Tapsearch Com EditorTime to revisit the Land of ' is ' (LINK)
December 14th 2007 03:31
Bizarre Politics Reports:
Second Coming of the Clintons
It's time to revisit the Land of "is" with Senator Hillary Clinton now telling us how good the 1990s were. First of all before we show you the jobs that were lost and companies that closed downs in just one year in 1998 when President Clinton proclaimed a statistical prosperity, let's set the stage .
The Y2k crisis was on everyones mind. Billions of dollars were being poured into the economy to fix the problems. Both government and business were spending this money with the deadline being New Year's Day 2000. The cause of the problems lies in the fact that more than a million workers lost their jobs in the computer industry in about a period of ten years. Virtually, there was non one left to do computer "housekeeping".
It was due to Free Trade - Free Trade did not start with the passing of NAFTA and GATT in 1993. The U.S. Government start moving factories outside the USA in 1956.
In the 1990s many computer systems were running on automatic with very little housekeeping with all the workers losing their jobs. The Wall Street Journal reported that many corporations wanted to bring back workers to fix the Y2k problems but they were afraid the workers would do more harm than good because they were so upset about losing their jobs. Soon after President Clinton took office, about 300,000 computer workers lost their jobs just between IBM and AT&T/NCR Computers.
The billions of dollars were now being spent and boosted Clinton's economy in an artificial way. Many companies were spending money they did not have in order to survive. In the end many did not survive. The spending also covered the illusion of the Dot Coms who were creating false values in the stock market setting the stage for a collapse in 2000-2001.
For some reason, I kept a record of the job losses and company close downs in 1998 and here are some of them: ( We emphasize this is only one year during the Clinton era. )
Rockwell cuts 3,800 workers
LTV lays off 600
WorldCom cuts 2,500
Lubrizol cuts 150
American Greeting cut hundreds
Eaton cuts 200 jobs in chip-making
Sun liquidates 2,800 jobs
Hanna cuts 260 jobs and shuts down plant
Republic cuts 1,400 jobs
Bethlehem Steel cuts 750 and closes operations
Weirton Steel lays off 300 workers
World Bank cuts 750 workers
Merrill Lynch cuts 3,400 jbos
Toro closes plants after laying off thousands of workers
Huntington Bank cuts 1,000 jobs
Texaco, Royal Dutch Shell cut 4,000 jobs
Ameritech cuts 5,000 jobs
Carpet Barn closes all outlets cutting hundreds of workers
Heinz cuts 390 jobs
Cummins Engine cuts 1,000 jobs
NBC cuts 250 jobs
Toys R US closes 59 stores
Chase cuts 90 jobs locally
Boston Chicken seeks bankruptcy protection
Raytheon cuts 14,000 jobs
GE shuts down New England Plants costing thousands of jobs
Goodyears cuts hundreds of jobs
BF Goodrich vacates headquarters after thousands lose their jobs
Poloroid cuts 700 jobs
Venator Group closes 570 stores
Consolidated Gas cuts 2,600 jobs
Fruit of the Loom cuts another 5,000 workers and move factories outside the USA-
-can not afford to pay $8 an hour to workers
INTEL cuts 5,000 jobs
Seagate cuts 20,000 jobs worldwide
Digital cuts 15,000 jobs in merger with Compaq
Compaq moves factories to China
Boeing and other related companies cut 50,000 jobs
Scott Paper cuts 11,200 jobs
Wells Fargo cuts 2,000 jobs
Whirpool, Woolworth and International Payer announce large layoffs
Nabisco cuts 3,100 jobs and closes plants
Pioneer Standard cuts staff
Packard Bell lays off 1,000
AST Research cuts jobs
Kodak cuts 10,000 jobs
Goodrich closes 4 more plants
Advance Lighting cuts 2,200 jobs and closes plants
Scrabble is set to C-L-O-S-E factory
Weirton Steel idles blast-furnace
Mr Gasket eliminates jobs and outsources production
Kellog cuts 525 salaried jobs and 240 temporary jobs
LSI Logic cuts 1,200 jobs
Liz Claiborne cuts 400 jobs and shuts down stores
Just Closeouts closing all stores
Huffy cuts 1,000 jobs and closes USA plant
Texas Instruments cuts 3,500 jobs
Gateway cuts 300 workers
TRW cuts 7,500 jobs
Stanley Works lays off 5,000 workers
Cadence cuts 180 engineers
Siemen worldwide cuts 60,000 jobs
Personal bankruptcies jumped 19 pecent
Headline read: 1.34 Million-low Paying Jobs Won't Rescue the Poor
Business Failures surged 16 percent totaling 83,384 businesses failing
BF Goodrich closes down Corporate Headquarters in Akron Ohio
BP America closes down corporate headquarters in Cleveland Ohio
Reliance Electric comes to an end
This is an example of Clinton's statistical prosperity. If this happened in the 1970s, there would be Congressional Investigations. However in the Clinton era in the Land of "is", everthing depended on what your definition of "is" is....
