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')

A Little Bit About Lehman Brothers' 'Horrible' Richard Fuld ...

What we see above is what we've got.

He's a poxy, predatory opportunist prick called Richard Fuld.

He's been robbing the poor to give to the rich.

And so far, it seems this ghoul's going to get away with it.

So what we want to know is why?

How the hell can this sort of shameful stuff be allowed to happen?

Lehman Bros head took home $300m

The head of failed US investment bank Lehman Brothers has told Congress that he took home about $300m in pay and bonuses over the past eight years.

Richard Fuld, whose firm went bankrupt last month, made the statement during testimony before the House Oversight and Government Reform Committee.

(snip)

Mr [Henry] Waxman also criticised Mr Fuld for requesting multi-million dollar bonuses for departing executives just days before last month's collapse.

"In other words," he added, "even as Mr Fuld was pleading with [Treasury] Secretary [Henry] Paulson for a federal rescue, Lehman continued to squander millions on executive compensation."

Still, not to worry too much though. We suppose things could be worse.

After all, this fat-cat, Fuld f*cker, did have the decency to declare ....

"I feel horrible about what happened,"

Read the rest of this outrageous report right here.

Then hope as hard as we're hoping that before long we'll be able to switch the shot of the shyster shown above, to the shot shown below.



But, beware of holding your breath.

No matter who replaces G.W. Bush as president of the US.



*(Cross posted across at 'appletree')

The Current Cash and/or Credit Crisis ~ For Dummies ...

Next, we strongly suggest taking a look at a brother old Brit blogger's personal take on this topic.

And hear you'll learn where increasing numbers of countries are increasingly laying the bulk of the blame for this unforgivable financial fowl up.

*(Cross posted across at 'appletree')