re Junk Bond Default Rate Worst Since Great Depression

re Junk Bond Default Rate Worst Since Great Depression <<~~ real interpretation of the price movement is that the school of fishes is following the Fed/Bernanke price manipulation. Of course, most of well publicized financial analysts are slaved under the money power omitting the critical fact of price manipulation which led millions of the school of fishes going bankruptcies.>>

Last week the junk bond default rate hit 10.2 percent.

The U.S. junk bond default rate rose to 10.2 percent in August from 9.4 percent in July as the worst recession since the 1930s left more companies unable to pay off debt, Standard & Poor's data showed on Thursday.

The default rate is expected to rise to 13.9 percent by July 2010 and could reach as high as 18 percent if economic conditions are worse than expected, S&P said in a statement.