We all know from reading the paper and watching television that the US economy is in terrible shape. So what does that mean, exactly?
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
Let's Get the Facts About the Economy
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QUINNSCOMMENTARY
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Let's Get the Facts About the Economy
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
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Let's Get the Facts About the Economy
QUINNSCOMMENTARY;937086 wrote: We all know from reading the paper and watching television that the US economy is in terrible shape. So what does that mean, exactly?
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
I'm having to drink more homemade coffee since a cup of the special stuff is as much as a gallon of gas.
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
I'm having to drink more homemade coffee since a cup of the special stuff is as much as a gallon of gas.
Schooling results in matriculation. Education is a process that changes the learner.
Let's Get the Facts About the Economy
I live in an apartment. My rent will probably go up but it does every year, so it's no surprise. I had no car for years. Still don't, but I got an electric sidewalk rocket (scooter). I still eat whatever I want. My kids all are still working. Overtime even. One just bought a house a month ago.
Personally, I don't think things are as bad as the media want it to sound. Not hard to go out and find a few failures and write them up as the new norm.
Personally, I don't think things are as bad as the media want it to sound. Not hard to go out and find a few failures and write them up as the new norm.
Let's Get the Facts About the Economy
QUINNSCOMMENTARY;937086 wrote: We all know from reading the paper and watching television that the US economy is in terrible shape. So what does that mean, exactly?
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
The economists, who feed data to the media, are looking at forward facing indicators. The economy can be in a terrible state for a fair while before it filters through to affect the man in the street.
Having said that, In the UK the visible effects are :-
House prices falling at their fastest rate since the bust of the early 90's
Inflation at its highest rate since the last recession and rising
Retail sales made their biggest fall since record began
Petrol prices at their highest ever level (30% higher than the last peak)
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
The economists, who feed data to the media, are looking at forward facing indicators. The economy can be in a terrible state for a fair while before it filters through to affect the man in the street.
Having said that, In the UK the visible effects are :-
House prices falling at their fastest rate since the bust of the early 90's
Inflation at its highest rate since the last recession and rising
Retail sales made their biggest fall since record began
Petrol prices at their highest ever level (30% higher than the last peak)
Let's Get the Facts About the Economy
hoppy;937327 wrote: I live in an apartment. My rent will probably go up but it does every year, so it's no surprise. I had no car for years. Still don't, but I got an electric sidewalk rocket (scooter). I still eat whatever I want. My kids all are still working. Overtime even. One just bought a house a month ago.
Personally, I don't think things are as bad as the media want it to sound. Not hard to go out and find a few failures and write them up as the new norm.
Those few failures include :-
House inventories running at double the sustainable rate
Repossessions at historically high rates
Retail sales falling rapidly
Falling employment
Bank failures
Increasing Gas prices
High inflation
High balance of trade deficit
Hardly a few isolated failures to be brushed under the carpet as media hype
Yes, I'm still working - but no pay rise this year
My daughter's recently bought a house - but the value's already less than she paid and the mortgage just went up 50%
I can still afford to eat - but the bill is higher every week
I still run two cars, a campervan, a motorcycle and a boat - but the fuel costs have near doubled and the other costs are up by half
Personally, I don't think things are as bad as the media want it to sound. Not hard to go out and find a few failures and write them up as the new norm.
Those few failures include :-
House inventories running at double the sustainable rate
Repossessions at historically high rates
Retail sales falling rapidly
Falling employment
Bank failures
Increasing Gas prices
High inflation
High balance of trade deficit
Hardly a few isolated failures to be brushed under the carpet as media hype
Yes, I'm still working - but no pay rise this year
My daughter's recently bought a house - but the value's already less than she paid and the mortgage just went up 50%
I can still afford to eat - but the bill is higher every week
I still run two cars, a campervan, a motorcycle and a boat - but the fuel costs have near doubled and the other costs are up by half
Let's Get the Facts About the Economy
Originally Posted by QUINNSCOMMENTARY
We all know from reading the paper and watching television that the US economy is in terrible shape. So what does that mean, exactly?
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
Quinn asked what is different for me personally. So, the short answer is, very little for me.
We all know from reading the paper and watching television that the US economy is in terrible shape. So what does that mean, exactly?
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
Quinn asked what is different for me personally. So, the short answer is, very little for me.
Let's Get the Facts About the Economy
hoppy;937417 wrote:
Quinn asked what is different for me personally. So, the short answer is, very little for me.
You're a very lucky fellow then, this has the makings of a big one.
Quinn asked what is different for me personally. So, the short answer is, very little for me.
You're a very lucky fellow then, this has the makings of a big one.
Let's Get the Facts About the Economy
QUINNSCOMMENTARY;937086 wrote: We all know from reading the paper and watching television that the US economy is in terrible shape. So what does that mean, exactly?
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
Being retired and basically on a fixed income which until the recent spike in
gas, food etc., was sufficient to take care of the day to day purchases and even some travel and entertainment, now find that we must dip into reserves a bit to maintain the same standard of living as just 1 1/2 years ago. Of course with the Market being down our reserves have been reduced. No complaints on my part, we are fortunate to have homes paid for and no debt save monthly Visa Frequent Flyer which is always paid off.
Will I change anything we are doing? Not really at this point. Our reserves will be diminished which leaves less of an estate to our kids, but that's OK.
It's always been our plan to spend our last dollar the day we take our last breath, just don't know how long that will be so we plan accordingly.
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
Being retired and basically on a fixed income which until the recent spike in
gas, food etc., was sufficient to take care of the day to day purchases and even some travel and entertainment, now find that we must dip into reserves a bit to maintain the same standard of living as just 1 1/2 years ago. Of course with the Market being down our reserves have been reduced. No complaints on my part, we are fortunate to have homes paid for and no debt save monthly Visa Frequent Flyer which is always paid off.
Will I change anything we are doing? Not really at this point. Our reserves will be diminished which leaves less of an estate to our kids, but that's OK.
It's always been our plan to spend our last dollar the day we take our last breath, just don't know how long that will be so we plan accordingly.
