Wednesday, August 23, 2006

10, 9, 8, 7, 6, 5, 4, 3, 2, 1....MELTDOWN

The company which (granted, under economic pressure) originated the $5/day paycheck in the 1920's has decided to "cut it's way to profitability" essentially by reducing it's workforce about 20%.

The decision by Ford to close plants over the weekend and reduce production by more than 20% is a bell weather. Combine that with the crash landing happening in slow motion in the housing industry, the recession is now not years away, but might be weeks, certainly only months from now.

This isn't "Chicken Little" stuff here: it's happened before. The problem is that there is absolutely no safety net for Joe and Jane Sixpack. When the Ca-Ca hits the rotary air motion transformer this time, NOBODY gets a raincoat. We will ALL take a shit bath.

- Tyler Durden's Journal

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