Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (37164)	8/13/2003 1:18:07 PM
From: energyplay	Read Replies (1) of 74559

In Silicon Valley - New jobs pay less than the old jobs did (about 60%-80%), and the 70% + of people who have kept their jobs since 2000 are gettting 10-20% less, since bonus payments are down and stock option profits are long gone.... A lot of this pain is real, a few people starting to lose houses. A lot of it is people who won't be able to afford that S class Mercedes, and end up with a C class. Remember that things got MUCH better and bettter in Silicon valley for a number of years, roughly mid-1990s to 2000... lots of two income families,and many people who did put some money away before the bust. I don't think the pain level is ANYTHING like what the rust belt went through. I would not go so far as to picture the Valley as being a bunch of spoiled rich whiners who are upset thay can't make $10 million overnight, and now must work 4 or 5 years to make $1 million, but it is something I would keep in mind....

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