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Old 01-04-2008, 09:16 AM
 
Location: wrong planet
5,161 posts, read 11,398,157 times
Reputation: 4336

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Jobless rate hits 5 percent, 2-year high - Yahoo! News (broken link)

Is this just a beginning?
What is the real percentage of those unemployed, since those number don't contain

- longtime unemployed
- independent contractors
- part time workers
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Old 01-04-2008, 12:15 PM
 
Location: America
6,993 posts, read 17,300,486 times
Reputation: 2093
Quote:
Originally Posted by katzenfreund View Post
Jobless rate hits 5 percent, 2-year high - Yahoo! News (broken link)

Is this just a beginning?
What is the real percentage of those unemployed, since those number don't contain

- longtime unemployed
- independent contractors
- part time workers
lets do the math:

Sub prime market = failure

Prime Market = showing signs of hemorrhage

Cost of essential goods like food going up

Maybe on the verge of recession (we might already be in one)

So naturally lay offs are going to start to top up. Will it get a lot worse? Some say yes, some say maybe. Time will tell, just try your best to secure your situation. Might want to think about having Plan A, B and C just in case things get really bad.
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Old 01-04-2008, 12:26 PM
 
Location: Houston, Texas
10,447 posts, read 49,510,410 times
Reputation: 10614
Even more math:

The housing bust has caused layoffs so deep they have not even been counted yet. Probably can not be counted. Everything from mortgage brokers, real estate sales people, home inspectors, title companies, pest control people, all areas of construction people. This list goes on and on and on.

This recession will soon turn to a DEpression.

Salaries will never again go up unless you work for govt. Today only the best companies are tossing a bone like a nickel or a dime an hour once a year to the poor wage earner.

More and more workers are losing their health benifits so either they will choose to stay sick and possibly die or take a chance and get treatment that will send their family into bankruptcy whereby they will lose everything.

Families today are spending $300-400 a month to put gas in their car. No more extra play money to take the family out to eat once a week. Which also hurts the restaurant industry.

The rich will get richer and the poor will die a slow death.
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Old 01-04-2008, 12:41 PM
 
Location: Londonderry, NH
41,478 posts, read 59,526,017 times
Reputation: 24856
I think this will devastate the poor and working people and pinch the wealthy really hard. Add to all of the above the collapse of “take out the equity spending” and unavoidable cuts in military contracting (like canceling all of the guard contracts with Blackwater et al) and unemployment will hit the 15 to 20 % level by the end of this year. The only segment likely to find more work will be credit card bundlers and bankruptcy lawyers.

We are about to have a lot of fun at our economy’s wake.
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Old 01-04-2008, 12:43 PM
 
Location: wrong planet
5,161 posts, read 11,398,157 times
Reputation: 4336
I just got off the phone with a friend of mine who is a CPA, she works for 2 businesses. Both of them are in financial trouble. One makes furniture and cabinets. the other is a contractor. The guy that is currently redoing our hardwood floors says he has gone from 6 full time employees to 1 or 2....

The average worker is making less money each year, after you adjust for higher, gas, heat, food etc. so I am expecting things will get worse. Not to mention all the local taxes have gone up too.
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Old 01-04-2008, 01:10 PM
 
Location: America
6,993 posts, read 17,300,486 times
Reputation: 2093
I have said in other threads, I want a lot of people in this country to suffer. After reading this, my heart goes out to the people who are going to be going through this hell. With that said, I still want certain types to suffer. Those who never gave a darn about their fellow American, the "pull yourself up by your boot strap" elk. That is the only way this country can change, when enough people suffer so much so, that they start to see and understand the hardships their follow country men face.
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Old 01-04-2008, 01:23 PM
 
Location: Londonderry, NH
41,478 posts, read 59,526,017 times
Reputation: 24856
Now add the unemployed truck drivers and longshoremen as the China trade collapses and the Wal-marts are empty of customers and nobody can afford a movie. Nobody will be able to travel with $4 a gallon gasoline or expensive jet fuel. I guess everyone will have to stay in his or her unimproved McMansions and stare at the TV.

Wild side - I agree with your sentiment but the people that need to suffer have stored enough loot to ride out any economic disaster that does not take the rest of the world with us. This, however, is a possibility. After all, just who are the Chinese going to sell their stuff to? The Europeans? Not likely. Themselves? Possibly.

I figure out World Empire has cost us more than we expected or can afford. Even when you own the printing presses the odd gods of finance will make certain the piper gets paid. Always has, always will.
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Old 01-04-2008, 01:43 PM
 
708 posts, read 928,491 times
Reputation: 364
Smile Employment & Policies

In their typical attorney style members of both parties assure us that the loss of millions of American jobs is a normal occurance of a healthy modern global economy.
What they omit is the source of their info which is basically business bought think tanks and management consultants.
They promise the end result will be a higher standard of living at home and globally as well. Let us examine objectively how this scheme er ah plan is progressing.
Forrester Research estimates that 136 billion in wages alone will be taken from US workers and transferred to lower wage countries by 2015. These are not just manufacturing jobs etc. also included is 3.3 million white collar service jobs. The free trade at any price zealots assure us that jobs will be replaced by the tech industry--however they neglect to tell us when how and which industry has the capacity to absorb massive numbers of personnel.When pushed they will cheerfully recite the jobs having the highest demand in the next decade--waiters and waitresses--janitors and cleaners--food preparers--nursing aids orderlies and attendants--cashiers--retail salespersons--RN's--post secondary teachers. Only 3 of these positions require a college degree. Fortunately some can't be outsourced.
Some would have us believe this is the mod, intelligent and wave of the future way to go. Those of us familiar with higher level business minds know this to be an old twist which is only a more sanitary way to defraud. If the us would prevent those companies who move to foreign shores from selling their products back to our US consumer base the bunko would disappear--fast. With our politicians in bed with big business lobbiests we are pretty much hamstrung--and they know it! Ah yes, promote the general welfare!
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Old 01-04-2008, 01:52 PM
 
Location: Pinal County, Arizona
25,100 posts, read 39,115,994 times
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Quote:
Originally Posted by GregW View Post
Now add the unemployed truck drivers and longshoremen as the China trade collapses and the Wal-marts are empty of customers and nobody can afford a movie. Nobody will be able to travel with $4 a gallon gasoline or expensive jet fuel. I guess everyone will have to stay in his or her unimproved McMansions and stare at the TV.
So Cynical - I feel sorry for you Greg

Truckers are truckin'. Cargo is high. WalMarts are not empty of customers.

As for driving - won't make much of an impact. Airlines have some of the highest load capacities ever. Prebooks for summer vacations are high. I'll take the boat out. Take trips in the Motorhome.

You would probably call our home a "McMansion" Greg and I can assure you, it is improved - even as we break ground on the new home

Life is great Greg. Get out and enjoy it.

Have a Greatday
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Old 01-04-2008, 01:52 PM
 
Location: Londonderry, NH
41,478 posts, read 59,526,017 times
Reputation: 24856
I expect major growth in the profession of soldier. The investors perpetrating this fraud will want their overseas investments to be protected from local democratic elements. Maybe they could just hire local mercenary forces to save money by not paying US military wages. Maybe they will use their mercenaries to invade the US if we don't go along with the scam. Anything is conceivable. Some things are possible. Some likely.
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