Blog 2 (future)

Recession on track to be longest in postwar period
Date: 8 March, 2009
URL: http://finance.yahoo.com/news/Recession-on-track-to-be-apf-14576641.html

What caught my attention to this article is how it started 'Factory jobs disappeared. Inflation soared. Unemployment climbed to alarming levels. The hungry lined up at soup kitchens' such strong words to start an article which I found in Yahoo Finance section. This article compares this recession to the the one of 1981-1982 but experts suggests that this period of time might or will be worst.
--In January, reports showed 207,000 manufacturing jobs vanished in the largest one-month drop since October 1982.
--Major automakers' U.S. sales extended their deep slump in February, putting the industry on track for its worst sales month in more than 27 years.
--Struggling homebuilders have just completed the worst year for new home sales since 1982.
--There are 12.5 million people out of work today, topping the number of jobless in 1982.
Full of Negativity and no hope but as a reader you feel like its real and truthful:
"This recession is broader, deeper and more complicated than virtually anything we have ever seen," Wachovia Corp. economist Mark Vitner said. "The whole evolution of the credit markets resulted in all sorts of complex financial instruments that are difficult to unwind. It's like trying to unscramble scrambled eggs. It just can't be done that easily. I don't know if it can be done at all."
After comparing the past recession of 1982 to know the article ends with a very sarcastic quote from the writer:
He said he sees fear in the eyes of his clients.
"I've had people come up and hug me after a presentation, which is unusual," he said. "I haven't told them anything about how it's going to be better, but they just feel better having a better understanding of what's happening."
Basically were all in danger, and the worst is yet to come????????????