According to Labor Department figures, US unemployment rate jumped in March 2009 to the highest level since 1983 and service industries shrank at a faster pace, indicating the economy remains trapped in what is likely to be the longest recession since the 1930s. The economy lost 663,000 jobs in March, bringing losses since the slump began to about 5.1 million, the worst in the postwar era.

The labor market collapse will make it tougher for President Mr Barack Obama to follow through on his pledge to save or create 3.5 million jobs.

Mr Barry Zekelman president & CEO of tubular producer John Maneely Co took a strong anti China stance during a presentation at the event. He added that "I do hate China. Not the country, but the way they practice their trade."

A new report by the Army War College's Strategic Studies Institute states flatly the US military must prepare for a violent, strategic dislocation inside the United States that could be provoked by unforeseen economic collapse or loss of functioning political and legal order.

In short, US officials expect big trouble ahead but they are not warning the general public about the danger much less urge the unsuspecting masses to make basic preparations.

Mr Stephen Flynn former head of the US Commission on National Security said that a rare critic of the government's keep the public in the dark mentality is. He added that "Too many officials believe telling the truth to Americans about the risk would set off a nationwide panic. Thus, they keep us sheep in the dark for our own good."

(Sourced from NY Times)