We will be back with more in another post.
See The Second Coming of the Clinton- What you see is what you get
The Y2k crisis was on everyones mind. Billions of dollars were being poured into the economy to fix the problems. Both government and business were spending this money with the deadline being New Year's Day 2000. The cause of the problems lies in the fact that more than a million workers lost their jobs in the computer industry in about a period of ten years. Virtually, there was non one left to do computer "housekeeping".
It was due to Free Trade - Free Trade did not start with the passing of NAFTA and GATT in 1993. The U.S. Government start moving factories outside the USA in 1956.
In the 1990s many computer systems were running on automatic with very little housekeeping with all the workers losing their jobs. The Wall Street Journal reported that many corporations wanted to bring back workers to fix the Y2k problems but they were afraid the workers would do more harm than good because they were so upset about losing their jobs. Soon after President Clinton took office, about 300,000 computer workers lost their jobs just between IBM and AT&T/NCR Computers.
The billions of dollars were now being spent and boosted Clinton's economy in an artificial way. Many companies were spending money they did not have in order to survive. In the end many did not survive. The spending also covered the illusion of the Dot Coms who were creating false values in the stock market setting the stage for a collapse in 2000-2001.
For some reason, I kept a record of the job losses and company close downs in 1998 and here are some of them: ( We emphasize this is only one year during the Clinton era. )
Rockwell cuts 3,800 workers
LTV lays off 600
WorldCom cuts 2,500
Lubrizol cuts 150
American Greeting cut hundreds
Eaton cuts 200 jobs in chip-making
Sun liquidates 2,800 jobs
Hanna cuts 260 jobs and shuts down plant
Republic cuts 1,400 jobs
Bethlehem Steel cuts 750 and closes operations
Weirton Steel lays off 300 workers
World Bank cuts 750 workers
Merrill Lynch cuts 3,400 jbos
Toro closes plants after laying off thousands of workers
Huntington Bank cuts 1,000 jobs
Texaco, Royal Dutch Shell cut 4,000 jobs
Ameritech cuts 5,000 jobs
Carpet Barn closes all outlets cutting hundreds of workers
Heinz cuts 390 jobs
Cummins Engine cuts 1,000 jobs
NBC cuts 250 jobs
Toys R US closes 59 stores
Chase cuts 90 jobs locally
Boston Chicken seeks bankruptcy protection
Raytheon cuts 14,000 jobs
GE shuts down New England Plants costing thousands of jobs
Goodyears cuts hundreds of jobs
BF Goodrich vacates headquarters after thousands lose their jobs
Poloroid cuts 700 jobs
Venator Group closes 570 stores
Consolidated Gas cuts 2,600 jobs
Fruit of the Loom cuts another 5,000 workers and move factories outside the USA-
-can not afford to pay $8 an hour to workers
INTEL cuts 5,000 jobs
Seagate cuts 20,000 jobs worldwide
Digital cuts 15,000 jobs in merger with Compaq
Compaq moves factories to China
Boeing and other related companies cut 50,000 jobs
Scott Paper cuts 11,200 jobs
Wells Fargo cuts 2,000 jobs
Whirpool, Woolworth and International Payer announce large layoffs
Nabisco cuts 3,100 jobs and closes plants
Pioneer Standard cuts staff
Packard Bell lays off 1,000
AST Research cuts jobs
Kodak cuts 10,000 jobs
Goodrich closes 4 more plants
Advance Lighting cuts 2,200 jobs and closes plants
Scrabble is set to C-L-O-S-E factory
Weirton Steel idles blast-furnace
Mr Gasket eliminates jobs and outsources production
Kellog cuts 525 salaried jobs and 240 temporary jobs
LSI Logic cuts 1,200 jobs
Liz Claiborne cuts 400 jobs and shuts down stores
Just Closeouts closing all stores
Huffy cuts 1,000 jobs and closes USA plant
Texas Instruments cuts 3,500 jobs
Gateway cuts 300 workers
TRW cuts 7,500 jobs
Stanley Works lays off 5,000 workers
Cadence cuts 180 engineers
Siemen worldwide cuts 60,000 jobs
Personal bankruptcies jumped 19 pecent
Headline read: 1.34 Million-low Paying Jobs Won't Rescue the Poor
Business Failures surged 16 percent totaling 83,384 businesses failing
BF Goodrich closes down Corporate Headquarters in Akron Ohio
BP America closes down corporate headquarters in Cleveland Ohio
Reliance Electric comes to an end
This is an example of Clinton's statistical prosperity. If this happened in the 1970s, there would be Congressional Investigations. However in the Clinton era in the Land of "is", everthing depended on what your definition of "is" is....
We will be back with more in another post.
See The Second Coming of the Clinton- What you see is what you get
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