|
Users viewing this topic:
none
|
|
|
[Poll]
|
Affected by economic "crisis"?
|
| Yes, I have gone from "OK" to "hurting" |
|
| No, life goes on as normal |
|
| Slightly (explain) |
|
Total Votes : 38
|
(last vote on : 10/15/2008 10:18:10 PM)
(Poll will run till: -- )
|
|
Login  | |
|
RE: Affected by economic "crisis"? - 10/11/2008 4:11:46 PM
|
|
|
Lizahana
Posts: 1072
Joined: 4/20/2005
Status: offline
|
quote:
ORIGINAL: ManimalX
quote:
ORIGINAL: Lizahana
Um, well, I just saw my 401K plummet 30%. My husband's workplace has laid off 10 people in the last week. My workplace laid off 4 people (it's smaller) and where I work is pretty slow as well. Perhaps you own 9 house as well? 
To insinuate that things are fine and dandy is totally disrespectful for those who have lost their jobs; people who were about to retire,but can't because they lost A LOT of their retirement thru the loss of their 401K....the people that were laid off that both my husband and I know have families! You didn't read about people being evicted because the person who owned the house didn't make payments?! Please! ...but, keep drinking the 'the fundamentals of our economy are sound' koolaid that McCain said only weeks ago! Oh, wait, I guess McCain sold one of his 9 houses, so he came out and said it is now an economic crisis! Whew! Now it's down to 8 houses...wow, what I crisis for him, eh?!
I guess your motto must be...'leave 'em to Heaven, we're doing fine!' ?
Peace and God bless,
Lizhana, why are your posts always so angry and accusatory? And then you close with, "Peace and God Bless" 
I have no diabolical purpose as you seem to believe. I am not "insinuating" anything maliciously. I am merely asking questions. I have a large family and many friends spread out over 5 states. Just my family: Mom and step-dad, Dad and step-mom, 4 brothers, 4 sister-in-laws, 2 sisters, 2 bro-in-laws, 20 or so nieces and nephews, not to mention grandparents, and dozens of aunt, uncles, and close cousins.
Not ONE person is suddenly having financial woes because there is this supposed "crisis". Some 401k values dropped, but not beyond the possibility of recovering (many of them already are). This is the extent of the effect of the "crisis" through the large number of people I know.
I keep saying "crisis" in quotes, because even though I can't turn on a news channel or talk radio station without hearing about the "economic crisis", I can't find any actual evidence of anything but a small speed bump. That is the reason I am asking, to see if I am missing something. I see people losing houses that they couldn't afford in the first place. That isn't necessarily a bad thing, as they can now get into a place to live that is actually not above their means. My next door neighbors had an ARM that ballooned, and they had to move out and start renting somewhere. While I was sorry to see good neighbors go, the fact was that with the jobs they had they shouldn't have bought a house in this neighborhood. I don't know anyone who is out of a job. I don't know anyone who is suddenly broke. I know many people who are buying luxury items like new TVs. I am going to buy a new gun next week and I just bought Iron Man on DVD, LEGO Batman to play with the kids on the 360, and placed my pre-orders for the COD 5 and Fallout 3 games.
And, before I get accused of being an evil rich person, I make about 50k/year and my wife works on the weekends. We don't live off of credit cards and my wife has us on a responsible budget.
Since you say you know people that have lost their jobs, can you specify? What kind of jobs were they, and were they directly effected by the credit slow down?
Because, I don't like it when people, like McCain did, say that people are not suffering because they are.
You call this a small bump? I'm going to paste something from the post above - just a warning - be prepared:
I don't know if you're aware of this or not, but the drops in the past week have been the worst since 1933:
"U.S. Stocks Tumble, Sending S&P 500 to Worst Drop Since 1933
By Eric Martin
Oct. 11 (Bloomberg) -- U.S. stocks plunged, sending the Standard & Poor's 500 Index to its worst week in 75 years, on concern the credit crisis will spread from banks to consumer companies and energy producers, triggering a global recession.
Financial firms in the S&P 500 fell to an almost 12-year low, led by Morgan Stanley, on speculation they're running short of money as lending markets freeze. General Motors Corp. and Ford Motor Co. slid more than 45 percent as S&P said the carmakers may be forced into bankruptcy. Exxon Mobil Corp., the largest energy company, lost a fifth of its value as oil prices dropped below $78 for the first time in a year.
