Are we nearing a Bottom???
[PPG] PPG Industries to eliminate 2,500 jobs
PPG to slash 6% of workforce, cut contributions
Household net worth plunges 18% in 2008
U.S. continuing jobless claims up 193,000 to record 5.32M
U.S. Feb. individual income tax receipts at 24-year low
Maybe....but not until jobs stop being slashed, wages stop being cut, household net worth stablalizes, tax receipts stop evaporating, debt gets under control.
Remember if your net worth drops, and income decreases....your debt as a percentage of net worth explodes and your interest coveage ratio implodes....a very lethal combination for anyone concerned. This is a problem affecting many individuals, businesses, and municipalities across America with increasing severity everyday.....
Until we restructure debt.....this mess only gets worse as more and more lose their jobs, wages get cut, business shuts down, and cities and states eliminate services and reduces staff.
And for those of you that don't believe in Fairies..........