POLITICS - Consumer confidence in the United States dropped to an one-year-low in August. 68.9% of Americans in August thought the economy is getting worse and are cutting back on their spending. In July Americans 66.6% said the economy was getting worse.
This pessimistic forecast is combined with unemployment at a 26-year high. Staff reductions at major corporations during the American Recession (or Great Recession) may take years to recover.
Worse there has begun to be signs of a depression. Large store chains are discounting merchandise in an effort to lure shoppers. When costs drop (deflation) combined with a prolonged recession that means we're in a depression.
At the moment the inflation/deflation rate (aka the consumer price index) is holding steady at 0.3%. This stagnation is a dangerous sign that deflation and depression may be on its way. Most of that 0.3% inflation rate is actually the result of more expensive gasoline... the rest of the U.S. market is seeing deflation of prices.
So deflation is definitely happening in the USA... but the fact that we may be in a depression hasn't sunk in yet because GDP is still up for the moment and there are signs of both recovery and stagnation. The direction the economy is going, up or down, is anyone's guess.
Subscribe to:
Post Comments (Atom)
Featured Posts
|
The Sarcasm Symbol
Ever had some confusion online or with your cellphone when someone fails to catch the sarcasm? Well now with the SarcMark you can ge... |
|
Behold, the Scorpion Hydrogen Supercar
CARS - To the right is the future of supercars... it is a hydrogen supercar called the Scorpion. The Scorpion from Ronn Motors in Texas is t... |
|
Documents show Stephen Harper misusing public funds
CANADA - According to 950+ pages of documents obtained by the Canadian Press under the Access to Information Act the Privy Coun... |
|
Pink's Rosie the Riveter
ENTERTAINMENT - What I like about this video is how it meshes different social movements like feminism, veganism, anti-capitalism... |
|
California's Dustbowl
ENVIRONMENT - The photo on the right is a farm in California that has been put up for sale. Its just one of thousands of farms that are n... |
|
Is Steampunk the New Goth???
GOTHIC - Watch out what you see on the subway late at night because while in 2001 you might have seen some pretty freakish goths, by 20... |
|
Do you have enough Ice Water in your diet?
HEALTH - A Calorie (large C) is a measurement of the amount of energy needed to raise the temperature of a litre of water (1 kg's worth) ... |
|
North Korean timeline towards Inevitable War
POLITICS - The following is timeline of events that have occurred on the Korean Peninsula. 1945 - Japan surrenders to the United States a... |
|
Judgment Day is Tomorrow, so sayeth Cult
RELIGION - According to a cult based in California, Judgement Day is tomorrow (May 21st 2011) and Jesus Christ will return to the Earth a... |
|
Sex in Space Forbidden
SEX/TECHNOLOGY - Sex in outer space is a big no-no according to NASA. Not for professional astronauts at least, but the growing numb... |
Popular Posts / Last 30 Days
-
Visit amazon.com/author/moffat to get free short stories and huge discounts on fantasy books by Charles Moffat. Sale ends on October 20th... -
CANADA - I am henceforth boycotting Yak Canada and encouraging other people to do the same. A telemarketer from Yak Canada called me on my... -
By Charles Moffat - September 2010. ENTERTAINMENT - Vanilla Coke was first introduced in 2002 and despite widespread popularity and being ... -
CANADA - The reputation of the Toronto Transit Commission's buses, street cars and subways' drivers is just going from bad to worse...
-
TECHNOLOGY - Scientists have discovered a solar system similar to our own approx. 100 lightyears away with 7 or more planets orbiting the s... -
CANADA - The Conservative minority government of Canada has committed itself to buying 65 new fighter planes at a cost of $140 million each...
-
CARS - The first mass-market electric cars go on sale in December 2010, but will the electricity grid be able to take the extra stress? Wil... -
CANADA - In the early 1990s immigration actually helped saved the Canadian economy from the recession . Why? Home sales. More population,... -
By Zehavi Abramsky - May 2010. CANADA - The group Queers Against Israeli Apartheid has been banned from joining in with the Gay Pride cele... -
And the similarities don't stop there. Hitler and Trump have a lot more in common. The context in which Adolf Hitler was elected is...
No comments:
Post a Comment
Comments containing links will be marked as spam and not approved. We moderate every comment. If you want to advertise on this blog it is $30 per link.