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Almost all U.S. cities to lose jobs in 2009: forecast

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posted on Jan, 17 2009 @ 09:13 PM
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Almost all U.S. cities to lose jobs in 2009: forecast


www.reuters.com

WASHINGTON (Reuters) - All but five U.S. cities will experience job losses this year, with New York suffering the largest decline, according to a forecast released by the U.S. Conference of Mayors on Saturday.

Global Insight, an international economic forecasting firm that put together the outlook for the mayors' group, projected that by the end of 2009 one-third of all metropolitan areas in the country would have experienced no overall job growth for the first decade of the century.

New York will likely shed 181,000 jobs this year, with more than 50,000 in the financial services industry alone, the firm said. Los Angeles will lose 164,000 jobs. Overall, 171 cities will see job losses in excess of 2 percent through 2009.

Unemployment rates will rise above 10 percent this year in 70 of the 363 metropolitan areas in the United States, Global Insight said.

In November, 23 cities had jobless rates of at least 10 percent, according to a report released this month by the Bureau of Labor Statistics, while 121 had rates of at least 7 percent.

Metropolitan areas are home to 90 percent of the country's wage income, according to the firm.
(visit the link for the full news article)


Related News Links:
www.reuters.com

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posted on Jan, 17 2009 @ 09:13 PM
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As these losses take place we will continue to see wave after wave of defaults, bank failures and government institutions stressed to the point of insolvency, and then it's off to bankruptcy and default. Which will cause capital flight, which will leave us with a massive amount of worthless dollars.

How much more evidence do we need? Gold has gone up by 2 percent in the last 24 hours. California is essentially insolvent as they announced that they will not be paying tax returns, welfare, or even student loans and grants. We are officially on the roller coaster ride to hell.

www.reuters.com
(visit the link for the full news article)



posted on Jan, 17 2009 @ 09:34 PM
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Most of this is going to go unnoticed by the majority of the public till after Obama is sworn in since that is going to be their focus till that point.

Then the media is going to go into a frenzy...at least that's what i think. People will start to wake up as things quickly get worse..all the while justifying Obama's spending programs to "stimulate" the economy. Little do they know that Obama can not fix this...he's only going to make it worse.

It's going to be one helluva show. It's not everyday you get to be a part of an economic collapse.

I'll hope for the best, but i think i may be fooling myself.

At least i'll have the luxury of knowing that it is coming as many will not.



posted on Jan, 17 2009 @ 09:39 PM
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Just hope that I am dead wrong. I do.

But I doubt it.



posted on Jan, 17 2009 @ 09:53 PM
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reply to post by projectvxn
 


I agree. It's almost impossible to be optimistic at this point when you start to add everything up.

Bailouts, out of control government spending, job loss, bank closures, failing businesses, insane federal debt, insane state debt, looming social security bankruptcy, looming medicare bankrupty, corrupt politicians, corrupt CEO's, corrupt bankers, congress voting against the will of the people, massive worldwide hate for the US, expensive wars, innocent deaths, out of control illegal immigration, increasing/expensive natural disasters, etc. etc. etc.

What is there to be positive about really? ....I mean besides being alive and having a roof over our heads? I'm not starving yet..so that's good.

The crazy thing is that even if it all comes crumbling down, we will still be better off than other many other countries..which shows how bad they have it and how good we DID have it.


Our time at the top is over...it's best to let it happen. The world isn't going to keep us propped up at the top anymore.

It's hard to justify our wealth when so many in the world have nothing and were born into nothing with no fault of their own.



posted on Jan, 17 2009 @ 10:01 PM
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Yeah, and those same people that are born into nothing are buying our debt to their detriment. People think the dollar is a sure thing, and boy are they going to be in for a big surprise.



posted on Jan, 17 2009 @ 10:04 PM
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reply to post by projectvxn
 


The only real question now to me seems not IF the economy collapses...but when?

IF anyone can show some positive information that things may turn around by all means bring it on!



posted on Jan, 17 2009 @ 10:04 PM
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Just caught wind of this one from DimensionalDetective:

www.abovetopsecret.com...

This is what our bailouts are paying for. And all it's doing is destroying the dollar.



posted on Jan, 17 2009 @ 10:05 PM
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reply to post by David9176
 


All the positive information seems to all be short term gain made by less than ethical manipulations in prices and interest rates. If there's any positive news is that soon the American people will wake up.



posted on Jan, 17 2009 @ 10:08 PM
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reply to post by projectvxn
 


Yes i read that article last night..i almost made a thread about it b/c one hadn't been made yet but i was lazy and didn't. I've been making alot of them lately and they are all gloom and doom.

