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Global Trade Is Collapsing As The Worldwide Economic Recession Deepens

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Dominoes Falling - Public DomainWhen the global economy is doing well, the amount of stuff that is imported and exported around the world goes up, and when the global economy is in recession, the amount of stuff that is imported and exported around the world goes down.  It is just basic economics.  Governments around the world have become very adept at manipulating other measures of economic activity such as GDP, but the trade numbers are more difficult to fudge.  Today, China accounts for more global trade than anyone else on the entire planet, and we have just learned that Chinese exports and Chinese imports are both collapsing right now.  But this is just part of a larger trend.  As I discussed the other day, British banking giant HSBC has reported that total global trade is down 8.4 percent so far in 2015, and global GDP expressed in U.S. dollars is down 3.4 percent.  The only other times global trade has plummeted this much has been during other global recessions, and it appears that this new downturn is only just beginning.

For many years, China has been leading the revolution in global trade.  But now we are witnessing something that is almost unprecedented.  Chinese exports are falling, and Chinese imports are absolutely imploding

Growth of exports from China has been dropping relentlessly, for years. Now this “growth” has actually turned negative. In September, exports were down 3.7% from a year earlier, the “inevitable fallout from China’s unsustainable and poorly executed credit splurge,” as Thomson Reuters’ Alpha Now puts it. Most of these exports are manufactured goods that are shipped by container to the rest of the world.

And imports into China – a mix of bulk and containerized freight – have been plunging: down 20.4% in September from a year earlier, after at a 13.8% drop in August.

This week it was announced that Chinese GDP growth had fallen to the lowest level since the last recession, and that makes sense.  Global economic activity is really slowing down, and this is deeply affecting China.

So what about the United States?

Well, based on the amount of stuff that is being shipped around in our country it appears that our economy is really slowing down too.  The following comes from Wolf Richter, and I shared some of it in a previous article, but I think that it bears repeating…

September is in the early phase of the make-or-break holiday shipping season. Shipments usually increase from August to September. They did this year too. The number of shipments in September inched up 1.7% from August, according to the Cass Freight Index.

But the index was down 1.5% from an already lousy September last year, when shipments had fallen from the prior month, instead of rising. And so, in terms of the number of shipments, it was the worst September since 2010.

It has been crummy all year: With the exception of January and February, the shipping volume has been lower year-over-year every month!

The index is broad. It tracks data from shippers, no matter what carrier they choose, whether truck, rail, or air, and includes carriers like FedEx and UPS.

What major retailers such as Wal-Mart are reporting also confirms that we are in a major economic slowdown.  Wal-Mart recently announced that its earnings would fall by as much as 12 percent during the next fiscal year, and that caused Wal-Mart stock to drop by the most in 27 years.

And of course this is going to have a huge ripple effect.  There are thousands of other companies that do business with Wal-Mart, and Reuters is reporting that they are starting to get squeezed…

Suppliers of everything from groceries to sports equipment are already being squeezed for price cuts and cost sharing by Wal-Mart Stores. Now they are bracing for the pressure to ratchet up even more after a shock earnings warning from the retailer last week.

The discount store behemoth has always had a reputation for demanding lower prices from vendors but Reuters has learned from interviews with suppliers and consultants, as well as reviewing some contracts, that even by its standards Wal-Mart has been turning up the heat on them this year.

“The ground is shaking here,” said Cameron Smith, head of Cameron Smith & Associates, a major recruiting firm for suppliers located close to Wal-Mart’s headquarters in Bentonville, Arkansas. “Suppliers are going to have to help Wal-Mart get back on track.”

Similar things are going on at some of the other biggest companies in America as well.

For instance, things have gotten so bad for McDonald’s that one franchise owner recently stated that the restaurant chain is “facing its final days”

“McDonald’s announced in April that it would be closing 700 ‘underperforming’ locations, but because of the company’s sheer size — it has 14,300 locations in the United States alone — this was not necessarily a reduction in the size of the company, especially because it continues to open locations around the world. It still has more than double the locations of Burger King, its closest competitor.”

However, for the franchisees, the picture looks much worse than simply 700 stores closing down.

“We are in the throes of a deep depression, and nothing is changing,” a franchise owner wrote in response to a financial survey by Nomura Group. “Probably 30% of operators are insolvent.” One owner went as far as to speculate that McDonald’s is literally “facing its final days.”

Why would things be so bad at Wal-Mart and McDonald’s if the economy was “recovering”?

Come on now – let’s use some common sense here.

All of the numbers are screaming at us that we have entered a major economic downturn and that it is accelerating.

CNBC is reporting that the number of job openings in the U.S. is falling and that the number of layoffs is rising

Job openings fell 5.3 percent in August, while a 2.6 percent rise in layoffs and discharges offset a 0.3 percent gain in hires. Finally, the amount of quits — or what Convergex calls its “take this job and shove it” indicator because it shows the percentage of workers who left positions voluntarily — fell to 56.6 percent from 57.1 percent, indicating less confidence in mobility.

And as I discussed the other day, Challenger Gray is reporting that we are seeing layoffs at major firms at a level that we have not witnessed since 2009.

We already have 102.6 million working age Americans that do not have a job right now.  As this emerging worldwide recession deepens, a lot more Americans are going to lose their jobs.  That is going to cause the poverty and suffering in this country to spike even more, if you can imagine that.

Just consider what authorities discovered on the streets of Philadelphia just this week

Support is flooding in for a homeless Philadelphia family whose two-year-old son was found wandering alone in a park in the middle of the night.

Angelique Roland, 27, and Michael Jones, 24, were sleeping with their children behind cardboard boxes underneath the Fairmount Park Welcome Center in Love Park when the toddler slipped away.

The boy was found just before midnight and handed over to a nearby Southeastern Pennsylvania Transportation Authority police officer, who took him to the Children’s Hospital of Philadelphia.

He was wearing a green, long sleeve shirt, black running pants and had a diaper on, but did not have shoes or socks.

Could you imagine sleeping on the streets and not even being able to provide your two-year-old child with shoes and socks?

These numbers that I write about every day are not a game.  They affect all of us on a very personal level.

Just like in 2008 and 2009, millions of Americans that are living a very comfortable middle class lifestyle today will soon lose their jobs and will end up out in the streets.

In fact, there will be people that will read this article that this will happen to.

So no, none of us should be excited that the global economy is collapsing.  There is already so much pain all around us, and what is to come is beyond what most of us would even dare to imagine.

