David Sirota: Welcome to the recession.

[marmar]

from OurFuture.org:



Bad News Out Here In the Real World
Submitted by David Sirota on January 9, 2008 - 12:09pm.


In in the real world outside the presidential campaign bubble, there's some really big, bad news from the BBC:

"The feared recession in the US economy has already arrived, according to a report from Merrill Lynch. It said that Friday's employment report, which sent shares tumbling worldwide, confirmed that the US is in the first month of a recession."

This is very troubling - as is the fact that it is basically being ignored by the American media. I mean, really: It's pretty sad that our celebrity-obsessed media is so consumed in its efforts to turn the presidential contest into a glorified television show that we have to rely on British news outlets to deliver this huge news about our economy.

http://commonsense.ourfuture.org/bad_news_out_here_real_world?tx=3

[Hydra]

1. A big component of our economy is consumer confidence

If people get scared and refuse to spend, our economy grinds to a halt. That's why they absolutely CANNOT admit it.

Personally, I think we're in a depression, but at least I'm still working, even if it isn't a living wage. Lots of people are going to die from this when the cows come home, IMO.

[bpeale]

3. i agree Hydra ... this is our worst fears come true ... a depression

i'm trying very hard to pay off all my credit cards & excess debt to free up my money. i read an article not that long ago that the dollar will loose 80% of its value over the course of this year. this is really scary indeed.

[Double T]

2. Anyone that has a pea sized brain already knows that we are in a recession.

The corporate media will never admit we're in a recession that corporate america and wall street are wholly responsible for creating.