Skip to main content

America's Frozen Economy: Consumer confidence poorest since 1946!!!

This is a really scary story but I need to also hear from people who are doing something worthwhile to make it better.

Be it Obama or McCain, this one is the toughest to crack an probably the one that may make any U.S president hero, if he got the balls to take the U.S economy and future towards the intended and desired future.

Anyways here's the BusinessWeek's article:

The economic crisis has been triggered by what economists call "structural shifts" in the global supply and demand for commodities, coupled with the meltdown in the mortgage markets and the ensuing credit squeeze. But this crisis is now moving into a whole new gear, creating a new set of economic conditions that have yet to be named. Call it "the frozen economy."

As pain reaches deep into the daily lives of ordinary Americans—irrespective of their creditworthiness—it will trigger unforeseen consequences for every corner of the marketplace. Nearly two-thirds of Americans already say they are cutting back on nonessentials, according to a new survey by Information Resources. But what's nonessential? Heat? Asthma medication? Shoes for your kids? A new yoga mat? At the same time, 57% of Americans interviewed last month by the Survey of Consumer Confidence reported that their financial situation had worsened—the poorest response since 1946, when the survey began. More than two-thirds of gross domestic product depends on consumer spending. But when the grass roots are frozen, nothing can grow.

The statistics tell a dramatic story, but people tell it better. So I went to Moody's Diner to listen.

So do you know what this means? This means that the natural progression of prosperity cycle may have to be disrupted (not by invoking a war which seems to be the easiest choice to many nations but by pushing innovation across all segments to combat the forces that are pressing hard against the global economy) in order to regain the position or else we are looking at some dismal decades up ahead. I guess it is also time to start writing about my "Novo Global Economy : The Regulated Jar'ing". Here's a copy of the sketch I drew while on my vacation in France. The detailed article will follow soon.

Global Economy: The Unregulated Unjar'ing

Novo Global Economy : The Regulated Jar'ing

Nevertheless, this discussion is drawing a lot of attention. The citizens are talking now, the word is on the street and is hitting the regular Joe. We have to do something about it.



Popular posts from this blog

Get Vyatta Virtual Appliance, now VMware certified!

We all know Vyatta, don't we?

Vyatta, the leader in Linux-based networking, today announced that its open-source networking software has received VMware Virtual Appliance Certification, thereby providing customers with a solution that has been optimized for a production-ready VMware environment. The company also announced it has joined the VMware Technology Alliance Partner (TAP) Program. As a member of TAP, Vyatta will offer its solutions via the TAP program website. With the Vyatta virtual appliance for VMware environments, organizations can now include Vyatta’s router, firewall and VPN functions as part of their virtualized infrastructure.

Vyatta combines enterprise-class routing and security capabilities into an integrated, reliable and commercially supported software solution, delivering twice the performance of proprietary network solutions at half the price. Running Vyatta software as virtual appliances gives customers many more options for scaling their data centers and cons…

3PAR adds native LDAP support to simplify administration

3PAR®, the leading global provider of utility storage, announced today native support for lightweight directory access protocol (LDAP). Support for LDAP enables centralized user authentication and authorization using a standard protocol for managing access to IT resources. With 3PAR’s support for LDAP, customers are able to now integrate 3PAR Utility Storage--a simple, cost-efficient, and massively scalable storage platform—with standard, open enterprise directory services. The result is simplified security administration with centralized access control and identity management.

“3PAR Utility Storage already provides us with a reliable, shared, and easy-to-use consolidated storage platform,” said Burzin Engineer, Vice President of Infrastructure Services at Shopzilla. "Now, with 3PAR support for LDAP, managing security commonly--across all our resources, including storage--is also simple and efficient.”

Press Release

DeepLearningTrucker Part 1