Stores are crowded again;Sign things are looking up

[Scoop]

And I work at a place that rents out vacation homes. Virtually NO families booked for a whole week. Most were 3 to 4 nights and they went home. We also had no bookings on the July 4th weekend which is unheard of.

 

[GrayDragon]

Quote:
Luxury companies will be the last to see improvement. Fortunately, this event has served to teach a number of people to be more responsible with their money, and that will mean putting off vacations for a while.

Right now bills are starting to be paid off. Once that is caught up, there will be more put into savings and home improvement (fixing things that need to be fixed that have been put off) then the luxury stuff will be bought (vacations, fancy clothes, etc..)

Sadly, the tourist industry will be one of the last to recover.

 

[DianeB]

GrayDragon you are awesome. Thank you for being a voice of reason and comfort.

 

[Scoop]

Out here I've read about a farmer borrowing $200,000 to keep his farm afloat. Well, it's not working and he's probably going to lose it all. Some won't ever be able to pay off their debt.

 

[LegHorn-BusHorn]

Things haven't seemed that bad around here. I live very close to one of the largest Chysler plants that have closed. But it has been slowly closing for years so for the last couple hundred to be laid off it didn't seem so bad. I drive by that closed down plant every day in awe, just wondering what they are going to do with it. The Lowes and Walmarts around here look like they are giving things away. I personally just boight a Flat screen and am having a new whole house electic heater put in next week. I hope this helps someone in need of work. We also are trying to insulate my 40+ year old house better. So somethings are going on for the better.

 

[Sunny the Hippie Chick]

Quote:
Luxury companies will be the last to see improvement. Fortunately, this event has served to teach a number of people to be more responsible with their money, and that will mean putting off vacations for a while.

Right now bills are starting to be paid off. Once that is caught up, there will be more put into savings and home improvement (fixing things that need to be fixed that have been put off) then the luxury stuff will be bought (vacations, fancy clothes, etc..)

Sadly, the tourist industry will be one of the last to recover.

Ya, sadly the town I live in is only a tourist town. With out tourists. We have a way smaller money movement around here. The only big thing here is the wood mill. And it layed off 100 workers.

 

[GrayDragon]

Quote:
That's the hazard of borrowing money that you cannot pay back. Sadly, a lesson some still haven't learned. Sometimes, you have to let it go instead of throwing money down the hole.

It's kind of funny to me in a way. People are upset that big companies got bailed out, but view something like a person borrowing $200,000 to keep a non-workable model afloat as something to grieve. The difference is purely a matter of scale.

The economy, for better and worse, has changed. Those that cannot change with it will fall by the way, and others will grow to take their place. Instead of trying to save the telegraph and the pony express, it's time to move on.