Wait until those U.S. companies begin their layoffs and watch what happens to the DOW

[ffr]

I remember 2007 - 2008 when assets were labeled TOXIC. Then came the job losses of 700,000 per month. Then came the housing crash, because without jobs and with investments tanking, people got kicked out of their homes.

And what is consumer debt at these days, anyone check? Oh, it's at an all time high! It's the perfect storm.

Everything is not fine.

It's going to be a domino effect just like the last GOP recession/depression. That's unless some goods news happens to turn around the spreading Coronavirus.

[Karadeniz]

1. If it takes the collapse of our economy to turn his base against Trump, that's a smaller price to

Pay than the collapse of the constitution, the government, and a decent world order. The economy will eventually recover.

[elleng]

6. Right

[LizBeth]

13. Right. It is going to happen eventually. Always does with Republicans.

Better now than two years from now with Trump still in office. The numbers are showing a decline as it is but he can still say economy. Better if he can't say that in GE.

[captain queeg]

2. I might be right for once.

I pretty much am always wrong as far as the stock market goes. The only interest I directly have is my 401k. I managed to get out of stocks in time for the 2007-2008 drop but I’ve stayed out since and missed the booming market the last 10 yrs or so, but it’s looking like a good thing right at the moment that I stayed out. I was expecting a rebound today but it’s been another really bad day. Might be a trend.

[LizBeth]

3. I am behind. What does Coronavirus have to do with markets and where are you getting

this massive lay off going on. Once that happens, I agree iwth what youa re saying, but why are you seeing massive lay offs. And when.

[ffr]

4. Welcome to DU. Do you have Internet or a TV or a radio to listen to?

The Dow Is Down 900 Points After the CDC Warned That Coronavirus Will Hit the U.S.

[LizBeth]

10. No TV or radio. I thought I could get info here. Thank you for the help.

I thought maybe someone might explain it a bit as the person below you did. I do not know why the need for snarky. I just wanted some info regarding the comments you put out.

[empedocles]

7. Chinese supply train interruptions for many products, mftg cutbacks, etc.

Earnings, payrolls, consumer buying down.

[LizBeth]

11. Thanks. This makes sense. You made it way easier than me finding the path to what was

discussed in the OP. That was exactly what I was looking for. I appreciate it. I guess I am in trouble for asking.

So are they already seeing the interruptions in products or is this a projection. Again, looking at time line. Not challenging anything.

[CaptYossarian]

5. Don't worry about 700,000 layoffs per month.

The WH will fudge 250K new jobs when the layoffs are really happening.

Just like when the 1% refer to their future slaves as "volunteers".

[Wellstone ruled]

9. That is interesting.

This friggin Administration has been issuing bloated employment numbers from day one. BTW,the main number used is a Payroll number by ADP which only does payrolls for less than 20% of the Companies,and this number is worked into a Algorithm in order to determine some number to their liking.

And yes,Sunday I said a fifteen hundred drop,we are at nineteen and change with Bloomberg as well as Schwab in a E-Mail a few minutes ago,this is not over. Once the US layoffs pop by week's end,hang on,the Bear is running the show.

[CaptYossarian]

15. With the news of Retail's slow, lingering death and the loss of manufacturing

jobs each and every day, how can they justify their "happy news" and lies about this economy?

All you need to pay attention is driving home holding onto that pink slip. Not to mention the 85% (my estimation) UNDERemployment rate. Of course, I'm in the Upper Midwest, where the recession never ended.

Wisconsin had a succession of Dubya/Walker/Trump with some overlap. Snotty was the antidote to Obama's efforts. Our economy looks like Puerto Rico's infrastructure--except for Dane County (Madison). But there are 71 suffering counties here too.

We have Evers now as governor, but with the same Gerryclustered legislature and criminally insane Supreme Court.

Well, as long as the Kochs got their tax breaks. That's more important than 5.6 million peasants.

