This is how the fucking economy works.
Continental Airlines Inc said on Thursday it would cut 3,000 jobs, or about 6.5 percent of its work force, and retire 67 older planes as it scales down in the face of soaring fuel prices. The No. 4 carrier is the latest of the major U.S. airlines to announce large cutbacks as they grapple with unprecedented oil prices, which have doubled in the past year.
OK, lets take a look at this.
Continental mothballs airplanes not to mention putting 3,000 people on the unemployment line. That means they will probably cancel contracts for more airplanes.
That means airplane manufacturers will offload (read fire/sack) several thousand more people who join the Continental employees on the unemployment line. At least they have something in common to talk about.
Now you have thousands of workers who may lose their houses, may become homeless and certainly won't be buying big ticket items like appliances and automobiles. Fuck, they won't even go to McDonalds.
Ah, now there are further workers let go because sales are down.
Now you have Burger King kids being fired/sacked.
They quit buying at the thrift stores and quit driving.
I think you get the goddamn idea.
This is a downward spiral to end all spirals.
Note: Headline links to source.