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  • How is the economy doing for YOU?

    We keep hearing lately about how the economy is in trouble, what with real-estate, free-trade, etc.

    But anecdotally, everyone I talk to seems to be doing fine. So I figured I'd see how everyone here is doing in today's economy..

    Please post personal observations about yourself and the people around you -- I'd like to know the good and the bad.

    I'll start with myself -- my financial position has never been better.. I'm earning more than ever before, my job is seemingly secure, and I didn't buy a house in the past 5 years so have not felt the housing downturn personally. Gasoline prices are definitely a drag, but not so much so that I've changed my habits. Most of my friends seem to be doing pretty well, but I obviously don't have first hand knowledge there. Overall, though, if it weren't for what I hear about from the news and such, I'd think that the economy is doing fine.

    What's your take?

    3) Support game play in a near-simulation environment. Where the focus of play would not be solely on doing what it takes to win, but doing so utilizing real-world combat strategy and tactics rather than leveraging exploits provided to players by the design of the game engine.

  • #2
    Re: How is the economy doing for YOU?

    My personal financial situation has never been better, and my business is booming.

    ...

    Then again, I work in Bad Debt Collections, so that may not be a great indicator of overall economic health. :p

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    • #3
      Re: How is the economy doing for YOU?

      The canadian dollar fluctuation created a ruckus here while the alberta is getting the richest province. Smaller company who are exporting products to the united state are facing some heavy consequence about the dollar disparity disappearance. As I see the economy here is switching, some stuff will close while others will have an accession. The technologies sectors are booming in quebec tho , there is a lot of opening in those specialize area. But on the other hand the wood sector is in bad shape.


      With the canada and russian and usa conflicts that may spark in the few coming years as everyone is trying to claim the ressouces in the north arctics I think everything is pretty much possible.

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      • #4
        Re: How is the economy doing for YOU?

        The economy is just starting to be factor for me. I am definitely seeing the drag of the dollar in terms of fuel and food prices in my monthly expenses for my family of 3. Fortunately my mortgage and employment will go unchanged, but as such will not account for the added expenses by the declining dollar. In terms of changes, there will be less-to-no travel and other luxury expenses. Not a big deal, but a change none the less.

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        • #5
          Re: How is the economy doing for YOU?

          As a renter, my financial situation is getting better by the day as properties decline in value :D None of the properties I've lived in for the past three years have increased their rents during that time, and in fact some of them have dropped their rents. Condos in my area have declined in value by about 30% and are widely anticipated to hit about 50% of their peak price before stabilizing, so that's great news for me.

          My GF is an interior designer. With all of the foreclosures and anxiety over housing in San Diego, there is pretty much no work for her at the moment. In fact the past 18 months have been very weak for her industry, her pay is off about 35% of where is was two years ago, and I don't anticipate that getting any better at all for another 18 months. In fact I suspect the odds are good that the company she works for will go out of business if things don't pick up this summer. But that's what happens when you work in an industry which is so separated from the necessities.

          My own income has not decreased despite the numerous ongoing "crises." My travel plans and lifestyle are not being adjusted - but Harrys' Bar in Venice has something like 25% off for all Americans! Too bad they didn't have that policy when I was there last year... although I did get a free slice of cake.

          The balance of my friends' positions are very stable. Some work in law enforcement/military and thus have complete job security, others have secure jobs with no current worry of pay rollback or termination. Overall things seem to be going very well; none of them are undergoing a "lifestyle adjustment."

          But don't discount the wealth currently being wiped out by the drops in real estate prices. A 30% national drop would erase about $6.6T, iirc. That's a lot of money.
          A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

          "$250,000 a year won't get me to Central Park West."

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          • #6
            Re: How is the economy doing for YOU?

            My family and I are in about the same boat as AMosely. Our incomes (wife and I are in medicine lab work) are secure and raises come yearly but the cost of living is going up as well. We have cut back on "fun" money and travel is out of the question when gas is $4+ per gallon. I paid 4.15/gallon today in San Francisco. We will be fine but will need to keep an eye on the spending if we are ever going to buy a house.


            Sarcoma and Family
            Sarcoma.

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            • #7
              Re: How is the economy doing for YOU?

              Originally posted by Sarcoma View Post
              We will be fine but will need to leave San Francisco if we are ever going to buy a house.
              Fixed that for you. You can probably buy a house now. Just not where you live.

              My personal economic situation is better than I ever dreamed possible.

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              • #8
                Re: How is the economy doing for YOU?

                Originally posted by xTYBALTx View Post
                But don't discount the wealth currently being wiped out by the drops in real estate prices. A 30% national drop would erase about $6.6T, iirc. That's a lot of money.
                I wonder about that. During the tulip bubble, a lot of people were chasing worthless tulips with cash that would be better spent increasing productivity. Is not the same thing happening now? All the money tied up in housing is now being freed for other uses. I expect some inflation is caused by a sudden bid-up with this sudden dumping of money into the rest of the economy.

                I've had my house since the mid-90's, so I'm not seeing any hardship. I bought it to live in, not to speculate. My company has new customers in spite of industry downturns. (Competence ftw! ;))
                Dude, seriously, WHAT handkerchief?

                snooggums' density principal: "The more dense a population, the more dense a population."

                Iliana: "You're a great friend but if we're ever chased by zombies I'm tripping you."

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                • #9
                  Re: How is the economy doing for YOU?

                  My fiancee and I are on the cusp of a major life shift, and until then are more or less locked into our current jobs. She has security and benefits with low pay (bioscience post-doc). I have high pay but no security (software contractor / media production). We are feeling the pinch of trying to save for a house, pay for a wedding, and keep up with rising food and fuel costs in the greater Boston area. In two years our situation, income and probably location will be very different.

