Archive for the 'Layoffs' Category

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(EconomicCollapse) – Thousands of police officers have been laid off all across America since the current economic crisis began.  Thousands more are getting ready to be laid off.  So could we be on the verge of a new era of chaos and anarchy in America as crime runs wild and there are just far too few police to respond to it all?  That is the message that one blood-smeared billboard in Stockton, California is trying to get across.  Paid for by the Stockton, California police union, the message of the billboard is chillingly clear: “Welcome to the 2nd most dangerous city in California. Stop laying off cops.�?  As state, city and local governments across the United States continue to be devastated by the ongoing economic crisis, budget cuts are becoming much deeper and police forces have suddenly become a very popular target. Read the rest of this entry »

(KurtNimmo) – Forget about police assistance in Oakland, California.

“Oakland’s police chief is making some dire claims about what his force will and will not respond to if layoffs go as planned,�? reports NBC Bay Area. “Chief Anthony Batts listed exactly 44 situations that his officers will no longer respond to and they include grand theft, burglary, car wrecks, identity theft and vandalism. He says if you live and Oakland and one of the above happens to you, you need to let police know on-line.�?

In other words, if you live in the Bay area, you need to have a gun and plenty of ammunition. Because the cops just said they will no longer respond if criminals kick down your door. The bad guys no longer have anything to worry about. Read the rest of this entry »

Here are closing stores, restaurants, layoffs etc just in the last few days! I’m sure the readers here are familiar with some of these businesses. Click on the links. Comments on “Green Shoots”?

Johnnie Walker’s Men Store in Milwaukee Wisconsin
Pipkin Cameras and Imaging Store in Oklahoma City
Allain Gallery in Richmond Virginia
Stone’s Throw Golf Course in Newton Ill
Glacier Ice Arena in Grand Junction Colo.
Maumee 18 Theater in Maumee Ohio

Eccentrix in Joplin MO
The White Pine Copper Refinery
3M to Close Ardmore Plant – 125 Jobs Lost
Provincetown High School in Mass.
B&G Golf in Brookfield
Update: Taylor Sawmill in Enfield ill
Pages New and Rare Bookstore Arizona
Select Medical Corp Manchester MO Facility – 66 layoffs
Caye Upholstery, Closing 2 NC Facilities – 160 Jobs Lost
Ripley County Fair NY
Blockbuster in Oak Ridge Tenn.
The Hubbard BMV in Ohio
The Golden Corral Buffet & Grill restaurant on Seminole Trail VA?
Update: Ken Lee’s Gallery 11 in Steamboat Springs

Hillsborough County FL – 200
Brown University Bookstore RI – 8
Lucas County Sheriff’s Office OH – 16
La. Department of Education – 31
Exempla Healthcare – 100 Position from Hospitals in Denver
Boeing – Lost of Constellation Funding Could = 180 Layoffs
City of Romulus – 32 Layoff Notices
Burke County Public Schools NC -  70
Middleboro School District – 30
Marian Community Hospital – 26
Cinram – 482
The Siena Hotel Spa Casino in Reno – Eliminating Table Games = 35 Layoffs

(Money&Markets) – China’s Currency Manipulation: About to Cause a Global Explosion? – Read More Here

(Guardian) – UK’s first ‘conservation credit’ scheme launched – Read More Here

(Fox) – Video: Freedom Watch – Who Owns the Gold in Ft. Knox?

Ludvig von Mises Institute Chair Lew Rockwell on auditing the Federal Reserve

(CNBC) – Video: Steve Wynn Takes On Washington

Steve Wynn, a casino resort/real-estate developer who has been credited with spearheading the dramatic resurgence and expansion of the Las Vegas Strip, talks about the Fall of America. Video Link Here

(GlobalResearch) – The European and U.S. Economies: Falling Dominoes – Shamus Cooke

Attempting to fix an unfixable problem can create new problems. Why is the global economy unfixable in the current context? For one, the cause of the depression is never mentioned in the mainstream media or politicians. And when a disease is misdiagnosed, a prescribed medication creates new afflictions.

