Comments on: Beware the Second Wave of the Recession

By: Phil Peterson

Phil Peterson — Wed, 16 Jun 2010 00:36:48 +0000

What we’re experiencing now is the new “normal”. And to add to more sadness, most of the jobs that were added were in the government sector. Don’t even expect things to greatly improve for at least 5 years. Until then, we’ll see good signs followed by more set backs, then a few more good signs, then set backs…it will be a zig zag of this sort for a very long time. Our youth as a group are disillusioned and don’t have the drive to succeed that prior generations had. This is important because it is this up and coming generation whose work will energize to social security coffers for us older set…spooky, to be sure.

By: sewingirl

sewingirl — Sun, 06 Jun 2010 05:46:07 +0000

My son was laid off for an entire year, has been back to work for about 6 weeks, and it looks like hes going to be laid off again! That doesn’t sound like a recovery to me!

By: Anthony

Anthony — Sat, 05 Jun 2010 07:17:42 +0000

Well put, as I also fear that the after shocks of the greatest recession will make their ways deep into 2011. Hang tight people!

By: FinanceFreak

FinanceFreak — Sun, 30 May 2010 02:28:17 +0000

Unfortunately, the oil spill will quash further drilling thus driving up prices at the pump thus further exacerbating a possible double dip recession.

By: rob62521

rob62521 — Sat, 29 May 2010 14:29:47 +0000

I can say this is certainly true in my city. I’m a teacher and big cuts came this year and we were “saved” this year because we had almost 100 employees retire — most were at the top of the salary schedule. However, with the state of Illinois not giving the school districts the money they promised, I’m sure more cuts will be coming next year and possibly deeper. Our city is losing different businesses because people aren’t spending because they have either been let go or are afraid they will be.

By: Rick

Rick — Fri, 28 May 2010 15:16:51 +0000

Good Article.
We have been putting money away in an emergency fund so we can survive the next downturn.

By: Isela

Isela — Fri, 28 May 2010 12:33:25 +0000

I believe you are right!

I have seen some of my friends suddenly relax, and then get totally freak out when a new sign of the recession “suddenly” appears.

Great post!

By: Elisabeth

Elisabeth — Thu, 27 May 2010 21:37:46 +0000

Alot of public workers who have put in 15, 30 or even 40 yrs are about to see their public pensions changed. Ages will rise 5-20 years depending on the state and their age requirements now. I think Social Security will be increasing their age requirements and raising the age of qualifying for Medicare. Almost all the programs are in trouble. Working in the public schools in Maryland I can tell you that teacher layoffs are already here and have been for 1-2 years. A friend in Florida talks about major layoffs that have leveled off enough for some teachers to be called back to work. She thinks its because they over reacted not because things are truly better.

By: Stephan

Stephan — Thu, 27 May 2010 13:34:37 +0000

great post, and i think this is something that people should remember even if the economy is heading towards a recovery without another dip. people should never think that their jobs are safe, that the economy is great, and that they can start taking on new debt. this is what led us into this mess in the first place, so i hope everyone has learned a lesson about PF.