Depression Ahead?

Mounting job losses for the last six months and our economic crisis will cause unemployement rate to break six percent soon. However, real unemployement is closer to twelve percent. A recent survey showed 11% of respondents were without work.

Part of the problem is rising fuel costs. The cost of heating a home in Boston is now over $4,000.00 per year and things are getting worse as oil prices rise to record highs. This leaves little money for food which is getting more expensive due to rising fuel costs as well as the floods which destroyed 20% of the corn crop. Add to this transportation is affected by oil hitting record highs over $140/b and some say it will go over 200 before th year is out.

I believe we will see a depression or even a megapression.