Let's Get the Facts About the Economy
Very frustrating...
Gas, produce, travel...
I tell you it makes me feel as though I've skipped a decade.
My parents tell me stories about going to the movies and buying junk food at the convenience store for $0.25. I am aware of the cost of living and understand economics..but holy crap, since when is it $3.00 for a loaf of bread? We cant go to the movies (as a family of 4) for under $50.00...I can go on but I wont...
One last thing..when my company offers me a $0.25 raise/yr its just about equal to a slap in the face as it is to commute to work every day. ($100 a week).
Ok, Im done venting.
Regards,
'Frustrated in Canada'
Gas, produce, travel...
I tell you it makes me feel as though I've skipped a decade.
My parents tell me stories about going to the movies and buying junk food at the convenience store for $0.25. I am aware of the cost of living and understand economics..but holy crap, since when is it $3.00 for a loaf of bread? We cant go to the movies (as a family of 4) for under $50.00...I can go on but I wont...
One last thing..when my company offers me a $0.25 raise/yr its just about equal to a slap in the face as it is to commute to work every day. ($100 a week).
Ok, Im done venting.
Regards,
'Frustrated in Canada'
Tan
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QUINNSCOMMENTARY
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Let's Get the Facts About the Economy
Clint;937186 wrote: I'm having to drink more homemade coffee since a cup of the special stuff is as much as a gallon of gas.
That sounds like a serious cut back.:wah:
That sounds like a serious cut back.:wah:
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
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QUINNSCOMMENTARY
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Let's Get the Facts About the Economy
Tan;937549 wrote: Very frustrating...
Gas, produce, travel...
I tell you it makes me feel as though I've skipped a decade.
My parents tell me stories about going to the movies and buying junk food at the convenience store for $0.25. I am aware of the cost of living and understand economics..but holy crap, since when is it $3.00 for a loaf of bread? We cant go to the movies (as a family of 4) for under $50.00...I can go on but I wont...
One last thing..when my company offers me a $0.25 raise/yr its just about equal to a slap in the face as it is to commute to work every day. ($100 a week).
Ok, Im done venting.
Regards,
'Frustrated in Canada'
ok, you vented, that's good, but you didn't answer the question.
How as the economy actually affected you? Have you cancelled your cable TV, have you stopped eating out altogether? You said you can go to the movies but won't that seems like choice and not a necessity.
Gas, produce, travel...
I tell you it makes me feel as though I've skipped a decade.
My parents tell me stories about going to the movies and buying junk food at the convenience store for $0.25. I am aware of the cost of living and understand economics..but holy crap, since when is it $3.00 for a loaf of bread? We cant go to the movies (as a family of 4) for under $50.00...I can go on but I wont...
One last thing..when my company offers me a $0.25 raise/yr its just about equal to a slap in the face as it is to commute to work every day. ($100 a week).
Ok, Im done venting.
Regards,
'Frustrated in Canada'
ok, you vented, that's good, but you didn't answer the question.
How as the economy actually affected you? Have you cancelled your cable TV, have you stopped eating out altogether? You said you can go to the movies but won't that seems like choice and not a necessity.
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
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QUINNSCOMMENTARY
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Let's Get the Facts About the Economy
Lon;937511 wrote: Being retired and basically on a fixed income which until the recent spike in
gas, food etc., was sufficient to take care of the day to day purchases and even some travel and entertainment, now find that we must dip into reserves a bit to maintain the same standard of living as just 1 1/2 years ago. Of course with the Market being down our reserves have been reduced. No complaints on my part, we are fortunate to have homes paid for and no debt save monthly Visa Frequent Flyer which is always paid off.
Will I change anything we are doing? Not really at this point. Our reserves will be diminished which leaves less of an estate to our kids, but that's OK.
It's always been our plan to spend our last dollar the day we take our last breath, just don't know how long that will be so we plan accordingly.
Sounds like a plan, but let's hope the assets don't go away before you do take your last breath, that's the real risk. Hope you are well diversified.
gas, food etc., was sufficient to take care of the day to day purchases and even some travel and entertainment, now find that we must dip into reserves a bit to maintain the same standard of living as just 1 1/2 years ago. Of course with the Market being down our reserves have been reduced. No complaints on my part, we are fortunate to have homes paid for and no debt save monthly Visa Frequent Flyer which is always paid off.
Will I change anything we are doing? Not really at this point. Our reserves will be diminished which leaves less of an estate to our kids, but that's OK.
It's always been our plan to spend our last dollar the day we take our last breath, just don't know how long that will be so we plan accordingly.
Sounds like a plan, but let's hope the assets don't go away before you do take your last breath, that's the real risk. Hope you are well diversified.
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
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QUINNSCOMMENTARY
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Let's Get the Facts About the Economy
hoppy;937327 wrote: I live in an apartment. My rent will probably go up but it does every year, so it's no surprise. I had no car for years. Still don't, but I got an electric sidewalk rocket (scooter). I still eat whatever I want. My kids all are still working. Overtime even. One just bought a house a month ago.
Personally, I don't think things are as bad as the media want it to sound. Not hard to go out and find a few failures and write them up as the new norm.
Bingo!
Personally, I don't think things are as bad as the media want it to sound. Not hard to go out and find a few failures and write them up as the new norm.
Bingo!
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
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QUINNSCOMMENTARY
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Let's Get the Facts About the Economy
Bryn Mawr;937426 wrote: You're a very lucky fellow then, this has the makings of a big one.
I agree with Hoppy, re-telling what we all know is the rhetoric (and facts) of the day does not answer the question.
How have you personally been affected?
I want to hear from the person who has done all or some of the following:
lost his home
stopped driving
can't buy food
stopped eating out altogether
cancelled cable TV
cancelled the cell phone (or at least one in the family)
absolutely cannot pay the bills
filed for bankruptcy
etc. etc,
My theory is that for the average person 2008 is no worse than for people in 1973, or the 1980s during the last housing bubble, or when mortgage rates were 13%
The average person NOT including those who got up to their ears in home equity debt, bought a house they could never afford, lived to the hilt on credit cards and the like.
