- The most striking image of the economic crisis can be found in the neighbouring port of Long Beach. Drive into Long Beach port and you notice a vast parking lot filled with brand new cars as far as the eye can see.
These are the Toyotas or Mercedes that were ordered a year ago!
--Foreclosures soar 76% to record 1.35 million
That's a 76% increase from a year ago, according to the group's National Delinquency Survey.
--Lost: 1.9 million jobs
--The 2008 tally soars after payrolls shrink by 533,000 in November, the biggest one-month decline in nearly 34 years. Unemployment soars to 6.7%.
--The number of college grads seeking work is at an all time high, which means more bad news for the broader economy.
--In November the number of people with a higher degree who were out of work rose to 1.413 million from 1.411 million in the previous month.
--According to Stateline.org, states are facing budget deficits worth $97 billion over the next two years.
--Like it or not, there's only one way we're going to be able to pay for our ballooning deficit: a value-added tax. CALLED VAT ( Value added tax or a GST similiar to CANADA)
The beginnings of RIOTS:
--Riots sweep GREECE after police shoot boy dead
--CHICAGO: Ex-workers occupying plant in shifts
"They're throwing people out on the street with three days' notice, penniless," said Leah Fried, an organizer with United Electrical, Radio and Machine Workers.
--Economic Riots in Iceland Ominous for USA
-Carmaker BMW says global sales fell 26.2% in November, as consumers tighten their belts amid the economic slowdown.
--UK car parts firm jobs threatened Shares in Wagon were suspended in October after it reported a "steep deterioration" in the European car market and said it was in talks with lenders about its funding situation.
The firm - which is controlled by the American billionaire Wilbur Ross - is facing administration because it has failed to persuade its banks to led it more money.
--German car downturn 'worst ever'. The downturn in the German car market is "at a pace and magnitude that has never happened before", the country's main auto trade body has warned.
No comments:
Post a Comment
Everyone is encouraged to participate with civilized comments.