Is the economy really that bad?

[duckfan78]

I was just wondering, if there was anyone else on here that didn't think the economy is that bad and actually pretty strong? I swear if I didn't listen to the MSM, and all their negativity in reguard to the economy, I would think our country was doing rather well.

First off, I work in manufacturing and I have to tell ya, we are more busy now, then we have been since before 9/11. We have so many orders we can't keep up. We have been trying to hire people also, and honestly, its hard to find anyone. Our company is in a very blue collar community also. And I know in a slow economy, manufacturing is the first one hit. And its not like we are consentrated in some high tech, niche field, we do make a product which is a commonly used product by OEM's and distributors.

I know everyone is talking about the raise in unemployment, but that number is still typcially low. And as for the housing market and mortages, I believe those problems came from people taking them who couldn't afford them and from companies giving money to people they knew could not afford to pay them.

I know gas prices are high, but without drilling for more oil, it won't come down without doing so.

So again, is there anyone out there that see it the same way I do?

 

[Master Mason]

yes the economy is bad, we are not in a recession, but we are damn close. Is it as bad as the doom and gloom that is being painted, no, but it most certainly has been better than it is now.

 

[chris1gill]

With unemployment at 6.2% and foreclosures at an all time high, hundreds of thousands this year alone, overall income down when adjusted to inflation, nevermind the failure of Freddie and Fanny and other bank closures in the last month, costing taxpayers billions of dollars, I'd say things are not looking that good. We're also at an all time trade deficit which obviously does not help.

 

[undercovermom]

I work for a large insurance conglomerate, we also have a division that does the same kind of financial work as the late Bear Stearns (deceased March 2008) and the ailing Lehman Brothers (about to be bailed out by the government). We don't have the same headache, because the insurance side of the business is very strong even in this soft market.

still, the company reported billions in unrealized losses these past two quarters.

as a stockholder I have a few "unrealized losses" as well. I've been buying stock in the company through an employee incentive program. in January the stock was worth $50 per share. Today it closed at about $13 per share. that stick is part of my retirement package, so a devaluation reprsents a significant reduction in my retirement savings. thank goodness I am a long way from retirement age.

 

[LotsOfQuestions]

I was just wondering, if there was anyone else on here that didn't think the economy is that bad and actually pretty strong? I swear if I didn't listen to the MSM, and all their negativity in reguard to the economy, I would think our country was doing rather well.

First off, I work in manufacturing and I have to tell ya, we are more busy now, then we have been since before 9/11. We have so many orders we can't keep up. We have been trying to hire people also, and honestly, its hard to find anyone. Our company is in a very blue collar community also. And I know in a slow economy, manufacturing is the first one hit. And its not like we are consentrated in some high tech, niche field, we do make a product which is a commonly used product by OEM's and distributors.

I know everyone is talking about the raise in unemployment, but that number is still typcially low. And as for the housing market and mortages, I believe those problems came from people taking them who couldn't afford them and from companies giving money to people they knew could not afford to pay them.

I know gas prices are high, but without drilling for more oil, it won't come down without doing so.

So again, is there anyone out there that see it the same way I do?

Yes, it is bad.

Glad your plant hasn't been having problems. We have had many plants close around here. And there are many expected layoffs during layoff season (November and December).

 

[profdsny]

Funny question. We needed a laugh tonight.

 

[jimmiej]

While we do have some serious problems, it's not as bad the dems would have us believe. You want a bad economy? Look back at the late 70s.

Another point: The economy during W's eight years has been mostly good. I get irritated when others say our economy has been bad during W's presidency.

 

[LotsOfQuestions]

While we do have some serious problems, it's not as bad the dems would have us believe. You want a bad economy? Look back at the late 70s.

Another point: The economy during W's eight years has been mostly good. I get irritated when others say our economy has been bad during W's presidency.

I can say, with 100% confidence, that DH's industry and even ourselves are not as well off as we were 8 years ago.

• Benefits have been cut drastically
• Pensions frozen
• Even though cost of living has gone up, raises have disappeared and salaries have been frozen
• double the amount of layoffs.

 

[undercovermom]

when Bill Clinton left office the government had a surplus. now we've got the largest deficit in our history. I don't see that as a good thing for our economy.

 

[jimmiej]

when Bill Clinton left office the government had a surplus. now we've got the largest deficit in our history. I don't see that as a good thing for our economy.

Did 9/11 & the subsequent war have anything to do with that? Did the Republican congress (led by Newt Gingrich) help the Bill Clinton economy?

 

[LotsOfQuestions]

Did 9/11 & the subsequent war have anything to do with that? Did the Republican congress (led by Newt Gingrich) help the Bill Clinton economy?

Well, they certainly didn't help the Republican president when he was in office.

And I would venture to guess, the Iraq war, which had nothing to do with 9/11 (although somebody forgot to tell Palin that even the Republicans don't link 9/11 and Iraq together anymore) and which sucks billions of dollars from the economy didn't help things.

 

[undercovermom]

go into walmart, target, costco...everything is made in China these days. there are some products where you simply cannot find a version made in this country.

and how many companies have thier customer service call-in centers in India?

not a good thing.

 

[tasha99]

Yeah, it's bad. The way I can tell is that we've had several clients suddenly not pay us.

 

[DisMN]

I can say, with 100% confidence, that DH's industry and even ourselves are not as well off as we were 8 years ago.

• Benefits have been cut drastically
• Pensions frozen
• Even though cost of living has gone up, raises have disappeared and salaries have been frozen
• double the amount of layoffs.

And as is the case in our community and for DH's job, pension GONE. DH two years shy of retirement and his pension was completely wiped out. DH and the men he works with will not be able to retire. Period. Sure, they got their jobs back after a 12 month layoff but still........the loss of the pension is pretty bad.

Cost of living is up and moving higher by the minute. I can see items go up in price from one shopping trip to the next.

Yes, the economy is that bad and you're very very lucky if you haven't been affected by it.

 

["Got Disney"]

never mind

 

[Pin Wizard]

as a stockholder I have a few "unrealized losses" as well. I've been buying stock in the company through an employee incentive program. in January the stock was worth $50 per share. Today it closed at about $13 per share. that stick is part of my retirement package, so a devaluation reprsents a significant reduction in my retirement savings. thank goodness I am a long way from retirement age.

I feel your pain! I bought company stock when I worked at Tenet Healthcare. I paid between $40 and $45 a share. They've been in the hole a long time now. Today's price? $6.48.

 

[simpilotswife]

Just wanted to add a reminder....part of the reason that the cost of oil is so high is NOT because we need to drill but rather the dollar sucks in relation to the world economy....one more thing to thank W for.

 

[Pin Wizard]

Cost of living is up and moving higher by the minute. I can see items go up in price from one shopping trip to the next.

Yes, the economy is that bad and you're very very lucky if you haven't been affected by it.

Shopping trips are killers. What's with 85 cents for a mini container of yogurt? Then only certain flavors will be on sale...never DS's favorite either. I've quit buying yogurt.

 

[bsnyder]

go into walmart, target, costco...everything is made in China these days. there are some products where you simply cannot find a version made in this country.

This is actually a good thing, especially for those in lower income brackets. Wal-Mart increases their purchasing power, especially for the every day items that make up a large part of the household budget.

The economy definitely has some problems. And it's hard to know if the worst is behind us yet.

But the U.S. economy is incredibly diverse - even within some of the sectors that are having a hard time, like the housing market, the problems aren't occuring everywhere, but are confined to a handful of states.

 

[#1hockeymom]

Michigan checking in to say the economy sucks! Saying that, I am a firm McCain/Palin supporter as I believe they will be able to get the economy back on track better than Obama.

Read My Lipstick!