Great Depression 2 will hit by 2011
The above article is on Marketwatch and the way I see it, the next Depression must be a done deal if they can find not 1, not 5, but 30 reasons that we might as well stick a fork in our economy. Where exactly where these journalists when the Dow was over 14k?
Citi to Cut 53,000 Jobs, Boosting Total to 20%
Another story that really bothered me today was the Citigroup piece regarding the 53,000 employee reduction within their company. At what point do the big executives wake up and say, “Hey, I think we need to cut 50,000 jobs because we don’t need them anymore.” Don’t they have a department designed to keep a balance between work and employees? This scene from Office Space is what I picture went on inside the company when they were trying to figure out who to cut?