And for those who have lost their jobs, that is very unfortunate and scary, but nothing unusual in terms of the economy and we still have an unemployment rate at quite normal levels.
So, how has the current economy adversely affected you directly? Be honest now.
I agree with Hoppy, re-telling what we all know is the rhetoric (and facts) of the day does not answer the question.
How have you personally been affected?
I want to hear from the person who has done all or some of the following:
lost his home
stopped driving
can't buy food
stopped eating out altogether
cancelled cable TV
cancelled the cell phone (or at least one in the family)
absolutely cannot pay the bills
filed for bankruptcy
etc. etc,
My theory is that for the average person 2008 is no worse than for people in 1973, or the 1980s during the last housing bubble, or when mortgage rates were 13%
The average person NOT including those who got up to their ears in home equity debt, bought a house they could never afford, lived to the hilt on credit cards and the like.
And for those who have lost their jobs, that is very unfortunate and scary, but nothing unusual in terms of the economy and we still have an unemployment rate at quite normal levels.
So, how has the current economy adversely affected you directly? Be honest now.
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
Let's Get the Facts About the Economy
QUINNSCOMMENTARY;937086 wrote: We all know from reading the paper and watching television that the US economy is in terrible shape. So what does that mean, exactly?
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
To be honest the economy is fine...
I couldn't think of a better economy I could live in...
What's wrong and people will soon find out is wasteful spending...Pure and simple...It's already evident in SUV's and larger trucks being over looked for smaller sedans...
As is with any downfall of currency the lower income populations are going to be the most effected...Everyone else is just going to get smacked in the face with a text book comprised of "Value of a dollar"...
Tell us how you have directly been affected by the economy...specifically.
Did you lose your house?
Have you lost your job?
Has the cost of gasoline made it difficult to pay your credit card bills?
Inflation is up a bit, but not like it was years ago.
So, exactly what is different for you personally?
And please, no politics, just facts.
To be honest the economy is fine...
I couldn't think of a better economy I could live in...
What's wrong and people will soon find out is wasteful spending...Pure and simple...It's already evident in SUV's and larger trucks being over looked for smaller sedans...
As is with any downfall of currency the lower income populations are going to be the most effected...Everyone else is just going to get smacked in the face with a text book comprised of "Value of a dollar"...
Let's Get the Facts About the Economy
K.Snyder;939581 wrote: It's already evident in SUV's and larger trucks being over looked for smaller sedans...
For the record I can't stand small sedans...A literal moving coffin...
Probably will never own one...
For the record I can't stand small sedans...A literal moving coffin...
Probably will never own one...
Let's Get the Facts About the Economy
I'm watching Obama at the Urban League. All we have to do is wait till January and everything will be fixed by the Federal Government. Cool!;)
Schooling results in matriculation. Education is a process that changes the learner.
Let's Get the Facts About the Economy
QUINNSCOMMENTARY;938157 wrote: I agree with Hoppy, re-telling what we all know is the rhetoric (and facts) of the day does not answer the question.
How have you personally been affected?
I want to hear from the person who has done all or some of the following:
lost his home
stopped driving
can't buy food
stopped eating out altogether
cancelled cable TV
cancelled the cell phone (or at least one in the family)
absolutely cannot pay the bills
filed for bankruptcy
etc. etc,
My theory is that for the average person 2008 is no worse than for people in 1973, or the 1980s during the last housing bubble, or when mortgage rates were 13%
The average person NOT including those who got up to their ears in home equity debt, bought a house they could never afford, lived to the hilt on credit cards and the like.
And for those who have lost their jobs, that is very unfortunate and scary, but nothing unusual in terms of the economy and we still have an unemployment rate at quite normal levels.
So, how has the current economy adversely affected you directly? Be honest now.
Do you really feel that it needs to get to the point where you loose your house before it becomes affecting you directly?
You appear to be looking exclusively for views that support your argument - sorry I cannot help you there.
Yes, this downturn has affected me (and I believe that it has affected the majority of the population) - not to the extent that it has stopped me from doing this that or the other but to the extent that I have to think about how I spend my money and what I'd prefer to spend it on.
Certainly, it is not as bad as the Great Depression - whether it is yet as bad as the last couple of recessions is moot as we're not yet at the bottom of the cycle to find out. It does, however, appear to be a sea change rather than a temporary blip - the economy after recovery will not be the same as the economy of the late twentieth century.
How have you personally been affected?
I want to hear from the person who has done all or some of the following:
lost his home
stopped driving
can't buy food
stopped eating out altogether
cancelled cable TV
cancelled the cell phone (or at least one in the family)
absolutely cannot pay the bills
filed for bankruptcy
etc. etc,
My theory is that for the average person 2008 is no worse than for people in 1973, or the 1980s during the last housing bubble, or when mortgage rates were 13%
The average person NOT including those who got up to their ears in home equity debt, bought a house they could never afford, lived to the hilt on credit cards and the like.
And for those who have lost their jobs, that is very unfortunate and scary, but nothing unusual in terms of the economy and we still have an unemployment rate at quite normal levels.
So, how has the current economy adversely affected you directly? Be honest now.
Do you really feel that it needs to get to the point where you loose your house before it becomes affecting you directly?
You appear to be looking exclusively for views that support your argument - sorry I cannot help you there.
Yes, this downturn has affected me (and I believe that it has affected the majority of the population) - not to the extent that it has stopped me from doing this that or the other but to the extent that I have to think about how I spend my money and what I'd prefer to spend it on.
Certainly, it is not as bad as the Great Depression - whether it is yet as bad as the last couple of recessions is moot as we're not yet at the bottom of the cycle to find out. It does, however, appear to be a sea change rather than a temporary blip - the economy after recovery will not be the same as the economy of the late twentieth century.
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Let's Get the Facts About the Economy
Debt free here. I stay debt free. I'm making more money than I ever have, not counting those decadent benefits Uncle Sam lavished on me for something so insignificant as dedicating my life to my fellow citizens' freedom.
