What’s the deal? Are we in that period where we’re waiting for the full effects to hit?

This may be the calm before the storm. When The dotbomb I worked for in 2001 was having trouble I wasn’t worried as there were still lots of folks hiring and the job market was strong. When I not surprisingly got laid off I even took a few months vacation to decompress and collect UE.

Next thing I know its 9/11/01 and every recruiter I talk to says they are getting 200+ resumes per open position.

So what I’m saying, is that we may have another ‘black swan’ event any day now. Terror attack, environmental catastrophe, market crash, who knows; that could tip us into a major recession. And cutting interest rates isn’t going to help us anymore.

But who knows, maybe it is different this time. Maybe technology has raised the efficiency and standard of living of the world enough that the bubble will become bedrock. I guess we will see.