FlintTalk.com Forum Index > Political Talk Topic: Recession/Depression

Author    Post   Adam Ford F L I N T O I D I predict depression. Signs Point To Harder Times Businesses cut prices at a record rate and builders started fewer new homes last month than anytime on record, according to new government data, as the outlook for the economy continues to dim. The data helped spur another terrible day for the stock market, as did a projection of more hard times ahead by leaders of the Federal Reserve. A serious recession now appears all but assured. Jobless claims jump unexpectedly to 16-year high WASHINGTON – New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday, providing more evidence of a rapidly weakening job market expected to get even worse next year. The government said new applications for jobless benefits rose to a seasonally adjusted 542,000 from a downwardly revised figure of 515,000 in the previous week. That's much higher than Wall Street economists' expectations of 505,000, according to a survey by Thomson Reuters. That is also the highest level of claims since July 1992, the department said, when the U.S. economy was coming out of a recession. The four-week average of claims, which smooths out fluctuations, was even worse: it rose to 506,500, the highest in more than 25 years. In addition, the number of people continuing to claim unemployment insurance rose sharply for the third straight week to more than 4 million, the highest since December 1982, when the economy was in a painful recession. _________________ Adam Ford Thu Nov 20, 2008 1:02 pm  Ryan Eashoo F L I N T O I D This is a crazy world we live in today, everything changed after Sept 11th! _________________ Flint Michigan Resident, Tax Payer, Flint Nutt - Local REALTOR - Activist. www.FlintTown.com Thu Nov 20, 2008 1:29 pm  back again F L I N T O I D an amazon employee told me just 2 hours ago the warehouse here in las vegas has laid off half their employees and severly cut the hours of the remaining. he also said their stock dropped HALF... Thu Nov 20, 2008 9:17 pm    Display posts from previous:   All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First

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