Engineering is being outsourced little by little overseas. It is cheaper to pay Wipro or some other foreign entity to have their EE's work on stuff VS employing an American with 60K in college debt. The first phase was Manufacturing, the US is almost done outsourcing all our Manufacturing. The second phase is outsourcing white collar work, this is in progress right now. It will probably take 30 years before we complete that transition.
Some of you guys have some nerve to ask the question "why doesnt this guy go out and simply find work digging a ditch". I think you have to be a little more compassionate and understanding of the situation. There were many people out there who had responsible jobs, such as managing a team of people, and now they find themselves on the brink and placed into a life they did not choose. Life was good before and then overnight it went to hell. Now their lives are on hold while they try to find a job that will make them happy. Honestly, do you really expect him to accept a job serving tables or digging ditches next to some illegal immigrants? I feel for the guy in this article. He is the victim. What did he do wrong to deserve any of this? In fact, I think its some of you guys making these shameful disparaging comments at this man who should be put out on the street. Then you would know what its like.
What are his choices, realistically speaking: (1) hold out for a job of the status that he is accustomed to, which never arrives, get evicted from his home and start living in cardboard box under a bridge; (2) accept a job serving tables or digging ditches next to some illegal immigrants; or (3) what? This is like trading. You're long and wrong. What do you do? Maintain your position and go deeper in the hole and possibly blow your account, or cut your losses short and wait until the next killer setup?
Where are the ditch-digging jobs that would allow the worker to live in a simple home? Be real, the equivalent of digging ditches in the modern world is telemarketing or other similar commission-only sales. You don't even get minimum wage for your aggravation.
As an aside, Siemens is absolutely great to work for, I did for many years, they can go through 150 applicants for any job to get the talent... what's really messed up in the US is that all the focus is on "get a job" and you wind up working for some cheap assed morons that treat you like shit... when I went to work for Siemens on a Monday morning I took my brain with me and gave them the use of it all week long, after they sold the division to some horrible Americans that gutted the benefits program and froze pay I retired in place and studied trading until they fired me.. it was the best option I had...
Wait until Obama & his team impose the FTT trader tax! Then many traders may be forced into begging for any donkey job that pays nothing!
Being a 99er is hard - unless the guy really want to have the free time to do other stuff. It is much harder for the 1099er - freelance workers with no benefits. I can tell you there is no such job as digging ditches - machines had took away these jobs.