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This economy - 2/21/2009 11:59:09 PM   
SubLooking123


Posts: 2
Joined: 1/5/2009
Status: offline 		Just wanted some feedback on what everyone thinks of the economy.  How bad do you think things will get?  How long until things get better?
How has the downturn affected you?
Do you know anyone who has lost their job or their house?
Profile   Post #: 1
RE: This economy - 2/22/2009 12:04:53 AM   
PanthersMom


Posts: 2215
Joined: 11/26/2007
From: Cleveland Ohio
Status: offline 		almost every branch of my family has someone affected, either by hours being cut or jobs being eliminated through reorganization.  thank goodness no one has lost their house, but if things don't improve it could happen to anyone.  i'm afraid it's going to get alot worse before it gets better, we're doing too little too late.  we are affected in that the fixed income we have isn't going as far as it used to.  with four boys eating us out of house and home the biggest increase in expenses has been in the food budget, we've managed to keep other expenses in line, despite rising costs. 
PM

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RE: This economy - 2/22/2009 4:16:53 AM   
Lorr47


Posts: 862
Joined: 3/13/2007
Status: offline 		I think that things will become much worse and it would not surprise me if this mess lasted upwards of ten years.  I believe that in about a year they will announce that we have already been in a depression for a time.  I wish Obama the best of luck but he is fighting an uphill battle and will get little help from across the aisle.  I believe Obama is at least trying to help the citizens of the country although I disagree with some of the methods; giving hizzhonor the mayor of Grand Rapids the funds to build an amphitheater for $30,000,000 is at the top of my current list and I hope the screams to stop that boondoggle are heard.  We have cut spending to the bone.  With the latest proposal of Delphi in bankruptcy to terminate health insurance of retirees, about 15,000 are so depressed that I expect suicides to increase appreciably.  And, it has only just begun.

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RE: This economy - 2/22/2009 6:51:55 AM   
SpinnerofTales


Posts: 1586
Joined: 5/30/2006
Status: offline 		Just as a bit of an attempt to lighten things up in a bad situation, I want to share the best story I've heard about this current economic situation....


At a bit economic conference, a reporter from the Wall Street Journal is interviewing a very old, very wise, very respected economist. His first question is "If you had to describe the economy in one word, what would it be?"

The old economist thinks for a moment and says "Good"

"Good?" The reporter cries. "The banks are failing, the unemployment is soaring, the stock market is crashing, and you say good? What would you say if you had two words?"

The economist thinks for another second and says "NOT good!"


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RE: This economy - 2/22/2009 9:00:46 AM   
corysub


Posts: 1492
Joined: 1/1/2004
Status: offline
quote:

ORIGINAL: SpinnerofTales

Just as a bit of an attempt to lighten things up in a bad situation, I want to share the best story I've heard about this current economic situation....


At a bit economic conference, a reporter from the Wall Street Journal is interviewing a very old, very wise, very respected economist. His first question is "If you had to describe the economy in one word, what would it be?"

The old economist thinks for a moment and says "Good"

"Good?" The reporter cries. "The banks are failing, the unemployment is soaring, the stock market is crashing, and you say good? What would you say if you had two words?"

The economist thinks for another second and says "NOT good!"




  good one!

I see the economy getting much worse, and not because business conditions themselves are so bad at the moment.  True we are in a deepening recession..but 92 or 93% of people still have jobs..maybe 3-4% below what would be called a decent environment since we are never gonna get full employment other than a war...or socialism.  However, my concern is that we have a government that thrives on selling crisis...on selling the glass is have filled and those that are holding the empty part of the glass are doing so because the "wealthy class"...(read: small business owners working their asses off) are getting richer and the poor are getting poorer!
We have a government intent on penalizing success, and that does not do anything to engender confidence building. 
I have business in Bucks County, an area where people are still working...an unemployment rate of about 5.7%, well below the national average of 7.3%.  Yet, everyone coming into my stores is "worried"..."concerned".."confused"...and CUTTING BACK ON SPENDING!..not because they don't have the money..but because everytime the turn on the TV you have another pundit talking down the economy..you have politicians who have no clue talking about nationalizing the banks which will become a self-fulfilling prophesy, I have no doubt!  We have a President who is going to reward that guy on the your street who bought the big SUV, put in the pool for the kiddes, and redid the kitchen for the wife, and is now over his head because his interest only mortgage just went up 200%!..and, they are now going to have to bail this idiot out under Obama's plan.  It's not a plan we have for the economy...it's an "ideology"...the ideology of re-distribution of wealth from the responsible to the irresponsible....
And so, bottom line...fill the pantry with canned goods..oil the weapons, and just keep your head down...we are in for rough times ahead....at least that's how I feel  Been buying gold for years and no question in my mind it's going over $2,000 .. and maybe much higher during the next two years of suffering with a Pelosi and Reid led Congress, and four years with Obama.

