The Economy Is Getting Worse and Worse -- And No One's Doing a Thing About It

By Danny Schechter, AlterNet
Posted on August 22, 2010, Printed on August 23, 2010
http://www.alternet.org/story/147929/

We know we live in hard times that are on the verge of getting harder, with 500,000 new claims for unemployment last week, a recent record.

The stock market may be over for now as fear and panic drives small investors out. Big corporations hoard stashes of cash rather then hire workers. The D word (depression) is back in play.

Foreclosures are up, and the administration’s programs to stop them are down, well below their stated goals, only helping a sixth of those promised assistance.