Jobs Cuts Unexpectedly Accelerate

reply to post by SpookHunter


Ya cuz robots doing doing the jobs is going to create jobs.

Huh?

Really how does that work? How does a robot doing the work instead of some kid in china create jobs? Please enlighten me i very curious as to how that would happen.

Fear not Americans, the next phase of stimulus spending will kick in soon and save or create 3,000,000 jobs, +- 10,000,000 depending on whether or not health care reform passes.

Originally posted by saturnine_sweet
reply to post by joscarfas

 

lol Does anyone else miss objective reporting?

Im sorry, whats that?

Fear not Americans, the next phase of stimulus spending will kick in soon and save or create 3,000,000 jobs, +- 10,000,000 depending on whether or not health care reform passes.


Please elaborate on this? This is the first i have heard of this. Or are you being sarcastic?


[edit on 2-10-2009 by Nicademus]

Originally posted by Nicademus
Fear not Americans, the next phase of stimulus spending will kick in soon and save or create 3,000,000 jobs, +- 10,000,000 depending on whether or not health care reform passes.


Please elaborate on this? This is the first i have heard of this. Or are you being sarcastic?


[edit on 2-10-2009 by Nicademus]

I am pretty sure that was sarcasm on the poster's part. Of course stimulus helps in the short terms, but its also creating artificial business demand, and when stimulus funds are withdrawn there is a big drop. Hence the double dip concerns since nothing that has caused this crisis has been fixed. If anything its getting worse.

finance.yahoo.com...

Stocks fall following disappointing jobs report

"There's been a lot of talk particularly in the last couple of months that we're seeing a turnaround in unemployment, and obviously that's not the case," said Dan Cook, senior market analyst at IG Markets in Chicago.

Meanwhile, a surprise drop in factory orders extended the recent string of disappointing economic readings. The Commerce Department said factory orders fell 0.8 percent in August following a 1.4 percent gain in July. Analysts had been expecting a 0.7 percent increase.

The market's optimism has been tested this week by a number of economic indicators that have either weakened or fallen short of expectations, a disappointment after several months of hopeful signs on key industries like housing and manufacturing. That has led investors to question whether the 50 percent surge in stocks over the past six months can be sustained.

Originally posted by jam321
I'm trying to be optimistic. What other signs do you think we should take into account to show that we are recovering?

Higher oil prices?

reply to post by SpookHunter


That's jsut wishful thinking as Japan and Germany will always have better tech. They always will trump whatever robots you build.

i hate to say it, but the prosperity Americans enjoyed from about 1960 to 2000, isn't coming back.

reply to post by liveandletlive


Reading that makes me realize this is all for show. Why? Because reinhardt's fave group is gonna go on a pilgrimage of Crybabyland (Israel) Oct. 10-19. Everything is scripted down including the "surprise" increase of unemployment.

Actually, it's about to get a lot worse.

Penske-Saturn Deal Collapses after Renault-Nissan backs out
www.freep.com...

General Motors said today it would shut down Saturn after respected Detroit businessman Roger Penske shocked GM and 350 Saturn dealers by saying that his plans to buy the storied brand had fallen apart.

The announcement came a day before GM and its dealers expected the deal to be finalized. The failure could cost as many as 13,000 jobs at dealerships nationwide and GM.

That's 13,000 job losses just from the Saturn dealerships. That doesn't take into account manufacturers of parts and labor workers that will also feel the fallout of this.

reply to post by HunkaHunka

Hmm… Those with viable, credible input I implore you to correct and enlighten me, but in my research and observations I don’t really see how the econ can recover. As posted here by others if one understands the federal reserve and how banks create money out of thin air, it seems pretty obvious the limit has reached the end and there is no more credit line.

In brief: If Im the federal reserve (hereby called the FED) and you need a loan, I give you $100.00 but you owe me $110.00 but theres only $100.00 printed. Where does the extra $10.00 come from? I then loan another person $100.00 and they owe me $110.00 but at this point, only $200.00 have been printed. Either person A gets person B to give $10.00 to them and can then pay their debt off (leaving person B to never have a chance) or both are in debt with no possibillity to pay it back. Either way, someone loses out. This is the american way. One person gets rich while someone or others remain in debt forever.

