molson_golden2002 Posted October 26, 2008 Posted October 26, 2008 http://www.nytimes.com/2008/10/26/business...amp;oref=slogin As the financial crisis crimps demand for American goods and services, the workers who produce them are losing their jobs by the tens of thousands. Layoffs have arrived in force, like a wrenching second act in the unfolding crisis. In just the last two weeks, the list of companies announcing their intention to cut workers has read like a Who’s Who of corporate America: Merck, Yahoo, General Electric, Xerox, Pratt & Whitney, Goldman Sachs, Whirlpool, Bank of America, Alcoa, Coca-Cola, the Detroit automakers and nearly all the airlines. When October’s job losses are announced on Nov. 7, three days after the presidential election, many economists expect the number to exceed 200,000. The current unemployment rate of 6.1 percent is likely to rise, perhaps significantly. “My view is that it will be near 8 or 8.5 percent by the end of next year,” said Nigel Gault, chief domestic economist at Global Insight, offering a forecast others share. That would be the highest unemployment rate since the deep recession of the early 1980s.
YellowLinesandArmadillos Posted October 26, 2008 Posted October 26, 2008 http://www.nytimes.com/2008/10/26/business...amp;oref=slogin Yeh, you can see it coming...
finknottle Posted October 26, 2008 Posted October 26, 2008 http://www.nytimes.com/2008/10/26/business...amp;oref=slogin Well, we still have a long way to go before we reach the traditional unemployment levels of the European economies we aspire to. But with Obama I'm confident we'll get there.
PearlHowardman Posted October 26, 2008 Posted October 26, 2008 Well, we still have a long way to go before we reach the traditional unemployment levels of the European economies we aspire to. But with Obama I'm confident we'll get there. ...and Obama's tax policies will force companies to leave the US.
KD in CA Posted October 26, 2008 Posted October 26, 2008 ...and Obama's tax policies will force companies to leave the US. Not to mention individual wealth. Smart people are going to start moving their money offshore before it is seized by the gov't.
drnykterstein Posted October 27, 2008 Posted October 27, 2008 ...and Obama's tax policies will force companies to leave the US. ... wild assumption, or well researched assertion? You decide.
PastaJoe Posted October 27, 2008 Posted October 27, 2008 ...and Obama's tax policies will force companies to leave the US. Because Bush's tax cuts have kept so many companies from moving jobs to China and India, and has attracted jobs back from other countries...
molson_golden2002 Posted October 27, 2008 Author Posted October 27, 2008 ...and Obama's tax policies will force companies to leave the US. Yup, they will go to low tax Europe! This is going to be just like the Clinton years when his tax raises killed this economy. Just look at it! The economy is already a mess and this Obama guy hasn't even started yet! He is a total disaster! Just like Clinton!
Lurker Posted October 27, 2008 Posted October 27, 2008 An even scarier article from today's Wall Street Journal.
molson_golden2002 Posted October 27, 2008 Author Posted October 27, 2008 An even scarier article from today's Wall Street Journal. Obama is totally screwing up the economy! How much more can the country take?
YellowLinesandArmadillos Posted October 27, 2008 Posted October 27, 2008 ...and Obama's tax policies will force companies to leave the US. Where are they going to go... please, it is worse elsewhere.
ExiledInIllinois Posted October 27, 2008 Posted October 27, 2008 Yup, they will go to low tax Europe! This is going to be just like the Clinton years when his tax raises killed this economy. Just look at it! The economy is already a mess and this Obama guy hasn't even started yet! He is a total disaster! Just like Clinton! Americans NEVER learn... Just look at the "Golden Age" of the 1950's and 1960's. Americans always fall for the one way math conundrum that is this boogey man. Let them move... Just don't let them and their goods/services back into the country (of course if you can't have free flow of labor). There will be somebody to spring up and take the void that was left.
Chef Jim Posted October 27, 2008 Posted October 27, 2008 Because Bush's tax cuts have kept so many companies from moving jobs to China and India, and has attracted jobs back from other countries... And created jobs that lowered the unemployment rate to 5%. Amazing how that happened huh?
molson_golden2002 Posted October 27, 2008 Author Posted October 27, 2008 And created jobs that lowered the unemployment rate to 5%. Amazing how that happened huh? Oh, I thought Bush inherited the great economy from Clinton
ExiledInIllinois Posted October 27, 2008 Posted October 27, 2008 And created jobs that lowered the unemployment rate to 5%. Amazing how that happened huh? Ya... The rate is 5%... One is working at Wal-Mart or some other place... And your employer's management is saying with a wink and a nod: "Go to the state welfare office to "bridge the gap" because we can't pay you well enough." You mine as well have unemployment at 10-15%.
Chef Jim Posted October 27, 2008 Posted October 27, 2008 Oh, I thought Bush inherited the great economy from Clinton No he inherited a burst tech bubble and recession.
bills_fan Posted October 27, 2008 Posted October 27, 2008 I thought you were talking about the impending currency crisis in Europe...the bursting of the emerging credit market bubble (much bigger than US housing). The real other shoe... http://www.telegraph.co.uk/finance/comment...s-meltdown.html
ExiledInIllinois Posted October 27, 2008 Posted October 27, 2008 No he inherited a burst tech bubble and recession. And he kept on putting air in the housing bubble, then there was the "let's go to war bubble"... Take all the down turns and burst bubbles you want, the poor sap Bush was SOL because things literally began "hitting home." Bush is like the parent who let's their child run wild at the mall... Sure it all fun and games and little Johnny gets to blow off some steam... And boy he sure looks cute! But, there are times when the parnet has to play "heavy" before little Johnny ends up in the ER with his face blown off... The Republicans don't get that role in Gov't... And of course the "children" keep on electing them on the "run free and die" platform.
Chef Jim Posted October 27, 2008 Posted October 27, 2008 And he kept on putting air in the housing bubble, No the Dems did that with their cheap homes for everyone plan.
YellowLinesandArmadillos Posted October 27, 2008 Posted October 27, 2008 No the Dems did that with their cheap homes for everyone plan. Oh okay, blame the Dems... Typical Republican. The Dems said go in and make loans if they are credit worthy, stop redlining, do your job.
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