Higher gas prices actually had me looking forward to getting a new car earlier than planned, so I could save on the commute. But now prices are dropping again. :yh_sigh
Higher gas prices actually had me looking forward to getting a new car earlier than planned, so I could save on the commute. But now prices are dropping again. :yh_sigh
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QUINNSCOMMENTARY
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Let's Get the Facts About the Economy
Bryn Mawr;940532 wrote: Do you really feel that it needs to get to the point where you loose your house before it becomes affecting you directly?
You appear to be looking exclusively for views that support your argument - sorry I cannot help you there.
Yes, this downturn has affected me (and I believe that it has affected the majority of the population) - not to the extent that it has stopped me from doing this that or the other but to the extent that I have to think about how I spend my money and what I'd prefer to spend it on.
Isn't that decision making the normal course of events?
Certainly, it is not as bad as the Great Depression - whether it is yet as bad as the last couple of recessions is moot as we're not yet at the bottom of the cycle to find out. It does, however, appear to be a sea change rather than a temporary blip - the economy after recovery will not be the same as the economy of the late twentieth century.
You are 100% correct on that point. And that is what people do not understand. It is, in fact, the beginning of a change in the standard of living in the United States or perhaps a better (?) balance between the US and the rest of the world.
I am not looking for views that support my argument, I am looking for facts that support the widely accepted view that this is a widespread economic crisis. I have yet to hear anything concrete, why is that?
You appear to be looking exclusively for views that support your argument - sorry I cannot help you there.
Yes, this downturn has affected me (and I believe that it has affected the majority of the population) - not to the extent that it has stopped me from doing this that or the other but to the extent that I have to think about how I spend my money and what I'd prefer to spend it on.
Isn't that decision making the normal course of events?
Certainly, it is not as bad as the Great Depression - whether it is yet as bad as the last couple of recessions is moot as we're not yet at the bottom of the cycle to find out. It does, however, appear to be a sea change rather than a temporary blip - the economy after recovery will not be the same as the economy of the late twentieth century.
You are 100% correct on that point. And that is what people do not understand. It is, in fact, the beginning of a change in the standard of living in the United States or perhaps a better (?) balance between the US and the rest of the world.
I am not looking for views that support my argument, I am looking for facts that support the widely accepted view that this is a widespread economic crisis. I have yet to hear anything concrete, why is that?
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
Let's Get the Facts About the Economy
QUINNSCOMMENTARY;940624 wrote: You are 100% correct on that point. And that is what people do not understand. It is, in fact, the beginning of a change in the standard of living in the United States or perhaps a better (?) balance between the US and the rest of the world.
I am not looking for views that support my argument, I am looking for facts that support the widely accepted view that this is a widespread economic crisis. I have yet to hear anything concrete, why is that?
I think our viewpoints are too far apart.
You agree that I am 100% correct that this is likely to be a rebalancing of the world economy involving a change in standard on living in the USA (and not for the better) but you cannot hear anything suggesting that it is a widespread economic crisis.
Any large scale worldwide rebalancing is always a crisis because of the damage the turbulence causes and because it can go horribly wrong and tip over into depression.
It is always widespread because it is worldwide.
What do you want by way of concrete?
I am not looking for views that support my argument, I am looking for facts that support the widely accepted view that this is a widespread economic crisis. I have yet to hear anything concrete, why is that?
I think our viewpoints are too far apart.
You agree that I am 100% correct that this is likely to be a rebalancing of the world economy involving a change in standard on living in the USA (and not for the better) but you cannot hear anything suggesting that it is a widespread economic crisis.
Any large scale worldwide rebalancing is always a crisis because of the damage the turbulence causes and because it can go horribly wrong and tip over into depression.
It is always widespread because it is worldwide.
What do you want by way of concrete?
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QUINNSCOMMENTARY
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- Joined: Sat May 10, 2008 4:56 pm
Let's Get the Facts About the Economy
Bryn Mawr;940708 wrote: I think our viewpoints are too far apart.
You agree that I am 100% correct that this is likely to be a rebalancing of the world economy involving a change in standard on living in the USA (and not for the better) but you cannot hear anything suggesting that it is a widespread economic crisis.
Any large scale worldwide rebalancing is always a crisis because of the damage the turbulence causes and because it can go horribly wrong and tip over into depression.
It is always widespread because it is worldwide.
What do you want by way of concrete?
I never said it was not a worldwide issue, what I said was while people keep talking about a crisis, I was looking for examples of how this "crisis" is directly affecting the average person. What have you done personally to cope? What have you given up? What can't you do now that you could a year ago?
So far, no one has been able or seen fit to answer that question.
The point being that while the average person may feel a little squeeze that is not requiring them at this point to make any real changes in their lives and those changes that may be required are not coming from basic necessities, but rather what many would call luxuries or close to it.
The additional point being that the "crisis" is no crisis at all for the vast majority of people, but an economic cycle that is being hyped by the media and politicians and highlighted by the housing debacle in the US which of course was self induced.
You agree that I am 100% correct that this is likely to be a rebalancing of the world economy involving a change in standard on living in the USA (and not for the better) but you cannot hear anything suggesting that it is a widespread economic crisis.
Any large scale worldwide rebalancing is always a crisis because of the damage the turbulence causes and because it can go horribly wrong and tip over into depression.
It is always widespread because it is worldwide.
What do you want by way of concrete?
I never said it was not a worldwide issue, what I said was while people keep talking about a crisis, I was looking for examples of how this "crisis" is directly affecting the average person. What have you done personally to cope? What have you given up? What can't you do now that you could a year ago?
So far, no one has been able or seen fit to answer that question.
The point being that while the average person may feel a little squeeze that is not requiring them at this point to make any real changes in their lives and those changes that may be required are not coming from basic necessities, but rather what many would call luxuries or close to it.
The additional point being that the "crisis" is no crisis at all for the vast majority of people, but an economic cycle that is being hyped by the media and politicians and highlighted by the housing debacle in the US which of course was self induced.
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
Let's Get the Facts About the Economy
QUINNSCOMMENTARY;940862 wrote:
The point being that while the average person may feel a little squeeze that is not requiring them at this point to make any real changes in their lives and those changes that may be required are not coming from basic necessities, but rather what many would call luxuries or close to it.
