how is the economy effecting you?

[daywane]

I like to ask this from time to time.
I will start 1st.
Not to bad. I have made more this year so far than last. I just hit 30k.
I think I made 28 or 29 k last year (bad year)
been working 50 to 60 hrs a week all year except the last 3 weeks.  40 hrs the last 3 weeks. enjoyed the free time.
got some jobs done around the house.
Plumbing problem fixed, re did my daughters bed room. (painted, carpeted, new outlets)
This year I have spent funds on stocking up for projects till I got time to do them.
worked out very well
10 hr days start back Monday.

school dress code kicking my butt. (daughter just started high school) (last child to put through school) 
I just bought her a new word robe for school. Pants are not exceptable!!!
No holes allowed! There is no holes in my daughters pants! There made with snags in them. no skin is showing. This school has the children line up. Arms over there heads and turn 3 times 20 kids were sent to the office and parents called.
Off to Wal mart we go. We could not find a pair of jeans that would pass! I guess dress pants will be next.

Pains me to think of the parents out of work with this strict of a dress code. I have a good will store in town and I have been watching the parking lot. Very busy.

[danny_galaga]

US economy is having an interesting effect with me. I've been selling modded Jaguar controllers. All to the US. Always $99 US. But our dollar has been rising against the US from the time I started. So what I've actually made in Australian dollars has graduated from $118 for the first one to $108 for the latest one. Of course the flip side is BUYING stuff from the US has become cheaper for me. And since I'm still buying more stuff than I'm making, the net result is to my advantage (",)

[TOK]

The school dress code is a good thing, especially at that age. The only problem is when clothing becomes standardized, they want 200 dollar bookbags to stand out. 

I feel fortunate that my job has been stable so far. No outsourcing as I need to physically be here to do it.
There is something to be said for a craft job. The college buddies that dreaded being tagged as "Blue Collar" have job hopped, had to move around for promotions or aren't working at all.

[hypernova]

We had layoffs for a few 20 months ago.  The rest took a 10/15% pay cut.

We get half that pay cut back in a bonus check assuming business is doing well.  We've gotten it probably 1/2 - 2/3 of the time.

Could be worse.  Though I'd still like my 10% back.

[WhereEaglesDare]

I think that the whole thing is exaggerated.  It was an election year and the press started saying how bad it is, how horrible it is, how people are starving to death because they cant buy bread.  Then it becomes a self fulfilling prophecy.  Am I wrong?

[danny_galaga]

I think that the whole thing is exaggerated.  It was an election year and the press started saying how bad it is, how horrible it is, how people are starving to death because they cant buy bread.  Then it becomes a self fulfilling prophecy.  Am I wrong?

Yes, you are wrong. 9.5 % unemployment is pretty dire for an economy...

[Silas (son of Silas)]

Th UK economy like all global economies took a real kicking in the last 12 months, but there are signs of improvement. Unemployment fell in the West Midlands fell by 6.6% in July. The problem we face is that although employment figures are generally heading in the right direction month on month, the levels of pay in some sectors have spiraled downwards.

I start my new job in the middle of next month and it will be the highest paying salary I have ever had. Whilst that's great, it's worth considering that until I start that job, my current salary is still lower than when I was 20, 17 years ago. Generally I have watched my salary take nose dive after nose dive year on year as the employment figures in my sector have continued to grow, forcing down salaries.

I took the decision to re-train/re-skill about 5 years ago. Whilst still basically working in IT, I gambled that moving into IT Service Management as opposed to being technical would buck the trend in declining salaries. My new job has finally made that decision to re-skill pay off.

[Silas (son of Silas)]

school dress code kicking my butt.

My 14 year old daughter goes to an independent girls school and I nearly choked the first time I got the bill for her uniform. Her full annual kit list set me back just over £600 (approx. $960 USD). Below is a cut and paste of her eye wateringly expensive uniform list:

Compulsory Items:
Regulation school blazer
Regulation maroon fleece scarf
Regulation navy skirt (NB: when purchasing the skirt please ensure that it is no shorter than 3cm above the top of the knee)
Blue chambray blouse, long or short sleeved
Regulation maroon school ‘V’ necked jumper
Regulation Navy jumper
Regulation navy overall for science and art classes
PVC home economics apron and cookery basket
Regulation black shoes must be worn with school uniform (see shoe lists)
Regulation navy school bag – named with tape sewn on shoulder strap and
name label completed

