March 7, 2009

36 comments:

Mitesh Damania said...

And if u add the farms the bars are even bigger!

eric in vegas said...

Relax, the shovels have been purchased and the dirt fields are being prepared.

Stuck in So Pa said...

Not adding farm and related employment really invalidates the intent of an employment chart. Farmers (and farming corporations) are cutting back like everybody else.
My company.....think GREEN tractors.....has laid off, eliminated almost whole departments, cut hours, absolutely NO overtime, reduced full to part time to keep help, etc. In my lifetime, this company has NEVER done this before.

The old saying used to be: "People gotta eat"

Now it's "People gotta eat but not as MUCH!"

Anonymous said...

If you turn it over the other way you will see the job growth in government.

Ron Paul is right! said...

Have no fear, Capt. Lightbulb's here!

Some eneergy efficient lightbulbs, internet in all the libraries and government fleet changing over to hybrids. That'll fix it.

Who voted for this dumass anyway?

Dabcer said...

Europe will be down to zero private employment shortly.

People and businesses aren’t purchasing overpriced low quality crap from the Uber-regulated corrupt EU anymore.

The only remaining jobs are in Sudan, as UN blue hat carbon inspectors funded by the US tax payers.

Europe is toast

Anonymous said...

Wonderful video to save for posterity.

Moral hazard was now a thing of the past...

NOT.

Anonymous said...

.


Hey Mitesh,


You do realize that you don't have to leave postings on every subject don't you?

Ya wanker

.

Anonymous said...

Once the Option Arm, ALT-A, and NINJA loans start to reset in November, how much more lost can Citi handle.

What does it say to an investor when small oversea banks have a bigger market cap then Citi

http://biz.thestar.com.my
/news/story.asp?file=/2009/3
/7/business/3426462&sec=business

At its prime in late 2006, Citigroup had a market value of US$277.2bil or US$55.70 per share, which would at least put it on par or even larger than the entire market capitalisation on Bursa Malaysia at its peak early last year.

The bank announced on Jan 16 that it posted a net loss of US$18.72bil for the full-year to Dec 31, 2008, with a net loss of US$8.29bil for the fourth quarter.

3 local banks overtake Citigroup in market value

Malaysia’s top three banks by market value are now larger individually than Citigroup Inc, whose shares fell to as low as 97 US cents before closing at US$1.02 on Thursday.

Anonymous said...

Would the Warren E. Buffett of the Middle East inject more money into Citi.

http://www.nytimes.com/2009/02
/28/business/worldbusiness
/28prince.html?ref=worldbusiness

The bad news arrived by telephone early this week at the Saudi headquarters of Prince Walid bin Talal.

Citigroup, the investment that had transformed Prince Walid from an obscure Arabian royal into the Warren E. Buffett of the Middle East, was spiraling down around him.

And now, on the line from New York, was Citigroup’s chief executive, calling personally to tell the prince that the United States government would substantially increase its stake in the troubled financial company — a step that would cost the prince dearly.

As it did Friday. The stunning collapse of Citigroup’s share price, to a mere $1.50 on Friday from a record $55 in 2006, has hurt investors worldwide.

But few reputations have suffered as severe a blow as that of Prince Walid, who owns about 4 percent of the company.

In its third attempt to stabilize Citigroup, the government announced Friday that it would increase its ownership stake to as much as 36 percent by converting part of its large preferred investment stake to common stock.

Other preferred stockholders could own a 38 percent stake of the bank if they all convert their shares.

That would dilute existing common shareholders, who together would now own just 26 percent of the bank.

Anonymous said...

Add in the independent contractors/self employed:

1) realtards
2) Brokers
3) Contractors

That number they give leaves out the biggest group of job losers.

GT Charlie

k.w. - Southern Ca, said...

The charts only show a small part of the problem - many people, who were able to get some new low paying cr*p job, and those who have stopped looking because they are discouraged also need to be considered.

Job losses will now accelerate, heading into overdrive, as more banks and "too-big-to-fails" are put on life support.

Commercial realestate is the next really big shoe to drop - and drop it will. This will make the housing crisis seem like a walk in the park.

too much debt said...