  • Alwaystomorrow

    One minute please

    • Malcolm Reynolds

      Alwaystomorrow has issued a RED ALERT for as long as he posts.

      Published 10/7/2015
      “I look at things probably to simple. ”

      “I am not very smart …Yes I loose when markets go up”

      “I told you I am simple ”

      Published 10/5/2015

      “My posts are annoying, irritating, childish….”

      I have no idea what a collapse even looks like but by golly, I’m going to mock and harass the people here because, although I admit I’m a cretin, I know this author is wrong despite the VAST number of links, quotes and charts provided indicating otherwise.

      And if he bans me for the harassment … again, I’ll surely whine like a little girl that wants her dolly … again.

      —————-
      Let’s all congratulate always because, even the village idiot needs a pat on the head every now and then.

      • Alwaystomorrow

        Back out on probation?

        • Gay Veteran

          ROFLOL

      • The equaliser

        Too many grammatical and spelling errors here to call anyone else an idiot, except yourself.

        • Malcolm Reynolds

          You must’ve ignored the quotes and the bold, imbecile.

    • SunnyFlaSnotress

      Alwaystomorrow, thanks a million for all you do.
      I have to keep telling you..
      Alwaystomorrow, you are the BEST blogger I have ever read. I always enjoy reading your postings. :)

      • Alwaystomorrow

        Your welcome. I only have 72 days left.

        • Malcolm Reynolds

          yore, your, you’re. eenie meenie miney moe

      • Malcolm Reynolds

        you are the BEST blogger I have ever read
        LMFAO!

      • jaxon64

        Again you are wrong–AT is NOT a blogger, he is simply a parasite that has leached himself onto a blog and posts trite and repetitive comments via cut/paste.

        • Alwaystomorrow

          Your point?

    • Karl

      I don’t like you.

      • Alwaystomorrow

        I remember. :-)

    • CASTIEL

      still waiting for that special nuke? :)

  • GSOB

    Judges 16:22

    • Guest

      I’m a Christian, but I don’t see what Samson’s hair growing out again has to do with the subject of this article.

      • GoldenGirl

        I was wondering the same thing. What on earth??

        • GSOB

          He saw his own folly, repented. Genuine repentance.

          • GoldenGirl

            Ah. Thanks for the clarification.

          • GSOB

            But his father and his mother knew not that it was of the LORD, that he sought an occasion against the Philistines: for at that time the Philistines had dominion over Israel.

          • GSOB

            Clear,… like night and day.
            (Samson & Delilah with 2 Cor.6:14)

      • GSOB

        Folly is what’s common and a correction is needed..

    • Gay Veteran

      Polly want a cracker?

  • CharlesH

    Michael, thanks a million for all you do. It sickens my heart to see so much homelessness and hunger in this country. The child you mentioned in your article just makes it so clear how bad things are in this country. 102 million unemployed – that’s literally shocking! Yet the government reports a wonderful 5.1 unemployment rate. Unbelievable. I really am concerned and worry a lot about how bad things are becoming.

    • SunnyFlaSnotress

      Michael was WRONG about widespread summer rioting. Michael was WRONG about the Greek Deal. Michael was WRONG about a September stock market crash. Mike was WRONG about the USA official stand on Assad, and he is likely wrong with his unemployment statistics. McDonalds has firm profits even if it has some whining dramaqueen franchisee. Walmart is facing more e-commerce competition.

      • Watchman

        Oh boo hoo Sunny what’s the matter your handlers tell you to cut and paste now??? Because that’s really all you are cut out for intellectually.

      • The problem Sunny is that he could not have been wrong in any of those case since he always apply conditional to his words when speaking of those topics, and even then it was an opinion, not an affirmation.

        As far as I remember, he mainly referred to news articles leading to a potential conclusion of Riot, Greek Deal, etc, etc you name it. He was not the only one to think as he did neither. Again the conclusion (although potential, not certain) were simply logical based on the data at a certain point in time. In that sense he acted as any journalist would do himself – develop an idea based on gathered information at a specific time, then draw a logical conclusion based on those information. In the case of Michael, he also has the luxury to give an opinion as well…

        The only time he made an affirmation by risking his own “head”(so to speak) is with his RED ALERT. Except for that he speak always in a conditional way.

      • CASTIEL

        You are pissed of because you wanted to see everything burn? and that didnt happen….yet…..am i right?

      • John Byde

        He was wrong about the name of my new puppy too. The swine!

        • Gay Veteran

          LOL

      • Gay Veteran

        look at the labor participation rate, we have not recovered since 2008

  • Barry Goldwater

    Yet the Dow Jones Industrial average has resumed it’s steady climb to 18,300 again even as we’ve seen today the economic news isn’t all that good.
    Have you noticed even on a flat day the market ends up ?Why ?
    The Establishment ,that is Wall Street and the Federal Reserve must continue pumping up this façade of wealth to keep uninformed Americans pouring their hard earned cash from ZIRP bank accounts into this fraudulent Ponzi scheme.
    Are these prices justified in any way ?
    IMO absolutely not , yet Americans are continuing to pump money into this market.
    I believe this market will top it’s May high’s before years end creating an even bigger bubble than we have now largely due the fact they know the Federal Reserve is helpless to raise rates .
    The smart money isn’t in this market but only the pending disaster will convince this ship of fools that they were duped !

    • John Higson

      The problem being that the traders of stock and shares see bad news as good news as it will probably mean that the fed opens the spigots for QE4. After all it’s really the only game in town anymore! the only other thing is negative interest rates and I can’t see even the sheeple having that, can you?

      • Barry Goldwater

        Negative rates are coming but we won’t go full throttle on negative rates until the Establishment eliminates cash. At the moment negative rates would induce many to withdraw money from the bank ( something they should be doing anyway ) .
        Digital money will be programmable to automatically shrink after say, a year then 1000 becomes 990 etc. It will be a full frontal attack on savings much more than the insidious ZIRP policy we have now.
        Do not believe the rubbish about a coming rate increase and as you suggest a round of QE is most likely in the cards.
        After all this we will be told how wonderful the economy is .

        • Alwaystomorrow

          If I understood you correctly, you made mention that people should be withdrawing money from the bank.

          Give me your idea what you think should be done with withdrawn funds .

          Would your answer be different for $10,000 or $100,000 or $500,000?

          Thanks.