Massive, bad debt is often cited as the cause of the global depression, but whythis debt existed in the first place is never discussed. Quite simply, the debt was needed to buy the products of corporations that wages once consumed. Over time, corporations drove down wages to out-compete each other while driving up profits, creating the global “demand�? for credit, which the banks are now demanding be paid back. Read More Here

(BitsOfNews) – Pol/Econ: Deregulation and the Triumph of Wall Street

One year removed from a catastrophic, global, economic meltdown, and 26 months removed from the start of the credit crisis, our political establishment is either unwilling or unable to reform the system and punish the perpetrators of this debacle. The situation is so far beyond the pale that it makes one wonder if another catastrophe is even avoidable. Read More Here

(ZeroHedge) – Europe: A Continent Of Lies And Broken Promises; How The EU Elite Got It Wrong On The Euro – Tyler Durden

Openeurope.org.uk has put together a paper of the most blatant half-truths, propaganda, and outright lies, abused by Europe not only over the past month, but also over the past 10 years, for the entire duration of the now rapidly collapsing eurozone experiment. Read More Here

(Bloomberg) – Dow Ends Worst May Since 1940 On Spain Debt Downgrade, Korea Tensions

U.S. stocks slid, capping the worst May for the Dow Jones Industrial Average since 1940, while the euro slumped and Treasuries rose as a downgrade of Spain’s debt rating and escalating tensions on the Korean peninsula triggered a flight from riskier assets. Read More Here

(Rasmussen) – 80% Favor Auditing the Federal Reserve

Eighty percent (80%) of Americans now agree with Congress that auditing the Federal Reserve Board is a good idea, according to a new Rasmussen Reports national telephone survey.

Just nine percent (9%) oppose an audit of the Fed, and 12% more are not sure. Read More Here

(CSPAN) – Video: Moonbat Bachmann complains about $2 billion for raises for Americans – says we can’t afford it

Wait a minute – don’t we pay FAR more every year to a foreign terrorist country that has attacked us?

She doesn’t hesitate repeating the neocon lie about government workers making more than those in the private sector. She does not compare those with the SAME position as she claims – she uses “averages.” Well, government does not hire burger flippers. It is the new attack on the Middle Class – government workers are that, by and large. Video Link Here

(Examiner) – Ellen Brown: US economic reform creates full-employment, renewed infrastructure, zero national debt

Attorney and author of the brilliant Web of Debt, Ellen Brown, is among the leading US advocates of monetary reform and state-owned banks. Among Ellen’s articles is one worth highlighting for how quickly a national economy can turn from ruin to astounding productivity: Nazi Germany’s direct creation of money to pay for public goods and services. Read More Here

(PostGazetta) – Port Authority warned of layoffs, route cuts without more state aid – Read More Here

(RedactedNews) – Insider Trading Is Perfectly Legal – But Only For Members Of The U.S. Congress – Read More Here

REPOST – (CNBC) – Dollar Primed for Collapse by End June: Charts

The dollar’s recent strength has been explained by most market analysts as a result of the euro weakness rather than any fundamental support for the greenback. In fact, a closer look at the dollar’s chart – particularly the dollar index – suggests the currency may be primed for a collapse. Read More Here

(Money&Markets) – Credit Crisis Indicators Going Bonkers Again! Batten Down the Hatches!

Heads up people. Something very big is happening in the global credit markets — something you darn well better pay attention to. Read More Here

(EconomicPolicyJournal) – It’s the Bailout of the Banksters Before Greece Is Taken Down

WSJ has a remarkably to the point story explainning why Greece will end up restructuring, but that there will be a delay until the banksters are protected: Read More Here

(Boston) – Romania to cut wages despite strike threat

Romania will go ahead with sweeping wage, pension and benefits cuts despite unions’ threats to stage a general strike, Prime Minister Emil Boc said Wednesday. Read More Here

(DSNews) – Federal Reserve’s MBS Purchases Could Lead to Record Earnings of $70B – Read More Here

(TheEconomicCollapse) – The Depression Of 2011? 23 Economic Warning Signs From Financial Authorities All Over The Globe

Could the world economy be headed for a depression in 2011?  As inconceivable as that may seem to a lot of people, the truth is that top economists and governmental authorities all over the globe say that the economic warning signs are there and that we need to start paying attention to them.  The two primary ingredients for a depression are debt and fear, and the reality is that we have both of them in abundance in the financial world today.  In response to the global financial meltdown of 2007 and 2008, governments around the world spent unprecedented amounts of money and got into a ton of debt. Read the rest of this entry »

(IND) – China’s gold rush ‘will be stampede by 2020′ – Read More Here

(NYTimes) – Stocks Soar, but Many Analysts Ask Why

The unemployment rate remains locked in a range that recalls the economic doldrums of the early 1980s. Housing is stuck in a ditch, with foreclosures rising. And consumers are still reluctant to part with the little cash they do have. Read More Here

