Merry Xmas: Another Year in The Valley of the Shadow of Death
Received an email from a friend which went as follows:
The Nattering One muses... Now what? While your praying this holiday season...
could you religious and Republican types that voted for Bush, (the idiot whose neocons got us into this mess)
get thy rod and staff and ask the little baby Jesus for some food, shelter, jobs and a durable economy?
Casualties in this valley of a depression that I know personally:
Tim, Willamette Valley: just got layed off from the plant for the 3rd time in 15 years.
Only 5 milspec titanium fabrication plants like it left in the US.
Wife works for dentist, two small kids. Did not refinance to pull money out, lowered debt levels, mortgage around $130K, has a stash plus unemployment.
Will start hunting after playing Mr Mom for the holidays.
Mike, Silly-con Valley: Bought home at $450K, went to $800K, wife had twins, he lost $100K job, got big severance package.
That was 2 years ago, he can't buy a job, the pad is getting thin. Goes to job fairs, the others give him their resume, hoping he has a connection.
Steve, LA Valley: (he wrote the email) At 55, 25 years experience in the industry, shown the door for a younger, cheaper, inexperienced replacement.
After 2 yrs of beating the streets, forced to sell $700K home for under $500K, after BofA would not refi him, even with a shitload of equity, he had no job.
Very fortunate to have found a buyer. Relocated from SoCal to NC, bought home cash, no mortgage, stash of cash, but still no employment after 2 years plus.
D&M, Silicone Valley (implants near LA): D lost her $70K beauty products sales job, they wanted higher quotas and younger sales people. At 52, she can't buy a new job.
M's $100K plus remodeling business went south for the winter, now working for a fellow contractor...
(actually the contractors wife, without her heiress bankroll, Mike's contractor buddy would have gone BK a couple of years ago, high ticket spec homes just aren't selling, unless theres a fire sale.)
They refinanced twice to $300K on $700K home, BofA will not lend to them further, as their home just appraised at under $400K.
Gone are the living high on the hog days, hanging on for dear life with $3K per month mortgage & taxes.
Rich, Sunshine Valley, FLA: hasn't been able to buy a job since turning 55, self employment as a handyman in FLA sucks, turns 62 in March, will collect SS.
Wife works for moving company, older kid, refinanced to the hilt, underwater, cant short sell former $700K home that he bought at $380K for even $250K.
Looking for a downsized rental to move into, they are losing the home to foreclosure in March.
Every day is a bad day when you've apparently become terminally unemployable...
despite applying for jobs every day but never even getting the courtesy of a reply acknowledging your interest.
Nyet, nada, nothing. Could that be a manifestation of age discrimination?
Cancellation of federally funded unemployment insurance compensation being doled out by the State of California was a bad day as well. Societal safety net gone.
It will be a good day when I am successful in finding a job of some description (without having to pay for the priviledge or sell insurance)...
to avert the very real longer term prospects of starvation and homelessness.
Thank you for you patience and understanding as I endure just another bad day while waiting for President Obama's promises of "Hope and Change" to kick in and rescue us all.
Glory be! The chosen one has been elected, now what?
The Nattering One muses... Now what? While your praying this holiday season...
could you religious and Republican types that voted for Bush, (the idiot whose neocons got us into this mess)
get thy rod and staff and ask the little baby Jesus for some food, shelter, jobs and a durable economy?
Casualties in this valley of a depression that I know personally:
Tim, Willamette Valley: just got layed off from the plant for the 3rd time in 15 years.
Only 5 milspec titanium fabrication plants like it left in the US.
Wife works for dentist, two small kids. Did not refinance to pull money out, lowered debt levels, mortgage around $130K, has a stash plus unemployment.
Will start hunting after playing Mr Mom for the holidays.
Mike, Silly-con Valley: Bought home at $450K, went to $800K, wife had twins, he lost $100K job, got big severance package.
That was 2 years ago, he can't buy a job, the pad is getting thin. Goes to job fairs, the others give him their resume, hoping he has a connection.
Steve, LA Valley: (he wrote the email) At 55, 25 years experience in the industry, shown the door for a younger, cheaper, inexperienced replacement.
After 2 yrs of beating the streets, forced to sell $700K home for under $500K, after BofA would not refi him, even with a shitload of equity, he had no job.
Very fortunate to have found a buyer. Relocated from SoCal to NC, bought home cash, no mortgage, stash of cash, but still no employment after 2 years plus.
D&M, Silicone Valley (implants near LA): D lost her $70K beauty products sales job, they wanted higher quotas and younger sales people. At 52, she can't buy a new job.
M's $100K plus remodeling business went south for the winter, now working for a fellow contractor...
(actually the contractors wife, without her heiress bankroll, Mike's contractor buddy would have gone BK a couple of years ago, high ticket spec homes just aren't selling, unless theres a fire sale.)
They refinanced twice to $300K on $700K home, BofA will not lend to them further, as their home just appraised at under $400K.
Gone are the living high on the hog days, hanging on for dear life with $3K per month mortgage & taxes.
Rich, Sunshine Valley, FLA: hasn't been able to buy a job since turning 55, self employment as a handyman in FLA sucks, turns 62 in March, will collect SS.
Wife works for moving company, older kid, refinanced to the hilt, underwater, cant short sell former $700K home that he bought at $380K for even $250K.
Looking for a downsized rental to move into, they are losing the home to foreclosure in March.
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