Google "Switzerland" "Cantons" "Zero corporate tax", there's yer answer. At least for the white collar jobs that aren't coming back.
PS. I'll be in Barcelona May 14-18, Madrid 23-25 and back in Sitges 28 & 29. Notify the authorities. On May 8, 3:23 pm, xi <[email protected]> wrote: > My comment: Payrolls fell by 539,000, after a 699,000 loss in March, > while the unemployment rate rose to 8.9 percent. Second phase of the > U. US economy falls but its pace is slower. > > Peace and best wishes. > > Xi > > U.S. Job Losses Slow as Economy Starts to > Stabilizehttp://www.bloomberg.com/apps/news?pid=20601087&sid=a2SGURYLSFPM&refe... > > On Apr 4, 3:25 am, xi <[email protected]> wrote: > > > > > If you keep me a secret I will be completely honest. But, please, do > > not tell anyone what you are reading below. > > > In countries that are suffering hard crisis, I tend to do not believe > > most statistics. Not because authorities lie, I like to trust on good > > will, but because behaviors change during crisis. I only believe on my > > common sense. > > > I know that US economy is in the first phase of a U type crisis > > (although it is reaching the second phase). Therefore, I believe that > > its unemployment raises monthly more or less at the same pace month > > after month, about 650,000 people. > > > But I do not believe the total amount. In the negative side, for > > example because some people appear as employee (while they are > > unemployed) just to improve their credit rates, others appear as self- > > employees while they have not monthly incomes, etc. In the possitive > > side, because some people start to work in black markets, sometimes > > just for food and bed, sometimes for very decent wages and salaries. > > While those marginal populations are a fraction in regular times, in > > crisis both sides grow fast. > > > Also, I do not believe other rates such as GDP growth, CPI, and many > > others. For example, officially US GDP declined about 6%. I can > > believe any percentage between -2% and -20%, maybe it is -6%, maybe > > not. > > > Nowadays, I think that subjective indicators show the real situation > > much more accurately. For example CCI (Consumer Confidence Index) > > because it is just a survey where regular people answer questions. I > > follow it closely and I post it here because of that among other > > reasons. > > > Also, I trust on very low level indicators, such as Wall-Mart sales or > > opennings, etc. not agregated to other indicators. > > > Also, at international level. I do not trust on WTO statistics about > > global trade, but I trust on the Baltic Dry Index because price of > > maritime transportation reflects accurately the relation between > > supply and demand (it includes black markets) for transnational trade. > > > In some months, once global situation will be stable enough, probably > > my faith will recover. In US economy it will take a bit longer. > > > You live there, you meet people, you talk to people, your opinion is > > much worthier than any agregated statistics. > > > Thank you very much for that information. > > > Peace and best wishes. > > > Xi > > > On Apr 4, 1:19 am, Mercury <[email protected]> wrote: > > > > I wonder how much higher the unemployment numbers REALLY are > > > considering a lot of laid off workers are receiving severance pay and > > > are > > > uneligible to apply for unemployment until they use up that severance > > > pay. They for sure are not being counted. > > > > You can add my sister in law and my husband to the ones not being > > > counted. > > > > On Apr 3, 9:36 am, xi <[email protected]> wrote: > > > > > April 3rd., 2009 > > > > > Unemployment in U.S. Increases to 8.5%, 25-Year > > > > Highhttp://www.bloomberg.com/apps/news?pid=20601087&sid=aV3T3USSyJy0&refe... > > > > > April 3 (Bloomberg) -- The U.S. unemployment rate climbed in March to > > > > the highest level since 1983 and the economy lost more than 650,000 > > > > jobs for a fourth consecutive month, a sign renewed reductions in > > > > spending might slow a recovery. > > > > > The jobless rate increased to 8.5 percent, as forecast, from 8.1 > > > > percent in February, the Labor Department said today in Washington. > > > > Employers cut 663,000 workers from staff, bringing total losses since > > > > the recession began to about 5.1 million, the biggest slump in the > > > > postwar era. > > > > > Evaporating jobs and declining pay mean President Barack Obama’s > > > > pledge to create or save 3.5 million jobs through tax cuts and > > > > government spending may fall short of what’s needed to revive the > > > > world’s largest economy. Federal Reserve Chairman Ben S. Bernanke has > > > > conceded joblessness could top 10 percent under a worst-case > > > > scenario. > > > > > “The labor market has gotten worse,” Conrad DeQuadros, senior > > > > economist at RDQ Economics LLC in New York, said before the report. > > > > “Weak labor-market conditions will result in consumer spending being > > > > weak throughout most of 2009.” > > > > > After the report, stock futures extended gains and the yield on 10- > > > > year Treasury notes rose. > > > > > The job cuts have been spreading from manufacturers such as Johnson > > > > Controls