The S&P 500 dropped 200.01, or 18 percent, to 899.22, the lowest since April 2003. The Dow Jones Industrial Average lost 1,874.19 points, or 18 percent, to 8,451.19 for the biggest weekly slide in the history of the 30-stock index. The Russell 2000 Index of small-company stocks fell 96.92, or 16 percent, to 522.48. The MSCI World Index of 23 developed countries lost 20 percent, the most since records began in 1970. ..."
http://www.bloomberg.com/apps/news?pid=20601103&sid=a5TmAvb4NL9k&refer=us
And, here's a little hint - there are no more investment banks on Wall Street for the first time since the depression. But, nice try, sugar coating everything!
My husband and I own a home - we are way ahead in our payments - we have 30-year fixed mortgage where you are not punished by points if you pay ahead - if you do pay ahead, it goes to your principal. We were advised to pay ahead in the beginning, we did, and now we are 8 years ahead in our mortgage (it was fun to skip all the amortization sheets!). We also have no car payments; we pay our entire credit card bills each month; and the only debt we have is our mortgage. We believe in paying cash on the barrel. We have 401Ks and we bought whole life insurance so that we're not relying on stocks for our retirement. We are far from retiring. So we are fine. However, I know many that are not.
Dude - I work in software & 3 salespeople and 1 programmer got laid off. My husband is in tool and die - 10 people got laid off. This has been in the last 2 weeks - month. They are related to the economic mess that Bush has gotten us into.
Peace and God bless,
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 5:25:01 PM
|
|
|
_jjp_
Posts: 483
Joined: 10/25/2007
Status: offline
|
quote:
ORIGINAL: LizahanaPeople are losing jobs at a much faster rate now.
Proof please, the few people that you know that lost jobs don't count.
quote:
I don't know if you're aware of this or not, but the drops in the past week have been the worst since 1933:
And? I have already aditted that if you are about to retire this could be a bad thing but if you are about to retire you should have already moved your money to less risky investments. I stated earlier that for those who wanted to retire this is damaging to them.
quote:
Do you know what this means? Job losses like we are seeing and I bet there are more to come. But, nice try, sugar coating everything!
Peace and God bless,
Once again back those statements.
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 5:33:15 PM
|
|
|
IMA_CHRISTIAN
Posts: 1671
Joined: 1/23/2006
Status: offline
|
quote:
ORIGINAL: Lizahana
Um, well, I just saw my 401K plummet 30%. My husband's workplace has laid off 10 people in the last week. My workplace laid off 4 people (it's smaller) and where I work is pretty slow as well. Perhaps you own 9 house as well?
To insinuate that things are fine and dandy is totally disrespectful for those who have lost their jobs; people who were about to retire,but can't because they lost A LOT of their retirement thru the loss of their 401K....the people that were laid off that both my husband and I know have families! You didn't read about people being evicted because the person who owned the house didn't make payments?! Please! ...but, keep drinking the 'the fundamentals of our economy are sound' koolaid that McCain said only weeks ago! Oh, wait, I guess McCain sold one of his 9 houses, so he came out and said it is now an economic crisis! Whew! Now it's down to 8 houses...wow, what I crisis for him, eh?!
I guess your motto must be...'leave 'em to Heaven, we're doing fine!' ?
Peace and God bless,
hi -yes but the ONLY concern in this one poster's post in another topic is that Obama is muslim, and does not care about money. They just dont get it, do they. I am sure if he was on the bread line for 2 hours like in the Depression of 1930, he might change his tune when he smells the nice pot roast cookin in some rich person's house that benefitted from mccain.
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 5:38:07 PM
|
|
|
ManimalX
Posts: 1270
Joined: 10/25/2005
Status: offline
|
Liz:
I understand there are some unfortunate stories out there, but trying to compare this to THE Depression... I'm looking, but I don't see it. I am not "sugarcoating" anything, I am just looking around "main street" and I don't see any pieces of the sky that is supposedly falling....
_____________________________
"But the day of the Lord will come like a thief, and then the heavens will pass away with a roar, and the heavenly bodies will be burned up and dissolved, and the earth and the works that are done on it will be exposed." - 2nd Peter 3:10
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 9:57:47 PM
|
|
|
garsyt
Posts: 2237
Joined: 4/12/2005
From: the bottom of the laundry basket
Status: offline
|
quote:
ORIGINAL: _jjp_
quote:
ORIGINAL: LizahanaPeople are losing jobs at a much faster rate now.
