Saw this on CNN.com today:
Job Cuts

 

Bad news. Folks, some of you have heard me talk about this type of thing becoming more prevalent. No, I am not a person why likes to spread bad news, but unfortunately I see more and more signs that North America and the world in general is heading into the biggest depression in history.
For those of you in dept, my advice is to do whatever it takes to get out of dept AND STAY OUT OF DEPT. If what I see coming soon is true then those in dept will be hit extra hard and could lose everything.
The government, politicians and media will try to publically convince you that everything is rosy and that the economy is starting to pick up. Don't trust them. They lie. Check out the true facts for yourselves via other sources.
Before any of yoiu flame me, please make sure you have the facts in hand and are not speaking from emotions or opinions.

 

I think reducing/removing one's debt is just plain common sense. There is nothing worse than calculating how much of your paycheque goes to intrest on that debt and then figuring out what you *could* be doing with that money instead.

 

i do mortgages and i see alot of people overextended everyday, sad part is sometimes we consolidate their debt and get 'em back on their feet only to here from them 3 years later in the same boat :

 

we just paid 1.5 million for a John Deere dealership :- I don't like the sound of this at all.
DM01

 

don't let it worry you, our country has seen many ups and downs in our economy, i personally have seen my line of work go up and down...i do agree our economy is unstable right now but i also beleive it can change for the better too....good luck w/ your new business.

 

Well I think that this "recession" is caused by a: the saturation of the market and b: by the "always cheaper" method. By b I mean that the time an average worker has to work for a certain product is getting less and less. (Don't compare eg an old T-Bird to a new one but a car sporting AC, power everything etc for the last 5 years)I think that we are at the limit of growth somewhat- since we seem to have enough cars, VCRs, cellphones etc we won't buy too many more of them.
My personal view says, in addition to the debt statement of Mexstan, buy quality. Quality products made in your neighbourhood will last longer and give your neighbour the chance to buy your products...

Oversimplifying AlpineRAM

 

I don't like to be narrow minded but we do have some problems. 1) corporations are shipping thousands of normal labor jobs overseas, the kind that keep normal Americans eating, and 2) we keep buying foreign imports. Our dollars are being shipped overseas to buy products and labor making them unavailable for Americans. I know, label me narrow, but where was your 3500 assembled? St Louis? I don't wish any bad on the other countries and they do need help, but somehow we have to start watching our own back yard. Corporate execs need to have their paychecks and perks brought back to some semblance of normal - - again, not against making money, but not over someone else's back.

 

What FiverBob said.

DeWain