The recession is OVER!!!

[binny]

At least that is what someone said on the National news the other day. I didnt hear it so I cant tell you where it came from. My relocation specialist called to tell me that the other day.


Yeah, so hows it goin in YOUR neck of the woods?




Now I will say that I didnt see a whole lot of here in the common every day things like grocery shopping, going out to eat, movies etc. Those types of things seem not to have been affected in my area. I have also seen new businesses open up lately and have seen "We're hiring" signs in more windows.

The big things though like house prices have NOT rebounded and in fact seem to be holding steady at a much lower than normal price (not the inflated price but pre-boom prices)


What are you seeing in your area?

 

[happygirl]

In my area GM and Chrysler are closing down several dealership. SO that never helps anything. Gas is up. groceries are up.

 

[The Mystery Machine]

BIL is about laid off. Other BIL had his own business and is now in trouble (brick layer). My brother may be laid off. Job loss in St. Louis Mo is steady however this has been happening for 5yrs. Headquarters have been packing it up and taking it south.

I have someone installing my fence right now that had to let go his whole crew. He said he broke even last yr.

I am in a new housing development. It appears that it may be OK, however who knows what is on their balance sheets.

 

[ols386]

I think the recession is far from over. Especially in Michigan, with all the automotive lay-offs, and now the dealership closures announced last week. I wonder which national news source said the recession is over? CNN or NBC would be my first two guesses.

 

[Cantw8]

then why am I down over 60K in my 401K Somebody better look like finding my money

 

[Jennasis]

Some analysts this morning on the Today Show said that the economy may finally have "bottomed out", but I don't think this equates to RECESSION OVER just yet. My prayer is that if things truly have bottomed out, then we start to see that blessed RECOVERY soon.

Many of my clients have lost their jobs, which in turn usually translates into a loss for me. I experienced this just this past week. I can't afford to lose any more clients....literally.

GAs is up because of the pending Memorial Day/summer. Not that it matters...we aren't going anywhere.

 

[bgirl29]

I did see someone talking to Diane Saywer on GMA about this the other day. I do not remember what her name was but they also referred to other "experts" that had made the same statement. The woman also stated that unemployment typically lags way behind the end of a recession, so expect job losses for another 10 to 12 months before things would stabilize and then start to improve.

I too am from MI and yeah things are not too great. I am just hoping that this does indicate a reason for some optimism. We can only wait and see.

 

[turkeymama]

Home prices are holding steady here. They never went way up with the boom anyway.

DH lost his job a couple of months ago (mortgage business), but they gave us several weeks notice that it was coming. He ended up with a decent severance package (good thing he was in management) and he was able to find a new job relatively quick.

Grocery prices are up slightly, but barely noticeable. We quit buying cokes and junk food.

 

[PatsMom]

I've read several analysts who say we may have hit the bottom. They see signs of what they call "green shoots". Others say "those green shoots got no roots".

 

[jodifla]

Some analysts this morning on the Today Show said that the economy may finally have "bottomed out", but I don't think this equates to RECESSION OVER just yet. My prayer is that if things truly have bottomed out, then we start to see that blessed RECOVERY soon.

Many of my clients have lost their jobs, which in turn usually translates into a loss for me. I experienced this just this past week. I can't afford to lose any more clients....literally.

GAs is up because of the pending Memorial Day/summer. Not that it matters...we aren't going anywhere.

Right. I haven't heard any economist say the recession is over. Instead they see indicators that it is bottoming out. If that's the case, then the next question is of the recover looks like a "V" (quick) a "U" (slow") or a " W" heading back up before something else whaps it back down.

 

[FINFAN]

I think the Recession is just getting moved over a bit to make room for Inflation.

 

[zulaya]

I'm in MN. I think there are pockets where you can see recession clearly. Like the auto market. We have several dealers in town that are being told to close doors.

