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Thread: USA 2008: The Great Depression

  1. #31
    Elite Member Mr. Authority's Avatar
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    Aww Marie I'm sorry about your mom. I'm sure she's resting in peace watching over you.

    But anyway back on topic, more bad news for the economy:
    Employers Chopped 80,000 Jobs Last Month; Jobless Rate Rose to 5.1 Percent


    WASHINGTON (AP) -- Employers buffeted by talk of recession slashed 80,000 jobs in March, the most in five years and the third straight month of losses.

    At the same time, the national unemployment rate rose from 4.8 percent to 5.1 percent, the clearest signal yet that the economy might already be shrinking.

    The new snapshot of the job market, released by the Labor Department Friday, underscored the damage that a trio of crises --in the housing, credit and financial sectors -- has inflicted on companies, jobseekers and the economy as a whole.

    "The labor market has indeed turned south," said Joel Naroff, president of Naroff Economic Advisors. "That was the one last bastion of hope to stay out of a recession. Now the question is how deep and how long will it last?"

    The unemployment rate was the highest since September 2005, when significant job losses followed the devastating blows of Gulf Coast hurricanes.....




    Read more: Huge Job Losses Set Off Recession Alarms: Financial News - Yahoo! Finance

  2. #32
    Elite Member Fluffy's Avatar
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    The Bush tax cuts for the rich should be repealed!

  3. #33
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    Quote Originally Posted by Mr. Authority View Post
    The government doesn't care about bailing out the people. they only care about bailing out the banks and helping the corporations with the bottom line. A real "people's" government would do more than send out weak stimlus checks that would do shit, they'd hold the corps and oil execs responsible for getting us into this mess.

    As far as I'm concerned, the US government is showing it's true face in terms of "corporate welfare". It makes more sense to them to help out the suits with money instead of "those people" with food stamps.
    Agreed. Politicans will do as little as possible to "placate the masses" as their standard of living declines. But nothing of value will be done until the elite feel the financial pain so many others in this country are feeling.

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