Anyone NOT Worried About the Upcoming "Crisis"?

[schlepsnort]

I'm stressed by it, when I go grocery shopping or to the gas station. I am on disability and my dh works as much overtime as he possibly can.
I try not to listen to the news because it is all gloom and doom and I can only hope that whoever replaces Bush makes changes quickly after taking office. I don't honestly care what the changes are, just that they ease the strain on our nation. I'm tired of hearing about how our country is so concerned about every other nation instead of our own.
When I grocery shop I go to places like Aldi or Sav A Lot instead of Walmart or Kroger. I definitely buy way less than we used to. It's almost like a forced diet. We are a family of 5 so I make sure that my kids have the food they need while DH and I just don't eat as much or will skip meals to save money.
My dh drives a neon and I have a Malibu, I thank God that we never had the time to go get a minivan when we had planned to last year. We are actually talking about getting a scooter for the errands around town instead of driving a car.
We no longer put money in our savings weekly like we used to.
We are rolling with the 'punches' as someone put it but the punches are starting to become more than 'love taps'.
Last summer my kids were able to do soccer camp and other city recreation activities our town offers for a fee and this year they are not.
Yes we are going to Disney but that is only because it was paid for before gas prices went up as high as they have and milk was not almost $4 a gallon.And I was able to get roundtrip tickets for all of us for under $1000.

I do not see an end in sight and it scares me, to be honest.

 

[Disneycrazymom]

I will also "show my age" and say my first house had an interest rate of 12%. And we were happy to get it. We got to buy gas on odd # days and waited in line to get it! We made it and we will make it this time too. Is it better when gas is cheep and plentiful? Of course but we just do what we need to do. Times will turn around again, They are not as bad as they could be and I don't think it will get that bad again.

I think Loco4Dis is very smart and right on the money!

 

[mpls_mm]

I am glad I am not the only one. I worry I should be more worried than I am. ExDH got laid off and we were expecting a long bout of unemployment, but he found a better paying job pretty quickly. I even bought a new SUV recently, even though everyone kept saying not to. I only drive about 25 miles a week. I have noticed some higher prices, but it seems like some luxury items we buy have gone down so it is evening out. My business is still busy but we are doing a little more advertising and some other marketing just in case but have had some record months. People are still spending. If you watch the news too much, you do worry that the bottom will fall out but this is a market correction. The rates on my CD's dropped at the bank, but you can buy stocks pretty cheap now. As long as you are patient, it should bounce back.

 

[BuzznBelle'smom]

I don't worry a whole lot, either. My DH just got a great new job (25% pay increase!!!) that will require us to move to a new state--NH, where there's no sales tax or state income tax. It's a corporate relocation, and they seem to be throwing money at us to get us in our new house. The house will be smaller, and more expensive (NH has higher property taxes), but a great school district and we're already planning our remodel/addition.

So, jobs are out there, we're doing okay. Certainly, I'm not thrilled at how food and gas prices have been going. But I think that's an issue of people's priorities--we seem to want the government to pay for all these things, so taxes go up, and we don't want to have to make any kind of sacrifice or tolerate oil rigs in our line of vision or near anything where they may affect wildlife to any degree whatsoever. I think the media has a vested interest in keeping people pessimistic. There are an awful lot of people with agendas out there.

 

[dananbethany]

Well not everyone is fortunate to have a budget so roomy that it can be worked around any economy.

My husband has a very secure job (he is in the Army, so we don't have to worry about him being laid off or losing our benefits) but he has put off retirement because he'd rather not be looking for a job right now.

Most likely anyone on this website can't be doing too badly because we are planning trips to Disney World. But my trip is a year away so that I can save enough.

We aren't hurting. We have a roof over our head and food to eat and a car that runs. But I can't just shrug off gas prices and grocery prices that increase seemingly every day. I do worry whether we will be able to afford that trip a year from now. Who knows how much gas will cost by then or ticket prices or food.

Roomy budget? Our budget is so tight that it squeaks!