(NorthJersey) – Cash-strapped states using income audits to get funds

State audits on income and sales taxes for the smallest businesses as well as out-of-state inquiries on operations in other states are on the rise, accountants say. Read More Here

(BusinessInsider) – There Are No New Taxes Coming In America…. Except The Massive One That Will Sock The Economy In The Gut – Read More Here

(ContrCostaTimes) – Chiang: Worst yet to come for California budget crisis

State Controller John Chiang said Monday the worst of California’s budget crisis is still to come. Read More Here

(NYTimes) – State Debt Woes Grow Too Big to Camouflage

California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink — budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired public workers who are counting on benefits that are proving harder and harder to pay. Read More Here

(InfoClearingHouse) – Eighteen Million, Out in the Road

How cold and callous can we become? When, as a society and as a nation, we can undergo a massive earthquake under our very feet and before our very eyes, how can we just ignore its victims? Read More Here

(InfoClearingHouse) – Video: Tent Slums Spring Up in America

Concentrations of homeless people are nothing new in America, but recent BBC and Los Angeles Times reports depict a rising trend of shanty slums, such as a “city” of newly homeless people living in tents near the Ontario airport in Los Angeles. View Video Here

(InfoClearingHouse) – Workhouse Nation – The Plight of Mass Unemployment in America. What are the Causes? Read More Here

(WickedLocal) – Bay State foreclosures up 13.8 percent

Completed foreclosures in Massachusetts fell 19.6 percent in February, compared to January, but were 10.4 percent higher than in February 2009, according to data released Thursday morning. Also, foreclosure deeds jumped 13.8 percent to 2,058 in the first two months of the year from 1,809 during the same period in 2009, the Warren Group reported. Read More Here

(CBS2Chicago) – Report: 20,000 Illinois Teachers Could Lose Jobs

9,800 Teachers Are Already Out, Many More Layoffs Are Planned Read More Here

(AP) – IN could see new wave of foreclosures

The number of Indiana mortgages that were 90 days or more overdue jumped to its highest level in more than a year in January, a statistic that has many fearing a surge of home foreclosures in 2010. Read More Here

(FortWorthBP) – Commercial real estate to see ‘storm’ of foreclosures

The 2010 Tarrant County commercial real estate market looks to be similar to 2009 with one big difference according to local foreclosure expert George Roddy Sr.: a ‘closing window of opportunity.’ Read More Here

(Bloomberg) – Obama Pays More Than Buffett as U.S. Risks AAA Rating (Update3)

The bond market is saying that it’s safer to lend to Warren Buffett than Barack Obama. Read More Here

(ZeroHedge) – Underemployment At Record 20% According To Gallup

Just in case anyone needed confirmation that the DOL data is just a little, how should we say it, cooked, here comes Gallup with their March 15 undermployment number, which just hit a 2010, and series, high of 20%. Read More Here

(NYTimes) – A Ruinous Meltdown

A story that is not getting nearly enough attention is the ruinous fiscal meltdown occurring in state after state, all across the country. Read More Here

Video: Gerald Celente Interview by Helen Skopis of Athens International Radio – Audio Link Here

(ZeroHedge) – “Passage Of The Healthcare Bill Means The Double-Dip Is Coming�? – Market Insight From Permabull Jim Cramer Who Just Turned Bearish – Tyler Durden

Jim Cramer may be in hot water with the SEC over his theStreet.com, and he may be a mouthpiece for the biggest ponzi enabling organization the developed world has ever seen, however, he did have some interesting and spot-on observations on the just passed health care bill. In a nutshell, and for once we agree with Cramer, if futures are not limit down right now, it is because of the same bidding hand that has kept the market going straight up at a 30 degree angle for the past year. Read More Here

(Reuters) – Nearly 20% of US Workers Underemployed in Jan

Nearly 20 percent of the U.S. workforce lacked adequate employment in January and struggled to make ends meet with reduced resources and bleak job prospects, according to a Gallup poll released Tuesday. Read More Here

(Reuters) – Regulators report 27 percent jump in problem banks

The number of “problem” U.S. banks jumped 27 percent during the fourth quarter of 2009 to 702, the highest level since 1993 and a sign the industry’s recovery is still shaky, regulators reported on Tuesday. Read More Here

(Reuters) – US Jan mass layoffs edge up on weak manufacturing

The number of mass layoffs by U.S. employers edged up in January as manufacturers stepped up job cuts, data showed on Tuesday, but probably not enough to alter views that the economy is on the brink of creating jobs. Read More Here

