
Originally Posted by
Mr. Markets
yup, work is work at this point. over the years I watched many a person run out their unemployment,
turning down jobs, only to get desperate and all right AFTER their UI was gone. If you gotta start
dipping into savings, you gotta start jettisoning the old life way sooner than later. Economists like
to joke about the saying "this time it's different" when people start to say it, but truly, THIS time it
REALLY IS different.
We are in a 'balance sheet recession', not your ordinary inventory supply downturn. This is the ki8nd
of downturn where everyone is forced to rebuild their balance sheets and pay down debt. And all
the government spending in the world is not gonna fix those problems. If anything, it will make them
worse.
SO, if you are one of those people who has too much debt, too littl savings, and selling the car, boat,
RV, house, whatever will lessen the monthly nut, by all means do it EARLY in the unemployment
process this time around. I can with all assurance tell you we WILL have structurally high unemployment
for a very long time to come. Better safe than sorry -- do not hang onto your 'old life' if you
cannot afford it.