...............and the jobs keep vanishing rapidly.

[kentuck]

How long can this continue? Americans lost another 663,000 jobs this past month. This problem is already at the critical stage. Where do the new jobs come from? Even customer service jobs are consolidating their jobs to more centralized locations. With much of our manufacturing base now moved out of country, what can we expect these new unemployed to do? How do they live?

[NightWatcher]

1. but the Dow went up yesterday, we're all gonna be saved

:sarcasm:
Some industries are hiring: Suicide prevention hotlines, home cleaning/foreclosure services....

[Oregone]

2. "the depression is over" - Jim Cramer

[leftofthedial]

3. Quick! Give the banks another couple of trillion bucks!

And someone throw a virgin into a volcano fercrisakes!

[Double T]

4. Not to worry, Jim Cramer of cnbc told US that the 'depression' ended yesterday.

Next month the 663,000 jobs lost this month will be revised upward to over 700,000 jobs lost for March 2009. The depression has only begun. As long as wall street, corporate america and our government continue to move jobs to slave wage countries, there will be no recovery; things will continue to become horribly worse. Let the happy talk and the irrational delusion continue; one day we will wake up and our country's economy will have totally collapsed. Mad Max america is just around the corner.

[nancyr]

6. It has already collapsed....

some people just don't quite realize it yet.

[Double T]

7. We haven't even begun to see collapse; food riots and mob rule cometh.

[cliffordu]

13. Yep. Everytime I run my speil on this I get called a tinfoiler....

But I'm thinking THIS "reorganization" is going to be breathtaking...

[Initech]

19. Jim Cramer is a fuckin' idiot.

[OHdem10]

5. Keep in mind and never forget. The Banking Crisis has not caused

all these job losses. Globalization is responsible for much
of what is taking place with unemployment. In Globalization
the salaries in all countries must be harmonized. American
Salaries are being harmonized DOWNWARD in order to level
the playing field. Actually, Globalization has failed. It
was the so called intention of "Free Traders" that other
developing countries would harmonize their salaries upward.
Remember the grand promise of Nafta. Things got screwed up.
Most of those jobs we sent to Mexico got sucked right out and
sent to China(even cheaper labor).Mexico has been in a "great
depression" ever since. During the campaign the candidates even
admitted Trade Policy has not worked out as planned.

At some point, our leaders are going to have to admit our
country has changed. Yes, the Banking Crisis was the catalyist
to bring the job loss. We will be losing jobs long after the
Banking Crisis has been fixed.

When people get jobs, these jobs will be at much lower salaries.

[anaxarchos]

12. Exactly right...

1) Outflow of capital leading to outflow of jobs and stagnation of real income.
2) Consumer debt followed by declines in home equity to prop up consumer demand.
3) As debt gets funkier, more and more new "financial instruments" to keep it flowing.
4) Lack of consumer market drags capital into credit bubble, followed by inevitable collapse.
5) Huge bailouts to slow down the unraveling and prop up the "financial sector".
6) Large government spending to maintain "aggregate demand" in the "interim".

"Recovery" restarts this process at #2, but with a few new problems because the "crisis" is both cyclical and "fundamental":

1) A retraction of "demand" with 9 to 15% unemployment (depending on how it is calculated) and the contraction of "credit".
2) Inability to maintain artificial demand ("stimulus"), forever.
3) As credit "recovers", a need to suck the few trillion dollars of new cash back into the Fed, lest the dreaded "inflation" arrive.
4) Ironically, the negative impact of "regulation" and a financial "shakeout" (no matter how necessary these may be) on leveraged "demand".
5) Taken together, a decrease of the ability to repeat the "anti-recessionary" measures just as such measures become more necessary.

This is why so many have talked about an "L" shaped recovery rather than a "V" or "U" shaped one. Richard Nixon would recognize this. It is his "stagflation", returned on a titanic scale.

The question is going to be, "Recovery for Whom?"
That's if this has really "bottomed-out", which is anything but clear.

[bvar22]

20. NAFTA didn't fail.

It worked PERFECTLY, exactly as it was designed.

The Wall Street Bailouts are working perfectly too.

[C......N......C]

8. There are more and more effects coming. I have friends in business

that have both pagers and cell phones, they are dropping their pagers. We had a land line phone number for 17 years, we had to drop that and just use cell phones. We need the cell phones for business.

[Towlie]

9. Pagers? You're kidding! I haven't seen one of those since the 1900's.

[C......N......C]

16. I and some of my friends work on tugboats and other transient traffic

boats and had pagers, just kept them because they were so cheap phones got so tore up or wet working on boats. Now that everything is getting so tight we have been getting rid of the pagers. Used mine attached to my truck keys, call the pager and find my keys. No more . LOL

[Winterblues]

10. Two million jobs in three months

Maybe we should give the Billionaires some more money so they can hire more people...That is what Republicans are proposing anyway..

[jwirr]

11. Robert Reich's blog is officially calling it a depression.

[KG]

14. Thank Gawd It Passed! or things would REALLY be fucked up!

:eyes:

[datasuspect]

15. "y'all chill the fuck out, I got this!"

i think there might be money in suicide cleanup services.

i wonder if i can get an SBA loan for this.

[OhioChick]

18. Funny you mentioned that....

Here in the Cleveland area, I've seen commercials running frequently advertising "clean up" if a violent crime or suicide happens in your home. (This tells me that there's a market for this sort of thing) In the commercial, they state that "they'll clean up so you don't have to when you return home."

Can't remember the name of the company. I'll have to see is I can find out who they are.

[Juche]

17. No idea what to do

I have heard this recession is supposed to end in 2010 or 2011, but half a million jobs a year is equal to the unemployment rate going up by roughly 0.5% a month. I have heard people predict it will stabalize at about 10%, but that is only another 3 months of job losses like we have seen.

[leftstreet]

21. kick

Good info in this thread

[Urban Prairie]

22. Must be mostly conservatives

Who are committing hara-kiri when they lose their jobs, and cannot obtain another. After all, it would be pure hypocrisy to accept...ugh...long-term "entitlement" assistance from the government. I get the impression that those "personal responsibility" boasting RWers who still have jobs push tax cuts for the wealthy, and increased defense spending in order to further pressure the federal government into drastically cutting, or better still, eliminating extended unemployment benefits, SS, SSD, SSI, welfare, ect... If a third or more of the US population were to perish, become homeless, or captured and imprisoned, due to turning to crime to survive, I am sure that these people could not care less, as long as they and their monopolistic global corporate capitalist heroes will prosper as a result.

[SoCalDem]

23. It will continue until the banks all fess up to exactly what trash they have in their basements

If liquidity makes the world go 'round. no amount of taxpayer money infused into banks will "save" the overall economy.

In a 70% "service" economy,. it only works as long as the multitudes go out shopping EVERY DAY...EVERYPLACE..

One break in the chain, brings the whole thing down..

A guy at Sears loses his job, and the family quits going to the movies, they stay away from the donut shop, they do not buy the kids those new bicycles, the wife starts cutting their hair at home, they don;t eat at restaurants..

Every business they frequented, starts to feel the pinch of their lost business from that family, and the many other families, and soon they lay off too, and the circles gets wider and faster...

Once in the vortex, it's almost impossible to get out,,

UNTIL.. the DEMAND comes back..

and demand will not come back until people have RELIABLE paychecks again..and enough money to catch up their missed payments, replenish or start some savings plan, and feel comfortable again..

It's a chicken-egg dilemma..