Letter Re: Finding a Job in Depressed Economy

Good Afternoon, Jim,
What can Christian people do if they have lost their income when the economy crashed in October 2008 and they still have limited funds? I am a professional and the market I serve is in decline. Suggestions? I have applied to hundreds of jobs with no reply. Thanks, – Paul S.

At this point, the prospects for economic “recovery” seem remote, especially with the planned tax increases (January 1, 2011) and the inevitability of higher interest rates.

I recommend that you start your own business, in something recession/depression proof.

Look through the 75+ SurvivalBlog articles in the “Self-Employment & Home-Based Businesses” category, starting with the oldest ones first.

And for some hourly and salaried job possibilities, see my discussion of “Three K” jobs.

Pray hard, and start digging a market niche!

Economics and Investing:

Frequent content contributor KAF flagged this: IRS starts mopping up Congress’s tax-reporting mess. KAF’s comments: “It’s becoming more and more apparent and important for preppers to make all purchase transactions of multiples of items in cash only. Read on…these new laws and IRS regulations are aimed at squelching any competitive incentives for trading with the small businesses of America. As a result, they’ll be thousands of small businesses closing in the next two years. And, this is what the Feds call building employment opportunities?”

Larry T. sent us this: Bank Fix for Unpaid Commercial Property Loans: ‘Extend and Pretend’

N.I.M. spotted another piece in The New York Times claiming that there has been a recovery. N.I.M. facetiously suggested: “I think that it’s safe for you to shut down the blog.”

Tom in Georgia pointed me to a great piece over at Zero Hedge on bank financing of the Federal Reserve. Tom’s comment: “This article has a good explanation of how the Fed may be continuing Quantitative Easing 2.0 while publicly proclaiming that it isn’t. The banks are using their cash reserves received from the Fed to now buy 10 and 30-year T-bills rather than the Fed purchasing them outright. This plausibly explains how the US bond market and equities can rally, while funds experience massive outflows all at the same time. The government Ponzi scheme continues.”

Thanks to S.M. annd J.D.D. for this one: Debt Commission Chiefs Give Gloomy Fiscal Outlook

The latest over at Dr. Housing Bubble: The rich do it too – Los Angeles County and million dollar distressed properties. 1,947 homes in L.A. County valued at $1 million or more are three payments behind or in foreclosure.