InvestYoung

Cutting Jobs!

I just read that Citigroup Inc. is cutting about 53,000 jobs in the next coming months. I really don’t have much to say about people losing their jobs besides it sucks. And it’s never good thing for the economy or the people losing their job. Citigroup is having huge problems because of their huge losses to the tone of $2.8 billion in just the third quarter. The problem with companies like Citigroup they just grow to big to fast. They then start taking on shady deals and have wild spending habits. No one ever knows who’s in charge and things start to get out of control. Getting the news that your job is being eliminated is never a good thing, but I say just keep your head up and move on. Most companies today only really care about the bottom line and really don’t care about their employees. So do yourself a favor and don’t bother looking back.

World Recession!

Today Japan joins the 15-nation euro-zone as technically being in a recession. By having two straight quarters of a declining economy your considered in a recession. Japan’s last recession was in 2001 when their interest rate was set to zero percent. And that was just enough to get them out of that recession. I wonder what they will do this time to get out of a recession. Because they’re not alone, it will take a world effort to get out of this jam. If you didn’t know, Japan as the world’s second-largest economy, and could be facing more major problems ahead. It’s only a matter of time when the United States joins the ranks of the rest of the world to be considered in a recession. This would just add another bad thing to Bush’s list of bad choices. After all, he’s our leader and his people working for him should have seen this coming. Giving these financial companies a ton of freedom as ruined the world economy. And therefor no more money should be handed out, let them all fold. And only then will we be able to start over.

Automakers Need Money!

Now it’s the automakers asking the American people to keep them in business. General Motors Corp., Ford Motor Co. and Chrysler LLC are asking Congress to approve the aid to get them alive. GM, the nation’s largest automaker posted a $2.5 billion quarterly loss. And now they feel they’re going to run of cash by the end of the year, cry me a river. The automakers first take avenge of us with their high prices for cars and now want us to loan them money. I’m so sick and tired of all these businesses running to the government asking for money. Why don’t they do what people around the country do, file for bankruptcy and reorganize themselves. This way the creditors will take ownership and they then could start with a fresh balance sheet. The problem is, when this happens a whole new management team comes in. These top guys don’t want to lose their high paying jobs, but would destroy our families in a heartbeat to save theirs. The rescue package was intended to help businesses get back on their feet and help stabilize the markets. And guess what, it’s not working. So what should be done next is let all these businesses fall apart and save the American people money. We’re heading for a recession, and in the end these businesses won’t make it. I say, stop handing out the money and lets move on. If these companies make it, great, if they don’t make it, to bad.

Oil Prices Down!

With the huge drop in oil prices over the last four months is somewhat a sign of relief. Today the price of a barrel of light sweet crude is down over 60 percent to just under $59. Although this is great, the only reason for the drop is because of the recession we’re in. The demand for gasoline and other crude products as also caused the drop. And that’s because there are no jobs and no one is spending what money they have. The only thing I wonder is will the price of oil skyrocket again once we pull through this recession. I truly feel it will, and then we’ll be right back we’re we started again. We need to take this time to create jobs by drilling for our own oil and stop depending on foreign oil. We need to get back to the times where we did everything on our own. If we don’t get back to producing our own crap we’ll never really get back on track.