Dear recession:

[LindaG4458]

My mom, on the other hand, is retired and is living off of her 401K which is now next to nothing. She's gradually taking money out of the bank and hiding the cash. A little extreme, but if you were 70 years old and saw your money disappear like she did, you might think about doing the same thing.

I can understand your mother's point of view. We, too, are retired. Along with other, pretax investments, 9 years ago we bought an annuity with after-tax dollars. Over the years there were ups and downs but, in time, it doubled in value. We thought we were all set. Last month the value was a mere 10% over the amount we had invested. We liquidated the policy. It is going into CDs in several institutions. I'd rather get a small earning than risk the whole amount at this age. We have joked about getting a mattress with a lot of storage capacity.

Initially, when this whole thing started, I was optimistic that it would turn around and we would sit tight with our investments. No more. I could watch the "funny money" (paper gains and losses) with some detachment but, when it gets down to "real money" (invested after-tax cash), it's more than I could take.

 

[VickiVM]

Initially, when this whole thing started, I was optimistic that it would turn around and we would sit tight with our investments. No more. I could watch the "funny money" (paper gains and losses) with some detachment but, when it gets down to "real money" (invested after-tax cash), it's more than I could take.

This past summer when my husband lost his job, (one that he held for over 10 years) we were also hopeful that it was a blessing (poor work environment) and it freed him up to search for a better job...We would never have guessed we would still be in this situation 6 months later. And contrary to what others have commented on, we are very grateful that we are not on the streets, I have a fairly secure job (which doesn't mean much these days) and we have good health insurance. We do not curl up in the fetal position and wring our hands. We still trust that God is in contol of our lives and will always provide.

But to trivialize the stress and pain that some of us are going through by making it seem as though we are only imagining how dire things are because the media is suggesting that is simply insensitive and demeaning. Unless you know someone personally or you yourself are a victim of the fallout, you have no idea how demeaning it is - you are stripped away of your dignity because you no longer can maintain your financial obligations, you face losing your home to foreclosure because the market is so unbalanced right now your chance of selling your home in time to beat foreclosure is not likely much less making any kind of profit to pay off your debt.

But in all fairness to the OP - his post was was initially made in late Oct. and things have progressively gotten worse, so there has been more evidence as of late that show that we are not imagining the financial destruction that has taken place.

 

[Nancy]

...How insulting and insensitive.

I sure don't pay any attention to all the gloom and doom on the tv. I am smart enough to know that most of what they talk about is just to pull in the viewers. But I also know how to listen between the lines and know that there is a grain of truth in there. It's not setting me into panic mode but I do know that there are areas of this country that are not all hunky dory. I don't wear blinders and with my job I get phone calls everyday from people that have lost their jobs and they want to know when their medical benefits end.

I am also fortunate enough to live in an area where we are not being hit as hard as other areas but that is because we got clobbered along time ago and never really came back big time.

But I do know that my DH's job for the first time in 25 years has cut out all OT. Usually in the winter he still got at least 10 hours a week, now they are very strictly beinglimited to 40 hours and the owner has considered shutting down for a week in Jauary (no pay for the workers if he does that).There have been no raises in pay for a couple of years, insurance premiums have tripled in those years too. DH is lucky, he makes good money, I am lucky I have a secure job, but I know so many that are not in our positions. My sister lost her job and has not been able to find work. Very easy to say move to an area where there is work...but that is not an option for everyone. There are other factors involved, family, spouses job, schools for the kids..so many things come into play.

And I would also like to know where the op lives..even the state, cause I'd love to know where this place is where everything is wonderful and not being affected by the economy..and also where gas is so cheap because my gas is still 1.84 a gallon today.

 

[sahd2one]

Unless you know someone personally or you yourself are a victim of the fallout, you have no idea how demeaning it is - you are stripped away of your dignity because you no longer can maintain your financial obligations, you face losing your home to foreclosure because the market is so unbalanced right now your chance of selling your home in time to beat foreclosure is not likely much less making any kind of profit to pay off your debt.

You have no idea if I know someone personal or not. Or if it has hit home. You have no idea how or if I see them coping.

Sorry that you find it demeaning that some of us see silver linings in everything. I paid $1.39 today for gas and will be attending half a dozen ribbon cuttings or ground breakings next month. I see houses being sold and spent a week on a cruiseship where not one cabin was empty. I see people in their lowest of lows volunteering their time and getting employed just through their association with the volunteer organization.

