For executives temporarily living the good life on severance pay, the future looks grim. Many top earners, especially in the financial sector, lost jobs that will never return. Credit-swap specialist, anyone? So what are former $200,000-a-year bank executives and erstwhile marketing honchos doing these days to get back in the ol’ rat race? Mostly, they are hoping the economy will revive, but not setting their sights too high, according to an article in yesterday’s edition of the Wall Street Journal. Many executives who are currently unemployed evidently went into the downturn without having foreseen its severity. Rather than cut back on amenities, they continued to spend on frills, maintaining the lifestyles they’d enjoyed before they lost their jobs.
It’s likely that few of them had imagined the recession would be as severe as it has been, or that it would last for years rather than months. Even those who made relatively cautious assumptions about the economy figured they would be back on the job within six months. Instead, with severance funds depleted, there are no jobs in sight – at least, not at salaries comparable to what they were making before. To make ends meet, they are downsizing their living quarters or moving in with the folks and eliminating trips to Starbucks.
Reams of Resumes
They have also been sending out resumes by the ream, apparently to little avail. Amidst record long-term joblessness, according to the Journal, more than a third of those out of work have been looking for more than six months. This is the worst statistic this category has produced since the government began tracking it in 1948.
It is predictable that a similar story will soon be told concerning the retail sector. How long can store owners hang on before they throw in the towel? The answer is about 18 months, according to a highly successful building contractor we know whose family has worked with area businesses for more than 70 years. This man sold his firm last year but still keeps in touch with the retail community. He says many store owners who have been living off reserves are ready to pack it in. “If your business is very successful, you can probably weather severe times for about 18 months,” said our friend. “But that’s about it.” The most difficult aspect of these hard times for firms that are surviving is that none of their owners can see how, or when, the economy will emerge from its depths. “It makes it tough to hang on if you can’t see light at the end of the tunnel.”
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Maybe I mentioned it here…before…..DO NOT BELIEVE STUPID NEWS!!!!
I really should keep my mouth shut…for the NSA may get me. But I have good ANGELS protecting me.. and so I stand up for the little guy…average america…NOT Satan that really is all over the place. Yes, all of you don’t get it.
In 2010 all will crash except the US dollar!! “It is written and so shall it be done.”
The government stats are all lies. Unemployment is close to 18% and will reach 25% by 2011 early..but the news will state only 10%. HOW American people have let their governments LIE to them ( Republican and Democrats….they just playing you “fools”out) since Kennedy is a shame. The last President for the little guy…Yes Kennedy was SHOT by your own Government and they killed of the youngens in the family…like the chap and his fiancee who died in the plance crash a few years ago. Handsome fellow, would and could have been the President….but who wants a President for the American people….NO WAY!!! Too many Stupid people believing the gov’t …like reading STUPID NEWS and trading or investing.
So in 2010 come November 2010..the US dollar will be at 85 cents and more likely up to 92-95 cents range. Gold should have dropped to $777-640 ( Big range) and “the Boys’ do it again.
Look who is controlling and running the US Government and you will get your answer on why most American people are broke. You had more money, job security and relationships with your kids back in the 40’s/50’s and 60’s. What happened…what changed. ANSWER THIS QUESTION…and it will tell YOU ALL!!
Globilization has made pawns and fools of America. The “SCAM” 9/11 was not done by those nomads in the mountains…it was done by who controls America.
Why would a democratic US government ever want to trade and boost an economy of a COMMUNIST COUNTRY LIKE CHINA!!! WHY???
It’s a pity ALL Americans are asleep at the wheel….you are being PLAYED OUT so BAD….you don’t get it.
Ron Paul was the guy who should have been President!!! But he may get shot. Since Reagan and probably after Kennedy…all you have has been “Satan” for Presidents.
The “boyz” will be buying full swing when all has crashed by Nov 2010. There will be no Depression…..not now, it will come much, much later. The year….that info is not free…..talk to your angels….they are their to protect you….NOT YOUR GOVERNMENT.
Invest in YM, ES, NQ, TF, Gold, silver, CAD, AUD, corn, coffee…all after 2010. The CAD, AUD, Yen, GBP, Euro will all make highs in 2012 as the US dollar ( index) reaches a low of 41 cents in 2012!!! Then US index ( dollar ) will rally and test the low area 3 times till 2014.
“It is written so shall it be done.”
Read Daniel and trading will come to you…and remember Jesus was a rebel. What and who are YOU!! A puppet and pawn of the government?? Getting the picture. You don’t have to be religious to get it..after all, the religions on earth are all apostate.
Good luck and make a lot of money. Money is not evil…the “ROOT” IS…….and it is all over starting with your government.
Uncle Remus