Chicken Little Moment: Recession Fears Grow But There Is A Glimmer of Hope

A recession, by definition, is two or more (depending on who you talk to) months of no GDP, or negative GDP. Even a $200+  stimulus check didn't pull us out of the hole we are in. Even a trillion dollar loan to the financial industry didn't pull us out of the hole we are in. Even a conspiracy by the gasoline industry, lowering the cost of gasoline to unprecedented levels, and still we remain in a hole. 

About every other day there are rumors of layoffs. Some of these rumors come to fruition, like Goldman Sachs just officially announced layoffs. I heard about these via the "rumor" mill almost a month ago. 

This is a scary time to be a young worker. But I think that, because of the coming shortage of man power, there will be a strong bounce back. And young employees are smart; they don't put all their eggs into one basket, and they are obsessed about training and development, as well as education.  

A talking head on CNN last night said that the economy has "bounced back". He said that, because the markets are generally up, the Dow by over 1000 points from it's low last week, that he thinks the time to buy on a bargain is past. I am taking his optimistic forecast with a grain of salt as banks still hoard money.  Companies are still trimming their workforce. I don't know if it is so much because they need to or because they can, and use the economic climate as an excuse. Only time will tell how things will work out, but I do see light at the end of the tunnel. Companies have not adequately invested in technological solutions, which means that they still require a premium in man power. And everything can't go overseas; they still have to deal with some customers face to face. They still have to move goods back into the country. And they still need a US base to address these issues.