Monday, July 25, 2011

Short & Sweet Monday- Add BlackBerry Maker RIM to List of Companies Making Big Job Cuts, 11% of Workforce; Add National Association of Realtors to that List as Well, 10% of NAR Workforce Cut as Jobless Recovery Swings Into High Gear; Greek Debt, Junked; Cesium Spreads Across Japan

As we have pointed out 14.249 Trillion a dozen or so times already (one of our very first articles was on this topic), it bares worth repeating that real, organic economic growth is long dead and has been officially since 2008. Currently, the only way for things to appear as normal is to pump endless amounts of fiat into the system - which happens to be exactly what the Central Banks of the world have been doing since that dark day in 2008, to "fill the gaps" as companies cut jobs, and close stores and factories, etc. What this creates, besides the obvious inflation, is a perpetual system of economic destruction. No wonder then, why gold and silver, exactly as we predicted, have been and will be going "to the moon, Alice!" in the coming weeks and months ahead. Daily fluctuations are inconsequential - what matters are the long term trends.

By now, you know that the MSM has coined the term "jobless recovery" and made it a household term, which was supposed to be used in a positive KoolAid induced sense. However, it's backfired terribly on them in part because it's obvious that this "jobless recovery" is a "recovery" for Wall Street and it's "jobless" for everyone else. However, we know the worst is yet to come; this "jobless recovery" is far from over so get ready for more "jobless" on your street and more "recovery" for Wall Street CEOs.

We begin this week with more bull...ish news, by adding BlackBerry's RIM with an 11% workforce reduction (2,000 jobs) and the National Association of Realtors (NAR) with a 10% reduction (somehow the NAR tried to spin this news into something positive despite giving numbers but we'll guess that 10% reduction equals 150-200 employees). We were hoping the spinmaster of horrific housing news, L. Yun, would be on that list, but we're sad to report that he will get a bigger bonus for his mastery of spinning. Looks like housing is about to drop off a cliff, again. This should be worth a few hundred points on the Dow(n) Jones. Like tomorrow's Case-Shiller/S&P Housing data.

Not that it matters, but Greek debt was downgraded again, this time to triple junk status; somehow we already knew Greek bonds were junk since 2009. Oops. The "markets" should rally on this news and the now 100% certain default. You have to like the way they eased you into this Greek default, though. Good job on the spin.

Just don't forget that Italian and Spanish bonds are looking ugly today, as once again, contagion is back. Over 6% on the 10yr for Italy. Clearly unsustainable. "Wwwwhat? I thought they fixed that problem last week!" says you. Nope. For some reason, band-aids on gangrene infested amputations never seem to work out too well for the patient. And just now we learn, courtesy of ZeroHedge, that Italy, in addition to Austria, has suspended August bond auctions. [insert Goofy voice] "Well gee! Who could have known?"

Like, who could have known that cesium-137 contamination would continue to spread across Japan? Japan has been so busy in a massive cover up forgot to provide standardized testing for radiation and now look what happens. It looks like Japan doesn't care much about its people, nor the people of the world as they are making it too obvious that their "thrown in the towel, the end is near" agenda has just gone full power.

Told you. Short and sweet and painless on this slow news day.

3 comments:

  1. Love the bandaid analogy - and it's SOO true...

    ReplyDelete
  2. From Albert Bartlett http://fire.pppl.gov/energy_population_pt_0704.pdf

    **In 1970, the CBS broadcaster Eric Sevareid rephrased the theorems even more
    bluntly: "The chief source of problems is solutions."

    I can feel the sense of hopelessness and depression in your blog. We can do the Paul Revere ride on this until the horse keels over and we may be in no better a state.

    Indeed many have "thrown in the towel", and too many more refuse to even admit they're in a fight. I've said it before and will say it again, this is the point where the Malthusian catastrophe is coming into plain view. A 70 to 1 die off is not unreasonable and is becoming an event horizon of inevitability.

    Perhaps we need to stop banging our heads on a wall looking for solutions and instead ask ourselves if we have the intellect and genetics worth preserving and fighting for so that we can bestow them on the future humanity that will be convulsed out of this mess.

    70 dead to every 1 survivor. Over 2 years or 2 generations I cant be sure, but the drop is coming.

    ReplyDelete
  3. Just fulfilling the book. What time is american idol?

    ReplyDelete