Lay Offs

Di Deanna · Mar 13, 2009

Yes, this is unfortunate. Someone I know had to lay off 70 civil engineers at their company. Nothing seems to be recession-proof anymore. It's quite scary.

It'sMe, RN, BBA, MBA · Mar 13, 2009

I understand your concern and empathize. However, some of us old folks have seen this all before, some of us several times over. These cycles will always exist. And you have to be prepared for them. The real sorrow is that you can't feel like you can't make long term plans. There use to be a social contract that if you went to school, studied hard and got good grades you would be rewarded with a job and financial security. Not anymore. And that is the way we felt in 1984.

There are lots of RN jobs out there, you just have to go find them. For instance, Florida Hospital Orlando is having a job fair next Tuesday. They are looking to hire a lot of RNs, if they have experience. It may be time to pack up the truck and move to Florida!

I had to do it in the recession of 1995. I am a Georgia boy born and raised. I had to pack up the family and move to MN to get a job. Even though I don't recommend it as a state to retire in that move was a great experience. It created future opportunity for me that has been priceless.

Don't worry, if the government will stop interferring with the economy it will correct itself and jobs will become abundant.

suni, BSN, RN · Mar 13, 2009

I also have been in nursing many years and if I have to move I will, right now I have decided the best thing is to sit tight and hope for the best. The big thing for people like us...(50) is the loss of medical insurance. I have watched my 401 K decline but again have taken the stance that it will eventually turn around. Fortunately, we are debt free except for monthly expenses, just hoping that everyone can hang on, there is such a guilt feeling when you keep your job and your co-worker loses his.

Saifudin · Mar 13, 2009

Predicting the future based on past cycles does not guarantee that things will improve. We expect them to and it is difficult to consider otherwise but, no one really knows.

This recession is different. Never in the history of the US has so much of the economy been owned and supported by foreign money. I heard on the BBC today that the Chinese are now concerned about their assets, chiefly treasury bonds, which they have invested heavily in. Printing dollars and outside investments are two the main sources of money supporting the US today.

Also, the subprime debacle is unique, at least as far back as I can remember. The level of corruption that helped the subprime failure is deep as well and now billions are being thrown into a system that is ready to 'code' but is it a system that is DNR?

One of the primary problems is the system of interest. Americans have little savings and huge debt burdens, with many reliant upon interest. Interest is made alluring to suck you in then it chews you up and spits you out when you can't meet the criminal payback. So, trying to fix the problem with what caused the problem is another problem. Interest is the disease, not the cure.

fiveofpeep · Mar 13, 2009

2 years ago my american history teacher said we all should learn mandarin... I hope it doesnt end up that way

wonderbee, BSN, RN · Mar 13, 2009

Nursing positions are here today, gone tomorrow. My facility is now experiencing direct care staff layoffs, including nurses. We lost a few nurses this past week and twice as many techs. I work for a huge organization. Overtime has been banned.

I'm out there looking too, cold calling and whatever it takes. I'm an experienced nurse with resumes and letters out. Even in house positions for transfer dry up seemingly overnight. It's discouraging.

johnst10 · Mar 13, 2009

I am really feeling all of this. 1984 BSN grad, on med leave and position filled while gone, cold calling, been through it before (but not this bad), set to be debt free in 2 years--until this. I believe that we will turn around in 18-24 months. That will be a LONG term of 2 part time jobs and eating rice and beans!:smackingf

It'sMe, RN, BBA, MBA · Mar 13, 2009

Good comments but you need to take a look at US economic history. This recession is no where as near as the one we had under Carter in the 70s and is not even mildly comparable as the one we had in 1860. Actually, if you check the facts you will find that American savings has been up over the past 20 years compared with the late 70s and 80s. More cash is available today to the US Govt than anytime in history. However, the govt is not the one that needs the cash. It is our banking system that needs the cash and they are the ones that can't get it. Would you loan them any money?

The Chinese did their on national bailout last year. The spent 7% of their gross national product. That is a huge number, it pales in what we have thrown at our problem. Rich Dad predicts that in the year 2016 the Chinese will surpass us and become the financial power house of the world. It is a very plausibe position.

What this country needs to do is figure out how to get cash back into the lending institutions and get them lending. Who do they need to lend to? People that will buy houses, cars, boats, TVs and other goods and services. This is done by creating jobs. How do you create jobs? By creating the incentive for folks to create business. And that is done with tax incentives. Supply side economics. What we have now is demand side economics. The last president to do this extended the recession into a depression and made it last 10 years. If you notice, every time Obama talks about his plan to solve the economy (demand side economics) the stock market plummets. If he stays mute, the market rises. The market needs to shake out the remmants of the government boondoggle that started with Clinton's mandate that everyone should have a house regardless of ability to pay and get on with the business of business. And the government needs to stop interfering.

Learning Chinese is not a bad idea. Just like in the 80s when the Japanese came into the market and bought 10% of the commercial real estate the Chinese are poised to come over and start buying business. It is called vertical integration and is taught in Econ 101.

"Hold your friends close, but hold your enemies closer." Tsu:bow:

wonderbee, BSN, RN · Mar 13, 2009

I'm no economist and don't lay any claims to having an enlightened understanding, but isn't this more of a confidence issue? I'd like to hear a good message of hope like FDR's ..."the only thing we have to fear is fear itself." He kind of made that one hard to top.

Misty1 · Mar 13, 2009

It isn't as bad as the 70's went right into the early 80's. We are on our way though its coming.

SummerGarden, BSN, MSN, RN · Mar 14, 2009

what this country needs to do is figure out how to get cash back into the lending institutions and get them lending. who do they need to lend to? people that will buy houses, cars, boats, tvs and other goods and services. this is done by creating jobs.

ah... yes... more consumer debt..!! no need to save kiddos... take on more debt for things you do not need! it is you, the shrinking middle class, that is preventing the economy from doing better because you are not taking on more consumer debt.

how do you create jobs? by creating the incentive for folks to create business. and that is done with tax incentives.

oh, what a unique concept that has failed before.. the trickle down theory! :up:

is it just me or am i the only one whom is happy that it is impossible to go back in time relive the 80s? yes, give money to the rich corporate owners... the rich will not send jobs over seas or give themselves lavish bonuses while laying off workers..... no, instead they will make jobs here in the us, provide americans with wages that meet the cost of living or better, give their workers bonuses as incentives instead of themselves, and build the middle class up to make our country and economy strong! we all know how much they love to put their country first.

if you notice, every time obama talks about his plan to solve the economy (demand side economics) the stock market plummets.

actually it went up the last time he gave a speech... to be honest, the stock market will rise and fall for quite some time... it has nothing to do with the president's speeches. i know... i know... fox noise and rush say otherwise.