What I find really interesting is that so many people talk about the economy getting better. I’m not so sure about that. Sure the numbers seem to be creeping north, but, something doesn’t seem right. I speak from experience.
I was laid off from CSX Railroad earlier this year. I was in the first batch of 1000. Around 1300 more followed. The new CEO, said to expect at least 700 layoffs before the years end. When he’s done, he’ll trim the headcount down about 10-15% to boost the profit margins. Sad, that the railroad was going to lose/turnover, about 30-40% within in the few years due to retirements. I guess Wall St and Paul Hilal couldn’t wait that long. And the company had a record profits last year.
After talking to friends and family, I find it interesting that so many people that I know, know so many that are losing jobs due to layoffs/cost cutting. It would appear that the shareholders/stockholders mean more, than the people doing the actual work. It’d be great to see one of the big shareholders of CSX get in a locomotive and get it moving down the track or weld some rail together in the dead of winter. So, at the end of the day, I’m not seeing things as rosy as others, but that’s my problem, not anyone else’s.
The “new” economy and it’s enablers, with corporate welfare to guys like Musk, to corporate welfare to Wall St, the big banks, obamacare, insurance companies, refugees, illegals, etc etc etc, are destroying this country from the inside. Housing is becoming more unaffordable, as the developers/builders with their cheap labor from Mexico, don’t pay as much, but they charge more for their products. Which, more often than not, have lots and lots of problems, right after the home warranties run out.
The only thing that could destroy this country is rot from the inside. And the cause of that rot can be pinpointed to 2 places: Washington, DC and Wall St.
Railroads are dying. Natural gas is replacing coal. Coal is shipped by rail. Gas is shipped by pipelines.
Find a job in the growing gas industry
I too was laid off after 15 years and agree the economy isn’t getting better it is being uplifted through job cuts, record profits due to said job cuts and then leadership “talking up” the state of the economy. The so called strength is fake and will be uncovered soon enough. Make no mistake this supposed recovery is smoke and mirrors. But I’m certain there will be cheerleaders come right along to correct you and I.
Worst 2 years for my 12 year old company selling machines to manufacturing companies. Why invest in your manufacturing company when you can get a better return on Fraud Street? The money is not circulating throughout the economy. 9 years of the money going to government and Fraud Street. Also read that in NH that:
Census data showed companies with 250 to 499 employees added 10.3 percent more jobs between the second quarter of 2011 and a similar period in 2016. Firms with at least 500 employees grew by 9.9 percent compared to 8.1 percent for all size firms.
The slowest job growth occurred in companies with 19 or fewer workers, with a more modest 4.1 percent.
Around 2010, I was offered a gov’t job in DC. I accepted. To be honest, I’d never been to DC in my life.
So I arrived. I was there for 1,273 days (yes, I counted). There’s not a single day that something of an unusual, or corrupted, or screwed-up episode did not occur. Around the clock....24 hours a day....it amazed me over the amount of screwed up episodes that occurred. Some involved government operations...some involved murders or shootings in DC....some involved nutcases....some involved the city metro-system.
My impression is that DC is dying...literally passing away as we speak. I reached some point where I just said enough, gave notice, and finally retired (leaving the area). About three months before I left....some some-time businessman who had a jewelry shop on the main drag about half-a-mile from my apartment. Mid-day....some guy walked in and shot the owner dead. No worry about getting caught or seen. It’s an attitude that exists around all of the region...they are all doing some wrong, and don’t worry if they get caught. Even the Senators.
No, it’s getting better, fast. We post 4-5 local expansions here on FR every day. There are cranes building everywhere. The #s are real.
You are right. Just think of all of those investors, 401ks, IRAs, mutuals invested in these companies. Who isn't leveraging their retirement with the stock market anymore?
I track the trucking industry pretty closely, and it seems to be doing OK overall but there's always room for improvement.
I concur with the statement and would like to add that DC and Wall St. have strings that go beyond our shores. As another previously stated, things are not right and something has to give. Cheap labor and the bottom line rule the day. We are becoming peasants of servitude to 1% masters and indebted for generations until the house of cards collapses.