What's Happening Today ? (6)

Today, we have some "magic" from our esteemed government. With New Jersey, Georgia and Washington states all reporting highest unemployment levels in years, with a growing number of prime (not to mention sub-prime) mortgages going into re-posession, with U.S. stocks falling >again< on the back of FedEx reported (and expected) losses, with Congress disallowing an increase in unemployment benefit times for those in need - what do we get? We have Forbes announcing a survey of major CEO's indicating over 60% expecting a decrease or no change in spending (hint-no new jobs) with only 33% expecting any growth. Put that with the fact that these are the players from major multi-national corporations and you have an overall picture of bleakness. If companies on the whole are not expanding world-wide, then what's this going to do for job creation in the U.S??

A new UCLA Andersen Forecast report continues to tout it's own "no recession" theme, yet in the same report expects U.S. GDP to be at 1.7% - "very tepid" until the end of '09 - AND states that the mortgage meltdown is likely to continue unabated. One wonders what it needs to see to have a bad forecast - and who's this report for?? Oh yeah, the government....

thats all for now!
Later!!