Korean Job Discussion Forums

[sojourner1]

Yes, it's going to balloon out of control with no limits in the short term. It will probably balloon until the US can't borrow from Asia any longer.

http://articles.moneycentral.msn.com/Investing/SuperModels/warning-worldwide-wipeout-ahead.aspx

This is unprecedented to hand over free money to capitalists operating in a free market where you're suppose to lose if you made an irrational or dumb decision or just unlucky.

Will the government bail individuals out? NO
Will the government help those who really need help? Very very little.
Will the government sacrifice every thing to serve the rich? Probably so as that's the path it's on. They justify sucking on the governments big tit as a necessity to keep the economy from crashing.

[mistermasan]

look on the bright side...that article you posted is about two months old. things can only have gotten better since then, right?

just look at it that way: america is dead as the world's first de-industrialized nation. ford, chysler and GM all go belly up.

you are forewarned. now go be forearmed. put YOURSELF in a situation to survive/thrive as far away from ground zeero as possible.

[BS.Dos.]

[seosan08]

[joeheckel]

[sojourner1]

Chrysler is paying out $30 million to executives while it has it's beggers hat out for Uncle Sam to pitch in $25 billion. The company claims it doesn't want executives to leave, but it's obvious they are only padding themselves. Where are they going to go in this economy that's letting all kinds of people go? Executives should be loyal to the livelihood of their company and shouldn't need an extra $1 million in annual bonus when the company is failing. We got it all wrong in American business today.
http://blogs.moneycentral.msn.com/topstocks/archive/2008/11/14/chrysler-gives-bonuses-asks-for-bailout.aspx

It seems logical that the US dollar will begin to devalue next year due to how unstable the US really has become and how everything in the economy is chain reacting to negative events in a downward spiral. It's all correlated so expect things to progress to very serious magnitudes. There's no way the US dollar can maintain strength. I agree, we don't produce much more than war, weapons, and debt in modern times. You might be making a good choice to come to Korea right now and save Won, because it's possible good exchange rates may come of it later on.

I believe it's possible if you saved up won and then bought dollars when the dollar tanks out and you went home, you could get real bargains on just about anything, because it would strictly be a buyers market in a depression like downturn lasting a few more years. We're probably looking at another decade or longer of seeing the results of Bushonomics, the Iraq war, and other negatives that just piled up on our country in the past 8 years. It's unrealistic to think the national debt will ever be paid so it's anyone's guess what's going to happen when we default. We're going so far into debt, that eventually it will be declared we don't have the cash flow to pay the interest on those loans. This is when the world comes crushing down on America. It's really a bad bad deal Bush got us into. I'm not sure how Obama and the new administration will save the country from total system collapse, but it's obvious we're in big big trouble this time around and it's going to take some more time for it to come full circle as big wigs are trying to slow down and hide the effects of corrupt mismanagement. While they will have to raise taxes, it is not enough, because America is not producing much in a profitable way nor are workers making as much as they would if the economy was right. Not to mention, unemployment is expected to continue to rise to awful levels which means low stagnant wages and fewer tax revenues. In this situation, the people who work will be punished for good behavior. Those who earned an education will also be mostly in for punishment. Those who do nothing will be off the radar, but living in extreme poverty.

[joeheckel]

Chicago's Mayor, Daley, would be someone I trust as an economic barometer of where the manufacturing sector is headed. Afterall, the Midwest is home to most of our industrial infrastructure. He has been saying for months we are in a bad spot that only gets worse each month. He is citing several major employers in the Midwest are planning large layoffs in the coming months.

http://cbs2chicago.com/local/daley.city.layoffs.2.863161.html

Mayday, Mayday.......forget the "whiteflight" of the late 80's and early 90's. These people are stuck in homes they can't sell with no jobs within several 100's of miles. How many of our industrial cities are in this type of situation or worse? Pittsburgh, Buffalo, Milwaukee, Cleveland, Detroit.....all arguably in worse shape than Chicago. I think the only hope for cities like this will be the plan Obama has released with regards to the civilian service like they did during the depression.

[mistermasan]

so joe...america is in the dumper and you are lighting out for greener pastures. godd on ya. and have pinned your hopes on the Republic of Korea?

about one year ago, 1 US$ was equal to approx 880 KRW. these days it is northwards of 1300 per. not many folks see a return to the triple digit levels anytime this decade much less sooner.

[GreenlightmeansGO]

If the dollar tanks it could end up better than that. The discussion is about the dollar, naysayer.