themeltingpot

As we all knew the current situation is getting worse every single day. We don’t have much confidence in the market, and majority of us lost hope on previously promising of the bailout plan enacted by the government under Bush’s administration. We had many disappointment in the year to come, possibility. We may only notice our domestic market; but this impact is spreading out worldwide. Not only in the United States, but to Asia, and to the European countries, etc….. In the current proposal by the President - Elect Barrack Obama, he suggested the government should committed the rest of 30 some billions from the original $70 billion to the banks, and markets. Hopefully, it has some ripple effect at least. But we don’t see much of the promising signs.

In the local news, there were many plants were closing down, and many people were suddenly without a job. According to statistics, some thousands of people just had to rush to the labor department asking for unemployment aide. Home Depot just recently closing down 20 some of its warehouses. Due to the fact that the construction market is totally down. Not many people really need the building materials. A friend of mine, his wife’s work place was likely to eliminate some people. Because they had no orders from the customers from the previous months. Now, they are really slowing down. It was a worried sign for everyone.

Hopefully, after the inauguration of Barrack Obama, the economy will be better in the future and the years to come.

Trackback URI | Comments RSS