Anyone else prospering during this "bad economy"?

[Gibson486]

Originally posted by: TallBill

Originally posted by: Gibson486

No, the economy is bad. It is certainly not overplayed. Lots of people just happen to work in industries where there is a lag effect. Some work for companies who have prepared for this situation, but to come out and say that the economey is just fine...wow.

I never said that the economy was fine. I just said that the majority of Americans are doing fine.

yes, they are doing fine, but at the cost of higher prices. People who make a household income of 100K and have to raise two kids....I do not want to be in their shoes.

 

[oddyager]

Originally posted by: TallBill

Originally posted by: Gibson486

No, the economy is bad. It is certainly not overplayed. Lots of people just happen to work in industries where there is a lag effect. Some work for companies who have prepared for this situation, but to come out and say that the economey is just fine...wow.

I never said that the economy was fine. I just said that the majority of Americans are doing fine.

Most Americans are probably doing okay but you have to admit all of the collapses this year (from Lehman's to Bear Stearns), the buyouts, the rise in prices of oil, etc, are not good indicators of a healthy economy.

 

[bobdole369]

In fact my own company is reporting the best earnings, largest number of new contracts, several new products... And we are actually looking to hire somebody! No problem here.

 

[JDub02]

If the economy is bad, the people around here don't seem to notice. Expensive restaurants are still packed. Malls are still full.

My wife and I are doing OK. Trying to climb out of the student loan pit. My wife racked up $40k in student loans only to become a teacher. Teacher salary in the south is pretty lousy.

My student loans and her car should be paid off in the next year or two. That frees up a nice chunk of money to start blasting away at her student loans and save for a house.

 

[Capt Caveman]

Originally posted by: Aharami

Originally posted by: Capt Caveman

Originally posted by: dmcowen674

Originally posted by: AccruedExpenditure
Business is going well, company growing and getting good talent for a fraction of what I would have paid a year or two ago

Wages going down = going well?

We know you're against capitalism. But yes, companies will do better by being able to hire the people they need at lower costs. And more unemployed people are employed.

good for the employer, but bad for the employee. employees bring in less money when cost of living is forever rising.

They can refuse the job offer and stay unemployed.

 

[ponyo]

I've had a great year and things are still looking good on the job front but I'm very cautious right now. While I'm spending money, I'm being more selective and have put off all major purchases. I think this difficult environment is going to last 3-5 years minimum and be far nastier than what most people expect. I've been selling stocks during rallies to raise cash and trying to get liquid as I possibly can in all fronts. I don't want to sound like Chicken Little but what I'm seeing on the equities and credit side is scaring me more than anytime in my life. I think the worst is yet to come and when it does, it will take our breath away. It's going to get bad, and I fear for the marginal people out there barely hanging on now. My house is in order and hopefully I will be able to take advantage of the coming doom.

 

[Regs]

You can't deny services are still increasing in price, even essential services. Cable TV, internet, gas, medical insurance, and so fourth. While the cost of living increases, the American dollar is losing its value. There is no doubt it is effecting each and every one of us, though until you're out of a job or a house, some don't care until it's too late.


But that's ok, we pay people to worry for you, and what a swell job they're doing.

 

[Regs]

Originally posted by: Capt Caveman

Originally posted by: Aharami

Originally posted by: Capt Caveman

Originally posted by: dmcowen674

Originally posted by: AccruedExpenditure
Business is going well, company growing and getting good talent for a fraction of what I would have paid a year or two ago

Wages going down = going well?

We know you're against capitalism. But yes, companies will do better by being able to hire the people they need at lower costs. And more unemployed people are employed.

good for the employer, but bad for the employee. employees bring in less money when cost of living is forever rising.

They can refuse the job offer and stay unemployed.

Then who's going to pay for all the crap they're selling? Certainly not another company doing the same thing. Competitive companies sell competitive products and salary.That is capitalism at its finest. A company's goal should be to keep operation costs at a minimum and productivity at its maximum. Sooner or later they'll have to start creating new jobs at a competitive employee wage to keep the competitive edge or else they're a sinking ship. There is always two sides to the scale.

