Re: US economy is like the Titanic

From: MrPepper11 (MrPepper11_at_go.com)
Date: 10/23/04 

Date: 23 Oct 2004 14:38:36 -0700

kim1 wrote in message news:<e4qkn01svis0dd8asd8om3c3m849t94p75@4ax.com>...
> On Fri, 22 Oct 2004 16:29:42 -0500, "News" <nospam@nospam.com> wrote:
>
> >A big floater sailing aimlessly.
> >
> >The chief economist of Morgan Stanley warns of ominous icebergs ahead.
> >
> >http://www.morganstanley.com/GEFdata/digests/20041022-fri.html
> >
>
> How many people have seen their gasoline prices skyrocket over the
> last 4 years? How about electric and gas bills at home? How many
> companies (inlcuding Halliburton) out there can claim they have more
> employees in the U.S. now compared to 4 years ago ? Where is this
> recovery people are claiming? There are layoffs and reductions
> announced every day. Every high-tech company I deal with has
> completely frozen hiring as of this week.

BusinessWeek 11/1/04

Outsourcing: Worse Than You Thought

U.S. employers have more than doubled the number of factory and
white-collar jobs sent overseas since 2001, according to an Oct. 15
report by the U.S.-China Economic & Security Review Commission. It
found that in the first quarter of this year, the annualized pace of
job shifts topped 400,000, vs. 200,000 three years ago.

The study likely omitted many moves, especially white-collar jobs to
China and India. Why? It's based on corporate announcements, which
many companies have stopped because of bad publicity.