Spinning down the drain

Whirlpool to lay off 5,000 employees as demand for items to fill new housing bought by speculative flippers who claim to be investors that were HELOC out of current home and/or otherwise unable to service their contractual obligation comes crashing down hard.

More big ticket items expected to undergo weakened demand. Additionally, these employees will likely have a difficult keeping up with the Jones on mindless mad dashes to spend money on stuff they don't need and only marginally want. This is a cycle my friends. Less capability to buy equates with lowered demand on products equals less workers needed to produce or coordinate the product and on and on. Obviously, housing goods are to be under intense scrutiny in the wake of the largest bubble to roam the land courtesy of the credit bubble.

Whirlpool is headquartered in Benton Harbor, MI.