I know I get a fair amount if Republicans on this site. I apologize if what I am about to say you find insulting. If it makes a difference I don’t hold Democrats in much greater regard. Two sides of the same coin as far as I’m concerned. I hope that we can disagree about politics, agree about survival and the economy and still remain friends. Even if what I say angers you please scroll to the bottom to look at my pics of the day – a deer rubbing and staghorn sumac.
“As January 20th draws near, some of you may be anxious about finding a new job, or a new place to live. I know how you feel. (Laughter.)”
President Bush 11/6/2008
What’s funny about that!?!?!? He has no idea, not a clue, how I feel. I tend to think that Bush has never sent out a single resume. I’ve sent out hundreds.
Somehow Bush and the Whitehouse press corp think it’s funny to be looking for work or a place to live. To me, it shows such a lack of understanding of what most of us face everyday that it is breath taking. People are hungry. People are looking for work. People are losing their houses. People have to choose between heat or eat. Bush’s statement wasn’t only not funny it was callous. What else would you expect from someone who never had to get their hands dirty, worry about meeting their bills or finding a job.
I really think that the economy is tanking. If you have a job hold onto it. Kiss your boss’ butt. I heard on CNBC the other morning that retail sales are way down at the Abercrombie (-20%) and the Gap (-16%). This is the beginning of the end. It’s beyond a doubt that this will be the worst Christmas season for retailers ever. http://www.forbes.com/equities/2008/11/06/retail-october-closer-markets-equity-cx_mp_1106markets41.html
Seeing how around 65% of the American economy is consumer based and retailers do the vast majority of their business during the Christmas season there are not good tidings ahead. Consumers are forced to pull back their spending because growths in productivity haven’t trickled down as growth in wages. The owners get richer and the workers get poorer. http://www.epipolicycenter.org/blm-stagnant_wages_and_rising_inequality.pdf
In October Ford’s sales plunged 30%, Chrysler’s 35% and GM 45%. This is bad.
I also just heard that the $25 Billion already given to the auto manufacturers by the Republican administration (socialism?) won’t be enough and the manufacturers are coming back with open hands. http://www.forbes.com/equities/2008/11/06/retail-october-closer-markets-equity-cx_mp_1106markets41.html
Credit is still tight for most everyone. Home values are falling and home equity loans are being shrunk.
For the past 20 years, the last two “expansions”, we relied on consumer borrowing. That dog don’t run no more. No auto loans. Student loans are tough to come buy. Lines of credit and so on.
Circuit City is closing 175 stores. Linens and Things is gone.
NYC is laying off 500 workers. Indianapolis may lay off 400 teachers. Dallas laid off 300 teachers. Bf Goodrich is laying off 500 people. 18,000 people were laid off in the financial sector in October. 16,000 were laid off from the auto industry. Motorola is laying off 3,000. Michelin laid off 240. All the newspapers are laying people off. Yahoo employees are facing some imminent layoffs and it goes on and on. http://biz.yahoo.com/ap/081107/economy.html
Don’t forget all that money injected into the economy by the Republican administration (Bernanke, Bush & Paulson). Production is going down so we have less goods. We also have more $’s out there. So we have more $’s chasing less goods. The inevitable result will be rising inflation. I know right now we are facing deflation, which is a more significant problem, but inflation is coming back.
This is just the tip of the iceberg. The layoffs start in earnest Q109. Hold on tight. Most people have no idea what lays ahead. Prepare for the worst and expect the best.
More happy stuff, my pics of the day-
This is a deer rubbing. This is where some buck rubbed the bark off of this small juniper with his antlers. I think that they do this to mark their territory and also to scratch the fuzz off of their antlers. when you see a rubbing you know that there are deer populating that area.
This is Staghorn Sumac. You gather these berries, soak them in cold water and strain the mizture through a clean t-shirt to make a fine tasting lemonade type drink. In the Mideast the berries are used to season shish kebabs. The tea is also good for coughs. Root tea was used to stop bleeding.