Topic: Poor economy?

[kneedownnate]

We've all heard the bs on the news lately about how the economy is taking a dive, dollar is losing value and we're headed for a recession.  They've been saying we're going to have minimal spending growth between turkey day and christmas.... but.... what's that?  Now they're saying there was record spending and it looks really good for retailers?  Blasphemy I tell you!  Where's the recession we were promised?  What happened to all those who were told they weren't going to spend money?

This bs goes right in line with something I've noticed more and more as time goes by.  Everything goes fine, people spend money like they do every day, then the meddeling media goes off and says we're headed for a recession.  What happens next?  The mindless drones that make up the majority of our population think the economy is going in the toilet, so just like they're told they're going to do by the media they stop spending.  Tighten the belt.  Do we really need that?  Well, I'll wait until the 6 o'clock news comes on to tell me how important this item is to my life, then I'll make up my mind whether or not to buy it.

So I ask you this; do you base your spending on what you want and need, or do you follow the rest of the flock who believes everything they hear in the media?

End rant...... if that's ok with everybody else.....

[Rockcrawlintoy]

where is the money coming from?? at work we had a corporate wide e mail saying basically we have had a record amount of credit sales. i dont see that as a good thing.

[kneedownnate [OP]]

Where do you work?  Every year at work they tell us sales are way down from the year before, but we still go through the majority of the summer with almost every boat rented out.  They try and say "yea, but in years past we had 30+ boats going out a day", but I keep saying "does it really matter how many go out each day?  If they're all rented, they're all rented!".  I guess that's too simple for them, cause they just don't get it.

[Tallchevy]

I buy what I want & need reguardless of the economy. The holidays are here & it will cost me just as much as last year. So I never listen to them. The media can't even predict the weather with today technology, what makes you think you should listen to them about the economy  

[NT-OUTBACK]

Recessions don't happen overnight and trust me there is one in the mail as we speak. We are a debtor society from our government to the citizens and the days of cheap credit just ended

[kneedownnate [OP]]

That's just it though, there's always a recession looming.  There is no such thing as a flat line economy, and just like a business we have our ups and our downs.  Even if we just recently came strongly surging out of a recession, we'd be headed for another one.  Every time summer starts we know winter is coming...

[NT-OUTBACK]

Maybe I'm just not the optimist, but I see and can read the data and draw my own conclusions. This economy is heading into the toilet. I see no point in being in denial myself about the long term ramifications of bad loans, government debt, crumbling housing market, high oil prices, stock market that seems to lose 200 points a day lately like its no big deal. This subprime loan garbage and housing crap is going to make the aftermath in economic terms of 9/11 look like a cupcake compared to a wedding cake.

I also find it funny that the reserve is throwing billions of dollars in parachutes these days like it is nothing further depressing the dollar. I wonder what China thinks

[Rocksurfer]

I think the new laws regarding bankruptcy will pull us all down. All those credit loving idiots have no way to clean the slate anymore. Sure business takes a hit when someone goes under and files for bankruptcy but then when they come out the other side they grab a new bunch of cards and start spending again. Now you still gotta pay off most of the debt you created so you are screwed and it will be a domino effect. I remember as a kid the most important thing was your home, protect it at all costs, now it is just a place to hang your hat at the end of the day, if you get into trouble you just walk away and let the bank deal with it while you run off and find another hat hanger. I remember when someone on my block bought a new car it was an event, everyone wanted to see the new car. Today you get another one before you even paid off the old one and you traded it in and now owe more for the new one than it is worth. It is not just our fault the lenders are way more at fault than us they have given us the opportunity to spend way more than we could ever pay back. I have been waiting for the colapse of the housing market, it is inevitable and everyone that paid the big bucks for those homes will suffer, they will never recoup that money ever. That will be the biggest catalyst to our downfall, everyone that has bought, then refinanced, then cashed out will be done.