The additional point being that the "crisis" is no crisis at all for the vast majority of people, but an economic cycle that is being hyped by the media and politicians and highlighted by the housing debacle in the US which of course was self induced.
I think you're wrong to speak on behalf of lower income single mothers to whom have been left to bring a child up into this world without the assistance of a father as well as those to whom are denied equal opportunity because of the color of their skin but as for the rest I'd have to say you're correct...
The point being that while the average person may feel a little squeeze that is not requiring them at this point to make any real changes in their lives and those changes that may be required are not coming from basic necessities, but rather what many would call luxuries or close to it.
The additional point being that the "crisis" is no crisis at all for the vast majority of people, but an economic cycle that is being hyped by the media and politicians and highlighted by the housing debacle in the US which of course was self induced.
I think you're wrong to speak on behalf of lower income single mothers to whom have been left to bring a child up into this world without the assistance of a father as well as those to whom are denied equal opportunity because of the color of their skin but as for the rest I'd have to say you're correct...
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QUINNSCOMMENTARY
- Posts: 901
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Let's Get the Facts About the Economy
K.Snyder;940887 wrote: I think you're wrong to speak on behalf of lower income single mothers to whom have been left to bring a child up into this world without the assistance of a father as well as those to whom are denied equal opportunity because of the color of their skin but as for the rest I'd have to say you're correct...
Is it any difrerent now for the people in that situation than it was four (or 40) years ago. It seems it is only a matter of degree for people who are at the bottom of the economic scale.
Is it any difrerent now for the people in that situation than it was four (or 40) years ago. It seems it is only a matter of degree for people who are at the bottom of the economic scale.
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
Let's Get the Facts About the Economy
My own position in Ireland is that going back to study for my Doctorate has meant that I have already had to seriously tighten my belt anyway. I have a fellowship award to live on until 2010, and its a enough to live on, pay for my apartment and my car etc etc, but I am not living the vida loca, but its fine because my goal is as much a personal one as a monetary one (and the monetary rewards from science are not enormous, but the career is good). Like the US, we are in pretty dire financial straits at the moment, the government department for whom I work have to make significant savings, so that will directly effect my budgetary decisions for my work, but thats fine, I will deal with it on a case by case basis.
Next year the cutbacks are going to be far more serious, and thats going to be the same across all government sectors. In the private world, there are a lot of redundancies at the moment, and quite a few people I know have lost jobs and have mortgage repayments etc, its not great, though people are getting along OK at the moment. I think its how next year goes that will determine how big a hit people are going to take to their lives with all this stuff. Hopefully the worst economic predictions will not come to pass. Our economy has a lot of linkages with the US one, and the UK one (which are both very bad at present) as well as the other European ones (which are supposed to get bad soon).
Its very hard to know, because economists always seem to make a hash of their predictions, which would suggest that perhaps economics is a lot less of a science that people think, and more akin to mass psychology and gambling than careful predictions and valid and predictable mathematical models. I'm sure there are still some difficulties to come, as essentially until everyone works out the true extent of the losses that are going to be incurred by all these property bubbles, no one is going to want to lend to anyone else, and thats going to start hurting business investment and jobs more severely the longer it goes on. Its a real mess if you ask me, and it should put an end to the maniac way that our countries have come to accept that what's good for almost completely unregulated and irresponsible, international and domestic financial markets and large scale capital is always in the national interest, I think we can all see now that this certainly not the case, and the days of worshipping at the alter of markets with the priests of high finance are over.
Next year the cutbacks are going to be far more serious, and thats going to be the same across all government sectors. In the private world, there are a lot of redundancies at the moment, and quite a few people I know have lost jobs and have mortgage repayments etc, its not great, though people are getting along OK at the moment. I think its how next year goes that will determine how big a hit people are going to take to their lives with all this stuff. Hopefully the worst economic predictions will not come to pass. Our economy has a lot of linkages with the US one, and the UK one (which are both very bad at present) as well as the other European ones (which are supposed to get bad soon).
Its very hard to know, because economists always seem to make a hash of their predictions, which would suggest that perhaps economics is a lot less of a science that people think, and more akin to mass psychology and gambling than careful predictions and valid and predictable mathematical models. I'm sure there are still some difficulties to come, as essentially until everyone works out the true extent of the losses that are going to be incurred by all these property bubbles, no one is going to want to lend to anyone else, and thats going to start hurting business investment and jobs more severely the longer it goes on. Its a real mess if you ask me, and it should put an end to the maniac way that our countries have come to accept that what's good for almost completely unregulated and irresponsible, international and domestic financial markets and large scale capital is always in the national interest, I think we can all see now that this certainly not the case, and the days of worshipping at the alter of markets with the priests of high finance are over.
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Let's Get the Facts About the Economy
QUINNSCOMMENTARY;940993 wrote: Is it any difrerent now for the people in that situation than it was four (or 40) years ago. It seems it is only a matter of degree for people who are at the bottom of the economic scale.
Yes, and I'll tell you why...
First of all the price of everything's going up...Bread, gas, movies...I went to the grocery store the other day to get ingredients for two meals...Stuffed peppers and spaghetti...The stuffed peppers were delicious...I was actually trying RedGlitters' recipe...I spent $55...3 medium Green bell peppers(Mango) were a dollar each...I can grow(And am, only my green bell peppers aren't ready for picking yet and not to feed 6 people) 1 plant that produces roughly 12-15 Green bell peppers a year costs roughly a dollar...That alone should tell you how the market has gone up or at least how perverse the market is...Which dives into the question..."Well, why hadn't those people you've spoken of made their own garden?"...from which they're unable to because necessities in life associated with the economy they live in have gone up as well...Gas has risen to float around $120 a barrel which is making the cost of everything to go up...Those necessities these people need to live a healthy lifestyle literally drains every penny they make and not only are the lower classes effected but the middle classes as well...The people from which I were referring earlier mostly cannot afford houses nor to even rent housing structures rather most of them live in apartments..,They can't grow gardens in apartments not to mention those to whom are raising their children alone...There's no time for it...