          • Barry Goldwater

            Happy to elaborate here. I do believe that due to changes in banking law the next crisis will amount to a ” bail in ” as we’ve already seen in other parts of the world. Here in the US funds on deposit may be converted to bank shares which will be of unknown value and most likely less than the original deposits because we’ll most likely be getting a haircut here.
            I believe most Americans will at that time be very unhappy and unwilling participants in the meltdown of America. Couple this with the fact that during the coming upheaval they may also find their bank closed indefinitely.
            How much of this hardship could be prevented by simply stockpiling cash now before the calamity ?
            As for what to do with it, there are safe and viable private solutions available and I do not recommend bank safe deposit boxes because they are in the bank.
            Preparation must include having cash on hand which can be accessed without the involvement of banks.

          • Alwaystomorrow

            You also made mention of a cashless society. Do you not think that having large quantities of cash may pose a problem if that happens and you have cash.

          • Mike Smithy

            Great thread. Diversification is key. I am still a big advocate of gold, silver, guns, ammo and some cash on hand.

        • John Higson

          ‘many to withdraw money from the bank’

          Which I’ve done! But it’s not an option for the risk averse. If everybody did it, it would be a bonanza for burglars and breaking and entering would sky rocket in all probability.

          I realised when I was in Japan(which had zero interest rates a lot earlier) that not only did they have my money as an asset on their books, but if I ever wanted money out of bank hours they charged me a fee to withdraw it AND gave me zero interest on it! Flock that! So I withdrew everything and have not used an account since.

          I agree about the coming war on cash. The central bankers want absolute control and the drip,drip,drip of stories about it is instructive.

          • Barry Goldwater

            ” bonanza for burglars and breaking and entering would sky rocket in all probability.”
            Only if ill planned in the first place. I realize some people think keeping it under the mattress is a safe place but there’re many private options for the storage of valuables which bypass the banksters. Of course the main idea is to have access which the banksters will restrict during the next crisis. You are correct though, negative rates are just around the corner and one might say here in first wave already in the form of rising fees for many accounts which eat the depositors cash. I too have withdrawn substantial portions and have encountered letters and phone calls as a result. Even requests for private meetings to discuss ” other options “. The banksters don’t want the flight of capital , after all it’s free money for the excessive lending they’re involved in. ZIRP money loaned at any rate is a great deal for them.
            Drive up to the window and ask for a large amount of cash and watch the scramble as they often don’t have that much readily available.
            Likewise mutual funds, and brokerages are erecting gates against this flight of capital as well. Requiring waiting days, placing limits on withdrawals and amounts , all designed to stop loss and prevent average Americans from taking actions to preserve their capital.
            What can be said of all this is that the financial services industry is serving itself and intend us to be it’s slaves .

        • Mike Smithy

          Great insight.

      • GSOB

        Absolute power, absolute corruption.

  • CASTIEL

    My boss is always complaining that he is not making profit…….and he dont know how long he can keep up …..looks like things in europe are not so good too…i think i m going to look for another job…again :) when the government says everything is fine and our economy is growing up …that really pisses me off….i wish i had a remote controlled missile ( the big ones ) i would just press the button and send them my complaints.

    • MIchael in Chicago

      When profits decline stores close.

      • David

        yes.

        a store without customers is a very costly hobby.

      • Mike Smithy

        Welcome back Michael in Chicago. It’s been awhile.

  • dsf

    Frightening facts about America:

    -Over 100 million Americans out of work
    -Over 44 million Americans without health insurance, with the US being the only country in the Western hemisphere without universal healthcare
    -Over $1 trillion dollar student loan debt, now surpassing credit card debt
    -Over 50% college graduates out of work
    -Prison industrial complex with the highest incarceration rate per capita
    -Outsourced all of our manufacturing jobs and replacing other jobs with technology
    -NAFTA, Patriot Act, TPP, FATCA and other fascist legislation designed to take away more economic opportunites and freedoms
    -Over $1 trillion pumped into military industrial complex and foreign aid, while US cities are rotting
    -Highest homeless rate and income inequality in the Western hemisphere
    -Highest number of multinationals in the world, destroying mom and pop businesses.

    • Watchman

      How about the $210 Trillion fiscal gap or the Shadowstats 22.9% unemployment rate…or the true inflation rate according to Shadowstats?

  • John Higson

    Just think how bad it’s going to get when we haven’t even near recovered from the last crisis yet! The next wave is looking to strike right about now with the LTO driller ALL going bust at the same time! Deutsche Bank or Glencore could be the spark to the economic conflagration! Imagine what percentage of the working age population will be without a job after another crisis of equal magnitude to the last one?!?

    • GSOB

      Consumerism is a pattern of behavior that helps to destroy our environment, personal financial health, the common good of individuals and allows the destruction of political institutions.

  • MIchael in Chicago

    The suicide rate in America should be taking off shortly. More so for middle age males. Despite the stupid high tax I would not be surprised to see an uptick in sales of alcohol and tobacco (though I am not sure if there is a way to measure long term sales).

    Anyway like I mentioned on this blog before one of my co-workers who has just finalized the ending of his third marriage talks about suicide on and almost daily basis now. He has two or three degrees (doctorate?) but no skills. Once he stopped teaching the gravy train came to a complete halt. At 55 years old and overweight no one wants to hire him. To make matters worse full-time jobs are just about non-existent in the unskilled labor market. Despite all the legal paperwork being completed he recently had his wages garnished. She wants more money. Anyway. 32-40 hours per week at $9 an hour is not enough to live on when you are married with kids. Divorced, homeless, in debt and having to make child support payments is even harder.

    I told him last week what I told him last year. He needs to grant her full custody and say goodbye to his girls.

    His wife is about 10 years younger and still good looking. She will remarry (or cohabitate) and have a third source of income (her check, the husbands check and the ex-husbands check) and have her kids.

    The divorced co-workers and friends I know are starting to out number the number of married people I know. A little bit of hardship is all it takes these days. Life in America is not what it once was, when the going got tough the family stayed together. Those days are over and done with forever. There is no hope here anymore.

  • MIchael in Chicago

    Like I mentioned on here once before it is a really bad time to not have a second job. Almost everyone is hiring seasonal help now. If you don’t already have a second job now is a great opportunity to earn a few thousand dollars over the next 10 weeks.

  • Sack man

    Glad I doubled up on my international mutual funds. Market bounced back nicely. Oil down yay. Making boatloads.

    • Ricardo

      I hope you use part of your profits to help those in need.

    • Kent Harris

      I must be investing in the wrong international funds mine is down a whopping 40%. In fact, I have 7 funds in all of them are performing poorly.

  • Orac4Prez

    On the local news, it was said Chinese consumers were buying larger amounts of locally manufactured goods and the local (as opposed to export market seems to be giving their economy a small lift. In th Western world, salaries are shrinking a lot and disposable income is dropping. So how can you purchase more when there is less and less in your pocket!

