Global recession - where did all the money go?

Monetary union has left half of Europe trapped in depression:
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/4278642/Monetary-union-has-left-half-of-Europe-trapped-in-depression.html

"The banks are fucked, we're fucked, the country's fucked.":
http://www.guardian.co.uk/politics/2009/jan/19/economy-banking

Davos finds no answers to crisis:
http://news.bbc.co.uk/2/hi/business/davos/7863684.stm

For many people, hearing that the money system is about to collapse, seems ridiculous. A year ago, I used to say banks have no money and assets were over priced by over a factor of ten. I also stated a modern run on the bank was likely. Today I have unfortunately gained myself credibility and this chart created by the Guardian explains just how bad things are in the banking world.

The Guardian's interactive display of invisible money:

Watch this slide show below:



Click next above to see all slides.

Full article here: http://www.guardian.co.uk/business/dan-roberts-on-business-blog/interactive/2009/jan/29/financial-pyramid


As an Intuitive blogger, I think people are going to realize quickly that this bank theory has now become a living reality. We hear about it in the mainstream news every single day after all.

"So what are we going to do about?" I hear you think!

Well, I believe we have already started to do something. Following eight long harmful years of a neoconservative right wing Bush Cheney mafia in power, we have managed to stand up . These evil fear mongering crooks sitting in office trying to brainwash people saying "either you are with us or against us" did not stay in power quite long enough to make this neoconservative regiem irriversable. We showed no fear. We actually did something, against all odds, and did it peacefully. We stood up.... We discussed... We blogged.... We campaigned.... We wrote songs... We listened to DemocracyNow.org and Michael Moore. We did something quite unbelievable. We did not let this tyranny win. We have managed in 2009 to put an end to an illegal torture prison in Guantanamo Bay. We started to bring back real values. This is the beginning of a new revolution. We will see dozens and dozens of changes in the near future, positive in the long run, but for now we are in a bloodbath of financial disaster,with a loss of hundreds of thousands of jobs. People are losing their jobs every day around the world. The situation is as bad as 1982 but looking more and more like the statistics of the Great Depression of the 1930s or even worse. We are in a polluted and corrupted state and it has got to change fast and it will. This is it folks. I had unfortunately seen this coming and we're living this unfortunate situation today. Obama is calling for middle class Americans to go green and go back to traditions of the past. We are extremely fortunate to have such a great figure to represent the world during this hard time. Hardships can bring a sense of unity and we're seeing this every day. The tone of news is changing and patriotism has demonstrated itself with a milder tone, but it will also see struggles. Saving money and becoming resourceful is no longer for greens or hippies, it affects everyone. Everyone is showing acknowledgment to the years and years of recovery it will take to hopefully recover from the damage created of madness these past years. Hang in there is all I can say as an intuitive blogger!

