Notice how all the bad news is somehow unexpected.
Sales of previously owned houses unexpectedly slumped in January for the second consecutive month, raising fresh concerns about the housing market’s potential for rebound even as a new report showed that the economy expanded more than previously forecast at the end of last year.
Sales of existing [...]
In surprise news which sent the pound sliding on Thursday, official figures showed that the Government borrowed £4.3 billion last month.
It was the first time since 1993 that the public finances had gone into the red in January – a month in which tax revenues usually push the Exchequer into the black.
Economists said that the scale [...]
…So we can expect that job losses will continue until the end of 2010 at the earliest. In other words, if you are unemployed and looking for work and just waiting for the economy to turn the corner, you had better hunker down. All the economic numbers suggest this will take a while. The jobs just [...]
The stock market’s moving up and some economists are declaring an end to the recession. So, why are people still so pessimistic?
A new national survey says the reality has sunk in that true financial recovery for most people won’t come soon. As a result, consumers aren’t very interested in spending money, they’ve concluded retirement is even [...]
Source: Truthdig
And we have few tools left to dig our way out. The manufacturing sector in the United States has been destroyed by globalization. Consumers, thanks to credit card companies and easy lines of credit, are $14 trillion in debt. The government has pledged trillions toward the crisis, most of it borrowed or [...]