 

[PricklyPete]

Originally posted by: Regs
You can't deny services are still increasing in price, even essential services. Cable TV, internet, gas, medical insurance, and so fourth. While the cost of living increases, the American dollar is losing its value. There is no doubt it is effecting each and every one of us, though until you're out of a job or a house, some don't care until it's too late.


But that's ok, we pay people to worry for you, and what a swell job they're doing.

I find it funny that you have "Cable TV" under your "essential services".

 

[Regs]

Originally posted by: PricklyPete

Originally posted by: Regs
You can't deny services are still increasing in price, even essential services. Cable TV, internet, gas, medical insurance, and so fourth. While the cost of living increases, the American dollar is losing its value. There is no doubt it is effecting each and every one of us, though until you're out of a job or a house, some don't care until it's too late.


But that's ok, we pay people to worry for you, and what a swell job they're doing.

I find it funny that you have "Cable TV" under your "essential services".

 

[Kyteland]

Originally posted by: eleison
It is a bad economy. historically, 10% unemployment is bad -- thats only 1 out of every ten people are unemployed. So for every 9 posting of "uhm, I'm doing ok.." there will be one "I lost my job, or I'm unemployed"... 9 out of 10 doesn't look that bad, but it is bad... yes, I know we aren't at 10% yet.. I'm just using that as an example -- I think we are at 6-7%.

I guess what I'm saying is that this poll is flawed. Its also doesn't account for people who don't have internet. Most people who get affected by a bad economy first are the "poorer" folks... which, I don't think are on the net very often.

The unemployment rate was at 6.1%, up from 4.4% a year ago.

Keep in mind the U-6 unemployment rate is at 11.1% up from 7.9% a year ago. U-6 being defined as "Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers." This number includes people who are underemployed due to the economy and not by choice.

 

[Train]

Originally posted by: TallBill
...I'm only 26 and if my wife and I both lost our jobs we could maintain our current standard of living for about 18 months without accruing any extra debt...

Thats pretty solid, 18 months is impressive. The general rule is 3 months, which me and my GF barely have now, and would like to make our safety net much bigger (she keeps wanting to buy more shit for the house and I have to keep stopping her)

Her job is safe (medical) and I'm ok but my company has really had to tighten its belt buckle (our clients are all in the building industry and they are all going into hibernation this year) I'm still holding on to my active reserve status even though I'm way past end of contract, just in case I need to volunteer for quick active duty to get some income.

If I were you I would be feelin pretty good on that 18 month fallback and just take the excess and play/buy cheap stocks/invesments, maybe even pick up a rental property and fix it up.

 

[TallBill]

Originally posted by: oddyager

Originally posted by: TallBill

Originally posted by: Gibson486

No, the economy is bad. It is certainly not overplayed. Lots of people just happen to work in industries where there is a lag effect. Some work for companies who have prepared for this situation, but to come out and say that the economey is just fine...wow.

I never said that the economy was fine. I just said that the majority of Americans are doing fine.

Most Americans are probably doing okay but you have to admit all of the collapses this year (from Lehman's to Bear Stearns), the buyouts, the rise in prices of oil, etc, are not good indicators of a healthy economy.

For the final time, I never said that the economy was doing fine.

 

[Regs]

Maybe we're doing ok TallBill, but that does not mean we could not be doing better. With a rising population of labor for goods and services, growth is an imperative.

 

[dmcowen674]

Originally posted by: Capt Caveman

Originally posted by: Aharami

Originally posted by: Capt Caveman

Originally posted by: dmcowen674

Originally posted by: AccruedExpenditure
Business is going well, company growing and getting good talent for a fraction of what I would have paid a year or two ago

Wages going down = going well?

We know you're against capitalism. But yes, companies will do better by being able to hire the people they need at lower costs. And more unemployed people are employed.

good for the employer, but bad for the employee. employees bring in less money when cost of living is forever rising.

