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Tuesday, July 14, 2009

The Economy Is Even Worse Than You Think

Just in case you weren't already depressed enough, Mortimer Zuckerman (A name like that would depress ME) of the WSJ chimes in on the state of Great Depression Part Deux:

"The recent unemployment numbers have undermined confidence that we might be nearing the bottom of the recession. What we can see on the surface is disconcerting enough, but the inside numbers are just as bad.

The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000, which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all job growth from the previous expansion."

HERE to read Zuckerman's complete top ten list of reasons to slash your wrists.


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Anonymous Anonymous said...

This is absolutely heartbreaking.


title="comment permalink">July 16, 2009 4:54 PM  
Blogger Human said...

Many experts are saying the Dollar will crash before Christmas. China is buying gold like crazy.

title="comment permalink">July 17, 2009 3:09 PM  

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