Picture of an Economy Collapsing
The dramatic drop in production in the last quarter of 2008 actually understates the magnitude of the problem with our economy.
Archive for January, 2009
Unemployment Gets Worse in Every State
The Bureau of Labor Statistics provided the data for the chart below.
In a sea of bad news, the water just got a little deeper, as every state in the United States reported a month over month and year over year rise in their rate of unemployment.
It is not surprising that the agricultural states in [...]
Bailed-out Banks Keep Senior Executives
A report from the Associated Press today discloses that nine out of ten banks that got bailout funds have kept their senior management in place. In other words: “The same executives who were at the controls as the banking system nearly collapsed are the ones the government is counting on to help save it.”
The regular [...]
Asia Takes a Hit
Slowing world demand is crippling some Asian economies. China’s economic growth is slowing, India is suffering, and South Korea and Taiwan are plunged into a severe recession of their own.
Pictures of a Global Recession
Graphic depiction of the extent and depth of the global recession now affecting the world’s economies.
Economic Outlook for 2009
Predictions for the American economy are all over the map. The most optimistic prediction I see calls for the first half of 2009 to continue its decline, with unemployment reaching 7-8% by the end of June. Recovery will begin in the second half, and the economy will end the year with a net growth of [...]