Optional Items:
(These are optional, but no alternative may be worn)
Regulation fleece or duffle coat
Navy gloves
Hair ties, maroon, navy, black or the same shade of blue as the school blouse.
Uniform List Senior School June 2010
Hair fasteners must be small and discreet
Regulation navy “Mac in a Sac”

Senior School Games Kit:
Gymnastics, Trampoline and Dance
White trampoline shoes or clean white ankle socks to be kept in Games bag at all times

Swimming:
Regulation costume
Plain swimming cap in team colour
Regulation navy swimming bag with name tape sewn on the outside

Sports Kit:
Navy wrap-over skirt
Regulation maroon sports shirt
Regulation navy hockey socks
Regulation navy cycle style shorts
Navy sweatshirt
Navy track suit
Leather or synthetic football boots used for occasional football lessons.
These must have plastic moulded studs. Metal studs are not allowed.
Training shoes
Black or white canvas plimsolls to be worn inside the gym only
White ankle socks for trampoline and summer games
A hand towel should be brought to school and kept in the games bag at all times
Regulation navy games bag - must be named with name tape sewn on the shoulder strap
Shoe or boot bag (any design / colour)

Additional Items:
Hockey stick (Autumn & Spring terms)
Tennis racquet (Summer term only)
Athletics spikes (optional – Summer only)
Shin pads (for hockey & football)
A mouthguard / gum shield is strongly recommended for football & hockey
Astro shoes (Autumn & Spring terms)

[daywane]

OUCH! 
I would be venting for a week

[TOK]

I think that the whole thing is exaggerated.  It was an election year and the press started saying how bad it is, how horrible it is, how people are starving to death because they cant buy bread.  Then it becomes a self fulfilling prophecy.  Am I wrong?

I think there is definitely something to what you are saying. There is a cluster of restaurants near me, and through this whole thing there have been lines outside of them every weekend night. If people are waiting an hour to get into Red Lobster or god-awful TGI Fridays, can things really be that bad?

Guess maybe because there were no unemployment benefits during the Great Depression, that time is always going to seem way worse.

[WhereEaglesDare]

I didn't say it wasnt bad right now, but if you tell businesses that this is a horrible economy over and over again, they will start cutting fat and stop hiring.  I dont think that news anchrs should get on the TV for hours at a time bragging about how bad the economy is, that is just going to make it worse.  It was one of the tools to get the democrats elected in 08, but when it started working and everything went down hill it got out of hand.

[ark_ader]

It is effecting me in a positive way.

There is a lot more cheap labor out there.

Why pay anyone $15 an hour when you can get people for $6.50.

Let's hope it stays this way for a while.  

Happy days.

[wweumina]

Luckily the Australian economy isn't going too bad.  The State I live in is a bit worse though and my boss is off on stress leave.  Good thing is that I'm getting paid to do his job, bad news is that I'm doing my job too and not getting paid for both.

[WhereEaglesDare]

STRESS LEAVE?  Is that a real thing?!

[mmb]

Well, my wife lost her job in the banking/lending sector in the spring and there have been no job openings in her specialty within 75 miles of our home in the last 6 months.

We're going to ride it out and see what happens in the next few years.  But yes, within certain sectors, the it is more than just a line on the nightly news.

[Blanka]

Ah, the Germans have 10% of their total workforce being doctors, and so that economy is pretty stable, and thus they buy our cheese, tomatos and cucumbers, so no worries here in the Netherlands too. Except... some wacky things can happen with the new government being created right now. They have some strange plans that might affect stability.

[CheffoJeffo]

Maybe his wife isn't the primary breadwinner ... 

[WhereEaglesDare]

maybe its easier to collect the unemployment check...

NOT POINTING FINGERS, I dont know you or your wife, but I have known a few people that had jobs lined up that "paid less than their unemployment" so they didn't want to take the job.  Someone mentioned earlier that they didnt have unemployment in the depression, but perhaps it is just making today's problem worse.

Sorry if it seemed like I was being accusatory...

[saint]

Wow, what a bunch of judgment going in here... Picking up and moving isn't always that easy, particularly if you own a home.  Remind me to watch out when you guys are near a pile of rocks...
 

[mmb]

And you haven't moved.... why?

Guess it's easier to sit and wait.

Well, we own a home on acreage that we can never sell for what it's actually worth, family in the area, kids in school, and while things are now tighter, she doesn't need to work.

maybe its easier to collect the unemployment check...