That article wasn't surprising to me at all though. I figured it was going on. If we didn't tax the hell out of everything it probably wouldn't have happened. It sucks that they do it but i almost can't blame them.

We can blame big government for that IMO, along with the outsourcing of jobs.



posted on Jan, 17 2009 @ 10:28 PM
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I don't believe taking from the rich and giving to the poor and middle classes is penalizing success, but rather, penalizing failure. If there is no middle class there is no buffer between rich and poor. As they keep lowering the annual profit margins which label one as rich for tax purposes, they decrease the middle class buffer zone. This leads to increased class warfare and ultimately can lead to very real fighting. As the poor get poorer, they tend to resort to extreme measures to make the "ends meet" and to provide for the families that many rich and wealthy feel they shouldn't have in the first place as they can't afford it-- hence all the sterilization and abstinence they fund to impose on them.

if the rich and wealthy don't chip in more or a flat tax imposed, they can look forward to the inevitable fall of governments, to the point even the benevolent Feds can't evn bail them out. Hard to implement a NWO if Society's fall into chaos. What are these folks thinking. Wealth used to be in the hands of some very educated people, albeit dirty, conniving, and underhanded enough to sucker lower and middle classes into defending their logic of we earned it why give it away. Now, it is in the hands of morons who inherited it and have no idea of how to actually spend or save. Who spent more time buying grades and degrees and less time actually in class or focusing on educating themselves.

To believe that the purpose of Capitalism is to become so wealthy that the people on whose backs made you your money you step on actually praise your sucess, dreaming they can achieve it to and would do nothing to interfere with the status quo in hopes they might get some rather large crumbs in exchange is nuts. And they say I'm crazy.
If the wealthy and rich don't come off of half of the ill gotten money, the system will collapse under it's own weight and no one will have a damn thing, because some militant or other will come to pick up the scraps and enslave everyone.
American logic blows my mind in it's imbicilic nature. Everyone wants money and there's not enough to go around. It's not success if your Society fails. And all those who support the rich and wealthy hording their money, wake up. When this Society falls, they and their money will go elsewhere while you're left standing in the rubble. When the boots are caving in your heads will you still support letting the few have all the currency at the expense of the many from whom they not only aquired it from, but, who aquired it for them?
California is one of 11 States who claim they will be bankrupt this year. Interesting, since they have a good bulk o f the wealthy, famous, and powerful people the media entertainment industries profits prove that so many of you drool over. What chance do small poor states have, much less the tinier islands, territories, annexes, areas, and provinces? None, that's how much. California deserves to go bankrupt. They brought it on themselves with their irresponsib;e and immoral attitudes toward wealth and what makes a strong economy. Look at all their illegal aliens vs.'s their tax dodging elite coupled by their account to know one government, military, and corporate entities. You can only cook your books for so long until they catch fire and burn up.
Maybe, I'm being too cynical.



posted on Jan, 17 2009 @ 10:32 PM
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PhyberDragon

I'm of the mind that the less the government is involved with exception of enforcing regional and national monopoly and ethics laws to bolster competition, the better. Government does nothing more than hurt the situation. And even if they started taxing those ridiculous profits it wouldn't make a penny of difference. They will collapse and laugh their way to vacations in South America. America is an upside down pyramid and it has been so regardless of political parties. They are largely self serving. And nothing good has ever come of them.



posted on Jan, 17 2009 @ 10:36 PM
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This has been predicted since last year but as usual is been relegated to the back due to first the elections and then now the inauguration.

America is in a "Festive" mode and its time for America to celebrate "Democracy".

What a joke.

Sadly the Obama spending economical stimulus is going to bring the great depression all over again.

Our economy will collapse after the fat rats in Wall street finish recuperating their loses with the new Obama stimulus and lack of oversight that will come with it and then they will leave the boat to sink.

Why I am so pessimistic, very simple, while Obama stimulus sounds like a good thing, is base on spending borrowed money that we don't have.

Until this day I have no seen any intention by the put together Obama administration of Clinton ragtag that will help in anyway put in order laws and bills to eliminate all the same bills and laws that many of them helped enact during the Clinton administration that has brought our economy to this point.

How can Obama change anything with the same trash that are behind this nation down fall?

