November 01, 2009 8:59:01 PM by NoobRep


Just found out that my cousin and uncle, who both worked at the same company, both lost their jobs Friday. Their former company actually is laying off 900 people nationwide.

They are involved in the logistics/shipping industry and I don't know the name of their company but it is clear that there is little demand out there for products right now. Rush was right when he said very few companies are keeping inventory and if you order something now they have to create the goods when your order arrives.

My uncle will probably be okay but my cousin has a family to feed and its going to be tough to find something new with so few companies hiring right now. I'm not even sure they got any severance. Just out of work like that.

So all the BS coming from the mouth of Robert Gibbs is just that-BS. I'll probably email Rush, Sean, Glenn etc and ask them if they'll use this story to let people know what's going on out in the real world.

On a sidenote, I know most economists track the Baltic Dry Index as a leading indicator but could that fact that leading shipping companies are laying off people be a sign that we're in huge trouble?