Europe in recession, US in pain as world leaders meet ( Archived) (24)

Reuters
Posted: Nov 15, 2008

New York

Europe officially fell into recession on Friday and the US economy suffered thousands more layoffs and the biggest retail sales dip on record as world leaders met in Washington to address the worst financial crisis in 80 years.
Leaders of the Group of 20 advanced and emerging economies said they were working on plans to counter the growing economic threat and prevent future crises, but big breakthroughs were not expected at their meeting in the US capital, given the absence of US President-elect Barack Obama, whose involvement will be key to any global initiatives.

The financial crisis continues to wreak havoc on the world's major economies, with official data showing the 15-nation euro zone economy had shrunk by 0.2 percent for the second quarter in a row, meaning it is technically in recession.

The United States is probably already in recession, most economists agree, but official data showing that will not come out until January.

"Frankly, we at Dow are looking at an '09 that looks like a pretty protracted global recession, probably going into 2010," said Andrew Liveris, the chief executive of Dow Chemical Co, the largest US chemical maker.

The economy is like a ladder.. once you get to the top.. you can't go any further, eventually you must come down.

We have been living a fake inflated economy.. now it is balancing time.
just normal rythem.

I will agree that the economy was inflated by investors. Now that they have sold their stocks, prices have fallen. This is good for consumers who have been paying too much for too long.

Ras, we must not be in denial.
I have been warning of what is to come, yet people want to act like Bush and say there is no need to fear, all is well...

I find it very interesting that this past Saturday, all of the world leaders came to the U.S. for an emergency meeting, yet I have heard nothing about it in the NEWS. I had to search for info which produced very little results. This disturbs me greatly, in a country which supposedly has Freedom of the Press, which has been telling its people that All is Well.

All is NOT well, America!!! Wake up and pay attention!

And Ras, the experts around the world say it is NOT normal rythem. They say we are headed for times worse than the Great Depression.

the signs where evident a few years ago. from the Enron thing to the drastic drop in my Ford stocks.

Those that denied the storm was coming then.. my sympathy but,
I do not want to be punished or penalized because the masses
had their head up their asses.

I'm not clicking my heels in celebration,
I exercised a little common sense back then, I should not be sheered like the rest of the flock of sheep.

the Sheep herder s have been all but consumed by the wolves, and I survived the attack by not standing around the all but dead remains.

worry not about when the next sheep herder will arrive... enjoy the brief moment to free range feed.

Good Morning fireliter!!

Love your comment, as always!

Would like to share a smile to brighten up your day and tell you that
I LOVE YOU !

Have a Great Day!!!

sounds like we are heading for what the bible calls the END TIME.

Apparently, for those with liquid assets, NOW is a great time to invest as there are 'bargains galore' with many institutions/companies selling off good investments (and therefore lowering the prices) because they need the money NOW!

I just wish I had a few hundred thousand dollars or pounds or euros 'spare' to invest right now!

From recession to boom to recession to boom to recession to...........
History has being repeating itself for how long and we still havent learnt yet. Look for the trend people and then look at what we are being told over and over again. This has gone on for generations but we still lap it up. To many sheep for anything to ever change.