You may not still be convinced...
Richer, better-educated people live longer than poorer, less-educated people. According to calculations from the National Longitudinal Mortality Survey which tracks the mortality of people originally interviewed in the CPS and other surveys, people whose family income in 1980 was greater than $50,000, putting them in the top 5 percent of incomes, had a life-expectancy at all ages that was about 25 percent longer than those in the bottom 5 percent, whose family income was less than $5,000. Lower mortality and morbidity is associated with almost any positive indicator of socioeconomic status, a relationship that has come to be known as "the gradient." African-Americans have higher but Hispanic Americans lower mortality rates than whites...
[...]
Darren Lubotsky and I have investigated the relationship between income inequality, race, and mortality at both the state and metropolitan statistical area level. In both the state and the city data, mortality is positively and significantly correlated with almost any measure of income inequality.
[...]
The two way mechanism between income and health is generally difficult to disentangle, but Anne Case, Lubotsky, and Paxson eliminate the channel that runs from health to income by focusing on children where the correlation between their poor health and low family income cannot be attributed to the lower earnings of the children. Using several large, nationally representative datasets, they find that children's health is positively related to household income, and that the relationship between household income and children's health status becomes more pronounced as children grow older. A large component of the relationship between income and children's health can be explained by the arrival and impact of chronic health conditions in childhood; children have much the same health status at birth, but adverse health shocks are more effectively reversed by children in better-off households. Children's health is closely associated with long-run average household income, and the adverse health effects of lower permanent income accumulate over children's lives, so that the children of poorer parents arrive at the threshold of adulthood with lower health status and educational attainment -- the latter, in part, as a consequence of poor health. Case, Lubotsky, and Paxson speculate that poorer health and consequent lower educational attainment may compromise poor children's earnings ability in adulthood, and that the gradient in adults is likely a product of poor health status and low income in childhood.
http://www.nber.org/reporter/spring03/health.html
It's common knowledge that income has a major affect on health...Living paycheck to paycheck isn't exactly a day in the park even if people aren't starving on the street...
As has Bryn alluded to earlier one doesn't have to necessarily be within a depression to feel the affects of inflation, even when it is within a society with a relatively acceptable economy...
Everyone may not exactly be losing their homes and living on the streets but, and God forbid, their health is going to decline...
Health being "So, how has the current economy adversely affected you directly?"...
The conclusions from the survey implies to me that the affects are incremental with all socio economical groups...
Even further is medical inflation associated with inflation...
Illness and medical bills caused half of the 1,458,000 personal bankruptcies in 2001, according to a study published by the journal Health Affairs.
Bankruptcy Bill
• Senate Passes MBNA's Bankruptcy Bill
• Congress Ready to Tighten Bankruptcy Law
• Medical Bills Leading Cause of Bankruptcy, Harvard Study Finds
The study estimates that medical bankruptcies affect about 2 million Americans annually -- counting debtors and their dependents, including about 700,000 children.
Surprisingly, most of those bankrupted by illness had health insurance. More than three-quarters were insured at the start of the bankrupting illness. However, 38 percent had lost coverage at least temporarily by the time they filed for bankruptcy.
Most of the medical bankruptcy filers were middle class; 56 percent owned a home and the same number had attended college. In many cases, illness forced breadwinners to take time off from work -- losing income and job-based health insurance precisely when families needed it most.
Families in bankruptcy suffered many privations -- 30 percent had a utility cut off and 61 percent went without needed medical care.
The research, carried out jointly by researchers at Harvard Law School and Harvard Medical School, is the first in-depth study of medical causes of bankruptcy. With the cooperation of bankruptcy judges in five Federal districts (in California, Illinois, Pennsylvania, Tennessee and Texas) they administered questionnaires to bankruptcy filers and reviewed their court records.
Dr. David Himmelstein, the lead author of the study and an Associate Professor of Medicine at Harvard commented: "Unless you're Bill Gates you're just one serious illness away from bankruptcy. Most of the medically bankrupt were average Americans who happened to get sick."
Today's health insurance policies -- with high deductibles, co-pays, and many exclusions -- offer little protection during a serious illness. Uncovered medical bills averaged $13,460 for those with private insurance at the start of their illness. People with cancer had average medical debts of $35,878.
"The paradox is that the costliest health system in the world performs so poorly. We waste one-third of every health care dollar on insurance bureaucracy and profits while two million people go bankrupt annually and we leave 45 million uninsured" said Dr. Quentin Young, national coordinator of Physicians for a National Health Program.
"With national health insurance ('Medicare for All'), we could provide comprehensive, lifelong coverage to all Americans for the same amount we are spending now and end the cruelty of ruining families financially when they get sick."
http://www.consumeraffairs.com/news04/2 ... study.html
Yes, and I'll tell you why...
First of all the price of everything's going up...Bread, gas, movies...I went to the grocery store the other day to get ingredients for two meals...Stuffed peppers and spaghetti...The stuffed peppers were delicious...I was actually trying RedGlitters' recipe...I spent $55...3 medium Green bell peppers(Mango) were a dollar each...I can grow(And am, only my green bell peppers aren't ready for picking yet and not to feed 6 people) 1 plant that produces roughly 12-15 Green bell peppers a year costs roughly a dollar...That alone should tell you how the market has gone up or at least how perverse the market is...Which dives into the question..."Well, why hadn't those people you've spoken of made their own garden?"...from which they're unable to because necessities in life associated with the economy they live in have gone up as well...Gas has risen to float around $120 a barrel which is making the cost of everything to go up...Those necessities these people need to live a healthy lifestyle literally drains every penny they make and not only are the lower classes effected but the middle classes as well...The people from which I were referring earlier mostly cannot afford houses nor to even rent housing structures rather most of them live in apartments..,They can't grow gardens in apartments not to mention those to whom are raising their children alone...There's no time for it...
You may not still be convinced...
