Economy Shrinks in 3Q, Signaling Recession

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Uploaded by on Oct 30, 2008

The economy jolted into reverse during the third quarter as consumers cut back on their spending by the biggest amount in 28 years. Meanwhile, new claims for unemployment benefits remained at elevated levels. (Oct. 30)

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  • It was announced on last nights news (2-2-09), 60% of banks have TIGHTENED lending practices since the bogus "bailoiut", the same EXACT blueprint used in the 30s economic collapse. For the government & their "experts" as well as mass media to be scratching their heads in bewilderment over this confusing & curious "development" would be funny if not so deadly serious.

    300 MILLION Americans are BROKE. Odd how the wealthy can't seem to wrap their heads around this. No money = no spending.

  • People are being laid off and no one is being hired.

    what do you expect?

    American jobs are shipped overseas, everything we use is created elsewhere and then IMPORTED back to our country.

    What do you expect?

    You think people who are out of work, who have been out of work with no prospect of work are going to keep shopping?

    This is ridiculous.

  • Thanks.

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