HOMETOWN, USA – It was another beautiful day, here in the American Empire. The Dow dropped today nearly 400 points. Here’s what else is happening around the Empire:
- Dow Jones fell 394 points, the greatest since February 2007
- Gas rose to $138 per barrel
- Unemployment rate for May jumped to the official number of 5.5%, the highest since Oct of 2004
- This was the biggest monthly unemployment increase since Feb. 1986
- The dollar declined against other major currencies – a move that makes each barrel of oil more expensive.
- Gold prices rose.
- Homeowners’ portion of equity slipped to 46.2 percent in the first quarter – the lowest level since the Fed started tracking the data in 1945.
- As of Thursday, June 5, 2008, at least 4,092 members of the U.S. military have died in the Iraq war since it began in March 2003,
- As of Thursday, June 5, 2008, at least 443 members of the U.S. military had died in Afghanistan, Pakistan and Uzbekistan as a result of the U.S. invasion of Afghanistan in late 2001,