NPR: Layoffs Mount As Recession Gets Worse
By Barry Ritholtz - January 27th, 2009, 2:15PM
The spate of nationwide layoffs continues. Companies announced cuts to more than 40,000 on Monday. Barry Ritholtz, CEO and director of equity research at Fusion IQ who writes about the economy at his blog, The Big Picture, says layoffs are likely to continue for some time to come.
click for audio
>
Source:
All Things Considered
NPR, January 26, 2009
http://www.npr.org/templates/story/story.php?storyId=99885676&ft=1&f=1003
Tweet
Facebook
Reddit
Digg this!
January 27th, 2009 at 2:48 pm
Barry, great job !!!
It is heartening to hear someone give a rational and thoughtful take on this.
You are helping to improve the quality of the national dialogue.
Thank you.
January 27th, 2009 at 3:03 pm
I am on your side here, too, Barry.
Like you, I was occassionally on tv…and finally found a home on radio…”banished to” is so harsh a term, but apparently my face was causing a deluge of 911 calls…
Seriously, it must be enjoyable to talk in a calm and rational manner, as opposed to the 20 second frenzy you guys seem to get on CNBC…and no one interrupted you…!
January 27th, 2009 at 3:49 pm
Great job. Leave it to NPR to bring us the rational, intelligent view. No wonder I give them money twice a year… One of the few solid investments left these days.
I have two requests for when you start making rounds to promote your book: I hope to see you on Colbert Report and hear you on Wait, Wait’s Not My Job. (The Daily Show would be a close replacement.) If you don’t make any of those, I’ll just have to buy your book without the benefit of hearing you promote it.
January 27th, 2009 at 4:04 pm
After listening to the piece, I emailed NPR to suggest that had their researchers and reporters been following The Big Picture at all (or at least from 4Q ’07), NPR’s reporting of the financial crisis would not have been 6 months behind the curve, as it was all during 2008.
January 27th, 2009 at 5:35 pm
BR says:
layoffs are likely to continue for some time to come
restatement:
Your Feet Smell And Your Mom Hates You.
January 27th, 2009 at 6:13 pm
Good job Barry, and nice shirt !
January 27th, 2009 at 7:06 pm
“layoffs tend to lag recoveries so we can’t draw any conclusions from what we’re seeing today.”
This is an excellent point that is not often heard nor expressed so clearly.
January 27th, 2009 at 9:00 pm
Nicely done.
Have to take issue with NPR’s coverage of the financial crisis. Their piece on the mortgage debacle (The Giant Pool of Money) was exceptionally well done, should be required listening:
http://www.thisamericanlife.org/Radio_Episode.aspx?episode=355
January 27th, 2009 at 9:03 pm
Should have typed: “take issue with the criticism of…”
January 27th, 2009 at 9:33 pm
And puleaseee just look at the unadjusted initial claims this week, ok, just humor me….
If they are huge, like they have been….I’m just saying…”core cpi”…ok?
January 27th, 2009 at 10:43 pm
TripleB,
I listened to that This American Life piece a few months ago, and assigned it to my students (political science classes) for a semi-impromptu class on the credit crisis. Incredibly helpful, illuminating, even kind of funny in a jaw-dropping, “we are so screwed” kind of way.
January 28th, 2009 at 4:21 pm
@ TripleB
I almost included the “This American Life” piece as the exception
http://www.thisamericanlife.org/Radio_Episode.aspx?episode=355
Heard it the morning it was first broadcast and my jaw dropped, impressed by its breadth and depth compared to MSM and to what had come before on NPR, but was still left wondering, why they were so late to the epiphany.
Most of what the piece covered, I’d already read here on TBP, weeks and months earlier.
Thus, my point, had NPR folks been following TBP their reporting might have been not-so-MSM, i.e., behind the curve.