50,000 + Job Lay Off.

Thank You
That is very good advice.

You are most welcome, and I hope this really helps. Actually, I am working hard to increase my knowledge and experience in my second income. I am actually teaching tuition, earning online and learning on stock investment as well. I hope one day my skill can help me to get another job, in case I lost the first one.

Hi cheongyc,

which kind of stock market skills do you aquire just now?

Are you a contrarian:-)

Ok, investing in perhaps one to two years is a good idea, at the moment you'll find no market price for many companies that would be sustainable.

I'm just curious about your new skills. Where do you think to find a job when Citigroup fires the next months over 50.000 persons who have already the skills that you want to acquire?

Well, I am not a contrarian. However, in the contrary, I am investing on long term profit. I am still in the learning process. I spend most of the time on my day time job, therefore, I don't have time to follow up closely on the share price fluctuation. So, I am suitable to be a contrarian. Actually, economy downturn is the golden opportunity for investors. Who hold the cash will be the king, because everything become so cheap during the recessions. It's a shocking news of the massive layoff. From this, we should be aware that a paid job is really unsecured. That's why I am working hard to improve myself to be a better investor.

Thanks for giving me the best response . I am really worried about the economy down turn worldwide. A lot of people are going to lose their job, and this will make the economy even worse. Less earning means less spending, and this vicious cycle goes on. Crime rate will increase too, because a lot of people lost their source of income. We can feel that the theft and robbery cases are becoming more and more common in our area. It's so scary, and I hope the economy will be restored the soonest possible.

Hi cheongyc,

when you're investing for long term profits then it would be called contrarian.

You said you would invest at these times when the stock market goes down.
So everybody gets scared like hell and thinks of selling to whatever price as much shares as possible.

When you step in as buyer you are a contrarian:-)

Wait some months until you get in, you'll get it cheaper, trust me.

Which shares would you suggest at the moment, playing in the commodities sector or pharma, perhaps banking or companies that pay you big dividends (ok, perhaps less from this quarter on)?

What is your profession when you finish the exam of this financial course?
What else do you learn in this course despite stock market teaching?

Oh I see, I think misunderstood what you meant. Because over here, if we buy contra, it means we buy and sell within 3 days. By doing so, we can gain or lose the price difference without actually need to pay the actual price. So, what you mean about contraian, is doing things which is oposite to others. Ya, in this case, I am doing the contrarian job right now. What you said is right, if we wait for few months, we will gain a lot of profit margin if we buy the under value shares. During economy recession, it's time to buy the blue chips which has excellent and lucrative business model. These hign end stock is unaffordable during up time. I didn't attend any financial course. I learned this from my parents and friends.

I will be robbing Peter to pay Paul.

Very Sad..
It's happening everywhere.
I can understand you not liking that job. Knocking on the doors of people that need help themselves or would eventually might need help themselves. I would not like it either.

I do not know what your present job is,in the plant, but the jobs that will still be there will be less well paying

No jobs will be left, they are closing locking the doors and throwing away the key.

Retraining, isn't an option. I can be retrained but no one is hiring. There isn't any jobs. At my age I doubt if they would waste time trying to retrain me.

I meant like jobs in your community or area. I know that for instance, what I do is less well paying than a manufacturing job, but it is meeting the need right now, and the "training" to do it was very minimal.

Hello GardenGerty,

why do you think the service industry will survive a severe recession?

Let's look at the facts. Service is a job sector that is created or demanded by people who have the money and can't or won't do this thing on their own because of being too busy with their business or their work. I think less people will have more money than now in two years.

What happens when one complete factory or half of the banking stuff has to leave the company, which companies will be hurt most by this job cut?

This will be the companies who served the now jobless people with food (inside the company or outside in the restaurants), groceries (super markets), entertainment (cinema, shopping malls, fitness studios). They will begin to lay-off, too, slowly.

Can you imagine when these jobs will be created again?

My opinion is that the layoffs for the service companies will begin one quarter later than the banking layoffs (because the demand for the service will drop dramatically).
They will recruite people in the service industry after the banking industry already recruited many persons in the future (if at all) when the demand for the service industry will be given again.

If we look to the worst case scenario then i would suggest buy already now some chicken, pigs and cows or sheep and plant vegetables, salad and fruit trees. Then we have the food on our own and you can trade some of this goods like it has happened in THE GREAT DEPRESSION.

Hi notlistening2,

this sounds nearly like in the great depression but it was worse:-(

When they hired one or two persons then they get up to 2.000 applications.
I think this will be possible soon when more and more companies will announce further layoffs.
In the last weeks there were areound 250.000 lay-offs announced from technology to banking through nearly all business sectors.

Sure, the best thing is strengthen your available skills, learn new skills that are in need in the coming months and years and change quickly the focus of job opportunities from "i want to work only in my old job" to "i can work in every job as long as i get paid regularly".
This change in the mind will make many people worrying and scarying.
As long as you can change this thoughts to a positive way, you'll see chances somewhere else.

Perhaps the book from NAPOLEON HILL "THINK & GROW RICH" is helpful.
It was written in the Time of The Great Depression and has the focus on changing the way you think to achieve the things you want. Ideal for the times coming.

Hello Tamara,

unemployment benefits in Europe will be no more that comfortable when the country is securing all banking accounts from bankrupcy.

In this case the government has to make much more debt and this will produce inflation in the long term. I think no government will raise the benefits as fast as the inflation will raise.

That means the money you get on the first could be already worthless a few days later and the "saved" money from the bank... has the same worth... nearly nothing.

Sorry when i'm so pessimistic for Europe, too, but it seems like someone forced them to secure something which can't be secured anymore.

Our children will suffer the most from this debt producing behaviour:-(

The only thing the government will perhaps make is offer a warm soup for everyone, so that the people don't demonstrate on the street.

Greetings from Germany/Malaysia

Bluepatch, you're right. As i read in your other comments, you already face a money meltdown on your own.
With raising electricity prices (caused by higher gas/oil prices and no reduction after these commodity prices fall in the last months) and no income or no raise in income everyone has to cut back other expenses, mainly food i believe. This in fact can influence the health because cheaper food is mostly less nutritious. What will happen next -> medical costs, where can you cut back costs now to get healthy again??

Otherwise staying in a icy house during the winter times in Europe or a extremely sweaty house during the year in Africa and else where is another possibility which leads again to severe health problems, i fear.