Posted on 01/07/2009 8:53:05 PM PST by Doofer
Wow.
Good grief!
If this trend continues, we are in deep doo doo.
I know a few business owners who held out until the election. When O one they started cutting their work force. No one, with a brain, in business has ANY confidence in Obama, Pelosi and Reid. Zero zip nada.
Here is another one that is sort of positive. In the 3rd Q in Manhattan - the NY Times circulation went from 750,000 to 500,000!! I read the story three times because I could not believe it. Millions of trees will be saved if the NY Times and other lib papers DIE.
ADP numbers often vary widely from the payrolls number reported by the government that will be released Friday, though 500,000 probably would not be a surprise.
Capital is in flight my Comrades, welcome to the USSA.
Unfortunately, the recessionary spiral of downturn->layoffs->consumer spending drop->downturn has barely begun. That means things are going to get a lot worse before they get better.
Do we know what the public sector did?
I have absolutely NO confidence in this govt anymore nor Wall Street, the SEC, FBI, CIA, the newsmedia (biggest joke), public schools system, courts or SCOTUS. The Democrats do not even hide their RAMPANT corruption anymore. When the rule of law totally breaks down - you no longer have a society. yeah it is that bad.
When we had the House banking scandal - people were thrown out of office. Rangel breaks laws left and right. Fannie & Freddie looted. Obama’s appointments should all be in jail. The corruption is staggering. We are just like Russia now.
“Millions of trees will be saved if the NY Times and other lib papers DIE.”
I love it! Could we persuade a bunch of liberal protestors to start a movement to “Save a Tree! Cancel the Times!”
That would be delicious.
^^^^^^^^^^^^
700K jobs lost. That’s what we traders call an Armageddon print, folks.
I’m not too worried.
We have an illegal alien Keyan/indonesian about to be sworn in as POTUS. He is more Mugabe than Reagan. Capital will flee the USA because the rule of law no longer really exists. Corruption in govt is rampant.
And the January layoffs have started. Today, EMC Corporation announced 2,400 (7%) worldwide, with 600 of those in Massachusetts.
Here’s a list of Massachusetts tech layoffs since June:
http://www.xconomy.com/boston/2008/11/13/the-boston-tech-layoff-tracker/
(There are links on that page to layoff trackers for Seattle and San Diego.)
ADP has been grossly underestimating the last 6 months. They supposedly updated their methodology this month so we’ll see. January & February will be worse.
Probably just replacing expensive workers with Mexicans. That will make Mccain happy!!
Over a million jobs in two months.
This is going to be double digit unemployment in no time if it keeps accelerating like this. If things don’t pick up around march-april, like some are predicting, really bad stuff is coming our way.
It started back in January of last year and has picked up greatly starting in Sept. with close to 1.8 million jobs lost the past 4 months. We could see another 2.5 million inside the first 2 quarters this year but then a tapering off. I would not be surprised though if we saw close to 4 million lost in 2009.
Does anyone remember what happened July 24th, 2008 and what was said would happen following?
Does anyone know what will happen July 24th, 2009 and what will happen after that?
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