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? :-(
Related Tags: bush, obama, great depression, unemployment rate, unemployment crisis, lame duck, president-elect barack obama
As a spiritual-futurist, I interpret current events in light of possible macro-universal forces at play leading up to 2012, but not limited to it.
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Is SEO Optimisation Important Today?
Those who have tried setting up their own websites know just how competitive the online market reall - How to Shop Fearlessly, Look For Bargains, And Save Time and Money on the Web?
With the advent of online shopping, going to outlets and discount shopping centers may become an act - Roll Up Stand Changing Vendor Booths
Most people have been to trade shows, home shows, state and county fairs and other places where ther - Achieving Your Advertising Goals With a Roll Up Stand
Advertising is a common function of a business. However, it requires creativity and hard work to ens - Trade Show Displays and Expos
Trade Shows and community business Expos provide a captive audience for your business, to get the wo - How to Make Sure Your Newsletters Are Sent Out on Time
There are three key elements to making sure your newsletter is delivered on time: People, planning, - Portable Displays - Trade Show Displays
Portable Displays are the best option for exhibitors when it comes to Trade Shows. Portable Displays - Banner Displays - a Great Portable Display
Banner Displays are considered one of the most portable displays when used for trade shows. They com - Small Business Reputation Management - Your Small Business Information Could be Wrong
Bad information could be out there circulating on the Internet this very minute about your business - Eight Guidelines For Writing Newsletters That Engage Your Readers and Build Your Business
Want to write newsletters that engage your readers and help to build community? Whether you are a sm
Most viewed articles in this category:
- Adsense Is Making Me Rich
I want to talk to you about the power of Google AdSense and how you can use it to generate not hundr - How to Increase Your Business Using the Esoteric Science of Radionics
As a small business owner, there are an amazing number of difficult skills I need to master so my bu - 14 Top Lead Generation Tips
According to former Harvard Business School professor David Maister, typical marketing practices are - More Marketing Dope
Direct marketing can make you very successful, but you’ve got to understand the basics. Here a - The State Of Paid-To-Surf Programs Today
What a difference a year can make. 12 months ago, auto surf programs were at their peak. More an - Should You Open Up An Ebay Store?
Ebay has provided some amazing opportunities for many people to earn online. This widely popular au - Is Adsense A Good Idea?
For many webmasters, Google AdSense has become a great revenue generator. Since the program pays th - The "Coat Of Arms" Revisited
Recently I listened to a interview with Mark Joyner and Gary Halbert about Gary's famous "Coat of Ar - Brand Loyalty
It's a challenge getting consumers to remain loyal to a particular brand. Unlike the good old days w - The Hottest Affiliate Ebooks Out in the Market Today!
Affiliate Project X is a great affiliate marketing ebook. Totaling only 50 pages you could have your
