Crisis Economic Conditions
The Worst is yet to come.
by Stephen Lendman
Global economic data signal trouble. Headlines reflect worsening conditions.
The Financial Times said America's dismal jobs report and world economic weakness raise "fears of a sharp global slowdown" or worse.
According to the London Guardian, Britain and Euroland face a "deeper recession after figures showed manufacturing output slumped at its fastest" rate in three years.
The Daily Telegraph said oil hit a 16th month low below $100 a barrel. At Friday's close, WTI crude stood at $83.26. Brent slumped to $98.63. Declining prices signal weakness.
The London Independent worried about "worldwide panic" as Dow prices plunged 275 points. It was the worst single day's performance since last year.