Christmas in the red

Unemployment = 5,5%

Inflation = 18%

Purchasing power = down 7,5%

The calm before the storm of 2009 is here. Retailers suggest that unlike all Christmases in recent memory this one is not going to be paid for by credit, but by cash.

Hopefully the media will be awake for the last 10 days of 2008, as the holidays are prime time to commit political and economic atrocities, when fewer are paying attention.

But the forecast for 2009 suggests that all hell is going to break loose.


2 Responses to “Christmas in the red”

  1. 1 Roy December 24, 2008 at 2:54 pm

    I read today that the Pope has Iceland in his prayers. That, and another 10 or 12 billion dollars ought to do it!

  2. 2 drafnsson December 24, 2008 at 3:44 pm

    God bless the Pope and his billions. 🙂

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