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the economy hurts right now, so bad......





evilryu530
so yea, my company laid off 50% of the staff, like 100 people, friends gone from there too. i've been pinched hard, this economy sucks, been cutting back on food gas, living basically to get by...what have you guys been doing to survive the slowing economy? dont see a healthy sign of the economy any time soon. and i mean the united states economy is what im talking about.
standready
I own to my company. I have no full time employees. I need to run the business lean. I contract help when needed. That way when things slow down, I don't have to lay anyone off except myself. I have been laid-off too many times in the past by companies I worked for.
SilverWater
This US economy is ridiculous. Its so hard to do anything. All the money I have goes up in fumes, gas that is. I can't really cut down on anything when I have to commute everyday. You can save alot on power bills though. I've learned a couple of money savers for that. I knida think that a recession would be good for the country.
Liu
I'm an IT consultant, and the amount of work that we've been receiving has definitely been going down because of it. Many other companies around us have been laying off their employees and trying to apply for jobs here.

My stocks have been plummeting.

Tough times.

Gas prices are supposed to rise to about $4/gal here in CA sometime soon this year.
BigMo420
I'm making more money than ever before. So is my wife. Work is piling up faster than we can get it out. We can't find employees. Damn that 5% unemployment.

Yeah, it's rough out there. Rolling Eyes
hunnyhiteshseth
Since I am not living in US it is not affecting me much but I think it will have some effect in future.

But currently I am doing nothing about it. Its upto government to do something about it.
Insanity
You can blame George Bush for his trillion dollar war that has been going on for years and years now. Thank God we have less than a year left for him before the next president hopefully changes things around for the better.
misterXY
Canada is booming Very Happy
BigMo420
Insanity wrote:
You can blame George Bush for his trillion dollar war that has been going on for years and years now. Thank God we have less than a year left for him before the next president hopefully changes things around for the better.


Not that I support GW Bush, but that's the most ignorant statement I've heard all week.
raine dragon
That absolutely sucks. I'm a student, so it is a bit different for me. I tend to buy whatever food is cheapest already and I take the public bus since my school ID works as a bus pass. I guess I'm quite lucky. ^^;
b4r4t
I live in Poland ... for us US economy is only important for ppl which have their cash located somewhere like GPW (Warsaw Stock Exchange) ... or such things like locates (maclers are investing Your cash)...
I have some $ located in such way and I still watching like % are falling down ...
USA economy is HUGE that's why if USA have problems - almost whole europe have problems ...
friuser
BigMo420 wrote:
Insanity wrote:
You can blame George Bush for his trillion dollar war that has been going on for years and years now. Thank God we have less than a year left for him before the next president hopefully changes things around for the better.


Not that I support GW Bush, but that's the most ignorant statement I've heard all week.


How is your statement not the most ignorant statement? If the us economy is weak, how can you finance a billion dollar a day war thats going on?
Arnie
Insanity wrote:
You can blame George Bush for his trillion dollar war that has been going on for years and years now. Thank God we have less than a year left for him before the next president hopefully changes things around for the better.
And I thought the Bush bashers were saying he only went into a war to get American companies big rebuiling contracts, e.g. he went into the war not for righteousness, but for $$?
KronikSindrome
yeah but my place of work still makes money
people may be broke but they find a way to
pay for their vibrators and lubrication

have i mentioned lately that i love my job? Very Happy
BigMo420
friuser wrote:
BigMo420 wrote:
Insanity wrote:
You can blame George Bush for his trillion dollar war that has been going on for years and years now. Thank God we have less than a year left for him before the next president hopefully changes things around for the better.


Not that I support GW Bush, but that's the most ignorant statement I've heard all week.


How is your statement not the most ignorant statement? If the us economy is weak, how can you finance a billion dollar a day war thats going on?


For one thing, the US economy isn't as bad as the media wants you to believe. Not to mention the fact that the largest single day increase in the Dow Jones just happened, and unemployment is STILL at near record lows, and while the housing market took a hit by greedy loan agents basically approving anyone that walks, it is finally getting it's much needed correction.

War has always been good for the US economy. It brought them out of the great depression decades ago, and it has prevented one for the last 7 years.

