U.S is in bad shape!

The current economic meltdown is sparing no sector of the economy. Hardest hit is the banking and investment sector, followed closely by the auto sector. The butterfly affect is slowly taking shape and were are seeing small towns with ghost malls, venereble buisness going out of buisness at an alarming rate. With no end in sight, and even President-Elect Obama has said he fears we havent reached bottom yet. He has also stated the fact that he wants to guide us through this difficult journey to a more prosperous time. Some of the casualties of this economic collapse have been:

Lehman Bros, Washinton Mutual, Continental Illinois, First Republic, IndyMac, American Saving and Loan, Bank of New England, Mcorp, Gibraltar Savings, First City Bancorp, and  Homefed Fa these are the top ten banking collapses there are 22 in total at the moment.

With the substantial amounts of banks that have collapsed or closed along with the investment sector taking a beating combined with over 500,000 people out of work since the collapse. That 700 billion dollar stimulus package now looks like a drop in the bucket, compared to the 1.4 trillion that they are currently guaranteeing in bank debts and defaults.

The broader outlook and effect on the economy is not looking very rosy this holiday season either as: Sara lee trying to spinoff all brands that are losing money, Kb toys goes out of buisness

Office depot closing 112 stores and laying off 2200, Sony laying off 9,000, Yahoo lays off 1,500, Citigroup lays off 51,000,  even sotheby's is eyeing layoffs and the list goes on...  Well now dont have to wonder what it was like during The Great Depression  we are close to having our own! And we have 30 days until we get to see what kind of architect the President-Elect is. He cant be any worse then Dubya!!! With this amount of collateral damage the system will never be the same and how many years will it take to get  fixed or can it be fixed?