Carl Spackler

Time to Venture Out of the Cave?

If your coming out of the cave, you better make sure you can duck back in the cave. Incredible job losses await over the next few months. In addition, job losses are muted due to the large number of salary roll backs. A huge number of firms are issuing 10% roll backs in salarys instead of job cuts. These are effectively the same as job cuts, but will not show up on the unemployment numbers. This slowdown is going to go deeper than expected - and thats hard to imagine.