The Economic News is not as bad as you might believe

Discussion in 'Random Ramblings' started by buc, Dec 1, 2008.

Thread Status:
Not open for further replies.
  1. buc

    buc Chillin' With My Peeps

    260
    0
    149
    Apr 20, 2007
    kansas
    I have a degree in economics and another in Business, I run my own small business and we are doing just fine.

    Inflation is in check.
    Unemployment is low.

    And this one is well over due, we Americans for the most part have gotten the point that we have to spend less then we earn and save for a rainy day.

    Your thoughts?
     
  2. wegotchickens

    wegotchickens DownSouth D'Uccles & Silkies

    12,151
    25
    311
    Jul 5, 2007
    Sevier County, TN
    This was a good wake-up call, but I think the winter will be hard. We can't relax yet. Lay-offs aren't over.
    And although gas is lower at the moment I'm confident the 'oil powers' will make sure it goes back up again.
     
  3. Their Other Mother

    Their Other Mother Chillin' With My Peeps

    757
    1
    151
    May 1, 2008
    Arizona
    Quote:I agree about gas prices. I and everyone I talk to feels like this is the calm befor the storm.
     
  4. PeeperKeeper

    PeeperKeeper Chillin' With My Peeps

    Lost 30% of what I saved up in my 401K, I'm disabled now and have to deal with what I can salvage. Should have bought gold!
     
  5. 1acrefarm

    1acrefarm Chillin' With My Peeps

    Nov 3, 2007
    Georgia
    I wish you would tell that to the scrap metal buyers. I have not been able to make any money. I know there are ways to make money in all economies so I will find it.
     
  6. willowcol

    willowcol Chillin' With My Peeps

    Oct 10, 2008
    Macclesfield NC
    I think that this really depends on the person reading it. It might not be as bad as we think but if you have lost your job, are losing your home, or have no money then its pretty bad. I know my husband will lose his job in Jan. he has worked there since 1999. They are closing down and he has found nothing else yet. My best friends husband was leaving work 3 week ago friday and was informed he was laid off. Now they $900 short with his unemployment to pay the morgage. Things might not be as bad as we think, but if you lose your job and no one is hiring it is just terrible.
     
  7. buc

    buc Chillin' With My Peeps

    260
    0
    149
    Apr 20, 2007
    kansas
    I know that most of the people on this site understand and you money wisely.

    I just hope that they share the wealth (thier knowledge of money and thrift with others around them).

    I expect to see unemployment top at 8 to 8.2 percent, or put another way 92 to 91.8 of those that want to work will be.
     
  8. buc

    buc Chillin' With My Peeps

    260
    0
    149
    Apr 20, 2007
    kansas
    Peeperkeeper "Lost 30% of what I saved up in my 401K" I don't mean to knit-pick but, unless you sold some of your holdings for a loss you have not lost anything, if you sold for a true net loss then it is time to see your CPA on how best to take the deduction on your tax return.
     
  9. buc

    buc Chillin' With My Peeps

    260
    0
    149
    Apr 20, 2007
    kansas
    Quote:I go to pleanty of farm auctions and I have heard from the scrape dealers there, they are telling me that with the drop in the gross price of scrape it is making it harder on them.


    What I don't get an answer to is if they put some profits away when the price of metals were very high and the living was easy.
     
  10. Chicken Woman

    Chicken Woman Incredible Egg

    2,465
    14
    181
    Oct 16, 2008
    Montana
    buc
    What do you mean we have lost nothing ! Between my husband and I we have LOST $40,000 in our retirement !!![​IMG][​IMG]
     
Thread Status:
Not open for further replies.

BackYard Chickens is proudly sponsored by