Comments on: Financial Dispatch: Fewer than expected file for unemployment

By: Annie Kate

Annie Kate — Fri, 10 Jul 2009 02:32:11 +0000

There may not be as many newly laid off employees this week but no one is getting a job either as a rule. Outsourcing for both blue and white collar jobs has been and continues to be a disaster. I can't think of any company that hasn't outsourced/offshored some part of their business. Since it would be almost impossible to boycott all of them we ought to demand that our congress people pass a tax on the companies for all the offshored work. My state taxes me each year on what I bought in other states since they didn't get any sales tax from it – if they can do that why can't we tax those companies who are trying to sell Americans goods made by outsourced hands. Pretty soon their domestic US market will dry up because we will all be on the unemployment line or on the dole.

By: Larry

Larry — Thu, 09 Jul 2009 21:04:34 +0000

What was that saying; there are lies, big lies, really big lies, enormous lies, and then there is statistics.

By: earle,florida

earle,florida — Thu, 09 Jul 2009 20:32:40 +0000

PS. I'm talking about Black Rock Financial! The shawdow business of the underworld,...where,and how they came from in such timeliness should give us all pulse to do some research.

By: earle,florida

earle,florida — Thu, 09 Jul 2009 20:26:23 +0000

Excuse me, but this "Public-Private Investment Programs",is very similar to the "Government Stimulus Program",where we now see the states shoring up their own budgets,with very little, if any of the stimulus money, actually going to where it was designated. The arbitrarial $30bn to jump-start this debacle,is just a speck of dust that will eventually accumulate into the size of a basketball (let's say approx. $800bn/$900bn) ,and once again put the burden of payment,on "Joe Public, Citizen"! How can I make this statement? Simple,follow the money. I won't go any futher than ,Barclays Global Investor,(BGI) the largest (British) in the world "Exchange Traded Funds"(ETF) ,whom by the way in 2008 swollowed up a third of the now defunct Lehman Brothers! Now,guess who bought the other two-thirds? Bank of America(BAC),and Goldman Sachs(GS),all with the same proportion! Coincidence? These toxic assets are being sliced ,and diced by the same financial,and banking houses that got us (financial crises meltdown) here in the first place (the fox guarding the chicken coop)! They will cherry-pick,and they will push the CDS's,MBS's,CDO's,Tier #3,etc., which happen to be the most toxic onto the "Government Sponsered Enterprises"(GSE's) balnace sheets,which by the way is completely financed by the US. Government! Pathetic,and by the the way ,check out where Barclays Owners,and management first got their leap to fame? That's right they created/structured/implemented,and were the masterminds to the "Mortgage Back Securities"(MBS's), the adjustable rate mortgage,no-doc's, no money down,and I be remiss the"Balloon Mortgage"!

By: Joanne Pacicca

Joanne Pacicca — Thu, 09 Jul 2009 19:44:27 +0000

To Julie, thank you for further elaboration of the point. I do think we should go back further, also to Clinton and NAFTA; and...we should point a finger at "the people"...we used to love our muscle cars..traded them in for gas guzzling SUV's and forgot apple pie and chevrolet.

Truly, Julie, you are right, the outsourcing of jobs to India, Mexico and elsewhere in order avoid unionism, benefits and other social responsibility that historically was considered the corporate brand of patriotism and is now a component of the desperate times and stranded people that are rapidly becoming the majority of the sinking middle class America.

By: Lisa in CA

Lisa in CA — Thu, 09 Jul 2009 19:05:40 +0000

Or some people who did find employment only to be laid don't really qualify for unemployment (as is my case) since they look at the previous quarter's earnings. No point in filing for $300/month. Also, a lot of companies have reduced hours and if one is even working part-time, they don't get unemployment. And for many, part-time earnings are still more than unemployment.

Gotta love the banks. Because of previous unemployment, my credit is in the tank and a possible bankruptcy is looming closer than ever, yet I have received TWO pre-approved credit card offerings. Do these folks even bother to check the credit scores? Apparently, some old dogs just cannot be taught new tricks.

By: psn

psn — Thu, 09 Jul 2009 17:59:54 +0000

Anderson,
In most accounts you are an outstanding reporter, but I am always amused when you report about the continent of Africa. You would not say the president is going to South America if he visits Argentina or Brazil; but what you would say is "The president is visiting Argentina or Brazil" right? Now listen to this "The first African-American president visits Africa" How that Sound to you? I am sure this is not ignorance that you choose to treat Africa not as a Continent but Purposely as a nation; or what is it ? "Mr. Anderson". What you fail to understand is that a visit by the president to one African nation has nothing to do with the other nations. It's like that with journalist and the stars. I will take my answer off the air and or through my email.
Thank you.
PSN.

By: Julie

Julie — Thu, 09 Jul 2009 17:39:25 +0000

The statistics on unemployment don't even begin to address the fact that a high percentage of the technical workforce (whose jobs are still being outsourced to India and Asia) have had to resort to "contract" work. What this means is that these people don't show up on the radar because when your contract ends and you can't find another, you don't qualify for unemployment benefits.

There's millions of these people in the United States. For every 10 permanent technical employees (i.e. someone who is eligible for unemployment and health insurance), I would estimate that there are 3-4 contract employees. This is an unofficial guess on my part, but is consistent with what I've seen. These people pay their own health insurance (or go without) and they don't see an unemployment check if their job goes away.

Joanne, you're correct about the fact that businesses are shirking what some feel is a duty to pay benefits. But if we're going to get to the root of the problem, we have to look further – the finger needs to be pointed at the Bush administration whose policies didn't enforce mandatory benefits for employees and condoned tax benefits for corporations who outsource. Outsourcing has destroyed our economy. Blue collar factory workers saw their jobs disappear as factories relocated overseas. White collar technical professionals have been forced to accept what amounts to temp work, with no benefits and no hope of career advancement. My background is technical and I'd advise high school grads to stay away from the tech fields. Become a nurse. The bozos can't outsource that occupation.

By: joanne mark

joanne mark — Thu, 09 Jul 2009 17:16:09 +0000

4 years ago my son-in-law died from an accidental overdose of a pain medication. when will these doctors and pain clinics start to get punished for the abuse of pain meds just handed out like candy. most patients feel it is o.k. if the doctor recomends them. i guess the deaths of all the celebrity people has still not awakend the government to do something about this.

By: Joanne Pacicca

Joanne Pacicca — Thu, 09 Jul 2009 16:47:42 +0000

Nothing as crazy as the statisticians and the knee-jerk reaction reflected by Wall Street and the unethical banking practices...what a sad state of affairs!

Also, as an "insured person" , I'm not so keen on paying the bill though taxation of my benefits for those without insurance. The problem lies with temporary employment agencies and big business not offering benefits.

By: Larry

Larry — Thu, 09 Jul 2009 16:44:13 +0000

It was a short week. Next week more people will be filing to make up for it.