(AP) – Report: States’ tax collections fall again

States again saw sharp declines in tax collections in the last quarter of 2009 — a record fifth straight quarterly drop, according to a new report that predicts more looming spending cuts or tax increases. Read More Here

(TheComingDepression) – Mainstreet in the gutter while wallstreet post 17% bonuses in 2009

Bonuses on Wall Street rose 17 percent last year to $20.3 billion even as the industry faced a public backlash over pay practices. Read More Here

(Telegraph) – Concerns grow over China’s sale of US bonds

Evidence is mounting that Chinese sales of US Treasury bonds over recent months are intended as a warning shot to Washington over escalating political disputes rather than being part of a routine portfolio shift as thought at first. Read More Here

(Bloomberg) – Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs

When a congressional panel convened a hearing on the government rescue of American International Group Inc. in January, the public scolding of Treasury Secretary Timothy F. Geithner got the most attention. Read More Here

(Aljazeera) – Spain engulfed by pension protests

Spain’s debt-laden Socialist government has witnessed the first mass protests by unions in its six years in power as anger over a plan to raise the retirement age spilled onto the streets. Read More Here

(247WallSt) – Underwater Mortgages Hit 11.3 Million

There is a reason that 702 American banks, nearly one in ten, were on the FDIC “problem list�? as of the end of 2009. A large number of small and mid-sized banks are burdened with home and commercial mortgages that are in default and may even go into foreclosure. Read More Here

(VancouverSun) – U.S. economy is a shambles, with no improvement in sight

President Obama’s claim that a second depression isn’t possible doesn’t square with the relevant numbers Read More Here

(ZeroHedge) – FDIC Hits Record “Default�? Level As Deposit Insurance Fund Plunges By $12.7 Billion To NEGATIVE 20.9 Billion

The U.S. banking industry continued to struggle in the fourth quarter, as the number of banks on the brink of failure continued to rise and the government’s fund to protect deposits fell sharply into the red. Read More Here

(EconomicPolicyJournal) – Where Did the Links Go That Point to the Government Forcing Your 401k and IRA Money into Treasury Securities?

Forget about hedging inside your 401k and IRA against inflation. Sooner than you think, you will not be allowed to own gold ETF’s, gold mining stocks or gold related mutual funds in your 401k or IRA. Read More Here

(Bloomberg) – Greek Police, Protesters Clash in Nationwide Strike (Update2)

Greek police fired tear-gas and clashed with demonstrators in central Athens after a march organized by unions to oppose Prime Minister George Papandreou’s drive to cut the European Union’s biggest budget deficit. Read More Here

(ChimpPlanet) – Trillions for War And None For The American People

In 2001, George W. Bush attempted to destroy Social Security by turning the people’s money over to Wall Street. Then, 9/11 happened and Social Security was saved for the time being. Read More Here

(WashingtonsBlog) – Foundation for the Study of Cycles: Gold to $2,000 By Late 2011, While Dollar and Stocks will Sink

I’m agnostic about different cycle systems, but – for what it’s worth – the Foundation for the Study of Cycles is predicting: Read More Here

(ZeroHedge) – The $100 Trillion Problem: Can America Learn From Chile Before It’s Too Late?

Jose Pinera provides an Entitlement State 101 lecture, in which Chile’s former Labor and Social Security Minister demystifies the U.S.’s $100 trillion unfunded benefits problem. Since Pinera is the man who many years ago privatized Chile’s entitlement system, America, and the entire Western system, which for the past century has been relying on unfunded liabilities to provide benefits to the population in the hopes that funding day will never come, may do well to listen to what he has to say. Read More Here

(MoneyNMarkets) – RED ALERT: Next debt crisis near!

One year and five months ago — armed with a 92-page white paper and 59,000 petitions — we warned Congress about the grave danger of government bailouts Read More Here

(GlobalResearch) – White House Projects Long-Term Mass Unemployment

The White House Council of Economic Advisers released its Economic Report to the President on Thursday, outlining the administration’s economic projections and policies. The report shows that the White House is expecting mass unemployment to continue for years, with only minor decreases from the current rate of nearly 10 percent through 2012. Read More Here

Exclusive: Sweetheart Mortgage Deals for Billionaires that will Make Your Blood Boil

It all started with a phone call I received in early May/2009. The caller sounded troubled, as so many are these days. He told me he had spent several days researching his options. Read More Here