 

[dvcgirl]

It concerns me in looking at it from a "larger picture" perspective. I have plenty of room in my monthly budget for the rise in energy and gas prices, but a great many Americans do not. Many Americans are in debt to begin with and so they're not in a position to handle a 20% rise in gas prices and up to a 10% rise in food prices. We have a negative national savings rate....nothing in the bank for a rainy day. This wasn't the case in the 70s, 80s and 90s....Americans had a "rainy day fund" back then.

So call this economic event what you will....recession, slow-down, muddle through economy.....whatever you call it, we're not going to bounce out of this thing like a jack rabbit.

There's also an awful lot of wealth destruction going on these days as well. Housing values continue to fall, the stock market is down almost 12% from October highs and 7% for the year. So even if you can afford that trip to the pump and the grocery store, it's fairly likely that you've lost a bit of wealth due to this event.

Will the earth keep spinning......sure. However, a lot of our GDP growth in the past five years came from a really lax monetary policy and cheap money for all. That source of funding is gone. So even if oil prices drop in a big way, I'm still having a tough time figuring out how we grow this economy in the next year or two.

 

[kwhite1022]

Heh, I dont have to watch the news to get a feel for how bad things really are, I live in Michigan where we have been dealing with a recession for over 2 years now. People in other states that are just entering into this fun ride are just beginning to feel the brunt of what is to come. For me, our family started preparing for this 2 years ago, when we got debt free, we worked our butts off to sell anything that wasnt nailed down and hubby worked 70+ hours a week, to put us in a position to handle whatever gets thrown at us. At the end of that we took our kids on their first Disney vacation, paid in cash. Now, we really would love to take our youngest there (as she stayed home last time) and 2009 was supposed to be the year, but I will wait and see where things stand before we book. We have canceled all plans to go anywhere this summer, but mostly because we chose to use our stimulas money to pay for our house to be painted and a new mini deck be built onto our back entryway. Im thankful that I had basically 2 years of training being a tightwad to help me adjust our budget for all the rising costs. I dont think worrying constantly over whats to come is the right answer, but keeping an eye on things is never a bad idea.

 

[Todd&Copper]

I'm not worried, but I do feel alot of people overextended themsleves without considering the later economic consequences of their actions. Lots of people charge up stuff on their cc's that they don't really "need" [honestly, we don't "need" cell phones, iPods, Coach bags, and LCD HD TVs, but the lower and middle classes are clamoring for these "luxury" items and more or less deeming them necessities]. People bought houses imagining a quick flip and tens of thousands in profit, rather than looking for a place to live in for the next 10 - 20 years. Women got breast augmentation and men got pec implants rather than save the money in an emergency fund. People will still pay $4 a day for a damn latte at Starbucks, $5 for a pack of smokes, and $12 for a 6-pack of beer then cry that they're poor. No one wants to take any personal responsibility for anything. Too bad, so sad, but times are not nearly as tough as some of these ridiculous sob stories would make you believe.

 

[eh24fan]

wow! guess nobody posting is on a fixed income (i.e., retired)! It's a killer to pay more at the pumps and more at the store when there's no hope of a raise or a bonus (... other than that one-time stimulus check).

And, you think it's tough with gas and groceries, wait until you see the impact of traveling by air! It'll be just as bad as gassing up your car for a road trip. The fuel crisis is killing the airlines - so they're shrinking supply which will mean more for an airline ticket! Probably won't feel the full impact until after summer as most tickets for summer vacation were purchased a while ago. Hang on to your hats because it's coming!

Honkering down for a cruel ride.............

Not to belittle your comment, but I hate when people talk about a "fixed" income, as if those of us who aren't retired yet can just increase our income with the snap of our fingers. Realistically, with things the way they are, most of us aren't getting raises or bonuses anyway. I work in the non-profit sector and I'm wondering if I need to start looking for a job soon. That scares the crap out of me because things aren't exactly good in the part-time with morning hours job market.

