Where is There Any Good Economic News ?

The news lately about the US and global economy is all bad. Oil prices will cross the $100 threshold next week, an occurrence unimaginable just a few months ago. The US dollar is in a freefall, having lost over 12 % of its value in recent months against the Euro and more against other currencies. Gold prices are shooting up quickly. The elitist stock market is even in decline, with the Dow having lost about 9 % of its value in the last five weeks. Other indices have seen reversals as well. Retail sales are tanking, the home mortgage crisis grows worse day by day, banks are hemorraging billions of dollars, and the US Treasury has printed about an extra third of a trillion dollars extra to keep the money supply and credit flowing. And prices for all consumer necessities such as food and fuel continue to rise and put the squeeze on everybody.

This is the most grim economic period since the early years of Reagan, over a quarter-century ago. And the most frightening thing is that we are no where near bottom or at a point where the worst is in sight. This will be a long difficult winter for many, and the biggest question awaits --
will we start to see a discernable rixe in unemployment in the coming months with everything else going into the dumper ? Its already seemingly happening in the bellweather state, California.

And to think there is over 400 days left of the Bush Junta in power !