Just got word that my brother got sacked just a week after I was sacked.  He lives about 400 miles from me, works in a totally different industry and other family members (different industries) are concerned too that they may be sacked soon.   He got severance that pays him through April so it’s not all bad but finding another job as the job losses mount is going to be tough.

We are looking stepping closer into the abyss and I am shocked that so many people are still in denial.   SAVE! SAVE! SAVE!   Any unnecessary expense should now be avoided at all costs.

Sadly, I see a pattern: anyone anywhere can lose their job.   I counseled that having the right education, training and certifications would make you less vulnerable but that’s out the window at this point.  The net result of these problems is going to be massive salary deflation across the nation and a cascading spiral of deflation and depression.    The Fed is completely powerless.