steve wrote:
>
> --- Chandra Bajpai <cbajpai_at_attbi.com> wrote:
> I am amazed that some people can drop that
> > much cash in this
> > economy.
> >
> > I also observed that the supply has not gone up...I
> > would expect more
> > systems on the market as people would sell their
> > "luxuries" to raise
> > cash. I just haven't seen it. Any one agree?
> >
> I don't. The recession is not that serious for this to
> happen, median household income declined 2.2% last
> year, and unemployment went up 1%, that tells me the
> overwhelming majority of collectors still have their
> jobs and adequate income to collect.
These numbers don't sound too serious, until you realize
the nature of this unemployment (many highly-skilled,
college-educated workers) vs. the employment (retail,
minimum-wage, or low-wage jobs.) I know several
qualified engineers working far below their ability.
They're being counted as employed, but at a far lower
salary, doing something they're overqualified for.
Also, unemployment is grossly under-reported.
There are lots of people who are out of work long enough
now, that they're not being counted as unemployed anymore,
due to some trickery enacted back in the 80s to make
recessions seem less severe.
Unemployment is almost certainly 10-15% right now, and
again, note the sorts of people who were laid off that
make up that "only" 1% increase. A lot of them are
undoubtedly geeky computer collectors.
And finally, I know so many engineers out of work
personally,
that I have to conclude the government is lying about
the statistics they're releasing.
-- Ross
>
> steve
>
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Received on Fri Sep 27 2002 - 17:47:00 BST