US Unemployment is at 26 Year High!

Dear Friends,

Check out this video from MSNBC with CNBC's Margot Brennan reporting that US Unemployment is at 26 year high, and yet, the retrenchment is just starting.

We are definitely nowhere near the trough of the economic recession. In fact, the worst is yet to come as consumers brace for a major withdrawals of consumer credit by banks. This will in turn affect consumer spending, which will affect corporate profits, which will affect Unemployment further, in a vicious circle of downward spiral.

Best wishes,

Ooi