"Obama says many months before U.S. exits recession," Reuters, August 1, 2009

"President Barack Obama warned on Saturday it would take "many more months" for the United States to get out of recession even after GDP figures showed the economy shrank only modestly in the second quarter."

(CONTINUED HERE)

"20 Ways to Waste Your Money," By Erin Burt, Kiplinger. com, July 23, 2009

"Whether a newbie or seasoned budgeter, nearly everyone has spending holes -- leaks in your budget that drain money with you hardly noticing.

These small drips can add up to big bucks. Once you find the holes and plug them, you'll keep more money in your pocket. That spare cash could be the ticket to finally being able to save, invest, or break your cycle of living paycheck to paycheck.

Here are 20 common ways people waste money. See if any of these sound familiar, and then look for ways to plug your own leaks."

(CONTINUED HERE)

"Some Unemployed are Giving Up," By Liz Wolgemuth, U.S. News & World Report, July 22, 2009

"In some U.S. states, nearly half of the job

seekers who have stopped looking for work have done so because they simply don't believe they'll find anything. Indeed, the number of discouraged workers nationwide has more than doubled in the past year. This trend won't be reflected in the widely publicized unemployment rate, as discouraged workers aren't included among the unemployed. Still, in states as diverse as Mississippi, South Dakota, and New York, the span of this often invisible slice of workers signals a population losing its hope."

(CONTINUED HERE)

"Nine Reasons the Economy is Not Getting Better," By Mortimer B. Zuckerman, US New & World Report, July 15, 2009

"We are now looking at unemployment numbers that undermine any confidence that we might be nearing the bottom of the recession. The appropriate metaphor is not the green shoots of new growth. A better image is to look at the true total of jobless people as a prudent navigator looks at an iceberg.

What we see on the surface is disconcerting enough. The estimate from the Bureau of Labor Statistics of job losses for June is 467,000. That increases by 7.2 million the number of unemployed since the start of the recession. The cumulative job losses over the past six months have been greater than for any other half-year period since World War II, including demobilization. What's more, the job losses are now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all employment growth from the previous business cycle.

Next year, state budgets will have depleted their initial rescue dollars. Absent another rescue plan, they will have no choice but to slash spending or raise taxes, or both. The complete state and local government sector, which makes up about 15 percent of the economy, is beginning the worst contraction in postwar history in the face of a deficit gap of $166 billion for fiscal year 2010, according to the Center on Budget and Policy Priorities, and a cumulative gap of $350 billion in fiscal year 2011.

That's bad enough. But here are nine reasons we are in even more trouble than the 9.5 percent unemployment rate indicates."

(CONTINUED HERE)

Blog Comment: Peak Oil is the reason for continued economic malaise. Eventually state and local governments will lack the resources to maintain the highways -- which support maintenance for the power grid. Federal assistance to states will decline as federal revenues decline. Some 70% of federal revenues come from income taxes. Read more HERE and HERE.

"We're not out of the woods – G8 leaders fear double dip slump," By Larry Elliott and Patrick Wintour, Guardian.co.uk, July 8, 2009

"The leaders of the west's most powerful countries expressed fears tonight of a double-dip recession and stressed the continued need for emergency measures to boost growth until recovery from the worst post-war global recession was assured."

(CONTINUED HERE)

"7 Industries That Are Still Making Money in a Recession," By Parija B. Kavilanz, CNNMoney.com, May 22, 2009

"With shopping no longer their favorite pastime, Americans appear to be spending their money in other ways, such as acquiring new skills, getting help with their finances and visiting the dentist."

(Continued HERE).

Peak Oil Current Events, Kenneth S. Deffeyes, Beyond Oil, May 29, 2009

Click Here >>> Join us as we watch the crisis unfolding

Blog comment:

Professor Kenneth S. Deffeyes correctly forecasted crude Peak Oil in May 2005. By hindsight we will come to understand the Peak as the plateau between 2004 and 2008.

There are many labels for Peak Oil impacts, such as "crisis" or "long emergency." But these terms suggest major problems for a brief period. Because oil depletion is terminal and viable alternatives are non-existent, we face a global catastrophe which has no parallel in all of human history.

Peak Oil Financial Crisis: "Best Places to Get a Part-Time Job," By Kate Klonick, SmartMoney.com, April 10, 2009

"Best Places to Get a Part-Time Job"

Peak Oil Financial Crisis: "Fox orders downsizing reality series," By James Hibberd, The Hollywood Reporter, April 8, 2009

""You're fired" -- but for real.

Fox has ordered a one-hour unscripted series that turns real-life company layoffs into a reality contest.

The show's working title is "Someone's Gotta Go." Employees are called to a meeting and informed there will be layoffs, but with a reality show twist: The staff will be allowed to determine who is fired.

The employees will have access to the company's internal information -- budgets, HR files, salaries, etc. -- to help make their decision."

(Continued here).

Peak Oil Financial Crisis: "New jobless claims fall more than expected to 654K," By Christopher S. Rugaber, Associated Press, April 9, 2009

WASHINGTON (AP) -- "New jobless claims fell more than expected last week but are stuck at elevated levels, while the number of people continuing to receive unemployment insurance approached 6 million, setting a record for the 10th straight week."

"The Fed expects the unemployment rate -- now at a quarter-century high of 8.5 percent -- will probably "rise more steeply into early next year before flattening out at a high level over the rest of the year," according to minutes from the central bank's March meeting released Wednesday. Many private economists expect the rate will hit 10 percent by year's end."

(Continued here).

This would put the total unemployment rate at some 18% by year's end.

Peak Oil Financial Crisis: "Quarter of companies globally set to freeze pay," Reuters, April 7, 2009

"A quarter of the world's companies, and 40 percent in the United States, plan to freeze salaries this year, but employees in South America and India can look forward to robust rises, a global survey shows."

(Continued here).

Peak Oil Employment: "Hired! 5 successful job seekers share their secrets," CNNMoney.com Fortune Magazine, April 3, 2009

Read 5 Case Studies here.

Peak Oil Employment: "How to get a job," By Jia Lynn Yang, March 30, 2009 CNNMoney.com Fortune Magazine

"It's brutal out there. But the people getting hired aren't necessarily the most connected - they're the most creative. From food diarists to Twitter stalkers to candidates tapping the "hidden" job market, here's what's working now." (Continued here).

Peak Oil Employment: "How to Get a Job When No One's Hiring," By Jia Lynn Yang, March 30, 2009 (FortuneonCNNMoney.com)

"David Perry, a longtime headhunter, says you're wasting your time if you're looking for job postings online. And he should know: he's often the guy on the other side helping companies lure new talent. Perry, who's based in Ottawa, says that in the last 22 years he has accomplished 996 searches totaling $172 million in salary. And the bottom line in today's economy, he says, is you have to tap the 'hidden job market'."
(Contined here)