Economy

The Economic Crisis is Over!

Apparently, the GOP is planning on spending around five-hundred million dollars (that's $500,000,000.00) on attack ads to counter Obama's reelection run for 2012.

And the Dems are prepared to set up outside groups to counter that by spending more money.

So the only obvious answer is that we're no longer having an economic meltdown, right? I mean, to spend that kind of money, we have to be out of the hole!

Let's celebrate!

Soros, Volcker: Yep, we're pretty much screwed

Soros Sees No Bottom for World Financial "Collapse":

Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.

Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.

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Krugman: "we could well be losing jobs at a rate of 450,000 or 500,000 a month"

OH SNAP:

I’ve been ruminating over economic prospects for next year, and I’m getting scared.

The economy is falling fast. We’ll see what tomorrow’s employment report says, but we could well be losing jobs at a rate of 450,000 or 500,000 a month.

Time to invest in the fedora hat market.

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