Jokinomx (1000+ posts) Mon Mar-02-09 08:44 AM
Original message
I joined the millions on the Unemployment roles today.
I was laid off Friday.... one of six, bringing the total to 15 out of 35 employees. I worked in very high end furniture manufacturing. Our furniture costs from 3 to 4 thousand for a small table to $25,000 for a six drawer chest. Last month we sent out three chests to a Morgan Chase bank worth over $80,000.00. FYI - I don't believe this bank was involved in the bailout. The owner stated that our clientele was the top 1% of incomes. Sales dropped off by 40% last month. We had been actually expanding until late last year. We entered our brand new facility on January 5th. Then the shit hit the fan. With those over 250,000 in incomes having their taxes raised... and as the owner said.... most of these people have lost nearly half their wealth within the last year (stocks & properties). So they have quit spending.
So now we know that this depression has hit the most wealthy in our country. The owner of my company stated he would call me back if the market improves. We shall see.
When will this all end?
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x5167023
Tell me again how trickle down economics doesn't work, now that you're a casualty of it.
You poison the root, and the branches wither and the leaves fall off. Poison it enough and the tree dies.
If you were employed making, as you say "very high end furniture" that makes you a skilled trades person, who should be able to find work even for a lower wage.
jody Donating Member (1000+ posts) Mon Mar-02-09 08:50 AM
Response to Original message
3. "When will this all end?" When the excess inventory of over priced goods is depleted requiring
their prices be reduced to meet market demand.
In your example, the $25,000 six drawer chest may be worth a few thousand to consumers.
You do realize that a company that employs presumably skilled trades people to produce "very high end furniture", will probably not see any reason to continue manufacturing their product when they can't make
what they consider a reasonable profit on it.
This will cause that company to reduce or cease production resulting in those skilled trades reentering the job market.
thecrow Donating Member (1000+ posts) Mon Mar-02-09 08:56 AM
Response to Original message
7. I have found that no one needs a jewelry model maker either 
Those of us in the "luxury" items manufacturing business have nowhere to turn.
I've been at my work for over 35 years. Where do I get a job? How do I pay my mortgage?
Freelance doesn't cut it. Nobody's buying.
I do not know what to do... I'm closing in on 60 but I am too poor and too young to retire.
I've been working as head modelmaker for a company for over 15 years... unemployment is a joke...
It won't even cover my mortgage. Forget losing half of everything. I will lose it ALL.
Do you get it now ?
The wealthy people that support you, that you profess to hate and want to punish are now voting.
KharmaTrain Donating Member (1000+ posts) Mon Mar-02-09 09:09 AM
Response to Original message
18. But I'm Being Told The Upper 1% Creates All The Jobs...
First of all, let me add to the many who are saddened to see you've become a victim of the boooosh economy and here's hoping for a quick turnaround in your fates. Hold those close closer...and stay believing in yourself, good things will happen.
Now I thought the rich were the ones who created the jobs, the wealth...that we should let them lead us out of this financial quagmire and don't dare touch their taxes. You'd think if this was the case, we'd see them cranking out jobs by the score...let the "marketplace" buy our way out of this thing...plenty of free credit, no money down. And, of course, government never creates jobs. 
Those who have money are holding on for dear life these days...the party is over and many are having a big hangover.
Actually government creates jobs at a rate of probably 4:1 for any given task as compared to a private company, which is a large part of why they're so effective at spending other peoples money.
Now you want to give the government the ability to take more of what they have, without realizing that wealthy people are much like some of you.
The less they have the less they want to spend or invest or what have you.
The more the government takes away means less they have to spend on a compounding basis.
The less they spend, as you correctly note, is less to trickle down to the rest of you.
You probably still don't get it though.
