The World Slowly Shutting Down......
NEW YORK (MarketWatch) -- In a "Dear Passengers" note posted on its Web site, Lithuania's flyLAL Lithuanian Airlines apologized for the inconvenience as it ceased operations on Saturday, while recommending its customers turn to other airlines to travel.The airline also said more than 29,400 passengers would have to change their travel plans because of its move.
Circuit City became the largest retailer to fall victim to the expanding financial crisis Friday, announcing it will shut down its remaining 567 U.S. stores at the cost of 34,000 more jobs after failing to sell the business.
Report: German economy could shrink by 2.5 percent
FDIC shuts down banks in Ill., Wash.
Gannett to close Tucson Citizen if it can't sell assets
Johnson Controls sees more losses, challenges ahead
And just think....some TMF bloggers are saying we are going to have INflation?????
I am not sure where the inflation argument comes from...but if we had inflation because anyone and their mother used to borrow and spend it in the stream of commerece....it seems logical that deflation will result when few can borrow and there is less and less money in the stream of commerce.
I am not sure how many examples of businesses shutting down, prices falling, and jobs being eliminated I am going to have to give before I can teach the TMF bloggers that price deflation is the current course...so far I given hundreds and hundreds...but obviously that is not enough....yet.
If money starts flowing to the people and business, then Alstrynomics will sing a different tune....but right now it is deflation nation.