World News

I have mentioned this before….the current supply of energy through to the west via the Ukraine is a mini economic war…and as with all wars there are no winners…I would draw your attention to the following article from the guardian newspaper…http://www.guardian.co.uk/world/2009/jan/12/russia-ukraine-gas-gazprom

Economics…

The flow on effect of the Wall Street meltdown is still in effect, we are still at the low point of activity across the US Economy…which of course has flow on effects across the entire world…we are currently in the trough…a sort of hiatus for the world economic activity…the only problem with this is the longer we stay in the trough the deeper the harm to the economies, and the more this damage will be view as semi-permanent and the forefront of perhaps a depression rather than a recession.

The flow ons from this will be more unemployment, the US rate is expected to rise to 7.6% by April 2009, seasonally adjusted – see below…from the Financial forecast center..http://www.forecasts.org/unemploy.htm

Unemployforecast

With President – elect Obama working on how to bring the US Economy, further losses of million of jobs and the the rest of the world back from the edge of a true depression…I can only wish him well, and that the people who he puts in positions of responsibility actually have the ability and his continued support to get things done…surely the experience for the general population in the rest of the world is going to get worse before it gets better.

The solution will have to include all aspects of the economic community…including the government, management,work force an the unions…although the recent speech from the ACTU, the Australian peak body demanding wage increase of up to 33%…see the following link to the Australian article…http://www.theaustralian.news.com.au/story/0,25197,24889935-5013871,00.html  truly wonder about the ACTU…..

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