Finally, the Election Season is over and the Super Droll of Politics is behind us as the magical number of 270 placed Barak Obama as Commander-in-Chief, President of the United States! American citizens chose to bring back en vogue Life, Liberty and the Pursuit of Happiness! The election of an African-American proves this is still The Land of Opportunity! Pledge allegiance to the Grand Old Flag!
It’s time to go on with views on other news.
Unemployment, the big bad bear of Wall Street continues to claw and shred the economy with vengeance. There’ll be no hibernation this winter with the frigid chill of reality bringing with it a financial ice age and a snowy landslide of plummeting degrees. The spring back to a positive gain in employment figures may have to wait a number of months before workforces once again grow the economy in green pastures. Without refined regulations of financial institutions the bear may become grizzly.
Awash in debt, private, corporate and government, with job losses over 1.2 million thru October, there’s nary a glimmer of hope that the recession will ebb anytime soon. Some predictions cast doubt that “things”, as in “multiple factors”, will get worse before they get better; in all probability, a distant two years. Was that a whisper suggesting three?
Look forward to the blockbuster thriller, "2010: A Financial Odyssey", coming to your financial worries sooner than you think.
The first decade of The New Millennium has been pretty nasty; an economy that was good just a few years ago has, within a matter of months, brought us, and a super majority of every other country in the world, free market to its knees. It’s not us little guys who created this mess; it’s the Power of Corporate and Political demonizations, each with their own groups of special interests.
Of late, news releases have given us facts and figures damaging to the psyche of low and middle class workers/consumers. Right there, before our very eyes we glare at October numbers telling us that 240,00 non-farm payroll jobs fell by 240,000 which follow the 284,00 jobs in September (revised after initial numbers put it at 175,000) and another 127,00 in August. The past three months' job losses more than doubled the previous seven months' fingures.
Through the first ten months of 2008, 1.2 million jobs have been lost but it doesn’t tell the tale of the real tally that puts the number of unemployed at 10.1 million workers. In the past 12-month period 2.8 million jobs have gone away, some forever, many for a very long time.
Check out the U.S. Department of Labor facts and figures at http://www.bls.gov/news.release/empsit.nr0.htm.
I fudge not on what’s the scoop.
And yet, those who control the pocket books of all Americans, namely financial institutions, were given bailouts nearing $1-trillion. Some are hoarding these funds, thanks to the rushing sound of Congress giving in to their real constituents, hastily passing a bill that showed little faith that we, who desperately need our own bailouts, would filter moneys up the financial ladder to the unrepentant money mongers. Please, go figure; I'm too biased since I'm among the unappreciated contributors to the money flow.
At least some of us would just as soon allow the auto industry, in particular, and other business failings. Let them bankrupt, reorganize or become as one, if necessary, but let them not convince the Federal Government to slide billions upon billions of our dollars their way. However long it takes to right the economy, if America is still at the forefront of innovations, the youth of corporate auto executives leave the safety of the herd and bring their own visions of competition face-to-face with the leftovers of the Big Three. The free market is not fair to all. It’s survival of the fittest.
We, the people of lost jobs and dreams, were not at fault for what caused such economic despair and yet we’re left with the hard labor of bailing out this, that and every other failed the others of little foresight. Don’t they understand our buckets have holes in them? The next two generations are faced with paying off the over the top $10 trillion national debt; their unfair shares are over $80,000 per bread earner who, in turn, may have to supplement their diminishing meals with bread and water to sustain their poorer lives. Whole milk and whole wheat bread are healthier but the cost of staples have us stapled to proverbial wooden stakes.
I assume (instead of “ass-u-me”, it really says “ah!-sue-me”) the darker side view of days to come, primarily because it cushions my anticipated falls if worst really is the worst, and springs me back from the doomsday mood if the best is yet to come. Overall, it give me a positive mindset as I reassess my expenses and use common sense to keep me from excesses.
It needs to be everyone’s New Year’s Resolution. Put those written words on every page of the checkbook, always right there facing your determination and commitment. Simple words will work best. “SAVE”. “BILLS ONLY”. “REASSESS”. “ARE YOU SURE?”. “GUILTY?”.
Remember, if you don’t do it yourself, NOBODY WILL! NOBODY CAN!
Remember, too, however fortunate you are right now, others are not as well off; you’re reading this, whereby others may not have electricity.
Hopefully, it’ll be an easy fall with stubbed toes and bruised knees, with a recoil as with the strength and fortitude of a football player catching the touchdown pass and making a goal!
We have a new quarteback, a commander for changes to come. A winning season?
RAH! RAH! RAH! For Home Team America!
Touchdown?
Showing posts with label job loss. Show all posts
Showing posts with label job loss. Show all posts
Sunday, November 9, 2008
Monday, March 17, 2008
The Buck Falls Right Here
When I first heard about JP Morgan Chasing the Bear, I immediately got goose bumps and had a sense of vertigo. I didn’t feel good at all. The implications have yet to be fully realized and I fear the worst is yet to come.
