The average working class american trying to support a family is in dire straights.
It's odd how we can have a 'financial shock' on par with The Great DEPRESSION, and yet people are still saying we're not even in a recession.
I just love the below comments about how the Fed bail-outs 'improved sentiment in the financial markets'...I bet it did, for all the billionaires who got rescued from their criminal enterprises. haha
Simon Johnson, the IMF's director of research, said later the key risk to the forecasts was the danger of a vicious circle emerging, as house prices continue to fall, dealing a fresh blow to the banks, and exacerbating the problems in the markets. "Sentiment in financial markets has improved in recent weeks since the Federal Reserve's strong actions with regard to investment banks. But we have seen how strains in markets can quickly become reinforcing, and the possibility of a negative spiral or 'financial decelerator' remains a possibility."
www.guardian.co.uk
(visit the link for the full news article)