[Wellstone ruled]

16. I feel your pain .

If you in Dane/Madison are having a tough go of it. Can not image what is happening in Green Bay/Brown County or over on the North West side,where most folks either work the Cities for real wages or the Friggin Casino's for part time minumum wage.

The SIL's Company recently closed two Paper to Print plants in Little Chute,and Nekoosa Stevens Point area. Those jobs went to South America and China. They are in the process of closing a major Cleveland operation as we speak. Again,that work will go to Mexico.

P&G are also closing a Paper operation some where near Green Bay. Kimberly Clark,Kleenex is closing three plants total,Menominee Falls,Nekoosa,and a plant in Maine. They might be cold by this time,that notice went out last September.

Watch most folks do not understand when these jobs go away,six other jobs on Main Street go as well. Problem with the Pulp and Paper Industry is,the raw material has become to expensive because of the low yield Timber Forest of Wisconsin. Same is happening in your Neighboring State to the west.

[CaptYossarian]

17. A lot of my working-class peers went to the Twin Cities.

That's why when Target had that Minnesota Badgers onesie last week, I thought it was a legit product.

Snotty Wanker caused a huge exodus of people--and now they either have a better wage or cheaper Obamacare, because MN took the Federal money and WI didn't.

[Wellstone ruled]

18. Yup,

one of my Brothers lives in Barron County. Being disabled and living in Wisconsin is not a good trip in life. And he being a Winger had to get the Walker Club up side his head before he finally figured it out,and that only happened when he ended up in the ER with a ticker problem which cost him his CDL because of health test failure.

Remember his first Food Stamp issue was some where around 2 hundred or so a month. Now it is 16 bucks. Hard lesson to learn. My guess is,there are thousands in that same boat. Everything North of Hwy 12 use to be know as the State of Poverty. From the most Progressive State to the Mississippi of the North.

[CaptYossarian]

19. So he converted the "Ed Schultz" way.

Ed was on MSNBC until he went too far left for Comcast and Phil Griffin. He started out as a mini-Rush on radio until his mother got horribly sick and Ed couldn't get adequate care for her. He saw the light and repented for those years of steering people the wrong way.

I was told the Welfare Line was highway 64, where you could get more dollars because prices were higher and scraps--I mean wages, were lower. It might be highway 12 west of the Dells though, and especially north of the Eau Claire-Hudson line.

When Walker's Act 10 was shoved up, well, you know, we started referring to our state as Wississippi. Now test scores are plummeting and miraculously, we have a severe teacher shortage. During Governor Tommy Scissorhands' regime, there were 450 applicants for every teacher opening. Act 10 also screwed over nurses too. Another shortage in an important field. The firefighters are also at a deficit for staffing. They were the third union who gave to Walker's opponent, Milwaukee Mayor Tom Barrett.

That's more than a coincidence.

[Wellstone ruled]

21. Old Eddie fooled a ton of folks.

We did not call him fast Eddie for nothing. Eddie was a true fake from the get go. But,the Rethugs knew he would carry water for them and fashion his On Air Personality to placate the Dems but in the end,would screw each and everyone.

All those Teachers bailed to Minnesota or Michigan and Iowa. But,hey,lot's of Jobs and Menard's or Driving a Laundry Truck for Heubech at minumum wage,oh forgot,ABC Building Centers might have some openings,can not forget Jake Leninkuelles .

notice those I mention. Common theme,all were Class Mates at EauClaire State from 1959 to 1963.

[CaptYossarian]

22. When I didn't get my teaching job, I worked at a call center for

a catalog that sold novelty items. There were 3 published authors sitting in cubicles working 24 hours a week. A few others were also college grads like me. Once in a while you'd see a "Huber" inmate wearing orange under his street clothes.

It was very humbling, but I had to pay my student loans.

[Wellstone ruled]

23. Have to say,worked a call center for little over two years

peddling Satellite and Cable Internet. As well as Electric Power hook ups. Yep,flunked Retirement the first time. Not proud,flunked it four more times since.

