October 22nd, 2008. Layoffs today, I'm afraid. Everyone knew they were coming, but few had access to 'the list'. Today - I wear a full tuxedo for the event - after all, companies tell you what to wear your first day of work - but I've never heard any of them what to wear the last day. I decided better safe then sorry - better to assume formal attire.
For months now, market analysts have warned about our current 'credit-crunch'. In a very basic sense, the inordinately high number of homeowner payment defaults have narrowed the cash-flows for some of the biggest banks in our country. In some cases the reliance on this bad debt has caused some major banks to have to file for chapter 11 bankruptcy (read Lehman). This in turn, many banks have now become cautious of lending money to other banks. Hence the federal government has stepped in with an unprecedented bailout.
You've heard this all before, and while I will probably detail the internals of why this was allowed to happen, and how I believe this will affect our economy in future posts - that is not the point of this post.
The point of the post is instead to point out a redeeming quality of the layoff. As it turns out - as liquidity in the market decreases, the overall liquidity of people's time increases. Whereas I was working 12-16 hour days, I now have plenty of time to 'loan' out - so to speak.
While this does not come as much of a saving grace for many people that recently find themselves unemployed, it probably should. When taken as a positive, life only shows itself during these periods of time-liquidity. Use the time well my friends.
So in this, the second week since the layoff, I look to re-educate myself about, well, everything I've wanted to know, but never had the time to learn. In doing so, perhaps others will find solace in my discoveries, personal as they may seem at times.
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