http://www.careermeta.com/layoff-tracking.html

Recent Job Cut Headlines

• Foxconn Technologies announced layoffs of up to 5% of its worldwide workforce,more than 450,000 in China alone. - 12/23/2008
• Dow Chemical to lay off 5,000 workers, close 20 plants in attempt to save $700 million by 2010 - 12/18/2008
• Omnicom Group (ad industry holding company) To Lay Off Roughly 3,500 Worldwide - Washington Post 12/18/2008
• Western Digital to Cut 2,500 Jobs - Bloomberg 12/17/2009
• Aetna Eliminates 1,000 Jobs to Reduce Costs for 2009 - Bloomberg 12/17/2008
• Bristol-Myers will layoff yet another 10%, bring the total to 8,000 layoffs. - FiercePharma 12/17/2008
• Sony to Cut 8,000 Jobs - 12/9/2008
• Wyndham Hotel Group to cut 4,000 jobs - 12/9/2008
• Anheuser-Busch InBev To Cut 1,400 US Jobs - CNBC 12/8/2008
• Bank of America Corp. to cut 35,000 jobs as it acquires Merrill Lynch & Co. - 12/4/2008
• AT&T Job Cuts to Include 12,000 Layoffs - 12/4/2008
• JPMorgan Chase to cut 9,200 WaMu jobs - CNN 12/1/2008
• GM to Close Nine Plants, Lay Off 30,000 - Fox News 11/22/2008
• Citigroup to Cut Another 52,000 Jobs, 20% of its workforce. - Fox News 11/17/2008
• Sun Microsystems cutting up to 6,000 jobs - Mercury News 11/14/2008
• Applied Materials outlook weak, to cut 1,800 jobs - Reuters 11/12/2008
• Google Layoffs: 10,000 Jobs Being Cut - PC World 11/24/2008
• DHL announced 9,500 job layoffs as it plans to cease air and ground delivery services in the United States by January 30, 2009. The actual cut is cut almost 15,000 people. - 11/10/2008
• Merck Plans to Cut7,200 more jobs, 12% of Work Force as Its Sales and Profit Fall - 10/22/2008 NY Times
• EBay to lay off some 10 percent of its workforce, roughly 1,000 full-time employees and hundreds of temporary workers. - 10/6/2008
• HP to cut nearly 25,000 jobs by 2011 - Computer maker to trim 7.5% of its payroll with half of cuts coming in the United States as it integrates outsourcing giant EDS. - CNN 9/15/2008
• Starbucks cuts 1,000 jobs - 7/30/2008
• Bank of America Corp to cut 7,500 jobs as part of its acquisition of Countrywide Financial Corp. - Business Journal 6/27/2008
• American Airlines expects to cut nearly 7,000 employees - 6/3/2008 NY Times
• NASA May Cut 8,000 Jobs From Space Program - Fox News 4/2/2008
• Yahoo to lay off 1,000 as profit drops - CNet News 1/29/2008

Layoff Tracking Websites

Many bloggers are tracking layoffs and jobcuts in more detailed level. If you are interested in full picture of industry-wide, global scale job cuts, they following blog are for you to enjoy. Take it easy, don’t be depressed by the bad news. Someday in the relatively near future, things will turn around for sure. Here are the layoff tracking blogs:

• TechCrunch Layoff Tracker - http://www.techcrunch.com/layoffs/
• LayoffBlog - http://layoffblog.wordpress.com/Layoff Tracker - http://layofftracker.blogspot.com/
• Screwdd -http://www.screwdd.com/
• F’ed Startups - News, Startups, Technology, Layoffs
• Vault Layoff Tracker - http://www.vault.com/companies/layoffs.jsp
• Layoffs and buyouts at U.S. newspapers - http://graphicdesignr.net/papercuts/
• CNET Tech layoffs Scorecard - http://news.cnet.com/tech-layoffs/

The Job-Cuts List

• Top 5 layoffs of 2008 - by FiercePharma
• The Layoff Kings: The Companies That Cut The Most In 2008 - by 247WallSt
• Recent layoffs at area technology companies - by Seattle Post
• Layoff List by Forbes
• Layoff List by Wired
• ClickZ’s Layoff Tracker for Digital Marketing Jobs
• The Web’s Top 10 Layoff Sites

http://www.nowpublic.com/tech-biz/layoffs-list-job-losses-2008-and-2009-ongoing

Expected job losses in 2009

• Japan's top 12 automakers - 25,000 combined layoffs expected
  
• Caterpillar - 20,000 layoffs
  
• KBG Toys - 15,000 expected layoffs
• Sprint Nextel - 8,000 layoffs (14% of staff)
• Pfizer Pharmaceutical - 8,000 layoffs (by end of 2011)
  
• Home Depot - 7,000 layoffs
  
• ING - 7,000 layoffs
• Phillips Electronics - 6,000 layoffs
  
• Intel - 6,000 layoffs (second round)
• Whirlpool - 5,000 expected layoffs
  
• Microsoft - 5,000 layoffs
• Ericsson - 5,000 layoffs
• General Motors - additional 2,000 layoffs over 2008 total
  
• Bell Canada - 1,500 early retirement buy outs
• Harley Davidson - 1,100 layoffs
  
• United Airlines - 1,000 layoffs
• BigLots - unspecified number of expected layoffs
• AK Steel - unspecified number of expected layoffs
• Waterford/Wedgewood - unspecified number of layoffs