Monday, January 26, 2009

Tens of thousands more layoffs are announced

It's been a great life for a while now so I guess our time for a slump is due. The free market is cyclical, often climbing up and falling down naturally. In my humble opinion, the free market and stock markets wouldn't have gone from slump to dead if McCain were president. Listening to talk radio, one show had a caller who said (several months ago) that in her private business, they were looking to hire more people and expand their business that would provide jobs for 22 more people. But she said they were going to hold off on doing that to see if Obama won the presidency because she knew she wouldn't be able to hire people under Obama's tax plan-- the plan to tax people right out of business.

Obama said we need to stimulate the economy from the bottom-up, not a trickle-down like McCain's plan. It's a nice idea in theory but realistically killing jobs at the top to make room for jobs at the bottom in actuality kills jobs for those in the middle-- like me. The layoffs at Microsoft and Boeing are going to put me out of a job because those "evil rich people" provide me with a job as a nanny. I can't make a living by working for someone who makes minimum wage.

Apparently Obama's success is our failure.

Seattle Times

It's already been a lousy year for workers less than a month into 2009 and there's no relief in sight. Tens of thousands of fresh layoffs were announced Monday and more companies are expected to cut payrolls in the months ahead.

The recession, which started in December 2007, and is expected to stretch into this year, has been a job killer. The economy lost 2.6 million jobs last year, the most since 1945. The unemployment rate jumped to 7.2 percent in December, the highest in 16 years, and is expected to keep climbing.

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