Foreclosed Economy Puts a Dad in Natick on to a New Path

The foreclosed economy has put a dad in Natick City, Massachusetts on to a new path. Each day figures and statistics are rolling in about persons unemployed and houses foreclosed but something else is happening – the minds of people, for better or worse are changing. While some have become frustrated and dangerously angry there are others that have started to look at life from a different understanding angle.

One of them is Joe Fox. He talks of a new age where the mantra is “10% less of everything”. They are the struggling people trying to make ends meet with this new formula. Fox continues to operate his firm – Fox Media Lab while giving time to a book. Sometimes he snatches the hours during his overnight shift working as concierge or while hanging around for a passenger. Fox is the father of four from Natick.

He takes everything in his stride – it is not in his genes to be worried. One day the cloud will clear. Meanwhile his thoughts reach out to an entire class who have lost their employment and do not know the key to coming back. In some cases there is no key. The job scenario has changed dramatically since the first tremors of the economic downturn. The positions they held previously have all vanished.

Fox was threatened by foreclosure by Washington Mutual. Then WaMu itself went down the well. He can narrate the exact day of the fall. He was finalizing a deal (Russian firm) regarding Internet operations. While on the phone the stock market tumbled by 700 points calling off all bets. He can recount how his credit lines were cut off and how he is .

Repaying his debts on bills in small doses finally helping him to save the home for the family even though the value of the property is less than what he paid for it.

He can recall his experiences as an odd job worker – rolling sleeves working in a liquor shop or driving taxis. He quips and adds, “I’m curing illegal immigration because I’m taking all the jobs”. It is driving the cab that has given him an insight into the lives of people – inspiring him to take up the pen and write a book.