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I'm no economic genius but I think half of this is b.s.
It's rumor then panic. People say "Oh, did you hear, there's a recession!" to one person, then another, so everyone starts hoarding money, not spending, going out to eat, whatever. Suddenly employers cut back on overtime or refuse to hire any more people...it's like a snowball.
The news reports every negative story they can...it's just stupid.
Half the reason SOME people have problems is because they want bigger and better instead of being happy with 'reasonable' homes, cars, trips and so on.
On the other hand, some people DO have reason to complain because wages do not rise despite everything else skyrocketing.
Personally I have seen the jobs 'dry up' in the 2 months I have been seriously looking. Last autumn there were a lot more. I am hoping in the spring we have the same again.
I'm no economic genius but I think half of this is b.s.
It's rumor then panic. People say "Oh, did you hear, there's a recession!" to one person, then another, so everyone starts hoarding money, not spending, going out to eat, whatever. Suddenly employers cut back on overtime or refuse to hire any more people...it's like a snowball.
The news reports every negative story they can...it's just stupid.
Half the reason SOME people have problems is because they want bigger and better instead of being happy with 'reasonable' homes, cars, trips and so on.
On the other hand, some people DO have reason to complain because wages do not rise despite everything else skyrocketing.
Personally I have seen the jobs 'dry up' in the 2 months I have been seriously looking. Last autumn there were a lot more. I am hoping in the spring we have the same again.
Gypsy,problem with the recent generations of Americans (boomers and Xers) isn't hoarding money,and our government is in the same mode(read Bush,not Clinton).
BCA Research - Independent Investment Research Since 1949 (http://www.bcaresearch.com/public/story.asp?pre=PRE-20080204.GIF - broken link)
Finance, housing, and retail are in deep recession.
If you're in an industry that's related to energy, agriculture, and raw materials, you're probably in a boom because of inflation and exports.
If you're in a sector that's correlated to population growth or heavily supported by government spending, such as education, healthcare, and government contracting, you're immune to the recession.
What is your opinion? Are we just facing a slowdown, or do you think we are in a recession?
If you do, why do you think so, and how severe do you think this recession will be?
If you don't, why don't you think so?
As for me, I'm not really sure. Yes, we lost 17,000 jobs (unrevised) in January, and the service sector has been contracting, but at the same time the manufacturing sector has (barely) been expanding, exports have been growing, etc.
The media obviously has a great deal of control in what the public precieves as "happening" in society, as opposed to what the economy really is doing. It is impossible for the media to know the economic climate in every city in the U.S., so usually only the big cities are indicators of trends. I personally believe that things are becoming harder for many people, and that alone is a good sign that things will be on the down-turn unless more can be done to stimulate job growth, and better paying jobs.
BCA Research - Independent Investment Research Since 1949 (http://www.bcaresearch.com/public/story.asp?pre=PRE-20080204.GIF - broken link)
Finance, housing, and retail are in deep recession.
If you're in an industry that's related to energy, agriculture, and raw materials, you're probably in a boom because of inflation and exports.
If you're in a sector that's correlated to population growth or heavily supported by government spending, such as education, healthcare, and government contracting, you're immune to the recession.
Muni Bond industry is fixin' to implode due to increased insurance rates and higher yields needed to attract investors,read less state and local spending for EVERYTHING,i.e. schools,bridges,roads,just because you're a government employee shouldn't make you feel secure.
They'll eventually force the bankrupt insurers to separate their munipal bond businesses from their structured finance insurance business. Everyone knows that they're hanging on to the only viable business they have for leverage and that they're looking to the governments to bail them out in some form. The banks will be the ones that get hit first. If the breakups are forced in the next several days, the banks's writedowns of those losses should occur in March before the earnings reporting period.
Depends on what part of the country you're in. If you're in the South (outside of the southern tip of Florida), you're continuing to enjoy a strong economic expansion. If you're in the Great Lakes region, you're definitely in a recession.
They'll eventually force the bankrupt insurers to separate their munipal bond businesses from their structured finance insurance business. Everyone knows that they're hanging on to the only viable business they have for leverage and that they're looking to the governments to bail them out in some form. The banks will be the ones that get hit first. If the breakups are forced in the next several days, the banks's writedowns of those losses should occur in March before the earnings reporting period.
Playing the shell game with debt won't cure the underlying problem.
They've been saying that by the time all the numbers really come in and is broken down we could be officially be in one right now and upon the announcement we could be out of it by then.
Psychologically we are.
People are worried to spend large sums of money at this point. People are starting to wake up and are coming to the realization that you can't live off of trusted goods forever. CC company's want their money as lenders are folding left and right.
I'm no economic genius but I think half of this is b.s.
It's rumor then panic. People say "Oh, did you hear, there's a recession!" to one person, then another, so everyone starts hoarding money, not spending, going out to eat, whatever. Suddenly employers cut back on overtime or refuse to hire any more people...it's like a snowball.
The news reports every negative story they can...it's just stupid.
Half the reason SOME people have problems is because they want bigger and better instead of being happy with 'reasonable' homes, cars, trips and so on.
On the other hand, some people DO have reason to complain because wages do not rise despite everything else skyrocketing.
Personally I have seen the jobs 'dry up' in the 2 months I have been seriously looking. Last autumn there were a lot more. I am hoping in the spring we have the same again.
Yeah, wouldn't it be nice if some of us did have the money to hoard
Whether we are officially in a recession now I don't know but many we know in our immediate area have lost jobs since Jan. or are facing job loss within the next month including my husband so to me if sure feels like a recession!
It's a real bummer when your wages get cut and your energy bill goes through the roof all in the same month.
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Recession...