    At the moment the only ones getting pay rises are the public servants. In Australia, there has been a claim for a 20% pay rise!

  • Michael Dubin

    So why is the stock market going up? This is no “fools rally”, as Greg Mannarino says, it outright manipulation by the Fed and Plunge Protection team. And these crooks will keep this going of a long, long time, a lot longer than anyone in the blogoshere predicting “collapse” thinks. QE never ended, the proof is in the low interest rates. China and Russia are unloading their US treasuries. Who is buying our government’s garbage debt, if not the Fed? They either buy it themselves, or launder the money thru other banks and they buy it. The only thing they can’t control is other countries leaving the dollar payments system.

    • Sack man

      As earnings go up each year. Dividends increase causing stock prices to go higher. That simple. Guess what? It’s not changing anytime soon.

    • The stock market is increasing because there is no where else to put your money and earn any kind of return. What are we going to do? Buy bonds? A CD? PM’s? Hell, none of these even beat inflation. Real Estate? What a joke. Anyone buying real estate is BTATH.

      We have to buy stocks – one can still rock a 6-9 percent return with pretty low risk and everyone knows it. That is why the stock market is doing fairly well while the actually business that are publicly traded are doing poorly.

      May Your Dow Never Jones.

      • Michael Dubin

        If you play the stock market, understand that you’re putting your money in the hands of criminals. They can crash this thing at any time and you will be left holding a used condom. Of course, they can also keep it going forever if they wished. Just saying.

        • Mike Smithy

          You speak truth Michael Dubin.

          • Michael Dubin

            Thanks

      • jaxon64

        Don’t be so quick to bash on real estate. About 2 years ago I purchased a 6 unit apartment building–granted it was a bit nerve wracking while money was going out trying to renovate it well enough for decent habitation–but now I clear $3000+ per month on it and the tax write offs for upkeep, insurances make the overhead balanced.
        I should have it paid off fully in 4 or 5 years and it will be another nice “egg” in my retirement income basket……

      • FredFlintstone

        Ultimately people should be thinking Return OF Capital…and not return on capital. Once people figure this out, then this baby is gonna implode…and its going to be SPECTACULAR!!

    • SunnyFlaSnotress

      This article fails to acknowledge the rise in e-commerce. There’s nothing that says that Walmart has to be the economic belwether.
      It’s also being stated elsewhere that the government is making record revenues. freebeacon dotcom/issues/government-collects-record-high-taxes-in-first-three-quarters-of-fy-2015/
      What we are likely seeing is the amassing of wealth by the fewer. That doesn’t mean the economy is doing badly per se as much as it means that more people don’t reap the benefits.

      • jaxon64

        You are wrong again–the article was not focused on Walmart but instead on global trade…….The numbers at the beginning of the article clearly show the slowing of imports and exports from the world’s leading international trader. The BDI for international shipping is now at 10% of its norms during the 1980’s and 1990’s…..

      • chilller

        No e-commerce and Wally world isn’t a belweather and a McD drama queen huh….
        These comments speak volumes about your lack of finance knowledge and immaturity of your youth. I lift my leg on you….

    • Mike Smithy

      Bingo. +10.

  • lucid one

    Metro Atlanta has subdivisions going up at 500K and up for a starter home in Forsyth county Georgia! I am lucky to get 15 an hour and only 30 hrs per week when I can. I read this article tonight and I remember and now understand why I saw a homeless man living in a tent in the woods right next to the high dollar homes just this morning. I also see the bubble in property again as before 2007 – 2008. New homes going up and many homes for sale and foreclosed all around. Commercial property for sale, for lease and falling down with new commercial strip malls going up a mile down the road from all the available property. It is a BUBBLE again!!!!!! All I see are foreigners Indian,Chinese,Korean, Somali and everything but Americans around here now. They are over running the culture and people who for generations lived here. They are living in the high dollar homes and driving the BMW and Benzes! Most of them are arrogant cheap and choose to be exclusive to their own people. I do not observe any of them being open to diversity and multiculturalism.

    When all the real middle class Americans are broke and they see their children becoming slaves in their own country, watch out!

    Tom Chittum wrote of this many years ago, CIVIL WAR II is coming to AMERI K A!

    I am lucid to reality!

    Robert C

    Hey! hows all that hope and change?

    1776 part 2 wadya think?

  • winnie the pooh

    With a ” known ” population of @ 322 million in America at this time and
    having 102.6 million unemployed that puts this country at 31.8% unemployment rate which is 6.8 points higher than the rate of the Great Depression of the 30s.

    • joe

      You’re assuming that the stay-at-home Mom’s actually want a job. You’re also putting employment age people up against non-employment age people. Preschoolers don’t count.

    • Keep in mind that that the Civilian Participation Rate is calculated by counting of payroll tax accounts against the entire US population. Children, retirees and business owners are not “employed” for the purposes of the rate calculation. If the entire demographic is used in a weighted calculation, it would be observed that the “unemployment” rate is not 31.8%.
      Be advised that the participation rate increased dramatically in the late 70’s when women entered the workforce en masse. This was an overcapacity of labor that is now being fully reduced to the proper level of demand. Its all business cycles. Nothing is collapsing, but a recession…totally.

      • retired22

        Another Keynesian,…we can fly if we only flap our arms up & down fast enough!
        All things are possible if we only believe that Federal Reserve I.O.U.’s are really money!

    • greanfinisher .

      The unemployment rate is actually 22.0%.

      • Jazz

        Well if people got off their lazy arses instead of playing Xbox all day & actually took time to acquire the desired skills for this economy then we would have a better employment picture. Plenty of job openings. It’s just a lack of skills and quality candidates keeping those jobs unfilled.

        • greanfinisher .

          Be perpetually saddled with higher education debt just to land a frickin’ $10.50/hr CNC job? That doesn’t sound like a valid plan to me.

          • Jazz

            Take some courses at a technical college, get online certifications, do whatever it takes to improve one’s skillset. Start a business. Create a service or product. PLENTY of opportunity in this economy if one is willing to work hard and solve problems. A good friend of mine doesn’t have a college degree. He got certified to do computer repairs and is busier than ever making a lot more money than he ever did when he worked for a company.

          • GSOB

            And the compulsory ACA needs funding from the employee as well as the employer too.
            That’s just the beginning.

          • alan

            A lot of people in the south strip copper wire, all you need is a pair of wire cutters and a hack saw. Another though is a lot of people own aluminium boats, that could be better than stripping wire and pipes.

