Dan Niles: I Fully Expect Unemployment to Shoot Well Above 10 Percent and the Question Is Will It Break 20

EXCERPT:

NILES: “If you look back I mean, the market really started to sell off in month of March, and a lot of companies finished first quarter now they're going through process figuring out how to survive next quarter when things are going to get really bad. Because you only really have one bad month in the March quarter and that was the month of March, but in  June quarter you are having a full quarter impact from what we’ve seen in the past, and so that's when things is going to get really ugly I fully and unemployment to shot well above 10 percent and the question is does it break 20."