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Tuesday, January 13, 2009

Ehe, hey beavis he said laid off. eh he he he

As the unemployment rate continues to rise currently at 11.1 million unemployed. It is starting to feel like no sector is safe anymore it seems like almost all sectors are losing revenue and people due to trickle along economics where major companies who rule the markets can't get credit and since they can't get credit they can't make payroll or pay for services they normally pay smaller companies to do and they cut jobs and in turn the company they once relied on to get services and supplies can no longer sustain because the big company who can't get a loan can't pay for the service they used to pay for and that smaller companies revenue goes into the tank and so the cycle continues on down the line.

This is a bleak time in our countries economic history but the facts remain that not all sectors are doing so bad. The lawyers always do well in times like these because people are more often than needing their services for a multitude of things. The health sector seems to be doing well for now but I am not sure how long that will continue as long as people continue to lose their jobs and along with their jobs goes their health coverage and that was very expensive in the first place for either them or their employer. When one does not have insurance they go to hospitals with no coverage and the hospital gives them services that they cannot pay for and the state has to reimburse the hospital at a rate that is not even close to what is billed for instance. I was told by one director at a hospital one day that his hospital billed 2.4 million to state of New Jersey for hard care for the uninsured they only received a couple hundred thousand dollars in return. I am not sure how long this is supposed to continue or how it will end but it will not be pretty.

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