As far as banks go, Im pretty much mirroring a poster here: If a bank gets $1000.00 they can loan 90% of that to a victim, er I mean a borrower. That in turn gets put on the books as a debt and thus the bank has $1900.00 and can loan $1710.00 to another victim, but only has $100.00 cash on hand. This is why the banks closed the doors during the 1928 depression and noone could access their funds.

This has been going on for decades, so how exactly can the economy recover? China is no longer buying US debt and in fact, paid out over $700 trillion to buy YOUR land so the US could support the stimulus program. Yes, I said YOUR LAND. Since there is no more infrastructure left to buy as its all been outsourced, the US sold your land. You don’t own anything of value in the US.

Outsourcing: Why has outsourcing become such a prime factor? NOT because of wages per se’, but because of greed. If a product is built in the US, and it is marked up 300%, you get the true market value of that product, according to academic business schooling, and anything less is consider bad business practice (aka a loss). However, since china can build an “adequate” product for considerably less, corporations can add anywhere from 400-800% markup and still undercut true market value of said product.

Corporations: Corporations, are the enemy of the people. When wage cuts went into effect, it was the laborer that took the greatest impact. NO CEO, VP, or President was affected by the cuts, even if their wages were cut as well, never did any of them have a problem getting food or paying the rent. Yet it is entirely the laborer that manufactures and fabricates the products being sold. You got sold out so the top tier could remain at a high wage. I come from a city that was once a WORLD LEADER in manufacturing of hardware (nuts, bolts, fasteners, etc.), furniture and engine parts across the world, from defense to automobiles. That city (which I no longer live in) is now a skeleton and its industry is no more. Thousands of factories now lie in ruins. The wrong people were paid too much and the right people paid too little.

The only way to recover, is by using a cold hard tactic I outlined in my first post:
www.abovetopsecret.com...

By eliminating this entity (see my post) the entire rest of the world can benefit. It is pretty obvious the implications of doing so.

To close, I am sorry but I do not foresee any recovery. Please prove me wrong. All I see are the greedy selling out all they can and jumping ship, leaving the rest to drown in the demise. Perhaps we should all be doing the same to escape the inevitable.

reply to post by HunkaHunka


lol here you go again hunka hunka with your usual delusional ideas! me and you have had some differences in the past and yet again i see we still do.

HOW IN SAM HILL IS THIS ECONOMY GOING TO GET BETTER WHEN THE UNITED STATES HAS OUTSOURCED ALL OF ITS JOBS?

are you smoking something illegal?
we are sitting as if it was precisely 1929 all over again, with the dow going down then crashing.

want more info check this link out!

www.marketoracle.co.uk...





[edit on 2-10-2009 by tatersalad]

It's not just the unemployment that is hurting America, it is the under employment which is said to be at 25%.

This isn't my situation but it very easily could be.
For example lets say I had a wife and 2 children and was making 50K a year at a good company back in the spring of 2008, but in the summer of 2008 I am layed off, a year later my unemployment insurance has run out and all my savings are gone. Couldn't make my house payments so my house is gone too now.

Current state renting, making $12.50 an hour in a service sector job at part time 32 hours a week, had to take that job even though I have a university eduction because of pure desperation.

That is under employment, and as long as that sits at 25% America will never recover. If all a person can afford is food and shelter, the don't really contribute to the rest of the economy, do they?

OP gave me a good laugh...but in all seriousness our situation is really not funny at all, at least people are trying to think positive.

Sure some small pockets are doing okay, my own job 'sector' (EMS) isn't really doing that bad right now at all. Its whats coming down the tunnel that scares me. You have to look at the whole picture.

Here are some other charts and analysis on the employment data (they match pretty much with what others have posted here) Employment: You're SMOKING Green "Shoots"

Also: August Steel Imports Plunge 76% Annually, hit record low

Now we'll look at this recent local article, which is local to the area in which I live.

Watertown, N.Y., Sales Tax Revenue Falls Short

At this time last year, sales tax revenues had fallen $378,918 short of the city's projection, according to projections compiled by the city comptroller's office. The city fell short of its $15.8 million sales tax budget last year by about $1.3 million. "If in October, in about two weeks, we find out that sales tax is down, we'll be looking at cuts. That's where we're heading," Mrs. Corriveau told the council Monday night.