(KoreaTimes) – Fed Plans to Wind Down $2.2 Tril. Stake

The Federal Reserve Board faces a delicate task. Having pumped $2.2 trillion into the economy to fight the recession, it must start pulling that money back. It would have to sop up over half of that liquidity to get back to pre-recession levels. Read More Here

(NYTimes) – The Making of a Euromess

Lately, financial news has been dominated by reports from Greece and other nations on the European periphery. And rightly so. Read More Here

Five Million Workers to Exhaust Unemployment Benefits by June

Back in December, the qualification dates for existing tiers of unemployment benefits were extended for an additional two months. Time is up at the end of February. Read More Here

Video: (Frontline) – Tax me if you can – The Great American Tax Dodge – View Video Here

(TheAtlantic) – Unemployed? Your Banking May Have Just Become More Expensive

When you lose your job, the last thing you need is for your expenses to increase. Yet, at some banks, that’s exactly what can happen with your checking account. A friend of mine recently learned this lesson the hard way with Bank of America. I thought her experience might be worth sharing. Read More Here

Euroland, the Horror Movie

An Olympian game of musical chairs in global finance heads for a climax in the days ahead as so many eyes are diverted to alternate festivities in British Columbia, where grown men compete for gold by riding things that look like cafeteria trays down icy mountainsides — is this the moment that comes every four years when you wonder why you didn’t get your kid a luge for Christmas? Read More Here

(BBC) – Cut working week to 21 hours, urges think tank

The working week should be cut to 21 hours to help boost the economy and improve quality of life, a left-wing think tank has said. Read More Here

Secret summit of top bankers

THE world’s top central bankers began arriving in Australia yesterday as renewed fears about the strength of the global economic recovery gripped world share markets. Read More Here

(Pravda) – Paulson and US Collapse, Lets Blame It On Russia, We Do Everything Else

It’s good to see that US officials and former officials continue acting to par, God forbid they actually shock us and change their stripes. The latest tripe out of the mouths of the mega corrupted and their hand picked puppets is Henry Paulson’s tripe about Russia trying to collapse the US economic bubble and that being the reason that the US is now down on its luck. Read More Here

(JBS) – Ending the Government Monopoly on Currency

The legal tender laws of the United States are found in Article I, Section 8 of the Constitution and grant power to Congress to “coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.�? Nothing more. Read More Here

(WSJ) – ‘Fear Gauge’ Spikes 20%

The so-called fear gauge jumped nearly 20% as stocks took a tumble and looked ready to close at their lowest point of the year. Read More Here

(Bloomberg) – 824,000 Jobs will Disappear on February 5th – Read More Here

(BusinessDay) – Warning of Greek crisis spreading across EU

THE Greek debt crisis has spread to Spain and Portugal in a dangerous escalation as global markets test whether Europe is willing to shore up monetary union with muscle rather than mere words. Read More Here

(Reuters) – U.S. commercial property prices hit new cycle low

U.S. commercial real estate prices fell 4.9 percent in the fourth quarter, setting a new low for the current downturn, according to a leading property index released on Friday. Read More Here

(FoxBusiness) – TrimTabs Estimates Take-Home Pay of All Taxpayers in 2009 Plunged $800 Billion, or 12%, While Value of U.S. Stocks Surged $3.5 Trillion, or 27

TrimTabs Investment Research estimated today that the take-home pay of all taxpayers in 2009 plunged $800 billion, or 12%, to $5.8 trillion. Meanwhile, the market value of all U.S. stocks rose $3.5 trillion, or 27%, to $16 trillion. Read More Here

(Fortune) – Next in line for a bailout: Social Security

Don’t look now. But even as the bank bailout is winding down, another huge bailout is starting, this time for the Social Security system. Read More Here

Obama’s Budget Would Increase Penalties Five-Fold on Tax Protesters

Under current law, the willful failure to pay taxes is a misdemeanor. You could go to jail for up to a year and pay a maximum fine of $25K (for individuals, $100K for corporations) for each year you fail to file a return. There is a proposal in the new budget to increase the penalty for repeated failure to file a tax return: Read More Here

(ToledoBlade) – Ohio state income tax off $97.7M

For the first time since the state enacted its two-year budget in July after dramatically lowering its revenue expectations, tax coffers contain less than the amount officials had projected at this point. Read More Here

(IndyStar) – State revenue is $74.8M off forecast

Groundhog Day may have already passed, but it doesn’t feel like it in Gov. Mitch Daniels’ second-floor Statehouse office. Read More Here

(ETFGuide) – Real Unemployment 18 Percent – Will Stocks Falter?

