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Thread: The Recession May Get Worse?

  1. #31
    Elite Member Grimmlok's Avatar
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    The problem is corporations are recording record profits from their overseas ventures but aren't creating any jobs at home. They have tons of cash but aren't reinvesting in America. They're shifting more and more of their operations OUT.

    They're squeezing the last drops out of the country.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  2. #32
    Elite Member Mel1973's Avatar
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    Wait a minute: I thought we'd already done been tole that there ain't no recession???? It's over per the Obama goes on The View thread?
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  3. #33
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    Quote Originally Posted by sluce View Post
    It's funny how different parts of the country are affected. I have several friends here who own companies and are having a hard time finding good, qualified candidated for management positions. I also do not personally know one person who was laid off. I have a few clients who lost their jobs but it was not due to lay-offs.
    Yep it's real funny until it happens to you.

  4. #34
    Elite Member sluce's Avatar
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    The best thing that can come of this would be if people learn to control their finances. Do not buy homes they cannot afford. Do not live off of credit cards. Have some savings to fall back on. I'm not pointing to you Alysheba, but I have seen too many people interviewed and bitching that they lost everything when in reality, they had nothing to begin with. If you owe more than you are worth, you have nothing to lose.
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  5. #35
    Elite Member MohandasKGanja's Avatar
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    Quote Originally Posted by sluce View Post
    The best thing that can come of this would be if people learn to control their finances. Do not buy homes they cannot afford. Do not live off of credit cards. Have some savings to fall back on. I'm not pointing to you Alysheba, but I have seen too many people interviewed and bitching that they lost everything when in reality, they had nothing to begin with. If you owe more than you are worth, you have nothing to lose.
    I think the problem now is that even frugal, careful people are losing their jobs.

    I noticed in a Washington Post article this morning that the Obama Administration plans to tax at a higher rate companies that export jobs oversees. That's an approach that I have been hoping for for at least the last 10 years.

  6. #36
    Elite Member sluce's Avatar
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    Yes but the careful, frugal people tend to have savings to fall back on until they get a new job.

    We had banks willing to lend people more than they should and people lining up to to do it without thinking of the consequences. Now they want to be viewed as victims for what the big bad banks did to them.
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  7. #37
    Elite Member NVash's Avatar
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    I don't know what to think about this. I know many others besides myself who can't get real jobs. Sure we can pick up temp jobs but those guys know they have people trapped so they treat everyone however they want and get away with murder. The sad part is around here many are forced into temp jobs, especially if you want to get a job working for a decent company. Apparently said companies get people from temp agencies and possibly hire them later on.

    Now regular jobs are few and far between. I keep wondering how people expect this recession to get any better when no ones hiring. And from what I hear some people that are hiring are actually cutting wages. So they used to hire at above minimum wage, now everyone gets minimum wage. They are forever cutting hours so you barely make enough to pay bills and then they don't even offer benefits. I remember this well, I was there when they took benefits and they told us if we had a problem with it the store down the street was hiring. There was no store, they had us and they knew it. Deal with however we want to treat you or be unemployed. Through no fault of my own I ended up losing that job and have had no luck finding anything in almost a year. I moved and I see the problem is just as bad if not worst in other states.

    Many times I would hear companies saying they had no money to hire new people but yet they'd make two workers do the job of five. I understand saving money but this is madness. I can't even count how often I wished the president could make companies pay decent wages, give benefits back, treat employees better and hire new people. But we all know he has other things on his plate. I just don't understand how anyone expects anything to get better when so many have no jobs. To buy your product I need a job. To pay my bills I need a job. What can I do when, no matter where I go, no one is hiring? Simple answer is actually obvious, it won't get better. Oh but I hope I'm wrong.

  8. #38
    Elite Member Mel1973's Avatar
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    Quote Originally Posted by sluce View Post
    Yes but the careful, frugal people tend to have savings to fall back on until they get a new job.

