Still Only The Very Beginning Of Woe

More than half of all workers have experienced a spell of unemployment, taken a cut in pay or hours or been forced to go part-time. The typical unemployed worker has been jobless for nearly six months. Collapsing share and house prices have destroyed a fifth of the wealth of the average household. Nearly six in ten Americans have cancelled or cut back on holidays. About a fifth say their mortgages are underwater. One in four of those between 18 and 29 have moved back in with their parents.

Back in my 2008 blog, I covered the coming Doom pretty heavily (near 500 posts on that subject alone!).

If I had posted that quote as a prophecy for 2010, I would have been laughed at.

Yet here we are now.

That quote is from a PDF [PDF link] called Something Has To Give.

And this is still only the very, very beginning.

Things are going to become breathtakingly bad up ahead.


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