Proof please, the few people that you know that lost jobs don't count.
quote:
I don't know if you're aware of this or not, but the drops in the past week have been the worst since 1933:
I don't have exact numbers - But I know GM plants in Ohio and Michigan have closed. And that means their suppliers will also suffer and ended up either closing or downsizing. I know when the GM plant near us even goes to a temporary layoff that it affects their suppliers in neighboring towns and cities causing some of them to layoff workers and sometimes stop production as well.
Indiana - where I live, has a pretty low unemployment rate when it comes to national averages and I know that it has gone up in the last 6 months of this year. If people aren't working they aren't buying, even near what they were when they were working, thus stores and manufacturers are making fewer sales.
Hubby's work place just announced a layoff a week ago of 40 people to go into affect on the 20th of this month.
Two other manufacturers in a nearby city have laid off at least this lately and two more have closed their doors for good - leaving at least 300 people that were making at least $13 an hour out of work, and sometimes both parents in a family were affected, bring a family income of $26 dollars an hour down to NOTHING really fast. Sure there's unemployment but that as we all know is not nearly enough.
And I know of very few places that are actually hiring at this time. The new Target in our area and maybe one new orthopedic manufacturer in a city about 30 miles north of us.
Blessings,
Garsy
_____________________________
My Blog: www.moredayslikethisplease.wordpress.com
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:15:14 PM
|
|
|
Lizahana
Posts: 1072
Joined: 4/20/2005
Status: offline
|
quote:
ORIGINAL: _jjp_
quote:
ORIGINAL: LizahanaPeople are losing jobs at a much faster rate now.
Proof please, the few people that you know that lost jobs don't count.
quote:
I don't know if you're aware of this or not, but the drops in the past week have been the worst since 1933:
And? I have already aditted that if you are about to retire this could be a bad thing but if you are about to retire you should have already moved your money to less risky investments. I stated earlier that for those who wanted to retire this is damaging to them.
quote:
Do you know what this means? Job losses like we are seeing and I bet there are more to come. But, nice try, sugar coating everything!
Peace and God bless,
Once again back those statements.
1) "U.S. unemployment rate hits 6.1%, highest level in five years
Employers slashed 84,000 jobs in August, steeper cuts than analysts expected.
By Maura Reynolds, Los Angeles Times Staff Writer
September 6, 2008
WASHINGTON -- The economy shoved its way to the front of the presidential campaign once again, as the nation's jobless rate shot to a five-year high -- escalating fears that the country is spiraling into a full recession.
The unexpected jump in unemployment -- from 5.7% in July to 6.1% in August -- provided prime fodder for both presidential nominees as the fall campaign season kicked into high gear. But with a Republican now in the White House, analysts said the news would give Democrat Barack Obama an edge over Republican John McCain. ..."
http://www.latimes.com/business/la-fi-economy6-2008sep06,0,3438869.story?track=rss
This does not even include the period where people I know experienced layoffs - they will be in the next 'job loss' report. My husband, though he survived the 2 previous layoffs this last month that laid off 10 people, is going to start looking for another job. He has worked for the same business for over 10 years, and has never seen it so slow. Where I work, they have never had layoffs until this year, and they laid off 4 people.
And again - the banks are not lending very much anymore - this is going to add to the burden, especially in small businesses, who sometimes need the short-term just to pay payrolls.
2) And as far as the Dow drop - again, it's the largest since the depression; and it was the worst weel ever since the stock exchange - as clearly stated from Bloomberg link I posted.
Many people see this as bad news - if you don't, well, all I can say is ignorance is bliss.
Peace and God bless,
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:18:21 PM
|
|
|
Lizahana
Posts: 1072
Joined: 4/20/2005
Status: offline
|
quote:
ORIGINAL: IMA_CHRISTIAN
quote:
ORIGINAL: Lizahana
Um, well, I just saw my 401K plummet 30%. My husband's workplace has laid off 10 people in the last week. My workplace laid off 4 people (it's smaller) and where I work is pretty slow as well. Perhaps you own 9 house as well?
