Topic: $700 million bail-out

The “D” word: DEPRESSION. Is it coming?

October 6, 2008 |

The Dow took a nose dive, sinking below the psychological panic line of 10,000 today, closing at under 9500, with no signs of imminent recovery. Oil dropped below $90 a barrel for the first time in eight months. The near-broke states of California and Massachusetts are seeking the same kind of “bail-out” relief that banks across the nation were awarded last week. News photos across the board capture looks of abject horror, unfettered dismay and complete shock, depending on which picture you view. All this despite a $700 billion dollar bail-out passed by U.S. Senators and Representatives Capitol Hill last Friday.

Does the word “recession” come to mind?

Timing is everything, and this economic downturn arrives on the heels of a long hot storm-laden disaster-ridden summer in the South and East, with the fall and incipient winter heating season across the northern half of the country. «Read the rest of this article»

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