Where to Go When Money Runs Out

December 17, 2008 at 4:43 pm 1 comment

Penned by Nick

We’ve seen a flurry of negative earnings reports and resultant layoffs in the past months–and unfortunately things appear poised to only get worse. Complicating the issue for the unemployed are State’s financial losses on the investments that are being doubly-hammered by the high unemployment, leaving unemployment funds in short supply.

As someone who works in the labor markets, this is a disturbing fact. We’ve seen downturns before, but rarely have they been exacerbated by such a fundamental change in the financial markets–to the point that “liquidity” seems to be drying up everywhere: financial institutions, employees, and fall-out funds.

The one bright spot on the horizon is the President-Elect’s plan to put 2.5 million people back to work, largely through the creation of green jobs. It’s an ambitious plan, but one that seeks–rationally–to undo the ill’s that plague our society: dependence on foreign oil, increasing energy demands, and a need to put people back to work. The next step, then, would be to connect these jobs (and potentially their taxes) to a “rainy day” fund for future unemployed workers, so that we don’t see bread lines again…


Entry filed under: Uncategorized.

Why “The Economist” Is Wrong on Green Subsidies What a waste

1 Comment Add your own

  • 1. John Van Doren  |  December 18, 2008 at 3:48 pm

    The problem is not liquidity, it is solvency. The pain of repairing the debt laden balance sheets of consumers, corporations, and government agencies will be in direct proportion to easy credit excesses that preceded the current crisis. My hope is that the train out of this mess will be the one that leads us to post fossil fuel, zero carbon world of sustainable living.


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