NOT POINTING FINGERS, I dont know you or your wife, but I have known a few people that had jobs lined up that "paid less than their unemployment" so they didn't want to take the job.  Someone mentioned earlier that they didnt have unemployment in the depression, but perhaps it is just making today's problem worse.

Sorry if it seemed like I was being accusatory...

Nice.  She left her position voluntarily so that the employees under her would be able to keep their jobs and insurance.  Sounds like you need to hang out with a better class of loser, Skippy.

[danny_galaga]

I didn't say it wasnt bad right now, but if you tell businesses that this is a horrible economy over and over again, they will start cutting fat and stop hiring.  I dont think that news anchrs should get on the TV for hours at a time bragging about how bad the economy is, that is just going to make it worse.  It was one of the tools to get the democrats elected in 08, but when it started working and everything went down hill it got out of hand.

I can see your point. But it is wrong. If things are going swimmingly, an employer deserves to go broke if they cut staff just because the TV told them to. If they are making money, they are making money. They need staff to do that. When they announce that there is 9.5% unemployment, I can believe that to be a fair indication that things aren't going brilliantly in that economy. Our unemployment rate is under 6% at the moment and THAT"S too high...

[javeryh]

I am still employed and thankful for it.  I took a 15% pay cut last year as did everyone else but this year they are paying it back in the form of a bonus provided you are still here in March 2011 when it actually gets paid out.  It sucks though because bonuses get taxed more.  My wife works part time (basically as much or as little as she wants).  The good thing is that earlier this year we finished paying off my Rav4 so we have no debt other than the mortgage.  I really hope things start picking up - even though I've been fairly busy at work I could use a little job security.

[jamesjones626]

It is effecting me in a positive way.

There is a lot more cheap labor out there.

Why pay anyone $15 an hour when you can get people for $6.50.

Let's hope it stays this way for a while.  

Happy days.

i love mexican labor too my friend.  Why pay someone full price when you can get us for a case a beer?  I like this attitude of "get the illegals out!".  Now for most people when they hear illegal aliens they think mexicans and nothing else.  In my opinion the USA need us here, its a necissary evil.

[shateredsoul]

In California

Fees and registration at UC schools (University of California public schools, includes UCLA, UC Berkeley, and my school) have gone up up up!

My pay as a Teaching Assistant and now a Graduate Student Researcher has not gone up, but they cover tuition and give you some $$ at the end.. not so bad.  Unfortunately family student housing has been going up by $100 each year for the last few years (our pay doesn't go up to match).  Two years ago the rent was ~ $1200 now it's ~1400 (and 5 years ago it was ~ 900).  Rent in the surrounding city has not gone up by this much and living off campus is actually a bit more appealing.

We ha 2 bedrooms and are renting one for $500 so we are ok financially but we are feeling very cramped. My wife's Dad lost a bunch of work so we're helping out her family (my wife works full time at a biotech).. so yeah.  It sucks. Can't complain overall, but we should be saving for a wedding (we were hoping to have a Catholic wedding and already had a civil + small reception).

not happening anytime soon..

[WhereEaglesDare]

It is effecting me in a positive way.

There is a lot more cheap labor out there.

Why pay anyone $15 an hour when you can get people for $6.50.

Let's hope it stays this way for a while.  

Happy days.

i love mexican labor too my friend.  Why pay someone full price when you can get us for a case a beer?  I like this attitude of "get the illegals out!".  Now for most people when they hear illegal aliens they think mexicans and nothing else.  In my opinion the USA need us here, its a necissary evil.

Okay here I go, off the deep end....

If there was no minimum wage then employers could play legal workers what they thought they were worth.  With Minimum wage at 7.25 they have to sit and think, is that guy WORTH my 7.25 an hour....  Plus all minimum wage increases do is create a false sense of a pay raise, when it goes up, so do the costs of most products because the people making, ordering, selling, shipping these products also may get a "pay raise" which in turn increases the cost of the labor across the board. 

If the government wasnt making employers pay a minimum wage at a point of a gun, then labor would be cheaper for legal citizens and workers and the cost of most products would go down.

[danny_galaga]

It is effecting me in a positive way.

There is a lot more cheap labor out there.

Why pay anyone $15 an hour when you can get people for $6.50.

Let's hope it stays this way for a while.  

