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“At least once a week, you hear some Wall Streeter exulting that manufacturing is showing signs of recovery. What he doesn’t tell you is that manufacturing is less than 10 percent of the economy. He won’t mention that sickly consumer-related activity is 75 percent.”

Does anyone think the standard of living that Western societies have been [...]

“If we don’t do it, you know this whole city is going to go down. I’m hopeful people will understand that,” Bing said. “If we can incentivize some of those folks that are in those desolate areas, they can get a better situation.”

Detroit Mayor Bing emphasizes need to shrink city
Mayor says it’s not ‘an easy [...]

“We’ve lost a couple of decades of demand in the U.S. economy because of the de-leveraging that’s happened,” Wall Street observer James Dale Davidson says.

America has spent too many years focused on the service industry by design to de-industrialize the economy thus making it easier for the process of bankruptcy. It has been so many [...]

“This is hitting us hard,” said Nelson Romero, president of the National Port Drivers Assn., a group that says it has more than 1,000 members and is seeking to extend the Jan. 1 deadline. “It’s not fair that everything falls on us.”

Doomsday looming for many truckers at Los Angeles and Long Beach ports
Clean-air guidelines banning [...]

“I have not seen this many unclaimed bodies in 13 years on the job,” said Albert Samuels, chief investigator at the mortuary.

This is all you need to know about crony capitalism and what it has done to a State a City and a Public School system, and don’t forget the people who are completely reliant [...]

“The public has lost all confidence in your ability to the do the job, and it is reflecting on your president.”

Geithner and his Wall Street government insiders know exactly what they are doing and that is protecting their corrupt friends at the top of Citi, AIG, Goldman Sacks, and Bank America — the top recipients [...]

The first citation in the article below, from Kapoor and Schaumbug, hits the nail on the head. This is one of the best articles that explains the whole issue of pay, and supply and demand of labor and productivity with the introduction of China and other Asian economies in the World Trade Organization over the [...]

Bernanke on Unemployment: ‘we don’t think it will get to 10 percent’

A better measure of unemployment is the U-6 numbers and this would make the real number around 17.5 per cent. This measurement includes discouraged workers and people who have very short term temporary low-paid jobs. This statistic is consistent with the numbers of past [...]

‘We are hollowing out our industrial base.’ — Avery Shenfeld, CIBC economist.

CIBC calls for loonie intervention
‘Go pick on some other currency,’ CIBC economist Shenfeld says
A high-profile Canadian economist has called on the Bank of Canada to use its reserves to defend the Canadian dollar against speculation in extreme cases.
In a report released Tuesday, Avery Shenfeld [...]

“Why am I competing against a bank?” — Wallace, Detroit Resident.

Detroit’s problems are easy to identify. It was the first “white flight” that had to do with the integration of school districts. This has led those who could afford to leave it outside the city limits or in private schools. Communities have continued to spread [...]

“Middle class families are forced to work longer and harder than ever, just to keep their heads above water.” — PC Leader Hudak

Canada’s province of Ontario and British Columbia are setting the stages to introduce harmonized sales taxes across the board in their respective provinces. The several next few paragraphs outline the HST.
Ontario plans a [...]

But the problem is particularly acute in Michigan, which has lost 231,000 auto and parts manufacturing jobs. That is 72 percent of the 320,600 auto-related manufacturing jobs the state had in 1999.

Today US Vice president admits on a news interview that the USA has officially entered a depression. In a commentary on Sean Hannity’s [...]

An excellent article detailing the gradual destruction of the American economy and society.
David Kaiser
Infowars
October 17, 2009
I am a student of history. Professionally, I have written 15 books on history that have been published in six languages, and I have studied history all my life. I have come to think there is something monumentally large afoot, [...]

BEGIN TRANSCRIPT
RUSH: Steve Wynn on Fox News Sunday was interviewed by Chris Wallace. He’s the CEO of Wynn Resorts in Las Vegas. He’s also on with Jennifer Granholm, the governor of Michigan. And Chris Wallace says, “Unemployment in Nevada is 13.2%. That’s the second highest in the nation. Your company, Wynn [...]

The majority of western economies, for the past 20 years, have been converted over to a service based economy. While economists and think-tanks were hired to push this agenda, businessmen and politicians were busy forging international agreements like the WTO to send our goods producing industries oversees, and leaving these western countries like the [...]

What this article fails to dive into is that service sector positions as are described as the replacement careers are not substitutes for manufacturing as is the case for Jeff Statham. Services just redistribute wealth; they do not create it.
Excerpt

Paul Brent For Canwest News Service
Jeff Statham was hardly surprised when he received a layoff [...]

By Mira Oberman (AFP)
CHICAGO — US auto sales plunged 22.7 percent in September after the end of the popular “Cash for Clunkers” program left cautious consumers with few reasons to visit dealerships, industry data showed Thursday.
But the Detroit Three managed to claw back some of the share they had lost. Asian automakers had captured more [...]

By The Associated Press
Excerpt

DETROIT —  The Rev. Lawrence Adams teaches his flock at the Westside Bible Church to turn the other cheek. Just in case, though, the 54-year-old retired police lieutenant also wears a handgun under his robe.
Adams is one of several Detroit clergymen who have taken to packing heat in the pulpit. They have committed [...]

Original article at LATimes
September auto sales drop 23% from a year earlier. GM’s plunge 45% and Chrysler’s fall 43%; Honda and Toyota also report double-digit slides. Kia and Hyundai have double-digit increases.
New car sales fell in September as the predicted post-”cash for clunkers” slump dragged the U.S. market down to its lowest levels in seven [...]