With the current economic situation in the United States which has somewhat spilled over into Canada, it would seem that most Canadian’s that are close to retirement are destined to work well into old age because they have not saved enough or are burdened heavily by debt.
A Canadian Imperial Bank of Commerce poll this week showed that only half of Canadian Boomers aged 45 to 64 have some type of regular savings programs in place. And a TD Waterhouse survey found 31% of retirees aged 55 to 70 are spending more in retirement than expected.
As this video shows, the previous U.S Government reports that the economy is growing and that a recovery was under way. What a crock of crap from the U.S Government.
In reality statistics has been revised downward, and earlier this year the U.S economy did not grow at all, and recently only grew 1.3%.
Watch the FOX Business News video:
http://finance.yahoo.com/video/economy-18773128/economy-still-facing-lackluster-growth-26110669;_ylt=Ag95C2guyDj_qrLea1e4X1vki7p_;_ylu=X3oDMTEzbW1qMnM5BHBvcwMxBHNlYwN2YXJfbW9kMgRzbGsDZWNvbm9teXN0aWxs
This doesn’t say much about how the U.S government manages its citizens / tax payers money, basically the operative word for U.S politicians actions is “wreckless” and “negligent”.
The U.S Treasury Department that has an enormous spending commitments (social securities, employment benefits, debt interest payments etc.) reported that its government bank account had less than $74-billion, and could hit zero dollars by August. 2. 2011.
All this crap in the media about the American debt limit is political posturing. The stupid American politicians are just putting on a show, they already know that by the August 2nd deadline they will raise the debt limit to 15 Trillion. Apparently they have pushed the U.S debt limit higher and higher over 40 times in the past.
The economy slowed down earlier this summer across the United States still high unemployment and weak home sales plus a slowdown in manufacturing.
A survey by the Federal Reserve, released Wednesday found that consumers are not spending as much and slow job growth along with lending restrictions hampering growth into the second half of the year. This is the worst statistics this year.
This is great video of the benchmark test of a comparison between the new AMD Llano APU processor and Intel’s Sandybrige processor. The AMD Llano APU laptop seems to be able to multi-task much better even with heavy hi-def 1080p video running.
Over past few weeks, Cisco, Lockheed Martin and Borders announced a combined 23,000 in job cuts and today RIM announces 11 percent layoff (2000 employees) also on the Canadian front Bombardier has cut work forces in their train transportation factories.
Second half of 2011 may not be as rosy as economist think it would be. Going into mid 2012, I think world economy is going towards another recession.
With the northern arctic ice melting scientist has projected by year 2030 all ice will disappear. This essentially will open up the arctic waters for ships from all countries to cross. This brings a whole new set of defense problems for all northern countries such as Canada, Netherlands, Russia and others.
Looking at the facts and figures today, it would seem that the U.S Government and Banks that cause the first great recession back in 2007-2008 have not really learned anything, nor are they doing the right things to prevent the next gigantic crash.
It almost seems that they want to orchestrate a depression. If anything they are making things worse by printing more money and increasing the size of the derivative bubble. Heed my warning, the next crash will be much much bigger and the affects will be all out “Depression” worse than the 1930’s.
This news video was posted roughly a year ago, and looking at today’s numbers, it looks like things have not gotten any better for students. If anything things have gotten worse, the unemployment rate is slowly climbing higher and higher. Corporations are hording trillions in cash with record profits and not hiring workers and all the while student debts are also going much higher.
Politicians only represent the people who bribes them with the most money. It it the same thing in all the so called “Democratic” European countries and the United States. People are angry because citizens tax money have been recklessly spent and their governments lost all tax payers money and gone into huge debt.
