NEW YORK — The Bank of New York Mellon Corp. said Thursday it will cut its worldwide work force by 4 percent, or about 1,800 jobs, blaming the weak global economy. The Associated Press to cut 10 percent of work force Honda Motor Corp. said Friday it will cut production in Japan and Europe by [...]

HEADLINES:CITIBANK LAYING OF 53,000 more to follow? READ IT HERE From the British TELEGRAPH: (snippets)But this week, I saw a picture in a newspaper which really did tell the story. It was an aerial shot of Hong Kong harbour. Rank upon rank of merchant ships stretched away across the water. Normally such scenes are displays [...]

HEADLINES:CITIBANK LAYING OF 53,000 more to follow? READ IT HERE From the British TELEGRAPH: (snippets)But this week, I saw a picture in a newspaper which really did tell the story. It was an aerial shot of Hong Kong harbour. Rank upon rank of merchant ships stretched away across the water. Normally such scenes are displays [...]

Well according to Garth Turner the former minister of finance, it does NOT look well.He claims there will be massive fallout both in the auto industry and housing industry. You basically will not be able to sell your house! CASH WILL BE KING! Read the forcast here: Garth Turners COMMENTS