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Author Topic: Has the downturn in the economy affected you (yet)?  (Read 5902 times)

Offline paratactical

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Re: Has the downturn in the economy affected you (yet)?
« Reply #30 on: March 05, 2009, 07:58:58 AM »
Christine--

In the rural PA town I grew up in, my friends are renting a two story, three bedroom beautiful old Victorian house with a lawn and garage for $300 a month.  :-o  I don't know if I could stand living in that town at this point in my life, but maybe when/if I decide to have children, it will be something that I seriously consider.

I'm doing pretty okay despite the economy, but my boyfriend's restaurant (which is a hoity toity place that's been around for more than 20 years) has three nights this week with no dinner reservations. We'll be okay because we can take care of each other, but if that goes on for much longer, he's going to have to look for other work--which I'm sure will not be easy in this climate.

Offline Debbie

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Re: Has the downturn in the economy affected you (yet)?
« Reply #31 on: March 11, 2009, 05:25:26 PM »
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.

Thank you so much.  I have had to lay off about 30% of our staff and the last one on Friday sent me into a tailspin.  She was like my right hand and was perfect for the job.  Without her, I am not sure how we will manage.  I went home on Friday and crawled into my bed and felt that way on Saturday too.  I am so sorry for those people who were laid off.  If they do not get jobs and unemployment runs out, what happens to them?  Some of my Libertarian friends who were laid off now feel very grateful for the temporary safety net and wish they could get more assistance!

Offline EddieStjohns

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Re: Has the downturn in the economy affected you (yet)?
« Reply #32 on: March 13, 2009, 09:59:14 PM »
I lost well over 100K from my retirement savings and that has me nervous about my retirement (I turned 50 in 2008).  But I feel very fortunate to have my job.  I think people will reevaluate how much they spend and how little they save when this economic downturn is over.  I know several people who lost their jobs and had no emergency fund.  You should have six months of living expenses saved for times like this.  I don't mean six months of income but multiply your rent/mortgage, utilities ( don't include your cable, cell phone etc) and food expenses and you should save that much ASAP if you can for an emergency.

One of my unemployed friends laments that he was too busy eating out several times a week and  buying every new electronic gadget to save anything ( he actually has credit card debt in addition to zero savings).  He now realizes he was living well beyond his means.  My other friend who lost his job still doesn't get it and is now blaming the economy for this woes.  He is still eating out most nights (on his credit card) driving a two year old car that he purchased with no money down (of course he can't sell the car now he has no equity in it!).  he is in for tougher times in the future.

People need to realize if you have to buy things on credit you can't afford it.  The only exceptions to this are a home and student loans.  You also don't need to buy a car on credit!  Buy an older car - you don't need a new car every three years!  People who make 35K a year are buying 35K cars on credit!   People need to understand what they can and can't afford or they will never have financial freedom.

Offline essen

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Re: Has the downturn in the economy affected you (yet)?
« Reply #33 on: March 13, 2009, 11:11:58 PM »
One of my unemployed friends laments that he was too busy eating out several times a week and  buying every new electronic gadget to save anything ( he actually has credit card debt in addition to zero savings).  He now realizes he was living well beyond his means.  My other friend who lost his job still doesn't get it and is now blaming the economy for this woes.  He is still eating out most nights (on his credit card) driving a two year old car that he purchased with no money down (of course he can't sell the car now he has no equity in it!).  he is in for tougher times in the future.

People need to realize if you have to buy things on credit you can't afford it.  The only exceptions to this are a home and student loans.  You also don't need to buy a car on credit!  Buy an older car - you don't need a new car every three years!  People who make 35K a year are buying 35K cars on credit!   People need to understand what they can and can't afford or they will never have financial freedom.

What bugs me, aside from that, is that a lot of the news media and especially politicians aren't focusing on this aspect of the story, instead focusing on those poor folks who spent well beyond their means and now can't afford what they have or can't buy anymore. They're afraid of a backlash from the public and they don't want to piss off their viewers/constituents- but you start actually talking to people, and you find a lot who feel exactly the same way. Average citizens don't want to think that their overspending and debt has anything to do with our current economic problems, but that's just another part of the picture. One person with a few thousand dollars of credit card debt isn't a big deal, but when you have millions of people with thousands of dollars in debt that isn't effectively being paid off, that's a problem.

SNL dealt with this before all this economy stuff even happened: http://consumerist.com/consumer/clips/snl-skit-dont-buy-stuff-you-cant-afford-252491.php

Offline Christine

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Re: Has the downturn in the economy affected you (yet)?
« Reply #34 on: March 15, 2009, 09:01:18 AM »
The gov't encourages debt through consumerism: www.thestoryofstuff.com It's the American way. And the media are simply propaganda outlets for the gov't (the news isn't as impartial as we'd like to think.)

It must be amazing to go through life without constantly worrying about finances. I just rarely shop, to the point where people think I'm nuts. And my car is that sorry-looking crumpled up thing that is sure to make people laugh. Oh well! At least my credit card is paid off every month.

Come to think of it, with all the sales, it's nice to have a little extra money in the bank about now....I just might dust off the piggy bank....
« Last Edit: March 15, 2009, 09:08:57 AM by Christine »
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Offline CW

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Re: Has the downturn in the economy affected you (yet)?
« Reply #35 on: March 23, 2009, 10:29:44 PM »
The media are propaganda outlets for the advertisers even more so than the government. While the media occasionally stands up to the government, they never stand up to its advertisers. This is because media companies that badmouth their advertisers usually don't last long.

Offline essen

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Re: Has the downturn in the economy affected you (yet)?
« Reply #36 on: March 23, 2009, 11:26:32 PM »
The media are propaganda outlets for the advertisers even more so than the government. While the media occasionally stands up to the government, they never stand up to its advertisers. This is because media companies that badmouth their advertisers usually don't last long.

Well, it depends on what those advertisers are. In the case of things like the Snuggie and Vermont Teddy Bear, I'm not sure what there is to stand up against.

Offline johnny4evah!

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Re: Has the downturn in the economy affected you (yet)?
« Reply #37 on: March 24, 2009, 12:50:31 PM »
Or Debbie Meyer Greenbags. Just bought a box of 'em at BB&B. Anybody use them? Was tempted to pick up some ShamWows...

Williams Sonoma 4th quarter profits down by 90%:
http://www.marketwatch.com/news/story/Williams-Sonoma-net-tumbles-90/story.aspx?guid=%7BA4A8B7F6%2D3242%2D4A0D%2D9CF7%2D954B416BCEFB%7D

The readers' comments are funny.

Offline johnny4evah!

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Re: Has the downturn in the economy affected you (yet)?
« Reply #38 on: March 24, 2009, 01:49:53 PM »
Seems like the economic downturn has made Americans crave more candy. Not the hoity-toity, expensive,  gourmet stuff, but the good old cheapie brands from our childhood. I guess short of rolling up into fetal positions and sucking our thumbs, or lynching the rich, this new addiction should pacify us proletarians. Mmmm... Necco wafers, Milk Duds, Now-Laters, Goldberg Bars. Must--go--to--Economy--Candy!

http://www.nytimes.com/2009/03/24/nyregion/24candy.html


 

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