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IATA, which represents 230 airlines including British Airways, Cathay Pacific, United Airlines and Emirates, has said airlines would lose $4.7 billion this year as a result of the economic downturn that has kept people and cargo from flying.
Shares in airlines and travel firms have fallen sharply around the world on concerns about the economic impact of the swine flu outbreak.
With the outbreak in Mexico spreading to the US, Canada, Spain and the UK, shares in British Airways fell 7.7%, while cruise firm Carnival lost 6.8%.
Investors fear the flu outbreak may lead to people cancelling overseas trips, or even to travel restrictions.
The CBO estimated that a flu pandemic modeled on the severity of the 1918 outbreak could result in the following: • 80% drop in demand for arts, entertainment, recreation, accommodation and food services. • 67% drop in demand for transportation and warehousing. • 10% loss of demand for agriculture, mining, construction, retail trade, finance. • 15% increase in demand for health care and social assistance.
Fear of a pandemic has to make people wonder. In the U.S., where unemployment is expected to top 10 percent before the end of the year, could the shock of a flu outbreak make it 12 percent instead? Think what that would mean to retailers, to people's ability to pay their mortgages, to companies' ability to get work done.
Nothing but another agenda and by the way it looks stinks of private involvement for profits.
Our debt is unsustainable and we as a nation can not longer function anymore with the debt we hold.
Originally posted by jam321
Would you stick around in a store if you saw people shopping like this?
I really don't think I would.
Daddybare, hope to visit you in your Manhattan Penthouse.