On the same day as the State Of The Union Address, our non-profit organization is announcing layoffs, due to cuts in state and federal funding. The HR department is losing 1/3 of it's troops, and our department's announcement is Friday.
Students of history (and what's happening to Ireland right now) can tell you what's coming. The cutbacks in government spending will suppress aggregate demand, and flood the labor markets, creating a vicious cycle.
We still have a long way to go, until our society hits bottom, and admits failure.
Only then can the healing begin. The rest of us are just collateral damage, and there is nothing to be done. Even learning Chinese might be futile. I need a hibernation chamber for the next forty years. At least.
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