All economic indicators pointing the wrong way
From the Washington Post today:
The stock market fell another 5 percent, as measured by the Dow Jones industrial average, which closed below 8,000 for the first time in this bear market. New-home starts in October were the lowest since at least 1959, when the government began keeping data. The consumer price index plummeted by the most since that series of monthly data was started in 1947, as the economy slowed so abruptly that companies had to slash prices to sell products.
And Federal Reserve leaders released projections indicating they expect the economy to worsen significantly in the coming year. The most pessimistic of 17 Fed officials expects joblessness to rise to 8 percent at the end of 2009, which would be the highest in a quarter-century.
The number of Americans who applied for unemployment benefits for the first time hit a 16-year high last week, pushing the rolling herd of jobless citizens receiving this type of government aid to its highest level in 26 year
There has never been a better time to start getting your own house in order- try anyway possible to boost your earning power, and, most importantly, cut costs.
