraisers in the USA.  Effective this Friday (5/01/09), the "Home Valuation Code of Conduct" will force lenders to require appraisers to follow new rules under the code.  Fannie Mae and Freddie Mac will not buy mortgages from lenders that do not adhere to the new appraisal rules as of that date (source: BusinessWeek, Freddie Mac).  

•15.   GOLFING FIRST - When Angel Cabrera won the Masters on 4/12/09 in Augusta, GA, he became the first professional golfer ever to win one of golf's 4 major tournaments using a "long putter" (aka a "belly putter").  Fed Chairman Ben Bernanke was born in Augusta, GA (source: Golf World, Federal Reserve).