"The US economy has crashed and gone into freefall"

**Cheshire Cat** · 5 December 2008, 16:11

Originally posted by sasguru View Post

Uber-doomed.
http://news.bbc.co.uk/1/hi/business/7767326.stm

At least the jobless in Miami have the weather to cheer them up a bit.

Beats being on the dole in Rotherham.

**ratewhore** · 5 December 2008, 16:21

Originally posted by Cheshire Cat View Post

At least the jobless in Miami have the weather to cheer them up a bit.

Beats being on the dole in Rotherham.

I think the difference in the local women will have an effect as well.

**TimberWolf** · 5 December 2008, 17:36

It's more a case of too many people rather than not enough jobs.

**mrdonuts** · 5 December 2008, 19:33

In the past six months the US has lost 1.55 million jobs, almost as many as were lost in the whole 2001 recession

Ian Shepherdson, High Frequency Economics

errr how long was the 2001 recession (8 months) sounds like a bit of scaremongering

**Doggy Styles** · 5 December 2008, 23:58

"The US economy has crashed and gone into freefall"

It cannot have gone into freefall if it has already crashed.

**d000hg** · 6 December 2008, 17:10

The DOW closed up 3% and the NASDAQ up over 4% on Friday, in spite of all this. What gives?

**PM-Junkie** · 6 December 2008, 17:21

Originally posted by d000hg View Post

The DOW closed up 3% and the NASDAQ up over 4% on Friday, in spite of all this. What gives?

Insurers made big late gains (metlife and prudential up 22% and 35% respectively) on the back of expectations that financial regulations will be relaxed next week. That plus the S&P retail index was up 6% on the week, which is supposed to indicate that traders reckon that the November sales figures in the US were "not as bad as they could have been".

When the markets stop falling off a cliff everytime there is bad news, take that as a sign that we've reached the bottom. Absolutely no sign of that yet though....

"The US economy has crashed and gone into freefall"