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Job Losses Probably Eased in December: U.S. Economy Preview

highway star

highway star

Veteran Expediter
Owner/Operator
When you see words like "probably" and "almost" used, why even pay attention? Put 10 economists in a room and you'll probably get a dozen different opinions on what's gonna happen. I wonder what Larry the Cable Guy thinks?
 
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aristotle

Veteran Expediter
Slowing job losses reflects the fact we are dealing with fewer jobs still existing. We witnessed massive layoffs in 2007-2008 in manufacturing, construction and retail for example. Thousands of companies and millions of individuals were living on credit... credit that dried up as banks tightened lending policies. Without easy credit, individuals saw foreclosure on homes, cars and small businesses. These individual failures began cascading into widespread corporate losses.

Remember how the federal government scared us all to death in September 2007 with doomsday talk? They came before the American public in panic mode stating we had to go along with widespread emergency reform of our financial systems. The government told us we had about 72 hours to avoid complete financial meltdown... they demanded the original stimulus bill be passed immediately. I don't know if these stimulus bills have made things better or worse. I do know the federal government has shaken the peoples' trust in our institutions.

Correction: September 2008... not '07
 
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OntarioVanMan

OntarioVanMan

Retired Expediter
Owner/Operator
Our bank out here wants 100% collateral PLUS 25% over and above...boy I'd have to mortgage the wife as well...

If I had that type of money I wouldn't need the loan to begin with...
 
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aristotle

Veteran Expediter
The problem is larger than just job losses. Many households are dealing with wage cuts and reductions in benefits. Pension plans are on shaky ground in many instances. The next generation might not enjoy the same standard of living as their parents. It will be quite difficult for young families to purchase a home. Real job security can be found in government employment. For the private sector, it's ugly out there.
 
chefdennis

chefdennis

Veteran Expediter
Sure the job losses look less then they think, until later when they "revise" the numbers (as they do each month from the previous released number) and it will be worse then stated, but buried on page 7 of the 3rd section under the funnies.......:rolleyes:

The gov has been lying about the number of job losses since this started in 2007...hell they won't even report their own U6 numbers.....which is about 16% and now there is talk that they are understating the numbers as bad as 30%.....barry wants to continue the extensions of unemployment forever, its another form of "Government Stimulus"......
 
greg334

greg334

Veteran Expediter
Take construction jobs out of the equation altogether, they are incorrectly counted and have been the crux of the need to throw money into the economy.

The more recent indicators that have been used are even way off, the job improvement of the poster child of the economy "Elkhart Indiana". With the claim fame where Obama had opened his "must do something" program, they boasted a 16% unemployment rate (that is 8% less than Detroit) and now it is something like 14% (or 12 depending on which cooked numbers you want to use).

With over 25% unemployment in Michigan cities, we don't see real improvements anywhere outside of heavely subsidized auto companies.
 
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