Hopefully this isn't a direct hit for any of our .net members but some of todays reports are just another sign of what the next year is going to look like:

Job cuts get brutal.

Home Depot to cut 7,000 jobs.
Pfizer to cut 8,000 jobs.
Caterpiller to cut 20,000 jobs.
Sprint to cut 8,000 jobs.
Philips to cut 6,000 jobs.

 

My wife is about to lose her job at GE. She has been there for 20 years. The worst part is we live in a small town and there are just not many job opportunities out there right now, especially for what she was making with GE. We are in for some serious lifestyle changes.

 

if everyone keeps saying this it will continue to get worse. it causes people who have $ to stop spending which in return causes more job losses. it will not cure everything but it will help alot for people to spend more $. i have never been "very well off " financially , and in the last 6 mos i have been spending like crazy , trying to do my part. if i had more credit i would be investing in real estate. i don't care if it hasn't hit bottom yet. eventually i would get my $ back +$$$. just like i bought this hhr , i have NEVER had anything this nice. and i know that most any vehicle purchase is going to end up being a big loss. save the usa , pay cash. i did. do it today. sell your house , sell your car , take a loss , and spend that dusty $.

 

I work for one of those companies, and am really hoping not to be one of the ones let go. We've already lost almost all of our contract workers in my deptartment.

 

It is kind of a circular problem. I think that the economy would actually get better if everyone wasn't reminded daily about how bad things are or how bad things are perceived to be.

 

dats zegzackly wutz iz be tryn to sae now , spend that that dusty $

 

Amen X2!
Hey, I thought our new Pres was going to solve all of this

 

Lets leave politics out of this please unfortunately this is reality for alot of people. Hiding our heads in the sand is not going to help any.

 

The reality is unfortunate. Our local economy here in Wichita is very heavily supported by aircraft (Cessna, Boeing, Beechcraft, Learjet) I know plenty of people personally that are not sure if they will have a Job next week or next month.

 

My cousin works for Boeing in Kansas and was just saying he may not have a job very soon

Several years ago I did lose my job and did sell my house (fortunately it was before the market crashed). I downgraded from a $35,000 car to an $18,000 car. As for spending money, I am one to like to spend it all. But to do so now with our current situation wouldn't be wise.