In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘unemployment’

A Generation of lost wealth

Posted by smeddum on March 6, 2009


Jim Willie CB                        March 5, 2009



A couple of bright friends reported to me some overriding themes at the PDAC gathering in Toronto last weekend. Apparently, some surprise came to them. They mentioned that more than a few analysts, writers, and speakers still do not get it. They actually believe the situation with the USEconomy and US banking system has begun to stabilize. That is like saying a college basketball player has Michael Jordan under control, or a farmer has his Clydesdale horse under control, or a misguided King can call back the ocean tide, or a man has a hurricane under control as he clings to a roof rafter. The USEconomy has entered an accelerated phase of disintegration, while the populace has entered a new panic phase. The US stock market is under the microscope, and it just broke a key multi-year critical support level. This article is intended to be constructive, with a list of perceived meters and conditions, followed by a four-step foundation for a recovery. When finished reading the four planks, one should easily conclude that no solution, let alone attempt, is on the correct path or is in the works. Read the rest of this entry »

Posted in Financial crisis | Tagged: , , , , | Leave a Comment »

Grim prospects for UK economy

Posted by smeddum on August 24, 2008

By Seasn O’Grady
Sunday, 24 August 2008 Independent

All agree we’re close to recession. The revised GDP figures released last Friday pretty much confirmed that two successive quarters of negative growth – where the economy shrinks, which is the conventional definition of “recession” – cannot be far away. In case you hadn’t noticed, the economy ground to a halt in the second quarter of the year, and almost every leading indicator suggests that activity will slow further over the next year. But how bad will things get? And what will be the consequences? Read the rest of this entry »

Posted in Financial crisis | Tagged: , , | Leave a Comment »

%d bloggers like this: