Multinationals outsourced all of the industrial jobs to China where workers are now being replaced by robots. It's China's way of creating a middle class, which today's EconoDunces have bet everything on happening...
Apple supplier cutting costs even more:
Chinese consumers switching to cheaper phones:
Doh! Tim Cook you greedy fuck:
"Apple reported a 26% year-over-year decline for revenue in China"
Meanwhile, tomorrow is the breathlessly awaited jobless report. Once again expectations are high, even though the number has been trending down for six months straight.
This chart shows quarterly profits with quarterly payroll growth:
Corporate profits are in 2011 and falling...
Corporations are putting themselves out of business, one layoff at a time...
So they can sell into a no bid market
Mind the GAAP:
Mind the Gap:
Apple
"For some reason our China strategy isn't working"
