The Dow is up, yet there are record job losses. Who's getting rich ?
A broad array of businesses across the New York region have begun eliminating jobs by the thousands as the pain of the financial crisis spreads well beyond Wall Street.
Companies as varied as Yahoo, American Express, Time Inc. and Swissport Cargo Services at Kennedy International Airport say they are preparing to lay off employees, including online ad sales representatives, magazine editors and baggage handlers, in the coming weeks.
Economists and labor-market analysts predict that the cuts will be part of a large wave of pink slips that is expected to drive up the city’s unemployment rate and strain the state’s unemployment insurance fund. In the week that ended Oct. 11 — the latest week for which data is available — New York led all states with an increase of 5,224 first-time unemployment claims.
Check out this article from the New York Times......
http://www.nytimes.com/2008/10/30/nyregion/30layoffs.html?_r...
the dow is way down
over 15,000 we start calling the dow "up"
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bailout lobbyists.
bailout lobbyists.
I think it's all going to
I think it's all going to fall apart after the elections. In my opinion, that $700B was just a bandaid to make it through election season.
And the weird trading swings are keeping the PPT very busy. But they'll get a rest after November 4th. lol
It's easy. There is a lack
It's easy.
There is a lack of sales so companies are laying off to reduce their cost of operations. The stock market itself is being flooded with new cash but that has yet to work it's way into the economy. When it does, and it will.. expect rampant inflation. Gold and Silver are cheep now get some.
all the jzneffs of the
all the jzneffs of the country think things will not get any worse!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
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My IRA lost 10k in less then
My IRA lost 10k in less then 4 weeks, the banks called in debts/margin calls and forced people to sell at a lose, while they bought up those stocks and now that the slaughter is over, the market returns to previous levels and those stocks that they bought(with the money they were suppose to lend out) when the market was down are back up and they are even more flush with cash. It was a redistribution of cash, from non-insiders to the bankers that manipulated the market and used tax payer money, that was meant to provide liquidity so they could give loans, to do it.
I suppose its the most legal way to rob people. Even if it is still criminal. They just love to steal and get away with it.
The short answer
Everyone who cut jobs is getting rich along with those people who own their stocks then dump them.
It looks better for companies to cut jobs in hard times and thier shares are raised temporarily. Once production is noticed, like after the election then they'll plummet.
http://killfiat.blogspot.com/
http://killfiat.blogspot.com/