The current economic downturn/collapse is now 14 months old and already over 3.6 million jobs have disappeared and probably more. Comparing the current downturn to ones that started in '90 and '01 gives us an idea on how bad it wll get. It would not be surprising if total job losses in this downturn exceeds 7.5 million by mid 2010. The harshness and severity of this economic downturn is much greater than the last two. It would seem that a turnaround is at least 18 months away and increasingly possibly farther out. The federal legislation for a stimulus at this point appears to leave a lot to be desired with too many tax cuts and not enough employment being generated from the bill. There is nothing to be upbeat or optimistic about the economy.*****
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