Stocks Slide!

Wall Street is catching right up with the rest of the world’s stock markets. In other parts of the world stock markets are way down. In China there stock market is down 56% for the year. If we stay on the course we’re on we’ll be in the same boat. This is almost unbelievable what is going on. Our markets show a little sign of relief, and then out of nowhere it drops like a bad habit. The drop in the market is do to unemployment going up and poor reports from retailers. It seems that people are holding back their spending for back to school supplies. Based on these reports the Dow took a huge drop right out of the starting gates. Investors are pulling back until signs of the economy turn, which could be awhile. Things need to get better very soon or we’re all going to be in trouble.

Tags: Economy, Investing, Stocks

Unemployment Up!

Here we go again with more and more jobs being cut. The last few weeks it had been getting better for the U.S. work force. But this is no longer the case. The people laid off or terminated seeking unemployment benefits jumped last week, stated the government. The Labor Department reported new applications for unemployment was up to 444,000. This is way up compared to last weeks numbers. I read somewhere that it’s about 15,000 more people from last week. This rise was not expected, matter of fact people thought unemployment was going to go down. With this new report and the huge decline in the stock market we’re heading for a recession. I don’t care what anyone else is saying, things are not getting better.

Tags: Unemployment