Monday, May 7, 2012

Gloomy Economic News

I saw many articles this weekend that the global economy is not recovering any time soon. We may have wait several years for the "sun to come out tommorrow."
No End in Sight to Global Jobs Crisis: UN Agency
"The global employment market that shows no sign of recovering, the International Labour Organization said on Sunday. In advanced countries, especially in Europe, employment is not expected to return to pre-crisis levels of 2008 until the end of 2016"
95 Percent Of The Jobs Lost During The Recession Were Middle Class Jobs
A higher percentage of Americans are working low income jobs than ever before, and the cost of living continues to rise at a very brisk pace. This is causing an erosion of the middle class unlike anything we have ever seen in American history. ... [for] college graduates, the future is not so bright. Last year, a staggering 53 percent of all U.S. college graduates under the age of 25 were either unemployed or underemployed.
Hugh Hendry On Europe "You Can't Make Up How Bad It Is"

We have reached a profound point in economic history where the truth is unpalatable to the political class - and that truth is that the scale and magnitude of the problem is larger than their ability to respond - and it terrifies them.

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