MARKET NEWS: Dow Plunges 400+ on Global Recession Fears

[Appaholic]

The sell-off is ugly and broad, with gold, crude oil, silver and other commodities falling. European stocks fall 5%. United Technologies will buy Goodrich. Hewlett-Packard is seen naming Meg Whitman CEO.
World stocks tumble 4% on economic worries

http://money.msn.com/

[ASUG8]

I'm guessing the Fed's latest move along with the UK's uncoming QE program are not being received very well. I'm not sure what sort of gimmicks the Fed has left - seems all the cards have been played.

[Grizalltheway]

Man, I picked a great time to graduate college.

[Bronco]

Man, I picked a great time to graduate college.

It does suck to be a young person looking for a career...and now they say maybe for the next decade.
Lots of parents won't be real thrilled with the long term basement dwellers.

Census: Recession takes big toll on young adults
AP ^



Young adults are the recession's lost generation.

In record numbers, they're struggling to find work, shunning long-distance moves to live with mom and dad, delaying marriage and raising kids out of wedlock, if they're becoming parents at all. The unemployment rate for them is the highest since World War II, and they risk living in poverty more than others - nearly 1 in 5.

New 2010 census data released Thursday show the wrenching impact of a recession that officially ended in mid-2009. There are missed opportunities and dim prospects for a generation of mostly 20-somethings and 30-somethings coming of age in a prolonged period of joblessness.

"We have a monster jobs problem, and young people are the biggest losers," said Andrew Sum, an economist and director of the Center for Labor Market Studies at Northeastern University. He noted that for recent college graduates getting by on waitressing, bartending and odd jobs, they will have to compete with new graduates for entry-level career positions when the job market does improve.

"Their really high levels of underemployment and unemployment will haunt young people for at least another decade," Sum said.

Richard Freeman, an economist at Harvard University, said young people "will be scarred and they will be called the `lost generation' - in that their careers would not be the same way if we had avoided this economic disaster."


(Excerpt) Read more at hosted.ap.org ...

[Ibanez]

Man, I picked a great time to graduate college.

Yeah, I graduated 6 years ago...it sucked ass then.

[Grizalltheway]

Man, I picked a great time to graduate college.

Yeah, I graduated 6 years ago...it sucked ass then.

Consider yourself lucky, those were the roarin' '00s.

[TheDancinMonarch]

Less wealth for O'Bama and Co. to tax.

[Ibanez]

Yeah, I graduated 6 years ago...it sucked ass then.

Consider yourself lucky, those were the roarin' '00s.

Not when I was in the real estate biz...

[Cap'n Cat]

We are utterly fvcked and it was Conks who led us here, beginning in 1981.

[Ibanez]

We are utterly fvcked and it was Conks who led us here, beginning in 1981.

And the Democrats. Don't forget the party of No Ideas. They had an equal hand in this.


SMFH. I expected more out of you Bill.

[Cap'n Cat]

We are utterly fvcked and it was Conks who led us here, beginning in 1981.

And the Democrats. Don't forget the party of No Ideas. They had an equal hand in this.


SMFH. I expected more out of you Bill.

Said the Conks led us here, Mort. They did.

[Ibanez]

And the Democrats. Don't forget the party of No Ideas. They had an equal hand in this.


SMFH. I expected more out of you Bill.

Said the Conks led us here, Mort. They did.

And the Democrats followed, blindly.

[native]

We are utterly fvcked and it was Conks who led us here, beginning in 1981.

I do not disagree tat the conks had a hand in leading us to our current economic debacle, but the donks had an equal or greater hand in the leadership role; e.g., expanding social security and Medicare beyond original mandates and/or sustainable framework, Community Re-investment Act, et al. Each party has competed vigorously to buy votes with public largesse and has regulalry followed along whenthe other was in power.

Reagan was not and is not the problem, Bill.