Economics 101

[Blu-Ron]

I'm being serious here, gentlemen.
What's all this "we are going through hard times" thing? Can someone explain this to me?
My wife and I still have the same habits as before this so called economic crisis. I still have a job that pays me a ridiculous amount of money. I still put gas in my car every other day. My wife and I buy groceries every week. I buy all the Blu's that come out that I want. People still buy from me on eBay.
I don't see the whole "tightening the ol' belt" thing that everyone's doing. Is there something I'm doing wrong? Or not understanding?

I'd appreciate all the feedback.

[andyman1970]

I'm a little lost on this one too. I still have the same spending habits as before and I don't make a lot of money. Gas prices are droping like crazy now but people still have this collective "doom and gloom" out look on the economy which makes things seem worse then they are. If fact it seems like things are getting better from my perspective. If every one would quit listening to the media about how bad things are and start thinking to themselves "things are getting better" then eventually they will.

[Blu-Ron]

Don't get me wrong. I wasn't trying to sound mean or anything. Cause I know some folks are really struggling. And my wife and I help when ever we can (trust me). It just seems like everytime we get into this economic crisis, nothing really changes for me.

[sssick]

I think you are being a little naive if you think that there is no econimic problems, just because you aren't feeling it yet.

Over a quarter million people lost thier jobs in October. Those people stop spending, hurt the businesses that they usually buy from, they fire people, and the cycle continues. Thats economics 101.

[Blu-Ron]

Originally Posted by sssick

I think you are being a little naive if you think that there is no econimic problems, just because you aren't feeling it yet.

Over a quarter million people lost thier jobs in October. Those people stop spending, hurt the businesses that they usually buy from, they fire people, and the cycle continues. Thats economics 101.

Might wanna re-read my initial post there tough-guy. Never said there wasn't an economic problem. It's here and it's real. I just don't see what all the fuss is about.

[mikejet]

I'm doing great. When gas was high I cut back on blu's but now that it's half the price from it's peak, I can buy more.

Getting some tomorrow. Might get Singstar too. Wife want's it.

[sssick]

Originally Posted by Blu-Ron

Might wanna re-read my initial post there tough-guy. Never said there wasn't an economic problem. It's here and it's real. I just don't see what all the fuss is about.

You come in here posting that you don't see what the big deal about the worst ecominc times in at least 25 years, and expect no one to say something? "My job still pays me a ridiculous amount of money!" lol

[Go Blue]

It hasn't affected my way of life...yet, but it did murder the money accumulated in my 401K.

[Blu-Benny]

everyone's situation is different. if u're getting paid a "ridiculous" amount of money then maybe you're better off than some other people. do u have kids to provider for??? that's a huge expense for a lot of people.

i myself make descent money for what i do. i have 2 kids, maybe others don't. there's no way i could've afforded daycare for both kids so my wife cut back @ work and is almost done w/her schooling so she can work from home. so we are basically living on 1 income. i for one have not been contributing to the economy the way i used to b/c of this.

i feel the crunch a little bit but is the situation i'm in. is also work for a company that has gov't contracts so i really don't have to worry about my job as of yet. but if u work for an auto maker, i'd be a little worried right now.

that's my $0.02.

[Blu-Ron]

Originally Posted by sssick

You come in here posting that you don't see what the big deal about the worst ecominc times in at least 25 years, and expect no one to say something? "My job still pays me a ridiculous amount of money!" lol

So I'm lame cause I'm educated and made sure that I get a high paying job to provide for my family?

[Bigdog]

Originally Posted by sssick

You come in here posting that you don't see what the big deal about the worst ecominc times in at least 25 years, and expect no one to say something? "My job still pays me a ridiculous amount of money!" lol

Really there is nothing worse then a person that feels the need to brag about his income or how lucky they are. Then worst of all equate that to everyone else should be doing fine also, during the worst financial crisis this country has seen since the 1930's.

[Teabaggins]

blu-ron, it doesn't affect me as well because I've always lived way below my means. It doesn't take much to make me happy and I've always paid in cash for everything.

the only thing I make payments on is my mortgage and I put so much down that I could easily make payments even if I had to work at mcdonalds should something unexpected happen in my industry or job.

However, I do understand that others are struggling and why they might get upset by your post, people get touchy when they lose their homes and things seem bleak for them.

it just seemed like you were rubbing it in their faces a bit with your first post and if you can't see that then you have other issues.

[sssick]

Originally Posted by Blu-Ron

So I'm lame cause I'm educated and made sure that I get a high paying job to provide for my family?

No, but to come on a forum and announce it to people you don't know is tactless. Especially when it is a very bad situation for a lot of people.

I am not one of the unfortunate people that has been effected by the recession, but I'm not going to run out and post how great I am doing and rub it in peoples faces.