The United States and The New World Order may find America of lesser influence in globalization than anyone could have imagined. We don't have oil, we don't have the funds and we don't have jobs.
Americans are debt-ridden, as is the Federal Government, and neither has a means to overcome the mismanagement of funds. The world community is unlikely to have the means, nor the notion, to resolve what has occurred. Bush’s War watered down the dollar bill and political scandals and financial crooks during the Bush years won’t bring us much sympathy.
Most of the planet has anticipated the end of the Bush Regime but neither John McCain nor the Clinton/Obama outcome suggests strong economic policies. Each of these candidates has shown that they put their own self-interest and ego above considerate direction that America must take for the future. Of course, in the weeks and months to come, they’ll all be touting how their personal expertise will bring sunshine and rainbows back into everyone’s life.
Perhaps American politics could take another course whereby the candidates are actually candid about their means of achieving their intended goals. With whom will they entrust their legacy? Who will be the vice presidential choice? Who will be given the all-important post of Secretary of State? Why should it be a voter’s guessing game as to who might be given positions in the President’s Cabinet? Why not bring forward the intended Secretary of the Treasury and A Plan?
It’s impossible to foresee which Presidential candidate is best for America when promises aren't meant to be honored or when professed experience belies the resume of a career. Who of us wouldn’t feel a sense of security with a future leader if names and faces were placed on the game board of a new administration? As unlikely the prospect would be, a coalition of minds and philosophies could remove much of the guesswork of a doubtful voter.
The current economic turmoil with America’s financial institutions is highly unlikely to be resolved prior to Election Day. No one can predict with any certainty how Wall Street will react to the New Year and a new President. The best of hope will see the choice as decisive, not divisive. The Fed can print as much money as it will but there’s still going to be a debt to pay and the payees are we, the people. We have been grossly disrespected by the very institutions that have relied on our generosity to support their well-being by overextending our limits of economic credibility.
The Greening of America, as expressed by author Charles Reich in the early 70s, has brought about a monster whereby corporations have consistently prompted consumers to acquire all the materialistic rewards that “funny money” could buy. Big business has taken too many pieces of the pie, feeling secure that global employment wouldn’t leave us without a means to maintain ever-increasing credit limits.
The piggy bank is broken. Goodtime Charlie’s got the blues but you can’t put the full blame on the poor chump; he was taught reading, writing and arithmetic but, when it came to responsible financial planning, the teacher was daydreaming about a new pair of shoes, an electronic device or a road toy.
Employers aren’t especially effective in promoting healthy savings plans for its employees either. The truth is, it’s not their responsibility nor should it be but it’s a catch-22 when the hardworking schmuck must seek a financial adviser. His stubborn self-righteousness convinces him that it’s a waste of money because if it were an important facet of life, then it would have been taught in school.
This economic meltdown puts Social Security’s future further in doubt. Also, corporations will likely limit their coverage to employee healthcare. Hillary’s health plan is a mindset that will most likely speed that process along. The most basic of life’s needs are in jeopardy: security in personal health and finance.
So, Russia and China are the future’s major global players of influence and economic stability. Neither Barack, Hillary nor John can turn the wheel of fortune back in America’s favor within whoever’s Presidency lays before him/her.
The Fed’s printing press is busy but invisible ink won’t put the bucks back into American’s pockets.
The bad news? It’s not just the banks that are in trouble, it’s you and me and we.
The embarrassing news? If the goal of the terrorists is to bring the United States to economic ruin then we have become our own enemy and accomplished what they haven’t done themselves.
The United States and The New World Order may find America of lesser influence in globalization than anyone could have imagined. We don't have oil, we don't have the funds and we don't have jobs.
Americans are debt-ridden, as is the Federal Government, and neither has a means to overcome the mismanagement of funds. The world community is unlikely to have the means, nor the notion, to resolve what has occurred. Bush’s War watered down the dollar bill and political scandals and financial crooks during the Bush years won’t bring us much sympathy.
Most of the planet has anticipated the end of the Bush Regime but neither John McCain nor the Clinton/Obama outcome suggests strong economic policies. Each of these candidates has shown that they put their own self-interest and ego above considerate direction that America must take for the future. Of course, in the weeks and months to come, they’ll all be touting how their personal expertise will bring sunshine and rainbows back into everyone’s life.
Perhaps American politics could take another course whereby the candidates are actually candid about their means of achieving their intended goals. With whom will they entrust their legacy? Who will be the vice presidential choice? Who will be given the all-important post of Secretary of State? Why should it be a voter’s guessing game as to who might be given positions in the President’s Cabinet? Why not bring forward the intended Secretary of the Treasury and A Plan?
It’s impossible to foresee which Presidential candidate is best for America when promises aren't meant to be honored or when professed experience belies the resume of a career. Who of us wouldn’t feel a sense of security with a future leader if names and faces were placed on the game board of a new administration? As unlikely the prospect would be, a coalition of minds and philosophies could remove much of the guesswork of a doubtful voter.
