The US Economy's Decline Is Almost Stabilized:

July 24-2009:

The US Economy's Decline Is Almost Stabilized:


The Obama administration seem to believe that the national economy has reached Rock Bottom, and the rate of un-employment is decreasing steadily. So how are we going to know for sure, when employers will re-hire fired employees, start hiring again, or even resort to giving back their employees the normal forty hour per week work schedule?

The current data indicates that un-employment is at 12 %. And that figure will increase, but not greatly as the National Economy Stimulus Package starts taking effect. Any yet I saw in the news that New York State governor is complaining that as yet, he has not received his state's Stimulus Package monies. 

So I am wondering about California's economy on the verge of bankruptcy, with layoffs in the thousands, Federal spending cuts in the millions, shorter working hours across the board for almost every industry or enterprise. And I ask myself if the American people could continue to hold on much longer, hoping that things will improve in their respective areas anytime soon.

Furthermore, only 3% of the Initial Stimulus Package was invested in the economy, so those who are thinking about another stimulus package, should acquaint themselves with the facts, before anticipating catastrophe just yet!

Derryck.
NYC.