One can be outraged at the behavior of the corporate world, and the labor laws. The worker has lost many things, and now is even losing his dignity.

CNBC ran a poll asking whether you are worried about the potential loss of your job.

The stats are devastating. What is even more devasting are the unsolicited comments made by readers. Some such comments follow below.

Things need to change. Why would the worker be always in a losing position? Should not labor laws be worked so that the corporate world share the downside time, as the corporate world take the upside during the booms.

If nothing is done, society as a whole will lose. Cutting jobs fuels the economic decline (I know about the argument that they reduced costs for corporations, but in a downturn mainting jobs limits the decline and workers time could be used to prepare for the next boom rather than just layoffs which just leads to losses to society).

In any case folks, you need to look after your self. Work on building multiple streams on income that YOU control (not your boss or company that controls it). There are multiple ways to do it.

Send us an email so that we can provide you with reports on how to build income that you control, and that no one except you can turn off! Email marketwarnings (at) gmail (dot) com.

Excerpts from readers comments on CNBC poll!

"

My position was eliminated 3 weeks ago. I have sent out over 50 resumes in that time, with no response whatsoever. — Tom

My husband lost his job in April. He had worked for the company for 30 years and never been out of work. We could lose our home in the future as savings will only hold us for another 6 months. — Ann

I am a Sales Manager for a Car Dealership. We are off 50% and have laid off A significant portion of our support staff and have cut expenses to the bare minimum. I am afraid it may not be enough. — Tim

I was laid off last Friday! — Fred

I work in consulting enginering and am terrified that I will lose my job. — Elizabeth

I hope I get laid off soon. I could use the break and my wife can't nag me about getting out to find a job since there aren't any right now — Scott

I voted no because I am currently out of work. — Jon

We supply industrial products, and our customers generally need more skilled employees. Those out of work should consider retraining...the jobs are out there. — David

I am a general contractor. The number of governmental and commerical projects to bid has been reduced significantly and the number of bidders has increased. Contractors who formerly were building in the residential market are now competing with the commercial market. — Patsy

I am a retired engineer, neither of my 30 year old twins have a job that is worth a damn. One has a masters degree. — Robert

My company is in the semicon industry. The axe is already coming down and manufacturing managers are getting laid off on a weekly basis. — Singaporean in Shanghai

I voted that I am not worried about losing my job... because it already happened to me two weeks ago.— Doug

I'm just going to sit back and wait until the new Democratic President and congress extends un-employment Insurance, decreases my taxes, increases my tax credit and gives me free healthcare. — Nick

I've been in the Real Estate business for 16 years now ... Where do you turn when the industry that you have spent your life learning and working disappears? I've started working retail part time just in case we close down. I've never been this scared in my life over the future of my career. — Paul

I switched careers from finance to water and waste water. Fortunately no matter how bad the economy gets people are still going to need to drink and poop. — Mark

I am a first year high school teacher with 2 Master's Degrees. 1 MBA in Accounting and Finance and the other in Organizational Psychology. Trying to find a career in a weak economy has been difficult to say the least. My biggest fear is that, due to budgetary cuts, I may be released before I am hired into a career position. — Chris

I work for a large IT company who is laying off skilled US tech workers by the hundreds. — Mark

In January 2008 I lost my job as a Credit Analyst when my employer eliminated my division. I've been looking for work ever since ... — Lynn

I have been told I will be laid-off - company closing mid November. — Sheryl

My house is paid for and it wasn't used as a giant ATM machine. I have no pity for you fools. — John

Hey John--I don't use my house as a "giant ATM machine," either--but I'm still worried about my job. The root cause of foreclosures (arguably, bad choices by homebuyers) has nothing to do with that of job layoffs (they are generally beyond our control). You 'have no pity for us fools.' But perhaps you need to learn compassion. — Jeremy

I'm with 'John'. House paid for and not used as an ATM. I do have pity, but those who played are now going to have to pay. — Todd

I worked for a Wall Street firm and am part of the bloodbath currently going on. I am currently out of work. — Juan

I'm a realtor, need I say more? — Tony

I'm a pharmacist at a hospital...sick people are abundant and we are short staffed. We need pharmacists...please go back to school and work for us. — John

My husband lost his job last year and since then we have sent out hundreds of applications via internet, fax, or brought over personally, but we haven't gotten a single response. Now, our savings are running out... — Johanna

I went as far as starting my own company to ensure my job security and attempt to protect my family. — Brad

It looks like this grad student will be working at the golden arches. — Todd

John - glad you have your house paid off. but, is it really necessary to put people down at a time like this? — Wade

People thought I was a fool when I left my job at a big Wall Street bank for a small trading company in June. The status now, my company is still hiring (and one of my biggest surprises is the difficulty I have at finding people), the company that I left, is laying people off. — John D.

"


Enroll to know more about the above and other topics and ideas such as market calls, trading education and ideas, ways to build additional income, retirement strategies, tax and money savings advice, etc. Enrollment instructions follow.

Send us an email to enroll to the insiders list of this blog. Send email to marketwarnings (at) gmail (dot) com. Subject line: "Enroll Me to Your Insiders List".

5 comments

  1. Anonymous  

    October 27, 2008 at 9:22 PM

    "I went as far as starting my own company to ensure my job security and attempt to protect my family. — Brad"

    He has the right idea. And growth of home-sprung small businesses will help spur the economy.

  2. Dave  

    October 27, 2008 at 9:29 PM

    I've worked in manufacturing my entire adult life. Many of the companies I have worked for no longer exist. I have always stayed ahead of the cuts. Many of my coworkers have not been as lucky.

  3. richard  

    October 27, 2008 at 11:43 PM

    Dave,

    I think that you have not been lucky, you have made your lucky. The majority rely on luck, and usually have faith and hope they will make it big at their company. They forget that things are not the same as in the old time where loyalty was valued both ways.

    Blogger: please keep it coming. Good work. Indeed, those comments show a lot of anxiety.

  4. Anonymous  

    October 28, 2008 at 3:08 AM

    The one thing you never hear mentioned by anyone who advocates capitalism is that the free market requires a positive level of unemployment (natural rate of unemployment), since you need a labor market. People who hate social safety nets neglect this fact either through ignorance or just because they actually don't care about the well being of anyone but themselves.

  5. Anonymous  

    October 29, 2008 at 4:57 AM

    what's a "career position"?! It's that sort of thinking that gets people depressed when laid off. The nature of today's working world is that one will HAVE to perform multiple functions in various job roles throughout your adult working life. There is no such thing as a career position anymore.

Recent Entries

Recent Comments