          • Bill

            Scrap prices have fallen 80%.Aluminum was $1.25 last summer,now its at .24 per pound.Steel has fallen from 10 cents per pound to 1.2 cents.Used to haul off every piece of scrap from every construction job worked on,now its not worth the gas to do it.Don’t know about copper,the sparkies always take those scraps.

          • Gay Veteran

            oh yeah, lets get MILLIONS of people into technical colleges.
            moron

          • MEP325

            Hey jack off, you don’t have to resort to elementary school style name calling everytime you disagree with someone or have a different view. Idiot

          • Gay Veteran

            hypocrite

          • MEP325

            Simply giving you a taste of your own medicine, which is completely warranted considering you started with the name calling.

          • Gay Veteran

            no, you’re a hypocrite. be adult enough to take responsibility for your actions

          • MEP325

            Ah, someone got their panties in a bunch. Then you be adult enough to refrain from the name calling whenever you disagree with a post.

          • Gay Veteran

            like I said, junior, you’re a hypocrite.
            and it sounds like you’re the one with your panties in a bunch.
            now run along

          • MEP325

            Na, you’re the one with your panties in a bunch. I called you out for the name calling and you don’t have any valid rebuttals. Like I said, I simply gave you a taste of your medicine to see how you like it. If you’re going to start with the childish name calling, then be prepared to take some heat. Otherwise, be a little more civil when responding to other commentors. Good day to you sir.

          • Gay Veteran

            you don’t see me angry because the fact remains that you are a hypocrite.
            deal with it

          • MEP325

            And you’re a bitter, hate-filled person with the emotional make up of a 12 year old who cannot tolerate anyone who has a different view. Must suck to be you

          • Gay Veteran

            project much?
            now who is getting their panties in a wad, eh

          • MEP325

            Pfft…. that’s all you got? Weak. I was making an accurate observation based on your posts and remarks. Judging by the responses from other commentors to you, I would say they agree.

          • Gay Veteran

            yep, now who is getting their panties in a wad, eh
            run along little hypocrite

          • MEP325

            Is that the only card you have in your deck? Oh omnipotent one with psychic waves and a crystal ball? Pfft

          • Gay Veteran

            once again, now who is getting their panties in a wad, eh
            run along little hypocrite

          • MEP325

            Oh yea, my feelings are soooooo hurt because of some internet troll who took my original line and can’t come up with anything else. Gimme a freakin break

          • Gay Veteran

            awwwww, MEP325 still has its panties in a wad.
            give you a break? someone needs to give you your meds

          • MEP325

            Whoa! Did you finally come up with something new? How long did it take you to think of that?

          • Frank C

            Then why do YOU?

          • MEP325

            Paying it forward and giving him a taste of his medicine and see if he likes it.

          • greanfinisher .

            Technical college courses? Well, I suppose that would be fine for those poor smucks who don’t mind finding themselves perpetually indebted, and laborin’ on some fricikn’ $10.50/hr CNC mill in some hole in the wall sweat shop. On-line certifications? Those would be valuless without hands-on experience. Start a business? Most that do quickly throw in the towel. As far as the computer repairs are concerned, there’s simply no money in it these days as the hardware is becoming increasingly unserviceable. In fact, my computer repairman had just folded his business, and is now a minimum wage employee of a local jewelry store.

          • Mike B

            Who repairs a computer? You throw it out and buy a new one.

          • Alwaystomorrow

            Then chuck that plan and devise one that works.

        • Alwaystomorrow

          As skill sets demands change one must expand their knowledge base to maintain value to their employer
          or loose their job and complain about how bad things are.

          • Jason

            I’ve heard of losing a job. Never heard of “loosing” a job. How does someone “loose” something. Does that mean if it is not tightened down and is “loose”? And why do you young kids keep using “loose” for “lose”? Is this some new-fangled English they are teaching in all the schools these days, in order to dumb people down?

          • Gay Veteran

            well why don’t you explain how 10s of MILLIONS of people can “expand their knowledge base” and get a job

          • Watchman

            That troll can’t. It’s going to be hilarious to watch him lose everything.

          • Alwaystomorrow

            You got the “expand their knowledge base” part that I said but did not get the “maintain value to their employer” which implies you already have a job.

            My employer offers 100% cost reimbursement for any courses, training etc. that’s relevant to your field of employment.

            Doing this increases your value to the company thus the company reciprocates. The next thing you know the people who chose to not expand their knowledge are making many thousands of dollars a year less than you are.

            Everyone can come up with dozens of reasons why it is impossible to live comfortably in today’s economy.

            I cant, it won’t, not in this part of the country bla bla bla.

            As you can see from the content of my blogging I am average at best, maybe. ;-).

            I live a very comfortable life never with any financial concerns whatsoever. So people can say and think what they want about me.

            I will keep on enjoying my life and living better than the majority of the naysayers that I encounter here.

            A nice inheritance helps some too. 😉

          • Gay Veteran

            people are unemployed because the corporations shipped MILLIONS of American jobs to Mexico China, India, Vietnam, etc.

            doesn’t matter how much education or skills you have, there are NOT enough jobs for the 10s of MILLIONS of unemployed Americans

          • Alwaystomorrow

            I understand that. Before working where I am now (for 11 years) I went through 4, yes 4 plants closings.

            Luck, connections, and hard work made it so I was never out of work more than 2 weeks.

            I guess the way I look at it is someone had the opportunity to fill the job I am at now but didn’t.

        • laura m.

          Jazz, Agree! I say get a skilled labor job like my family members for ex: semi driver for Steven’s trucking, pays for driving lessons, cousins uncle owned w/ two sons XYZ trucking (livestock) bro. (dec) plumber, hubby (ret.) HVAC, friends sons aircraft mech. Friends: several are radiation techs, dental hygienists, truckers,etc. These are jobs that stay in the USA. On retail: I and others noticed that summer sales and clearance (like last winter sales) are dragging. I went to O’ Navy and stuff was marked down, good items cheap, hardly any one buying, some over half off. Ditto lg. dept store w/ Izod , etc. same issue. Cars financed for 5-6 years now-crazy!!

          • Gay Veteran

            I’m sure there are 10s of MILLIONS of jobs available!

          • laura m.

            You ignorant socialist bum, get a damn job and get off the dole. get trained in a trade and move out of your mom’s basement.

