Record Setting Layoffs

In what can be considered one of the worst days to hit the point home about the recessions, 71,400 jobs were lost today as a result of the economic and financial crisis affecting the United States in many years. In what is being dubbed 'Bloody Monday' jobs are being cut mainly because in recent years sales have focused mainly on the consumer, and frankly the consumer is just about out of money because of the housing market collapse, and the effects of essentially two wars (abroad and domestic). Although some say this is too be expected, others are surprised at how hard people are being hit, especially since many view this as something that is not technically their fault to begin with. Many are not hopeful as close to 200,000 job cuts are to be expected.

http://money.cnn.com/2009/01/26/news/economy/job_cuts/index.htm

Financial Future

As everyone looks forward to tomorrow's inaguration of President-Elcect Obama, the most pressing concern is the economy. The present seems to belong to banks falling apart or failing (Citigroup and BofA) and scandals (Madoff and Mike Corona), investment managers are looking to the future and how to get earnings back up and stimulate the economy according to Obama's plan which he wants to have ready within the next week or so.

For more information, read this article on CNBC.com.