US consumer spending at 0.1% in Feb 09
Nothing is seemingly working out for US as of now. The latest set of unemployment data released yesterday, showed the continuation of increase in the unemployed people in US. Today the consumer spending data for February 2009 also reads at a pathetic 0.1%.
The housing prices are also ruling at multi year lows, and the GDP growth rate for 2008 fourth quarter is the worst seen in last three decades. Barak Obama wants a great bit of luck to get out of this mess. And AIG problem is only getting bigger with every passing day. Nobody in AIG or outside AIG knows the actual quantum of mess up of the company, and hence even after gobbling up over 170 billion US dollars, the company wants another 30 billion now (this is not supposedly the last tranche. more may be necessary).