The Raw Story | Coming soon to U.S., 1 million jobs lost every month: Report London-based GFC Economics is making a frightening prediction: By spring 2009, the United States could be facing more than 1 million layoffs every successive month. Expenses related to corporate debt, and muddy credit markets consumed by fear, are driving a fast-approaching "hard landing," claims a Sunday report in UK's Guardian. "Corporate bond yields have rocketed since the credit crisis began as investors flee risky assets in search of safe havens such as US Treasuries. That effectively means many firms are being forced to pay eye-watering interest rates to borrow funds," the paper reported. "November's jobs figures were so much worse than analysts had expected that the Dow Jones share index actually rallied by 259 points, more than 3 per cent, as investors bet that Washington would have to launch a major new rescue package for the economy even before President-elect Barack ...
Drop some comments about peace, justice, civil liberty, freedom, and equality.