Friday, January 30, 2009

Another gloomy outlook for 2009

It seems that the economic tsunami pounding us in 2008 is not about to take rest. It seems that its going to gather strength to form the real giant wave that will eventually going to hit our shores.

What we are facing is global economic meltdown, unless you are holed up in a cave somewhere in Myanmar or Afghanistan where life is more or less the same whether the economy is up or down, than its going to affect you.

Present event formed future trend so said Greald Celente . He went further to predict that the the fear of 07 turned to the panic of 08 will turn to the collapse of 09. Meaning the whole thing has yet to peak and maybe 2009 we will hit the cresendo where things will unravel. What exactly are the full effect of this are not known.

Major bancruptcies of US retail businesses are expected by february 09. The side effect of this is the collapse of US commercial property sector which will be bigger than sub prime fiasco. The US and Japan auto maker are struggling to stay afloat. The economic giants is stumbling and failing. Even with its multi trilion stimulus package, there is no way they can afford to pay to stimulate themselves (click here).

So guys, on the homefront,we are looking into up to 10-15% unemployment. We have 60,000 young people entering the job marke every year and about 2 million unemployed immigrants with nowhere to go .When you have millions of people lying idle, who have nothing to do and nothing to lose , that is where the nightmare shall begin.

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