Lay Offs

[suni]

Our facility was hit this week with lay offs. Since we are a small hospital and most of the industry in our area has closed this has been difficult for those who lost their jobs and those who kept their jobs. For those people who have been saying that health care is recession proof, wake up. Hospitals across the country are down sizing and closing, I fortunately still have my job but I am not sure for how long. I pray for all of us in this country that things improve but I think it will take at least 18-24 months till we see any major change.

[Saifudin]

It's interesting. I don't remember a thing about the recession of the 80's. I had a solid job, no debt, and still have no debt...I mean zero debt. Interest is unlawful in Islam and since becoming a Muslim some 25 years or so ago, I have not borrowed money.

I appreciate the explanation from BBA, MBA. Frankly, even with a father who spent his life in finance, I never really took much interest in it. But, what I do believe is much different now and perhaps BBA. MBA can shed more light on this is that Americans are deeper in interest debt with little to no savings than over before and I also believe that every system has a breaking point, a point that it cannot go back to what it was. In this case, things should not go back to what they were; people digging themselves into deep pits, unable to extract themselves, and for what? To satisfy desires? Is it worth it?