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  #1  
Old 12-24-2008, 09:18 PM
NotThe1 NotThe1 is offline
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Posts: 252
Default 2009: Already Looking Bleak


Inquiring minds are diving into the Z.1 Flow of Funds Accounts of the United States for the Third Quarter 2008. Itís a mammoth 124 page publication. The publication came out on December 11th but some probably have not seen it yet.

The following chart comes from page 113 of the PDF..

R.100 Change in Net Worth of Households and Nonprofit Organizations in Billions of dollars; not seasonally adjusted

The chart shows a massive reduction in net worth of households over the last 4 quarters.

2007 Q4 -$1.46 Trillion
2008 Q1 -$2.42 Trillion
2008 Q2 -$0.39 Trillion
2008 Q3 -$2.81 Trillion

$7.08 Trillion in wealth has vaporized in the past year. Figure 2008 Q4 to be as bad as Q3. If so, roughly $10 Trillion in household wealth will be vaporized in little over a year. And looking ahead, there is no reason to believe the stock market, the housing market, or the economy will show signs of recovery anytime soon.

Destruction of wealth has clearly affected consumer spending as discussed in Consumer Demand For Nearly Everything Plunges.

Itís important to keep the above in mind before getting hyperinflationary ideas about Obamaís Expanding Recovery Plan now aiming to create 3 million jobs. Obama needs to create 3 to 4 million new jobs just to counterbalance another 3 to 4 million layoffs that I foresee for 2009. I doubt Obama can do that quickly, if indeed at all.

Bleak Employment Situation
2009: Already Looking Bleak | War On You

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Old 12-24-2008, 11:10 PM
BlueAngel BlueAngel is offline
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Default Re: 2009: Already Looking Bleak

Did you seriously think that 2009 wasn't going to be BLEAK?

As if the economic collapse and all the repercussions to follow would magically disappear when the ball dropped at 12:00 A.M. on
January 1, 2009.
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Old 12-25-2008, 10:31 AM
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TackleBerry TackleBerry is offline
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Join Date: Dec 2008
Posts: 7
Default Re: 2009: Already Looking Bleak

Better stock up on food and ammo.
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