Obama is looking to go hard core on the green thing.

http://www.ibdeditorials.com/IBDArticles.aspx?id=321228358224458

So with all the calamity, we're going to start buying bushels of nothing. That's not going to go over well when people are hungry, especially in the developing world, like for instance, Kenya.

I'm starting to wonder if this guy is actually a no-nothing liberal idiot with an incredible gift for the spoken word.

What do they call that again? Oh, an Idiot Savant. If we go back over his resume again, we might find it shockingly sparse.

Anonymous said...

We need more illegal or legal immigrants!!!!! We need 20 people standing in line for the same job!!!!!!!!! We need to support the other 19 with welfare!!!!!!!!! We need national health care paid for by the 2 guys that are left working. Ohhhhhhh ya baby the multi nationals will socialize labor costs and privitize profits. Obammy is their puppet and their wet dream. God help us all. Is it better it collaspes and kills this shit or is it better we are all condemmed to live under this corrupt system?

Anonymous said...

Want to be in the most dangerous spot to lose a job?

Be in something that is unnecessary like Bass Boats or Travel Trailers.

Be there over 10-12 years with a 401K and medical/dental.

Be making more than 50K

Be a desk jockey or "middle manager".

YOUR ASS IS GONE!!!!!

Anonymous said...

What the hell am I looking at?

born to lose said...

I constantly remind my employees how fortunate they are to even have a job.

Higher unemployment is great if you are the one who has to employ people. Better selection at a lower price.

We still have a long, long way to go. There are still way too many people who believe they are worth more than they really are in this Capitalist Economic system.

Some people get it, they realize they are worth no more than what an employer is willing to give them. Those are the ones I use to replace the goofballs I had to hire when unemployment was too low.

Crush the Noble Employee Myth!

Ross said...

"People gotta eat but not as MUCH!"

I think this will be a positive for Joe SixPack and Jane Zinfandel. Americans eat too much and it's no secret.

That being said, I never want to hear about farmers struggling. They are the lifeblood of our country.

ManOMan said...

Take a look at this website. Look how deluded the upper classes of the USA are as to the employment situation. They actually think that free trade has not depressed wages or caused the USA to lose jobs. Or, if free trade has caused this, they think,oh ho hum, who cares, since it only affects the dirty working class...

http://www.cafehayek.com/hayek/2009/03/peace-and-free-trade.html

Mitesh Damania said...

You do realize that you don't have to leave postings on every subject don't you?

Ya wanker


Ya dan't have a choice. :p

You know why I do it? So that all the followups come to my email. Maybe you can solve my wanker problem of getting comment updates? RSS doesn't update me of new comments.

Anonymous said...

I read this chart as follows:

1. First round of slackers, interns, health care risks, breeders, and extra fat got laid off.

2. Business are on the wait and see phase for next quarter, hoping in vain for a quick turn-around. Paycheck cuts, canceled benefits, drastic operational cuts, all to maintain key personnel and productive workers.

3. Nothing improves much. Next round of expensive labor will get lay off. If you're earning 6 figures, your a$$ is on the line. Cheaper, non breeders, non health care risks, and productive workers remain to carry the company.

4. Restructuring, acquisitions, mergers, bankruptcies, positions filled from stimulus, exodus of illegals, slow down in H-1B visas, new businesses started by capitalized laid off workers.

5. Unemployment finds bottom (end of 2010), but growth will remain extremely slow because of historical shift in consumer behavior (especially from baby Boomers).

Anonymous said...

.



THE RICH EARNING $200K WILL SUPPORT ALL OF US WITH THEIR TAXES. WHY WORK?



.

Anonymous said...

Hey Mitesh,

You do realize that you don't have to leave postings on every subject don't you?


LOL. Imagine the pain in the arse that must be his Twitter.

Anonymous said...

>>Once the Option Arm, ALT-A, and NINJA loans start to reset in November, how much more lost can Citi handle.<<

Buh buh buh Citi was run by the liberals' hero, Robert Rubin. What happened? Must be GWB's fault, right?

Anonymous said...

