Replies to post #21339 on The Rising Influence of Rising Affluence

[jbog]

semi infinite,

My response was to a comment referring to another 'great recession' like we expedienced 10 years ago.

Right now we're sitting with record unemployment rates and our economy has massive liquidity. Can unemployment go up as much as the great recession, yes, but that'll only put us in the 7% or 8% range which would put us in a not so bad area.

Weather we enter a recession or not depends on us. Plain and simply. Recently we've seen many large companies dismiss their workforce with the promise that they'll still receive their normal compensation. My hats off to them.

You'll see many companies throw their employees to the streets because management has to make their margins. We should castigate them, this isn't the time for profits.

Apple, being as profitable as they are has closed every store outside of China with the promise of still paying everyone. This is how it should be done, and if the states or feds have to chip in so be it.