The unemployment picture painted by today’s jobs report headlines is much rosier than reality. Yet, the Dow broke below 10,000 for the first time in months. The real unemployment number reported by the Bureau of Labor Statistics (BLS) is much higher and scarier than they want you to believe. What’s next? Read More Here

(Telegraph) – Fears of ‘Lehman-style’ tsunami as crisis hits Spain and Portugal

The Greek debt crisis has spread to Spain and Portugal in a dangerous escalation as global markets test whether Europe is willing to shore up monetary union with muscle rather than mere words. Read More Here

(Fox) – The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly last week, evidence that layoffs are continuing and jobs remain scarce. Read the rest of this entry »

(MSNBC) – A record 20 million-plus Americans collected unemployment benefits at some point in 2009, a year that ended with the jobless rate at 10 percent.

As the pace of layoffs slows, the number of new applicants visiting unemployment offices has been on the decline in recent months. But limited hiring means the ranks of the long-term unemployed continues to grow, with more than 5.8 million people out of work for more than six months.

The number of new claims for jobless benefits dropped last week to 432,000, the Labor Department said Thursday, down sharply from its late March peak of 674,000. The decline signals that the economy could begin adding a small number of jobs in January, several economists said. Read More Here

The class character of the Obama administration is clearly indicated by one statistic: President Obama has made available more than $12 trillion in cash infusions, loans and guarantees to the financial industry, but for state governments that are facing massive budget deficits, Obama has thus far provided only one quarter of 1 percent of that amount in federal stimulus funds—about $30 billion. Read the rest of this entry »

(NBC) – October 12, 2009 Read the rest of this entry »

(WSJ) – Siblings Georgia, Jimmy and John Roussos have spent most of their lives working in the kitchen of the restaurant their father opened in 1954. The eatery managed to survive a hurricane and other setbacks, but it wasn’t until this August that the recession took its toll, forcing Roussos Restaurant in Daphne, Ala., to permanently shut its doors. Read the rest of this entry »

Alex goes over Obama’s Attempt to give The Fed even more power and control over all our Lives, and then in part 3, Alex goes over the wonderful new things their puting in your vaccines for this year’s Flu Season!! Read the rest of this entry »

August 2009 marks the 19th straight month we have lost jobs as a nation ~ that’s 6.9 million jobs gone ! The Obama top down multi-billion dollar bailout and bank rescue has artificially inflated stocks and credit markets but has left Main Street destitute, jobless and unprotected: Read the rest of this entry »

In the last few months the world economy has been saved from a near-depression. That feat has been achieved by a range of extraordinary government stimulus measures: In the U.S. and in China, and to a lesser extent in Europe, Japan and other countries, governments have pumped liquidity, slashed policy rates, cut taxes, primed demand and ring-fenced and back-stopped the financial system. All of this has worked, but at a cost. Governments have been spending and borrowing like never before. The question now is: how do they stop? Read the rest of this entry »

The news that the jobless rate in this country has gone from 9.5 percent in June to 9.4 percent last month has led President Obama to declare that his policies have “saved the U.S. economy from catastrophe�? and have led to another rally in the stock market.  While I wish I could agree with the President – I really do wish that – I cannot do so, and I must say, “Not so fast, Mr. Obama.�? Read the rest of this entry »

(BizJournal) – A carbon emissions plan under consideration in Washington aimed at global warming and climate change could cost the U.S. economy between 1.8 million and 2.4 million jobs over the next two decades. Read the rest of this entry »

(RussiaToday) – August 11th, 2009 Read the rest of this entry »

(Times) – American businesses cut 371,000 jobs from their workforces in July in a further sign that recovery in the labour market remains far off despite positive signs in other areas of the economy. Read the rest of this entry »

(DailyMail) – One cannot imagine headlines more certain to rouse public rage than those this week: ‘Massive bonuses for bankers’; ‘record payouts at Goldman Sachs ‘; ‘greed is back’. Amid the worst recession for a generation, the financial communities in Britain and the U.S. will this year award themselves prizes on a scale to gasp at. Read the rest of this entry »

Stock market investors shrug off a disaster in our midst: mass layoffs. Investors act as though it will soon be business as usual. Companies cut costs by firing employees that have been with them for decades. Then the companies can report higher earnings from cost-cutting measures. The media then proclaim an increase in earnings. But how will these increases be sustained? How will an unemployment rate of 11% help get the economy back on its feet? Read the rest of this entry »