 

[MermaidsMom]

Not trying to interject politics in here, but…remember that we're getting our "news" about the economy from a national media of whom the vast majority are actively campaigning for a certain presidential candidate. Their objective is to paint an entirely bleak picture to pave the way for their candidate to win. Moreover, the vast majority of "reporters" know as much about economics as they do about astrophysics. Consumer prices are rising because the cost of oil is rising, due to a huge increase in demand, mostly from China. Since everything we buy is trucked around the country, those fuel costs increase the costs of goods. Our political class has chosen not to drill for oil in this country, where we have vast reserves, making us dependent on foreign oil.

Ahh! We must have been separated at birth! I completely and totally agree with you on this and say this almost every day.

 

[MermaidsMom]

Not to belittle your comment, but I hate when people talk about a "fixed" income, as if those of us who aren't retired yet can just increase our income with the snap of our fingers. Realistically, with things the way they are, most of us aren't getting raises or bonuses anyway. I work in the non-profit sector and I'm wondering if I need to start looking for a job soon. That scares the crap out of me because things aren't exactly good in the part-time with morning hours job market.

Great point! Fixed incomes usually get an increase each year however small. Our income hasn't changed in 4 years. Actually it's decreased due to larger co-pays and deductibles for insurances.

 

[Green Tea]

I think much is caused by the media. I know if I were to want to buy a house today my situation would be no less favorable than it was 6 months or a year ago. Gas is higher, but it isn't going to break me.

 

[tinkarooni]

I don't disagree about the condition of the economy and the increasing prices of not only gas but food and life staples. I'm just too busy waiting for the bird flu and killer bees to get me.

Honestly, I watch as little of the daily news as possible. I don't need to watch it to know what's happening in the world. I selectively read the paper and in doing so I sleep better....except for that occasional nightmare about THE BIRDS!!!! NOT THE BIRDS!!!!

The media needs something else to do....hopefully it's not another killer cyclone or a devastating flood.....

 

[DebMcDonald]

I'm a little worried. I'm trying hard to pay off any credit card debt with that gone I have much more disposable income. The only vacation we have planned is two weeks on the cape and that will cost us very little. I do home daycare for a living and I definitely feel it as no one is looking for full-time care any longer, everyone wants part-time as they have a family member watching that child for free or the husband and wife arrange their schedule accordingly, so those empty days are a pay loss for me.

 

[MattM]

I certainly agree with Loco. The "news" you are getting is a load of crap for two reasons.

1.) The "news" business is just that...a business. They are doing what they need to do to increase ad revenue, etc. Negative news sells, so of course you wouldnt expect to hear anything positive about the economy.

2.) It is unprecedented that you have "news" sources openly endorsing political candidates (NBC is BY FAR the worst, see: Matthews, Olbermann, etc). How can you expect to hear anything good about an economy that is half run by a political party that is other than that of Obama's? It's truly unbelievable.

And on another note, everyone is quick to blame Bush for everything. We call it Bushderangement Syndrome (BS). Let's not forget who has controlled Congress for the past year and a half.

And last, the blame most needs to be put on the American consumer. This could even be you. For example. "Wow, look at that nice new 50" plasma TV over there, I HAVE to have that!" Problem is, that person may not have a single dollar to their name. VISA to the rescue! The irresponsibility of the American consumer's financial situation is ridiculous. They may not have a dollar in savings, or IRA, or their children's college fund. But by God, they are driving that brand new Cadillac Escalade with 4 DVD screens in the back seat, living in a house that they know they cant afford, and watching a new TV with custom-installed sound system. People need to start acting their wage.

Unfortunately, the current problems our economy is facing right now originated by the reflection in the mirror in many cases. We need to stop expecting government to take care of our problems and start taking care of ourselves. Then, everything will fall in to place.

www.daveramsey.com

 

[a_sailor's_wife]

Well not everyone is fortunate to have a budget so roomy that it can be worked around any economy.

My husband has a very secure job (he is in the Army, so we don't have to worry about him being laid off or losing our benefits) but he has put off retirement because he'd rather not be looking for a job right now.

Most likely anyone on this website can't be doing too badly because we are planning trips to Disney World. But my trip is a year away so that I can save enough.

We aren't hurting. We have a roof over our head and food to eat and a car that runs. But I can't just shrug off gas prices and grocery prices that increase seemingly every day. I do worry whether we will be able to afford that trip a year from now. Who knows how much gas will cost by then or ticket prices or food.

We are also military. I completely agree that not everyone can work around the economy. And for those living the military lifestyle as we will be soon, it makes it even harder when you're having to find a job and relocate.

We aren't hurting either and we are comfortable, but we do wonder what lies ahead of us concerning the economy and how we can afford items. We certainly won't be able to take vacations as often and will have to give up other things.

For us in America is it hard to even imagine $5 a gallon gas. However, other countries have been paying that and more for a while now. We're just catching up. People will have to change lifestyles, budget, and try hard to save.

We are saving now for "what may come", but I'm not going to get myself in a tizzy over worrying about. I do feel for those who can't work around the economy and who are struggling. Those who are comfortable and have extra to spare such as myself should help out a little by doing small things. We try to donate monthly to our local food pantry for those who are in need. Anything can help others and we want to do that while we can.

 

[las3888]

I certainly agree with Loco. The "news" you are getting is a load of crap for two reasons.

1.) The "news" business is just that...a business. They are doing what they need to do to increase ad revenue, etc. Negative news sells, so of course you wouldnt expect to hear anything positive about the economy.

2.) It is unprecedented that you have "news" sources openly endorsing political candidates (NBC is BY FAR the worst, see: Matthews, Olbermann, etc). How can you expect to hear anything good about an economy that is half run by a political party that is other than that of Obama's? It's truly unbelievable.

And on another note, everyone is quick to blame Bush for everything. We call it Bushderangement Syndrome (BS). Let's not forget who has controlled Congress for the past year and a half.

And last, the blame most needs to be put on the American consumer. This could even be you. For example. "Wow, look at that nice new 50" plasma TV over there, I HAVE to have that!" Problem is, that person may not have a single dollar to their name. VISA to the rescue! The irresponsibility of the American consumer's financial situation is ridiculous. They may not have a dollar in savings, or IRA, or their children's college fund. But by God, they are driving that brand new Cadillac Escalade with 4 DVD screens in the back seat, living in a house that they know they cant afford, and watching a new TV with custom-installed sound system. People need to start acting their wage.

Unfortunately, the current problems our economy is facing right now originated by the reflection in the mirror in many cases. We need to stop expecting government to take care of our problems and start taking care of ourselves. Then, everything will fall in to place.

www.daveramsey.com

You sound like a fellow ditto-head???!!!

 

[MattM]

^ As in Rush? I listen to him now and then. I agree with some, but not all he says. But he is certainly entertaining.

 

[mickeyfan1226]

I budgeted our trip next year, (we're driving), with gas at $4/gallon, now I'm kind of wishing I would have put it at $6. I'm betting gas prices go down in January though, the oil companies are just resetting the price so when it goes back down to $3.25 a gallon we'll all be grateful and think how fortunate we are, because as a society we are too forgetful to realize that 3 years ago we were paying $1.50.

Climbing down off of my soapbox now....

I'm also buying our tickets for next year immediately after I open and cash our tax stimulus check, I'm afraid of how high the House of Mouse will "adjust" the 2009 ticket prices.

How would I find out what the price would be for our trip in aug 09 at this time. I would like to book at a cheaper rate but have not been able to find prices.

 

[nicknack]

I don't really understand this idea that it's the news' fault and everything is really just fine. When I go to the store and milk is $4.29 a gallon where it was $3.59 a gallon a few weeks ago, that's not a Jedi mind trick perpetrated by the liberals at MSNBC, that's reality.

I don't watch much news at all, except the local news for weather and traffic. I can see with my own eyes that my grocery bill has crept up higher and higher each week.

(And no, I don't have a plasma TV of any size. We have one TV, one DVD player, basic cable and one home computer. No video game systems. One cell phone that my husband carries so his work can get in touch with him.
We have one credit card that my husband uses for when he has to travel for work and one charge card that he can use to buy his uniforms and things. Those are both paid off when he gets reimbursed by the Army. )