Wednesday, October 15, 2008

Job Market 2009


(via reader Tim H.)


OBloodyHell said...

a) It's cheap and rather obvious.
b) it's probably wrong.

I've seen comments before about how awful and horrible things are, and how, in previously serious downturns, it took many, many years to rebound.

1) This is not the same market as then. That was an industrial economy, this is an IP and Services economy. The seeds of growth are spread much wider and depend far less on judgment calls made by a small number of individuals.
2) At its peak, the market hit 14k. Now it is bouncing around 9k. Up until less than 10 years ago, IT HAD NEVER BEEN OVER 9k... *ever*. Pardon me if I sob into my widdle hanky. Even if it goes lower, and it may, it's got a long ways to go to wipe out real property (see below).
3) I've seen it cited that the recent drop tore 7 TRILLION Dollars out of the economy. Wow, that's a LOT!! Actually, no. It's not. Yes, it hurts. But, once more -- put that into perspective -- That's all of six months of the economy's production in any of the last five yearsSuppose you were making a quarter of a million dollars for the last five years, and only a little less for the ten years preceding that... losing a $125k would hurt. But is it going to destroy you? Of course not.

I'm not claiming you should go around with a smile on your face. But you haven't been reamed with a 12" pipe, either.

Obama is armed with said pipe. Let's not bend over for him, hey, what?

Carl said...

Lighten up--it's funny.