Now, you can find reports about the falling tax receipts from almost every city, county and state (not to mention the horrendous shape states like California, and NY are in).

So with all the NEW people out of jobs, and more and more people out of jobs every month what do you think is happening with these tax reciepts? Whats going to happen to anything that is government/state funded?

What happens when everyone in the city that you live in (God help you if its a big one) looses their food stamps?

Sure, they will keep 'kicking' the can along for as long as they can...but I think the 'game' is just about up.

But hey, if you want to keep thinking positive about it, well..maybe that's not a bad idea

This isn't just a jobless recovery but its a recoveryless recovery as well. Listen, the days of excess are on the way out. America has peaked and the greed is going to bring us to our knees. The current administrations job is to try and make everyone feel ok about things, that's what politicians do. They need to hold everything together for as long as possible. I would be willing to bet that if we got a complete audit of the private fed corporation that our financial system would collapse immediately. The politicians and banksters are holding the markets up. The banks are going to slowly release the houses that have been foreclosed on so that we can't buy houses too cheap. They don't want us out of debt you know! JP Morgan and Goldman Sachs can pretty much keep our markets afloat with all the money from the feds printing presses. They have deals set up with other foreign central banks to buy our debt so that we don't have a failed treasury auction because that we be the end of the charade. I'm glad some of you believe we're recovering. Put all your money in the stock market like the MSM tells you to. But a few questions for all you recovery peeps, if we're recovering why are interest rates still at 0%? Why is this a jobless recovery? (which is the dumbest thing I have ever heard btw) Why is unemployment still skyrocketing? Why is China telling their population to buy gold and silver for the first time in their history? I can go on and on. Good luck everyone but we ain't recovering. We got way more pain to go. I recommend putting about 25% of your savings in either gold or silver because the printing presses can't be turned off now or the US will go BOOM!
China and Japan know what helicopter Ben is up to and we depend on them to fund our country. We are in some perilous times people!

[edit on 2-10-2009 by all4freedom]

Yes, but there is an upside to the bleak employment picture. Toys R Us is hiring 350 seasonal employees.





To help unload the truckloads of "Lil Sally Homeless" dolls.

Unfortunate we are in deep dodo and it’s only going to get deeper.
Spending more stimuli will mean more borrowing.
Nobody in their right mind will lend us money.
With increase taxes on dividend and capital gains from eliminating the Bush tax cuts
there is no incentive to risk investing your money in companies.
There is little Volume in the number of trades being made in the market.
People that have money are neither investing nor spending. No reason to.
They are going to Rio to chill out.

Those of means, CEO's and the upper crust are selling their stock options in droves.
You know; rats and sinking ships. Google it and you will see major players are cashing out.
They know the game ended, and they will flee to other lands with their wealth.

Just imagine where we could be today if we took the 700 billion dollars of "our"
tax revenues and redistributed it to the people instead of the banks.

Some people would have deposited it into the bank for savings(banks become solvent)
Some people would spend it (sales and manufacturing increase)
Many would have paid off their debt (banks again win)
And some people would invest it (stocks and bonds we all gain)

But Nooooooooooooooo!

We keep our people locked in financial slavery and force them into financial ruin.
The Bankers get bonuses, and the system continues to crash.

I'm so angry, I could spit blood.

Originally posted by ThinkOutsideTheBuns
reply to post by HunkaHunka

Hmm… Those with viable, credible input I implore you to correct and enlighten me, but in my research and observations I don’t really see how the econ can recover. As posted here by others if one understands the federal reserve and how banks create money out of thin air, it seems pretty obvious the limit has reached the end and there is no more credit line.

Always look for the game changers.

It's called hyperinflation buffeted by new innovations.

It's happened before, it will happen again.

What many seem to forget is that capitalism is based on subjectivity. There is no real intrinsic value to something, if you think there is, you are a marxist. Value is a completely subjective phenomena and it is at the foundation of all capitalist markets...

Change the value, change the game.

[edit on 3-10-2009 by HunkaHunka]