If USA enters second recession is YOUR job safe ?

[urchin]

Bottom line we are in a never ending recession increasing into a depression BECAUSE MOST ALL THE GOOD PAYING JOBS ARE GONE!

The work has been outsourced to the dictatorship of CHINA and other slave wage nations.

If you want to revive our US economy we need to bring manufacturing back to the US in a HUGE way ASAP and deport all illegal aliens. If things continue the way they are the US will be a third world nation in less than 50 years.

 

[PandaBear]

Originally Posted By: friendly_jacek
Originally Posted By: hattaresguy
Were not entering another recession, based on what? Irrational silly fear? Unlike in 2008 companies are loaded down with cash, this is nothing like 2008.


The markets are going through a bit of turmoil, it will end in a couple of weeks. Its based on irrational nothingness, so like most irrational nothingness it will get old and go away after awhile.

Now is a really good time to pump every cent you can into the market, stocks are on sale. Hedge fund guys are loving this come end of the year bonus time they will get a nice check because of all this. I think Mercedes, BMW, and Porsche dealers in my area are going to do a banner business come November.


The markets tumbled because economy stopped growing and started contracting and not because "irrational silly fear."

While there could be rebound coming soon, long term picture is not rosy. Certainly the structural problems in economy (high commodity prices, unhealthy banking, consumers cutting on spending) are as present now as they were present in 2008.

The 2009-2010 "recovery" (limited to Wall Str BTW) was an illusion produced by coordinated central banks and governments interventions unmatched in history. Now that ammunition is spent (more government deficit anyone?), we will see if it really worked.


Very true, we have a world wide problem today:

1) US debt and unemployment
2) Euro soverign debt and valuation difference between members.
3) Soverign currencies manipulation (Yen, Yuan, HKD, Won, are all hedged on USD and are all artificially lowered)

The coordinated effort is starting to reach its limit, and we are starting to see the cracks in the foundations of the problems based on the valuation of debt. One will snowball into the others and we don't know the net effect of the end result, and neither do the bankers and fund managers, therefore the roller coaster rides.

 

[tommygunn]

Originally Posted By: buster
I didn't know the first recession was over???
I'm with you on that one dude! LOL.....news to me.

 

[Rick in PA]

Lots of good comments on this thread.

Originally Posted By: d00df00d
I'm in school to become a science teacher. Given our country's historical attitude toward education and its recent attitude toward science, I laugh at the idea of job security.


Sad, but true. Our lifestyle stands on the shoulders of science, yet we often ignore or disparage it. It makes me grind my teeth.

Is my job safe? I wish I could say yes, but you never know. For me, historically, yes, our company has a broad base of customers. However, it's a changing environment, with the outsourcing of jobs, I'm not sure what the impact will be... You have to remain flexible and adaptable. That philosophy has served me well personally. I've seen many who wouldn't change fall by the wayside. This is even a law of nature.

 

[demarpaint]

My business is hurting now, and it will only get worse. As far as I can tell the recession never ended, its just getting worse.

 

[fdcg27]

Originally Posted By: hattaresguy
Were not entering another recession, based on what? Irrational silly fear? Unlike in 2008 companies are loaded down with cash, this is nothing like 2008.


The markets are going through a bit of turmoil, it will end in a couple of weeks. Its based on irrational nothingness, so like most irrational nothingness it will get old and go away after awhile.

Now is a really good time to pump every cent you can into the market, stocks are on sale. Hedge fund guys are loving this come end of the year bonus time they will get a nice check because of all this. I think Mercedes, BMW, and Porsche dealers in my area are going to do a banner business come November.


Companies are loaded down with cash as a result of a couple of years of strong earnings combined with limited hiring and investment.
This was facilitated by large reductions in head count, restructuring of existing debt and renegotiation of labor agreements to yield lower personnel costs.
Look at how low yields are on ten year Treasuries, since cash is abudant while hiring and capital investments are not.
Some banks are even beginning to charge corporate customers for holding cash deposits, the same negative interest rates we have seen in stagnant Japan.
It may be that we are not entering a second recession.
We may be in for a long period of stagnation and very low growth, however.
As to my job, just as I was pleased at having made it through the fire unscathed, I now wonder when the fire will actually end.

 

[SteveSRT8]

Originally Posted By: demarpaint
My business is hurting now, and it will only get worse. As far as I can tell the recession never ended, its just getting worse.


We have downsized significantly and are prepared to go further if needed. Not my first time going through this, and we'll survive no matter what!

But where's my "summer of recovery"???

 

[demarpaint]

Originally Posted By: SteveSRT8
Originally Posted By: demarpaint
My business is hurting now, and it will only get worse. As far as I can tell the recession never ended, its just getting worse.


We have downsized significantly and are prepared to go further if needed. Not my first time going through this, and we'll survive no matter what!

But where's my "summer of recovery"???


I hear you. I've been down this road before too. I manage, its just depressing, annoying, and burns up some savings.

 

[SteveSRT8]

We've been lucky, hasn't really cost us much except the 'gravy' part of our income. We are still paying all our employees and the bills. But it just isn't improving despite a huge ramp up in advertising, etc.

This economy just plain sucks, and I am tired of waiting for improvements. I hope the rest of the country is tired enough to get off their butts and VOTE!

 

[Pop_Rivit]

I don't look at it as "a job" per se, I look at it as a household income.

