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 Post subject: economic woes or boom?
PostPosted: Tue Jun 07, 2005 12:54 pm 
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GM Plans to Cut 25,000 U.S. Jobs by 2008

http://news.moneycentral.msn.com/provid ... 9&GT1=6657

GM, in an effort to save itself, plans on cutting 25,000 jobs by 2008. what they don't mention is how they plan on getting the UAW to go along with this. GM has tried many times in the past to reduce jobs, but in order to do that they agreed to pay laid off UAW workers full pay...for not working. Before I get any feedback, I want to say I am a former GM employee (retired-union)

Not good news for the american economy, because it has the "domino effect" and 25,000 GM employees means well over 4 times that in support from various sources who supply GM and who GM depends on for support. This will have a significant effect on america in the hear future.

Now, on the other hand.....

http://news.moneycentral.msn.com/ticker ... ID=4160165

All Greenspan has to do is say everything is perfect with the economy and the stock market rises almost 100 points just today. It's amazing that one man's word can send people into a frenzy like he does, but one has to wonder if what Greenspan always says it true or not.

I guess the economy, like faith, is all in the hands of the beholder.


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 Post subject: Re: economic woes or boom?
PostPosted: Tue Jun 07, 2005 2:16 pm 
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mga wrote:
I guess the economy, like faith, is all in the hands of the beholder.


Sadly though, most of us (you know... the bottom 95% or so) are getting the finger from Adam Smith's "Invisible Hand"...

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"The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness."
--John Kenneth Galbraith


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 Post subject:
PostPosted: Tue Jun 07, 2005 11:26 pm 
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The stock market is a giant game of Monoply played with real money and real people's lives.

It is one sick game...


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