More Lay-offs
I just found out that a friend of mine was laid off yesterday. It doesn’t seem to be dying down at all. How far will this downward spiral continue?
Company lays off employees, laid-off employees cut back spending, less spending causes poor company results, company lays-off more employees to cut expenses. You can see the vicious cycle.
How long before all the false money is gone? Will it go beyond the false money, then jump back up? Time will tell.
Hey, I’m gone from United Business Media, too, and I’m frankly overjoyed, because of the climate of fear and uncertainty that had characterized UBM specifically and the media and engitneering industries in general in recent months. Media was just ahead of the curve of the rest of the economy. Frankly, as Obama said yesterday, we haven’t seen the worst of it yet. The bottom of the barrel will come around February or March, when the general economy seizes up because of the lack of commercial credit. Then the layoffs may be greater than anything we’ve seen to date. The employees at Republic Windows in Chicago have the right idea – occupy your workplace and refuse to surrender assets until banks are mandated by force of law to extend credit if certain conditions are met. If we’re going to be nationalizing banks anyway, the taxpayers should tell banks when, to whom, and on what conditions to make commercial loans.
Loring Wirbel - December 8, 2008 at 3:51 pm |