[Rockcrawlintoy]

Where do you work?  Every year at work they tell us sales are way down from the year before, but we still go through the majority of the summer with almost every boat rented out.  They try and say "yea, but in years past we had 30+ boats going out a day", but I keep saying "does it really matter how many go out each day?  If they're all rented, they're all rented!".  I guess that's too simple for them, cause they just don't get it.

i work at a major sporting goods store. we had our best day ever in the history of our store. it was just that a majority of the sales were using credit. that means people are buyin stuff with cash they dont have. to me i think that is a bad thing

[Ramrod]

good I want a recession for about another year so I can buy a house while there still cheap

[skipnrocks]

good I want a recession for about another year so I can buy a house while there still cheap

lol me too, im lookin to buy a house in two years and wouldnt mind a down housing market...    like others have said too many people spending money they dont have.....  i for one am glad bankrupsy willno longer be a safe haven for people who dont wish to own up to their life decisions.... Dont get me wronge I know there are situations in life out of peoples controll but I think a large part of the time its a cop out!

[mudguts]

I think the new laws regarding bankruptcy will pull us all down. All those credit loving idiots have no way to clean the slate anymore. Sure business takes a hit when someone goes under and files for bankruptcy but then when they come out the other side they grab a new bunch of cards and start spending again. Now you still gotta pay off most of the debt you created so you are screwed and it will be a domino effect. I remember as a kid the most important thing was your home, protect it at all costs, now it is just a place to hang your hat at the end of the day, if you get into trouble you just walk away and let the bank deal with it while you run off and find another hat hanger. I remember when someone on my block bought a new car it was an event, everyone wanted to see the new car. Today you get another one before you even paid off the old one and you traded it in and now owe more for the new one than it is worth. It is not just our fault the lenders are way more at fault than us they have given us the opportunity to spend way more than we could ever pay back. I have been waiting for the colapse of the housing market, it is inevitable and everyone that paid the big bucks for those homes will suffer, they will never recoup that money ever. That will be the biggest catalyst to our downfall, everyone that has bought, then refinanced, then cashed out will be done.

Yup.
I seen this mess coming for a long time.

[Misfit4Runner]

people think they can spend and spend and spend all this money they haven't even earned yet. Crap pisses me off I got 1 credit card and I keep a balance on it just to build credit and it worked cuz I got around a 760 and Im only 22. Everybody is tyring to live out side their means all this housing crap people going into forclosures and bankruptcy if they would have stopped for one second done some math and realized that they were trusting people that are tyring to pay off houses themselves. we wouldn't be having this big off a problem Plus oil company's seeing their demise with the advent of hybrid and alternate fuel their getting their money while they can. But Ill hand it to them they have held off the 100 mpg heads and alt fuel designs off for awhile even by Means of theft and death threats.

[skipnrocks]

people think they can spend and spend and spend all this money they haven't even earned yet. Crap pisses me off I got 1 credit card and I keep a balance on it just to build credit and it worked cuz I got around a 760 and Im only 22. Everybody is tyring to live out side their means all this housing crap people going into forclosures and bankruptcy if they would have stopped for one second done some math and realized that they were trusting people that are tyring to pay off houses themselves. we wouldn't be having this big off a problem Plus oil company's seeing their demise with the advent of hybrid and alternate fuel their getting their money while they can. But Ill hand it to them they have held off the 100 mpg heads and alt fuel designs off for awhile even by Means of theft and death threats.

Good call on the credit card and living within your means....  I have two credit cards, one only gets used if I have an emergency and cant cover it.... IE broke down on the highway, not omg i want that for my rig!!!  And the other card I have had for years and the only reason I got it was for credit purposes,  I couldnt get approved for student loans, or a house loan, even thought I owned my car and had worked my way through college up to htat point.... Im not bragging this is just the way I was raised... .If you want something and cant pay for it you wait!!!  Maybe with this new bankrupsy thing people will learn that....  If people can controll their finances the world would be alot better place, somany problems are caused by stress from money or the lack thereof...

[brainlessfool]

hummm seams like yall don't think I should be useing up my creit limits on my cards and then just getting new cards?

[BLACKDOG]

hummm seams like yall don't think I should be useing up my creit limits on my cards and then just getting new cards?

Yeah, I wouldn't recommend that. 

I too was raised to be frugal with money.  You can't afford it, you don't get to buy it. 

[dt]

outsourcing jobs,a ridiculously expensive war,illeagle aliens taking jobs and sending their money back home ,no manufacturing sector,just like Russia 15 years ago when they fought Afghanistan....all the men became gangsters and all the women became prostitutes,as Americans we deserve better