It is hard to believe the depths to which our economy has sunk. I was reminded of this by conversations with friends who are being forced to cut their employees, my own employer, which is cutting 10% of its workforce, and my recent Fidelity statement, which showed 50% declines in my investments in 2008. More telling, however, is the difficulty which some of my very well-trained physician friends are having finding jobs. These are folks who trained at Vande and Hopkins, whose prospective employers have told them that hiring freezes are in effect at their institutions (like my own) and that they are too expensive.
All of this is not a plea for "woe is me." Medicine is supposed to be recession-proof and when one hears stories like these, the poor state of our economy really hits home. I continue to invest, save, and hope for the best. I feel fortunate to have a job and hope my friends and family make it through the next few months (and not years) while our latest financial meltdown sorts itself out. We will all have to make some tough choices in the coming months, but saving the maximum amount possible seems like a no-brainer. No more Americano at Starbuck's- mine are better at home anyway. Less New Seasons grocery (think Whole Foods) and more Fred Meyer (think Kroger or HEB). Less restaurants and more home-cooked meals. While this meltdown is a big change, it has the potential to transform the way we live our lives and how we spend our money for the better. I continue to be hopeful... what else can I be?
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