To insinuate that things are fine and dandy is totally disrespectful for those who have lost their jobs; people who were about to retire,but can't because they lost A LOT of their retirement thru the loss of their 401K....the people that were laid off that both my husband and I know have families! You didn't read about people being evicted because the person who owned the house didn't make payments?! Please! ...but, keep drinking the 'the fundamentals of our economy are sound' koolaid that McCain said only weeks ago! Oh, wait, I guess McCain sold one of his 9 houses, so he came out and said it is now an economic crisis! Whew! Now it's down to 8 houses...wow, what I crisis for him, eh?!
I guess your motto must be...'leave 'em to Heaven, we're doing fine!' ?
Peace and God bless,
hi -yes but the ONLY concern in this one poster's post in another topic is that Obama is muslim, and does not care about money. They just dont get it, do they. I am sure if he was on the bread line for 2 hours like in the Depression of 1930, he might change his tune when he smells the nice pot roast cookin in some rich person's house that benefitted from mccain.
Agreed - I don't think they do get it. I'm doing fine, but I know many others are not. I'm not going to pretend those who are suffering, are not there.
Obama has stated he is a Christian and I take him on his word, just as I do everyone on these boards that I do not know personally, either.
Peace and God bless,
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:26:31 PM
|
|
|
letusreason
Posts: 831
Joined: 8/30/2008
Status: offline
|
quote:
ORIGINAL: Lizahana
Dude - I work in software & 3 salespeople and 1 programmer got laid off. My husband is in tool and die - 10 people got laid off. This has been in the last 2 weeks - month. They are related to the economic mess that Bush has gotten us into.
Peace and God bless,
What do you think will happen if Obama gets in there and takes a hatchet to the corporations and then puts thumbscrews on small businesses??
Any ill effects you see going on now will get amplified 10x.
God bless and Peace
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:34:32 PM
|
|
|
Lizahana
Posts: 1072
Joined: 4/20/2005
Status: offline
|
quote:
ORIGINAL: letusreason
quote:
ORIGINAL: Lizahana
Dude - I work in software & 3 salespeople and 1 programmer got laid off. My husband is in tool and die - 10 people got laid off. This has been in the last 2 weeks - month. They are related to the economic mess that Bush has gotten us into.
Peace and God bless,
What do you think will happen if Obama gets in there and takes a hatchet to the corporations and then puts thumbscrews on small businesses??
Any ill effects you see going on now will get amplified 10x.
God bless and Peace
Letusreason,
Trickle down economics may have worked under Reagan, but it certainly does not work under Bush.
Here's a link you may, may not be interested, depending on your bias level:
"McCain's Small-Business Bunk
July 14, 2008
He claims 23 million small-business owners would pay higher tax rates under Obama. He's wrong. The vast majority would see no change, and many would get a cut.
Summary
McCain has repeatedly claimed that Obama would raise tax rates for 23 million small-business owners. It's a false and preposterously inflated figure.
We find that the overwhelming majority of those small-business owners would see no increase, because they earn too little to be affected. Obama's tax proposal would raise rates only on couples making more than $250,000 or singles earning more than $200,000.
McCain argues that Obama's proposed increase is a job-killer. He has a point. It's true that increasing taxes on those at the top would leave them less money for other purposes, including investment and hiring in the case of business owners. But the number of business owners who would see their rates go up would be only a small fraction of what McCain says. Many would see their taxes go down... "
http://www.factcheck.org/elections-2008/mccains_small-business_bunk.html
Please note the footnotes, sources at the end.
Peace and God bless,
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:35:18 PM
|
|
|
GregandJenny
Posts: 616
Joined: 2/16/2006
From: Near Seattle Washington
Status: offline
|
quote:
And, here's a little hint - there are no more investment banks on Wall Street for the first time since the depression. But, nice try, sugar coating everything!
Pride commeth before the fall. When greed gets in the way this is what happens.
_____________________________
It does not have to be well with my circumstance to be well with my soul!
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:35:44 PM
|
|
|
Lizahana
Posts: 1072
Joined: 4/20/2005
Status: offline
|
quote:
ORIGINAL: ManimalX
Liz:
I understand there are some unfortunate stories out there, but trying to compare this to THE Depression... I'm looking, but I don't see it. I am not "sugarcoating" anything, I am just looking around "main street" and I don't see any pieces of the sky that is supposedly falling....
