Prof. Paul Krugman,the Nobel Laureate of Economic Science 2008 cited Goldman Sacks predicting the unemployment rate, currently at 6.5% will reach 8.5% by the end of 2009. Such scenario would have impact on the US economy next year. Moreover,minorities and unreported jobless folks would mean a higher rate of unemployment from recession to depression that we do not want to envision.
UK Psychologist: Paranoia(as the exaggerated or unfounded fear that others are trying to hurt you) on rise: 1 in 4 Londoners fear others are out to get them. Researcher finds. Published by EXPRESS,Nov.13,2008 on page 13.
Best Buy warns of seismic change: "The epic shopping spree is over." as the Headline. That means the consumption sector i.e. 2/3 of GDP as a measure to gauge economic activities, will be lowered in the days to come. From Recession to Depression. We hope NOT! We'll find out as time goes by.
Francis Shieh a.k.a. Xie Shihao,a student with positive scenario to watch Sino-American Economics after World Conference today,Nov. 15, 2008 at 4.16 p.m.
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