Stocks plunge, unemployment grows, home equity vanishes, soldiers killed … just another beautiful day in the Empire

by on June 6, 2008 · 4 comments

in Energy, Labor, War and Peace

HOMETOWN, USA – It was another beautiful day, here in the American Empire. The Dow dropped today nearly 400 points. Here’s what else is happening around the Empire:

  • Dow Jones fell 394 points, the greatest since February 2007
  • Gas rose to $138 per barrel
  • Unemployment rate for May jumped to the official number of 5.5%, the highest since Oct of 2004
  • This was the biggest monthly unemployment increase since Feb. 1986
  • The dollar declined against other major currencies – a move that makes each barrel of oil more expensive.
  • Gold prices rose.
  • Homeowners’ portion of equity slipped to 46.2 percent in the first quarter – the lowest level since the Fed started tracking the data in 1945.
  • As of Thursday, June 5, 2008, at least 4,092 members of the U.S. military have died in the Iraq war since it began in March 2003,
  • As of Thursday, June 5, 2008, at least 443 members of the U.S. military had died in Afghanistan, Pakistan and Uzbekistan as a result of the U.S. invasion of Afghanistan in late 2001,

{ 4 comments… read them below or add one }

Susan Kennedy June 7, 2008 at 6:37 am

Even though unemployment is up, there are still thousands of $75K, $100K and $150K jobs.
(links removed by blog editor)
If one person looks for a job, they will find one, one person is not a statistic.


Dave Sparling June 7, 2008 at 10:25 am

Yet the Bush crime family continues to rule as if all was well in the kingdom. The dumbest among us graze on. Try finding one word about the Senate report of Bush misused Iraq intelligence in any major media news outlet.

Yesterday afternoon it was on CBS and I made a comment, went back 5 min. later and the news item was gone. CNN never even picked it up.


Marc S June 8, 2008 at 11:11 am

That sounds like the Union-Tribune website. I won’t bother leaving a comment on their site anymore because they delete and edit so many. The website is doing a good job of cutting in to the U-Ts market share on the web.


AnonNClairemont June 8, 2008 at 9:09 pm

marc s – I don’t even think you read the U-T from your comment.


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