I posted why, and apperently you don't agree so let's agree to disagree.
Peace and God bless,
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:39:31 PM
|
|
|
Lizahana
Posts: 1072
Joined: 4/20/2005
Status: offline
|
quote:
ORIGINAL: garsyt
quote:
ORIGINAL: _jjp_
quote:
ORIGINAL: LizahanaPeople are losing jobs at a much faster rate now.
Proof please, the few people that you know that lost jobs don't count.
quote:
I don't know if you're aware of this or not, but the drops in the past week have been the worst since 1933:
I don't have exact numbers - But I know GM plants in Ohio and Michigan have closed. And that means their suppliers will also suffer and ended up either closing or downsizing. I know when the GM plant near us even goes to a temporary layoff that it affects their suppliers in neighboring towns and cities causing some of them to layoff workers and sometimes stop production as well.
Indiana - where I live, has a pretty low unemployment rate when it comes to national averages and I know that it has gone up in the last 6 months of this year. If people aren't working they aren't buying, even near what they were when they were working, thus stores and manufacturers are making fewer sales.
Hubby's work place just announced a layoff a week ago of 40 people to go into affect on the 20th of this month.
Two other manufacturers in a nearby city have laid off at least this lately and two more have closed their doors for good - leaving at least 300 people that were making at least $13 an hour out of work, and sometimes both parents in a family were affected, bring a family income of $26 dollars an hour down to NOTHING really fast. Sure there's unemployment but that as we all know is not nearly enough.
And I know of very few places that are actually hiring at this time. The new Target in our area and maybe one new orthopedic manufacturer in a city about 30 miles north of us.
Blessings,
Garsy
I'm so sorry to hear this - I will pray for you and your friends, family. My husband survived 2 rounds of layoffs, but he's already started looking because he says it's slowest he's ever seen it in the 10+ years he's worked there. Where I work, they have never had layoffs before, and recently laid off 4 people (it's smaller than where my husband works).
It's in God's hands - all we can do is pray.
Peace and God bless,
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:40:06 PM
|
|
|
letusreason
Posts: 831
Joined: 8/30/2008
Status: offline
|
quote:
ORIGINAL: Lizahana
We find that the overwhelming majority of those small-business owners would see no increase, because they earn too little to be affected. Obama's tax proposal would raise rates only on couples making more than $250,000 or singles earning more than $200,000.
THIS IS PLAIN CRAZY!! And that is all I have heard on every talk radio station from people calling in (NOT THE HOSTS) and people I've talked to that there are tons of small businesses making more than 250,000. I am working for one right now!! We have 10 empolyees and make about 1 mil.
Where does he get the idea most small businesses make less than this? He talking about shareware companies on the web??
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:41:22 PM
|
|
|
Lizahana
Posts: 1072
Joined: 4/20/2005
Status: offline
|
quote:
ORIGINAL: GregandJenny
quote:
And, here's a little hint - there are no more investment banks on Wall Street for the first time since the depression. But, nice try, sugar coating everything!
Pride commeth before the fall. When greed gets in the way this is what happens.
?
Peace and God bless,
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:43:46 PM
|
|
|
ManimalX
Posts: 1270
Joined: 10/25/2005
Status: offline
|
quote:
ORIGINAL: Lizahana
quote:
ORIGINAL: ManimalX
Liz:
I understand there are some unfortunate stories out there, but trying to compare this to THE Depression... I'm looking, but I don't see it. I am not "sugarcoating" anything, I am just looking around "main street" and I don't see any pieces of the sky that is supposedly falling....
I posted why, and apperently you don't agree so let's agree to disagree.
Peace and God bless,
I guess we will have to. The Great Depression was a horrible time where "a piece of bread could buy a bag of gold". We aren't even in a defined recession here. Could it happen? I don't think so, but I will be the first to admit that I am not an economist. If the sky really is falling, then I am glad I am at least well prepared: I've go my .30.30 for deer, my 12-gauge for bird, and my .22 for dogs cats and wabbits  Maybe I need to buy a few more cases of ammo before my money is useless.
