Sunday, August 30, 2009

Times just keep getting tougher...

Even as the news media are carrying blips about the recession "ending soon", the economic woes continue. Whirlpool just announced a layoff of 1,100 and possibly 400 more in Evansville, Indiana so they can "consolidate" their operations by moving the plant to Mexico.

Consolidation seems to be a one way street... they move manufacturing jobs to Mexico or China, but I seldom read that they are moving any to the US. Outsourcing is killing us. Sure, the owners (stockholders) still make money on their investment, but not Joe Average who needs the job to feed the family.

82 banks have failed this year alone, and the FDIC is technically out of money (until they print more). Have you noticed these bank closings are almost all announced late on a Friday after banking hours... along with the designated buyer?

Reports say that within 2 years, over half the homes in the US will owe more on their mortgage than the home's value.

I get daily updates from the FDA on food recalls. I used to post about them here but now there are so many it seems futile.

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