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Author Topic: Has the downturn in the economy affected you (yet)?  (Read 5909 times)

Offline Debbie

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Re: Has the downturn in the economy affected you (yet)?
« Reply #15 on: February 02, 2009, 11:07:47 AM »
So, since I started this thread a year ago -

My brother, a 20-year veteran VP with Citigroup has been out of a job since June.  He is giving up on the corporate world and going into the private sector.

The hotel industry (I work in this industry) is suffering and has not seen the likes of this since 9/11.  Many lay offs, no new hires, no one making any money in those tipped positions, like bellmen.

In the restaurant business - it is down, down, down.

Stimulus or no stimulus, I think we are in for a long and slow climb out of this.

Offline TRX

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Re: Has the downturn in the economy affected you
« Reply #16 on: February 24, 2009, 12:26:39 PM »
Is it too late to panic. Doubt that would help.


But I did not realize that it could be that bad so soon. Usually NYC has guests searching with difficulty for available hotel rooms. Now nearly 1/3 of hotel rooms are vacant?
This may be in part because of the previous hotel construction boom, but when has hotel vacancy been so low?


Wall Street was a bigger and still is a big engine of NYC's economy. But tourism is very important as well.




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Offline wasabisam

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Re: Has the downturn in the economy affected you (yet)?
« Reply #17 on: February 24, 2009, 01:29:40 PM »
So far we've been mostly affected by rising food prices. It's insane how much everything now costs, but we are trying to make more of what we eat from scratch to compensate (plus it's just more healthy).

The NPO industry has been hit hard, but so far my org has not seen layoffs. Everyone is paranoid though, and just waiting for it to hit. When it does, and if I'm part of it, I'll take a much needed break and then join the rest of the job seekers. :(

I think it will be a while yet before the economy recovers, but I can't allow myself to worry too much about it. I see too many people paralyzed by their fears of what-if. If it gets too bad we can always move back in with our parents. ;)
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Offline essen

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Re: Has the downturn in the economy affected you (yet)?
« Reply #18 on: February 24, 2009, 02:12:23 PM »
The food price thing bugs me. The reason originally presented for most food prices going up was fuel prices. Well, fuel prices have been pretty low for a while now, and I don't see food prices going back to what they were before. On the same token I wonder about airline prices and services, and if they'll start to either lower the ticket prices or start to bring back some services (like peanuts on planes and not charging per checked bag). Guessing not.

Offline paratactical

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Re: Has the downturn in the economy affected you (yet)?
« Reply #19 on: February 24, 2009, 02:13:50 PM »
I haven't noticed the price of food really going up. What kinds of things are more expensive now?

Offline TRX

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Re: Has the downturn in the economy affected you (yet)?
« Reply #20 on: February 24, 2009, 02:37:38 PM »
I did ask one nonprofit about budgets so far. While they have cut some extended services, thankfully their core budget is maintained.


I am thankful that many donors appreciate that the need is even greater now than it had been when givers were more flush.

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As for food, some price spikes have settled a bit.

However:  http://www.time.com/time/world/article/0,8599,1717572,00.html
We are still so fortunate in our country. Food is still a greater concern for many parts of the world.


***
Agreed about airline service and pricing changes.
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Offline essen

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Re: Has the downturn in the economy affected you (yet)?
« Reply #21 on: February 24, 2009, 07:31:10 PM »
I haven't noticed the price of food really going up. What kinds of things are more expensive now?

Of what I buy, I've noticed milk and cereal have gotten more expensive.

Offline daisy

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Re: Has the downturn in the economy affected you (yet)?
« Reply #22 on: February 24, 2009, 08:32:27 PM »
Just about all the food I buy has gone up at Key Food.  I now shop bases on sales at drugstores and grocery, and use coupons extensively.

It's not easy but I don't have student loans, kids, or a house to pay off, so I'm better off than most folks.  Many people I know have it much worse than I do. 

The recession has definitely affected everyone, but because I'm an artist and work in the entertainment fields, I'm used to saving money and bargain hunting.  It's a freelance life, and you learn to live within your means.  And ever since I quit drinking, I've been saving a pretty penny and feeling all the better for it, health and penny wise.  I don't miss it one bit, and I still go out and have fun.   I just drink water or ginger ale.   

Offline neo11

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Re: Has the downturn in the economy affected you (yet)?
« Reply #23 on: February 26, 2009, 05:03:28 AM »
Produce prices have really gone up...I've actually seen lemons at some supermarket as high as 99 cents each.  Not organic either, and not out of season.  Or apples at close to three dollars a pound!  Again, not organic, and not out of season.