_____________________________
"But the day of the Lord will come like a thief, and then the heavens will pass away with a roar, and the heavenly bodies will be burned up and dissolved, and the earth and the works that are done on it will be exposed." - 2nd Peter 3:10
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:46:00 PM
|
|
|
GregandJenny
Posts: 616
Joined: 2/16/2006
From: Near Seattle Washington
Status: offline
|
I just think some of the problem is that these big banks thought they were high and mighty and got greedy and wall street was untouchable, we are not seeing what happens.
I also think we need to remember that it was just 1 year ago that the Market was at it's peak and in 2003 it was lower than it was now. Hmmm
_____________________________
It does not have to be well with my circumstance to be well with my soul!
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:48:16 PM
|
|
|
rgsoundguy
Posts: 398
Joined: 4/12/2005
From: Pottstown, PA
Status: offline
|
I have been affected slightly in that I am getting a lot of overtime. I work for an electric utility company and the economy being the way it is, people aren't paying their electric bills. The result, we are performing extra cuts.
_____________________________
Albert Einstein said that insanity is doing the same thing over and over again and expecting different results. That convinces me that our nation is insane because we continually elect republicans and democrats expecting change and get none.
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:49:58 PM
|
|
|
Lizahana
Posts: 1072
Joined: 4/20/2005
Status: offline
|
quote:
ORIGINAL: ManimalX
quote:
ORIGINAL: Lizahana
quote:
ORIGINAL: ManimalX
Liz:
I understand there are some unfortunate stories out there, but trying to compare this to THE Depression... I'm looking, but I don't see it. I am not "sugarcoating" anything, I am just looking around "main street" and I don't see any pieces of the sky that is supposedly falling....
I posted why, and apperently you don't agree so let's agree to disagree.
Peace and God bless,
I guess we will have to. The Great Depression was a horrible time where "a piece of bread could buy a bag of gold". We aren't even in a defined recession here. Could it happen? I don't think so, but I will be the first to admit that I am not an economist. If the sky really is falling, then I am glad I am at least well prepared: I've go my .30.30 for deer, my 12-gauge for bird, and my .22 for dogs cats and wabbits Maybe I need to buy a few more cases of ammo before my money is useless.
Cool. I really pray it's not headed that way - but they have said that it was the wost week on the stock index since it's history. There are no such things as investment banks on Wall St anymore - this is a first since it's inception. If it's harder to borrow, it's harder to run a business. If it's harder to run a business, they will not hire, or layoff. I fear we may be seeing just the tip of the iceberg.
And again, I'm doing fine - thanks to my husband!) We are way ahead in our mortgage, invested in stocks (not so good right now, but we're not retiring so we'll be ok - those that are retiring, I pray for them) and whole life insurance; we have no car payments. We live well below our means. However, I am not going to ignore the many others out there who are suffering - I will not turn away from them.
Peace and God bless,
PS I forgot - don't really understand the last part of your post, so I just did not address it.
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:50:19 PM
|
|
|
letusreason
Posts: 831
Joined: 8/30/2008
Status: offline
|
quote:
ORIGINAL: GregandJenny
I just think some of the problem is that these big banks thought they were high and mighty and got greedy and wall street was untouchable, we are not seeing what happens.
Yea i liked it before when the banks weren't greedy and they gave out free money , those were good times!
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 10:51:29 PM
|
|
|
rlj
Posts: 2191
Joined: 4/14/2005
Status: offline
|
quote:
I understand there are some unfortunate stories out there, but trying to compare this to THE Depression... I'm looking, but I don't see it. I am not "sugarcoating" anything, I am just looking around "main street" and I don't see any pieces of the sky that is supposedly falling....
You won't see it, that is why we just passed the $700,000,000,000 bailout plus that economic stimulus check. Government came through this time and saved us. :D
_____________________________
-Roger
This is who I'm voting for. He is from the same party I voted for last time. This is consistent with my belief in the failure of the two party system and my disgust with it.
http://www.baldwin08.com/#
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 11:28:38 PM
|
|
|
3cappuccinosmom
Posts: 2528
Joined: 4/12/2005
Status: online
|
I voted "slightly" (affected, that is).
We are financially in a much better position than we were in 5 years ago. Debt free, income has steadily (albeit slowly) risen, cars owned outright, investment properties owned outright and pulling in rent. I am *glad* we moved all of what was in the markets to real estate investments. We did see dh's retirement take a dip, but he is decades from retirement at this point.
