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Job Cuts Top 100,000 in January - Report
Reuters ^ | Tuesday February 3, 2004

Posted on 02/03/2004 12:28:18 PM PST by Walkin Man

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To: Dr. Frank
Overlooking the fact that someone with a mortgage and 3 kids isn't going to survive "McDonald's or Walmart or the local frozen yogurt shop".

I didn't "overlook" that fact. Of course a person in the position you describe wouldn't survive that, without (for example) giving up their mortgage and moving into a cheaper place, i.e. apartment.

What you're saying is that this is a less appealing option than simply collecting unemployment. That's true. And, it's great. Because it means that we have a system where even when people get laid off etc., they can typically afford not to look for jobs at Walmart fro yo etc. for a long time, and still stay in the same homes. Isn't that great?

I'm still trying to figure out how all this adds up to "we must blame Bush"

Yes....last point first. I said nothing about Bush.

As for unemployment...I got laid off, collected for a while, and then found work as an independent contractor. In Illinois, after paying into the unemployment program for almost two decades, the rate I got (family, kids)...didn't even cover my mortgage payment. Forget other expenses. Fortunately I was frugal for many years and had capital to live on. Many people do not.

The issue here is not "can people survive". It is deeper than that. Far deeper. For example:

1st, our military depends upon taxes. Like or not, so do those other government programs. Someone who used to make 75K paid taxes. If they work at McDonalds - they don't. (Other than social security). They fall into the bottom tax bracket - which, with dependents, means they actually pay no federal income tax. At all. If this happens to enough people -- we see spending not being supported by taxes. A ballooning deficit. Followed by the depreciation of the dollar. Etc. Of course...the solution is to cut expenditures, by Congress. Which will happen when pigs fly.

2nd, this will gradually lead to falling housing prices (as more people suffer downsizing to their incomes, they won't pay those large dollars for houses. Hasn't happened yet. But it is inevitable). Many of those same people, suffering a smaller income, will have to sell their houses. But since most of them have little equity, and many will have negative equity, personal bankruptcies will rise. That is already happening. Guess what the biggest class of people who go bankrupt are? Turns out...families with kids.

3rd, this situation will not improve quickly. Interesting interview recently with the CEO of Intel. He made two important points. He said (a) people in the US now need to compete with 3 Billion educated people who have high speed telecommunications access. This will continue to suppress salaries in the US. And (b), the level of R&D investment is insuffient. For example, total R&D by the government of the life sciences is about 5 billion -- but the agricultural subsidies by the government is 35 to 40 billion. A serious problem.

281 posted on 02/05/2004 5:32:33 PM PST by dark_lord (The Statue of Liberty now holds a baseball bat and she's yelling 'You want a piece of me?')
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To: dark_lord
I'm puzzled. Your purpose seems to be to argue that it's bad when people are losing their jobs.

Who, exactly, do you think was saying otherwise?

I was mostly responding to the people who seem to blame the current situation on President Bush, or shall I say "the Economy/Job-Creation Czar". I am heartened to see that you are not one of them and apologize for my misunderstanding. Best,

282 posted on 02/05/2004 6:14:31 PM PST by Dr. Frank fan
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To: M. Thatcher
"In an attempt to justify your own failures and bitterness, the only case you have made is for your own misery. Congratulations, you have convinced yourself. I, on the other hand, am happy and successful, in the greatest country on the face of the earth.
Loser."

Thank you for your informative and erudite response. I look forward to more of your wonderful insight.

Just tell me though how am I miserable, having a beatiful wife, doing a job I like, taking vacations all over the world, plenty of money in the bank...and in good health. Where do I display any bitterness or misery?
You're the one who is the angry divorced woman who relies on getting money from your ex-husband.
Here's some more of a random sampling of your intellectual wisdom:

Posted by M. Thatcher to jpsb 02/04/2004
"You are on crack."
"You, personally, are a loser.:

RE: Rush Limbaugh
M. Thatcher to blackie
"I have ignored the little vermin since October. I will ignore them again. But today, I'll defend this worthy man who means so much to me."

LOL Rush Limbaugh means so much to you?!! Wow you need some friends.
283 posted on 02/08/2004 5:11:07 PM PST by optik_b (follow the money)
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To: optik_b
You're the one who is the angry divorced woman who relies on getting money from your ex-husband.

Actually, I don't. If I did, my kids would starve.

I am a happy, successful woman who relies on NO ONE but myself. My posts are optimistic about this country and my place in it. Your view of this grand nation is one steeped in total negativity. I won't go there with you, I have no time for losers.

284 posted on 02/08/2004 5:23:27 PM PST by M. Thatcher
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To: M. Thatcher
"Actually, I don't. If I did, my kids would starve. "

Wow you really knew how to pick a winner. Well in the new world order - no more sponging off men - either 1. Go out and work or 2. Go out and work on you back...

You had better bring up her children to work hard....they have to pay off all that debt....oh yes, and don't forget, they have to support everybody else, especially have that high medicine bills...

"My posts are optimistic about this country and my place in it. "

I don't consider your angry flame war posting style to be inspiring or optimistic.
285 posted on 02/08/2004 5:40:35 PM PST by optik_b (follow the money)
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To: optik_b
"Actually, I don't. If I did, my kids would starve. " Wow you really knew how to pick a winner. Well in the new world order - no more sponging off men - either 1. Go out and work or 2. Go out and work on you back... You had better bring up her children to work hard....they have to pay off all that debt....oh yes, and don't forget, they have to support everybody else, especially have that high medicine bills... "My posts are optimistic about this country and my place in it. " I don't consider your angry flame war posting style to be inspiring or optimistic.

You are, clearly, not literate.

286 posted on 02/08/2004 6:21:55 PM PST by M. Thatcher
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