Richer, better-educated people live longer than poorer, less-educated people. According to calculations from the National Longitudinal Mortality Survey which tracks the mortality of people originally interviewed in the CPS and other surveys, people whose family income in 1980 was greater than $50,000, putting them in the top 5 percent of incomes, had a life-expectancy at all ages that was about 25 percent longer than those in the bottom 5 percent, whose family income was less than $5,000. Lower mortality and morbidity is associated with almost any positive indicator of socioeconomic status, a relationship that has come to be known as "the gradient." African-Americans have higher but Hispanic Americans lower mortality rates than whites...
[...]
Darren Lubotsky and I have investigated the relationship between income inequality, race, and mortality at both the state and metropolitan statistical area level. In both the state and the city data, mortality is positively and significantly correlated with almost any measure of income inequality.
[...]
The two way mechanism between income and health is generally difficult to disentangle, but Anne Case, Lubotsky, and Paxson eliminate the channel that runs from health to income by focusing on children where the correlation between their poor health and low family income cannot be attributed to the lower earnings of the children. Using several large, nationally representative datasets, they find that children's health is positively related to household income, and that the relationship between household income and children's health status becomes more pronounced as children grow older. A large component of the relationship between income and children's health can be explained by the arrival and impact of chronic health conditions in childhood; children have much the same health status at birth, but adverse health shocks are more effectively reversed by children in better-off households. Children's health is closely associated with long-run average household income, and the adverse health effects of lower permanent income accumulate over children's lives, so that the children of poorer parents arrive at the threshold of adulthood with lower health status and educational attainment -- the latter, in part, as a consequence of poor health. Case, Lubotsky, and Paxson speculate that poorer health and consequent lower educational attainment may compromise poor children's earnings ability in adulthood, and that the gradient in adults is likely a product of poor health status and low income in childhood.
http://www.nber.org/reporter/spring03/health.html
It's common knowledge that income has a major affect on health...Living paycheck to paycheck isn't exactly a day in the park even if people aren't starving on the street...
As has Bryn alluded to earlier one doesn't have to necessarily be within a depression to feel the affects of inflation, even when it is within a society with a relatively acceptable economy...
Everyone may not exactly be losing their homes and living on the streets but, and God forbid, their health is going to decline...
Health being "So, how has the current economy adversely affected you directly?"...
The conclusions from the survey implies to me that the affects are incremental with all socio economical groups...
Even further is medical inflation associated with inflation...
Illness and medical bills caused half of the 1,458,000 personal bankruptcies in 2001, according to a study published by the journal Health Affairs.
Bankruptcy Bill
• Senate Passes MBNA's Bankruptcy Bill
• Congress Ready to Tighten Bankruptcy Law
• Medical Bills Leading Cause of Bankruptcy, Harvard Study Finds
The study estimates that medical bankruptcies affect about 2 million Americans annually -- counting debtors and their dependents, including about 700,000 children.
Surprisingly, most of those bankrupted by illness had health insurance. More than three-quarters were insured at the start of the bankrupting illness. However, 38 percent had lost coverage at least temporarily by the time they filed for bankruptcy.
Most of the medical bankruptcy filers were middle class; 56 percent owned a home and the same number had attended college. In many cases, illness forced breadwinners to take time off from work -- losing income and job-based health insurance precisely when families needed it most.
Families in bankruptcy suffered many privations -- 30 percent had a utility cut off and 61 percent went without needed medical care.
The research, carried out jointly by researchers at Harvard Law School and Harvard Medical School, is the first in-depth study of medical causes of bankruptcy. With the cooperation of bankruptcy judges in five Federal districts (in California, Illinois, Pennsylvania, Tennessee and Texas) they administered questionnaires to bankruptcy filers and reviewed their court records.
Dr. David Himmelstein, the lead author of the study and an Associate Professor of Medicine at Harvard commented: "Unless you're Bill Gates you're just one serious illness away from bankruptcy. Most of the medically bankrupt were average Americans who happened to get sick."
Today's health insurance policies -- with high deductibles, co-pays, and many exclusions -- offer little protection during a serious illness. Uncovered medical bills averaged $13,460 for those with private insurance at the start of their illness. People with cancer had average medical debts of $35,878.
"The paradox is that the costliest health system in the world performs so poorly. We waste one-third of every health care dollar on insurance bureaucracy and profits while two million people go bankrupt annually and we leave 45 million uninsured" said Dr. Quentin Young, national coordinator of Physicians for a National Health Program.
"With national health insurance ('Medicare for All'), we could provide comprehensive, lifelong coverage to all Americans for the same amount we are spending now and end the cruelty of ruining families financially when they get sick."
http://www.consumeraffairs.com/news04/2 ... study.html
-
QUINNSCOMMENTARY
- Posts: 901
- Joined: Sat May 10, 2008 4:56 pm
Let's Get the Facts About the Economy
[QUOTE=K.Snyder;941394]Yes, and I'll tell you why...
I don't dispute all that you say and quote, but the point is that inflation affects poor people more all the time and 2008 certainly is not unique in terms of inflation. In fact, despite the impact of oil on the economy inflation today is still not where it was years ago.
For example: Inflation Rate for years shown
1970 5.92 %
1971 4.30
1972 3.31
1973 6.21
1974 10.98
1975 9.14
1976 5.76
1977 6.45
1978 7.61
1979 11.27
1980 13.52
1981 10.38
1982 6.13
1983 3.21
1984 4.32
1985 3.56
Average during the above period 7.03% per year.
But the orignal question was how is the current economy affecting the real life behavior of the average person, not the ever present outliers that you site as examples.
I don't dispute all that you say and quote, but the point is that inflation affects poor people more all the time and 2008 certainly is not unique in terms of inflation. In fact, despite the impact of oil on the economy inflation today is still not where it was years ago.
For example: Inflation Rate for years shown
1970 5.92 %
1971 4.30
1972 3.31
1973 6.21
1974 10.98
1975 9.14
1976 5.76
1977 6.45
1978 7.61
1979 11.27
1980 13.52
1981 10.38
1982 6.13
1983 3.21
1984 4.32
1985 3.56
Average during the above period 7.03% per year.