Happy days.

i love mexican labor too my friend.  Why pay someone full price when you can get us for a case a beer?  I like this attitude of "get the illegals out!".  Now for most people when they hear illegal aliens they think mexicans and nothing else.  In my opinion the USA need us here, its a necissary evil.

Okay here I go, off the deep end....

If there was no minimum wage then employers could play legal workers what they thought they were worth.  With Minimum wage at 7.25 they have to sit and think, is that guy WORTH my 7.25 an hour....  Plus all minimum wage increases do is create a false sense of a pay raise, when it goes up, so do the costs of most products because the people making, ordering, selling, shipping these products also may get a "pay raise" which in turn increases the cost of the labor across the board. 

If the government wasnt making employers pay a minimum wage at a point of a gun, then labor would be cheaper for legal citizens and workers and the cost of most products would go down.

No, if employers could pay whatever they wanted, most of us would be 'serfs' living from day to day. Cost of living would be way out of reach of most people. The difference employers save in not paying you so much won't go to services and products being cheaper. It will mostly go to their pockets 

there's a book called 'Going Postal' By Mark Ames. I recommend it. Part of the book goes to explaining why the average worker in the US is worse off now than in the 70's...

[Dartful Dodger]

I just bought a house so I want to unload the condo.  There's a bunch of condos in my building that are going for 4 grand less than I owe on mine and they aren't even selling.  I'm going to talk to a lawyer this week to see if I should let the condo go into forecloser or try and negotiate a short sale with the bank.

It'll screw my credit rating, but I have a house, a car and credit cards so I figure by the time I need a good credit score again I'll have built it back up.

Again, I'm not sure how forclosers/short sales work especially when you can afford to pay your mortgage and you’re just choosing not to. If they can take the difference out of my paycheck or take the other house, I won’t do it.

[HaRuMaN]

They can most definitely hit you for the difference.  Your best bet would be to take the $4K loss and be done with it, no fouled up credit, no one coming after you for money.

[Dartful Dodger]

In Illinois a house loan is like a car loan.  They should just take the car/house if you can’t make the payments. Since I can make the payments I might have some issues.

It might take a few months for them to actually foreclose so I need to know what bills I need to keep paying.  Because the utilities, tax and association fees are separate from the house. Plus I need to make sure my insurance is kept up to date.

That's why I need to talk to a lawyer to make sure I have all my ducks in a row.

[HaRuMaN]

Is finding a renter an option?

Might allow you to keep the place until the housing market gets better... 

[Dartful Dodger]

Is finding a renter an option?

Might allow you to keep the place until the housing market gets better... 

I bought the house for 200 grand less than what it's worth, not what it was worth before the housing collapse, but for what I can actually sell it for right now.

I thought about renting the condo, but between idiot renters destroying the place and not being able to cover the mortgage and the association fees with the rent it’s not a pleasant option.

I’ll be out 40 grand if I walk away from the condo, but I’m up 200 grand with the house.

If the lawyer says I’m screwed I’ll probably rent it until I can sell it clean.

[Dartful Dodger]

I may have spoken to soon.

For 2 months my realtor has been telling me to talk to a lawyer about a short sale or foreclosure, because I wouldn't be able to sell my place for more than I owe on it. He’s the one who sold me the other house, and it was a great deal so I trust him. This weekend I decided it wouldn't hurt to talk to the lawyer.

To make sure I had all the facts about my complex I checked the listings again.  The two short sales that were driving down the prices are now gone. The lowest place for sale now is about 19 grand more than I owe on my place(10 grand less than what I’m currently at).

Hopefully those POSs are no longer on the market so future buyers won't be distracted and I might actually be able to unload this thing without destroying my credit and with an extra grand or two. 

I sent my realtor an email to ask him what's going on.

[divemaster127]

Until our government(US) follows Englands example, things are not going to get better, our spend happy government both Republicans & democrats are spending like its going out of style.  I do supply for the military I will never forget I had to process a order of 42" plasmas for prisoners at Git mo but our Va's cannot afford old 20" style TVs.  My job is very secure do to the government always spends no matter what but we did get our retirement yanked.  My wife owns her own Salon & she stays busy.  The Arcade business is way down not much profit there anyway.  Cinemark approached me to run 1 of there gamerooms so that's nice extra money.
dm

[shateredsoul]

It is effecting me in a positive way.

There is a lot more cheap labor out there.

Why pay anyone $15 an hour when you can get people for $6.50.

Let's hope it stays this way for a while.  

