I don't think I've read any bit of good news on the economy in the NYtimes since I read "Lehman Brothers falling into bankruptcy" weeks ago. If you've been keeping up, this week's homepage has been sprinkled with bad news after bad news: Retailers reporting double digit % drops in sales compared to last year (although Walmart has been doing well, but they're not even that cheap). Carmakers slashing forecasts. Unemployment rate at its highest in 14 years. I guess since the rest of the country is cutting back on spending, I should too. Oh, the vicious cycle. Banks are dying/cutting back on loans, people can't borrow money to spend, retail/services don't make money, people are laid off and spend even less, etcetcetc.
And, I wonder how Obama's going to fix this mess. I hope people tamper their hopes because I'm not too optimistic. There's only so much the government can do when the country is in a craphole this deep.
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1 comment:
So much for the glass being half full. >_>
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