More Job Losses Ahead

I have not yet finished the book about our multiple bubble economy swirling down the drain, but I did state that I would write about devastating news if such occurred.  A loss of 25,000 jobs (and associated manufacturing industry) and the possible closing of 13 auto plants more than qualifies as ‘devastating’. PLUS, readers aren’t going to hear about this in the MSM because it relates to the Japan ‘quake, tsunami, and nuclear reactor meltdowns, and you know TPTB have put the meltdown under media blackout.

Toyota units partly shut down in US

Japanese automaker Toyota has announced a decision to close some of its production plants in the US due to shortage of parts after Japan’s disastrous earthquake.

Toyota’s spokesman Mike Goss said on Monday that shutting down some of the automaker’s plants in the United States is “inevitable,” AFP reported.

“We have communicated to team members, associates and dealers here that some production interruptions in North America are likely. It’s too early to predict location or duration,” Toyota said in a separate statement.

It is still unknown whether the automobile giant will shut down all of its 13 plants. However, the temporarily close-down will affect about 25,000 workers.