If USA enters second recession is YOUR job safe ?

[Turk]

Originally Posted By: JustinH
I'm 4 years out of college, and very underemployed. There isn't much in Buffalo, and I look all the time. I'm just glad to have a job with benefits that is pretty secure, but I am looking to some of the southern states especially Texas for a job in my field.

My fiance is getting her masters degree here, so we are stuck in Western New York at least another two years.

We're just getting by and are saddling very large student debt payments.


I used to fly out there to W.G. to do some process improvements. Good luck out there!!

 

[kb01]

Originally Posted By: LT4 Vette
I saw this thread on City-Data.com so I thought I would ask it here.

If we hit another recession in the next year or so, do you think your job is safe ?
If so, what makes you think so ?



My job is heavily dependent on the energy industry and I fill a niche role at my company, so I think my job is reasonably safe.

But unfortunately, as our clients cut their expenses, we'll have to do the same to stay competitive and not be low-balled for every RFP.

My job is reasonably safe. My health insurance and 401k matching, not so much.

 

[kb01]

Originally Posted By: jcwit


And I never touched on inflation. Don't have inflation? Try checking the meat and cereal shelves at your local grocery. But then growing corn to fuel our vehicles makes for good sense.


I know the feeling!

Yes, according to the government, inflation is non-existent. In the real world, all utilities are up over 10%, health insurance is close to 20%, and food is between 10 - 20%. It also looks like Congress is not going to renew the 2% reduction in payroll taxes. And just this year, they made it so we can't use our HSA funds to buy things like OTC drugs.

This will be yet another year where paychecks on Jan 15 are smaller than Dec 31st.

 

[CivicFan]

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.


I work in health care research. Given the anti-intellectual bias in the current Congress, I laugh at the idea of job security as well. I hope it's a cyclical process and we will be able to ride this one out, too. But we are already seeing the effects of the spending cuts on us.

 

[javacontour]

As safe as one can be I suppose. Had my review today, great review, so as long as the boss can afford to keep me, I figure I'll be around.

Second highest number of Exceptional Service Awards in the area, so if my employer doesn't like me, I have a lot of customers who do. In fact, I have customer who "request" me for their service calls. That can't hurt.

I just keep learning new things and am the go-to guy when my boss or a customer needs support.

 

[daves87rs]

Originally Posted By: javacontour
As safe as one can be I suppose. Had my review today, great review, so as long as the boss can afford to keep me, I figure I'll be around.

Second highest number of Exceptional Service Awards in the area, so if my employer doesn't like me, I have a lot of customers who do. In fact, I have customer who "request" me for their service calls. That can't hurt.

I just keep learning new things and am the go-to guy when my boss or a customer needs support.




Best way to be, I think.

 

[andrewg]

Originally Posted By: JustinH
I'm 4 years out of college, and very underemployed. There isn't much in Buffalo, and I look all the time. I'm just glad to have a job with benefits that is pretty secure, but I am looking to some of the southern states especially Texas for a job in my field.

My fiance is getting her masters degree here, so we are stuck in Western New York at least another two years.

We're just getting by and are saddling very large student debt payments.

My father lives out there and I've been there many times. It truly is an economically depressed place. It was depressed EVEN WHEN things were better a few years ago. Buffalo has not seen better times since the 1950's. Sad really. You are extremely fortunate to have a reasonably secure job there.

 

[andrewg]

I work in aerospace. Spare parts to be exact. We sell airliner parts all over the world. Business has actually been pretty good. Am I secure if things get worse? I really don't know. I could sustain a minor dip from where we are now (can we go much lower?) but a major one? I hope so.

Anyway, I'm doing my part to get things going. I'm in the process of buying a house. Interest rates are very low, prices are equally low. I am thinking we are either at the bottom of the housing slump or at least will be soon. I can't think of a time in my life where interest rates AND home prices have been so enticing.

 

[Tempest]

Government interest payments will be ~ $1 TRILLION a year in just a decade. Those are government numbers.

The US government will be funding the ENTIRE Chinese military in about half that time.

Social security and Medicare, alone, have made financial promises equal to DOUBLE all of the existing money in the entire world.

Anyone that thinks economic prosperity will come from that is sorely mistaken. The US government has spent the WORLD into economic ruin.

And people actually wonder why companies are holding onto $2.6 trillion?

