Posts Tagged “American Economy”

I can’t believe that it’s been almost two months since I last sat down to write.  When I first started this blog I didn’t foresee a time when weekly updates wouldn’t be the norm, but lately I’ve felt like I barely have time to get things done, let alone to sit down and babble about whatever’s on my mind.  It’s funny in a not-so-funny way, but ever since I lost my job and gained an extra 40 hours a week, I seem to have less time to get things done than before.  Did I somehow actually lose time?  Or has more just come up to fill in the gaps?  Or have I just lost the will to do anything but watch the hands on the clock spend ’round and ’round?

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More and more over the past few weeks, the topic of the economic bailout has been at the forefront of the news.  The more the government promises, the more companies hold out their hands saying “gimme”.  And during this whole game, homeowners who can’t pay their mortgages are crying out that it’s not their fault and they need help and it’s the lenders who caused their problems – and what’s worse is that the government is saying “okay” and granting the ability to refinance at lower interest rates and bailing out mortgage companies.  When will people and businesses accept responsibility for their own actions and bad choices, and take the blame for the consequences onto themselves where it belongs?

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A meeting was called yesterday by the Vice President that oversees my work location, and it was then that she announced the entire service center would be shut down, and all employees laid off.  Some people cried.  Some made jokes to break the tension.  I stood there trying to soak it all in.  Everyone knew it was coming, and try as we might to pretend it would be a long time from now, there’s no denying it any longer – we’re all out of a job and it’s time to move on.

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I won’t pretend to know a lot about the semantics of the American economy (as was evidenced by my C in my grad level economics course), but anyone who’s paying attention can see that the banking industry isn’t doing so well lately.  One of the largest banks in the world, CitiGroup, has been laying off thousands of employees a year for multiple years now after claiming billions of dollars worth of loss in the last quarter of 2007.  This is just one example.  Anyone remember the scene in Mary Poppins when the kids caused a run on the bank and everyone demanded their money back because they didn’t feel like their money was safe?  I’m just about ready to go demand all my tuppence.

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