I'll see your U3, and raise you a U6...

The unemployment numbers look bad even if you're buying what the official gov't stats are selling. They look even worse when you take off the rose-colored glasses and see the real numbers, a truth that many politicians (save a few) and news outlets are simply refusing to recognize... so bad, in fact, that social services and relief agencies are seeing a rise in homelessness amongst recently middle class persons.

And they're not the only ones slipping underwater. Worldwide corporate defaults have reached their highest level since the (last) Great Depression.

A small number of communities have taken to printing their own currency in an attempt to help keep purchases local during tough times (although in fairness this type of thing has been done during boom times as well... it has as much to do with the local movement as it does with the economic downturn).

International shipping companies are taking huge hits and slowing shipments in an effort to cut costs and losses as world trade grinds down.

For those cheerleading the rise in stocks recently, Freakonomics would like to remind you to curb your enthusiasm and know your indicators.

And there appears to be a growing clamor against the "bailout" plan amidst greater recognition of what it really is and does. Even the congressional panel that oversees it is advising a new course of action. Meanwhile, it looks like the Treasury will be delaying publication of the results of their 'stress tests' on banks' solvency until after quarterly earnings are reported. Looks like we want the good news first?