A town of around 13,000 in Ohio is having half of its population laid off due to the failure of DHL's parent company. Stories like this are becoming more common as "company towns" such as Janesville, WI and Dearborn, MI are on the verge of losing their manufacturing base. What are all of these people to do, go back to school? Stories like this are really scary reminders of the times in which we live.
On another note Gallup released a poll showing great gloominess with the American economy. It shows that 95% of people view the economy as a crisis or great concern, but individuals are not as worried about their personal finances. The second part is not that surprising, since unemployment been gradually increasing and the economic damage has only really hit in the past three months. In six months with the economy on its continued slide should see those negative personal numbers rise as the cash reserves run out and the individuals realize the magnitude of how bad the job market currently is. Hopefully things get better so my prediction does not occur.
Wednesday, December 17, 2008
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