Private job losses mount, ominous for payrolls | Markets | Hot Stocks | Reuters
Flash estimates say another 700.000 jobs were lost in the US in December, making a probable new unemployment rate at the end of the year 2008 of 7.3%...
the US unemployment has now cought up with Europe, and is predicted to race by in a hurry. Europes unemployment has for a long time been in the 7ish % area, while that in the US was as low as 3.8% at the same time..
I actually told all of you guys this some years ago, that it would happen, in some of my posts.. But no, you wouldnt listen..
Atm, I would not be surprised to see a future total economic collapse in the US, especially as a result of other bad news that your government is going to have a 2 trillion$ deficit on the federal budget next year. Tax incomes in the US are 2.6 trillion. So 2 trillion in deficits seems quite scary. People will just rush to wherever they can to have their US assets withdrawn, which will again lead to further decline..
I fear you are stuck in a bad downward spiral, which seems unlikely it will ever stop. And you are dragging other economies with you, Europe for example who is also experiencing economic setbacks, and China with slower growth, while the overall world economy will only grow around 2.5% next year.