Big news ahead of this Friday’s NFP report:
•CITI TO CUT OVER 11,000 JOBS, TAKE PRETAX CHARGE $1B IN 4Q
“Sandy’s fault?” or better yet, “Vikram’s fault.” Or maybe the economy is collapsing despite all the propaganda one is spoonfed. Considering the recent termination of over 50,000 by UBS we think we know the answer. And while C stock may jump on the news, the end result is that New York and the US have both just lost 11,000 less key taxpayers most of whom are almost certainly in the $250,000+ bucket. That said we can’t wait for the BLS to take this data as somehow beneficial for the unemployment rate.
Read more at zerohedge.com …
Slowly the US economic collaspe continues, as we hurl towards the turd world econopmy Obama wants for the USA.
It isn’t fair the American people are so smart. So how we gonna fix that?