          • Gay Veteran

            you fat cow, I have a job and a condo

          • Alwaystomorrow

            Hay hay now. Remember your heart. 😉

          • none

            Stevens trucking is a bottom feeder. They take advantage of ùnemployed people. A lot of trucking companies are paying $84. Per week after 7 days.
            I earned that much last year driving for SWIFT. That is why trucking companies can not find anybody.

        • Gay Veteran

          BS

        • none

          They should try to land a job building housing for illegal immigrants!
          President Obama has finally been able to get that through Congress.

        • Mike B

          What skills EXACTLY does this economy require? Posting selfies isn’t exactly profitable unless you are Kim Kardashian.

      • John Byde

        Isn’t it 142%?

        • Vercingetorix

          No, that’s the percentage of the vote Obama got in the last election in some districts.

    • Bob332

      The Obeyme Plan….chaos & anarchy.

    • SunnyFlaSnotress

      Everyone around me either has a job or they’re on disability or retired.

      • Watchman

        Sunny your job is being a troll so stop pretending like you are an average “Joette”.

        • SunnyFlaSnotress

          Watchmonkey, sorry if I counter your gahy lover, but I’m just telling it as I see it.

          • Watchman

            Telling it according to your handlers. Tell us something that isn’t already known.

          • SunnyFlaSnotress

            I told your keeper to not give you his banana this week.

          • Ncmist

            And you live in China, right?

      • retired22

        They must be Strange birds if they are around you!

        • SunnyFlaSnotress

          I guess you are one of those unhappy people that live by the po’ folks.

    • Perry R Stanley

      Winnie included in that figure of 102.6 million are retirees and people on disability but whatever way you look at it that’s 32% of the population.

    • Rick

      Winnie, your calculations must be a little fuzzy. Are you using the old math where 2+2 =4? That’s pretty intolerant of you, and politically incorrect as well. Get with the 21st century math where 2+2 can = anything the government wants it to equal.
      Party pooper!

    • Bobby Bill

      revise your concluding stats to exclude children, prisoners, and the disabled.

  • Liberty First

    They say there is no inflation. The grocery store around our house has been consistently raising its prices, slowly, but surely. Today I noticed once again that they jacked up the price of a particular brand of hot dogs another 5 cents. Coke has been doing the same. Come on, people. Prices are going up. The companies have gotten wise as to how to acclimate us to this slowly, but it is definitely happening.

    No inflation? On what planet?

    • GSOB

      Turn it into an exciting challenge, a life to heroically endure. Go the extra mile, tighten that belt.
      Stay ahead of it, you’ll be fine.
      Live below your means.
      Mind over matter.

      • GSOB

        Rock of Ages, cleft for me,
        Let me hide myself in Thee;
        Let the water and the blood,
        From Thy wounded side which flowed,
        Be of sin the double cure,
        Save from wrath and make me pure.
        Not the labor of my hands
        Can fulfill Thy law’s demands;
        Could my zeal no respite know,
        Could my tears forever flow,
        All for sin could not atone;
        Thou must save, and Thou alone.
        Nothing in my hand I bring,
        Simply to Thy cross I cling;
        Naked, come to Thee for dress;
        Helpless, look to Thee for grace;
        Foul, I to the fountain fly;
        Wash me, Savior, or I die.
        While I draw this fleeting breath,
        When my eyes shall close in death,
        When I rise to worlds unknown,
        And behold Thee on Thy throne,
        Rock of Ages, cleft for me,
        Let me hide myself in Thee.

    • joe

      Oreos ….2.99 a couple years ago, blew through 3.49, 3.99 … now the price says 4.39 but on sale for 3.99 ….. (Walmart still has them cheaper ….but…..not everyone has access)….

      • Alwaystomorrow

        Show Nabisco who is in charge. Eat a banana and save, plus it’s healthier.

        • Malcolm Reynolds

          Applying your little brand of genius to toilet paper, that’s producing smaller rolls, fewer rolls, and narrower rolls, we’d all be wiping our a$$es with banana peels before you took notice.

          • jaxon64

            good one Malcolm—some people miss the point so consistently they must be just plain stupid. Nobody is that deliberately obtuse.

      • Liberty First

        Nickel and dime stuff, but they are definitely beginning to ratchet up.

      • True Grit

        The cool thing is that there is a breaking point. No one needs most of Nabisco’s products and sooner or later they’ll hit a price point that no one will pay

  • GetReal4U2

    it’s hitting the fan…sadly…some can’t smell it yet…

    • Alwaystomorrow

      Why not start by turning the fan off.

      • retired22

        It would be a far better thing to just turn you off.Sooner or later jerks like you destroy a comment section.Serious people come here in the hope of finding possible answers to real issues.What do they get? They get you playing games like some teenager looking for attention from the grown ups!

        • Alwaystomorrow

          Maybe the answer you ar looking for can be found through me, lighten up and joke and enjoy life. I am happy, are you?

        • Watchman

          That’s why they are the typical trolls and act according to their handlers only. I have listed them above.

    • Watchman

      The trolls smell it but their handlers keep telling them to post “Hope and Change”. These same trolls include:

      Alwaystomorrow, Jazz, SunnyFlaSnotress (some morbidly obese woman) and others.

      • Jazz

        The trolls are right and you can smell it! Long live the trolls

        • Watchman

          Trolls up-voting fellow trolls. Hey Jazz so how are those DIJA predictions and S&P predictions coming along? Many will be laughing when you lose everything.

          • Jazz

            The Dow and S&P predictions are doing just fine. We are still heading toward new highs as I have been predicting! The bull market’s not dead!

            Unlike those calling for a market collapse or the S&P falling to 1400 I’m a helluva lot closer to reality. I called the August bottom, a retest of the low, and higher highs by yearend. So far I’m 2 for 3 and expect to be 3 for 3 by yearend. Just watch and take notes 😉

          • MaxRockatansky33

            Don’t be too greedy or too haughty. You may loose everything when you aiming too high or are too confident. Just like mr Jordan Belfort.

      • Alwaystomorrow

        Thank you for putting me first.

    • Jazz

      Lmao. Calling me a troll because I’m right? I love it. Well
      While you sit in your bunker waiting for the sky to fall I will go on making money in these markets :)

  • diem

    Austin, Texas is one of the best economic area, but you go around almost every red light you will see a lot of white people asking for help (homeless) almost everywhere which I had never seen it before when I was in UT Austin. I went back at least one a month visiting family and every time I saw more and more homeless people living under the bridge. It looks so sad that our American country is going down hill very quickly but no one is really care. I am very quietly prepare for the worse for my children and luckily we had live in very small city and out of the city area. To me I had so much experiences of living from the third world myself, but my kids born and raise here may be they are not be able to survive.