The current economic turmoil with America’s financial institutions is highly unlikely to be resolved prior to Election Day. No one can predict with any certainty how Wall Street will react to the New Year and a new President. The best of hope will see the choice as decisive, not divisive. The Fed can print as much money as it will but there’s still going to be a debt to pay and the payees are we, the people. We have been grossly disrespected by the very institutions that have relied on our generosity to support their well-being by overextending our limits of economic credibility.
The Greening of America, as expressed by author Charles Reich in the early 70s, has brought about a monster whereby corporations have consistently prompted consumers to acquire all the materialistic rewards that “funny money” could buy. Big business has taken too many pieces of the pie, feeling secure that global employment wouldn’t leave us without a means to maintain ever-increasing credit limits.
The piggy bank is broken. Goodtime Charlie’s got the blues but you can’t put the full blame on the poor chump; he was taught reading, writing and arithmetic but, when it came to responsible financial planning, the teacher was daydreaming about a new pair of shoes, an electronic device or a road toy.
Employers aren’t especially effective in promoting healthy savings plans for its employees either. The truth is, it’s not their responsibility nor should it be but it’s a catch-22 when the hardworking schmuck must seek a financial adviser. His stubborn self-righteousness convinces him that it’s a waste of money because if it were an important facet of life, then it would have been taught in school.
This economic meltdown puts Social Security’s future further in doubt. Also, corporations will likely limit their coverage to employee healthcare. Hillary’s health plan is a mindset that will most likely speed that process along. The most basic of life’s needs are in jeopardy: security in personal health and finance.
So, Russia and China are the future’s major global players of influence and economic stability. Neither Barack, Hillary nor John can turn the wheel of fortune back in America’s favor within whoever’s Presidency lays before him/her.
The Fed’s printing press is busy but invisible ink won’t put the bucks back into American’s pockets.
The bad news? It’s not just the banks that are in trouble, it’s you and me and we.
The embarrassing news? If the goal of the terrorists is to bring the United States to economic ruin then we have become our own enemy and accomplished what they haven’t done themselves.
Saturday, March 8, 2008
Let's not take too long of a recess
Stocks have fallen to their worst levels since October 2006.
Consumer debt is heading toward 3 trillion dollars.
Job losses are at their worst in five years.
The housing industry has burst.
Lending institutions are broke.
To top it off, inflation in China is nearly out of control and expected to worsen, which means much higher prices on all those comfort goodies American consumers just gotta have.
It’s really bad when consumer confidence is as low as their savings account balances because the earnings on those accounts aren’t worth the interest. It’s a poor philosophy, but “spend it while you got it” can keep you going until you end up in financial ruin. In time, it may be the reality of many Americans.
And yet The Bush Boy has expectations that he can stimulate American buying power with a few bucks down the road when, in reality, he may suspect the middle class will use their credit cards now and then. It’s that typical mentality that says “I’ll get the check in time to pay off what I just charged.” The problem with that reasoning: it probably will become a truth in spending.
When a society is conditioned to spend now and spend later with the notion that being in debt is an acceptable behavior then, guess what?, they’re gonna do just that. This time around a family has little choice but to follow in those same habits just to make ends meet.
Time and time again economists and smart fellows are adamant that a recession is avoidable, as if it hasn’t already arrived to those homeowners who have received foreclosure notices. Careful, economic prophets, don’t let those stalagmites of financial discontent creep up your pantaloons – they are growing upward at a pace representative of the increase in consumer indebtedness.
Careful now, if the populous finds its buying power takes a recess for too long a period of time, consumers may become upset and, eventually, economically depressed.
Consumer debt is heading toward 3 trillion dollars.
Job losses are at their worst in five years.
The housing industry has burst.
Lending institutions are broke.
To top it off, inflation in China is nearly out of control and expected to worsen, which means much higher prices on all those comfort goodies American consumers just gotta have.
It’s really bad when consumer confidence is as low as their savings account balances because the earnings on those accounts aren’t worth the interest. It’s a poor philosophy, but “spend it while you got it” can keep you going until you end up in financial ruin. In time, it may be the reality of many Americans.
And yet The Bush Boy has expectations that he can stimulate American buying power with a few bucks down the road when, in reality, he may suspect the middle class will use their credit cards now and then. It’s that typical mentality that says “I’ll get the check in time to pay off what I just charged.” The problem with that reasoning: it probably will become a truth in spending.
When a society is conditioned to spend now and spend later with the notion that being in debt is an acceptable behavior then, guess what?, they’re gonna do just that. This time around a family has little choice but to follow in those same habits just to make ends meet.
Time and time again economists and smart fellows are adamant that a recession is avoidable, as if it hasn’t already arrived to those homeowners who have received foreclosure notices. Careful, economic prophets, don’t let those stalagmites of financial discontent creep up your pantaloons – they are growing upward at a pace representative of the increase in consumer indebtedness.
Careful now, if the populous finds its buying power takes a recess for too long a period of time, consumers may become upset and, eventually, economically depressed.
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