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In August, 403 mass layoff events were reported in the
manufacturing sector, resulting in 46,540 initial claims.
Employers took 1,546 mass layoff actions involving 150,192
workers. Events decreased by 63 over the month, while associated
initial claims increased by 6,489.
On August 26, the US Department of Labor issued a news release (http://www.dol.gov/ebsa/newsroom/2010/ebsa082610.html). It lists the agenda for the joint hearings being held with the Department of Treasury September 14-15, 2010 on what is euphemistically called “lifetime income options for retirement plans.” The hearings are being conducted by the Labor Department’s Employee Benefits Security Administration.
I don’t like speaking in tabloid-style terms, but the unstated agenda of these hearings, as I understand it, is to push for the US government to eventually nationalize (confiscate) all assets in private Individual Retirement Accounts (IRAs) and 401K plans!
The US government is desperate to get its hands on private assets to help cover soaring budget deficits and debts, and this is simply the largest and easiest piggy bank that could be seized. The Investment Company Institute estimates that at the end of 2008 that there were $3.613 trillion of assets in IRAs and $2.350 trillion of assets in 401K plans.
US Departments of Labor and Treasury Schedule Hearing on Confiscation of Private Retirement Accounts | Coin Update News.
NYTimes blames non-recovery on the rich.
Wealthy Reduce Buying in a Blow to the Recovery
The economic recovery has been helped in large part by the spending of the most affluent. Now, even the rich appear to be tightening their belts.MultimediaGraphicSaving vs. SpendingLate last year, the highest-income households started spending more confidently, while other consumers held back. But their confidence has since ebbed, according to retail sales reports and some economic analysis.“One of the reasons that the recovery has lost momentum is that high-end consumers have become more jittery and more cautious,” said Mark Zandi, chief economist for Moody’s Analytics.That cautious attitude stems in part from concerns about global instability, especially in Europe, and in part from the volatility of the stock market in recent months. Major stock indexes fell sharply on Friday, after several big companies announced disappointing earnings. Bank stocks were the biggest losers as investors wrestled with the twin issues of lower trading profits from Citibank and Bank of America and the prospect that new financial regulation would further crimp their businesses.
via The Rich Catch Everyone Else’s Cutback Fever – NYTimes.com.
The U.S. is attempting to push its agenda to censor all GMO labeling of foods everywhere around the world. This would result in a global GMO cover-up as consumers are left in the dark about whether their foods and grocery products are genetically modified or not.Your help is urgently needed to send a message to the Secretaries of State Clinton, Agriculture Vilsack, and Health and Human Services Sebelius to urge them to halt the USA’s nefarious attempts to install a global GMO deception.Take part in this online petition, go here:http://www.seedsofdeception.com/GMF…Please understand that the U.S. is attempting to outlaw non-GMO labeling of foods, thereby making it illegal for a non-GMO food product to even claim “non-GMO” on the label.
via GMO alert: U.S. attempting global censorship of GMO food labeling.