Prices of wheat products have really gone up now...some breads can run close to 4-5 dollars now....hardly specialty or organic breads either.

It wasn't too long ago that one could get a couple of boxes of pasta for a dollar.  Now the lowest price I can find is 99 cents on sale.

Not exactly food, but paper products (napkins, paper towels, etc.) also seen to have gone up greatly.

It amazes me how there's always an excuse ready when the prices are going up (higher fuel prices, for instance) but no one in the media seems to ask the obvious questions, such as why food and other commodity prices have not gone back down, as fuel prices have plummeted.  I guess that question just makes too much sense and is too far on point for the "fair" and "unbiased" media to ask.

Offline Sweeper

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Re: Has the downturn in the economy affected you (yet)?
« Reply #24 on: February 26, 2009, 06:21:49 AM »
Quote
It amazes me how there's always an excuse ready when the prices are going up (higher fuel prices, for instance) but no one in the media seems to ask the obvious questions, such as why food and other commodity prices have not gone back down, as fuel prices have plummeted.  I guess that question just makes too much sense and is too far on point for the "fair" and "unbiased" media to ask.

What is your theory on this? I don't see any reason for an increased demand. Nor any reason for unnatural scarcity. To me that just means the inflation is being caused by the drop in the value of the dollar. I may be wrong about changes in demand and/or scarcity, but I do feel the dollar is going to go significantly lower still.

Offline TRX

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Re: Has the downturn in the economy affected you (yet)?
« Reply #25 on: February 26, 2009, 11:16:37 AM »
Every Thanksgiving isnt there a report on what the cost of a meal is.

I'd be curious to see a time vault of regular expenses.
On Fresh Direct, they have a quart of OJ found for $1.50 but that is bulk.

As for airline pricing, I never understand that. Has supply gone down greatly?


And for inflation, the Feds are looking to see when or if inflation would hit near 2% again.
If the dollar would be weaker, would you see other currencies increase? Which ones - the Euro or Japanese Yen?
There are many economies struggling and many countries are pushing their own stimulus.
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Offline Harlan

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Re: Has the downturn in the economy affected you (yet)?
« Reply #26 on: March 03, 2009, 02:08:41 PM »
It amazes me how there's always an excuse ready when the prices are going up (higher fuel prices, for instance) but no one in the media seems to ask the obvious questions, such as why food and other commodity prices have not gone back down, as fuel prices have plummeted.  I guess that question just makes too much sense and is too far on point for the "fair" and "unbiased" media to ask.

Just saw something that reminded me of this thread. As you requested, the LA Times just asked exactly this question, and here's the Consumerist blog's report on what they found:

Key quotes from the blog:
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With the the cost of ingredients, gas prices, and interest rates dropping, why are food manufacturers continuing to hike prices and shrink products? ...Supermarkets don't know, but they're as pissed as we are.

...Manufacturers blame the price increases on futures contracts they unwisely bought, and now they're paying too much for cheapened ingredients. Bad speculation strikes again!


Offline Debbie

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Re: Has the downturn in the economy affected you (yet)?
« Reply #27 on: March 04, 2009, 05:16:05 PM »
I have to lay more people off the end of this week.  I am dreading it. 

Offline paratactical

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Re: Has the downturn in the economy affected you (yet)?
« Reply #28 on: March 04, 2009, 05:40:07 PM »
I have to lay more people off the end of this week.  I am dreading it. 

That's awful, Debbie. I know we don't get agree very often, but I imagine that being in the unfortunate position of having to lay people off would be very difficult. I hope that everything turns around for your business soon and that you can call those people back.

Offline Christine

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Re: Has the downturn in the economy affected you (yet)?
« Reply #29 on: March 04, 2009, 09:14:23 PM »
As much as I love this city, when I think about raising a family here on a normal (even above-average) income, it's aggrivating.

I dream of being able to move someplace more affordable, maybe near a college town where you can find some culture and variety, and actually GET someplace, even on less money.

Pennsylvania, for example- great natural beauty, affordable property, history and culture not too far away, cheap car insurance, etc.

My friend in NC tells me that if she works there a certain number of years and retires there, she gets something like $20k as a bonus or something. Maybe b/c she works for the county, not sure. She's got an enormous house on a nice piece of property for less than $200k. Not very exciting, but great for raising kids.

Guess you could say that the economy has me thinking about moving away that much more seriously, not that any one region is less affected than another- just cheaper.
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