It is pouring bad news across US with unemployment rate touching their highest level in decades, while the housing repossession hitting a new high of 12% last month. Also reports are coming out that Citi group is heading for a big trouble with more write offs likely in the coming quarters.
Also there are no signs of consumer spending increasing , with consumer confidence hitting the lowest level in recent times. All these have reflected in the US stock markets reaching their multi year lows this week, with the net loss for this week alone standing at over 8%. God should save US and the rest of the world in 2009.
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