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Ronymon

September 17, 2008, 10:17pm

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Bank of America Corp's $50 billion acquisition of Merrill Lynch & Co would mark the end of a storied name in American finance, but create the nation's biggest bank by far. And now U.S. Government to Take Over AIG in $85 Billion Bailout; Central Banks Inject Cash as Credit Dries Up . and now JP Morgan !!!!!!!!
America’s middle-class families are struggling.  I met an American friend yester day. He had a mortgage for $ 3 50 000 in 1999 and the current value of his house is 1 75 000. And now he is paying his mortgage loan for nothing !!
With the current economic downturn, economists, policymakers, and pundits alike now recognize what many middle-class families have long been feeling: that their financial security is in decline. Although economists  officially announced the beginning of a recession this year, the sharp downturn in economic growth certainly has made things worse for families who have been struggling for years with massive amounts of debt, declining incomes, and rising prices.
Corporate scandals over the past five years have fittingly brought the integrity of U.S. capital markets under scrutiny, provoking a significant legislative and regulatory response.

For the past two years, the Center for American Progress has calculated a number of middle-class financial security indicators to measure how many families have the financial resources for a spell of unemployment, for a medical emergency, for both, or for an unspecified economic emergency equal to three months of their income. Figures demonstrate the financial and economic roller coaster ride that America’s middle class has been on.
The trends since 1989,  showed an increase in middle-class security through the 1990s. After 2000, however, the situation deteriorated very quickly all of the gains in middle class economic security were erased within a few years.
there can be no doubt that with worsening economic conditions middle class economic security is taking an ever harder hit.
What you think about it ? U a victim of current situation ?
Article taken from Kerala-malayalam.com

http://www.kerala-malayalam.com/cgi-bin/4rum/Blah.pl?

http://www.youtube.com/watch?v=mMW7Acj13LE

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iCONICA

September 18, 2008, 5:20pm

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I've not been following the happenings in the states. The happenings over here are too much already. So i've got no input on that sorry... But i must say... I absolutely love your smoking / cancer gif! Thanks for that!