Recession on the loom

[ShellyLynn3630]

I really do feel as there is another recession just around the corner, even though the first one hasnt probably ended. This may be a depression. It is so sad how the economy is not getting any better.

 

[QVCshopper]

I really do feel as there is another recession just around the corner, even though the first one hasnt probably ended. This may be a depression. It is so sad how the economy is not getting any better.

Why do you think that? Maybe your area is particularly bad? I live in SE PA and personally think the area as a whole survived the recession quite well. Homes still cost a small fortune, most people still have jobs. I know a handful who lost theirs, but not many. And a few foreclosures, but again not tons. My company is begging me to pick up more hours; as many as I want... Even though I'm mostly a SAHM by day and worker by night.

Worrying will just make you more stressed out. Do what you can to save money, but you have little control over the whole economy. My dad says the same things as you, but he's been saying them for years and years. His doomsday outlook thus far has proved wrong; he's to the point he will hardly drive anywhere because he thinks gas is too expensive. It's sad to watch such a close relative live like that, but what can you do?

By the way, I've been broke as a kid, food stamps, WIC, free lunches, the whole deal.

 

[ancestry]

Honestly I think a lot of people have a mild version of PTSD in regards to the economy. Many people suffered, lost their homes, lost their financial stability, etc. and after such a traumatic financial and emotional shock people refuse to accept that things just might be stable and improving.

Really it comes down to perspective and state-of-mind. People say that the economy is not getting any better but I don't see that. I don't see a horrible economy to begin with. I've lived through times that were worse for me personally and for the community/state in which I live.

 

[Danibelle]

Honestly I think a lot of people have a mild version of PTSD in regards to the economy. Many people suffered, lost their homes, lost their financial stability, etc. and after such a traumatic financial and emotional shock people refuse to accept that things just might be stable and improving.

Really it comes down to perspective and state-of-mind. People say that the economy is not getting any better but I don't see that. I don't see a horrible economy to begin with. I've lived through times that were worse for me personally and for the community/state in which I live.

Unfortunately, the jobs market has not recovered and many parts of the country have a depressed housing market. I am hoping for improvement but in much of the country, there is little. I have family members who have lost homes and are having a hard time staying employed.

 

[momto2girls]

My part of the world has weathered it well, as has my family personally, but I do fear that you are right. I think that the economy is going to take another big dip.

 

[ilovemk76]

The great new is you can default on more CCs and blame it on the economy.

 

[runwad]

Honestly I think a lot of people have a mild version of PTSD in regards to the economy. Many people suffered, lost their homes, lost their financial stability, etc. and after such a traumatic financial and emotional shock people refuse to accept that things just might be stable and improving.

Really it comes down to perspective and state-of-mind. People say that the economy is not getting any better but I don't see that. I don't see a horrible economy to begin with. I've lived through times that were worse for me personally and for the community/state in which I live.

What's PTSD?

 

[momto2girls]

What's PTSD?

Post Traumatic Stress Disorder

 

[angwill]

My opinion is it depends one where you live and even some parts of some states are doing better or worse than others.

In several states/areas real estate took a nose dive and instead of pulling itself out of the slump it is predicted and is getting worse not better. Some areas didn't have a big issue with housing costs going up or down. Some areas were more industrial/manufacturing and that was the first place to see loss of many jobs and those jobs still are not returning.

It also depends on what is going on with your friends, family, and the immediate area around you. If you know of many without jobs who had to take a big cut in pay/hours to live, lost their homes, etc. it will look worse.

That said no PTSD here but I agree that there will probably be another slump in the economy here where I live.

 

[Poohbug]

I am always surprised when threatened with a second recession. As far as my area is concerned the first one has not ended yet.

DH has not worked more than two months for the last two years. While it is bad enough not to have the income, I think just not being able to work is worse. Can be very discouraging and depressing to be out of work for so long. No real hope for the immediate future either.

 

[mistysue]

I'm happy for those of you in areas doing well. I would say about 10% of the homes in my area are abandoned and bank owned. Of those that are occupied, it would be fair to guess another 10% are either in some phase of forclosure or were purchased out of forclosure in the last year. Those are probably low estimates. I remember last summer getting curious, taking a walk and finding that over 2/3 of the homes on a main road here had bank notices on the front windows.
Four years ago when I looked for a daycare in town there were dozens. We now have TWO- the rest have all closed because of lack of enrollment and the two we now have have lots of openings.
People here seem shocked when they find out DH and I both work. (he was unemployed the last couple months and just got rehired, yay!) Things got really dreary for a while but I have to say that in the last 6 months or so it's actually perked up a bit. I hope we aren't going to dip again because I don't think my area can take it.

 

[Princesca]

The OP might be saying this because of the jobless numbers that came out today. There was zero growth, which probably actually means that we lost jobs, because they seem to always revise those estimates downward.

The employment data set a lot of economists to saying that fears of a double-dip recession were very real.

 

[kydisneyfans]

I can't get a feel to be honest....we didn't take the dive like most of the country did.

Our trip to Disney is August had no traffic at all and the parks were the emptiest I had ever seen them in 12 visits.

-BUT-

Hotel volume here has been high all summer.
I75 is backed up southbound for miles right now due to nothing but heavy volume-so people are on the road now.
Business and hotel construction has resumed.

My wife is working 3 jobs not out of necessity, but because they can't find anyone to replace her. She decides to move to 1 and a different one offers more money to stay.

The biggest hurt in my part of the world IMO is gas prices-it puts an excessive tax on the consumer. If gas were $1 a gallon less, that would put $15-20 a week into people's pockets, which more than likely would mean an extra meal out. More demand is what is needed to create jobs. Creating demand is done by giving people money to spend. Taxes don't need lowered, we just need an answer as to why gas was $4 a gallon when oil was $147 in 2008, but oil is $85 now and gas is still $4 a gallon.

 

[bethy]

I in no way want to be dismissive about what individual families are going through since I am not walking in their shoes. And life is hard. Always has been, always will be.

However, for me personally, after visiting a third world country earlier this year I came home and looked around me in total awe in amazement at the level of luxury our society in general currently maintains.

Despite our very real problems we are as a country still so incredibly fortunate in so many ways.

 

[OceanAnnie]

I think it's going to get harder. We'll be feeling the effects of this economy for a long time.

 

[sdzman]

9.1% unemployment is not a depression. Negative thinking yields negative results.

 

[OceanAnnie]

9.1% unemployment is not a depression. Negative thinking yields negative results.

Which comes first?

 

[mpls_mm]

We still can't seem to find any help. I put an ad on Craigslist for a laborer for $15-20hr depending on experience 2 weeks ago, haven't had any responses.

 

[SandrA9810]

I'm waiting for the crash of the dollar. Seems the government keeping this fake bubble of protection, when in reality, there is nothing to back the dollar up anymore. I feel as if there's going to be a day when the printed dollar holds almost no value.

The people have gone through a recession, but the government has not had that crash yet. Hopefully it'll bring people a little closer to earth. Reconnect and start doing for themselves again. Especially in the farming/agricultural world, bring it back to the people, rather than being controlled by major companies.

Even with these major disasters. So many people are looking for hand outs from the government and FEMA. Communities need to rebuild together, even if they need help from people in other states. Just start on the first house on the block and build it. Shouldn't be by who has the money or who's worse off than the next. Every one needs help, just start one at a time.

 

[ShellyLynn3630]

The great new is you can default on more CCs and blame it on the economy.

Yep.