What do they call that again? Oh, an Idiot Savant. If we go back over his resume again, we might find it shockingly sparse.

We should go after his Birth Certificate.

Anonymous said...

Thank god $4,000 laptops and search engine to look for p0rn will save the entire American economy.

Anonymous said...

Smokes wenht 7up 75Cents a PACK! FU Obama... Thats all I had left now Im pissed! FU FU FUFUFUFUFUFUFUFUFUFUFUFUFUFUFUFFFFUFUFuFUfrfufffufufufffuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuAd uuu

Anonymous said...

Snuffy Smith does not like to hear of his neighbors losing their jobs, because somewhere in the process of that, he might lose his own. Snuffy has no alternate plan B if that happens. He's got this job at Whurlpoole that makes "warshin machines" and he has been there a good while. The work is hard, but there is plenty of gurls to hit on during breaks, and they like his stovepipe sucking mouth beard, and his big black Dodge Cummins fourwheel drive with all the frilly chrome on it. What Snuffy does not realize is that his boss has several lists of who stays and who goes, and Snuffy makes a tad too much on the hour, and a tad too much in bennies to be allowed to stay. Snuffy has a problem that is going to hit him square in that bearded mouth on or about the end of the month. "Mr Smith, we are going to have to make a few reductions in our workforce". That evening, Snuffy will drive home not quite as briskly in his big Dodge that he owes 650.00 a month on for the next four years on. His shoulders will be pulled down behind the wheel and his jaw will be set out sharply. God help anyone on the "innerstate" that tries to cut in front of him tonight!!! Snuffy HAS no plan B. Or savings. Or paid for home. Play this out times every town in the USA, and you got the Unemployment thing down pat. How many Snuffys are there this month? Next month?

Ron Paul is right! said...

You are correct born to lose. However the flipside of that coin is your product or service no longer captures as much on the open market. And the higher the unemployment, the lower your price/deflation goes.

And I suspect, this cycle is only about half way down. Serious unemployment (20% or so) and serious deflation is on the way. Soon, the handyman, plumber, appliance repair guy will be lucky to fetch $40 per hour. Soon, a new fridge or stove at Lowe's will be half what it is today. This is not going to end well.

Deflation and some correction is needed. But if goes too far, Rome will burn. Be careful what you wish for, it may come true.

Anonymous said...

BWA HA HA HA HA HA

DIE U PIGS

les said...

11.8% unemployment in San Bernardino/Riverside CA. Up from 10.1% last month.

Should be 15% by the summer.

Anonymous said...

"...a no-nothing liberal idiot with an incredible gift for the spoken word.

What do they call that again?"


Irony.

Anonymous said...

Some people get it, they realize they are worth no more than what an employer is willing to give them. Those are the ones I use to replace the goofballs I had to hire when unemployment was too low.



Hey shitbag, I employ people and was scared to death over how the scum like you in the gov and privite sector destroyed the working man. You fool you will be killed and eaten before this is done. God are you a dumbass!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Anonymous said...

>>Once the Option Arm, ALT-A, and NINJA loans start to reset in November, how much more lost can Citi handle.<<

Buh buh buh Citi was run by the liberals' hero, Robert Rubin. What happened? Must be GWB's fault, right?

you ignorant slut, its all the dereg philosophy that reagan brought in. yes clinton and the other neo-liberals like rubin pushed it too. 30 years of reaganomics have brought us to this. a "free" market works no better than a free trafic system and is probly more dangerous. take out the stop signs and lines in the road and what do you think would happen to your daily drive numb skull? get a clue you
f-en brain dead rump limpall drone. Adam Smith said a "well regulated free market". That means rules of the road. do you get that you stupid limpball drone?

Anonymous said...

"...a no-nothing liberal idiot with an incredible gift for the spoken word.

What do they call that again?"

Irony.

The Great Communicator II

Anonymous said...

11.8% unemployment in San Bernardino/Riverside CA. Up from 10.1% last month.

Should be 15% by the summer.


Buh buh buh we thought that all those meth-labs and tat-parlors for unionized bikers were good businesses. What happened?