Know all about the sucky jobs with a Student loan hanging. Got a Son dealing with that same issue,told him the other day,when you come to visit,bring your info and we will kill that sucker once and for all.

And Employers will not touch you if your Loan Balance outstanding is above a certain threshold especially if you are in arrears.

Noticed that Walker/Fitz disaster called Foxxcon-Job is headed for the dust bin of history. We had a similiar one here called Faraday Motor's . Same bunch of Hustlers just another day.

[CaptYossarian]

24. Foxconn was a disaster from the drawing board on.

WI was giving all those tax incentives, but its location would have benefitted a lot of Illinois workers and we wouldn't get back what we gave up.

The second issue was environmental--they were going to use 1 million gallons of Lake Michigan water PER DAY. The lake is big, but there still must be a tremendous impact on that habitat.

Another issue was the report that came out after all the contracts were signed that the Foxconn workers in China had an exponentially higher suicide rate than the overall public.

It was a stinkbomb on all accounts. Especially after Walker cut $800 million from Education right after taking the Oath.

[Wellstone ruled]

25. Snotty is a real Trip

to say the least. And just was amazed no one shut him and his Frat Brothers down from the get go. My Spouse and I watched our Old Home State drift into the garbage dump with only a hand full of people trying to say the state.

When Obe said enough and retired,that was the opening the Rethugs from Eau Claire and Waukasah County needed to destroy the State. Spouse's Mother was Dave Obe's fathers care giver for a few years until his passing.

Duffy and his Ilk were ready to run a smear campaign against Obe and his partner and Dave said enough,I don't need this,and announced his retirement.

Lot's of Classmates were directly clobbered when Snot Face killed off various State Agencies as well as Education Funds cuts. Most took early retirement and moved out of State. The Brain Drain was massive.

[kimbutgar]

26. I'm surprised though snotty has not ended up in the mf45 administration

They are both shitty people, birds of a feather.


I still have a “I stand with Wisconsin shirt” I wear occasionally. Watching the from California was so upsetting. Seeing you folks protesting out in the snow during the recall was so brave and then snot got saved was so egregious.

[Wellstone ruled]

28. Snotty is part of the Orange anus crew.

He got a cushy job with one of the Historical/Arts foundations. Remember,Snotty has not cleaned up his personal finances yet.

[CaptYossarian]

31. We had a lot of "I Stand With Walker" yard signs during the recall effort.

Our side countered with signs using the same color scheme that said "Stand Trial With Scott Walker". Many of the ones who didn't like Walker, but couldn't find proof of any crimes voted for him during the recall. When he survived that, he was arrogant like when the Senate acquitted what's his name.

The protests drew some great support from Jesse Jackson, Michael Moore, and that guy from Rage Against the Machine. Over 30,000 teachers were there and 10,000 farmers circled the Capitol with their tractors. The striking firefighters withdrew their accounts from BMO Harris because of the bank's support for Snotty too.

Of course, FOX showed rioting in the Madison streets in February with palm trees in the background. I still look for them whenever I'm in town. No luck yet.

[CaptYossarian]

29. I keep thinking about all the crap Walker did in Milwaukee County.

His office had an illegal server so he could campaign for governor. Naturally, the taxpayers funded it. The guy who installed it finished and Walker gave him the "thumbs-up", so Scotty knew it was there and its purpose.

Six of Walker's associates from the campaign and his County Executive office were sent to prison--one and his partner also stole from a veterans' charity--but Walker was never implicated on anything.

We went from a Rhodes Scholar in Jim Doyle to this dirty, sleazy, witless crook, and then back to another moral, intelligent guv in Tony Evers. I'm afraid of what's coming next. That political pendulum might in reality be a wrecking ball (just like the presidency).