The only possible out is to slash spending, taxes and regulation so as to get people to invest and create real, self sustaining jobs. Public make work (non existent shovel ready) jobs paid for with printed and borrowed dollars don't work, and actually make an economy worse.

Eliminating the corporate tax for 10 years would generate a prosperity that has never been seen.

My job is already uneasy, another serious down turn would probably be the end of it.

 

[CivicFan]

Originally Posted By: Tempest
Government interest payments will be ~ $1 TRILLION a year in just a decade. Those are government numbers.

The US government will be funding the ENTIRE Chinese military in about half that time.

Social security and Medicare, alone, have made financial promises equal to DOUBLE all of the existing money in the entire world.

Anyone that thinks economic prosperity will come from that is sorely mistaken. The US government has spent the WORLD into economic ruin.

And people actually wonder why companies are holding onto $2.6 trillion?

The only possible out is to slash spending, taxes and regulation so as to get people to invest and create real, self sustaining jobs. Public make work (non existent shovel ready) jobs paid for with printed and borrowed dollars don't work, and actually make an economy worse.

Eliminating the corporate tax for 10 years would generate a prosperity that has never been seen.

My job is already uneasy, another serious down turn would probably be the end of it.


You are mixing up two things - recession and the debt. These two are distinctly different problems and should not be mixed together.

You can't really be serious about slashing of government services. Do you imagine the unemployment that will result from these mass layoffs?

 

[Tempest]

Quote:
These two are distinctly different problems and should not be mixed together.

Then can you please explain to me why companies are holding on to so much money? They WANT to spend it but they see the MASSIVE amounts of taxes and regulation headed their way so the money is being horded. They have no way to make investment plans as the government is injecting far too much uncertainty into the market via it's actions. Remove the distortion, create a profitable environment, the private sector money will be spent (including foreign investment), and jobs will return.

They are one in the same, not different as you say. The government is preventing a recovery, just as it did in the Great Depression.

Quote:
Do you imagine the unemployment that will result from these mass layoffs?

Yes, the fewer government workers there are leaching money from the productive people in country, the better. Or are you saying that it doesn't matter what you spend money on?

The government is only creating an even bigger money bubble that burst far worse than in 2008. The sooner it stops, the better off we all are.

 

[urchin]

I think it is kind of amusing and sad that there are quite a few members here that think they are "secure" in their employment.

I bet NONE of you actually are in reality. EVERYONE IS EXPENDABLE in today's new world order economy, except the money changers.

 

[PandaBear]

Originally Posted By: Tempest
Government interest payments will be ~ $1 TRILLION a year in just a decade. Those are government numbers.

The US government will be funding the ENTIRE Chinese military in about half that time.

Social security and Medicare, alone, have made financial promises equal to DOUBLE all of the existing money in the entire world.

Anyone that thinks economic prosperity will come from that is sorely mistaken. The US government has spent the WORLD into economic ruin.

And people actually wonder why companies are holding onto $2.6 trillion?

The only possible out is to slash spending, taxes and regulation so as to get people to invest and create real, self sustaining jobs. Public make work (non existent shovel ready) jobs paid for with printed and borrowed dollars don't work, and actually make an economy worse.

Eliminating the corporate tax for 10 years would generate a prosperity that has never been seen.

My job is already uneasy, another serious down turn would probably be the end of it.


You are contradicting yourself when you promote eliminating tax and reduce debt, and no, eliminating debt for 10 years will not generate prosperity either.

The reason corps are holding cash is they are anticipating credit crunch, reduced demand, and they are toughing it out. Are you not spending your own salary because you are taxed too much? Nope, you are doing it because you are anticipating massive downfall in income or predicting unemployment and saving rainy day fund.

The corp is the same, they are saving rainy day fund to ride out the possibility that bank may collapse and refuse to lend.

The only way out of this is if USD/Euro are devalued to a point where China and Japan stop trying to match, and their labor becomes high enough that jobs come back.

Borrowing money for more tax cut won't do it, printing more money, well, that may work.

 

[Al]

Originally Posted By: Tempest


Social security and Medicare, alone, have made financial promises equal to DOUBLE all of the existing money in the entire world.

This statement says it all and is the grim reaper for us.

 

[Tempest]

Quote:
printing more money, well, that may work.

Can you please show a historical reference where this worked? Massive government spending and printing of money in the last few years. Is it working? Yet you still advocate that course?

Quote:
eliminating debt for 10 years will not generate prosperity either.