They can refuse the job offer and stay unemployed.

Completely uttlerly false.

There are so many people in this situation there are plenty to take the crap wages and employers know it just like you do.

Why do you hate fellow Americans so much?

 

[Gibson486]

Originally posted by: TallBill

Originally posted by: oddyager

Originally posted by: TallBill

Originally posted by: Gibson486

No, the economy is bad. It is certainly not overplayed. Lots of people just happen to work in industries where there is a lag effect. Some work for companies who have prepared for this situation, but to come out and say that the economey is just fine...wow.

I never said that the economy was fine. I just said that the majority of Americans are doing fine.

Most Americans are probably doing okay but you have to admit all of the collapses this year (from Lehman's to Bear Stearns), the buyouts, the rise in prices of oil, etc, are not good indicators of a healthy economy.

For the final time, I never said that the economy was doing fine.

this also shows the health of our economy

http://www.boston.com/news/loc...1/harvard_seeks_s.html

 

[Capt Caveman]

Originally posted by: Regs

Originally posted by: Capt Caveman

Originally posted by: Aharami

Originally posted by: Capt Caveman

Originally posted by: dmcowen674

Originally posted by: AccruedExpenditure
Business is going well, company growing and getting good talent for a fraction of what I would have paid a year or two ago

Wages going down = going well?

We know you're against capitalism. But yes, companies will do better by being able to hire the people they need at lower costs. And more unemployed people are employed.

good for the employer, but bad for the employee. employees bring in less money when cost of living is forever rising.

They can refuse the job offer and stay unemployed.

Then who's going to pay for all the crap they're selling? Certainly not another company doing the same thing. Competitive companies sell competitive products and salary.That is capitalism at its finest. A company's goal should be to keep operation costs at a minimum and productivity at its maximum. Sooner or later they'll have to start creating new jobs at a competitive employee wage to keep the competitive edge or else they're a sinking ship. There is always two sides to the scale.

Capitalism <> Paying a Competitive Salary

If that was the case, so many companies wouldn't be outsourcing or moving manufacturing overseas.

 

[Regs]

Originally posted by: Capt Caveman


Capitalism <> Paying a Competitive Salary

If that was the case, so many companies wouldn't be outsourcing or moving manufacturing overseas.

Maybe that's why things are starting to fall apart now? It's a balancing act.

 

[Spacehead]

I'm in manufacturing & we're very busy at work now. As a matter of fact we've had to hire 2 new people in the last few weeks(there's only ~15 of us at our shop).

I've gotten 2 raises in the the last 3 months, been working some OT the last couple of months for the first time all year & there's probably enough work in our shop now to last my department 5-6 months.

 

[PrinceofWands]

Nope. Everyone I know is doing worse and worse. More unemployed, more underemployed, no raises, higher costs on utilities, higher costs on insurance, higher costs on consumables, etc.

 

[FDF12389]

Im doing ok, would be doing alot better if I played things smarter though.

 

[Train]

Originally posted by: Capt Caveman
Capitalism <> Paying a Competitive Salary

If that was the case, so many companies wouldn't be outsourcing or moving manufacturing overseas.

Competitive Salary = overseas.

Capitalism went global.

 

[TallBill]

Originally posted by: PrinceofWands
Nope. Everyone I know is doing worse and worse. More unemployed, more underemployed, no raises, higher costs on utilities, higher costs on insurance, higher costs on consumables, etc.

Ouch, sorry to hear. Any reason why your area is hit hard? I know only one person that has been fired in the last year, and she had an whacky job that her company never needed.

 

[Regs]

Originally posted by: Train

Originally posted by: Capt Caveman
Capitalism <> Paying a Competitive Salary

If that was the case, so many companies wouldn't be outsourcing or moving manufacturing overseas.

Competitive Salary = overseas.

Capitalism went global.

How much are they paying them over seas? Do you think someone sleeping in a factory in Korea making 5 dollars a day is going to afford a 30 thousand dollar car?

 

[Chaotic42]

I just bought a house and a car. I have no complaints.