If Democrats get the White House with a black man, they will do more damage to the US than ever before, and it will take generations to fix it, and they will make sure that another black president is never elected. Gee, I guess Obama isn't all bad. Laughing
ddoonie
That was quite ignorant...

Anyways, the housing market IS a leading indicator to the future of the economy. Highest foreclosure rates ever... Last thing people will give up is their home, therefore all their other credit is already screwed, next step is bankruptcy. Banks eat the bills, and leads to things such as JP Morgan having to buy out Bear Stears for $2/ share, when a year ago they were selling for around $170...

We will see what happens. They are afraid that this tax incentive program that everyone will be receiving will be useless as it will all be counteracted by the increase in gas...
SpellcasterDX
Yea, and the value of a dollar has gone down. Not sure by how much, but I know it's gone down.

Plus, I heard somewhere that we might have another stock market crash soon, just like the Great Depression in the 1900's.

Anyway, I hope the economy improves, cause, everything's really expensive right now.
uuuuuu
If I can chime in for just a second, y'all.

One of the problems with the United States, is that our interactions with one another are not insulated from market forces.

I'm not saying that there is anything wrong with competition, it's a factor that drives us to be better. What I'm saying is there ought not be competition WITHIN a society.

How the @#$% can we help each other when on one hand we're trying to @#^@$ each other over 8 hours a day, and on the other hand we're just trying to keep our heads above water.

The reason capitalism is so successful an economic scheme for the state is it keeps all of our attention away from the true problems that are plaguing us.

The forces that we are subjected to are NOT the forces that promote harmony and honesty. Take a look at this recent manifestation of how messed up everything is:

http://laist.com/2008/03/19/youtube_del_tac.php

Stealing $15 of Del Taco food for you and your buddies can land you a maximum of seven years in prison. That's what two accomplices are up against in a case where three men filmed themselves tricking Del Taco employees over the phone to give them a free meal and then posting it on YouTube. The video's "star," Robert Echeverria, who Rialto police said is a known gang member and was "crying like a baby" at the station before making a plea bargain to serve 30 days in jail with three years of probation.

-ibid.

Love to your mother,

Uwe
Liu
The extra $6 billion in the markets seems to have turned around stocks lately.
BigMo420
ddoonie wrote:
the housing market IS a leading indicator to the future of the economy.


The housing market is already steadying after only 2 years of decline. If you'd take in to account that about 30 percent of people that bought a first house in the last 5-7 years had no business (credit wise) getting a loan, you'd understand that this is simply a correction. The banks got greedy, the banks will get pwnt when all is said and done. That's already starting.

Once those houses are back on the market and the loan process is back to where you have to actually qualify for the loan, then it will go back to it's steady increase. It will likely be another 5 years before prices return to what they were at the height of the bubble, but it will happen. Gold and real estate. What else could a man want?

'Bout the only thing that will destroy this economy is 4 to 8 years of a democratically controlled congress, white house and senate. They WILL raise taxes, they've already said it. And it won't be by a small margin either. They're going to need a lot of money to fund all the social programs they're planning in order to grow your dependency on them. Even then, owning equitable property will get you through that fiasco.
scotty
We're riding off a bit of a boom here in Australia so things are very very good. Interest rates are starting to go up though due to inflationary pressures but nevertheless for people without debt, times are good. The screw up in the US at the moment is beginning to affect us though. Banks in Australia are exposed to the US market/economy and some have made some losses and shares have recently lost a lot of ground in Australia and aren't expected to make much of a recovery for a long time!
uuuuuu
Here is an excerpt from an interesting article that I noticed today.
It basically says that the Vice President of the U.S., Dick Cheney, is investing his money as if he expects the U.S. economy to suffer drastically. Check it out:

"Cheney has dumped another (estimated) $10 to $25 million in a European bond fund which tells us that he is counting on a steadily weakening dollar. So, while working class Americans are loosing ground to inflation and rising energy costs, Darth Cheney will be enhancing his wealth in “Old Europe”. As Blackburn sagely notes, “Not all ‘bad news’ is bad for everybody.”

This should put to rest once and for all the foolish notion that the “Bush Economic Plan” is anything more than a scam aimed at looting the public till. The whole deal is intended to shift the nation's wealth from one class to another. It’s also clear that Bush-Cheney couldn’t have carried this off without the tacit approval of the thieves at the Federal Reserve who engineered the low-interest rate boondoggle to put the American people to sleep while they picked their pockets."

