US job cuts, foreclosures mount again!!!

US job cuts, foreclosures mount!!!

www.wsws.org

This week brought new indications that any economic “recovery” in the US will not be shared by the working class. Telecommunications giant Verizon announced that it would eliminate 8,000 jobs by the end of the year, new data showed that the foreclosure crisis is continuing to mount, and weekly initial jobless benefit claims rose.

(visit the link for the full news article)



[edit on 1-8-2009 by Sundancer]

Please read the link for even more layoff announcements...

It's not getting better!!! We're being lied to.

Lending at top banks has contracted by 2.8 percent in the second quarter. Freight and shipping volumes have declined further.

Foreclosures continue to mount, no longer driven by the subprime mortgage market, but by layoffs and wage cuts to homeowners with prime loans.

This week's Labor Department number of initial jobless benefit claims, 584,000, exceeded economists' projections and far surpassed the 300,000 to 350,000 threshold required to maintain steady national employment levels.

So what's going to happen to us???


www.wsws.org
(visit the link for the full news article)

reply to post by Sundancer



But The market keeps going up, lots of companies are posting profits.

But They say that foreclosures come in waves, first the degenerates living beyond their means, then the laid off who cant afford to pay thier once sustainable mortgage, then come the vicious of more laid off foreclosing.

Then of course there is commercial real estate which I am involved in a little and can tell you that vacancies are up, as are defaults on leases.

As far as im concerned 09 is turning out to be a de-ja-vu of 08, summers where great (commodities hit their peak in summer of 08) then the fall comes and watch out bc panic will sst in, only difference this year is the possibility of a pandemic in the way of swine flu h1n1.

Sure, things are getting worse. They will get a lot worse. We are in the death throws of the NWO.

The signs of what's coming are permeating the air around us...... vaccines, pandemics, body bags, coffins, wars, etc..........................the list's grow, and grow.

Seems most people just don't care. Too bad for them.

Originally posted by sanchoearlyjones
Sure, things are getting worse. They will get a lot worse. We are in the death throws of the NWO.

The signs of what's coming are permeating the air around us...... vaccines, pandemics, body bags, coffins, wars, etc..........................the list's grow, and grow.

Seems most people just don't care. Too bad for them.

it's not that most people don't care...they have no power to do anything about it. this country was bought and paid for a while ago, and we are just realizing it now. as many people as possible should pay off their bills, while the dollar still retains some value. buying some cheap silver coins, and gold coins if you can afford it, is a good idea. if nothing happens to inflate the dollar...you can still sell them back at some future time.

[edit on 1-8-2009 by jimmyx]

Didn't someone at Verizon get a 20 million $ bonus recently?

www.networkworld.com...

www.forbes.com...

www.unionvoice.org...

That's 400 50k/ yr jobs right there OR 800 25K / YR jobs. That's only one person, what about other Verizon higher ups.

Seems fair? Right?




[edit on 1-8-2009 by squidboy]

reply to post by Sundancer


This is impossible.

Obama says we've turned the corner and the stimulus is working.

Newsweek said the recession was over.

Obama wouldn't lie to us.

Nobody has lied about the recession/depression.

All the top economists, even the ones who advocated the stimulus, have said that things will get worse before they get better. So has President Obama.

When a recession (or depression) improves one of the last areas to be affected is unemployment. Employers are reluctant to hire or rehire until they are satisfied that their business is picking up enough to justify it.

Yes, of course economic bad times hurt the working class as much, if not more, than the rest of the population.

The good news is that economic indicators show that the recession is slowing down and beginning to turn around.

The stimulus is helping but it won't happen overnight.

[edit on 1-8-2009 by Sestias]

reply to post by Desolate Cancer


First you must understand that the business model has adapted to the current economy, volume has gone down, but so has the number of fulltime employee's so that workload = workforce, also many companies are adopting parttime employment where these same companies may not have had that availability prior; parttime employee's cost a company less in overhead than fulltime employee's, therefore by the numbers a company can show a profit.

The market is driven by a numbers game.

I believe I mentioned something in another thread about good news delivery comes Tuesday, REAL news delivery comes Saturday.

Everything everyone else said is correct, so there is no reason for me to just repeat it.

All I will add is that since Saturday is the least viewed news day, many will sadly not see this.

What's worse than Obama and his cronies lying about the TRUE state of the economy?

The fact that the bubble he's creating is worse than any other bubble because of the dire straights of so many. There are people left with nothing but a few dollars separating them from complete poverty, and they will get sucked right into the "positive news" about the economy simply because they are looking for anything that means they won't end up homeless.

It's one thing to exaggerate profits when things are solid and peole have a decent cash flow (not right, mind you) but it's a whole new low to overstate it when people are already desparate and grasping at straws to put a meal on the table.

Shameful. Completely and utterly disgraceful.

reply to post by squidboy


Holy water vapor Squid boy!!! Great detective work. Not that they hide it now days, in fact they rub it in our faces, but great find anyway. How do they justify giving someone a 20 million dollar bonus when it would have paid 50 grand in salaries for 400 people who were laid off because of lack of funds.

This is sickening

Originally posted by Sestias
Nobody has lied about the recession/depression.

Really? I mean, really?

