The credit crisis has been crunching companies and running up the unemployment figures in countries around the world. Just take a look at this list of huge layoffs to see for yourself.
For whatever reason, human beings tend to assume that things are only good if they stay the same. The default reaction to change is one of fear. This is especially true about the economy. As economic needs shift, and certain sectors fail, the default assumption is that bad things are happening. [...]
This page has a nice intro to the economic crisis from 2008-2009. I especially like the comic. Link: U.S. Economic Crisis of 2008-2009. Overview of the Crisis.
Things aren’t getting any better for the economy any time soon, unless you happen to be in the business of selling wind turbines and solar panels. Brace yourselves this week: analysts are predicting the worst jobless figures in almost 60 years.
What exactly did AIG ‘invest’ in? Monkeys? Bananas? Actually, probably not since they’d probably have actually been safer than what they did invest in. So after already getting two bailout cash injections, they need another. Where is this going to stop?
This is amazing. Shocking. Terrifying even. The US government’s updated list of ‘problem banks’ has risen to its highest since 1994, with some 252 financial institutions in difficulty. Unfortunately it looks like this credit crunch shows no sign of abating.
Just because the rest of the banking industry is in complete and utter meltdown doesn’t preclude you from turning a tidy profit as is the case at San Francisco based Visa, who’s first fiscal quarter profits are up 35% year on year. It’s not all good though: Visa are predicting a slowdown in revenue through [...]
I just read a really interesting post about government bank bailouts on Reddit, the basic premise of said article being that the UK cannot afford to keep on bailing out the banks because a continuation would result in the UK as a country to go bankrupt. Well written and insightful, I couldn’t recommend it any [...]
Our global economy is hardly performing at its peak. Some reports suggest 50 million more people will become unemployed in 2009. 50 million! That’s as many people as there are living in South Korea or Spain. So this site should be kept busy tracking layoffs.
Tough times make tough people stronger. While many people lose their jobs and the unemployment rate skyrockets, there are still opportunities. Here’s an article called 15 Ways to Set Yourself Apart in a Recession that discusses the ways you can continue to improve yourself and make yourself more marketable to prospective employees during a recession.
Moral [...]
This story made me sad: Recession Forcing Owners To Abandon Pets
Shoestring Budget asks an interesting question. How can you enjoy Christmas in a recession? They offer some useful insights.
Funny comic explaining the absurdity known as Trickle Down Economics. In my view trickle down theory totally ignores the simple fact that people at the top siphon their wealth away in offshore accounts, etc.
In the current economic situation, here are 15 Real Ways To Conserve
With all the talk these days about taxes, have you taken the time to look a little deeper than the sound bytes? Here’s some info on how corporate tax policy can affect the economy.
One of my good friends put up a really cool article on how to make your own energy drinks. As the American economy comes back down to earth, we’re going to have to move away from corporate and governmental dependence towards self-reliance. Simple things like this, added up, go a long way.
I’ve been thinking a lot lately about how the downturn in the economy will affect us in tangible ways and my mind keeps coming back to one point: we will have to get used to living with our means. What does this mean? It means we’ll have to habituate ourselves to paying as we go. [...]
Here’s a list of the 10 most popular college majors. That’s interesting. What I think is even more interesting is what the top 10 *should be* based on the current needs of our economy. My sense is that many of these majors (English literature, biology and psychology) are romantic majors [...]
Some of my favorites on this list of the The 21 Most Depression-Proof Jobs included mortician (I guess all the Wall Street nut jobs who are being exposed) and the sex worker (for the Wall Street nut jobs right before they go to the mortician).
Given the current economic situation, BusinessPundit has an interesting article on the 10 Countries Least Affected By US Economic Woes