Prague Twin

Wednesday, October 04, 2006

Two Cents

A big day for the Dow

Blue-chip indicator manages highest close ever, taking out a 6-1/2-year-old record; falling oil is the catalyst.

Job cuts top 100,000 in September

Survey shows planned layoffs driven by softness in automotive, housing sectors.

Same day.


  • I feel bad that our national automakers are swirling in the bowl, because of a vague national pride and of course because of the suffering of the out of workers and their families. Some of the blame certainly belongs to management (especially at the Pontiac division where every car was butt ugly for years) but some of it goes to the workers who have priced themselves out of the world market vis a vis the product they deliver.
    Is there an announcement of net new jobs each month anywhere?

    By Blogger Roger Fraley, at 1:16 AM  

  • Funny how they talk about it being the worker's fault, and yet somehow German automakers and French automakers can still compete.

    Do you really think they make less? Add in the fact that they get free health care and you start to see who's government is doing a better job of taking care of it's industrial base.

    There is a difference betweeen fair trade and free trade and America better figure it out soon, although it looks to be too late.

    On the flip side, if the industry is to be let go, education had better take up the slack, but I don't see much of that happening either.

    By Blogger Praguetwin, at 8:25 AM  

  • in the latest WSJ/NBC poll, somewhere in the neighborhood of 61% of those surveyed said how the stock market performs does not affect how they feel about the economy. And in the poll, just about 61% of those surveyed said the economy is either fair or poor.

    I guess that 61% wouldn't be Kudlow and Friends watchers.

    By Blogger reality-based educator, at 1:37 PM  

  • Again, bad news (services ISM down) is fuelling the current rally. How obviously disconnected is the Dow from what a healthy economy means for the rest of us?

    Thanks for the stats, btw.

    By Blogger Praguetwin, at 4:52 PM  

  • 100,000 jobs lost! wow. and corporate profits are up

    By Blogger GraemeAnfinson, at 7:46 PM  

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