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Thread: Dollars are getting thinner out there... Pt 1

  1. #1
    God/dess Deogol's Avatar
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    Default Dollars are getting thinner out there... Pt 1

    Keep em in your pocket!

    Latest layoff news...



    Hundreds of thousands of white collar jobs....

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    Veteran Member Spankie55's Avatar
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    Default Re: Dollars are getting thinner out there... Pt 1

    my brother got laid off.
    ugh.The world is turning to poo..
    I'm scared
    I is a mommy.
    09.27.09

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    Featured Member Ms. Mia Roberts's Avatar
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    Default Re: Dollars are getting thinner out there... Pt 1

    my aunt got laid off....

    shit is really hitting the fan...





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    Default Re: Dollars are getting thinner out there... Pt 1

    business is booming locally in many industries (though certainly not in construction).

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    Veteran Member Spankie55's Avatar
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    Default Re: Dollars are getting thinner out there... Pt 1

    I'm sure the economy will pick up in the next few years,it just really sucks right now for a lot of people.
    My home town is getting hit hard,businesses are shutting down left and right.
    It really is scary.
    I is a mommy.
    09.27.09

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    Default Re: Dollars are getting thinner out there... Pt 1

    ooh gees
    i dunno how things got bad sooo quick!!!

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    Default Re: Dollars are getting thinner out there... Pt 1

    until dollars themsleves lose value...

  8. #8
    Banned Melonie's Avatar
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    Default Re: Dollars are getting thinner out there... Pt 1

    well, the contraction of the US construction / homebuilding industry arguably bottomed out a year ago - and has stayed at the bottom. The contraction of the US banking / financial services industry is now rapidly accelerating but isn't even close to bottoming out yet. The contraction of US manufacturing industries ( what remained of them anyway ) has been a slow-motion process for many years but recently began to accelerate ... mostly due to the final exodus of 'white goods' manufacturers last year and ongoing closures of 'big 3' US auto plants. Small businesses have also been declining from the effects of an increased minimum wage, increased energy costs etc. None of these developments should have come as a shock.

    However, if there is a 'shocker' in the mix, it is the rapid declines now occurring in the US 'tech' industries. This really shouldn't come as a surprise either, given that the majority of tech company profits stem from business to business sales and contracts (with businesses on the other end now slashing tech spending). US 'tech' companies have also been making ongoing major efforts to outsource both manufacturing and service functions, which ultimately reduces the number of remaining US jobs.



    As for 'shoes that have yet to drop', public sector employment levels have more or less remained stable (or have actually increased) throughout the recent declines in private sector employment. However, on state and local levels, public sector employment levels have been sustained as a result of a huge growth in state and local gov't debt levels compensating for falling tax revenues from private sector sources. Ultimately, state and local gov'ts must balance their budgets ... meaning that after all of the 'band-aid' measures to cut spending and all of the tax increase attempts and all of the attempts to sell more state and local muni bonds reach their limits, that state and local gov'ts will have no choice but to start laying off teachers, police, firemen, social workers etc.


    However, as Adelina pointed out, there is also an available option which involves devaluation of the currency. This is arguably an issue being discussed by the G20 this weekend. Just for the sake of 'fun', imagine what would happen if the US dollar were to be revalued at even a 2:1 ratio. All of a sudden, houses presently worth $200,000 would be worth $400,000 (with mortgages instantly becoming above water again). People presently earning $25,000 would seek pay raises to earn $50,000 (thus turning them into taxpayers and making them ineligible for social welfare benefits, solving the problems of state and local gov't budgets). Businesses with outsourcing contracts or individuals with mortgages / car loans / credit card debt would effectively see these costs cut in half.

    ~
    Last edited by Melonie; 11-15-2008 at 05:05 AM.

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    Featured Member Katherine's Avatar
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    Default Re: Dollars are getting thinner out there... Pt 1

    LOL. The repurcussions could end up being horrendous (how do you spell that word??) but that would be 'fun!' I never thought that scenario through Mel.

    I'm going out to din with some friends tonight and that will definitely be a topic of conversation!

    Sophia_Starina = stripper goddess


    "Guys are so damn lame, the only way they can halfway make up for it is by opening their wallets."

    AznExtasy

  10. #10
    Banned Melonie's Avatar
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    Default Re: Dollars are getting thinner out there... Pt 1

    this latest one will hurt badly ...



    (snip)"San Jose (CA) – Sun Microsystems today added itself to a string of bad economic news in what can only be described as a frightening week. Following Intel’s stunning announcement that it would miss its Q4 revenue forecast and could possibly fall back to Q4 2000 sales levels, Sun today announced that it will cut between 5000 and 6000 positions to “align” itself with the current economic climate.

    Sun said that a reduction of 5000 to 6000 jobs, which will reduce the headcount to about 27,000 – 28,000 people, will enable the company to save about $700 to $800 million per year. The company estimates that total charges relating to the workforce reduction will be about $500 to $600 million over the next twelve months. Sun expects to begin realizing cost savings in the third quarter of the company's fiscal year 2009.

    Sun reported a net loss of $1.7 billion for its fiscal first quarter of 2009, ended September 30, 2008. The company had cash and cash equivalents of about $2.6 billion at the end of the period. Compared to other large IT companies, Sun was among those that suffered the most painful stock declines. In a sample of 23 companies monitored by TG Daily, the company's decline was just behind Nortel and down 83%, compared to its 12 month high, on November 12. Earlier this month, Sun’s market capitalization occasionally dipped below the $3 billion mark in recenbt days. At the time of this writing, Sun’s market cap was about $3.1 billion."(snip)

  11. #11
    Veteran Member justtobenaked's Avatar
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    Default Re: Dollars are getting thinner out there... Pt 1

    this is typical for election time....think about it? It is typical for economy every 8 years or so...still stinks though
    Last edited by justtobenaked; 11-18-2008 at 04:10 PM. Reason: mispell oops

  12. #12
    Veteran Member person's Avatar
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    Default Re: Dollars are getting thinner out there... Pt 1

    SUN have been in trouble for a while. They have a bit of a niche market that's disappearing on them.
    Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor
    - Dr John Zoidberg

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