Inc. and Dana Holding Corp. to service providers like > > > > International Business Machines Corp. and even the U.S. Postal > > > > Service. > > > > > Revisions subtracted 86,000 workers from January payrolls while’s > > > > February’s drop of 651,000 was not revised. > > > > > November 1983 > > > > > The last time the unemployment rate was at 8.5 percent was in November > > > > 1983, when the economy was recovering from the 1981- 82 recession that > > > > pushed the rate to almost 11 percent. Then Fed Chairman Paul Volcker > > > > boosted interest rates to quell soaring inflation following the 1970s > > > > fuel crisis. > > > > > Payrolls were forecast to drop by 660,000, according to the median of > > > > 80 economists surveyed by Bloomberg News. Estimates ranged from losses > > > > of 525,000 to 750,000. > > > > > Forecasts for the jobless rate ranged from 8.2 percent to 8.7 > > > > percent. > > > > > Today’s report showed factory payrolls fell by 161,000 after declining > > > > 169,000 in the prior month. Economists forecast a drop of 160,000. The > > > > decrease included a loss of 17,500 jobs in auto manufacturing and > > > > parts industries. > > > > > The manufacturing slump that began more than a year ago may intensify > > > > should General Motors Corp. be forced into bankruptcy, economists > > > > said. As many as 1 million additional auto-industry jobs may be lost > > > > and unemployment would climb to 11 percent, said Joseph LaVorgna, > > > > chief U.S. economist at Deutsche Bank Securities in New York. > > > > > Auto Industry > > > > > The auto slump has already rippled through the industry. Johnson > > > > Controls, a maker of car interiors and batteries, said last month it > > > > will shut 10 factories and cut about 4,000 jobs. Dana, the truck-axle > > > > manufacturer that exited bankruptcy in 2008, said it will boost its > > > > payroll reduction to 5,800 this year, 800 more than previously > > > > announced. > > > > > “We are taking the difficult actions necessary to survive,” Dana’s > > > > Chief Executive Officer John Devine said in a March 16 statement. > > > > > Service industries, which include banks, insurance companies, > > > > restaurants and retailers, cut 358,000 workers after a 366,000 decline > > > > in February. Financial firms cut payrolls by 43,000, after a 44,000 > > > > decrease the prior month. Retail payrolls decreased by 47,800 after a > > > > 50,800 drop. > > > > > Payrolls at builders fell 126,000 after decreasing 107,000, as home > > > > construction and sales remain weak. > > > > > Government payrolls decreased by 5,000 after a gain of 3,000 the prior > > > > month. > > > > > Postal Cuts > > > > > Among government job cuts that are still on the way, the Postal > > > > Service said March 20 it will close six offices and offer early > > > > retirement to about 150,000 workers in a bid to cut costs. > > > > > The population count that happens once every 10 years may limit the > > > > damage. The U.S. Census Bureau began hiring 140,000 temporary > > > > employees this month to start conducting the 2010 census. They are the > > > > first of more than 1.4 million people it will hire over the next year > > > > to poll the population. > > > > > For many Americans, this employment slump has been an unfamiliar > > > > experience. Sarah Opple, 42, was fired in February from a sales > > > > position at Gaylord Hotels in Chicago after holding a series of jobs > > > > in the hospitality industry since she was 17 years old. “It’s more > > > > real to me now,” she said in a March 26 interview. “This recession is > > > > way more tangible than the others. It makes everyone feel they could > > > > be next.” > > > > > Fewer Hours > > > > > Employers are also cutting back on hours. The average work week shrank > > > > to a record 33.2 hours in March from 33.3. Average weekly hours worked > > > > by production workers fell to 39.3 hours from 39.5 hours, while > > > > overtime was unchanged at 2.7 hours. That brought average weekly > > > > earnings down to $614.20 from $615.05. > > > > > Workers’ average hourly wages rose 3 cents, or 0.2 percent, to $18.50 > > > > from the prior month. Hourly earnings were 3.4 percent higher than > > > > March 2008. > > > > > Since taking office Jan. 20, Obama has enacted a series of measures > > > > aimed at stemming the recession. He signed into law a $787 billion > > > > stimulus plan on Feb. 17 that included spending on infrastructure > > > > projects to boost hiring. > > > > > The Treasury Department is also moving to repair the damaged financial > > > > system and lower record foreclosures, while the Fed is flooding > > > > markets with cash to boost borrowing and spending. > > > > > Bernanke last month said it was “certainly well within the realm of > > > > possibility” that unemployment nationwide could rise above 10 percent > > > > “for a period.” That’s the assumption being used in a worst-case > > > > scenario in tests to determine the health of the banking system, he > > > > said. > > > > > On Mar 6, 4:26 pm, xi- Hide quoted text - > > - Show quoted text -... > > read more » --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. 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