A dead cat bounce,
It's estimated that:
· Unemployment will hit double digits (10%)
· One in three commercial loans is on verge of default
· Payments on over one million adjustable rate mortgages are about to significantly increase
· Personal bankruptcies are up 33 %
· Business bankruptcies might increase by over 60% before 2009 comes to a close
Politicians are full of shit. This (the economy)is not recovering yet. And the so called dead cat bounce is the 800 billion dollars the giv-ment pumped into the economy. It's more like a dead cat bouncing off of the rocks as it falls down the cliff.
I don't know why these politicians are so stupidly eager to jump to a conclusion that things are getting better at this time, but it is going to cost them there asses in the next election.
What jobs you going to replace all the jobs lost in our (gag) beloved auto industry. Green jobs?, with the way things are going they will head over seas faster that the plethora of jobs that have done so to date.