President addresses horrible slumping econmy and shocking unemployment numbers

Yes abc world news was covering the news that 7million and counting have lost jobs in the new slumping economy. They did not say the total number on unemployed americans they just said that seven million ppl is the total in americans that have recently lost there jobs.

This comes at a time when just about everyone company is laying off. Well the big ones like FORD,CHRYSLER,GM, DELL, Johnson controll. Even name like kelloggs. I mean I reading somewhere where some company was laying off 2000 workers.  All the big boys. Laying off in record numbers and when those companies lay off that affects the little guys and cause them to lay off.

The president said it was shocking and yes americans are out of jobs and they want to try and do something about it.

I mean through the clinton administration we had a 3% unemployment rate.

I wanna see things pic up I mean feds droping interest rate every other minute and it is not helping us at all.

I just thank god I have a good job that is not affected bye any of the markets. Because even with the auto market being down we ship just about everything where I work at so there will always be plenty of work.

the slumping economy is not president bush\'s fault. his cabnet is trying everything to save the economy, but really, the economy has died because it just went through a huge boom, a huge technological boom. now that its calmed down, people are getting scared. so they sell, and once the market begins to sell, then everyone sells. it really isnt his fault. if you know how government works, you would realize that.

Originally posted by Falcon4
the slumping economy is not president bush\'s fault. his cabnet is trying everything to save the economy, but really, the economy has died because it just went through a huge boom, a huge technological boom. now that its calmed down, people are getting scared. so they sell, and once the market begins to sell, then everyone sells. it really isnt his fault. if you know how government works, you would realize that.

UMM I DID NOT SAY IT WAS his fault. Jeesh get a grip I was just posting he addressed the situation. I never said once in my post it is the president fault. I think you should read the post again because your misinterpeting everything I am saying.

the internet and tech stocks fueled the economy. Now its time for things to equal themselves out.

Internet stocks we\'re almost all overvalued.

We had tough times during the late 70\'s into the 80\'s it looks like it will be the same thing  again

The rich get richer, the poor get poorer.

they said hewlette packard/compaq(hp just bought compaq) Laid of 15,000 workers, and mobile laid off 2000. 1500 where laid off of SOME other company I can\'t recall the name.

For all of humanities imagined intelligence one has to question peoples euphoric stupidity towards tech stocks, some of them were weak to begin with.

What did people expect? :rolleyes: I worked for this guy here in Toronto, some rich guy, on Bay street,  The guy was so rich, he got a penthouse in the heart of the city, his VP of marketing was driving his kids to school, and his wife was from Louisiana, (damn she was hot ) I was managing his internet center, and his huge freaking database of potential "victims".
He was spamming 30,000 emails a day, it was ill to work there.

That was 1997,
he said i should let him invest some of my money. So i let him have 15,000 smackers, basically everything i had in the world.

I made a good return in 2 years, got a car, and house out of that 15K. Looking back i wish i invested 100K, if i did i wouldn\'t have to work anymore.
When i cashed out, he said i should stay away from stocks, that was at the end of 1999, i guess he already knew the bubble was about to burst.

My company\'s had a 400-employee worldwide layoff.  Lots of companies doing the same.

Everytime I hear some stupid StaffMark advertisement on the radio I want to smack the ignorant fool talking who has no idea what he\'s saying.  "Get trained and certified in 6 months and get a great job in Information Technology."

Where u gonna get it wise-ass cause in America IT jobs are hard to come by these days.

[Titan]

Thank god that I\'m only a teenager going on to 15. But what will happen when I apply for a job soon? I might not get a decent job. But I have a question about these job layoffs. They are for all companies or just big businesses?

Originally posted by EmperorRob
My company\'s had a 400-employee worldwide layoff.  Lots of companies doing the same.

Everytime I hear some stupid StaffMark advertisement on the radio I want to smack the ignorant fool talking who has no idea what he\'s saying.  "Get trained and certified in 6 months and get a great job in Information Technology."

Where u gonna get it wise-ass cause in America IT jobs are hard to come by these days.

I know what you mean, one year ago in April i flew to Boston for a job interview with this company that was into medical applications. Since then, all American job offers went south for me. :eek: There is a job drought.

Originally posted by Titan
Thank god that I\'m only a teenager going on to 15. But what will happen when I apply for a job soon? I might not get a decent job. But I have a question about these job layoffs. They are for all companies or just big businesses?

It is a domino effect, uncertainty leads to fear, which leads to panic, which leads to layoffs to survive the upcoming economic storm. It depends what the company does, if it is tech related, then I’m sure most of them will be affected in one way or the other...

Yeah it depends on the business.  If you provide a service that\'s not seen as a necessity then you customers may stop buying from you in order to cut their own expenses.  It\'s a big nasty circle.  They cut their business from us, we cut our business from someone else...

Originally posted by QuDDus



UMM I DID NOT SAY IT WAS his fault. Jeesh get a grip I was just posting he addressed the situation. I never said once in my post it is the president fault. I think you should read the post again because your misinterpeting everything I am saying.

sorry i must have misenterpreted it... you said :

"The president said it was shocking and yes americans are out of jobs and they want to try and do something about it.

I mean through the clinton administration we had a 3% unemployment rate. "

and so i mustve thought that you were saying that the clinton administration was doing a better job...

sorry, my fault.

BACK TO SUBJECT:

i think that the recent tech boom was kinda like a nitro boost for a car. an area of the market boomed because of the microprocessor, and the internet.  companies boomed, and once they started to lose speed, people sold quick, trying to hold onto their recently earned cash.

i see the economy coming back fairly soon. so my money will be there for awhile.. mebbe forever( well as long as i live.) its just too hard to judge the ups and downs in the market and if you just invest in like the S&P, it will follow the us economy, (which tends to go up)

people are starting to talk about bulls and so i think that the economy has almost hit bottom of this slump. im buying right now, how bout u guys?

Originally posted by Falcon4
sorry i must have misenterpreted it... you said :

"The president said it was shocking and yes americans are out of jobs and they want to try and do something about it.

I mean through the clinton administration we had a 3% unemployment rate. "

and so i mustve thought that you were saying that the clinton administration was doing a better job...

I would say that the economy has been approaching this correction for some time now.  I\'ve been expecting it for years during the Clinton administration.  In the first quarter 2001 the uncertainty over the change in leadership, especially considering the way Bush stole the election, was the influence that triggered the slide.  Not his fault strictly speaking, but he was a factor.

stole the election eh? i guess now i know what side you are on you evil doer.

Originally posted by Falcon4



people are starting to talk about bulls and so i think that the economy has almost hit bottom of this slump. im buying right now, how bout u guys?

You are actually buying right now? What types of stocks?
My former boss told me that i should buy Medical/biological stocks right now if i want to go the distance, or if i want to make a quick return, look at "robotics" companies. I\'m not even venturing back into the waters yet, i figure i will give it 6 more months, just in case. Although i would like to buy some Xerox, and gateway stock.