[Blu-Ron]

Originally Posted by Teabaggins

blu-ron, it doesn't affect me as well because I've always lived way below my means. It doesn't take much to make me happy and I've always paid in cash for everything.

the only thing I make payments on is my mortgage and I put so much down that I could easily make payments even if I had to work at mcdonalds should something unexpected happen in my industry or job.

However, I do understand that others are struggling and why they might get upset by your post, people get touchy when they lose their homes and things seem bleak for them.

it just seemed like you were rubbing it in their faces a bit with your first post and if you can't see that then you have other issues.

I hear ya and understand. I didn't post this to brag. I posted this to get you guys make me understand.

[Deadset]

Like previously mentioned, people living at or below their means are probably doing ok, as long as they don't work for AIG, the Big 3, or other companies that have been driven into the ground by bad decisions.

I used to design communication equipment for the govt on the defense side, switched out of that about a year ago and now am strictly into power. I see a huge defense pullback in the coming years, of course that industry is cyclical so it's to be expected.

Everyones situation is different, but these are trying times for the general populace. Have I paid more for gas? sure. Do groceries cost more? you bet. I think this ordeal has affected all of us, just some more than others.

[stockstar1138]

Here are the big issues and why many of us havn't felt it.

1. Retirement - People think retirement is a right. People think they should retire in their 60s, because thats when their Dad retired. People don't realize that their is a good chance they could be living to 90 even 100. People don't anticipate and adjust for the future, burn out of money near the age of 80 when they thought they should die and go wtf? im still alive, I don't have any money, SOMEBODY HELP ME!!!

Then we have the baby boomers, some have already begun to retire. Others are going to be retiring in the next couple years and thought they were prepared. However, within the past few months 30% of their investments have been lost. They are now sitting there going, I have to adjust my income down 30% FOR THE REST OF MY LIFE!!!

All that takes a toll on the economy.

2. Credit Crunch - The US lives on credit. People with good credit scores should not run into this problem, but people who don't might have a hard time getting loans for cars, homes and other things. If they can't get a loan, they can't spend the money, which has a trickle down affect on the whole economy.

3. Housing Market - Its in shambles right now, people who bit of more than they could chew are taking losses or getting thrown out. While many of us say, they did that to themselves, it does have an effect on the whole economy and must be taken into consideration.

4. Jobs - While unemployment is not bad right now historically, we are losing jobs at a rapid rate and we are having trouble stopping the bleeding. I see this going near double digits. People don't have jobs, people can't spend money, where they would have spent money has to downsize, now more people don't have jobs. Its a trickle down thing that could snowball. There are people out there right now, I gurantee it that think, Im one of the lucky ones, I got a job, I survived this crisis, I'm safe. However, unemployment is only up like 3-4% from its lows over the past decade. Meaning that if you had 100 people, 4 were already out of work and now only 3 our of the remaining 96 have since lost their jobs. Thats pretty good odds for keeping your job. The issue is going to be in the coming months how many more people are going to affected, thus effecting the entire economy.

At the present time the economy is not horrible, it certainly is not good, but its not OMG, world is gonna end. The problem is that the ground work for a major economic recession has been laid and we are having trouble finding solutions to our economic woes. If we can't fix things rapidly, things will get much, much worse in the coming years.

[JJ]

Originally Posted by Blu-Ron

So I'm lame cause I'm educated and made sure that I get a high paying job to provide for my family?

Not to get touchy, but that sounds a bit like bragging. As well as the "ridiculous amounts of money" bit.

[ZackL]

The main thing effecting me is the market. If you have money on any index I am sure you would have been feeling the economic problems your country is having.

[DetroitSportsFan]

The economic downturn doesn't affect those who have money/jobs. It does affect people that don't have a lot of money or recently lost their job. And there is a lot more of those people in America.

It's not difficult to understand.

[SellmeyourDVD]

Originally Posted by Blu-Ron

I'm being serious here, gentlemen.
What's all this "we are going through hard times" thing? Can someone explain this to me?
My wife and I still have the same habits as before this so called economic crisis. I still have a job that pays me a ridiculous amount of money. I still put gas in my car every other day. My wife and I buy groceries every week. I buy all the Blu's that come out that I want. People still buy from me on eBay.
I don't see the whole "tightening the ol' belt" thing that everyone's doing. Is there something I'm doing wrong? Or not understanding?

I'd appreciate all the feedback.

Of course people who are in the upper middle class and up wont be affected that much by our economy, and in fact, we'll be able to buy even more things that we want becuase they'll be cheaper! You can even say we'll be more prospurous in these harder times for others.

Look at people that have dedicated there whole lives to the auto industry, they're lives are being ruined! All of these people used to be able to walk right into a auto manufacturers job and make $25/hour but these days this is not the case. Wages have been slashed and jobs are bieng lost constantly.