Gas...well, it's up, but it's not $4 a gallon. It's $2.20 here. But the PP who talked about a build up to Memorial Day is probably right.

Groceries...I have to say prices are coming down on just about everything. Milk is $1.79 a gallon! That's just unheard of! I mean, it was over $3 a gallon last year. And we go through milk like it's going out of style at my house. Have seen a lot of savings? Yes and no. I see the prices are going down, but with 2 teens that eat like the world is coming to an end, you can imagine my food bill.

I'm in direct sales and I think I can classify my personal business as "consistent". However, I feel I am having to work harder to maintain my business at that consistent level than in years past. It's not that business isn't there; it is. I just coasted for a while and now I'm having to put a bit more energy into maintaining the level of business I'm accustomed to.

 

[happygirl]

I'm in MN. I think there are pockets where you can see recession clearly. Like the auto market. We have several dealers in town that are being told to close doors.

Gas...well, it's up, but it's not $4 a gallon. It's $2.20 here. But the PP who talked about a build up to Memorial Day is probably right.

Groceries...I have to say prices are coming down on just about everything. Milk is $1.79 a gallon! That's just unheard of! I mean, it was over $3 a gallon last year. And we go through milk like it's going out of style at my house. Have seen a lot of savings? Yes and no. I see the prices are going down, but with 2 teens that eat like the world is coming to an end, you can imagine my food bill.

I'm in direct sales and I think I can classify my personal business as "consistent". However, I feel I am having to work harder to maintain my business at that consistent level than in years past. It's not that business isn't there; it is. I just coasted for a while and now I'm having to put a bit more energy into maintaining the level of business I'm accustomed to.

I wish milk was that cheap. It's still 2.79 ish.

 

[LuvOrlando]

Well 2 of the 4 people I know who lost their jobs now have jobs. 1 was in Pharma sales and is now in medical equipment. The other was in IT Networking and is now with a company that maintains systems of mid to small size businesses since most of the big businesses moved their IT operations to another continent/country that shall remain nameless.

I just filled up my car today and noticed the gas prices are on the move up again. Let me go on record saying that if prices swing up any further whatever stabilizing we have had will crumble... our population (AKA our economy - AKA demand) simply can not support any further chips into our daily expenses. The prices of our daily market basket must stabilize for us to continue to regain strength.

BTW, the nonsense that this countries aggregate medical expenses did any of this damage to our economy is 100% pure garbage. While my sympathies definitely lay with the people hurt by enormous medical expenses this is not an effect felt by the majority of spenders in this country. Most spenders are in the middle class and are safely insulated by employer offered health insurance. The very poor have State or Federal help and this has been around for decades. There is a tiny population which is squished in the cracks and they need help (bankruptcy should be re-allowed), but the idea that this is an aggregate problem is a fallacy. Complete and utter nonsense.

Most market math is done based upon a particular selection of goods and services known as the Market Basket http://www.bls.gov/cpi/cpifaq.htm Gasoline, as a constant expense, has a pretty profound effect upon these numbers. Even someone not educated in Economics should be able to see the connection and the potential mess from effects.

While medical prices can have an enormous effect upon an individual family there is no way to have a huge unplanned swing up in costs across this country's entire population (like we can have with gasoline- like happened a few months ago). Also, if medical costs were in any way related how does one explain the fact the entire globe is having problems with their economies? ... even the countries where people do not pay out of pocket for medical expenses?

It simply doesn't fit.

 

[BibbidiBobbidiBOO]

DH will be getting a 2% pay CUT in July, he is not allowed to travel on business (which is a huge part of his job and pretty much necessary). His reserve drills have decreased, they did not allow him to travel to a mandatory class (though he still had to know/teach the material), and they are cutting out other "mandatory" meetings. His reserve job may go poof in a year.

Our favorite pizza place closed last week. It costs more than the chain places, but was SO worth it.

We don't stress over our stock investments, in fact we bought more a month or so ago.

On the plus side, we went to Disney in March/April, going on a vacation early August. We are having lots of work done in our house (paint, tile, carpet, lighting) as contractors are cheaper right now.

 

[friendofgusgus]

I think the pundits who are saying this are doing the public a big disservice if it's not followed quickly by some hard truths.

The fact that the recession may be easing does not change the fact that our economy is going to look different after recovery.

Many of the jobs that have disappeared are never coming back.

Builders, mortgage specialists, many bankers, automotive workers, retailers - many of these people will not find work again in these fields. They were too heavy to begin with and the economy has brought them back down to size.

Large home equity loans, expensive remodels? They, too, cannot happen at their previous rate. The landscape has changed.

Even some businesses that have survived so far may not last. It is easier to manage a short downturn, but if the new economy looks too different, many companies will not be able to keep holding on the way they are now.

Many of the employees who were let go are not coming back. That means more work, longer hours, less pay for those who remain. If the company can do more with less, why would they add those employees back?

We might be coming out of a whole here, but we still don't know what we're going to see when the sun shines. It's too soon for everyone to be pontificating about the end of the recession.

 

[cteddiesgirl]

At least that is what someone said on the National news the other day. I didnt hear it so I cant tell you where it came from. My relocation specialist called to tell me that the other day.

I heard about this either Wednesday or Thursday on GMA.

I call it a load of bull.

They even said that unemployment peaks about 6 months after recessions are "over".

How can a recession be over if so many of the population is out of work? How can anyone spend money they do not have to help the economy rise?

Makes no sense to me.

 

[KirstenB]

DH works in manufacturing, which has been taking a hit for a while. His company is laying off about 1/3 of the engineers at his plant this Friday. We're cautiously optimistic that dh will be okay, but regardless, many friends and co-workers will be getting bad news this week.

The recession seemed to hit Richmond later than many areas. But in the last several months, I've noticed parking lots at malls, restaurants, etc are much less full.

 

[Robinrs]

Where were all the rose colored glasses wearing people who used to post about there being NO recession????? I used to think I was living in La La Land!

 

[pandora174]

In my neck of the woods, my employer layed off 280 managers roughly 2 % but the worker bee's are ok for now right ? Benefits went from a co-pay HMO to 80/20, some savings but not if you have a DS who needs ST & OT 2x a week, we had to reduce therapy to 1x a week . I make decent $ so I am very grateful, my DH is self employed, handy man/has e-bay store & his income has gone almost nothing. We shop at Walmart Super Center & not Publix, no biggie really. I can still afford DS football & swimming classes this summer so I am grateful for that. But I look for the best deal ALWAYS no matter what I am buying. We don't eat out as often but instead of chain restaurants have started cookiing in more, grilling, & going to local small restautants but not as often & the gas prices have us staying home more. But on the upside I'm planning a Busch Gardens trip during the summer, 3 days & I'm already starting to stock up slowly over the summer on DS school uniform shirts & pants, shoes, back pack, great deals on e-bay, walmart clearance etc so I don't have a big chunk coming out in Aug. So I've learned to budget & stretch our dollars more. I was able to contribute to my 401k again after a tough couple of months that I had to stop contributing This summer instead of hiring a tutor $45 for an hour for DS who was a preemie I ordered on clearance from hooked on phonics "getting ready for 1rst grade" from $50 to $14.99 shipped free !! Again the internet is my friend thanks to all disers ! So DH & I will be doing the tutoring he needs. So are things rebounding, not yet for us. But I consider us extremely fortunate compared to alot of people out there. Do I see a small light at the end of the tunnel ? YES ! Next goal is to start re-building our savings which took a huge hit from DH income loss. But my car is paid off in Jan so I'm planning on rebuilding our savings. Is it stressful at times & do I wake up praying I don't get laid off ? Yes but I pray & keep on keeping on. We wouldn't live in the US if we always didn't see the light at the end of tunnel