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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (16838)	2/6/2004 3:00:43 PM
From: fatty	Respond to of 306849

I think one of the reasons why this economic downturn hasn't produced any significant social turmoil is because unemployed workers have smaller share of family obligation than their predecessors. For the singles, getting laid off is a perfect opportunity for them to relax, recharge and learn. For the married, most likely their spouse still has a job so life is still manageable. If the society still follows the 70s model where most women don't work, the aftermath will be completely different.

To: Lizzie Tudor who wrote (16838)	2/9/2004 9:25:55 AM
From: Amy J	Respond to of 306849

RE: "The major difference then, aside from now is that US companies were declining globally, not prospering as is the case today." Because they weren't offshoring to save their butts. RE: "Also the white collar workforce was in fine shape then." Your Dad obviously didn't work in the midwest at a large auto corporation. My Dad wasn't impacted, but many people were tossed out. As a child, I remember lots of people suddenly died. They didn't just get the flu. It seemed my Dad would come home and tell me about a death per week - these were stressed out white collar people in high-end jobs. It was just too much of a shock on people's systems. These days, things are handled quite a bit better. In other industries, it was even nastier, because they didn't even have 401k's back then and the corporations were robbing the pensions. Similar to how the govt is robbing SS by not privatizing it. There's a huge difference between a downturn where you lose competitiveness and one you where you don't. Thank goodness we still have our corporate competitiveness. Regards, Amy J