Case In Point: The man who saved too much and the family that saved too little

Here are two examples that are entirely too typical of the current economy.  Rick Rose is a Washingtonian who saved and saved, bought a conservative apartment but is still struggling after nearly a year of unemployment.  The Wilsons are a family that spent and didn’t save for the the financial situation they currently find themselves in.  The Post will be following both Rose and the Wilsons for the next few months to see how they cope with their joblessness and the financial fiasco it’s created.

What is so crazy about the current job market is that entire fields and labor sectors seem to have evaporated almost overnight.  In my personal opinion, this all feels like a HUGE market correction.  It feels like our over consumption and spending as a country created employment and jobs based on credit.  Now that the bill has come due on both a personal and national (even global) level, it seems like employment is shrinking back down to it’s natural levels.  I think the big question now is where do people like Rick Rose, the Wilsons and I go for new jobs?  Do we become janitors or UPS delivery people as other articles have detailed?  Or are there other markets and fields that will develope out of this economic tragedy?  Hard to say but I’m still looking.

Michelle Singletary – Down but Not Out: Overcoming Job Loss – washingtonpost.com.

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