Gonna do wonders for church attendance!  Can you go long the"Catholic Church"??

http://www.bls.gov/ro3/palaus.htm

< Message edited by corysub -- 2/22/2009 9:03:47 AM >

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RE: This economy - 2/22/2009 9:06:53 AM   
Lockit


Posts: 11292
Joined: 5/7/2007
Status: offline 		I am hoping for the best and preparing for the worst.  I do know some who have lost jobs, homes, spouses... the whole bit.  I am sure I will know more in the future.  How long it last's?  Who knows... but I do believe it will get far worse before it gets better and am conducting myself accordingly and only hope that my careful planning has protected my little family unit.

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RE: This economy - 2/22/2009 12:14:30 PM   
ThundersCry


Posts: 892
Status: offline 		I am semi retired so the majority of my income is in the bank the first of every month...
 
However...4 years ago I decided I had enough of that *to much time on my hands*...
 
I was working 3 dyas a week and could see it was noy going to be long till my hours were cut so...
 
I went and found another part time job...thats not to hard to figure...out.
 
Besides...I have never had a problem finding a job since I was 12...why sould it be in different in my 50`s...
 
Where theres a will theres a way...
 
I like to eat steak...

(in reply to SubLooking123)
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RE: This economy - 2/22/2009 1:15:34 PM   
awmslave


Posts: 599
Joined: 3/31/2006
Status: offline 		I just watched Glen Beck program at Fox News. With the help of experts he projected the probable future; how US will look like in 2014. The unemployment will be about 12 to 20%, the middle class has been mostly eliminated, the rich in big cities live in heavily guarded fortress-like gated communities, drug use, kinapping, theft and other crime are rampant. There will be so called BUBBA effect esp. in the interior of the country. BUBBA effect stands for Mad Max type closed survival communities guarded by private militias.

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RE: This economy - 2/22/2009 2:06:42 PM   
ThatDamnedPanda


Posts: 6060
Joined: 1/26/2009
Status: offline
quote:

ORIGINAL: awmslave

I just watched Glen Beck program at Fox News. With the help of experts he projected the probable future...


Wow. Sounds exciting. This should be good news for kinky people, because a lot of us already have Mad Max clothes. We'll hit the ground running.

One question though. Who were these experts?


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RE: This economy - 2/22/2009 2:25:37 PM   
awmslave


Posts: 599
Joined: 3/31/2006
Status: offline
quote:

One question though. Who were these experts?

Sorry, I do not remember names well. He had the economist Stephen Moore who is the Wall Street Journal economy writer, Homeland Security official, former military commander, survivalist. I watched the program today at Fox cable news. I guess they repeat it in the evening. It was called War Room "The Worst Case Scenario". Segments can also be seen at http://www.foxnews.com/video/index.html?CMP=KNC-YahooPI
Of course, we are taking about "The Worst Case Scenario" predictions; nobody can see the future.

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RE: This economy - 2/22/2009 2:26:23 PM   
TNstepsout


Posts: 1558
Joined: 8/3/2005
Status: offline 		I think we are in for a deep and prolonged recession and possibly a depression. I don't think it's going to get better soon. I think it will probably take a decade or more to really get back on track. The reason I think it's so bad is due to the depth and breadth of sectors affected. This has not been contained to one or two major sectors of our economy but has hit ALL of the largest and most critical areas.

It has only affected me personally in superficial ways. My company's income has been reduced so we have eliminated a few positions. (no one laid off- but if someone left they were not replaced) A few years ago the company owner was turning business away because we could not handle all of it, now we are bending over backward to please and keep the accounts we have. The overall atmosphere is a bit strained compared to past years.

However, as part of my job I talk to people everyday who are losing jobs, having wages cut, contracts terminated etc... One woman left a message last week and left her work # for a call back. She called back later that afternoon to leave her home # because she had just bee laid off! That really hit home.

Oh and on a personal note, my son had attempted to pawn him computer for some cash a while back but the pawn shops were full and no one would take it. I think it's a bad sign when pawn shops are full.

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RE: This economy - 2/22/2009 3:42:03 PM   
Vendaval


Posts: 10297
Joined: 1/15/2005
Status: offline 		Damn!  Pawn shops full of computers.  Definately not a good sign. 

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RE: This economy - 2/22/2009 4:00:41 PM   
ThatDamnedPanda


Posts: 6060
Joined: 1/26/2009
Status: offline
quote:

ORIGINAL: Vendaval

Damn!  Pawn shops full of computers.  Definately not a good sign. 