So I’m watching these talking heads on CNBC telling America that the signs of a recovery are there.  They are lying and not just merely misled.  They are flat lying, hoping some suckers out there will start making purchases to jump-start America’s consumer-driven engine, and to a small degree it is working. Read the rest of this entry »

The number of Americans filing new claims for jobless benefits rose by 30,000 in the week ended July 18, the Labor Department reported Thursday. The total for the week was 554,000. Read the rest of this entry »

(NaturalNews) – Unemployment is high and retirement accounts have virtually disappeared for many folks in the wake of the current recession. Housing prices have plummeted, too. So it comes as no surprise that data just released by the Administrative Office of the U.S. Courts shows the total number of U.S. bankruptcies filed during the first three months of 2009 increased 34.5 percent over the same period in 2008. Read the rest of this entry »

By Tuesday, many US state governments must pass budgets for the coming fiscal year. The state capitals are now the scene of bitter feuding among governors and legislators over how the deficits will be met. But there is unanimity that the working class must foot the bill. Read the rest of this entry »

(CNN) – Forty-eight states and the District of Columbia post unemployment rates rise in May, while only one state – Nebraska – registers a decrease. Read the rest of this entry »

Union Pacific down 21 percent in first quarter; 5,200 employees furloughed Read the rest of this entry »

I remember the hullaballoo in January 1953 when GM CEO Charles Wilson, President Eisenhower’s nominee for Secretary of Defense, was popularly quoted as saying that “What’s good for General Motors is good for the country.” Read the rest of this entry »

The day of reckoning that California has been warned about for years has arrived. The longest recession in generations and the defeat this week of a package of budget-balancing ballot measures are expected to lead to state spending cuts so deep and so painful that they could rewrite the social contract between California and its citizens. They could also force a fundamental rethinking of the proper role of government in the Golden State. Read the rest of this entry »

The world is engulfed in a global economic crisis of staggering ferocity rivaling four other financial meltdowns—which all began in the month of October. [1]

VP Biden and former Fed Chairman Paul Volcker don’t remember any time when things went down quite so fast, quite so uniformly around the world. The current crisis looks more like the collapse of the Soviet Union, on October 18, 1991, when Gorbachev signed an agreement forming a new economic community. Read the rest of this entry »

(AFP) -Tens of thousands of protesters took to the streets across France Friday in May Day marches in a fresh show of force against President Nicolas Sarkozy’s handling of the economic crisis. Read the rest of this entry »

General Motors Corp. could be majority owned by the federal government under a massive restructuring plan laid out Monday that will cut 21,000 U.S. factory jobs by next year and phase out the storied Pontiac brand. Read the rest of this entry »

General Motors is preparing to shut the majority of its US factories for nine weeks over the summer as its chief financial officer (CFO) admitted a bankruptcy filing is “probable.” Read the rest of this entry »

The Los Angeles Board of Education has voted to lay off as many as 5,400 teachers and support personnel for the upcoming school year. Read the rest of this entry »

A measure of underemployment that counts those people has almost doubled over the past two years, to 15.6 percent, providing a more complete gauge of the labor market’s deterioration. Read the rest of this entry »

(Reuters) – Job losses in the U.S. private sector accelerated in March, more than economists’ expectations, according to a report by ADP Employer Services on Wednesday. Read the rest of this entry »

We have a budget crisis to go with out water crisis. So instead of laying off 20,000 workers and cutting off services to solve California’s budget crisis, why not eliminate the state water subsidies that allow McDonalds and Colonel Sanders to market burgers and chicken for a dollar? Read the rest of this entry »

President-elect Barack Obama calls the current crisis as “the greatest economic challenge of our lifetime�? the worst financial crisis since the Great Depression. Unemployment is already officially at 8.1 percent (California is 10.5), not counting those who have given up on looking for work, and it is certainly going to get much worse with more layoffs every day. Read the rest of this entry »

American businesses were forced to shed more than 23,000 jobs every day last month as recession tightened its grip on the economy, pushing the unemployment rate to a 25-year high. Read the rest of this entry »

MORE than 30,000 government employees – about 14 per cent of the public work force – could lose their jobs and new taxes will be introduced as Puerto Rico attempts to shore up its ailing economy, the governor of the US island territory announced on Wednesday. Read the rest of this entry »

The directors of the Chinese Communist Party’s (CCP) some 3,000 county level Public Security Bureaus are set to go through a training course on quashing mass dissent. Read the rest of this entry »

Whatever the truth is about where this economy is heading, one thing is clear: employers are taking every opportunity to slash employment and, if they are unionized, to hammer unions for pay cuts, even when there is no justification for these actions. Read the rest of this entry »

After a frustrating holiday weekend that failed to yield the one vote needed to end California’s budget stalemate, the state is poised to begin layoff proceedings Tuesday for 20,000 government workers. Read the rest of this entry »

Electronics firm Pioneer is axing 10,000 employees as it pulls out of the flat-screen TV market by March next year and predicts a record annual loss. Read the rest of this entry »

The US economy is imploding, and Obama is being led by his government of neconservatives and Israeli agents into a quagmire in Afghanistan that will bring the US into confrontation with Russia, and possibly China, American’s largest creditor.