After I retired the first time I started doing consulting work and I don't see the biggest project ending for at least another year. I'm not sure if I'll continue with consulting after that point.

In the 1990's I was partnered with a group of friends and we invested startup capital in a couple of local businesses. After we dissolved our venture capital group (which did quite well) I reinvested in the winery that we helped start, and became a minority partner at about 45%. Sales and profits have increased at least 10% each year, and it's providing a healthy income. While I don't consider it recession "proof", so far it's been recession "resistant".

My wife is considering retiring in a year or two, and will probably go of counsel, so she'll still be earning an income in addition to being vested in the firm. Like me, she enjoys earning money and I don't ever see her completely walking away and spending her days playing bridge with a bunch of old biddies.

The real key to surviving down times (and this isn't the first, won't be the last, and isn't the worst I've seen) is to diversify your income. Make sure you have income from a wide variety of sources, so if one goes flat you still have others on which to rely. Even if more than one of our income streams go flat, we're still quite comfortable on the others.

 

[buster]

"With 78 million baby boomers heading into retirement, we have made no provision to pay their full annual Social Security, Medicare and Medicaid benefits, which will average $40,000 in today’s dollars. We are spending more than the next 13 countries combined on defense. The U.S. is running enormous budget deficits, and our tax system is collecting the least revenue per dollar of output since World War II." - L.K.

 

[d00df00d]

Originally Posted By: SteveSRT8
This economy just plain sucks, and I am tired of waiting for improvements. I hope the rest of the country is tired enough to get off their butts and VOTE!

You seem to be implying that the whole situation only took a short time to unfold and should only have taken a short amount of time to resolve. This isn't the first time I've heard that implication, but I've never heard it explained. If you have some time to elaborate, I'd like to hear it.

 

[buster]

Originally Posted By: d00df00d
Originally Posted By: SteveSRT8
This economy just plain sucks, and I am tired of waiting for improvements. I hope the rest of the country is tired enough to get off their butts and VOTE!

You seem to be implying that the whole situation only took a short time to unfold and should only have taken a short amount of time to resolve. This isn't the first time I've heard that implication, but I've never heard it explained. If you have some time to elaborate, I'd like to hear it.


Financial crises like this occur every 80-100 years and are nothing new. They are also usually followed by prolonged unemployment.

I like this guy's perspective a lot:

 

[rg200amp]

My job is fairly secure. If the government just stops, then i'd be out of work, but short of that, Im good.

As we say in my field. (not to be taken as rude or cruel)

"The crazy are not going to get less crazy"

I am in the behavior health field.

But, should the government should just stop, that means, I, along with police and fire fighters are going to be cut aswell. So, being out of a job is going to be the least of my problems living in a major city.

 

[GROUCHO MARX]

I don't believe our GDP has passed what our GDP was in 2007.

If this is so, how are we out of recession. The cancer just hasn't spread as quickly.

In any case, I don't think things are significantly better for the vast majority of Americans than they were at the end of 2008 and I blame the policies of the past 45 years.

Professors in my MBA program 30 years ago saw this coming. They couldn't have predicted the technology bubbles and inovations or the wars, but they saw the rotting of the structure.

 

[Mr Nice]

Originally Posted By: tommygunn
Originally Posted By: buster
I didn't know the first recession was over???

I'm with you on that one dude! LOL.....news to me.

I simply copied and pasted the question from City Data and I agree 100% that the first recession never ended.

Here in FL the unemployment rate is at 15% and its growing every week.

 

[Silver_civic]

I would have to say my job is pretty safe, unless the rental industry really hits the skids. People I would think always need to rent a moving vehicle or vehicle in general, and you always need someone to fix them if they break down. Yeah, this economy really bites the big one in my eyes. Glad I have a bunch saved up and amd good at budgeting my money.


Adam

 

[jcwit]

I'm not sure if the recession ended or we are headed into another dip, or another recession. With that said every county here in Northern Indiana the unemployment picture has gone up expect one. In the county I live in and the 3 adjacent counties unemployment has again gone over 10%. Not a good sign, not good at all.

I'm retired so am fairly safe.

 

[Drew99GT]

Originally Posted By: urchin
Bottom line we are in a never ending recession increasing into a depression BECAUSE MOST ALL THE GOOD PAYING JOBS ARE GONE!

The work has been outsourced to the dictatorship of CHINA and other slave wage nations.

If you want to revive our US economy we need to bring manufacturing back to the US in a HUGE way ASAP and deport all illegal aliens. If things continue the way they are the US will be a third world nation in less than 50 years.


Please run for president; I'd vote for you! I agree 100%.

We're already at a real unemployment rate of about 20% in the US going into this recession or continuing in the recession that supposedly ended (which ever way you want to look at it). The layoffs have already happened, so I think a huge increase in unemployment and layoffs like occurred in 08 and 09 aren't as likely.

We've entered the new status quo of globalization. We were brought down a notch and the developing world was bumped up a notch. I can't WAIT until equalization occurs amongst all workers worldwide. That should be fun. Well, the heads of multi-national corps and banks sure will be laughing...all the way to the bank.

 

[ethangsmith]

My job seems secure at this time. I sell parts at a dealership and our sales are doing great. Since people are holding on to their cars longer, they want them to run well, which means bigger sales for us!