Recession for the New Generation (2010, home, unemployment)

[Katlakat]

Hi guys!
I hope everyone is healthy and well in your world these days. I wondered if any of you who weathered storms of recessions past could give those a little bit younger some advice? We're kinda new at this "OMG the world is in chaos" panic that seems to be the vibe all around us.

Some people I come across during my travels have lost so much hope. How did you guys get through the gas crisis? Can anyone remember a time during your journey in life of something close to this, what helped you get through tough times or personal crises?

I have read article after article, politics, talk radio, "Experts", enough to just confuse myself all over again.

My heart says, "Jobs will rise again, people will find work, this is a vicious cycle that will bounce back, it will be ok."

But my senses tell me, "All of our factories are over seas now, everything made in China and Taiwan. If the huge businesses close, where will our overpopulated Americans work?"

I wanted so much to come back home to NH, when life gets rough, go home and start again. Well, here I am.... how are you guys doing?

If we're all in this boat together, I'll be the one in the middle with a fog lamp and binoculars. Some one pass me a paddle!

Kat

[dognh]

My advise, turn the TV off for awhile. Concentrate on your own family and your own future - you'll soon find that things are not as bad in your own life, your own town, or your own family as the media tells you they are. And be optimistic - despite the Obama disaster, at some point American's will wake up and take their country back - 2010, 2012 are that far off.

[Katlakat]

Thanks for your advice. The crossroads I'm at is whether or not to take some college courses towards a certification to change careers. With so many people out of work, I find myself for the second week in a row still staring at a blank street sign pointed in 4 directions. I haven't turned on the TV yet, and I'm really working on Optimistic thoughts.

[dognh]

No problem. I'm not sure of your current career or skills, but if your field is currently in a downturn then courses could be the right move, especially if they are in a growth field like healthcare.

[Katlakat]

I am a journalism Major drop out (ran out of college funds) that went into banking, (fish out of water) of which I just left my 5th bank job ever in my life due to extreme stress. The FED came down on banks so hard this last quarter, I was micromanaged into denial that I'm not built to be a banker. I just happen to have the skills and be trained in Regulations A-ZZ. Right now I'm freelance writing articles for pennies (great avenue for therapy) until clarity returns. I always loved this board, the ppl here helped me come back home.

[BF66389]

Originally Posted by dognh

My advise, turn the TV off for awhile. Concentrate on your own family and your own future - you'll soon find that things are not as bad in your own life, your own town, or your own family as the media tells you they are.

Very well put, while your own life may be difficult; compounding it with the sensationalist view on television is very counter productive.

[SFT]

I'm actually very young myself, but I can offer this. People overreact and underreact to almost every aspect of life. The media just seems to make this even worse because they always have to report the worst of things and put fear into everyone's minds. I think the people of the United States need to have more hope and believe that we will continue to be a leader in the world. When something threatens this, we need to address it, but never feel as if there is no hope or that things are really that bad.

At the same time, when things are great and everyone has money, maybe people should start putting a little money aside for times such as these where people might be out of jobs.

I have learned at a young age that nothing that the media says should impact my life in anyway.

[maxxoccupancy]

Most professional economists will tell you that excessive spending is generally bad for the economy (other than left leaning economists). Every recession since WWII has been preceded by a rapid run up in public spending and/or energy prices Bush and the Dem Congress began increasing spending dramatically in 2007. When a recession ensued, they increased spending even more and added on over $2 trillion in bailouts for 2008. Now Obama and the Dem Congress (and Dem legislatures) are increasing federal spending and taxes even more. Now that unemployment and economic troubles are getting worse, they're telling us that we'll have trillion dollar deficits as far as anyone can predict.

Nothing will change in this country until we vote out Congress. Until we throw out the political class, they will steal everything we earn. They will leave the last, best hope for mankind as nothing more than another corrupt, socialistic, third world country with no rights and no American Dream.

[WannaComeHome]

I agree with Dog: get away from the media! Yes, times are tough. Yes, times have been tough before and we've made it through. Yes, we will make it through this. Listening to the tv and radio only instalss a sense of panic that makes things worse.

Yeah, I remember the gas shortages: stations running out of gas, sometimes you could only buy gas on certain days depending on the number of your license plate... and cars weren't as efficient as they are now, so you needed gas more often. We got through it.

Yes, a lot of things are being outsourced, although we tend to be innovative and come up with companies/services to create jobs. And don't believe that the illegals are the only ones who want certain jobs: many high school kids want them too and aren't being hired because the hiring person is favoring the illegals! And, I don't know about New England, but many of the illegals are getting out of construction and moving into landscaping down here.

Point is, sometimes you have to cut back and be creative. AS you said, things are cyclical, the stocks will rise again (focus on long term, not short term! and don't listen to the daily dips and rises).

If you feel you aren't cut out for banking, then by all means change your focus!! I had a friend who was in banking, ended up having a nervous breakdown - she can only just now (20years later) touch a computer. Jobs are necessary, you don't have to love it - although it certainly helps- but you have to enjoy it enough to do it daily without getting ulcers. Writing is hard at the best of times to make a living at, but it's great for a second income. Is there anything else you can do for a 'day job'?

We find that in recessions, the best thing is to focus on stuff that people will always need. Food, pet stuff (food, vet..), personal products. No matter how bad things are, people will still buy soap and shampoo <G>

[maxxoccupancy]

...except that this is turning into a depression. A recession is two consecutive quarters of decline. A depression is an ongoing decline with no recovery.