That is how it seems, anyway, when money issues play too large a part in life. In reality, there ARE worse things, and I have experienced them, in the past. The problem is that they aggravate other issues, and act as a magnifier.
I can only imagine what other people are experiencing, but I imagine that there is a great deal of common experience among people affected by the economic downturn that started in 2000. In our case, we didn't really notice the effects until late spring of 2001. Even then, we were able to continue, not unscathed, but "making it". By the spring of 2003, the job market, near home, was in collapse (at least in the IT field as well as in telecom). Wage deflation hit a critical level.
We are hearing horror stories of people reduced to panhandling to meet their basic needs. What is the cause? What is the cure? The surface cause is the collapse of the IT job market, to the point that wages have fallen to early 1990's levels or below. What has that happened?
One thing that has transpired is that even though companies need more people to do the work, they refuse to hire, leaving the work undone. In really competitive industries, such as telecom, the regional Bell companies have pressures. One, in particular, which created problems for itself, under previous management, would seem to have cash flow issues that are requiring them to save money, rather than get the job done.
The problem is, they still want to get the job done, so they are pushing full-time employees past the limits of what are reasonable and ethical (maybe even past what is legally possible). What is the result? People are quitting, rather than have this sort of pressure and what seems like abuse.
What can be done? As long as there are companies from India (for example), that are bringing in people on L1 visas, and paying them at Indian scale, but paying their expenses, there will be pressure on pay rates. We used to see Indians on H1B visas, but that is a thing of the past. The new reality is the L1, as the people are tied to the companies, and can't jump, like they could with the H1B.
People can say that people in the IT field should stop "whining", but IT is just one of the affected professions. Another is anything to do with telecom, although there, it was the massive layoffs and overcapacity that did in the job market, in that industry. The effects are starting to be felt. One real danger is the collapse of the real estate market.
I'm not sure when the full effects will be seen, but people laid off or who have suffered massive wage deflation are being affected by threatened foreclosures, or have already been foreclosed. That can't be good for the real estate market.
My guess at the culprit for what we are seeing is the massive, anti-business political pressure from the Democratic party. The Republicans feel like they have to join in, to avoid being tarred by the issue. That, and the high-profile prosecutions of business figures (again, driven by politics), are causing comapanies to be so risk-adverse, that they are not hiring, when they would like to be.
What is the solution? Find a way to hammer the Democrats over their destroying the job market, by their anti-business demagoguing. The Democratic politicians, and their buddies, the trial lawyers, have put us in this spot. How we get out is hard to see. It would help if President Bush and the Republicans could win in the fall, but that is very uncertain. Right now, the Democratic weasels seem to be winning. Not all Democrats are weasels. Many are good people, and I would debate them. The weasels are the John Kerrys and Theresa Heinz Kerrys of the world. For the good of the country and civilization, they need to be defeated.




