Can we call it a recession NOW???

[iwire]

Here's where I think we are.

We in the U.S. are about to fit ourselves in with the rest of the world as just another one of it's inhabitants, rather than it's king.


That is going to require a major downward shift in our standard of living and it scares the bejeebers outta me.

BINGO!

That is exactly where we are at IMHO, things are going to be different and as far as I can see not in a better way for us here.

 

[iwire]

I really do not know but will continue to work everyday and hope for the best.

As will I, but I would be lying if I said I felt real good about the immediate future. One thing I am really thankful for is I went modest when I bought my home 9 years ago.

 

[bikeindy]

Here's where I think we are.

We in the U.S. are about to fit ourselves in with the rest of the world as just another one of it's inhabitants, rather than it's king.


That is going to require a major downward shift in our standard of living and it scares the bejeebers outta me.


You tell me how bad it's going to get. I'd love to hear something positive.

Well my wife and i own two homes in China, (paid for) one her parents live in and the other we rent out. No matter how you look at it the US economy is still the locomotive that pulls the rest of the worlds economies along. This may change and I am already set to move to the new leader of the worlds economy if need be. I really don't think I will live that long, be afraid if you want to, but I still have faith in the 30% of Americans who think hard work is a virtue and will keep the fire of the US economy roaring.

 

[iwire]

I still have faith in the 30% of Americans who think hard work is a virtue and will keep the fire of the US economy roaring.

I have faith in them as well, I consider myself one.

That said if there is no place to work......

What do we still produce here in the US?

 

[ptonsparky]

Now the money question. Are you making any? Busy and profitable are two difference animals.

Been a good question for me for 28 years now.

 

[BryanMD]

This is a national forum with people citing mostly what they see in their small corner of the nation. Some areas are doing just fine (generally the heartland) and some areas are completely screwed by comparison.

Almost everywhere though, the hit we all took in investments (I'm down 25% over the last year) and the lack of loan money available makes those who have the cash less willing than in the past to commit it.

And in too many places our main 'investment' (the house) has had it's value reduced about 25% as well. Just last night we signed a deal to sell this house at a fair price but at least 25% less than we could have gotten 18 mos ago.

More for personal reasons than financial I'm going to rent for the next year or so rather than build the house I had planned to until things shake out more. I could build this summer but I won't.

We also have a condo in South Florida that just sits and sits because for the VERY few qualified buyers out there there are far too many properties for sale. (Any golfers here? want a good deal? PM me. Ha Ha)

As relates to new construction... look at building permits and their types.
Resi new work is down a LOT almost everywhere and commercial is mostly stagnant but is also down in too many places.

As relates to service...

 

[realolman]

No matter how you look at it the US economy is still the locomotive that pulls the rest of the worlds economies along.

I'd love to be optimistic . What indicators you can cite ?

This may change and I am already set to move to the new leader of the worlds economy if need be..

You must be a corporation... You don't think think tobacco is addictive either, do you? Do you wear a flag lapel pin?

I really don't think I will live that long, be afraid if you want to, but I still have faith in the 30% of Americans who think hard work is a virtue and will keep the fire of the US economy roaring..

Where did you get that statistic? I would think it is much higher, but regardless, these good people are being abandoned by their own government, corporations and the greed of their leaders..

 

[quogueelectric]

Keep watching FOX news.... You'll be well indoctrinated... I mean informed.:roll:

They have that show the OH REALLY factor. Fair and balanced reporting yeah right. :roll:

 

[mdshunk]

I struggle to make my own keep. What I have gained and what I have lost have both been my own doing. I will do just fine, without regard to what the perception of the economy's status is. I blame nothing related to my personal situation on the nation's economy.

 

[bikeindy]

I'd love to be optimistic . What indicators you can cite ?

You can't be, you seem to have a disorder that won't allow you to be. Look it up for yourself, but i'll help California alone if it was a separate nation would have the 5th largest GDP and NYC would be 8th and even with out them the US would still be #1. We consume close to 25% of the worlds energy production and only have 5% of the population. The Chinese have yet to produce a self sustaining economy they need us. Look at the money that flows out of the US to other nations and you can figure it out.

You must be a corporation... You don't think think tobacco is addictive either, do you? Do you wear a flag lapel pin?

I was speaking of myself moving not my business. Of course tobacco is addictive. No I have no need for a lapel pin I wear T- shirts.

Where did you get that statistic? I would think it is much higher, but regardless, these good people are being abandoned by their own government, corporations and the greed of their leaders..

I made it up based on what I see day to day and how many people whine and complain about their situation instead of standing up and doing something.

 

[bikeindy]

I struggle to make my own keep. What I have gained and what I have lost have both been my own doing. I will do just fine, without regard to what the perception of the economy's status is. I blame nothing related to my personal situation on the nation's economy.

Ditto !

 

[iwire]

I think you are both straining credibility saying that the economy will not effect you but I could be wrong.

I am just not that independent, I buy things from others

 

[bikeindy]

I think you are both straining credibility saying that the economy will not effect you but I could be wrong.

I am just not that independent, I buy things from others

During the Great Depression there was 25% unemployment. That means 75% were employed I have a feeling even if there was a repeat of those days and i lost my business I would be in the 75%. Therefore I fear nothing. Remember some of the greatest feats in human engineering and building were done in those days. I think we are in a good trade.

 

[iwire]

I think we are in a good trade.

Well I certainly agree with that.

 

[mdshunk]

I think you are both straining credibility saying that the economy will not effect you but I could be wrong.

Of course it will effect me some. In the grand scheme of things, however, it's more like a irritating gadfly. Increased and more efficient personal industry will more than offset the rise in price of milk and pizza, for instance. I really don't care what gas prices are, since they go in the cost of the work. Everyone is in the same boat. I have more ideas for ways to make money in our trade than I will ever explore. If one well goes dry, I'll jump down to the next one on the list. Even if the entire country fell apart tomorrow, imagine all the unemployed people I could put to work at a low wage doing something menial to make me money? Oskar Schindler started an enamelworks.

 

[iwire]

Marc, I can agree that some folks will do better then others and I have no doubt you have other ideas cooking.

That said, the Schindler reference is just weird. :-?

You sure you don't PWI?

 

[mdshunk]

That said, the Schindler reference is just weird. :-?

I just watched it the other day, so it was on top of my mind. A good example of how to personally prosper in hard times, plus he helped people along the way.

You sure you don't PWI?

I don't even drink alcohol, but I have had 2 glasses of Dr. Pepper this afternoon. I do have some work to do in the flower beds today that I am putting off, but that's the only thing bad I've done today.

 

[peter d]

If things get bad enough I'm seriously considering going back to school....

 

[bikeindy]

If things get bad enough I'm seriously considering going back to school....

I don't think things could ever get bad enough for me to do that.

 

[peter d]

I don't think things could ever get bad enough for me to do that.

It's all a matter of perspective, right now I'm in a position where I could do it.