Tuesday, January 27, 2009

More Dreary Economic News

Things are bad ... and getting worse, and worse, and worse.

Economic news today tells us that there are layoffs across the spectrum of types of businesses. Jobs are evaporating. Times are bad. We are speeding headlong into a depression. Headline in the New York Times, today: "Layoffs spread to more sectors of the economy" -- with a link to a related article first printed/posted ten days ago, "Your money: Preparing your budget for disaster." An AP report, today, tells us Consumer Confidence is down to its lowest levels in the history of that measurement, which began monthly polling in 1967.

The "Layoffs ..." article tells us Home Depot, Caterpillar and Sprint Nextel have announced major layoffs. Caterpillar is cutting its payroll by 16%. Texas Instruments is cutting 12% of its workforce. Microsoft has "announced its first significant job cuts ever." And there is more, and more, and more news like that as everything swiftly spirals in an escalating speed toward disaster.

Rather ironically, bad times with more people in need means that there will be less government money for the poor.

As hopeful as many of us are that having put fresh, vital blood into the White House things can be turned around, our national government may simply not have enough it can do to stop the meltdown.

Be prepared to greet many, many confused and disoriented people, refugees from the middle class, into Homeless World Sacramento.

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