The economy is limping along with unemployment and underemployment remaining at high levels while the number of new jobs is still way too low. This is especially true for US youth, many of whom will soon be graduating. Increased housing prices represent Wall Street taking advantage of cheap loans from the Fed and profiting from the collapse by buying up real estate. It is another massive transfer of wealth to the wealthiest.

What economists have been emphasizing throughout the collapse remains true today – until the job market strengthens dramatically there will be no real recovery. Here is the latest on jobs, housing, health care and Obama’s appointments. The bottom line is that recovery will come from grassroots efforts to build local sustainable economies and put real pressure on those in power.