b, 21The projections are for 9% unemployment. We haven't seen anything like it since the early 80s. Truly though the bigger issue is that the markets are basically without a bottom yet. That has a snowball effect because everyone stops spending which in turn makes more businesses fail. The CITI Bank situation was the freakiest thing to me so far. They were thought to be potential buyer of Lehman just a few months back and now they are on the verge. Scary. I am keeping my powder dry, looking for real estate fire sales and praying that we get some confidence restored in the lending community. That said, I believe it will get very ugly here in the next year. You are going to see things we haven't seen in a long time.
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b, 21My prediction: 13-15% unemployment, minimum. It will flare up to 10% after the holiday axings and get worse as general National credit insolidity turns into a crisis.
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b, 21Citigroup seems like it will go bankrupt without another bailout, and the auto industry will have to lay off folks into six figures. Krugman is predicting a total US auto manufacturing collapse, meaning no Big Three ever again. I don't see it getting that bad, but Chrysler is as good as gone and we'll see Chevrolet pare down to Chevy, Cadillac, and maybe a Pontiac/Saturn mashup brand. Ford will lose Mercury and Lincoln. If the Chevy Volt doesn't make it, Chevy will go under, too. We might see US auto manufacturers only making trucks like the Silverado and F150 and a few compact, crossover, and mid-level sedans.
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b, 21It might get so bad that the only way our economy can stay afloat will be some sort of massive consumer debt pardon. It's not as much that debt slaves can't pay their bill; they will instead default or go bankrupt [i]en masse
/i1.
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b, 21The market is dead. Long live the market.
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font class="post"1b, 21b, 21I think you're getting a little ahead of yourself here. There is a lot of money that isn't being put into play right now. 13% would require a total market meltdown which is possible but we're gonna need to see more than we've already seen. 10% in a 2 month span is unprecedented even in the great depression. It will rise steadily over the next year. Trust 9% will be very rough as it is.
b, 21The projections are for 9% unemployment. We haven't seen anything like it since the early 80s. Truly though the bigger issue is that the markets are basically without a bottom yet. That has a snowball effect because everyone stops spending which in turn makes more businesses fail. The CITI Bank situation was the freakiest thing to me so far. They were thought to be potential buyer of Lehman just a few months back and now they are on the verge. Scary. I am keeping my powder dry, looking for real estate fire sales and praying that we get some confidence restored in the lending community. That said, I believe it will get very ugly here in the next year. You are going to see things we haven't seen in a long time.
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b, 21
h, 21
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b, 21
b, 21My prediction: 13-15% unemployment, minimum. It will flare up to 10% after the holiday axings and get worse as general National credit insolidity turns into a crisis.
b, 21
b, 21Citigroup seems like it will go bankrupt without another bailout, and the auto industry will have to lay off folks into six figures. Krugman is predicting a total US auto manufacturing collapse, meaning no Big Three ever again. I don't see it getting that bad, but Chrysler is as good as gone and we'll see Chevrolet pare down to Chevy, Cadillac, and maybe a Pontiac/Saturn mashup brand. Ford will lose Mercury and Lincoln. If the Chevy Volt doesn't make it, Chevy will go under, too. We might see US auto manufacturers only making trucks like the Silverado and F150 and a few compact, crossover, and mid-level sedans.
b, 21
b, 21It might get so bad that the only way our economy can stay afloat will be some sort of massive consumer debt pardon. It's not as much that debt slaves can't pay their bill; they will instead default or go bankrupt [i]en masse
/i1.
b, 21
b, 21The market is dead. Long live the market.
b, 21
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font class="post"1b, 21b, 21ugghh. I'm an econ major to be graduating next year. It's going to suck trying to find a job in a market like this. It'll be worse having to move back to my parents' home in Small Town, California due to my unemployment status. img src="/ubbthreads/images/graemlins/nagl2.gif" alt="" 21
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