No Progress in Weekly Unemployment Claims for Five Months

I often disagree with Mish - sometimes to the point where I throw up my hands in dismay and wonder what planet he grew up on.

But I keep my link to him because he's a bright guy, he stays on top of things, some of his insights are valuable, and he occasionally shows information that I'm not likely to run across elsewhere.

This column on the non-improving unemployment situation is a case in point.

Also, he's about as pessimistic as I am about the direction the economy is taking - though I'll bet our reasons why wouldn't mesh very well.

Now, put that together with this, from Calculated Risk:

Also "Personal income excluding current transfer receipts (billions of chained 2005 dollars)" was revised down for the last two quarters, and now shows essentially no growth in real personal income since the bottom of the recession.

Check out this graph, and the text at CR.  This is the deepest, longest lasting recession in 35 years.  It is the sad spot where the Reagan revolution has landed us.