We're getting robbed blind, everybody.

Germany is seriously concerned about the potential upcoming U.S. economic collapse, according to an article that I read today on spiegel.de:

Germany and other industrialized nations are desperately trying to brace themselves against the threat of a collapse of the global financial system. The crisis has now taken its toll on the German economy, where the weak dollar is putting jobs in jeopardy and the credit crunch is paralyzing many businesses.

Hold on tight everybody.

Love,

Uwe
Liu
uuuuuu can you please link the sources? I'd like to read more into the post as well.

Foreclosures are rampant now, especially in CA.

I was planning on taking a vacation in Taiwan where most of my family presides, however because of the weakening US dollar I've had to put off my trip.
uuuuuu
Liu, Here they are:

http://www.informationclearinghouse.info/article13851.htm
(The article about Cheney's investments)

http://www.spiegel.de/international/business/0,1518,543588,00.html
(The article about Germany's fear of economic collapse because of the weakening dollar)

and here's another one that you might find interesting.

http://biz.yahoo.com/rb/080327/markets_money.html

The FED is injecting $75 BILLION into the fetid, stagnant, cesspool known as our economy, AGAIN.

Here's the intro to the last article for those too lazy to click the link:

"NEW YORK/FRANKFURT (Reuters) - The U.S. Federal Reserve prepared to pump $75 billion into frozen credit markets following moves by European central banks on Thursday to help lenders who scrambled to meet quarter-end funding needs.

The Fed was ready to exchange billions in low-risk U.S. government bonds for underperforming mortgage investments from primary dealers as part of steps announced this month to help them raise capital and to encourage broader lending."

We've been bent over for a long time, and we're just starting to realize it.
It's been nice knowing you, folks.

Tell your mom hi for me,

Love,

Uwe
raine dragon
Apparently, It's good for Canada ^^;; I live in Vermont, and I'm not too far from the Canadian border.. and we have all be noticing a lot more people coming down here from Canada to shop. I'm getting a ton more Canadian coins in my change too. Kinda annoying because while stores don't mind giving it to me as if it was American money.. they don't want to take it without converting it. Not to mention the laundry mat won't take Canadian quarters. >.<;
Davidgr1200
Quote:
The U.S. Federal Reserve prepared to pump $75 billion into frozen credit markets

Where is that money coming from? The Federal Reserve does not have a big bag of money just lying around doing nothing. It's probably that they will allow banks and other financial institutions to have some more credit - exactly the sort of thing which caused the problem in the first place. They are just making things worse in the slightly longer term.
fx-trading-education
Nowadays people in US are complaining for the gas price, but they forget that the price they had before was very low. The kind of price that people pay today has been paid in Europe for many years.
So I guess that US people just have to learn to use smaller cars that uses less gas. You will save a lot both for the car price and for the gas price.
BigMo420
fx-trading-education wrote:
Nowadays people in US are complaining for the gas price, but they forget that the price they had before was very low. The kind of price that people pay today has been paid in Europe for many years.
So I guess that US people just have to learn to use smaller cars that uses less gas. You will save a lot both for the car price and for the gas price.


Um. No. I'll continue to drive my gas guzzling SUV. I'll complain about the price if I think it's too high. I'll strike if it gets out of hand. And I'll not be "learning to use smaller cars that use less gas", thank you.
BigMo420
raine dragon wrote:
Apparently, It's good for Canada ^^;; I live in Vermont, and I'm not too far from the Canadian border.. and we have all be noticing a lot more people coming down here from Canada to shop. I'm getting a ton more Canadian coins in my change too. Kinda annoying because while stores don't mind giving it to me as if it was American money.. they don't want to take it without converting it. Not to mention the laundry mat won't take Canadian quarters. >.<;


Rolling Eyes Rolling Eyes Rolling Eyes How absolutely annoying. The font, not the content. I didn't read the content, too annoying... Rolling Eyes Rolling Eyes Rolling Eyes
Liu
I must admit, it is very enjoyable and a luxury to be driving an SUV or Sports Car compared to an economy car. I'm hoping they find a substitute fast -- I hear the by product grease of burger/french fry joints powers a car. Hopefully this will end the monopoly of gas.
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