Blogroll Me! How This Old Brit Sees It ...: United States' economy is in it's worst state since a quarter of a century ago

28 February 2009

United States' economy is in it's worst state since a quarter of a century ago



In our old Brit Londoner's famous rhyming-slang, cockney-speak, it's called "boracic lint". To the rest of we Brits it signifies absolutely "skint".

Translated into American, it says "stony broke".

U.S. economy is in worst decline for more than a quarter century

The U.S. economy suffered a huge nosedive in the final three months of last year, shrinking by a staggering 6.2 per cent.

The figures released by the U.S. department of commerce yesterday far outstripped the worst fears of the government and the gloomiest predictions by financial analysts.

The contraction is the worst decline in America’s gross national product for more than a quarter of a century.

So see the rest of this sad story for yourself.

Shocking? For sure.

Surprising? You've got to be joking

Surely only the extremely stupidest of suckers couldn't see it coming.

Boy, oh boy, oh boy.

What BushCo & their various criminal, greedy and corrupt cronies broke, Barak Obama has got one hell of a job to fix. Temporarily to repair, even.

Well, we sure wish him lots & lots of luck, since he's certainly going to need some.

It's long been said that whenever the US sneezes, the rest of the world catches a cold.

The terrible truth of today is that America has actually already succumbed to one sodding serious case of the 'flu. And as almost all of us have already learned by past personal experience, the flaming 'flu sure is one infamously contagious critter.



Sad to say, we strongly suspect that things are set to get a lot worse before they start to get better.

But what should silly old sods such as ourselves know?

Eh?

After all, this is the 21st century. Things are so much different these days.

So long as one stays silent regarding mere trifles such as wanton warfare, woeful welfare and (still) hardly any real health care.



*(Cross posted across at 'appletree')

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6 Comments:

Anonymous R J Adams said...

"Coming soon! To a nation near you."

6:35 pm  
Anonymous jultra said...

Yes it's been getting clear that this financial mess is apparently as bad or worse than than everyone has been saying it is.

Last year the US announced they lost half a million a jobs, that sounds like an enormous figure.

A number of people are predicting pretty serious problems as a result of this economic strife and it's difficult to see where it's all headed.

As far as the UK goes I saw something on the BBC's site from a Newsnight, and the panel were blaming Margaret Thatcher for the economic problems.

There's an enormous amount of looking for different scapegoats at the moment.

7:41 pm  
Blogger Gert said...

When it comes to healthcare, American conservative simple folk have the bizzarrest of attitudes. A few I know can't afford insurance, have seriously high health bills, yet refuse the idea of universal health care on the grounds that it's 'the road to Socialism'. These poor people (quite literally) have been bamboozled during the Cold War that anything like that is akin to Communism.

8:44 pm  
Anonymous humpty gocart said...

Arwh, why worry about stateside? Them doyty rats have had it comin to em for a long time.

Lord help the rest of though.

8:58 pm  
Anonymous bootlean said...

“We’re no longer Reagan’s shining city on a hill; we are the ruined city by the sea,” he added.

Who added?

Former Arkansas Gov. Mike Huckabee, unsuccessful Republican candidate for president in 2008.

And it aint Obama he's blaming.

Apparently, even in Republican circles BUSH is now a four letter word.

See link here.

10:46 pm  
Anonymous Anonymous said...

http://www.telegraph.co.uk/finance/economics/4676003/UK-is-the-only-major-economy-to-face-recession-this-year%2C-OECD-warns.html

2:01 am  

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