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Global Economy Bursting?

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Explosion in Uncovered Employment During the Recovery

Covered employment is the set of working employees that have unemployment benefits.

http://globaleconomicanalysis.blogspot.com/2012/11/explosion-in-uncovered-employment.html

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Boeing Announces Big Layoffs in Defense Division http://www.cnbc.com/id/49729998

ING Layoffs In State Are Unrelated To Massive Staff Reduction In Europe http://www.courant.com/business/connecticut-insurance/hc-ing-layoffs-20121107,0,5645363.story

Caterpillar’s Layoffs Parallel A Falling Monthly Copper Price Index http://agmetalminer.com/2012/11/07/...arallel-a-falling-monthly-copper-price-index/

More Layoffs May Be In Store for Alcatel-Lucent http://www.fool.com/investing/gener...yoffs-may-be-in-store-for-alcatel-lucent.aspx

Boeing Telegraphs Layoffs in Defense, Space & Security Unit http://247wallst.com/2012/11/07/boeing-telegraphs-layoffs-in-defense-space-security-unit/

Umatilla Chemical Depot plans layoffs this month, in 2013 http://www.tri-cityherald.com/2012/11/06/2160493/umatilla-chemical-depot-plans.html#storylink=cpy

Hawker Beechcraft to close plants in Arkansas, Texas, Arizona, cut more jobs http://www.therepublic.com/view/story/52f3fff526904fc68717a1cf890c9f9c/KS—Hawker-Beechcraft-Layoffs



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Layoffs rise as firms retrench due to earnings http://www.usatoday.com/story/money/business/2012/10/25/layoffs-job-cuts-earnings/1658147/
Auto industry could ease manufacturing slowdown [or not when you read the article] http://www.sfgate.com/news/article/Auto-industry-could-ease-manufacturing-slowdown-4007034.php

Chemical depot shutdown leads to higher jobless rate http://www.eastoregonian.com/news/l...cle_747dad7e-14e9-11e2-a7d1-001a4bcf887a.html

Small Business Employment, Revenues In Downward Trend, Says Intuit http://www.gaebler.com/News/Small-B...-in-Downward-Trend,-Says-Intuit-900000259.htm

Welch Allyn

Welch Allyn, a company that manufactures medical diagnostic equipment in central New York, announced in September that they would be laying off 275 employees, or roughly 10% of their workforce over the next three years. One of the major reasons discussed for the layoffs was a proactive response to the Medical Device Tax mandated by the new healthcare law.

Dana Holding Corp.

As recently as a week ago, a global auto parts manufacturing company in Ohio known as Dana Holding Corp., warned their employees of potential layoffs, citing “$24 million over the next six years in additional U.S. health care expenses”. After laying off several white collar staffers, company insiders have hinted at more to come. The company will have to cover the additional $24 million cost somehow, which will likely equate to numerous cuts in their current workforce of 25,500 worldwide.

Stryker

One of the biggest medical device manufacturers in the world, Stryker will close their facility in Orchard Park, New York, eliminating 96 jobs in December. Worse, they plan on countering the medical device tax in Obamacare by slashing 5% of their global workforce - an estimated 1,170 positions.

Medtronic

In March of 2010, medical device maker Medtronic warned that Obamacare taxes could result in a reduction of precisely 1,000 jobs. That plan became reality when the company cut 500 positions over the summer, with another 500 set for the end of 2013.

Others

A short list of other companies facing future layoffs at the hands of Obamacare:

•Smith & Nephew - 770 layoffs •Abbott Labs - 700 layoffs •Covidien - 595 layoffs •Kinetic Concepts - 427 layoffs •St. Jude Medical - 300 layoffs •Hill Rom - 200 layoffs

Add on those companies reducing hours to keep employees part-time and avoid Obamacare taxes.

Link to full article embedded with more data: http://connect.freedomworks.org/news/view/320794?destination=node/320794
 
Nominal GDP numbers across the globe are false

like to talk about real GDP numbers ..... they are actually negative around the world - not positive as the main stream media would have you believe .... its about nominal GDP ....its a distorted metric now with all the quantitative easing from central banks around the world .....

we have to measure economic activity with other metrics now ... many big time investors are speaking as I am speaking to you now .....

...the universe is unfolding very fast .

David Einhorn, Marc Farber ... the list goes on ...... real GDP is totally distorted

I will get back to you with this ..

...paper tiger cometh ....
 
1936ElectionCartoon1LG.jpg


• 1936 political cartoon depicts the Democratic Party whistling past a graveyard of tombstones
carved with themes echoed by the Republican Party in the 2012 election.
• $11 billion debt increase due to New Deal policies is today $183 billion adjusted for 66 years of inflation.
• Actual debt increase during President Obama's first term: $6 trillion or $360 billion in 1936 dollars.
• 1936 unemployment rate 15%, down from a 1933 peak of 25% versus 8% today from a peak of 10% in 2010.

Six years into the decade that came to be known as The Great Depression incumbent Franklin D. Roosevelt faced off against Republican nominee Alf Landon in 1936 presidential elections. It was a bloodbath for the Republican Party. FDR won a larger chunk of the popular vote than any president since 1820 and 98.5% of electoral votes, the most ever except Ronald Reagan in 1984.

These standout landslide victories by the two icons of liberalism and conservatism respectively were earned by radical economic reforms that rescued the economy from the blunders of previous administrations.
 
Vesta, which runs wind farms, to lay off 3000.
Nextel announces a 20% layoff in its Virgina offices
RIM announces 700 layoff in Irving, TX, some 4800 to follow.
TE Connectivity to shut down its Greensboro plant, 620 to be laid off.

All these announcements today, just a cross section. The bleeding commences.
 
As I said years ago, this is no short term thing. With the tax situation and health care requirements, I expect manufacturing to become very agressive about mechanization and robots. Robots don't need health insurance and one person running a super fast robot is cheaper than 10 people doing the same job.

That implies that many of the jobs already lost and soon to be lost will disappear forever. And if you don't have engineering or technical skills, you are not going to be in great demand. Better work on your CDL.
 
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