Global recession is worse the the Great Depression, so says the IMF.
According the International Monetary Fund,"by far the deepest global recession since the Great Depression." To cushion the blow and head off further damage next year, the IMF is calling for more stimulus projects from the word's governments, including major spending for public works projects.
ROFL, yah, that'll work! Throw good money after bad guys, that always fixes any problem!
California, Florida, Arizona and Nevada are reflecting the highest foreclosure rates, the areas in those states hardest hit are discussed in the story. Why those areas tho? Is there no industry to support it's population? With economists all over the world projecting another 15 to 25 million people unemployed by the end of 2010, that's kind of painting an ugly picture for our future.
What happened to President Obama's assurances that the recession is over and we all need to go out and buy a new car?
I leave the farm once a week for fuel. I frequently go 3 weeks to a month at a time without having to "shop" anywhere. When I do have to shop, I do whatever I can to avoid Walmart. Hate the place with a passion. The farming allows me to be out in my rural area and see what's going on around me. I don't much like what I see. Tons of for sale signs on houses, plenty of vehicles and boats with for sale signs on them. Farmers in the area are feeling the pinch, Im seeing half the work acoss the board, less tree removal/cleanup, less garden tilling work, less misc livestock work, nobody has any money to spend for help. So, they are either doing it themsleves or not doing it at all. The price of animal feed is still way up even tho grain prices have fallen. Fertilizer is outrageously priced, most farmers locked in when the prices were really high for fear it would go higher and now that it's dropped some, they're stuck in their contracts. Some of the smaller farmers in the area are talking about leaving the fields fallow. Hard to plant ground that's costing $300 an acre to farm when you will only make a $150 return. Then I read this story about the dairy farmers industry which also worries me. If this keeps up and dairy farmers do like some of the farmers around here are thinking, what will happen to the availability of milk products? Of course, the government is right there to bail them out with a dairy buyout program. Big government making sure there's nowhere to buy your milk or cheese unless you buy it from a corporate(government controlled) run dairy!
What's wrong with people? Why doesn't every single person in this country see what's going on? Why do people still, every single payday, run out to Walmart and spend every single dime they made? Why are people still eating out every day, buying big screen TV's and watching biggest loser?
Well, I'm going outside to plant more potatoes and onions while the weather is still nice. They won't plant themselves!
Don't forget to look thru the post archives, tons of stuff there.........
Frying Pan Tower Lighthouse...!
7 hours ago