[Wellstone ruled]

32. Doyle was a keeper,

have to remember,during the late forties and early fifties,the Wisconsin GOP was the Progressives until McCarthy blew that up. And it has been one stubbed toe after another in the Wisconsin Dems Organization. The Russian Boycott of 1980 shifted the State to the Conservative I hate Government Rethugs. BTW,that was the start of the Midwest swinging to the Right,the Rethugs worked the Rural and Farm Votes to their advantage. And once they replaced all those County Commissioner's from the WW2 crowd with ideologues,you are living with that result. Saw it first hand in Polk and Burnett Counties as well as Barron County. Sanity and fairness was replaced by Greed,Hatred,and Spite. Had three Relatives who were County Commissioner's driven from office by smear campaigns launched by GOP consultants financed by out of State money.

Like mentioned earlier on,the YGOP of the Early 60's milked that opportunity all the way to the Bank,

[CaptYossarian]

33. It's a shame Doyle retired. We once had an okay GOP guv in Dreyfuss.

He didn't hurt anyone, at least. At UWSP, there is a picture of him (as chancellor) meeting with students protesting outside his office. He actually talked to them about their concerns.

After leaving office he would drive all over Stevens Point in his Lincoln Town Car. Being Lee Sherman Dreyfuss, his license plate was LSD. He was the last human we had as GOP guv.

And then came the evil Thompson. He detested public education (and his wife was a teacher). One of my college friends was a Madison native. When Tommy got that Bush Cabinet gig, she said, "I wonder if his mistress is also relocating."

The Governor's Mansion must have gotten a bit crowded.

[Wellstone ruled]

34. Tommy and his Chicky.

Always amazed how that story never left the Mad-town Area. The Milwaukee Newspapers were so compromised by the GOP nothing would ever be printed. Same for the Papers coming out of Superior and Duluth.

[CaptYossarian]

35. In Milwaukee, the combined Journal-Sentinel hired the team of

Spivak and Bice. They were all over Walker and the Fitz boys (and low-life Robin Vos) like clown makeup on IQ45.

If I remember right, the Journal was the conservative of the two papers. It's been about 20 years though since the merger, so I could be wrong.

[Wellstone ruled]

36. We used to get the Sentinel every morning

back in the day. There was a outstate version that was printed about 8pm as the early morning edition. Had one of the best Sports Pages,they covered all the State High Schools as well as the Teachers College League. That was prior to 1961. After 61' it was a St Paul Paper,the Sentinel stopped the Dailies in the North Western Part of the State.

Heard from a College Bud who Interned at the Sentinel about all the merger and changes of direction years later. Not surprising considering how a couple Billionaire Families pretty much run the show in Milwaukee County.

[LizBeth]

14. Bushco was always lying about his numbers and then weeks later the real number would

be told in the passing.

[Grasswire2]

8. Seen on twitter -- economic downturn better for America than 4 more DJT years.

Because a crash will take away his ass-et.

[2naSalit]

12. Brace for impact. ...nt

[Tink41]

20. Too Late!!

It's here already, the economic slowdown not the virus per say. I work in the trades, in 2008 the signs started around August for us. The signs this time started last spring. Construction are the first to go, and last to recover.

[not_the_one]

27. But strangely enough, the people WITH the REAL money will know it's coming,

and will sell their shares in the worrisome companies, so their losses are minimal.

Then they well use their "well saved" (as opposed to "well earned"..) wealth to bottom feed the market, buying those same, previously worrisome companies, at pennies on the dollar. They have probably ALREADY done so.

Win/Win for them, not so much for the rubes who lost/will lose most of their 401ks in the "correction".

That's the way it is SUPPOSED to work.

Isn't the system "grand, Grand, GRAND"? (nod to 42nd Street )

[lame54]

30. Those high stock market numbers are terrifying...

Like 2006-7 they are artificially propped up

[Takket]

37. the company i work for is already very jittery..........

We are worried about trouble getting supplies we need from China and there are already plans to start cutting capital projects. That is money vendors will lose, contractors that won't be hired.... it will all hurt not just my company but others we do business with......... and you can bet other major companies are all in the same boat.