Thursday, Jun 04, 2009 at 14:31
2 of my kids (
young adults) work at the local casino, full time.
They are still getting calls saying "we have rostered too many staff on today - don't come in, but we will pay you a days leave so you don't lose $" etc.
Believe it or not patrons are staying away from betting sufficient to affect staffing levels.
Very few jobs appearing in the employment pages - less each week.
Answers from any employers seeking workers are rare, (unless you actually get the job).
World forecasts are for an even greater stock market crash starting late september / early november, now that stimulus packages have worn off.
The worlds largest corporation (General Motors) filed chapter 11 bankruptcy a couple days ago despite billions of Govt (Taxpayer) $ of bailout.
Even Toyota posted huge losses.
We are a heck of a long way out of the mire yet I am sorry to say, - no one likes to be a negative nancy & sure - there ARE people who are doing OK or better than they were - specially the retailers who benefitted from the Krudd 900 stimulus package.
http://www.asianews.it/index.php?l=en&art=15402&size=A
[quote]Signs of a new financial storm for September coming from Dubai and Saudi Arabia etc etc[/quote]
http://finance.yahoo.com/tech-ticker/article/248398/%22The-Worst-Is-Yet-to-Come%22-If-You%27re-Not-Petrified-You%27re-Not-Paying-Attention?tickers=^DJI,^GSPC,DDR,XLF,GM,RWR
[quote]"The Worst Is Yet to Come": If You're Not Petrified, You're Not Paying Attention[/quote]
http://www.bizjournals.com/pacific/stories/2009/06/01/daily23.html
[quote]California will run out of cash in 14 days[/quote]
OK - we can argue that most of these reports refer to USA - but something we need to remember, is that - when America sneezes - we catch a cold.
(Rather apt considering the swine flue epidemic/pandemic).
http://www.321gold.com/editorials/casey/casey052909.html
[quote]The Second Crash -
On the Way and Unstoppable[/quote]
The graph says it all - time to buckle up the fiscal seatbelts.
Wish it were different - but it ain't and theres little to be gained from wearing blinkers IMHO.
Cheers
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Follow Up By: Member - Tony & Julie (FNQ) - Thursday, Jun 04, 2009 at 16:51
Thursday, Jun 04, 2009 at 16:51
Have to agree with you - There may be more pain to come yet - simple economics - how do you pay off so much bad debt?
Some borrow more to pay another debt, a bit like the government did. In the end you have to pay it all back.
To do this you have to stop spending and save, then put it back into debt.
Time will tell at least I have a lot of land to grow some vegies :-) Cheers Tony
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