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| Economy |
| DOGE This: DC Layoffs May Top Million, Recession Risks Soar As Jobs & Housing Sour |
| 2025-02-28 |
| [ZeroHedge] The Trump administration's epic purge of federal workers is shaping into one of the most significant job cuts in a generation. Early indicators suggest Northern Virginia, Washington, DC, and Maryland may be in the beginning innings of an economic downturn, as jobless claims rise and a surge in active housing listings signals a very ominous outlook. On Thursday morning, Torsten Slok, chief economist at Apollo, joined Bloomberg TV, warning, "The consensus expects total DOGE-related job cuts to be 300,000 ... However, studies show that for every federal employee, there are two contractors." Dominic Konstam, head of macro strategy at Mizuho, asked: "DoGE-led recession risk?" The market is focused on a negative economic fallout from Federal spending cuts. The level of potential Federal job losses is too small to derail growth, but overall government spending has been egregiously high in recent years. There has also been excessive job growth in the "government" sectors, including federal, state, and local government, as well as in education and health. If DoGE sets a precedent on jobs and achieves spending cuts that ricochet through the quasi-public sector, it is likely that new economic headwinds will develop. ​​ |
| Posted by:Skidmark |
| #5 Question (#3) answered |
| Posted by: Mercutio 2025-02-28 17:58 |
| #4 Recession. Whole fuggn country having problems but them, because of them. And those aren't jobs lost, those are tax payer sponsored. |
| Posted by: swksvolFF 2025-02-28 15:46 |
| #3 One does wonder what a million clerks will find to do to earn them their kibble. One wonders what they were doing before all this started. I mean, really, what were they doing that was so all fired important? |
| Posted by: Abu Uluque 2025-02-28 11:10 |
| #2 It is a risk I am willing to take. Do it quick. The world constantly adjusts. Stop wasting money and by time the next election comes around Americans will realize that their everyday life was not really dependent on the one million let go. |
| Posted by: Airandee 2025-02-28 10:35 |
| #1 One does wonder what a million clerks will find to do to earn them their kibble. |
| Posted by: Mercutio 2025-02-28 09:54 |