Prediction from uscitizen - Pay attention!

In the last month we have had to lay about 20 people off. That is twice what your estimate is for the next 6 months.

One of my co-workers told me her husband has been cut back to 40 hours. He has been with the company since the early '80s.

It is going to get ugly over the next 12 months. There is no quick fix for this one.
 
Likewise here Froggy.

He has a great job at a great Co which has already told their employees that there is no way they are letting anyone they have go because they have the team they have always wanted right now. They also said they can lose money for at least two years going forward before there is any real trouble. They have the pockets to hang in tough.

We are thinking about buying another rental house soon.
 
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You are both fortunate.

We had deep pockets for tough times too, but '03 & '04 were tough times for the cable tv industry. We used a lot of ours up then.
 
Solitary said:
You are both fortunate.

We had deep pockets for tough times too, but '03 & '04 were tough times for the cable tv industry. We used a lot of ours up then.
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Its going to be tough, Im not convinced two years pockets is enough.

Like I keep telling my son though "Your great grand parents survived a depression and so can we".

Anything you gain in life can be taken away. They can never take your spirit or what you have learned.

This will be the first time in my life that I have been in any kind of position to gain in down times. I almost feel guilty. I think buying a house to rent is a decent Idea though. Takes the house off the market , gives someone a commission, It will give someone a decent place to rent at a reasonable price(I always rent below market so I can be real choosey about my renter). I think this kind of profiting is good for all.
 
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