Piling on to the big motivator for defense budget decision making…
BBC NEWS | Business | US economy suffers sharp nosedive
US economy suffers sharp nosediveThe US economy shrank by 6.2% in the last three months of 2008, official figures have shown, a far sharper fall than had previously been reported.
Plunging exports and the biggest fall in consumer spending in 28 years dragged the annualised figure down from an earlier estimate of 3.8%.
The decline was much worse than analysts had expected, sending US stocks spiralling lower.
In 2008 as a whole, the economy grew by 1.1%, the slowest pace since 2001.
Technorati Tags: U.S., Budget, Economy, Defense
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Russian economy shrinks by as much as 50%; we should consider ourselves lucky. The rain is still pouring like crazy with no end insight. Petro cost nearly $150 per barrel last June and about $45 this week. That’s how wacky the global economy has become nowadays….