I know for all appearences the economy is in critical condition. But what if, three months after O gets sworn in all the news is good?
If fear and panic are driving this downward frenzy we can look at a hostile press who has been demeaning and spiteful towards W for eight years and say " okay, you have your man in there, now please stop. "
Is it impossible that with daily good news and pep talks is all that is required to turn things around? Now people are scaird and they aren't spending any money. It's like a snake eating its own tail.
I for one would hate the press, because they would have had a hand in causing all the fear. Many agree that despite the real losses, fear is a bigger factor in turning this into a full fledged global calmity. You have to lay that at the feet of the press and politicians so eager to get elected that they too parrot the press with words like " collapse, meltdown, worse economy sinse the great depression
2.4 million jobs lost in 2008, the biggest number sinse 1945
Some highlights and quotes;
http://blogs.moneycentral.msn.com/topst … flaws.aspx
If fear and panic are driving this downward frenzy we can look at a hostile press who has been demeaning and spiteful towards W for eight years and say " okay, you have your man in there, now please stop. "
Is it impossible that with daily good news and pep talks is all that is required to turn things around? Now people are scaird and they aren't spending any money. It's like a snake eating its own tail.
I for one would hate the press, because they would have had a hand in causing all the fear. Many agree that despite the real losses, fear is a bigger factor in turning this into a full fledged global calmity. You have to lay that at the feet of the press and politicians so eager to get elected that they too parrot the press with words like " collapse, meltdown, worse economy sinse the great depression
2.4 million jobs lost in 2008, the biggest number sinse 1945
Some highlights and quotes;
I do not believe these numbers will reflect most season holiday retail workers, who have or will soon get the ax.A barometer on layoffs due out Thursday is expected to show that the number of newly laid off people signing up for state unemployment insurance last week rose to 540,000, up from 492,000 in the previous week, according to economists' projections.
"Many companies have a bare-bones mentality. With labor being their biggest expense, you will see them continue to drop the ax on jobs," said Richard Yamarone, economist at Argus Research. "There is absolutely no reason to believe the economy is going to be creating jobs any time soon. There are just no reasons for companies to flick on the hiring switch."
Electronic unemployment filing systems have crashed in at least three states in recent days amid a crush of newly jobless Americans seeking benefits.
http://biz.yahoo.com/ap/090107/financia … .html?.v=2Consumers and companies are folding under the negative forces of the collapsed housing market, a global credit crunch and the worst financial crisis since the 1930s. The recession, which started in December 2007, already is the longest in a quarter-century.
The expectation of more job losses ahead "will only perpetuate the vicious downward cycle propelling the economy," said Bernard Baumohl, chief global economic at the Economic Outlook Group.
http://blogs.moneycentral.msn.com/topst … flaws.aspx
