Money Beat

If the bailout's demise what such a bad thing why did the dollar go UP, and the price of oil go DOWN after it was defeated? Somebdy is LYING to us!!!

The reason why there can be an inverse relationshp between the Market and job loss is because the average worker can be suffering while the average fatcat thrives. Anyone who thinks differently either has not been on the job market for very long or is delusional (or both). Republican trickle down is more like p*ssed on.

Oops! I meant inverse relationship between the stock market and the job market. Period.

In the debate, Palin showed that a McCain Administration would be the same as the Bush Administration. Horrible for America!

More than 750,000 American jobs have been cut this year, including these announced since Sept. 10th:

LEHMANN BROTHERS: 20,000 jobs.

HEWLETT-PACKARD: 12,300 jobs.

FEDERAL MOGUL: 4000 jobs.

McCLATCHY COMPANY: 1150 jobs.

SCHERING-PLOUGH: 1000 jobs

ALASKA AIRLINES: 1000 jobs.

GLAXOSMITHKLINE 850 jobs (US and UK).

FOXWOODS CASINO: 700 jobs.

ALCOA: 660 jobs.

SYNOVUS: 650 jobs.

CARMAX: 600 jobs.

ROCKWELL AUTOMATION: 600 jobs.

REYNOLDS AMERICAN: 570 jobs.

NEW YORK TIMES: 550 jobs.

PANASONIC: 500 jobs

CARESTREAM: 500 to 700 jobs.

CHRYSLER: 450 jobs.

SONY ERICSSON: 450 jobs.

CITY OF ATLANTA: 400 jobs

NORWALK FURNITURE: 373 jobs.

NVIDIA: 360 jobs.

HOME DEPOT: 300 jobs.

ABX AIR: 276 jobs.

NAVISTAR: 252 jobs.

ALCATEL-LUCENT: 250 jobs.

SPANCRETE: 230 JOBS.

MARINETTE MARINE: 211 jobs.

FEDEX OFFICE: 200 jobs.

SEARS: 200 jobs.

ASHLEY FURNITURE: 200 jobs.

SERVICEMASTER: 200 jobs.

NY STATE DEPT OF CORRECTIONAL SERVICES: 200 jobs.

FLUOR HANFORD: 180 jobs.

BANKUNITED FINANCIAL: 160 jobs.

DALLAS (TX) INDEPENDENT SCHOOL DISTRICT: 160 jobs.

HAWAII MEDICAL CENTERS: 150 jobs.

JOHNSON CONTROLS: 120 jobs.

KENNAMETAL: 120 jobs.

CITY OF CORONA, CA: 112 jobs.

NEW YORK SUN: 100 jobs.

MASSACHUSETTS TURNPIKE AUTHORITY: 100 jobs.

PILGRIM’S PRIDE: 100 jobs.

GRAPHIC PACKAGING INTERNATIONAL: 100 jobs.

McCain and Palin are out-of-touch with reality and wrong for America. McCain said just two weeks ago that the "fundamentals of the economy are strong." Really?

Very sad, and another reason to vote for change:

Obama-Biden 2008.

I don't understand the premise of the story headline here. The market often responds positively to job cuts because costs are reduced. One the other hand, job loss means less consumer spending.

The Rasmussen Reports daily Presidential Tracking Poll for Friday again shows Barack Obama attracting 51% of the vote while John McCain earns 44%. For each of the past eight days, Obama has been at 50% or 51% and McCain has been at 44% or 45%. New polling shows Obama pulling away in New Hampshire and opening a growing lead in the Electoral College projections.

Thank Clinton and the Dem-wits for the
economic mess as well as Bush for not providing leadership when needed. They made it easier for people to get loans that were out of their financial ability to pay (especially minorities). Now, those of us who actually do understand math and live within our means will also have to pay.
We might as well all go on welfare and let the government take care of us. This is what Obama and the liberals want.

O.K BETSY.......
YOU KNOW WHY........
BECAUSE THE WALL STREET RULES THE U.S
NOT THE U.S GOVERNMENT......
U.S CORPORATIONS LAID-OFF MANAGEMENT AND
EMPLOYEES BECAUSE THE WALL STREET
DICTATES THEIR DESTINY..........
YOU AIN'T SEE NOTHING YET UNLESS THE
U.S GOVERNMENT PASS STRICT LAWS TO
CONTROL THE WALL STREET MADNESS.....

Independent said: "Thank Clinton and the Dem-wits for the
economic mess as well as Bush for not providing leadership when needed. They made it easier for people to get loans that were out of their financial ability to pay (especially minorities). Now, those of us who actually do understand math and live within our means will also have to pay.
We might as well all go on welfare and let the government take care of us. This is what Obama and the liberals want."

