Unemployment Crisis
Talk about a lame duck. George Bush can't wait for the next 60 days to come and go. He has seen his Administration suffer under what's admittedly the worst financial crisis since the Great Depression. The unemployment rate has been climbing for months and now stands at 6.5%. October's drop in payroll employment followed declines of 127,000 in August and 284,000 in September. Employment has fallen by 1.2 million in the first 10 months of 2008; over half of the decrease has occurred in the past 3 months.
The loss of 1,000,000+ jobs this year portends serious problems for 2009 without GM going bankrupt.
Can Obama work a miracle? U.S. President-elect Barack Obama said on Saturday that he was crafting an aggressive, two-year stimulus plan to revive the troubled economy, warning that swift action was needed to prevent a deep slump and a spiral of falling prices. "If we don't act swiftly and boldly, most experts now believe that we could lose millions of jobs next year," Obama said in prepared remarks for the weekly Democratic radio and video address. "We now risk falling into a deflationary spiral that could increase our massive debt even further."
Risk? Risk you say!
The U.S. automobile industry could add another 1,000,000 lst jobs to that data if they don't gt some government help. Everyone knows that but how can we keep bailing people out? Who's gonna bail out the U.S. government? The unemployment rate in some rust belt states is now double digits. Can another stimulus bill help?
Congress will send President-elect Barack Obama an economic stimulus package the day he takes office Jan. 20, two Democratic lawmakers said today. Senator Charles Schumer of New York said on ABC’s “This Week” program that the package will be between $500 billion and $700 billion. House Majority Leader Steny Hoyer, of Maryland, said on “Fox News Sunday” that he believed the Inauguration Day goal would be met, but he declined to put a price tag on the bill.
How low can the economy go and how high can the unemplyment rate go?
Well, when you think 6.5% is bad, consider the following unemployment rates:
>South Africa- 23%
>Afghanistan- 30%
>Kenya- 40%
>Zambia- 50%
>Zimbabwe- 80%
And the worst is yet to come!
The IMF's chief economist has warned that the global financial crisis is set to worsen and that the situation will not improve until 2010, a report said Saturday. Olivier Blanchard also warned that the institution does not have the funds to solve every economic problem. "The worst is yet to come," Blanchard said in an interview with the Finanz und Wirtschaft newspaper, adding that "a lot of time is needed before the situation becomes normal."
Isn't there a pill we can take? :-(
(ArticlesBase SC #654850)
Article Tags:
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,President-elect Barack Obama
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Do your homework to find the most reliable charities and organizations that can demonstrate they are making a difference for the homeless and then donate your time, money or available resources.
How much more DEBT do we think we can continue to add without some really serious consequences that NO BAILOUT can cure? It's time that our politicians WAKE UP! Maybe we need to wake up and throw them out of office.
Where are we heading in the stock maket in 2010? COuld January have been a clue for us?
Nigeria is a country blessed by God, with abundant human and material resources, but the inability of the leaders of the country to manage these resources well or to utilise opportunities presented by these resources has kept the country perpetually below the poverty level, for which reason there is want in the midst of plenty in the country.
We've moved so far away from the historical principles of most religious teachings. The ego has taken the discussion out of the esoteric and put it on the exoteric or externals and therein we've missed the major nutrients of the spirit.
What most news media are blowing off as unimportant, and a small fringe group movement (Tea parties) just might be the seens of a coming revolution: one much sooner than we think.
Things are moving very rapidly these days but they are going to go even faster. To whom much is given..............much is required.
Thee is so much more to be known about our universe, our planet, and our energy bodies that we have no time for messing with all the junk that seems to occupy our days- and nights.
Where wew are headed can come far mroe quickly than we imagine because we're using 300 year old scientific reasoning.
It's usually not a good sign when the bankeres of the world call for a secret meeting. And it's especially disconcerting when they do so on the eve of several potential nation-state bankruptcies.
Could we be looking at some unique unification of those things which were once divided?Could we be looking at some major breakthoughs in life?
Me thinks we think too much of our Western scientific reasoning ability- if it's even rationale at all. Could it be that shamans and medicine men are more in touch with reality than our scinetists?
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