US economy could lose 8 million jobs this year

Deja Q

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Wed Mar-04-09 04:44 PM
Original message

US economy could lose 8 million jobs this year

http://blogs.moneycentral.msn.com/topstocks/archive/2009/03/04/the-us-economy-could-lose-eight-million-jobs-this-year.aspx

Excerpt:

In the final analysis, the market may have to go through the tragedy of a sell-correction which combines agony and duration. What may happen is that the economy will run through a cycle in which unemployment increases until labor costs fall to a nearly unimaginable level. Businesses will begin to hire again because they will have access to skilled workers at a fraction of what those people would have cost them a year ago. If that is the solution to the labor problem, the end of the recession is a long march from here.

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leftstreet

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Wed Mar-04-09 04:48 PM
Response to Original message

1. "until labor costs fall" MISSION ACCOMPLISHED!

Fuck the Ruling Class with a stick

:grr:

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Deja Q

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Wed Mar-04-09 04:50 PM
Response to Reply #1

2. But if other countries' governments are pulling their own people out of poverty,

and their people are getting wages none of us could live on here, will our cost of living go down along with the wages at some point?

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blues90

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Wed Mar-04-09 05:08 PM
Response to Original message

3. Isn't this what has been going on already

I see jobs listed with a WOW $9 per hour inserted in their job listing as if this great pay. They seem to feel if it's above the min wage it is great pay. Most of the listings note it is a part time position or a contractor type job.

Now that jobs are scarce they have the worker by the short hairs.

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Deja Q

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Wed Mar-04-09 05:19 PM
Response to Reply #3

4. On the plus side, the imbalance will still mean ultimate collapse.

Not that that is a real plus, mind you...

I keep hearing how people in developing countries will spend more. Well, will they or won't they or if they are despite being paid much less than Americans, the "global economy" is still anything but truly global and grossly off-kilter.

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blues90

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Wed Mar-04-09 05:40 PM
Response to Reply #4

6. Well , global economy is some sort of term that

means nothing because it is as you said off-kilter , it's a term like war on terror.

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guitar man

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Wed Mar-04-09 05:36 PM
Response to Original message

5. I've got a better idea

Before we crawl up to these fat cats with our hats in our hands to work for whatever crumbs they decide to brush off the table, how about we do this? We mob up and drag the fuckers out of their mansions, limos and ivory towers into the streets, hang them up by their heels and beat them like pinatas until the beg for mercy. And while they're up there, we take the opportunity to negotiate contracts and get them to sign before we cut them down. Enough of this shit!! :grr:

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MUAD_DIB

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Wed Mar-04-09 06:25 PM
Response to Reply #5

7. I'm with you on that.

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lib2DaBone

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Wed Mar-04-09 07:04 PM
Response to Reply #5

8. I'm Ready to Rumble....

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