Putting pressure on an already lousy job market, the mass layoff is making a comeback. In the past week, Cisco, Lockheed Martin and Borders announced a combined 23,000 in job cuts. (See:Another Retailer Bites the Dust: Borders Doomed by Amazon Deal, Davidowitz Says)
Those announcements follow 41,432 in planned cuts in June, up 11.6% from May and 5.3% vs. a year earlier, according to Challenger, Gray & Christmas.Winning the future...
Speaking at a fund-raiser for the Democratic National Committee in Massachusetts she told of his total dedication to the job and told how she worries about the increasing number of lines on his face.She needed to use a teleprompter for that?
“My job over these first two years has frankly been to clean up a big mess,” Mr. Obama said at a $10,000-per-ticket event at a gated mansion in Miami Beach. “We were able to make sure we yanked an economy out of what could have been a second Great Depression.”And a fine job he did to.
In February 2009, the Bureau of Labor Statistics (BLS) reported that 141.7 million people were employed. By the end of May 2011 – the last month for which data are available – that number had fallen to 139.8 million, a difference of 1.9 million.The numbers tell a different story...
Politics virtually guarantee that the global economy won't go into crisis in 2011. Politics make it extremely unlikely that the global economy will slow down as much as the market seems to fear. Politics, in fact, put a safety net under the global economy this year.
And politics also virtually guarantee another, deeper crisis in 2012 or 2013. I'd bet 2013.We can't have a total meltdown until Barry leaves office now can we?
By 2013, no matter how the election goes, the Federal Reserve will be under almost unbearable pressure to reduce its balance sheet and raise interest rates. That's when global bond markets will really pressure the United States to come up with a plan -- at the least -- for reducing its budget deficit over the long term.My gut says it will be before 2013...
The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.
"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.
"When the problems arise next time…what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around.All on three now...Barack Hussein Obama mmm, mmm, mmm!
There are several reasons why I’m convinced Obama is bound to lose the 2012 election. To begin with, the curtain has been pulled back on the Wizard of Malarkey, and millions of suckers have seen with their own eyes that “Hope and Change” was just more of the same old political hokum. And in 2012, Obama’s campaign won’t have the historical significance that it did in 2008, when he was campaigning to be the first black president in U.S. history.
About 6.2 million Americans, 45.1 percent of all unemployed workers in this country, have been jobless for more than six months - a higher percentage than during the Great Depression.How can any fair minded person with an IQ over 9 not call this a failure?
Squeezed on both sides by stagnant wages and rising prices, consumers believe the chances of bringing home more money one year from now are at their lowest in 25 years, according to analysis of survey data by Goldman Sachs.The squeeze is far from over....
Real hourly wages have dropped 2.1 percent on an annualized basis over the past six months, a rate of decline not seen in 20 years, according to Goldman.Welcome back Carter....
“I am much more concerned that the second half resurgence we all expect never arrives and by early 2012 we are in a recession,” said Joe Terranova, chief market strategist for Virtus Investment Partners and a ‘Fast Money’ trader.And it only took a few trillion in new debt to accomplish this....
Stocks plunged, losing more than 1%, as disappointing manufacturing and jobs data triggered concerns about the health of the recovery.There is no recovery, there has been no recovery, there will be no recovery until Barry is replaced....
"Higher gasoline may be making potential home buyers a bit cautious. It is signaling further weakness in housing, but we do expect housing to turn around later this year. It just hasn't happened yet."Its always good to stay positive...I guess.
But there’s a catch. The quality of the jobs the U.S. is creating right now in terms of pay, benefits, hours, and skills leaves a lot to be desired. The problem is not only the depth of the recession and the sluggishness of the recovery. It also reflects the changing structure of the U.S. economy, as more manufacturing operations shift to overseas locations, while service businesses, which often pay much less, take a more dominant role in job creation.The tax code in this country encourages companies to manufacture overseas, couple that with overpaid union wages and we have a McDonald's economy. Not to disparage Mickey D's, I personally dine there on occasion, but those jobs are not meant to sustain a economy.
U.S. GDP growth sunk to 1.8 percent annual rate in the first quarter of 2011 after a 3.1 percent fourth quarter rise. Weekly claims for U.S. jobless benefits “unexpectedly” jumped to 429,000 in the April 23 week.
Some 57 percent of registered voters said they disapproved of Obama's economic management, while only 40 percent approved. That's the lowest score of his presidency.
Economists had expected GDP to rise at a 3.5 percent rate after expanding at a 2.6 percent pace in the third quarter, but the composition of growth gave the report a robust tenor.If Government would get the hell out of the way, stop spending, and de-fund that POS Obamacare think where we would be.
Republicans argue tax cuts must be made permanent for everyone to avoid sapping spending while the economy is still weak. They also say Congress should have a plan to pay for the estimated $65 billion cost of extending jobless aid, in order to avoid adding to the country's high and rising debts. Three weeks before Christmas, Biden stressed it was not the time to sever support for those in need.This young lady has a great post on other idiots who think like Joe.
"Cutting unemployment insurance is not only not smart, it's not right either," Biden said. "That's no message to send in the season of hope."
