When hurricane Katrina hit New Orleans in 2005, thousands upon thousands of people lost their homes to the flood that followed. Many, I am sure got the proverbial at least you have your life, or we can, we will rebuild. But as you pass through the parishes today, you still see the evidence of that faithful day. And that fact that many of the people of this exceptional city never returned to the complete destruction that is the city post Katrina.
The economy sucks. We all know this. Yet we all tell each other that it will get better. We say this in part because America has gone through a few recessions and even a depression and every time we did, we came out better then when we went in. We also believe this because our government keeps telling us things are looking up. The tides seem to be turning.
But I am start to get the feeling every much that either a) they’re lying to us, or b) they’re just that stupid. I started out believing that they are lying to us, then as the crisis continued, I truly began to believe that maybe, just maybe they are that stupid, and I felt that if they are stupid there is a chance that thing will get better.
But now, who knows. Between the price of oil, food and everything other then Victoria Secret going up. The fact that 9.4% of our neighbors are out of work, and yet another Country to possibly go to war with it seems that we need to fundamental change directions and figure out that its going to mean to be an American in this new millennium.
Breakdown:
· Rate of job losses in the United States slowed significantly in May
· 345,000 jobs lost in May 2009
· Smallest number of monthly job losses since September 2008
· Six million jobs have now disappeared since the recession began in December 2007
· 14.5 million people are now unemployed
· Manufacturers cut 156,000 jobs, \
· Construction cut 59,000 jobs – improvement over last months 108,000 jobs
“But in a sign of the recession’s worsening toll, the unemployment rate climbed to 9.4 percent, its highest point in 26 years. The rate — a measure of jobless people looking for work — rose more than expected, partly because more people were resuming the hunt for a job.”
“Job losses likely to pile up through the rest of the year as the country’s labor market bottomed out.”
Read Article: Joblessness Hits 9.4%, but Losses Slow














There is an All State Insurance commercial currently running on televisions in the United State that talks about how the company was created in the middle of the great depression, and how they have been around for the 7 or so recession since. The actor in the commercial says that when the fear subsides, and the economy starts up again a funny thing happens. Hope.
In banking size does matter, and when a big bank fails it has the potential of taking down the whole economy as many experts say the failure of Lehman Brothers did in 2008. But much of the American banking system is built on smaller, community banking institutions rather then the mammoths of Wall Street like Citibank and Bank of American. What happens if these 7,900 smaller banks fail? What happens to the communities they serve, and the families they employee.
What do you do when you when don’t make enough money to cover your monthly expenses. You use your credit card. You also us it for that nice 46 inch TV, but we’re not judging. Well as most people are aware, American has had a 20+ year love affair with there credit cards.
The end of Chrysler nears, at least before it is reorganized in bankruptcy court, at which point it may reemerge as concern owned mostly by its unionized worker force and the Italian car maker Fiat, better known to some Americans as Fix It Again Tony.

Recently Wall Street has been blushing with optimism, based largely on good returns from the American Banking sector. However many question have come up with regards to how those numbers where reached, and how the banks accounted for the large loans received via the Government bailout program, TARP. The program allowed the banks great freedom to do as they please with the money. 


