White-Collars Join Workless Ranks

[Nambe]

CBS

The same economic forces that battered blue-collar workers - jobs taken to off shore sites to name one -- have blown through the corridors of power. More and more of those white-collar executives who used to hand out the pink slips are getting it handed to them.

Executive headhunter David Raddin says he has fewer corporations calling him to search for their next boss.

"It is a horrible market," he says. "I'm seeing excellent, top-notch executives on the street who can't get jobs."

Of the 9 million Americans out of work, just over 17 percent are managers or in specialized jobs. The numbers among this group have never been seen before.

"The tensions that I feel personally, my wife and kids feel it," says Cal Laird. "It's a situation of, 'Geez, what's daddy going to do?'"

And Laird's wound is self-inflicted. The Harvard MBA walked away 15 months ago from a $300,000-a-year president's job looking for something more fulfilling. The timing was horrible. ---

Privatize bush It’s a Good Thing

[ginantonic40]

1. A fine example of

Bush the Uniter. White collar and blue collar united in the unemployment line.

[Neutrino]

2. I saw that & I've been watching the whole monthlong series

I have to wonder how long it's going to take for Americans to
realize just how bad the internals are on this Economy. Greenspan
can play all the pump and dump he wants to with the Long Bond,
and blindling dumping money into it. Today I read that the
"non-conventional" tactics used to stem Deflation is purchasing
"private stocks"--meaning derivatives like IYY NYSE Index.
Average citizens come home at night and see that the Stock Market
is up, and they are manipulated into thinking everything's ok.
It's not ok. Like they say, when your friend loses his job, it's
a Recession. When you lose your job, it's a Depression.

[Neutrino]

3. I even remember Bush boarding his airplane--

and a Journalist yelled out something about the weak Economy.
Bush smirked and yelled back--"The stock market's up, isn't it".

It was up in 1929 too. way up.

[demgrrrll]

4. The stock Markest's up. Yea that's going to help someone who doesn't

have a job or food. Words fail me.

[Warpy]

6. Everything Bush has done

..economically has been aimed at keeping the Dow artificially high. The cons have always bought the double lie about the last depression, that it was caused by the stock market crash and cured by a war. Well, Bush has cut taxes to plutocrats to pump up the Dow and he's got an eternal war. He hasn't been able to stop anyone from losing work, sales are down, and people are too frightened about their own prospects to consider spending money on anything besides (maybe!) real estate.

The fact is that the last depression was caused by the same wealth disparity we're seeing now, that sucking wealth away from working people who would keep it in circulation toward wealthy people who used it to speculate on risky stocks. The economy (and the Dow) became supported only by wishful thinking and hot air, and it collapsed. It may do so again unless the appropriate steps are taken to ensure that money remains within the economy, circulating and working. Even that may not work well now, since most people have compensated for stagnant or falling wages with piling up credit card debt, which will have to be paid off instead of having their money spent in the 60% of the economy that is consumer-driven.

Bush will never take these steps, anyway.

[joeunderdog]

7. Insider selling in June--highest since 1995

This bubble will burst.

[Nottingham]

5. Business is terrible. Unemployment is very High!

Being College educated doesn't mean anything in this market

:bounce:

[inthecorneroverhere]

8. kick

I heard similar comments coming from a student just out of one of the Ivy-League schools on NPR today. She came from a privileged background but showed empathy for the large number of her classmates whom she knew had neither jobs nor health insurance.

[loudsue]

9. Do stocks like it that Bush is in the "hot seat"??

That's been something I've been wondering about since the market went above 9000 again....the timing was pretty close to when there started to be "dangerous" rumblings about Tony/Bush lying.

And EEERILY close to when Rockefeller said he wanted an investigation of the argument for war. Like Mike Ruppert says, Bush shouldn't mess with the CIA nor the Rockefellers....and he's done both.

I think the stock market hopes bush gets canned & the U.S. can go back to being a real country again.

:kick: