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    BTRfan

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    Re: US Economy Thread

    Post  BTRfan on Thu Oct 15, 2015 1:49 pm

    Rodinazombie wrote:
    BTRfan wrote:
    nemrod wrote:
    http://theeconomiccollapseblog.com/archives/right-now-there-are-102-6-million-working-age-americans-that-do-not-have-jobs



    Right Now There Are 102.6 Million Working Age Americans That Do Not Have A Job

    The federal government uses very carefully manipulated numbers to cover up the crushing economic depression that is going on in this nation.  For the month of September, the federal government told us that 142,000 jobs were added to the economy.  If that was actually true, that would barely be enough to keep up with population growth.  Sadly, the truth is that the real numbers were actually far worse than that.  The unadjusted numbers show that the U.S. economy actually lost 248,000 jobs in September and the government added more than a million Americans to the “not in the labor force” category.  When I first saw that number I truly believed that it was inaccurate.  But you can find the raw figures right here.  According to the Obama administration, there are currently 7.9 million Americans that are “officially unemployed” and another 94.7 million working age Americans that are “not in the labor force”.  That gives us a grand total of 102.6 million working age Americans that do not have a job right now.

    That is not an economic recovery – that is an economic depression of an almost unbelievable magnitude.

    This is something that my friend Mac Slavo pointed out the other day.  I encourage you to read his analysis right here.  If we measured unemployment the way that we did decades ago, we would all be talking about how similar Obama’s economy is to the Great Depression of the 1930s.

    But instead we let the feds get away with feeding us this completely fraudulent “5.1 percent” unemployment number and most of us believe the mainstream media when they tell us that everything is just fine.

    Well no, everything is not just fine.  At this point, the labor force participation rate is the lowest that it has been since 1977.  And the labor force participation rate for men is at the lowest level ever recorded.  The only way that the federal government has been able to get the official unemployment rate to go down so much is by pretending that hundreds of thousands of Americans that have been unemployed for a very long time “leave the labor force” each month.

    The chart posted below shows how our labor force participation rate has deteriorated since the year 2000.  And in particular, the decline since Obama first entered the White House has been very striking.  Does this look like a “healthy economy” to you?…

    To me, the civilian employment-population ratio is a far more accurate measurement of the employment picture in America than the official unemployment rate is.  Just prior to the last recession, approximately 63 percent of all working age Americans had a job.  During that recession, that figure slipped below 59 percent and it stayed there for several years.  Just recently it slipped back above 59 percent, but as you can see we are now falling once again…

    The reason this number is falling is because lots of Americans have been losing jobs lately.

    In fact, we are seeing layoffs at major firms at a level that we have not witnessed since 2009…


       The jobs report today has been described as “ugly,” though it certainly didn’t, or shouldn’t have, come out of the blue: Layoffs in the energy, Big Tech, retail, and other sectors have recently mucked up our rosy scenario.

       “The third quarter ended with a surge in job cuts,” is how Challenger Gray, which tracks these things, started out its report yesterday. In September, large US-based companies had announced 58,877 layoffs. In the third quarter, they announced 205,759 layoffs, the worst quarter since the 240,233 in the third quarter of 2009!

       Year-to-date, we’re at nearly half a million job cut announcements (493,431 to be precise), up 36% from the same period last year.


    Some of the companies that have recently announced layoffs include Wal-Mart, RadioShack, Delta, Sprint, ConAgra, Caterpillar, Bank of America, Halliburton, Qualcomm, Microsoft and Hewlett-Packard.

    If you need to find a job or you plan to switch jobs in the near future, time is of the essence.  Jobs are going to become much, much harder to find in the months ahead, and so every single day of job searching is absolutely critical at this point.

    Right now, there are more than 100 million Americans that get some sort of assistance from the federal government every month.  Government dependence is at a level that we have never seen before in U.S. history, and it is going to get a lot worse.

    If we get to a point where the government is either unwilling or unable to take care of all of these people, we are going to have a massive societal problem on our hands.  More than a third of the people living in our nation cannot independently take care of themselves, and more Americans are falling out of the middle class every single day.  When the welfare state starts breaking down, the chaos that will ensue will be far worse than most people would dare to imagine.

    So what do you think?

    Are job losses and layoffs starting to happen in your area?

    Please feel free to add to the discussion by posting a comment below…





    I think Russia should start training, equipping, funding, and arming "moderate rebels" in the USA. If there are not presently any "moderate rebels" then perhaps Russia can organize some and pay them.

    There are millions of unemployed people in the USA, Russia could offer $3,000 per month + equipment, supplies, and training, for "moderate rebels" to fight the government to bring about an end to a regime that is rife with human rights abuses.

    They can even launch air strikes on regime forces and loyalist paramilitary groups that insist on defending the tyrannical regime once the "moderate rebels" begin to claim territory.

    Lol, when america does go down the pan, its gonna be a very frightening time. Can you imagine how the modern violent gun cultured american society would deal with a 1930s style depression? It doesnt bear thinking about. I think its would be a civil war.




    The USA is not even in the top 100 for more dangerous nations. It is a very safe nation.

    When the government is no longer a factor, a lot of the criminal element will simply be cut to pieces.
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    max steel

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    Re: US Economy Thread

    Post  max steel on Thu Oct 15, 2015 2:41 pm

    dangerous in what sense ?


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    Re: US Economy Thread

    Post  max steel on Tue Nov 03, 2015 11:28 pm

    US overtakes Caymans and Singapore as haven for assets of super-rich

    Austin

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    Re: US Economy Thread

    Post  Austin on Wed Nov 04, 2015 5:15 am

    Not Russian but still

    Washington Times: $20 trillion man: National debt nearly doubles during Obama presidency


    When President Obama signs into law the new two-year budget deal Monday, his action will bring into sharper focus a part of his legacy that he doesn’t like to talk about: He is the $20 trillion man.

    Mr. Obama’s spending agreement with Congress will suspend the nation’s debt limit and allow the Treasury to borrow another $1.5 trillion or so by the end of his presidency in 2017. Added to the current total national debt of more than $18.15 trillion, the red ink will likely be crowding the $20 trillion mark right around the time Mr. Obama leaves the White House.

    When Mr. Obama took over in January 2009, the total national debt stood at $10.6 trillion. That means the debt will have very nearly doubled during his eight years in office, and there is much more debt ahead with the abandonment of “sequestration” spending caps enacted in 2011.

    “Congress and the president have just agreed to undo one of the only successful fiscal restraint mechanisms in a generation,” said Pete Sepp, president of the National Taxpayers Union. “The progress on reducing spending and the deficit has just become much more problematic.”

    Some budget analysts scoff at the claim made by the administration and by House Speaker John A. Boehner, Ohio Republican, that the budget agreement’s $112 billion in spending increases is fully funded by cuts elsewhere. Mr. Boehner left Congress last week.

    “The Boehner-Obama spending agreement would allow for unlimited borrowing by the Treasury until March 2017,” said Paul Winfree, director of economic policy studies at The Heritage Foundation. “This deal piles on billions of dollars to the national debt by increasing spending over the next three years and then not paying for it for a decade — with half of the offsets not occurring until 2025.”

    The bipartisan Committee for a Responsible Federal Budget estimated that only about half of the increased spending in the budget deal is paid for. Rather than a spending increase of $80 billion over two years, the nonprofit group said, the actual spending hike is $154 billion when interest costs and budget gimmicks are factored into the equation.

    “Of this $154 billion, about $78 billion is paid for honestly” through Medicare reforms, reductions in farm subsidies, asset sales and other measures, the group said. “The remaining $56 billion of the legislation — mostly the war spending increase and interest costs — is not paid for at all.”

    Of course, Congress bears equal responsibility for the high level of debt. A prime reason that Mr. Boehner left office was conservatives’ displeasure with his accommodation of the president’s budget requests, aside from three years of “sequestration” spending caps that helped limit annual deficits.

    “We will be raising the debt ceiling in an unlimited fashion,” said Sen. Rand Paul, a Kentucky Republican who tried to filibuster the budget deal before the Senate approved it in the wee hours of Friday. “We will be giving President Obama a free pass to borrow as much money as he can borrow in the last year of his office. No limit, no dollar limit. Here you go, President Obama. Spend what you want.”

    Ever-expanding debt

    The president said Friday that the agreement “is paid for in a responsible, balanced way.”

    “This agreement will strengthen the middle class by investing in education, job training, and basic research,” Mr. Obama said. “It will keep us safe by investing in our national security. It protects our seniors by avoiding harmful cuts to Medicare and Social Security. It locks in two years of funding and should help break the cycle of shutdowns and manufactured crises that have harmed our economy.”

    When Mr. Obama talks about fiscal matters, he usually takes credit for cutting the deficit by two-thirds. He also is correct that annual budget deficits have fallen from $1.4 trillion in fiscal 2009, in the depths of the recession, to $439 billion in fiscal 2015.

    But the president rarely, if ever, mentions the accumulation of those annual deficits and what the rising national debt means for the country, for the presidents who will follow him and for the nation’s ability to pay for its priorities.

    “Debt service will continue to consume a larger portion of the federal budget, and we’ll be looking at gross interest payments on the national debt of close to $1 trillion [annually] by the time another decade passes,” Mr. Sepp said.

    Annual net interest payments on the national debt are projected to rise from around $220 billion currently to $755 billion in 10 years. Policymakers in Washington have been fortunate to date because interest rates have been at historic lows for several years.

    “Debt payments comprise 6 percent of all spending now, but will more than double to 13 percent in 2025,” said Demian Brady, The National Taxpayers Union Foundation’s director of research. The nonpartisan Congressional Budget Office “cites two main causal factors: an expected eventual rise in interest rates, and the continuing expansion of the federal debt.”

    Supporters of the budget agreement point to structural reforms in entitlement programs, including a deal that will prevent a 20 percent across-the-board cut in Social Security Disability Insurance benefits for 11 million people next year.

    But Mr. Sepp said it’s not clear whether the provision represents meaningful reform or another budget gimmick.

    “The infusion of cash from the retirement portion of the [Social Security] program will carry disability insurance for several years before any of the major reforms to the program fully kick in,” he said. “Lawmakers are claiming that they stopped kicking the can down the road on [Social Security Disability Insurance] when they’ve really just kicked the can into another lane of the road.”

    Fiscal conservatives say it doesn’t seem to matter which party controls the White House or Congress when it comes to spending increases.

    “When I ran for office in 2010, the debt was an enormous issue and the debt was $10 trillion,” Mr. Paul said Friday on the Senate floor. “Some of us in the tea party were concerned because it had doubled in the [previous] eight years. It doubled from five [trillion dollars] to 10 under a Republican administration. And many of us were adamant that Republicans needed to do a better job. We had added new entitlement programs, we had added new spending, and the deficit got worse under Republicans. Now we’re under a Democrat president, and it’s set to double again.”
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    sepheronx

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    Re: US Economy Thread

    Post  sepheronx on Wed Nov 04, 2015 5:33 am

    It will go to infinity.  They will never pay it back, cannot pay it back.  Debt is a massive contributor to their GDP.  Which is an arbitrary number seeing as how it doesn't help them or their population.
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    Re: US Economy Thread

    Post  kvs on Wed Nov 04, 2015 5:37 am

    I guess it is time for the US credit rating to be increased to AAA+.

    In the Orwellian toilet called the west, the ability to pay down debt is very bad. But unbounded accumulation of debt is
    very good.
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    Neutrality

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    Re: US Economy Thread

    Post  Neutrality on Wed Nov 04, 2015 11:38 am

    The only situation in which the US have to worry is when countries with large deposits of dollars start massively dumping them on the market in order to finance their own debt. What China has been doing in the past 2 months was a good example of that. Now take China, Russia, Saudi Arabia and all the other countries that have massive dollar reserves. If they ever throw them out, the US will have a massive headache. However, and I'm sure, they have alternative plans ready to counter such a move.

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    Re: US Economy Thread

    Post  Project Canada on Wed Nov 04, 2015 1:05 pm

    However, and I'm sure, they have alternative plans ready to counter such a move.

    im guessing its somewhere along the line like ww3

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    Washington Times: $20 trillion man: National debt nearly doubles during Obama presidency

    Post  Austin on Wed Nov 04, 2015 1:54 pm

    Neutrality wrote:The only situation in which the US have to worry is when countries with large deposits of dollars start massively dumping them on the market in order to finance their own debt. What China has been doing in the past 2 months was a good example of that. Now take China, Russia, Saudi Arabia and all the other countries that have massive dollar reserves. If they ever throw them out, the US will have a massive headache. However, and I'm sure, they have alternative plans ready to counter such a move.

    Financial expert are saying West will soon enter a period of massive deflation followed by hyper inflation.

    The other issue is servicing these debt will become more expensive as interest rate rise even 0.25 % as expected.

    I have been advocating CBR should buy more gold and should stop investing in Green Buck.
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    Rmf

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    Re: US Economy Thread

    Post  Rmf on Wed Nov 11, 2015 11:15 pm

    inequality

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    Re: US Economy Thread

    Post  kvs on Thu Nov 12, 2015 12:00 am

    Rmf wrote:inequality

    QPKKQnijnsM

    Very nice video. There is no middle class in America, there are 80% poor and 20% rich. It is an "upgraded" 3rd world country.
    (BTW, nothing requires 3rd world countries to be toilets of poverty, all that matters is the wealth and power distribution).
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    Re: US Economy Thread

    Post  Regular on Thu Nov 12, 2015 12:15 am

    kvs wrote:
    Rmf wrote:inequality

    QPKKQnijnsM

    Very nice video.   There is no middle class in America, there are 80% poor and 20% rich.   It is an "upgraded" 3rd world country.
    (BTW, nothing requires 3rd world countries to be toilets of poverty, all that matters is the wealth and power distribution).
    Idk, but poor americans sure have better life than working and middle-class here in most of the Europe.
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    Re: US Economy Thread

    Post  kvs on Thu Nov 12, 2015 12:43 am

    Regular wrote:
    kvs wrote:
    Rmf wrote:inequality

    QPKKQnijnsM

    Very nice video.   There is no middle class in America, there are 80% poor and 20% rich.   It is an "upgraded" 3rd world country.
    (BTW, nothing requires 3rd world countries to be toilets of poverty, all that matters is the wealth and power distribution).
    Idk, but poor americans sure have better life than working and middle-class here in most of the Europe.

    You can't possibly be serious. The poverty in America reaches into the actual 3rd world levels. For example in Appalachia
    and southern states like Mississippi. You would be hard pressed to find a city like Detroit in the EU and you can't even find
    one as dirt poor in Canada. A Google search will get you some idea.

    There are 45 million Americans with basically zero health care (not private, not public). Europeans are spoiled rotten with
    welfare by US standards.
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    Re: US Economy Thread

    Post  Regular on Thu Nov 12, 2015 1:55 am

    What You call rich and poor? If You earn $27k p/y could you be considered rich or poor for average person in USA?
    I said what I've seen with my eyes. Been to states not long ago, visited my family and friends living there and did some business. Even got a job in local warehouse as despatch operator after two days out of plane. I had to do it to help open Bank of America account while on Visa. Haha.
    Never been on welfare, know plenty of brits who are struggling and don't get it.
    But I grew up through 90s when going hungry to bed was normal. Believe me Detroit is looking OK compared to shithole im from.
    Now with then strong Sterling I noticed
    Consumer goods were way cheaper. Services too. Fell in love with cost of fuel and rent prices.

    Americans are stupid like fuck tho, their security is so fucking loose and outdated compared to rest of Europe and UK. thanks to that smart Cali russians are rolling in dough. Not to mention credit cards, haha how they are not bankrupt.
    I despise americans like fuck, fat, stupid and ugly, but life there is easy. Yeah there are hobbos, but it's their own fault they are like that. I've seen hardship, my parents did, my grandparents did and so on, but we worked, didn't drown in drugs and alcohol or self sorrow. Oh boohoo, most of poor in states are uneducated( thanks to their amazing system) lazy idiots. Ofc there are people with health problems, they are real victims who have no help, but still.
    Mexicans are doing well in states cause they are good workers and have good working ethic. A trait not found among most niggers, rednecks and general shitbrains in US.
    Deffo going back to states next year I am even thinking expanding my business to states as most of the stuff I buy is from there. (Or should I say China)
    And yeah I am not rich at all, hardly broke profit this year in UK. I hate the taxes, fucks me up that I have support cohorts of spongers.

    Btw, NHS in UK is terrible. Was waiting for appointment for a month them for two until my I started vomiting blood. Very Happy
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    inequality USa

    Post  GarryB on Fri Nov 13, 2015 7:35 am

    Americans poor have house , TV , Car and EBT cards to meet his/her daily requirements. Middle class in US has reduced in past 3-4 decades but still they are in better postn when compared with world.

    Really... so all those people living in trailer parks and on the streets of US cities have houses and cars and TVs?

    Do they get special shoes so they don't injure their feet on the gold paved streets?

    I agree that compared with third world countries where there is no welfare support for citizens they are rather better off... in a western society like the US there is little chance of starvation when most supermarkets throw away perfectly good food every day, but I don't think many in the west who have a job would think the grass is greener for those homeless people with no where to live.

    With no address you can't get a bank account and with no bank account you can get paid in most legal jobs. Who is going to hire a homeless person who might decide to leave with no warning?

    It is a viscous cycle... can't get a house with no job, can't get a job with no house.

    Half the people with house don't even own them... their bank owns them... they just rent to buy for 30-40 years.

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    Re: US Economy Thread

    Post  Austin on Sun Nov 15, 2015 5:51 am

    Peter Schiff in his new podcast says US never recovered from 2008 recession and going into a new one


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    Re: US Economy Thread

    Post  sepheronx on Mon Nov 16, 2015 2:36 am

    I do not like posting about other countries economic news here, but since we are having a go at it, I might as well post this:


    Essentially, US total debt could reach $65T this year.

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    Re: US Economy Thread

    Post  Austin on Mon Nov 16, 2015 4:05 am

    For long as World Keeps buying US debt they can afford to print out of their problem but with China getting accepted into IMF currency basket , In the next 5 years this huge debt would eventually come to haunt the US.
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    Re: US Economy Thread

    Post  kvs on Mon Nov 16, 2015 4:13 am

    Austin wrote:For long as World Keeps buying US debt they can afford to print out of their problem but with China getting accepted into IMF currency basket , In the next 5 years this huge debt would eventually come to haunt the US.

    The problem is that all the good jobs are disappearing offshore from the US and the middle class continues to shrink. So
    all of the funny money is failing to maintain the US core economy.

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    Re: US Economy Thread

    Post  Austin on Mon Nov 16, 2015 6:31 am

    ^^ Yes that is true , I think the next crash when that happens will significantly impact the dollar , I think the need to get Yuan into IMF basket currency is to delay the inevitable
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    Peter Schiff in his new podcast says US never recovered from 2008 recession and going into a new one

    Post  sepheronx on Mon Nov 16, 2015 7:05 am

    Hence why the US is eager for conflict, as to pro-long the inevitable.  When a country is in need of development, whom do you think they will turn to?  The US agents will come in with a briefcase of money and state that they have all that said country needs to develop itself and modernize, all at a cost.

    In doing so, it is to keep the USD as the main trading currency and to keep a lot of countries in-debt to the US so they have more levee against them.
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    Re: US Economy Thread

    Post  max steel on Sat Dec 26, 2015 12:25 am

    58 Facts About The U.S. Economy
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    Re: US Economy Thread

    Post  max steel on Sat Jan 16, 2016 9:39 am

    U.S. Recession Odds Highest Since '13

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    Re: US Economy Thread

    Post  Godric on Sat Jan 16, 2016 5:40 pm

    it is no coincidence that we are heading towards another global crash when you see oil at almost record low prices many economies reliant on oil sales have seen their budgets drastically fall and their currencies depreciate and some currencies are due a severe fall as their currency strength in reality is weak ie the US dollar, Sterling, Euro to name but 3 .... Russia is not the only country that relies on oil prices only 18 months ago the Uk was boasting of a £200- £300 ($300-$450 Billion) billion oil bonanza from North Sea oil over the next 5 to 10 years and then their is Norway with over 30% of their economy based on oil this years recession will probably be even worse than 2007/08
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    Re: US Economy Thread

    Post  max steel on Wed Mar 30, 2016 10:08 pm

    Boeing job cuts this year could reach 10 percent

    Since Boeing Commercial Airplanes CEO Ray Conner announced a drive to cut the workforce six weeks ago, his team has taken steps expected to eliminate 4,000 jobs by June — and that may be only halfway towards the total cuts this year.

    An internal Boeing document obtained by the Seattle Times reveals that at least one company unit is targeting a 10 percent workforce reduction overall.

    And people with knowledge of what’s planned say that’s roughly the percentage of jobs expected to be cut statewide. That would translate to as many as 8,000 jobs being eliminated.

    Asked about the plans, Boeing said Tuesday the initial jobs eliminated include “hundreds of executives and managers” and that the 4,000 figure will be achieved through normal attrition and a voluntary buyout package for about 1,600 employees.

    The workforce reduction is part of a major cost-saving push that also involves squeezing supplier costs, increasing productivity, shrinking inventory and cutting travel, overtime, services and contractor expenses — an effort that Boeing said “involves taking out billions of dollars in cost by the end of 2016.”

    If enough savings cannot be found elsewhere and more job cuts are required, layoffs would come later in the year, Boeing said.

    Boeing Commercial Airplanes (BCA) vice president of communications Sean McCormack said Tuesday that “our targets are dollar-based.”“The more we reduce non-labor costs, the less impact there will be to jobs,” he said.

    One Boeing unit in the Puget Sound area — the Test & Evaluation division that conducts flight, ground and lab tests — recently outlined very precise job-cut targets in an internal guidance document telling managers what to expect.

    It begins: “We anticipate the need to reduce staffing levels about 10 percent before the end of the year.”

    BCA chief executive Ray Conner first announced that job cuts were coming last month in an internal webcast to all Commercial Airplanes employees, a precise account of which has not previously been made public.

    According to a Boeing transcript of that webcast, Conner said the company needed to drastically reduce costs — and thus airplane pricing — because of fierce sales competition from Airbus.

    “Their biggest weapon that they’re using in the competitions today is price,” Conner told employees. “They are attacking us with price in every single campaign. And as a result of that, you know, we’re being pushed to the wall.”

    Danger for Boeing


    Adam Pilarksi, senior vice president with Chantilly, Va.-based aviation consultancy Avitas, said saving billions of dollars through cutting supplier costs and increasing productivity can only be a long-term goal.

    “In a few years, yes, things can change. By the end of the year, are you kidding me?” he said. “The only way you quickly can reduce costs is by laying people off. There’s no magic about it.”

    But Pilarski said there is a danger for Boeing in cutting too many jobs, especially as it plans to match Airbus by revving up 737 production to 57 jets per month and 787 Dreamliner production to 14 jets per month.

    “I cannot see how you cut employment 10 percent and keep production levels increasing,” Pilarski said. “The two don’t go together. Something has to give.”

    Many older, highly experienced blue-collar workers will be leaving the company as part of the cuts.

    A person familiar with the figures said more than 1,000 Machinists applied for the buyout when it was offered this month, though Boeing may reject some of those because they have skills that cannot be let go.

    The severance package, designed to appeal to those already intending to retire soon, advances full pension eligibility and also offers a week of pay for every year of service up to a maximum of 26 weeks.

    Jon Holden, District 751 president of the International Association of Machinists (IAM) union, expressed surprise when informed of the potential scale of the job cuts.

    “We have not been notified of these types of reduction numbers,” Holden said.

    He said the coming cuts highlight a lack of accountablity for the $8.7 billion in aerospace tax breaks extended to Boeing in 2013 to make sure Boeing built the 777X here.

    “This should make it clear to the Legislature why it is important to tie guaranteed job numbers to tax incentives like the other states have done,” Holden said.

    Likewise, Ray Goforth, executive director of the Society of Professional Engineering Employees in Aerospace (SPEEA), is exasperated that “we’re the only state that’s not attaching accountability requirements” to corporate tax breaks.

    More than 9,000 Boeing jobs here have been eliminated since the fall of 2012, many of them through transfering engineering work to Boeing sites in other states.“Now we are losing thousands more jobs,” said Goforth.


    “That’s our reality, guys”



    In justifying the anticipated cuts to employees in last month’s internal webcast, Conner was unusually frank as he invoked a dire threat from Airbus.

    He said that Airbus winning 63 percent of single-aisle sales last year with its A320 jets going against Boeing’s 737 jets was “alarming … because the 737 is the biggest contributor to the earnings of the Boeing Company.”

    While the 737s had once been much better than the A320s, Airbus has narrowed the gap and the A321neo is now “a very competitive machine against the MAX 9,” Conner acknowledged

    He gave the example of Korean Air, previously an all-Boeing 737 operator, which last year split a new order for 60 jets between the 737 MAX 8 and the A321neo.

    Even in the market for bigger twin-aisle aircraft, Conner said, “We’ve ceded ground to Airbus.”

    He cited another sales campaign last year, when longtime all-Boeing customer EVA Air of Taiwan bought 18 of the largest 787-10 Dreamliners, despite intense pricing pressure from the competing Airbus A350-900.

    Boeing had to dig deep to close a large price gap, “not all the way but just enough so we were able to win,” Conner said.

    Combining single-aisle and twin-aisle sales, he said Boeing now has 46 percent of the total backlog. Airbus is “trying to drive us to 40 percent,” which he said would anoint the European jetmaker as the securely dominant player.

    “That’s our reality, guys. That’s what we’re dealing with,” Conner told employees. “And with the market kind of stabilizing here and not seeing the kind of growth or the opportunities for more campaigns, I think we’re going to be in an even tougher fight as we move into 2016 and beyond.”

    With that bracing rationale, Conner then laid out bad news of the coming job cuts.“These reductions apply everywhere, to every work group,” Conner said.

    He said he didn’t know how many jobs would be cut, “because a lot of it depends on how efficient we can get … and how much cost we can actually get out.”

    “We’re going to start at the executive level and at the management teams. And then we’re going to look at attrition and we’re going to look at voluntary layoffs,” Conner said.Moving beyond buyouts to involuntary layoffs is “the last thing we want to do,” he said.

    Some parts of BCA will be affected more than others by the cost-cutting.

    North Charleston, S.C., seems relatively safe. Last month, Boeing South Carolina vice president Beverly Wyse said she expects employment there to be stable for the next few years.

    “I don’t anticipate any layoffs,” she said.Elsewhere, offers of voluntary layoffs have already gone out to units around the company, including to the Southern California customer support group that Boeing moved from Washington state over the past three years.

    Boeing’s workforce in Washington state, including commercial airplanes, defense and corporate units, stood at just over 79,200 at the beginning of the year.

    At that time, total BCA employment companywide stood at 83,500.BCA’s projected tally of 4,000 jobs eliminated by June gets Boeing almost halfway to 10 percent.If it comes down to getting another 4,000 in the second half of the year, that will certainly be more painful.

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      Current date/time is Tue Dec 11, 2018 11:25 am