Happy days.

self centered

[WhereEaglesDare]

It is effecting me in a positive way.

There is a lot more cheap labor out there.

Why pay anyone $15 an hour when you can get people for $6.50.

Let's hope it stays this way for a while.  

Happy days.

self centered

How is that self-centered?

[AtomSmasher]

It is effecting me in a positive way.

There is a lot more cheap labor out there.

Why pay anyone $15 an hour when you can get people for $6.50.

Let's hope it stays this way for a while.  

Happy days.

self centered

How is that self-centered?

He hopes the economy stays bad and the unemployment rate stays high so that he can save money on employment costs.  I can't say I blame the guy, but it is self-centered.

[hyiu]

it might not be the politically correct respond that pleases everyone...
but the topic is how is the economy effecting "YOU"...
so, he is saying how it is affecting him, and how he wants things...

I still have a job, but no raise this year....
I have no debt, so my life style is not that much affected.
But budget is tighter, as salary stays the same, but spending on all directions goes up...

also, my stock portfolio is whacked hard... cos I hold the bad stocks...
although that has no immediate effect...
but it does hurt mentally, and my retirement savings are impacted....
well, you can say "luckily".... I still have time...
or from another point of view... I still have to work many many years....
dont really see the light at the end of the tunnel yet....
lol...

[WhereEaglesDare]

it might not be the politically correct respond that pleases everyone...
but the topic is how is the economy effecting "YOU"...
so, he is saying how it is affecting him, and how he wants things...

I still have a job, but no raise this year....
I have no debt, so my life style is not that much affected.
But budget is tighter, as salary stays the same, but spending on all directions goes up...

also, my stock portfolio is whacked hard... cos I hold the bad stocks...
although that has no immediate effect...
but it does hurt mentally, and my retirement savings are impacted....
well, you can say "luckily".... I still have time...
or from another point of view... I still have to work many many years....
dont really see the light at the end of the tunnel yet....
lol...

Is that a Haiku?

[ark_ader]

The key to all of this is to stay liquid.  Most of you guys (Americans, which I am one too) have a real problem with staying within your means.  You guys need the big truck, big house and the big credit card, and the toys until the bottom falls out and you are left with some real scary debt.  I have no debt, excellent credit and own all my toys.  With the spare cash invested in commodities, I can make money by paying those around me less than they are worth.  Because I can do it.  Tradesmen, builders and even coders are all not exempt and have to bid on any work that I need to contract out.  I also pay 90 days.  I can do it,  as do many others.

I do hope it stays this way for a few years, as this will only teach those who live life as a dream.  Stock brokers and bankers alike are going to hurt, nothing will escape this black hole that is approaching.

Depression?  Heck no.  Not yet, but I do hear some high pitched screams in the distance, and it will only get louder when your false bottom dissipates to complete uncertainty.

I believe history likes to repeat itself, as most dumb consumers never learn. The ones ahead of the learning curve will be the ones who will be better off.

So while you have some time, pay off your debts, sell off your assets and get liquid as quick as you can.

 

Oh and while I'm on a roll, invest all your spare cash in gold & silver and buy a gun. 

[mmb]

Except "our" government will never allow the US to fall to that point.  We'll mortgage our great grandchildren into the poor house to keep everyone flush with cash and spending.

THAT's now the American Way! (TM)

The key to all of this is to stay liquid.  Most of you guys (Americans, which I am one too) have a real problem with staying within your means.  You guys need the big truck, big house and the big credit card, and the toys until the bottom falls out and you are left with some real scary debt.  I have no debt, excellent credit and own all my toys.  With the spare cash invested in commodities, I can make money by paying those around me less than they are worth.  Because I can do it.  Tradesmen, builders and even coders are all not exempt and have to bid on any work that I need to contract out.  I also pay 90 days.  I can do it,  as do many others.

I do hope it stays this way for a few years, as this will only teach those who live life as a dream.  Stock brokers and bankers alike are going to hurt, nothing will escape this black hole that is approaching.

Depression?  Heck no.  Not yet, but I do hear some high pitched screams in the distance, and it will only get louder when your false bottom dissipates to complete uncertainty.

I believe history likes to repeat itself, as most dumb consumers never learn. The ones ahead of the learning curve will be the ones who will be better off.

So while you have some time, pay off your debts, sell off your assets and get liquid as quick as you can.

 

Oh and while I'm on a roll, invest all your spare cash in gold & silver and buy a gun.