Some facts about our Current economy I found here and there.

• As of Dec 2008 number of Unemployed people: 11,108,000
• Worst economy in 75 years
• US auto markets are on the edge of Bankruptcy
• Consumers are spending less and less and 70% of US GDP depends on it.
• Housing market is on its worst level in years.
• Foreclosures rate are sky rocketing even more.
• Let’s not forget the CHAPTER 11 filled by Lehman Brothers and many other companies and more to come.
• And list can go on and on. Please some any important economy facts here.

I found an interesting article about Barack Obama’s plan for our economy which you might want to look at. After all we must remember he is getting into a worst timing of economical timing. People expect him to fix all the problems as soon as he takes the seat, but remember it took years to get into this mess and it will take time to fix things as well. We should support him and work with him to start the process of fixing these issues and keep in mind it will take years to recover, not days.

Here is the Article

“How to Get Your Finances Ready for the Obama Era”

“When it comes to the economy, Barack Obama has been managing expectations the way Joe Torre managed the 1990s Yankees: with grim-faced seriousness and an aversion to rah-rah cheerleading. Just as Torre never promised great results from his teams of all-stars, Obama never misses a chance to remind the voting public that there are “no shortcuts or quick fixes to this crisis.” But the ongoing recession and market turmoil have driven expectations through the roof all the same. It’s a rare event indeed when a cabinet pick can drive the Dow up 500 points, or when a president-elect can draw a nationwide audience with radio addresses about the economy. (Franklin Roosevelt didn’t launch his “fireside chats” until after he got sworn in.) Starting Jan. 20, Obama’s own economic dream team officially takes the field—carrying all those expectations with them……………..”

**Read Full Article**

Younas Saleem Economy