However, we have been affected somewhat. Gasoline and grocery bills have absolutely gone up and started to pinch our budget. We are able to live comfortably because we are debt free, but it is still painful to be paying $200/month for gasoline and topping $350/month to feed our smallish family. For me especially the grocery increase has been particularly noticeable. What last year what I bought today wouldn't have topped $35, and today it was closer to $60. There have been a few times in the last couple of months when I nearly cried when I got to the register realized that my carefully planned list had failed to account for the rapid price increases. (and this is due to the fact that my mental price-list for our grocery stores hasn't quite kept up with the increases as it should have)  Every increase in consumable items means less money in savings, and thus more worry about potential emergencies, or maintenance on our rental properties. I am totally not looking forward to our first cold weather gas bill. That one is going to hurt.
However, I tend to agree with the OP. A lot of the crisis is because as a nation we were living beyond our means. As painful as it may be, I wonder if such a correction and wake up call isn't necessarily such a bad thing.
_____________________________
 Moo
Shameless Self Promotion~Christmas giveaway this week!
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/11/2008 11:37:40 PM
|
|
|
garsyt
Posts: 2237
Joined: 4/12/2005
From: the bottom of the laundry basket
Status: offline
|
quote:
ORIGINAL: Lizahana
quote:
ORIGINAL: garsyt
quote:
ORIGINAL: _jjp_
quote:
ORIGINAL: LizahanaPeople are losing jobs at a much faster rate now.
Proof please, the few people that you know that lost jobs don't count.
quote:
I don't know if you're aware of this or not, but the drops in the past week have been the worst since 1933:
I don't have exact numbers - But I know GM plants in Ohio and Michigan have closed. And that means their suppliers will also suffer and ended up either closing or downsizing. I know when the GM plant near us even goes to a temporary layoff that it affects their suppliers in neighboring towns and cities causing some of them to layoff workers and sometimes stop production as well.
Indiana - where I live, has a pretty low unemployment rate when it comes to national averages and I know that it has gone up in the last 6 months of this year. If people aren't working they aren't buying, even near what they were when they were working, thus stores and manufacturers are making fewer sales.
Hubby's work place just announced a layoff a week ago of 40 people to go into affect on the 20th of this month.
Two other manufacturers in a nearby city have laid off at least this lately and two more have closed their doors for good - leaving at least 300 people that were making at least $13 an hour out of work, and sometimes both parents in a family were affected, bring a family income of $26 dollars an hour down to NOTHING really fast. Sure there's unemployment but that as we all know is not nearly enough.
And I know of very few places that are actually hiring at this time. The new Target in our area and maybe one new orthopedic manufacturer in a city about 30 miles north of us.
Blessings,
Garsy
I'm so sorry to hear this - I will pray for you and your friends, family. My husband survived 2 rounds of layoffs, but he's already started looking because he says it's slowest he's ever seen it in the 10+ years he's worked there. Where I work, they have never had layoffs before, and recently laid off 4 people (it's smaller than where my husband works).
It's in God's hands - all we can do is pray.
Peace and God bless,
Actually Liz, hubby missed the layoff's this time around. They are laying off 40 and he was number 38 from the bottom. 3 people either had to take early retirement or voluntary layoff and he would be spared. Hubby said that so far 5 folks have taken early retirement and several more are taking voluntary. Thanks to those 5 that took early retirement he was spared!
Garsy
_____________________________
My Blog: www.moredayslikethisplease.wordpress.com
|
|
|
|
|
RE: Affected by economic "crisis"? - 10/12/2008 12:13:14 AM
|
|
|
ManimalX
Posts: 1270
Joined: 10/25/2005
Status: offline
|
Liz: Regarding the last part of my post, I was just joking that if we do go into Great Depression II, I have the different guns necessary to hunt food for my family to eat :) Deer, pheasant, dove, cats, dogs, wabbits... whatever. I live right between the "amber waves of grain" and the "purple mountain's majesty" here in northern Colorado (that is, between the eastern grasslands and the western Rocky Mountains), within easy range of a lot of wild game of all sorts.
That was all :)
_____________________________
"But the day of the Lord will come like a thief, and then the heavens will pass away with a roar, and the heavenly bodies will be burned up and dissolved, and the earth and the works that are done on it will be exposed." - 2nd Peter 3:10
|
|
|
|
|
Forum Tools
Printable Version