You are correct. The Clinton administration put this ball in play. HOWEVER, THE BUSH ADMINISTRATION ARE THE ONES THAT HAVE ALLOWED IT TO CONTINUE TO BE ON THE FIELD! Both parties are to blame. Our job is to make sure it is corrected.

Stop placing blame on any one party. Go educate yourself!

Perhaps the market is up for the same reason Bush said exporting jobs is good for America. The market believes any loss of jobs represents a reduction of cost. Not an increase in efficiency but a matter of cost reduction regardless, which translates into more profits. Thus more profits equals better investment thus buy more stocks. What they fail to realize until to late is no jobs no consumers. If you are producing out of the country for consumption in the U.S. who will buy those products when unemployed workers are no longer consumers. Henry Ford whom is not my favorite person, said when asked why he doubled his workers salaries for no apparent reason, "someone has to buy the cars".

hmn said "If the bailout's demise what such a bad thing why did the dollar go UP, and the price of oil go DOWN after it was defeated? Somebdy is LYING to us!!!"

that is because oil and dollar are inversely related. Oil went down because investors know demand would drop with what would happen without the bill. This would be due to increasing inventories. Second the dollar goes up because when $700 billion does not have to enter the market, less has to be printed and less has to be loaned to cover it . Thus the value of the greenback goes up. The more that is printed the lower the value.

Study economics please next time.

For those who think McCain and Palin are out of touch, what about Obama and Biden. How long has it ben since they lived in the real world? I do not think any of the Senators know what middle class is since it has ben so long since they lived in it. The Senators live in the private club called the US Congress where you are promised a great retirement and health benefits package for life. They have a private dining room so they do not have to mix with middle class citizens while eating the best foods prepared by their own chef. Maybe a term limit proposal should be on the ballot.

The conspiracy theories and "blame the rich" posts in this blog terrify me. I think people should get a clue about economics BEFORE they post. Yeah, let's get those mean nasty rich people...oh wait, then we will be getting rid of the educated people in society. Mmmmmmm, sounds a lot like Stalin to me...and Russia is still paying for it today.

yea it was kinda stupid for giving all those people get loans but for that Mr.coffe person black people and hispanics do or do not pay their loans back just as well as you got damn crackers

whats up folks well anyway i think Obama should win the elections because at least he's trying to change and make change 4 us and if you wanna make a change get out there and vote ya dig so holla at yo boi at 803-657-9483 get at chu boi

Yo wats good. Mt. Coffee you're rude because at least Obama is trying to make a change but all you doing is siting pn yo butt talk'n bout Obama you're a hater so get a life
yea dig so if yall feel me get at me and send Mr.Coffee a note for being real

To Michael Joseph - you have certainly done your research. The problem is you have not taken into consideration how many new jobs have been created. While there may be 750K job cuts this year (who am I to challenge you on that number, I have a job and don't have the time) the unemployment rate is hovering around 6%. The last time I checked that is far better than almost any other economy and certainly not anywhere close to a record high for this country.

Are you nuts???? What market are you looking at, a fish market? The market I see is down even more.

It's only baffling to those who look at only one side of the statistics. Yes, America lost jobs - mostly manufacturing and call center jobs. What the media is not telling you is that some industries can't hire people fast enough. There is a nursing shortage in this country that impacts every job in most hospitals - everything from registration positions to nurses - most hospitals are hiring people and some are paying for them to go back to school to become a nurse. Soon, the US may become like Great Britain where we are importing doctors and nurses from other countries to fill these jobs. * US Border Patrol is another employer that currently has an aggressive recruiting campaign - it can't find enough people to fill jobs and is considering lowering its standards. Prisons and law enforcement agencies are hiring, many public safety departments are hiring. The tech industry still brings in thousands of guest workers each year from foreign countries to fill jobs Americans should be doing - the jobs are out there folks - the media is not telling you the whole story.

I guess the reason would be...idiocy? If I could get out of my 401k without it costing me and arm and a leg, I would. I dont see any real market improvements for the next few years. People buying in now are just tossing money down the sewer if you ask me.

I am so confused now ... I thought the dow just hit below 10k ... if this wasn't so serious it would be funny

Thank Clinton and the Dem-wits for the
economic mess as well as Bush for not providing leadership when needed. They made it easier for people to get loans that were out of their financial ability to pay (especially minorities). Now, those of us who actually do understand math and live within our means will also have to pay.
We might as well all go on welfare and let the government take care of us. This is what Obama and the liberals want.

thanks for the lulz