Does anyone ever wonder why the stock market is so high, setting high records almost weekly? I have been noticing that the last few months and I find it a bit troubling. They say the market is an indicator of the future; except when its not. Like the tech bubble in 2000 or the the collapse in 2008. I am not seeing world affairs, even US affairs supporting this high of the market; my fear is that we are in a bubble that could pop. During the years of the Great Depression there were many times when the market made comebacks, but the always fell back. The main cause of that was in 1937 when the US began a new austerity period (tea party, are you listening) and this drove the economy into a huge hole that took WWII to get us out of.
Today we have a staggering unemployment rate, comparable only to the Great Depression in terms of numbers of people unemployed or under employed 25m; the number of long term unemployed, 5m. Yes the economy is adding jobs at a good clip now, but the number of unemployed people is not lessening. Over 25 million people out of work, over 5 million out of work for over a year. Will they ever be able to assimilate back into the workforce? Another huge threat to our economy now, and I know I have been saying this for months, is Iran. The volatility in the Middle East has made the price of oil skyrocket, while demand hasn’t gone up. Economist say that if there were to be a war with Iran the price of oil could be over $200/barrel. Think of what $10 per gallon gas would do to this economy. It could cause a world wide depression the likes we have never seen before. I hope I am wrong about all of this, I hope I am just sounding alarm bells that didn’t need to ring.
What makes me question everything is that I am still unable to find a job. So, when I say the number of unemployed people remains the same; I am talking about myself as well. One of the reasons I am having trouble is because of my age. I have worked in media ad sales for 17 years or so; now that I am 47 years old it seems companies are hiring the younger workers. I am not saying all of this to complain, I am saying all of this because thats the way it is. And that is what I have seen. What to do, I am not sure.
As I have mentioned one of the goals of this blog is to have all of you follow along on my journey, I love seeing that people from Ghana, Ukraine, Germany, Canada, UK, US and all over the world are reading what I am writing. As you read please feel free to share your experiences, whats worked, what hasn’t and any advice you might have. Now its 9:40 NYC time so all of my Sunday Talk shows will start recording and I am looking forward to watching them. Don’t walk away from reading this posting thinking this is a depressing commentary, because inside I know I will get back on track and do just fine. This blog has helped widen my talent pool. More to come!