Sad. Maybe NC will be among the first to recover. (((((Mercury)))))
People and media should start to speak frankly and to compare with the great depression as you do. Also they should advise people on what to do, not the investments, I mean useful ways to protect ways of life as much as posible. I think that nowadays advise is important to help people. I think that is what counts nowadays, to protect people as much as posible. Peace and best wishes. Xi On 30 ene, 02:11, "Mercury.Sailor" <[email protected]> wrote: > A year after the stock market crashed in 1929, Unemployment was at 8.7 > % at the end of 1930.. At the height of the great depression > unemployment was at 25%. > > SC unemployment rate rises to 9.5 percent in Dec. > > The national rate in December was 7.2 percent. Only Michigan, at 10.6 > percent, and Rhode Island, at 10 percent, were worse off. South > Carolina's increase over November's rate tied with Indiana for the > largest month-to-month jump. > > The state's top economists have predicted the unemployment rate in > South Carolina could reach a historic 14 percent this year, but not > all experts agree. > > http://www.forbes.com/feeds/ap/2009/01/27/ap5972099.html > > On Dec 30 2008, 12:19 pm, "Mercury.Sailor" <[email protected]> > wrote: > > > > > > The jobless rate could reach 8.2 percent at the end of next year > > > compared with last month’s 15-year high of 6.7 percent, according to > > > the survey. > > > In the year 1930 > > > The GNP falls 9.4 percent from the year before. The unemployment rate > > climbs from 3.2 to 8.7 percent. > > > The GreatDepressionoriginated in the United States; historians most > > often use as a starting date the stock market crash on October 29, > > 1929, known as Black Tuesday. > > >http://www.huppi.com/kangaroo/Timeline.htm > > > So according to the time line for the greatdepression, we were in > > thedepressionfor a year before we saw unemployment climb to 8.7%. > > > Thats scares me. > > > On Dec 30, 10:35 am, "[email protected]" <[email protected]> > > wrote: > > > > My comment: I told some months ago that we have to follow this > > > indicator up very closely because it predicts social unrest in all > > > economies. > > > >http://www.bloomberg.com/apps/news?pid=20601087&sid=aw3tMMqHeits&refe... > > > > Dec. 30 (Bloomberg) -- Confidence among U.S. consumers unexpectedly > > > dropped in December to a record low as Americans grew increasingly > > > concerned about jobs, raising the risk that spending will keep > > > weakening into the new year. > > > > The Conference Board’s index of consumer confidence fell to 38, the > > > lowest level since records began in 1967, from 44.7 in November, the > > > New York-based private research group said today. Another report > > > showed declines in property values accelerated. > > > > Rising unemployment, mounting foreclosures and declining household > > > wealth have dimmed the outlook for consumer spending, which accounts > > > for 70 percent of the economy. This year’s holiday season, the most > > > important for retailers, was probably the worst in at least four > > > decades. > > > > “The deterioration going on right now in the labor market made people > > > feel much worse,” said Nigel Gault, chief U.S. economist at IHS Global > > > Insight in Lexington, Massachusetts. “If people are worried about > > > their jobs, they are not going to spend. That is extremely negative.” > > > > Economists surveyed by Bloomberg News forecast the confidence figure > > > would increase to 45.5 from a previously reported 44.9 for November, > > > according to the median of 52 projections. Estimates ranged from 40 to > > > 51.1. > > > > Earlier today, reports showed the decline in home prices accelerated > > > in October as credit dried up and foreclosures mounted, and business > > > activity in December contracted for a third month. > > > > Home Prices Drop > > > > The S&P/Case-Shiller home-price index of 20 U.S. metropolitan areas > > > fell a record 18 percent in October from a year earlier, led by > > > declines in Phoenix and Las Vegas. All 20 cities showed a decline in > > > the year ended in October. > > > > The Institute for Supply Management-Chicago said its business index > > > climbed to 34.1 this month from a 26-year low of 33.8 in November. > > > Readings less than 50 signal contraction. > > > > Stocks trimmed gains following the reports and Treasury securities > > > fell. The Standard & Poor’s 500 index rose 0.7 percent to 875.7 at > > > 10:15 a.m. > > > > The share of consumers who said jobs are plentiful fell to 6.2 > > > percent, the lowest level in 16 years, from 8.7 percent last month, > > > today’s report showed. The proportion of people who said jobs are hard > > > to get increased to 42 percent from 37.1 percent. > > > > Americans’ views about their financial well-being in future months > > > deteriorated. The Conference Board’s gauge of the outlook for the next > > > six months decreased to 43.8 from 46.2 in November. > > > > The share of respondents expecting their incomes to rise over the next > > > six months fell to 12.7 percent from 13.1 percent. Americans were more > > > hopeful of finding jobs in the future. > > > > The measure of present conditions dropped to 29.4 from 42.3. > > > > ‘Dismal’ Outlook > > > > “The overall economic outlook remains quite dismal for the first half > > > of 2009,” Lynn Franco, director of the Conference Board’s consumer > > > survey, said in a statement. > > > > The grimmer view on jobs swamped the effects of the drop in gasoline > > > prices that helped other confidence measures climb this month. The > > > Reuters/University of Michigan’s sentiment gauge rose from November’s > > > 28-year low. > > > > The average price of a gallon of regular gasoline dropped to $1.62 on > > > Dec. 28, down 61 percent from July’s record. > > > > Even so, the decline isn’t enough to undo the damage from the loss of > > > 1.9 million jobs so far this year and the record destruction in > > > household wealth caused by the slump in home and stock prices. > > > > Economy to Shrink > > > > Gross domestic product contracted at a 0.5 percent annual pace in the > > > third quarter, the worst performance in seven years, the Commerce > > > Department said last week. Economists surveyed by Bloomberg earlier > > > this month projected the economy will contract at a 4.3 percent rate > > > this quarter, hurt by another decline in consumer spending. > > > > The jobless rate could reach 8.2 percent at the end of next year > > > compared with last month’s 15-year high of 6.7 percent, according to > > > the survey. > > > > President-elect Barack Obama has expanded his economic stimulus goals > > > and called for creating or saving 3 million jobs over the next two > > > years. Vice President-elect Joe Biden said Dec. 23 the incoming > > > administration and congressional leaders are nearing an agreement on > > > the broad principles of a stimulus policy. > > > > The International Council of Shopping Centers projects this was the > > > worst holiday shopping season, the most important period for > > > retailers, in at least four decades. > > > > “It’s dismal,” Patrick Byrne, chief executive officer of > > > Overstock.com, the Internet seller of discounted brand-name goods, > > > said Dec. 24 in an interview on Bloomberg Television. “It seems the > > > entire retail nation is running a going-out-of-business sale. It means > > > the pricing is very competitive.”- Hide quoted text - > > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. 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