But the asshat in the White House said we have pulled back from the cliff!.....Could he be a liar?
All it takes is one major crisis... currency crisis... defaults... or a major war... and BOOM!! And watch the giant house of cards collapse like there is no tomorrow...
Invest with one hand on the trigger to sell...
All of those profits are due to cost cutting. The unemployment situation is what will drive the next phase of this collapse. We have a whole class of graduates that has not found employment, half of last year’s still haven’t and in the meantime experienced employees have been laid off with nowhere to go.
As long as the fear of unemployment is the albatross that hangs over the economy we will not be pulling out of this one. No different than the 70’s or 30’s.
As the author suggests: this is not good news for us, the workers and We must REMEMBER this when we hear the obamanation say that things are going well, because:
“1) First, companies have been profiting because they can cut costs . It’s not as if demand has picked up. Take Starbucks, which reported a surprising surge in profits. Little of that was due to American consumers suddenly becoming comfortable with $5 grande mocha lattes. Instead, it was because Starbucks—faced with weak demand and sluggish sales—closed stores and laid off workers. That has been a trend across industries.”
and
2) larger companies are profiting because they can focus on where the growth is around the globe. Companies such as Intel, Caterpillar, Microsoft and IBM now derive a majority of their revenues from outside the U.S. Companies are thriving in spite of economic activity in the U.S., not because of it.
waiting for the axe to fall bookmark.