I consider purposefully NOT disclosing information to be lying. It's called lying by omission. Further, giving people false hope before there are any indicators to support said hope is also lying in my book.

The stimulus is helping but it won't happen overnight.

Can you please tell me how, rather WHO, the stimulus has helped? I mean real people, not CEOs and politicians -- everybody knows they get helped no matter what.

I would like to see where the stimulus is being spent that helps the AVERAGE American have a better life. I've not seen one shred of evidence of it where I live -- so I'm curious where you are witnessing this.

Although I realize that the stimulus wouldn't work overnight -- it's been more than 7 months and $800B+ dollars. Frankly, I don't see any numbers that tell me this was a good use of MY TAX DOLLARS.

reply to post by jimmyx


The people aren't doing anything about it, and they really don't care. Could be more subconscious, but they don't care.

As you pointed out, their trying to make ends meat............ Which is only perpetuating the cycle of control. The way of life now known, was fed, or created by the NWO. These people should take a real hard check at life.

See what is unneccessary now, and cut it out. I mean everything which feeds the system..

The people won't! They won't endure a small amount of hardship in order to halt the cancerous system.

They'd rather live in ignorant bliss, than to face the real hard facts; which will hit them like a ton of bricks very soon.

Originally posted by Desolate Cancer

But They say that foreclosures come in waves, first the degenerates living beyond their means, then the laid off who cant afford to pay thier once sustainable mortgage, then come the vicious of more laid off foreclosing.

Well, isn't anybody that has a mortgage, working or not living beyond their means?

What ever happened to people not buying something until they could afford to, including property, like a home to live in.

A mortgage means you couldn't afford to buy something in the first place, whether it is sustainable or not, so by your logic, all people with mortgages are degenerates.

Nobody is guaranteed a job in life, which is something that I was taught from an early age.

If you can't afford something, don't buy it until you are able to.

If everyone lived this thought, there wouldn't be over inflated real estate prices.

Everyone lives according to what a bank thinks they can afford, not what a person can actually afford all the time.

At the cost of Homes and autos to have to save would take years. No one but a very few percent could ever save to buy anything.

It would be back to the days of of old where all but the elite would be living in huts.
These people who are taking home the insane amounts of pay are doing this by the work of the people under them. I do not mind someone making money ,even large amounts of money, but this is getting out of reason.

When the stockholders start thinking of what is going on then maybe this will stop!

reply to post by Desolate Cancer


The markets are manipulated (GoldmanS). Find a good program that shows you VOLUME of deals - it's just not there. Most people who pulled out are still on the sidelines - only problem is that those dollars just sitting there are losing value by the minute.

What's the latest on Michael Jackson? Are they still chasing down Dr. Conrad Murray?

You just KNOW this is much more important than the little average joes losing jobs - according to the corporate controlled media...

Originally posted by Blanca Rose

Originally posted by Desolate Cancer

But They say that foreclosures come in waves, first the degenerates living beyond their means, then the laid off who cant afford to pay thier once sustainable mortgage, then come the vicious of more laid off foreclosing.

Well, isn't anybody that has a mortgage, working or not living beyond their means?

What ever happened to people not buying something until they could afford to, including property, like a home to live in.

A mortgage means you couldn't afford to buy something in the first place, whether it is sustainable or not, so by your logic, all people with mortgages are degenerates.

Nobody is guaranteed a job in life, which is something that I was taught from an early age.

If you can't afford something, don't buy it until you are able to.

If everyone lived this thought, there wouldn't be over inflated real estate prices.

Everyone lives according to what a bank thinks they can afford, not what a person can actually afford all the time.

No that is not what it means. Homes cost a few hundred thousand, how many people do you know who have more than $200k in the bank?

WHen someone takes a mortgage the bank who has lots and lots of money from many peoples deposits lends that money out to the home buyer so they can but the house, then the bank collects a percentage more than wht they lent out.

There is nothing wrong with a mortgage, if you make $4000 a month and pay $2000 of it to the bank for the loan, there is something wrong with a mortgage if you make $2200 a month and pay $2000 to the bank for the mortgage.

Originally posted by Sundancer


So what's going to happen to us???

You are going to have to figure out a new way to make money.. that's all... it's a paradigm shift that we are going through right now.


Find out who is making money, and provide services to them. That's what I'm doing.

It's called capitalism.




[edit on 2-8-2009 by HunkaHunka]

reply to post by Sestias


Nobody has lied about the recession/depression.

All the top economists, even the ones who advocated the stimulus, have said that things will get worse before they get better. So has President Obama.

When a recession (or depression) improves one of the last areas to be affected is unemployment. Employers are reluctant to hire or rehire until they are satisfied that their business is picking up enough to justify it.

Yes, of course economic bad times hurt the working class as much, if not more, than the rest of the population.

The good news is that economic indicators show that the recession is slowing down and beginning to turn around.

The stimulus is helping but it won't happen overnight.

[edit on 1-8-2009 by Sestias]




can i get some of that kool aid that you are on!! i love the positive nature that you bring to the op. just a quick question for you? if the united states produces nada! how is anything going to get better? did you read the part about all the loss of jobs with verizon? hmm where are they going to go to work at? burger king again love the positive attitude, but you might want to open your eyes a bit!!