Never said that. I said eliminate corporate taxes as this reduces costs and increase profitability.

The record $2.6 trillion in holdings isn't making them any money. They want to invest it so they can make more money. That is why people create businesses. They don't hire people just for the heck of it unlike what some people believe.

 

[SmokeEater2]

No. I don't think my job security is any safer than any other occupation right now.

And I'm not feeling very warm and fuzzy about about my military retirement either. I think anything and everything stands a chance of being chopped.

 

[urchin]

You know years ago a lot of "businesses" were created to make a good profit....AND the owners often times also liked to benefit the general community as well, it was "good for business" of course but also "good for the soul" too.

Now what do we have....the ONLY thing that matters is the last red freaking cent. Wow how pathetic is that? Humanity looks doomed more and more.

The worst thing that ever happened to "business" has been the MBA class. They have destroyed "balance" in commerce and business.

 

[PandaBear]

Originally Posted By: Tempest
Can you please show a historical reference where this worked? Massive government spending and printing of money in the last few years. Is it working? Yet you still advocate that course?


I'm not saying massive government spending, I'm saying reducing the value of USD (hence printing money) by manipulating the interest rate and hide it in the hands of the central bank of the sovereign nation.

It will lead to inflation, and that's the exact reason we will reduce the future cost of labor, and that's the ONLY WAY other than having China increase their currency to move jobs back to the US. It inflate away the bad debt, it inflate away the savings and it inflate away the obligation of future contract price. Everyone who owns cash equivalent assets (cash savings, bonds, etc) all get reset to fair market price.

In case you didn't know, we have printed money since 2001 and we have not stopped since then. Precious metal price is the indicator of what happened world wide as a result. Why else do you think we balk at China and why do you think Japan balk at us? Why are all the savings in Japan moved oversea and Yen got a sudden surge in natural disaster? Because that's what Japanese use to devalue their own labor cost and it kept their jobs with massive export, now they are suffering because USD devalued so much and they have to devalue their own currency.

What else would happen when you devalue USD? Japan, China, and the entire Latin America pays for our loss with their own national reserves. Instead of hoarding gold, they hoard USD and US debt in their own central bank, partly to devalue their own currency to match USD for export advantage, and partly to not drive up gold.

Originally Posted By: Tempest

Never said that. I said eliminate corporate taxes as this reduces costs and increase profitability.

The record $2.6 trillion in holdings isn't making them any money. They want to invest it so they can make more money. That is why people create businesses. They don't hire people just for the heck of it unlike what some people believe.



Risk (Insurance)
a. the hazard or chance of loss.
b. the degree of probability of such loss.
c. the amount that the insurance company may lose.


They don't invest it because they might lose money, because they think people don't have money to be made from, and because they don't believe the government can stimulate the economy enough to increase demand.

Look at what happen when we grant loan to the banks last time? They just hoard it instead of lending it out because it is too risky. What would happen when you eliminate tax for 10 years? The corporates will hoard it and the government will run up another 10 years of debt.

If you reduce spending and use the savings to pay back loan, and keep tax the same or increase tax, that I can agree with. For the same spending (let's assume the same spending for mathematical calculation because spending and tax are fairly independent if you can borrow money), if you do that you will just run up an ever bigger debt than we have.

 

[Tempest]

Quote:
nd that's the ONLY WAY other than having China increase their currency to move jobs back to the US.

Most of the manufacturing jobs (4 out of 5) that have been lost are due to productivity increases. China is ADDING to the global market, not taking away. I have posted hard evidence of this before.

The dollar is the standard monetary unit for the world. If we devalue our currency, all other currency will devalue. This global devaluation is driving prices ever higher and is causing havoc around the globe, especially food prices. People all over the world are suffering because our government can't spend within it's means. What do you think those people think of us?

The banks would love to lend money but they are in the same boat. Massive new legislation that has injected much uncertainty into their industry as well. This has hampered private sector lending which is stifling the economy.

And a LARGE portion of the printing lately has gone to foreign banks to stimulate them, not the US economy.

 

[buster]

Tempest, you have to stop with the blame government for everything dogma. You're dead wrong, sorry bud. WWII was a great example of the size stimulus that was needed to pull us out of the Great Depression.

Companies are not hiring because demand and uncertainty. Show me one example of a free market country. There are none. You continue to make things up and just don't get it. We've been down this path before, get over it.