But the orignal question was how is the current economy affecting the real life behavior of the average person, not the ever present outliers that you site as examples.
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
-
QUINNSCOMMENTARY
- Posts: 901
- Joined: Sat May 10, 2008 4:56 pm
Let's Get the Facts About the Economy
Its very hard to know, because economists always seem to make a hash of their predictions, which would suggest that perhaps economics is a lot less of a science that people think, and more akin to mass psychology and gambling than careful predictions and valid and predictable mathematical models. I'm sure there are still some difficulties to come, as essentially until everyone works out the true extent of the losses that are going to be incurred by all these property bubbles, no one is going to want to lend to anyone else, and thats going to start hurting business investment and jobs more severely the longer it goes on. Its a real mess if you ask me, and it should put an end to the maniac way that our countries have come to accept that what's good for almost completely unregulated and irresponsible, international and domestic financial markets and large scale capital is always in the national interest, I think we can all see now that this certainly not the case, and the days of worshipping at the alter of markets with the priests of high finance are over.
Right you are on these points, the reluctance to lend money is getting real serious. If we don't get over that, then the housing market and related areas will take a lot longer to recover.
Right you are on these points, the reluctance to lend money is getting real serious. If we don't get over that, then the housing market and related areas will take a lot longer to recover.
"The power of accurate observation is commonly called cynicism by those who have not got it." George Bernard Shaw
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
"If everybody is thinking alike, then somebody is not thinking" Gen. George Patton
Quinnscommentary
Observations on Life. Give it a try now and tell a friend or two or fifty.
Quinnscommentary Blog
Let's Get the Facts About the Economy
QUINNSCOMMENTARY;941401 wrote:
I don't dispute all that you say and quote, but the point is that inflation affects poor people more all the time and 2008 certainly is not unique in terms of inflation. In fact, despite the impact of oil on the economy inflation today is still not where it was years ago.
For example: Inflation Rate for years shown
1970 5.92 %
1971 4.30
1972 3.31
1973 6.21
1974 10.98
1975 9.14
1976 5.76
1977 6.45
1978 7.61
1979 11.27
1980 13.52
1981 10.38
1982 6.13
1983 3.21
1984 4.32
1985 3.56
Average during the above period 7.03% per year.
But the orignal question was how is the current economy affecting the real life behavior of the average person, not the ever present outliers that you site as examples.
My emphasis wasn't on health being of a concern related to the observation that inflation isn't at it's worst compared to it's history rather emphasizing that the rise of prices in any economy affects all populations incrementally...It's not a matter of how bad the economy is in comparison rather the incline...
I don't dispute all that you say and quote, but the point is that inflation affects poor people more all the time and 2008 certainly is not unique in terms of inflation. In fact, despite the impact of oil on the economy inflation today is still not where it was years ago.
For example: Inflation Rate for years shown
1970 5.92 %
1971 4.30
1972 3.31
1973 6.21
1974 10.98
1975 9.14
1976 5.76
1977 6.45
1978 7.61
1979 11.27
1980 13.52
1981 10.38
1982 6.13
1983 3.21
1984 4.32
1985 3.56
Average during the above period 7.03% per year.
But the orignal question was how is the current economy affecting the real life behavior of the average person, not the ever present outliers that you site as examples.
My emphasis wasn't on health being of a concern related to the observation that inflation isn't at it's worst compared to it's history rather emphasizing that the rise of prices in any economy affects all populations incrementally...It's not a matter of how bad the economy is in comparison rather the incline...
Let's Get the Facts About the Economy
QUINNSCOMMENTARY;938142 wrote: ok, you vented, that's good, but you didn't answer the question.
How as the economy actually affected you? Have you cancelled your cable TV, have you stopped eating out altogether? You said you can go to the movies but won't that seems like choice and not a necessity.
I cant say that Im hurting too much. I managed to buy my house (2 months ago) for under $70,000. I have a simple life and am not materialistic. Ive learned much from my parents who live off of solar and wind power, grow their own food, use a wood stove, well water, etc. Kudos to them.
But I can say, working for a outdoor product and hearth manufacturer, sales are down. Way down. Travel in Muskoka where I live (near) has experienced reduced numbers. Boat sales and provincial parks has seen the effects as well.
I cant answer personally, just wanted to get in on this post.
I've enjoyed reading the communication here.
Very very good.
Thanks.
How as the economy actually affected you? Have you cancelled your cable TV, have you stopped eating out altogether? You said you can go to the movies but won't that seems like choice and not a necessity.
I cant say that Im hurting too much. I managed to buy my house (2 months ago) for under $70,000. I have a simple life and am not materialistic. Ive learned much from my parents who live off of solar and wind power, grow their own food, use a wood stove, well water, etc. Kudos to them.
But I can say, working for a outdoor product and hearth manufacturer, sales are down. Way down. Travel in Muskoka where I live (near) has experienced reduced numbers. Boat sales and provincial parks has seen the effects as well.
I cant answer personally, just wanted to get in on this post.
I've enjoyed reading the communication here.
Very very good.
Thanks.
Tan
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Let's Get the Facts About the Economy
Jester;942527 wrote: ... it obvious they changed the line as a prfit management scheme rather than a true ecomoical supply issue, they speculated an up price cause they thought they coudl get away with it... so I changed suppliers got the stuff I used to use delivered in bulk for 1/ 4 less cost.
Off-topic: Good for you! You should send them both a letter telling them why you switched. It'll improve the local industry.
Off-topic: Good for you! You should send them both a letter telling them why you switched. It'll improve the local industry.
Let's Get the Facts About the Economy
The company where my father works had major cutbacks in production. They layed off a lot of people. My dad still has a job, but he had to move down to a lower paying job, which increases stress on paying the bills.
Let's Get the Facts About the Economy
Everything is just fine at this point. Retirement accounts are all back to where they were before the market went south and day to day living is the same as before the economic crisis. As a retiree I have two main concerns. One, inflation and the effect on fixed incomes. I anticipate a big, big increase and will have to reevaluate my personal investment strategy. Second, making sure that my wife and I do not outlive our assets.