The January payroll job figures reveal that last month 20,000 Americans  lost their jobs every day. Read the rest of this entry »

HONG KONG — Nissan Motor joined Toyota, Mazda and Mitsubishi on Monday in forecasting a loss for the current financial year, and announced it was cutting 20,000 workers in one of the most aggressive cutbacks so far by a Japanese company since the start of the global downturn. Read the rest of this entry »

Thousands of demonstrators in Lithuania, Latvia and Bulgaria have attacked government buildings and called on their governments to resign as unemployment soars in Eastern Europe. Read the rest of this entry »

News Corporation, the parent company of The Times, swung to an operating loss of $7.6 billion (£5.2 billion) in the fiscal second quarter, down from earnings of $1.4 billion a year earlier, as the media group was battered by the worst recession in its 50-year history. Read the rest of this entry »

Japan (CNN) – On what was to be a historic day halting all of Toyota’s Japanese assembly lines, the automaker announced late Thursday that it kept one line running. Read the rest of this entry »

Explosive anger is spilling out onto the streets of Europe. The meltdown of the global economy is igniting massive social unrest in a region that has long been a symbol of political stability and social cohesion.

It’s not a new trend: A wave of upheaval is spreading from the poorer countries on the periphery of the global economy to the prosperous core. Read the rest of this entry »

An estimated 26 million poor rural Chinese are now without jobs after pinning their hopes on the once-booming manufacturing sector, where work has dried up due to the global economic slowdown, a government advisory body said. Read the rest of this entry »

Department store chain said the job action affects 4% of the company’s total workforce. Read the rest of this entry »

John Williams, Founder of Shadow Government Statistics, calculates that the jobless rate is a full l0 percent higher than the government is reporting. He also discusses the news Monday morning that American companies (including Sprint, Home Depot) are cutting about 43,000 jobs. Read the rest of this entry »

The so-called democracy of the powerful U.S. elite continues to live up to its legacy of hypocrisy and deceit.

Now that the spectacle of the Barack Obama coronation as the “American�? Empire’s first African-American emperor has run its course, and many, many millions of dollars have been spent on self-adulation by the power elite of this nation, the huddled masses will necessarily be compelled to return to a system of no universal, single-payer health care, increasing joblessness, insatiable corporate / military greed, homelessness, de facto racial disparity & discord, police brutality, a burgeoning U.S. prison population, and endless U.S. wars abroad. For yet again, this nation will have done what it all too often does: perverted its promise, including the dream of the Reverend Dr. Martin Luther King, Jr., into a hypocritical nightmare of gigantic and historic proportions. Read the rest of this entry »

The final week of January began with a bloodbath for the job market, as over 71,400 more cuts were announced on Monday alone. Read the rest of this entry »

California’s unemployment rate climbed to 9.3 percent in December from 8.4 percent in November and 5.9 percent in December 2007, the state Employment Development Department said Friday. Read the rest of this entry »

Although he wouldn’t specify where or how many, an IBM spokesperson today confirmed to Betanews that IBM is sending out pink slips this week. An IBM employee union known as Alliance@IBM is predicting 16,000 job cuts. Read the rest of this entry »

Jan. 22 (Bloomberg) — Microsoft Corp. will cut as many as 5,000 jobs, the first companywide firings in its 34-year history, and said sales and profit will probably drop as the recession eats into software demand. The stock fell the most in 33 months. Read the rest of this entry »

Bankrupt electronics retailer Circuit City Inc. said Friday it has asked for court approval to close its remaining 567 U.S. stores and sell all its merchandise.

The company said it has 34,000 employees. Read the rest of this entry »

Wednesday, Motorola Inc. (MOT) stated that it would cut 4,000 more jobs in 2009 primarily in its mobile phone business and reported a preliminary fourth-quarter loss amid weaker-than-expected handset sales. Read the rest of this entry »

Morici one of first senior analysts to admit U.S. faces 1930’s style collapse

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