So yes I see positive signs of people not participating in a recession. I am sorry if you find that insulting, but to ignore that there are people who are not singing "Poor, Poor, Pitiful Me" is insulting in itself. I have never once said that there are not people out there having difficulties, but there are people out here who are not. If you are so insulted by something you read, the ignore button works wonders.

 

[Kathi OD]

You have no idea if I know someone personal or not. Or if it has hit home. You have no idea how or if I see them coping.

Sorry that you find it demeaning that some of us see silver linings in everything. I paid $1.39 today for gas and will be attending half a dozen ribbon cuttings or ground breakings next month. I see houses being sold and spent a week on a cruiseship where not one cabin was empty. I see people in their lowest of lows volunteering their time and getting employed just through their association with the volunteer organization.

So yes I see positive signs of people not participating in a recession. I am sorry if you find that insulting, but to ignore that there are people who are not singing "Poor, Poor, Pitiful Me" is insulting in itself. I have never once said that there are not people out there having difficulties, but there are people out here who are not. If you are so insulted by something you read, the ignore button works wonders.

You keep saying you see all these good things, but refuse to say where you see them....not even a general region. Something is starting to stink...I think it smells like a troll.

 

[Metsfan520]

I can see both sides of the coin with this thread...

Yes, some of us are very fortunate that we have not had to deal with the recession through job loss. Yes, gas has gone down (for now.)

But if you lost your job, it wasn't a choice. Yes, you can look for work, keep your head up, pull up by your bootstraps...etc.

But the condescending nature some posters are using is insulting to the people who are down and out. These are not people who live off of welfare to scam the system. These are your friends, neighbors, people at your church.

Some people have said they work hard and take their responsiblilities seriously.

I'm sure that there are many working mothers and fathers who would have said the same months ago.

Yes, there are shoppers at the mall. Yes, there are people in the restaurant. I'm sure there were after 1929 as well. Instead of conveying an air of smugness, consider an air of humility and gratitude. Yes, we are a blessed nation struggling. Remember your fellow Americans at this time of suffering. Donate food to your food bank. Still have the funds to shop at the mall? Make an extra donation of old things at your local thrift shop.

Off my soapbox....

Great post!

 

[wall*e2008]

and also where gas is so cheap because my gas is still 1.84 a gallon today.

I have not paid $1.84 in a good month. Gas seems to vary greatly around the US. I talked to my sister last week and she had yet to pay sub $2.

 

[GoldieSaysMeep]

And I would also like to know where the op lives..even the state, cause I'd love to know where this place is where everything is wonderful and not being affected by the economy..and also where gas is so cheap because my gas is still 1.84 a gallon today.

I'm not the OP, I just came across this thread today but since I posted that I have not seen many issues either, I'll post my location for reference.

I live on the MA/Salem NH border and I work in the financial district of downtown Boston.

I paid $15 to fill the tank of my Ford Focus today...it was about $1.54 a gallon.

I work in car insurance claims. Work continues to offer O/T. We are at full staff, each claims handler getting approx 20-25 claims each per day which is up from when we were not at full staff and getting, like, 7 a day. My guess is they are going to increase O/T or have to hire a few new employees. Benefits are great, co-pays about the same as always. I rarely need to use my health/dental so I'm not even 100% sure what they are but I know I pay $15 a month for my one prescription.

I mentioned being unable to locate parking at malls just before and after xmas. The 3 malls in question were: The Mall at Rockingham Park in Salem, NH, The Square One in Saugus MA and the Burlington Mall in Burlington MA.

I don't dine out at "dinner time" often, but last week while in the Burlington Mall I went to the Rainforest Cafe and had to wait an hour for a table. The place was PACKED. A few weeks prior to that I went to dinner in the North End with one of my girlfriends and we had to leave because we got sick of waiting for a table at one place. I forget what it was called. We ended up going to this little hole in the wall place we love and it was packed but we at least got a ressie.

I also mentioned that I don't know anyone personally who has been laid off except for my ex (and I'm not losing any sleep over his well being... he's a "something I can't say for fear of points" but lets just say karma caught up with him). From what a friend of mine who works there told me, he could have kept his job but since he refuses to get a license or car he couldn't commute to the new job site. He lives in the Portsmouth NH area. So I guess it technically wasn't even a layoff.

My BF knows a few coworkers who had been recently hired and were let go. He works in tech assembly installing touch screens on things that require touch screens... BF was assured by his managers that the handful of layoffs his company did were the only ones they would be doing. Granted you never know. He lives/works in western MA. His company recently obtained better health care benefits for its employees. He went from some no name never heard of them before small provider to Blue Cross which offered him many more options and lower copays.

 

[sahd2one]

But the condescending nature some posters are using is insulting to the people who are down and out. These are not people who live off of welfare to scam the system. These are your friends, neighbors, people at your church.

I am sorry but I find it insulting for people to say that those of us not participating in the recession are sitting around singing "The Sun will Come Up Tomorrow."

Do you really find it so wrong that someone is focused on the 89-90% (when you look at real numbers) of people who are unemployed instead of the 10-11%? I am not going to be able to change those 10-11% at all, but truly believe in the power of positive thinking.

I personally find it insulting that some put blind faith in god who will make it alright but I don't disparage them for having that belief. If it works for them great.

I live in an area where ther are foreclosures, there is umployment and layoffs, but I choose not to focus on the negative. The news does that just fine. I do know that things are not at all as DIRE as some make them out to be. The 70's was far worse and so was the great depression and we are nowhere near that.

Maybe some people are just happy being negative, but I for one refuse to participate in that negativity and see the positive.

 

[tinker&belle]

I am sorry but I find it insulting for people to say that those of us not participating in the recession are sitting around singing "The Sun will Come Up Tomorrow."

Do you really find it so wrong that someone is focused on the 89-90% (when you look at real numbers) of people who are unemployed instead of the 10-11%? I am not going to be able to change those 10-11% at all, but truly believe in the power of positive thinking.

I personally find it insulting that some put blind faith in god who will make it alright but I don't disparage them for having that belief. If it works for them great.

I live in an area where ther are foreclosures, there is umployment and layoffs, but I choose not to focus on the negative. The news does that just fine. I do know that things are not at all as DIRE as some make them out to be. The 70's was far worse and so was the great depression and we are nowhere near that.

Maybe some people are just happy being negative, but I for one refuse to participate in that negativity and see the positive.

Not sure why I was quoted for this statement?

 

[rentayenta]

Dear OP:
We did not make a choice whether to "participate" in a recession or not - it took us unwillingly. Don't want to be a downer, but when you're among the statistics of losing job, losing home, losing savings, etc., "The Sun Will Come Up Tomorrow" just isn't gonna undo all of the damage we've endured.

I totally agree and I am sorry it's hit your family.

Yes. It is that I see everyone I know and people I don't know with 50% more to live on they were just this past summer. A drop in gas prices in some places OVER 50% is a HUGE economic boost to everyone's wallet.

There is a message of hope that underlies this thread. There are people out there who have said that a recession is not going to change how they live their lives to the point of curling up in a ball and just letting the naysayers have their way. Maybe those who want to let everyone know how bad it is could start their own thread and let those of us who are not participating in the "recession" could keep our positive attitude going!

Since when is admitting there is a recession considered "rolling up in a ball"? Ever hear the phrase thou doest protest too much?








Just because some may not be feeling the effects of the current recession doesn't make it any less real for those who are. To think so is egotistical at best.

 

[sahd2one]

Just because some may not be feeling the effects of the current recession doesn't make it any less real for those who are. To think so is egotistical at best.

Waiting for those feeling the effects of the recession to start their own thread to make it real for them. I am sorry I don't play the some are feeling bad, so we all should card.

This is a thread about Hope. After all PEBO talks about it all the time, so I wonder why it seems to be missing here unless there really are some people who are only happy when it is all negative.

 

[eliza61]

Absolutely nothing wrong with hope. I am very optimistic about the next few years especially since we now have new leadership but here is your original post

We have decided not to participate. The parking lots of the shopping areas are full so are those around the restaurants.

The local community banks are lending money for small businesses and for home buyers.

You may be trying to bring down our country's mood, but we are not going to fall for your tricks. We are supporting those in need and giving business to those who are in our community.

Go find another area to blast on about, because we are not listening to you or your friends in the media.

To me this implies not hope but that the recession is some made up trick of the media and I think that's what a lot of the posters are disagreeing to. We can be very hopeful while at the same time acknowledging that the recession is not some type of program we volunteered to participate in. The first step in solving a problem is acknowledging that there is a problem.

 

[padams]

Hey sahd2one,

Since I've flamed you on your other thread, I think it's only fair (in the spirit of competition, naturally) for me to say that I agree with you on this one. I wish I could remember who said it but I just saw an old quote the other day from someone like Sam Walton who said "I choose not to participate in the recession."

While there are many families and companies that are currently struggling, much of the economic slowdown is due to business and individuals sitting on the sidelines (I knew you'd like the sports analogy) waiting to see what the new quarterback (pres-elect) does in the game. Companies are waiting to make investments (in other words, jobs) until they see what taxes increases and regulations are coming. I know lots of people who upon hearing there is a recession decided to cut back their spending. I'm not a big Bush fan, but he had it right when after 9/11, he told Americans to go out and spend money. If we all spend nothing, the economy collapses. The economy can recover if the money sitting on the sidelines goes back into the game. However, if the new quarterback makes plays that keep that money on the sidelines or takes it away, then we aren't going to have a recovery any time soon.

 

[rentayenta]

Waiting for those feeling the effects of the recession to start their own thread to make it real for them. I am sorry I don't play the some are feeling bad, so we all should card.

This is a thread about Hope. After all PEBO talks about it all the time, so I wonder why it seems to be missing here unless there really are some people who are only happy when it is all negative.

I think you are confusing reality with being negative. Admitting I need to lose 20 lb isn't negative, it's realistic. Same with the recession. And who is asking anyone to feel bad? I am happy for those unaffected and give my empathy to those who are.

I'm all about hope but I fail to see how negating another's reality spreads hope. Clearly this thread has not accomplished that nor have any of the other non-recession threads. I think it is aimed to make those who are suffering feel worse. I guess it's the mental health therapist in me.

Cheers and Happy New Year.

 

[Pinnie]

I know lots of people who upon hearing there is a recession decided to cut back their spending. I'm not a big Bush fan, but he had it right when after 9/11, he told Americans to go out and spend money. If we all spend nothing, the economy collapses. The economy can recover if the money sitting on the sidelines goes back into the game.

Tell me how those who have lost their jobs and are doing their danged best to make ends meet to "go out and spend money."

Many people in my state are doing what they can to make COBRA payments, mortgage and to put food on the tables. Now they are supposed to go out and buy, buy, buy?

Please, tell us HOW to do that. Your wisdom is much needed.

pinnie

 

[Pinnie]

However, if the new quarterback makes plays that keep that money on the sidelines or takes it away, then we aren't going to have a recovery any time soon.

Even the new "quarterback" admits to a rough road ahead. Guess it just isn't the MEDIA.

From: http://www.msnbc.msn.com/id/28096219/

The economic recession will get significantly worse before it starts to improve, President-elect Barack Obama said, seeking in an interview broadcast Sunday to tamp down expectations as he prepares to assume the presidency in 44 days.

“If you look at the unemployment numbers ... the fragility of the financial system and the fact that it’s an international system,” the recession “is a big problem, and it’s going to get worse,” Obama told NBC News’ Tom Brokaw on Saturday. The interview aired Sunday on NBC’s “Meet the Press.”


pinnie

 

[Missy1961]

Waiting for those feeling the effects of the recession to start their own thread to make it real for them. I am sorry I don't play the some are feeling bad, so we all should card.

This is a thread about Hope. After all PEBO talks about it all the time, so I wonder why it seems to be missing here unless there really are some people who are only happy when it is all negative.

I guess PEBO=President elect Barack Obama? Still can't type that, huh?

 

[rentayenta]

Tell me how those who have lost their jobs and are doing their danged best to make ends meet to "go out and spend money."

Many people in my state are doing what they can to make COBRA payments, mortgage and to put food on the tables. Now they are supposed to go out and buy, buy, buy?

Please, tell us HOW to do that. Your wisdom is much needed.

pinnie

I work in mental health and I cannot tell you the increase we have seen in suicidality and hopelessness surrounding finances.

 

[tar heel]

I've been a DISer for years, and there have been very few threads that annoyed me like this one. I truly hope the OP is a pot stirrer instead of what he appears to be on this thread.