The economic numbers that came out today are bad ... real bad.
Job losses announced today--over 50,000!!!
White collar, blue collar, or no collar the axe-men is looking to chop your head off. Massive lay-offs across all sectors of the economy in all income strata: Cat laying off 20,000, Home Depot 7,000, GM 2,000, Sprint 8,000, Phizer 8,190, IBM 2,800, Texas Instruments 3,400. Some economist are whispering that the national unemployment rate for 2009 might reach 9 to 10 percent. On the housing front, home price data indicates that were down 25 percent from the peek in 2006 in terms of home prices. And last but certainly not least, the January consumer confidence index hits a record low...(37.7).
Who would have thought, a deteriorating economy eroding consumer confidence...go figure.
But lest we despair, there is some good news to be found. Even though the job losses are rather glum, there is a ray of light at the end of tunnel. We can be all thankful that 9 out 10 of senior executives that were at the controls of the banking system which had to be bailed out still have their jobs and are hard at work figuring out how to spend the $825 Billion stimulus package coming down the pipe!
Capitalism hard at work...who could ask for more?
Job losses announced today--over 50,000!!!
White collar, blue collar, or no collar the axe-men is looking to chop your head off. Massive lay-offs across all sectors of the economy in all income strata: Cat laying off 20,000, Home Depot 7,000, GM 2,000, Sprint 8,000, Phizer 8,190, IBM 2,800, Texas Instruments 3,400. Some economist are whispering that the national unemployment rate for 2009 might reach 9 to 10 percent. On the housing front, home price data indicates that were down 25 percent from the peek in 2006 in terms of home prices. And last but certainly not least, the January consumer confidence index hits a record low...(37.7).
Who would have thought, a deteriorating economy eroding consumer confidence...go figure.
But lest we despair, there is some good news to be found. Even though the job losses are rather glum, there is a ray of light at the end of tunnel. We can be all thankful that 9 out 10 of senior executives that were at the controls of the banking system which had to be bailed out still have their jobs and are hard at work figuring out how to spend the $825 Billion stimulus package coming down the pipe!
Capitalism hard at work...who could ask for more?
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1 comments:
My solution FIRE THE CEO'S that still have jobs thus saving some money & start putting blame on those that caused this mess. The greedy CEO's...
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