Well, look at it this way. it might cut down a bit on the trolling.

Seriously, no, this is yet another troubling omen. Not a good development when the pawn shops are stuck with so much inventory they can't take in any more. That not only means that people who pawn their property can't afford to pay off their loans, but people who traditionally hunt for deep discounts at pawn shops can't even afford to buy at fire sale prices anymore. Very troubling.


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RE: This economy - 2/22/2009 4:39:16 PM   
BeingChewsie


Posts: 1633
Joined: 10/27/2005
Status: offline
quote:

Just wanted some feedback on what everyone thinks of the economy.  How bad do you think things will get?  How long until things get better?
How has the downturn affected you?
Do you know anyone who has lost their job or their house?


We have only recently really started to notice it out here in Newport Beach, CA. Starting to see more places for rent, little boutiques closing up and so forth. Real estate prices right here at the beach are still out in the Ozone layer but we expect they will start to fall more this year. The high end restaurants that cater to the young millionaires( and there are MANY of them) out here are still packed, we waited 80 minutes to get into a great mexican place out here that is the new happening place. So some areas are still doing OK. We have had some serious losses this year but have a couple new start-ups going that are doing well so we feel things will only get better. There is plenty of money to be made in a recession and even in a depression. No, we don't know anyone who has lost their house, most of the people who know own their own businesses or own real estate that pays them mailbox money, we do know many have had to lay off people to streamline business and keep their cash flow going. We don't think it is close to over, the leading indicators we look at which deals with air cargo and importing goods still show deepening loss, not gains. So stores are not ordering lots of new stuff to sell which would indicate they see things improving looking 6 months out or so. We are focused on businesses that make money in the recession and out of one, when it ends isn't crucial to us but remaining profitable through it is.

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RE: This economy - 2/22/2009 4:46:33 PM   
BbwCanaDomme


Posts: 330
Joined: 5/22/2008
Status: offline
quote:

ORIGINAL: SubLooking123

Just wanted some feedback on what everyone thinks of the economy.  How bad do you think things will get?  How long until things get better?
How has the downturn affected you?
Do you know anyone who has lost their job or their house?



Well apparently the economy is sucking, but I'm still doing well, my family is still doing well, and while I know people who aren't working, because of our industry everyone's used to working a few months on, and then a few months off so it's not really having much of an effect. I've actually been getting a lot more work lately, the unemployment of other people is working out well for me haha

I have no complaints :)

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RE: This economy - 2/22/2009 4:57:18 PM   
DominantDamsel


Posts: 42
Joined: 5/14/2008
Status: offline 		I was terribly impacted by the rise of the cost of gas. Now that gas has come down, it's evening out for me to a degree, but I'm still in the hole by a couple hundred dollars a month due to inflation. Milk is five dollars a gallon. Groceries have increased in price to the point that I have seriously begun to attempt to supplement the food bill from my garden. It's helping some but I'm a novice gardener so I'm just learning how to grow things, and still have no experience with canning anything.

I haven't started looking for a job to supplement my business income. I hope there won't be trouble finding one but for many there seems to be. When the illegal immigrants are actually leaving our area to return to Mexico, that tells me something.

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RE: This economy - 2/22/2009 6:44:18 PM   
NormalOutside


Posts: 622
Joined: 1/8/2008
Status: offline
quote:

ORIGINAL: SubLooking123
Just wanted some feedback on what everyone thinks of the economy.  How bad do you think things will get?  How long until things get better?

Just one suggestion for you: stock up on protein powder.


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RE: This economy - 2/22/2009 6:58:33 PM   
Irishknight


Posts: 2016
Joined: 9/30/2007
Status: offline 		This economy is exactly what congress wanted. 

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RE: This economy - 2/22/2009 7:55:01 PM   
ThatDamnedPanda


Posts: 6060
Joined: 1/26/2009
Status: offline
quote:

?
quote:

ORIGINAL: DominantDamselWhen the illegal immigrants are actually leaving our area to return to Mexico, that tells me something.


Are you serious? Because if you are, there's almost a whole host of jokes in there. But it's too sobering to be funny.


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RE: This economy - 2/22/2009 8:10:57 PM   
defiantbadgirl


Posts: 2988
Joined: 11/14/2005
Status: offline
quote:

ORIGINAL: DominantDamsel
When the illegal immigrants are actually leaving our area to return to Mexico, that tells me something.


Illegal immigrants leaving the country? That's the best news I've heard yet. Now all we have to do is get rid of NAFTA. We need to get out of this global economy and start standing on our own again. Only then will this country be strong again.

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Only in the United States is the health of the people secondary to making money. If this is what "capitalism" is about, I'll take socialism any day of the week.


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