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Saturday, November 24, 2012

The Coming Collapse, Late November 2012 Edition

The Economic Collapse blog consolidated many different sites as they composed the massive list of lay offs and firings after Obama won re-election.

From the Blaze,.... major corporations have all announced layoffs in just the past two days...

Energizer; Exide Technologies; Westinghouse; Research in Motion Limited; Lightyear Network Solutions; Providence Journal; Hawker Beechcraft; Boeing (30% of their management staff); CVPH Medical Center; US Cellular; Momentive Performance Materials; Rocketdyne; Brake Parts; and Vestas Wind Systems; Husqvarna; Center for Hospice New York; Bristol-Meyers; OCE North America; Darden Restaurants; West Ridge Mine; United Blood Services Gulf;

From the American Thinker, we get a list of other companies downsizing,......

Teco Coal officials announce layoffs; Momentive Inc plans temporary layoffs for 150; Wilkes-Barre officials to announce mandatory layoffs; 600 layoffs at Groupon; More layoffs announced at Aniston Weapons Incinerator; Murray Energy confirms 150 layoffs at 3 subsidiaries; 130 laid off in Minnesota dairy plant closure; Stanford brake plant to lay off 75; Turbocare, Oce to lay off more than 220 workers; ATI plans to lay off 172 workers in North Richland Hills; SpaceX claims its first victims as Rocketdyne lays off 100; Providence Journal lays off 23 full-time employees; CVPH lays off 17; New Energy lays off 40 employees; 102 Utah miners laid off because of 'war on coal', company says; US Cellular drops Chicago, cuts 640 jobs; Career Education to cut 900 jobs, close 23 campuses; Vestas to cut 3,000 more jobs; First Energy to cut 400 jobs by 2016; Mine owner blames Obama for layoffs (54 fired last night); Canceled program costs 115 jobs at Ohio air base; AMD trims Austin workforce - 400 jobs slashed; 100 workers lose jobs as Caterpillar closes plant in Minnesota; Exide to lay off 150 workers; TE Connectivity to close Guilford plant, lay off 620; More Layoffs for Major Wind Company (3,000 jobs cut); Cigna to lay off 1,300 workers worldwide; Ameridose to lay off hundreds of workers;

From a Sy Harding on Forbes we get the analysis that people are generally ignorant of the coming collapse,...

The global economic recovery from the 2007-2009 financial collapse stalled last year and continues to worsen this year, with the International Monetary Fund cutting its forecasts for global economic recovery yet again, including for the U.S., and warning last week that risks of the world dropping back into a global recession “are alarmingly high”, and that “no significant improvements appear in the offing.”

That certainly sounds like the IMF doesn’t have much confidence that the ‘Troika’ (the IMF, EU, and ECB) will be successful with the euro-zone rescue plans and stimulus measures announced a month ago.

Meanwhile China and Japan, the world’s second and third largest economies, are in a serious economic slowdown. China’s stock market is down 40% from its peak in 2009. Japan’s market is down 22% from its 2010 peak and still 51% beneath its peak in 2007.

U.S. corporations seem to be preparing for the difficult times ahead. They are hoarding capital and refusing to invest it in their futures, apparently being to make sure they can pay their bills and survive anything that might lie ahead.

The fear of corporate managements could also be seen in the way that corporate insiders sold off holdings and continued even after the Fed announced its QE3 stimulus measures. Hedge-fund managers likewise did not participate in the June rally, instead selling off as well.

Private-equity funds are having a similar under-performing year, up on average of only 4%. As the Journal says, that is not what their investors planned on. The funds were also suspicious of the rally, and are sitting on close to $1trillion in cash.

However, U.S. consumer confidence has jumped to 83.1 in October from 78.3 in September!!

And at 83.1, consumer confidence is getting close to the 87 level it averaged in the year prior to the 2008-2009 recession. That’s a lot more recovery than global economies have achieved, including that of the U.S. Is it just due to the pixie dust being puffed out by Wall Street and the Fed, about to be blown away by the gathering storm others see coming? We are likely to soon know the answer.

All this before we face the Govermental Fiscal Cliff that is finally in the mainstream news after heading this way for the past five years. Wait until the Department of Defense lays off a butt load of civil service and downsizes the military. Further military cuts will impact negatively not only major defense contractors (see Boeing in the list of lay offs) but local businesses around military installations.

Taxes are going up; more government spending and debt; inflated prices from everything from fuel to food.

Then there is the National Drought,...
And finally, the ability of the United States to produce food to feed the people has greatly diminished simply because of the great drought that has occured.  The worst U.S. drought in decades has deepened again after more than a month of encouraging reports of slowly improving conditions.

60.1 percent of the lower 48 states were in some form of drought as of Tuesday, up from 58.8 percent the previous week. The amount of land in extreme or exceptional drought — the two worst classifications — increased from 18.3 percent to 19.04 percent.   Read the entire article on the national drought conditions here.

Stock up people,..prepare well. 


  1. So who gains if companies go bankrupt and 100's of thousands of workers get fired? Why would presumably intelligent leaders be advocating policies that will cause the economy to collapse? Hint: "Never let a good crisis go to waste". The unions are using the bad economic times to make the big push to unionize Walmart and other companies and consolidate their government union gains. The Democrats are aligning themselves with the unions and those who want more "free stuff". So when you lose your job and when your taxes skyrocket and when food prices and the price of necessities continue to rise don't think for a second that we are all in the same boat sufferring together. There is an entire class of people an entire political agenda that will be benefiting from your woes and the woes of your fellow productive citizens. Keep working; work harder because a hundred million people sucking on the government teat are depending on you (not to mention the 20,000,000 illegals who will get amnesty and the uncounted millions more who will be elegible to immigrate as relatives of those new citizens).

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