Posts tagged: economic forecast
Good morning, Netizens…
WASHINGTON (Reuters) - U.S. employers cut a deeper-than-expected 263,000 jobs in September, lifting the unemployment rate to 9.8 percent, according to a government report on Friday that fueled fears the weak labor market could undermine economic recovery. The Labor Department said the unemployment rate was the highest since June 1983 and payrolls had now dropped for 21 consecutive months.
How much worse could it get?
Of course, in certain areas of Washington, DC they still persist in singing this song:
So long sad times
Go long bad times
We are rid of you at last
Howdy gay times
Cloudy gray times
You are now a thing of the past
Happy days are here again
The skies above are clear again
So lets sing a song of cheer again
Happy days are here again
get worse you know? Or it could get better.
Of course it could. “If I cannot bring you comfort, at least I bring you hope.
The movie “Toys”
Good afternoon, Netizens…
A good friend forwarded this rather lengthy piece to me and, upon reading it through twice, I began to listen and anticipate what the author had to say. Could it happen here, in the land of milk and honey? The author of this piece accepts that it might happen, asserting that it happened once before in history. It is a good tidbit for thought nonetheless.
“Civil War in the United States?”
By Immanuel Wallerstein
We are getting accustomed to all sorts of breakdowns of taboos. The
world press is full of discussion about whether it would be a good
idea to “nationalize” banks. None other than Alan Greenspan, disciple
of the superlibertarian prophet of pure market capitalism, Ayn Rand,
has recently said that we have to nationalize banks once every
hundred years, and this may be that moment. Conservative Republican
Senator Lindsay Graham agreed with him. Left Keynesian Alan Blinder
discussed the pros and cons of this idea. And while he thinks the cons are a bit bigger than the pros, he was willing to spend public intellectual energy writing about this in the New York Times.
Well, after hearing nationalization proposals by arch-conservative notables, we are now hearing serious discussions about the possibilities of civil war in the United States. Zbigniew Brzezinski,
apostle of anti-Communist ideology and President Carter’s National Security Advisor, appeared on a morning television talk show on February 17, and was asked to discuss his previous mention of the possibility of class conflict in the United States in the wake of the
worldwide economic collapse.