CCI is a concept i recently discovered on foxnews.com and thought I’d share it with you. The news article, posted January 27, 2009, stated: “A private research group says that Americans' mood about the economy has darkened even further in January. The Conference Board said Tuesday that its Consumer Confidence Index edged lower in January to 37.7 from a revised 38.6 in December. That's a historic low for the widely watched barometer, as shoppers worry about their jobs and watch the value of their homes and retirement funds dwindle.”
The Wall Street crisis has brought with it far-reaching, far-from-temporary effects. The financial doom has affected millions of lives by either leaving them jobless (esp. bank employees) or making it cumbersome for them to raise funds, either as individuals or organizations. My family is no exception, as one of my relatives, who worked in UBL, was laid-off unexpectedly. Others are facing an ordeal trying to sell land and property, a market which has experienced a horrendous plummet in demand.
Even the most powerful economy on the globe is reeling from the shock, so needless to say that developing ones like ours are much worse. I believe that had this survey been carried out here in Pakistan, the results would have been much more gloomy.
1 comment:
Well their government brought this on them & not just them but on us as well.
Agreeing with your stance another thing which is more troubling is that the society is being divided into two segments, upper class & lower class. Slowly the middle class is being wiped out.
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