I’m only suggesting this because perhaps we need a shakeout. It seems thats how our system is suppose to work.
Probably, except for all the states that can not afford to pay for all the unemployment benefits currently being doled out.
Operating leaner and more efficiently after coming out of a recession is usually quoted as one of the benefits. Then firms are more profitable, stock rises, they hire and spend again, then the cycle repeats.
im looking forward to the cycle up
“As long as it doesn’t happen to me…”
I think we’re all looking for the cycle up, but it is a really painful way down. Most of my friends are still employed, but it’s been a tense situation for a lot of them. Plus, I think a lot of us that work in finance and that still have jobs are somewhat sheltered from things. I don’t mean that as a flippant comment or anything because obviously Wall Street as a whole is feeling the hurt, but the people that never had much money to begin with (think blue collar jobs) are hurting even worse and it’s sad to hear about that stuff when I go to the grocery stores, retail businesses, hair cut, and so forth. Lately I’ve been tipping close to 25% for services that I like, because I know how much the service industry is hurting. Hopefully I won’t come to feel the pain of my own generosity at a later time.