    We had banks willing to lend people more than they should and people lining up to to do it without thinking of the consequences. Now they want to be viewed as victims for what the big bad banks did to them.
    I agree with you in this instance. Anyone who has ever gotten into financial trouble would. I haven't used a credit card in over 10 years. If I can't pay cash for something, I don't need it. I don't get it, I ain't borrowing money or using a flocking credit card. I know people who live LIVE on credit cards and make those minimum monthly payments, have gotten loans to pay off the credit cards (to the tune of $70,000.00) and then just ran them right back up. Live in homes they cannot afford (so much so that they will only run a/c on the bottom floor of their home. They don't need a big house to begin with but they feel that they should have it - it's all about appearances. Its nuts.
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  9. #39
    Elite Member LynnieD's Avatar
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    The area I live in isn't horrible either. Not great, some businesses have gone under, but I also do not know anyone that has been greatly effected by this economic downturn. I know 2 people who have lost their jobs--both fired, due to being complete fucking idiots. One of these people cannot find a job now that paid like the one she was fired from--but again, because she has such a shitty reputation, no one will hire her.

    I sincerely feel for those who have been effected. Its not a fun place to be for sure, and I hope everything goes well in the future.

    Right now...just hang on. It'll get better. We're not done yet.

  10. #40
    Elite Member Grimmlok's Avatar
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    It's hard to be frugal when everything costs so much. Houses are expensive. Cars are expensive. Health insurance is expensive.

    It's not tricking your kids out in the latest gear or buying a luxury sedan.. it's basic home stuff. Even that shit is spiraling out control, cost wise, when compared with people's wages.

    People can't afford anything on their salaries anymore. What they managed to scrape together costs too much, and then if they lose their jobs they have little to fall back on because, surprise, it's hard to save when everything costs so damn much and you don't make enough.

    Wages have been stagnant for 30 years while costs have risen to ridiculous levels. It's not sustainable.
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  11. #41
    Elite Member MohandasKGanja's Avatar
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    Quote Originally Posted by Grimmlok View Post
    People can't afford anything on their salaries anymore. What they managed to scrape together costs too much, and then if they lose their jobs they have little to fall back on because, surprise, it's hard to save when everything costs so damn much and you don't make enough.

    Wages have been stagnant for 30 years while costs have risen to ridiculous levels. It's not sustainable.
    The scary part is that a number of economists are saying that the United States is stuck in a stagnant economy because of inflated wages -- and that wage deflation will have to occur before the economy recovers.

    Because the U.S. economy relies so much on domestic consumer spending, I don't see how wage deflation and less purchase power per dollar would allow the economy to recover, unless they were hoping that the U.S. economy would start evolving to an export economy again.

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    Quote Originally Posted by Mel1973 View Post
    Wait a minute: I thought we'd already done been tole that there ain't no recession???? It's over per the Obama goes on The View thread?

    The recession is over. We are in recovery. GDP is up and more jobs are being created. The problem is that the recovery is slow and uneven, so it feels like a recession.

    The scary part is that a number of economists are saying that the United States is stuck in a stagnant economy because of inflated wages -- and that wage deflation will have to occur before the economy recovers.

    Because the U.S. economy relies so much on domestic consumer spending, I don't see how wage deflation and less purchase power per dollar would allow the economy to recover, unless they were hoping that the U.S. economy would start evolving to an export economy again.
    You're right, and I wouldn't trust any economist who says that we need wage deflation.
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  13. #43
    Elite Member sluce's Avatar
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    Quote Originally Posted by visitor42 View Post
    The recession is over. We are in recovery. GDP is up and more jobs are being created. The problem is that the recovery is slow and uneven, so it feels like a recession.
    The other part is that the general public doesn't know we are in a recession until the news tells them so. Then panic sets in. It takes time before people start to feel secure and optimistic again. I am confident that people will go right back to living above their means again in no time.
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  14. #44
    Elite Member Grimmlok's Avatar
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    Not the people who can't find the jobs that aren't being created.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

  15. #45
    Elite Member NVash's Avatar
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    Where do you get this idea that theres no recession? I could not and still cant find a job for over a year. I just said I go to apply and everyones giving the excuse that they have no money to hire workers or are handing out jobs where youre treated so bad that you know it has to be illegal.

    Oh wait, I forgot my old joke. I remember when they first said that there was a recession, I used to smile and say that they called it a recession but I called it everyday life.

    Its always been hard to get a job, now its just ridiculous.

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