Here's another indicator showing why the recession is still getting worse:


[click for larger image]
Increased delinquencies leads to increased defaults leading to increased bankruptcies, leading to increased unemployment and business failures, leading to increased delinquencies, leading to increased defaults.... etc. It's a vicious, spiraling cycle. If you're just lookng at the stock market for signs of a recession recovery, well, you're just going to get fooled again.