The trade deficit is $819 billion dollars, we do not produce anything anymore, putting money in financial institutions is not going to save anything or anybody.

US laws thanks to the Clinton administration NAFTA and free trade engages in penalizing the hard working Americans with a burden on the tax payers in pursue of slave labor and sorry conditions of work else where.

Obama can never fix the economy with borrowing if he can not fix the industrial base first.

We have none right now, all gone oversea.

Since the 1990s boom on the technology sector we have lost everything that we gained.

Our laws on trade reward outsourcing and importing while punishing home production

America can not prosper as long as America keep buying foreign goods.

Because all the profits will go oversea.

Even our nations defense contracts lies in the hands of foreign nations, when once Americas secrets were kept secret, now they are tools of bargaining on foreign hands tables.

No even the pistols or machine guns that US uses in the military is made in America.

Now Belgia and Italy hold those contracts.

Funny.

We are in trouble and many have not clue as how much.



posted on Jan, 17 2009 @ 10:41 PM
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reply to post by projectvxn
 





America is an upside down pyramid and it has been so regardless of political parties. They are largely self serving. And nothing good has ever come of them.


Right on. I hate the two party system...HATE IT. All the mindless bickering i see on the threads of Rep/Dem supporters finger pointing at the other...it's ridiculous. They are both at fault.

I hate big government as well..but i seem to be far in the minority on that one since most of the public seems to keep accepting that more spending is the answer....although there seem to be many on ATS that are against it all...but we definitely don't mirror the public's view.



posted on Jan, 17 2009 @ 10:53 PM
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reply to post by marg6043
 


Marg...thanks for depressing the hell out of me...LOL.

You just crushed most of the hope i had left...but you are right. We need to start producing things again...but how? We tax the daylights out of everyone...they have no reason to stay here, and how can we drop taxes when we have an absolutely ridiculous debt?

It's all such a mess and i don't see any possible way of fixing it.



posted on Jan, 17 2009 @ 10:55 PM
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The funny thing is,,,,,,,,,,,,,,,,, WHERE IS ALL THE MONEY GOING??? The world still has the potatoes, the beef, the apples, the oil, the cotton, the wood, the metal, the appliances and the TV sets and stereos and the tools and the toys. The real question is: In whos hand is it all going? We need to get together and use force and take it back and distribute it fairly and evenly among all of us. Yeah I know that sounds insane like socialism but better than a starving homeless end of life while some ultra rich people are living high of the hock.



posted on Jan, 17 2009 @ 10:59 PM
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I get the feeling that this topic just isnt sinking in with the average consumer as of yet. People are still somehow denying the state of peril that our country is in and heading for still.

Seems that reality will be a real shock for some who think our economy is simply going to somehow magically rebound itself from this financial catastrophe. Guess what my optimistic friends....it is going to get WORSE.

This past holiday season was a last hoorah for a lot of Americans, one last moment to find a measure of calm and peace before the storm. The dreaded year of our lord 2009 is now upon us like an angry and starved beast, and the aftermath is going to be something never seen before in our generation.

If you have a job, adequate food and a place to live right now consider yourself fortunate.....if you have a job, adequate food and a place to live this time next year consider yourself the exception and not the rule.

I wish it weren't so but current events state otherwise.



posted on Jan, 17 2009 @ 11:00 PM
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Oh yeah, I forgot to say. There have been so many doomsday forcasts with such realistic proof written in them and it didn't happen. I wonder if some one is trying to make a disaster by using fear. Maybe not by fear alone but it sure helps to make things increase towards the badder.
Maybe tomorrow, instead, hell will freeze over.



posted on Jan, 17 2009 @ 11:01 PM
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The nation needs to collapse, reach bottom, let the banks fail and wall street to take a hit.

What is going right now is not right, our government is backing the banking system at the expenses of the citizens of this nation, that is unconstitutional.

But what can we do when Washington is ruled and controlled by corporate America.

[edit on 17-1-2009 by marg6043]



posted on Jan, 17 2009 @ 11:06 PM
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reply to post by BlackOps719
 


All I can do is hope to God that you are wrong. I pray every day and if things really get bad I can just say my last prayer and go run infront of a train. But I think this is all another attempt by the "global elite" (the "banking cabal") to destroy the world economy and buy out everything and take over the world and dictate their own bloody agenda. Maybe God will answer my prayers and take me out of this world before it gets too bad.



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