Thread: What Bad Economy?
#1 What Bad Economy?12-21-2008, 03:44 AM
Listening to the latest batch of fearmongering "explanations" from my boss (Bush) about why he's raping you and I with this Un-Constitutional vehicle bailout, I'm noticing something I wonder if anyone else is thinking.
These "teh sky is falling" types use phony economic data, even tried to say that 1 in 10 jobs are directly connected to Detroit and are in danger if the Big Three fail (which has been proved false) but they never Cry for me, Argentina over the slashing funding of defence contractors (which, by the way create more jobs in the short term than any of this other proposed spending) or say where this is going to end. Circuit City just went belly-up, is Bush going to bail them out next?
Not to mention, here's something I might be unpopular for saying; but does anyone else feel like the economy isn't that bad for them right now? I mean in a purely personal state, I feel the pinch of needing to tighten our belts in my family to make things as easy as possible on us, but things are far from drastic or terrible.
What do you think?"Don't vote. It only encourages the bastards." -PJ O'Roarke
12-21-2008, 04:04 AM
Well, directly the economy isn't hurting me. But I'm in the military, so I'm not really to worried about taking pay cuts or losing my job. My grandmother has been temporarily laid off (with the possibility of being able to return in the spring) by her company. Their an auto parts manufacturer that builds and supplies parts to the Big 3. Also, my mother is facing a job loss because tourism in NW Michigan just doesn't exist right now. The majority of the "big money spenders" who vacationed there where people in the auto-industry. With the belt being tightened by them, there are reprecussions felt a lot more far ranging then just the auto-industry. Even the Indian Casino's in Michigan are laying off nearly half of their staff (nearly 200 people at the one closest to my old home) due to the loss of revenue.
So I'd say yes, the economy is bad. Maybe not as much in California, or Florida, or other places far removed from the auto-industry, but it's most certainly devestating Michigan right now, and I'd wager other parts of the mid-west that are related to all of it.
12-21-2008, 05:55 AM
My wife was saying in Hawaii things are pretty rough, mainly in her life of work (bartending) because of a few reasons: 1. The majority of military units in Hawaii are deployed which is killing local businesses & 2. People have less disposable income to blow at eating establishments and bars as they once did. I'm just skeptical that things are truly as bad as people in the media & certain politicians are telling us they are.
I saw a news story today about holiday worries: basically they had on all these families telling sob stories how they couldn't afford to get their kids much for Christmas this year because of the economy and asking "How can I tell my kids?" It made me want to vomit. While it's sad, it's a fact of life. Your children should have your love and time with them to look forward to. Christmas isn't about stinking presents. You know how many MILLIONS of people wont even eat on Christmas? We've lost sight of what's important in life."Don't vote. It only encourages the bastards." -PJ O'Roarke
12-21-2008, 06:04 AM
There are gonna be a lot of families out there that are hurting. Unemployment rates are rising, and thats gonna have a lot of trickle down affects to just about everyone.
I guess we could be really grateful that gas prices took a huge drop like they did. Could you imagine how bad it would be if those prices had kept on going? Airlines probably woulda gone belly up left and right eventually, costing tens of thousands of jobs. The trucking business was almost brought to a stand still, and that is the backbone of America today.
12-21-2008, 09:29 PM
Yesterday at Macy's there were so many people using those $10 off $25 purchase coupons that the computers slowed to a crawl. There were lines of folks at all the customer service areas where they rang up the purchases. I gave up and left, not using all my coupons.
The parking lots were full and lots of people were carrying large shopping bags. I know it's bad, but perhaps some folks for their own reasons have embellished those doom and gloom stories.
12-21-2008, 09:50 PM
- Join Date
- May 2008
I think the economy is definitely in a slowdown. I expect it will get worse before it gets better. Right now my company is doing fine, but we are taking steps to prepare. We have more than doubled what we usually keep in reserve.
We are feeling the pinch a bit as people frequently dip into their stock plans to pay the fees. That is becoming more difficult for people to do as their investments are dwindling. Same goes for the retirements.
A lot of my clients are seeing either a downturn, or a flatness to their incomes. For me personally, it's a matter of storing up for the winter.
12-21-2008, 11:58 PM
- Join Date
- Apr 2006
- Items for Sale
For me, not much of an impact.
But I know a group of ladies that were all just laid off last week...most of them have kids and all made a very good wage...the question is...will they have to move to find work? Pulling kids out of schools? Moving is expensive, moving to a new city with children can be difficult when you are a single parent, etc...
Things are tough...but I get tired of hearing the words "bad economy" incorporated into every news story.
Last edited by RobJohnson; 12-22-2008 at 02:01 AM.
12-22-2008, 12:40 PM
My personal economy is doing great.
I got out of the market when the Dow was at 13400, so that didn't hit me.
I have quite a bit of cash on hand.
All of my rental properties are rented with long term leases, if Hussien raises my taxes, I raise their rents.
My company uses these "hard times" to clean out dead wood, and they are preparing for that. There was an uncommon number of "4" ratings on annual reviews this year. A "4" is a set up for being fired, a "5" would get you fired.
Around here, despite the closings of the brand new Circuit City, the brand new Mervyns and Linens and Things, people are doing a lot of shopping, traffic is heavy around the shopping areas.
My friend at Guitar Center said their sales were about 50% of what they were last year, so I guess people are buying more "sensible" gifts this year.
rm -rf obama*
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