Daily Reading on the Financial Markets: 12/3/11

ECRI’s latest Growth Index reading falls back to near its recent lows.  At Advisor Perspectives, Doug Short provides a full range of charts and context for the ECRI recession call.

While official Unemployment ticked down to 8.6%, Zero Hedge points out the ever-increasing number of non-participants who aren’t included in the official rate.

Ace market technician Chris Kimble, notes that the US Dollar is on trendline support and reminds us that the US Dollar and equity markets are not always inversely correlative.

At PragCap, Cullen Roche asserts that the only solution for Europe is fiscal union, and quotes Warren Mosler’s take that further austerity can only end with “blood in the streets.”

James Kostohryz projects December 9th as the “do or die” date for the European Union.

At Daily Capitalist, DoctoRX suggests that “the ‘better than expected’ ISM Manufacturing Data is actually consistent with an evolving industrial recession.”