  • DJohn1

    This is the fault of the Democrats.
    They have consistently been lowering the amount of discretionary income for the average person in this country for the last 8 years or so.
    Who do they think pays for Obamacare Health Insurance premiums?
    It is the average person out there and the effect is the income set aside is coming right out of the net income of every paycheck.
    That is what is happening to the average every day person.
    And that effects just about the entire population of the country.
    You want to know where the retail business went? What I mentioned above is the reason it has happened.
    It is not the only factor. When the country is run by fools that print money out of nothing to back it up with, something has to eventually give.
    When the average person out there does not get raises to compensate for inflation then there is a discretionary income problem and it comes out of the profit margins of every company servicing the retail market out there.
    When they deny raises to people on pensions like Social Security the lack of money comes back to slap them in the retail business. Because people no longer have the money to buy things they had just a few years ago.
    The COLA has changed and it is not a good change.
    You want to bring the economy back then you had better put a good businessman in the White House and back it up with good business people in the Congress, enough so that they can get things done.
    That person better be a good negotiator. A good negotiation means both parties come away from the table with at least a little bit of what they need to live.
    I think we need to tear down the complicated affair that has become big government with big bureau agencies writing countless meaningless regulation so no one actually can figure out what the law says except the bureau itself.
    That is going to require a lot of game changing in D.C.
    Our entire military complex is logistically a nightmare.
    When one ship costs a billion dollars and one submarine can sink it that costs a fraction of that, we are in trouble.
    When they go with expensive vehicles like they have recently in the past and that is without practical armor, there is a problem.
    When we treat our returning Veterans like they are nothing but crap then there is a problem with respect and honor for this country.
    When only a small fraction wants to get rid of a monstrous agency financed by the Federal Government then we have serious issues with people not wanting to get involved under any circumstances and these are your “good” christian folk?
    It is time to turn it all around. Because the current crowd of Christians don’t have the stomach to do so.
    The current crowd of “Christian” Republicans are negotiating with the Devil and often they do not even realise it.
    Or they do realise it and continue to do so anyway. We need to judge them by their fruit not their words.
    Other countries have gone down to destruction because they will not change their ways. Let us hope this country is better than that.

    • Letfreedomring

      We were given notice the 1st of September that on Oct. 1 our rent would increase 50% due to new owners and it did. The lunchmeat I bought last year for $2.49 a package is now over $4 so I no longer buy it. The cost of everything is going up, up, up. While I am so very thankful to have a stable job, the miniscule pay raise this year doesn’t even come close to keeping up with the cost of living. Each of the past few years our standard of living has gone down even though we make more money. I’m not normally into conspiracy theories, but I am beginning to wonder if this economy isn’t all being orchestrated to bring down the American people and make them more controllable. People seem to be more depressed, anxious, angry, and hopeless and in talking with others, they admit those feelings but can’t put their finger on the why. Thankfully we put our hope in Jesus and not in the things of this world. It just bothers us to see so many folks suffering who live in what used to be the “bread basket of the world.”

    • Gay Veteran

      psssstttttt, democrats = republicans

      don’t you get it yet?!?!?!?

  • TimeHasCome

    My college educated son at 24 waits for day labor work at Labor Ready . He gets there at 5 AM and the place doesn’t open till 5:30 AM . Thirty other guys there some since 2:00 AM . He waits for hours to get a chance at a half days labor . He averages 12 to 20 hours a work a week doing this .
    Bankers, Politicians, Rope , Tree , some assembly required.

    • danbax

      he should go to all the staffing agencies instead of Labor ready. you get more permanent work and more hours.
      send a reply if you need any help finding where to go

      • TimeHasCome

        Thank you danbax

    • Jonathan Scheets

      With all due respect, college education doesn’t guarantee a job. I went to college with some not so college ready people and yet they got through due to grade inflation and a broken higher education system. I’m the same age as your son and have not had trouble finding work. It’s a matter of selling yourself. The job market is tough, but opportuntity is still there.

  • lmaoLMAOlmaoLMAOlmao

    it is frustrating that it is soooooooooooo slow, would be nice to know where/how it ends…….

    • Be patient little Padawan, things will unfold fast enough soon. The faster the gravity of the situation increase, the faster things will go down… the Law of Gravity is a beautiful thing (thank you Newton) :-)

      • Alwaystomorrow

        Joel, Newtons 3rd law or motion is what sosw things down.

        For every action there is an equal and opposite reaction.

        • aaaah come on don’t be so picky… just kidding :-)

          • Alwaystomorrow

            Me too, :-)

          • This being said, I don’t understand why people find it so frustrating that the collapse did not happen yet… as if it was something they wanted to happen. Gosh, with all the crap and shamble it will create, I would prefer things to last as long as possible.

            in the meantime, people should really stop fearing for everything, and live their life. Every day its own troubles and challenges is enough for me, especially when you realize that today could be your last… so why on earth fearing for what will happen in one month, one year, 10 years from now…

            As you pointed out, paraphrasing you here : prepare, be ready, and life goes on.

          • Alwaystomorrow

            Exactly.

            At least a few get it.

            Enjoy your day, I am. :-)

  • countryangel

    The builder’s are even getting creative. One in Phoenix is offering to pay start up and management fees for three years if you purchase one of their new built homes. Lender’s are also now outsourcing doc processing and underwriting processes to overseas companies. A national insurance agent outsources his phone calls for business to the Philippine’s. When I asked him about not keeping money in the US where he earns it, he told me that was not his problem. Greed seems to pay and the middle class keep following. Keep prepping

  • 1.75 = feet per person in line
    47,000,000 = people on SNAP
    82,250,000 = feet of breadline
    15,577 = miles of breadline

    • GSOB

      SNAP recipients divided among 5,000 Walmarts = 9400 of them per store across the USA.
      How’s that for streamlined efficiency?

  • Mike Smithy

    Considering that bad news is good news in the new normal, Walmart stawk should be at an all time high with Goldman/Sachs buying that crap hand over fist. Seriously, can anyone explain to me why the Fed proxies to include the PPT aren’t propping up Wamart like they do for other failing entities?

  • Rick

    You ask why WalMart and McDonalds might be doing so poorly in the midst of an economic recovery? Well of course it’s because now with this great economic boom, people no longer have to eat crappy food, and buy cheap products. We are spending our new Obamacare saved dollars at finer more expensive establishments. Those bailouts, TARP, and QEs have kicked in. Aren’t you thrilled that obama has transformed us, United us again as the great economic and military power we once were. He’s resestablished that moral foundation again that had been crumbling under so many administrations before him. He’s put Muslim Brotherhood chumps I mean champs in charge of important agencies. And they mean business. They take that old saying, “heads will roll” to a new level. Doesnt it just make you proud to be an American with a leader like him?

