Some bad US unemployment numbers for December…
North Carolina is at 8.7%
California reached an amazing 9.3%
Georgia and Florida hit 8.1%
Oregon is checking in at 9% with Washington at 7.1%
New York jumped a full percentage point to 7%, while New York City itself reached 7.4%. When you realize that the unemployment numbers for the next few months will be much worse, and that those are “official” stats and that the real numbers are maybe twice as high,…well that spells BIG trouble.
On top of this, corporate earning figures for the last quarter are starting to be released. General Electric profits were released today and they show a loss of 46%. See
HERE
Freight rates for containers shipped from Asia to Europe have fallen to ZERO. That’s right ZERO. And for the first time since records began, underscoring the dramatic collapse in trade since the world economy buckled in October. See HERE
Britain is heading for economic depression for the first time since the 1930s, economists have warned. ” Families must brace themselves for a slump of far greater severity and longevity than the recessions of the 1980s and 1990s, they warned. They said the current crisis will be of a scale to rival the biggest peace-time crisis in modern history — the Great Depression.
The warning was delivered by economists and politicians after the Office for National Statistics revealed that the economy shrank by 1.5 per cent in the final three months of 2008 alone. ” See more HERE
And the British Government has been forced to admit that burglaries, fraud and robberies at knife point have risen steeply, in the first sign that the recession is fueling an increase in crime. See HERE
