The End of the American dream?

[yanksrule80]

Is the american dream coming to an end for all of us? I dont see anything good coming anytime soon. All I see is more job loss and a country that developed to quickly. If the automobile industry goes down so does every factory that produced items inside the cars which means even more job loss. Then if they lose their jobs they wont be spending and local small town merchants will not be able to pay rent or employees causing all of them to lose their jobs do to bankrupcy. The housing boom has slowed causing massive job loss for builders which also effects the companys that build supplies that go into houses. Also with this downturn no one will be redoing their homes which again results in more job loss.... Am I just looking at this completly the wrong way? I am 18 years old and just scared of whats going to happen. I work at a restraunt for a company that owns 4 in NJ and 3 in FL and last week they had a huge meeting of what to do because buisness has just been killed. I am not to worried bout losing my job because I had such a good summer and still got school to worry about but what is going to happen? Will these companys start hiring again when this turns around if it ever does?

[aiki14]

Is the american dream coming to an end for all of us? I dont see anything good coming anytime soon. All I see is more job loss and a country that developed to quickly. If the automobile industry goes down so does every factory that produced items inside the cars which means even more job loss. Then if they lose their jobs they wont be spending and local small town merchants will not be able to pay rent or employees causing all of them to lose their jobs do to bankrupcy. The housing boom has slowed causing massive job loss for builders which also effects the companys that build supplies that go into houses. Also with this downturn no one will be redoing their homes which again results in more job loss.... Am I just looking at this completly the wrong way? I am 18 years old and just scared of whats going to happen. I work at a restraunt for a company that owns 4 in NJ and 3 in FL and last week they had a huge meeting of what to do because buisness has just been killed. I am not to worried bout losing my job because I had such a good summer and still got school to worry about but what is going to happen? Will these companys start hiring again when this turns around if it ever does?

Let's just step back off the ledge a little. Ask your grandfather or somebody who survived the depression era if the same question wasn't asked in '33. The system is very robust, and over the last couple hundred years we have undergone many upheavals (or is it downheavals?) and come through in due time. Hopefully the folks in your generation will come through this with the type of attitude the depression era generation did, and we as a nation will start saving again and living within our means as individuals and as a nation. Of course I am constitutionally optimistic and believe in the overall goodness of people, and this may cloud my judgement. For all I know, the over pampered "me" generation of the 80's and 90's combined with the over greedy powers that be, might just screw up the whole works and we'll go back to stone knives and bearskins.
I am planning on coming out of this mess bigger and better than ever, but I have stockpiled hard assets, and ammunition as hedges against the above.

[Lou]

Define the "American Dream". For those people who are motivated to be successful, for those people who desire to advance their education, the "American Dream" is alive and well. I think too many people think its a right to be "rich" because they live here. I work for Robert Half International, specifically in the Technology division. I place full time IT professionals. I can tell you this month will be largest month in terms of placement dollars by far. Think about that. In tiny Columbus, Ohio technology is on fire. We are each going to gross more this month than the avg American makes in a year. The automotive sector has been dead for years, the banking sector got what it deserved and real estate is coming back to reality. Education yourself and make smart decisions and you will be just fine.:beerglass: Just my two cents from a avg American.

[madcowdisease]

Define the "American Dream". For those people who are motivated to be successful, for those people who desire to advance their education, the "American Dream" is alive and well. I think too many people think its a right to be "rich" because they live here. I work for Robert Half International, specifically in the Technology division. I place full time IT professionals. I can tell you this month will be largest month in terms of placement dollars by far. Think about that. In tiny Columbus, Ohio technology is on fire. We are each going to gross more this month than the avg American makes in a year. The automotive sector has been dead for years, the banking sector got what it deserved and real estate is coming back to reality. Education yourself and make smart decisions and you will be just fine.:beerglass: Just my two cents from a avg American.

Seems a little counterintuitive given the unemployment numbers but are you saying RHI is a buy?

[0ICU812]

True, but perhaps its time for GM and Ford to bail. Its been a long time coming and further money would only prolong the agony. I can envision a world where a bankrupt GM and Ford can come back leaner, stronger, and by comparision, make Toyota and Honda look like outmoded giants.

Bailouts, grants, loans, subsidies, tax credits, are not creatures of our capitalist society and are really impediments to healthy job creation. Short term pain sometimes equals longer term health. We survived without American Motors, Hudson, and others. We can survive without GM and Ford.

[coolio]

Don't despair, yanks. Educate yourself and soak up all you can from the financial pages. You're living through a historic period. It'll go back up AND it will go back down. In my adult lifetime I've only seen 2 times of non rational behavior in the markets. One was the tech bubble and this real estate one. Learned (and learning) some painful lessons from both. I came back stronger than before in tech and it will be the same from this one.

As for your career, don't put down roots too early. You've got to be able to move at the drop of a hat. There's always parts of the country that are experiencing phenomenal growth. That's where you've got to be. Good luck.