scary economy
It is 14 days to Christmas. Can you feel the Christmas spirit? Personally, I don’t feel the holiday spirit here in the U.S at all. I guess, it is because of our economy – it’s really going downhill. Many businesses went out of business and cut jobs. Recently, I heard Bank of America is going to lay off 30,000 to 35,000 jobs over the next three years, Stanley Works will cut 2,000 jobs and close a few of the manufacturing facilities. KB Toys files for bankruptcy protection and is going out of business soon, and Office Depot cutting 112 stores and 2,200 jobs. Sony cuts 8,000 jobs and will close 5 or 6 plants. I wonder what’s going to happen with the U.S. economy in the coming years. In addition, P.B. Farrel from MarketWatch said U.S. would be in great depression in 2011. This sounds scary. But I hope and pray this won’t happen.
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