    • Mike Smithy

      Outstanding narrative. Your “spin” talent should not go to waste. Have you considered applying for a job with MSLSD, CNBS or President Zero’s Administration.

      • Rick

        Mike, glad you found it amusing. I would love to do more writing/blogging, but who has time these days… We are all working 2-3 part time jobs to keep our intact heads (for now) above water. Hey, all the best to you!

  • Jazz

    Lol global recession? I’m literally laughing out loud. The stock market KEEPS going up because there is no recession anywhere in sight. Consumers are more confident than ever and spending tho somewhat spotty is still very robust. This economy is chugging along just fine. Some people that don’t want to work may be in a recession but the rest of us are thriving!

    • HeyAHuman

      In case you didn’t know, the stock market doesn’t account for the entire economy. And it can be easily manipulated. Quit grasping for straws. We are in a global downturn, regardless of who feels it yet. Welcome to reality.

      • Jazz

        Well for your education, the stock market tends to be a leading indicator predicting recessions. It goes a little something like this… Profits decline, stock prices decline, companies layoff workers and/or stop hiring, more people are out of work and spend less money creating the recession. None of this is happening. In fact it’s quite the opposite lol. Global downturn. Lol I’m still laughing!!!

    • MaxRockatansky33

      Numbers numbers. Nothing but a lies. Go on the street and ask the People. Not bankers, economist or talking heads. Consumers are more confident? You mean mr Smith making his shopping in Walmart or mr Fatso buying a new yacht after making more than 100M in a posh Wall st fraud. Just like wolf of Wall st.

  • Jazz

    Wait. Here comes the collapse. Oops we missed it! Stock market now inching closer to the level prior to the August “correction”. As I have repeatedly stated. This is a repeat of 2011. A big correction followed by a strong 4th quarter rally. It is playing out EXACTLY like 2011. We are onto to new market highs and 2016 should be a fantastic year for stock market investors!!!

  • Priszilla

    Maybe squeezed from two sides. Those who fear a recession is coming and try to save something before being laid off. And those who have no or little income and can’t buy anything.

  • JPS

    Common sense? Okay, I’ll use it. Perhaps McDonald’s and WalMart are performing poorly because they suck. People are shopping at Target, Kroger, Trader Joe’s, and other regional stores as opposed to WalMart. Culver’s, Five Guy’s, and In-and-Out Burger blow McDonald’s out of the water and are always full. Correlation does not imply causation, i.e. the poor performance at these companies does not imply a collapsing economy. This has been this guy’s logic since the beginning. If I used this type of reasoning on the flipside, I could argue that the economy is doing great because airlines are posting record profits. Think for yourself people.

    There’s my common sense. Thanks for the inspiration.

    • alan

      In Korea you see construction cranes all over the place. Samsung is building a city south of us for something like 80,000 workers at their new plant.

  • ali

    you blog is becoming repetitive and boring!!

    • Stop reading it…

      • Jazz

        Or come up with more realistic content. The economy is obviously not going to collapse anytime soon. It’s starting to sound like chicken little. The sky isn’t falling! We had a minor correction and now things are back to normal.

        • Still, it does not prevent him to stop reading it if he does not like it. Why does people complain about this blog, no one ask them to come and to read it after all. It’s like a radio or tv, just switch it off.

          By the way Jazz, I wonder, what are you doing here anyway – I mean on this blog? Like Fwalker15, what’s the point of you being here since this blog is not even your cup of tea? I don’t really get it, unless like some says down you are a troll.

          If you are one, let’s be honest you are a strange one at that :-)

          • Jazz

            I obviously read the articles. I never said I didn’t have interest in the material. I agree with the principles taught here about being prepared for a collapse because NONE of us knows when it will come. It could be tomorrow or five or more years away.

            There is often very good content here but sometimes it can lose impact because the imminent threat never comes to fruition. I don’t agree with the timing of this said collapse coming any moment. If you have a warning every day it loses credibility. It has been an imminent threat for a long time and there needs to be some balance.

            I personally think we are only in the 6th inning of this disaster with at least 3 more innings to go. I have said many times I see an economic collapse coming down the road but I expect it to be many years away because the US is in solid shape compared to the rest of the world. Unless we see a black swan type event I expect any collapse will be a very slow demise over many years.

          • Alwaystomorrow

            Hence the countdown. 😉

          • Thanks for your answer. Understand you better now hehehe :-)

            What you say goes along what I said with other words few months ago (other saying the same as well with their own words). I absolutely believe in a enormous collapse, it is unavoidable. But a collapse takes time to unfold, unless a disaster of strong proportion.

            Most often people takes the Roman Empire as an example of collapse for good reason. But they often forget that it took decades for the collapse to reach its peak.

            I don’t think the USA will last as long as the Roman Empire, and truly new strong nations are in the making but the US are not dead yet.

        • MaxRockatansky33

          What is normal to you? 20% Unemployment is normal? Or more than 100 millions in working age but without work or working less than 20 h a week? Things are back to normal for fat cats from Greed St but not for normal people!

  • stroea

    And yet, the DJIA, as well as other stock indices, has risen. And I learned this morning that the reason Walmart’s stock is down is because they decided to raise wages across the board. What gives?

  • Steeve Girard

    The reason why the frogs do not know they are being cooked in boiling water, is because the water has been heating up slowly enough.
    And yes, we are in a recession, but is is not a consumer driven recession. It is a seller driven recession. Commodity crash cause sellers to hog the goods until they can sell em at higher prices.

  • sherlock32555

    You just got to love it when the government can supply help to others that come in here but not for the Americans. The only way to stop this is to cut the government from spending our money is too stop paying our taxes. They can’t arrest all of us! It is up to us!

  • Dennis Fales

    Save us Obama!

  • greanfinisher .

    Yes, you’re correct as it’s currently 22.9%.
    Either way, we’re still mired in the Greater Depression.

  • Mike B

    McDonald’s and Wal-Mart deserve to die.

  • Gomer Wumphf

    Given the state of the economy what could possibly be more moronic than to increase the cost of labor. And guess what Democrats are doing!

  • John

    Although a job may not totally sustain you or your family through the next down turn, it’s better than nothing. Try to secure any kind of employment for the foreseeable future.

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