Saturday, March 7, 2009

Doom and Gloom from the Business Page

AltTulsa kinda likes USA Today. No, it's not the most serious newspaper and its coverage is reliably superficial, but the paper often provides a snapshot of current social and cultural trends.

But even we were taken aback
by some economic headlines in the paper's "Money" section several days ago. Here's what we found:
Banks lost $26.2B in 4th quarter

GM reports 2nd-worst annual loss

Fannie Mae lost $25B in 4th quarter

Jobless claims up more than expected
What's striking about these headlines is that all four appeared on a single page of the paper above the fold!

That's a small detail, of course, but it's also a sign of the times. Four business stories, all of which point to more downturn before the economic bottom.

Hold on to your 401K plans, Sooner fans, it's still a mighty bumpy ride.


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