                  The only real macroeconomic thing that worries me other than daily cost of living is watching my mutual funds savings from 2002 start to dip. Will probably start moving that money to safer places as they start to convert to A shares, depending on how things look next year.
                  In game handle: Steel Scion
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                  • #10
                    Re: How is the economy doing for YOU?

                    Well, I believe this supposedly bad economy is such a farce. Sure, there will always be particular local economies that have real problems, but that happens all the time no matter what. I don't feel bad for all the tards in Cali and elsewhere who bought million dollar homes on ARM and reverse amortization mortgages because they speculated too much. I don't feel bad for the people who refuse to quit driving their SUV's and Trucks unnecessarily while I've always been smart and driven economical cars BEFORE the gas prices shot up.

                    I have not felt the housing crunch. I sold my home last year, and I still made money, but when I did have it, I was smart enough to take the 6% fixed instead of the 2.5% ARM. Interest rates change. DUH!

                    I drive a Mazda 3 hatchback that I average 30+ mpg and had my first fill up over $40 last week. I drive about 400 miles to work, twice a week, and I still only spend about $90 a week in gas. Big deal. It's still only half what they pay in Europe.

                    I have noticed grocery prices going up, BUT it hasn't been been enough for me to make any real changes.

                    If this economy is ssssooooo bad, then why have I not seen any people making real sacrifices and changes? Everywhere I look, restaurants are totally packed every night, Hotels and Ski hills were packed when I went to CO a few weeks ago. People still love their SUV's and trucks. People are still buying lots of nice things. Slower economy? Sure. Possible recession in our future. Quite possibly. BAD economy right now? Nope. I'm not buying it.

                    One last thing. The prices of things have gone up. How have I dealt with inflation? Easy. Since I do contract work, I've simply raised my rates by around 15% since January. Not one client has turned down my new daily rates. Certain sectors of the economy are booming. There are money making opportunities abound, and if you're not taking advantage of them, that's on you.
                    "Common sense is not so common." -Voltaire

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                    • #11
                      Re: How is the economy doing for YOU?

                      Hmm, lets see. I'm currently unemployed, my savings is quickly dwindling due to the increased cost of fuel, food and general merchandise. Due to the increased operations costs of most businesses, it's getting harder and harder to find a job and get out of this situation. Even then, I still have to deal with the increased price of everything due to cost of shipping and transportation. All in all, I'm not in danger of losing anything yet, but I'm not at all happy with my situation and the lack of opportunities in my area due to the economy.

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                      • #12
                        Re: How is the economy doing for YOU?

                        Originally posted by Elwenil View Post
                        Hmm, lets see. I'm currently unemployed, my savings is quickly dwindling due to the increased cost of fuel, food and general merchandise. Due to the increased operations costs of most businesses, it's getting harder and harder to find a job and get out of this situation. Even then, I still have to deal with the increased price of everything due to cost of shipping and transportation. All in all, I'm not in danger of losing anything yet, but I'm not at all happy with my situation and the lack of opportunities in my area due to the economy.
                        Then get out of your area. Pack up the wife and kids and move onto better opportunities. I'm sorry things aren't going well for you, but too many people are tied down to one place. Back in my great-grandfather's day, my grandfather's day, and even my father's day, whenever work would dry up, they'd move to wherever the jobs were. That's how my great-grandfather ended up in the oilfields of Venezuela, my grandfather in Texas. Even during the friggin' Great Depression, they somehow found work. I know you're a trucker, so move out to West Texas. It's not the nicest place, but we can't get enough truckers to run the oilfields out here. There's a serious shortage of labor and they pay very very very well.

                        P.S. I'm not trying to sound insensitive here. Maybe there are circumstances beyond your control. Me personally? I always go where the highest pay and the most jobs are. That's why I work all over the dang place. I'm contract and I've never been more than 2 weeks without work. There's ALWAYS opportunities out there. You just gotta take the bull by the horns and grab them. I hope things improve for you.
                        "Common sense is not so common." -Voltaire

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                        • #13
                          Re: How is the economy doing for YOU?

                          Believe me, I will pack up and move if it comes to that but quite honestly, I don't have the savings to move everything so if I did go elsewhere to work it would be a super cheap motel deal for a while until I had the cash to move everything. Plus I own my house here and I'm not really pleased about the prospect of selling it with the market like it is now, nor buying another when I get where I'm going. There are a lot of things on the table now that I am looking at, and I am resourceful enough that I will not starve or get behind on my bills, but I'll only make a move if it's needed. I make enough money now on the side, as I did when working full time to keep my head above water, so I can give myself a little leeway in finding a better job/career but I am watching the economy closely so I know if I'm headed for bad times. I live in a small town with little opportunity to begin with, so I sort of prepared for this.

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                          • #14
                            Re: How is the economy doing for YOU?

                            I'm doing great because I'm in a static field. Simple reason: human beings will continue to get sick and injure themselves forever. There is also still (and will perpetually continue to be) a huge nursing shortage everywhere, so my job prospects are limitless should I choose a change of venue. I rent a home, so I dont worry much about the housing market, and I ride a motorcycle which gets 80 miles to the gallon, so gas prices dont really bother me as much as, say, anyone else I know.

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                            • #15
                              Re: How is the economy doing for YOU?

                              I'm doing well in spite of the economic downturn. Several [bio]tech companies in my area recently laid off a number of employees (including my company). The cost of a gallon of regular unleaded gas is above $4 in some areas and cost of groceries is rapidly increasing. College tuition fees are skyrocketing. I'm looking at a mountain of debt when I decide to enroll in grad school.

                              Although I'm annoyed by the increases in price, I'm not feeling any economic pain.



                              TacticalGamer TX LAN/BBQ Veteran

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