"M.L." wrote:
> Several of my engineering friends have been let go from their jobs in
> the last 8 weeks (or coming 2 weeks)

Things started going downhill in 2007 (when the real estate bubble burst), 
but they got a lot worse when the banks started failing (thanks in large 
part to the real estate crash months before) at the end of September.

Economics has a lot to do with people's expectations. Obviously the capital 
and the people are still there, and the resources (oil, metals) are even 
less expensive now. But banks are afraid to lend, and people and companies 
are afraid to spend, therefore the economy is slow.

Vitaliy 

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