Who Says There's No Recession

[lizbud]

My point, very simply, is this. Stories like this happen all the time, and are not proof of a recession.

I disagree. It happens in much greater numbers than it ever has before.

I can't remember another time when prices on EVERYTHING has risen in
record numbers & personal income has stagnated or stopped altogether,
by layoffs or plant shutdowns. All these things plus the mortgage mess,
has led to this. Calling it a economic slowdown if it makes you feel better
but it sounds like full fledged recession to me.

[Medusa]

Calling it a economic slowdown if it makes you feel better but it sounds like full fledged recession to me.

I can't speak for others but I'm not disagreeing that we're in a recession. I am, however, agreeing that situations such as the one on the posted video, have existed regardless of the economic conditions.

[Lady's Human]

I can't remember another time when prices on EVERYTHING has risen in
record numbers & personal income has stagnated or stopped altogether,
by layoffs or plant shutdowns.

Try the late '70s to early 80s? That was made worse by a prime interest rate in the teens, combined with unemployment near 10%, as opposed to a prime rate now around 5% and unemployment around 4%.

Here's a graph of unemployment data:

http://www.csus.edu/indiv/j/jensena/sfp/us/US-UR-50.htm

inflation data:

http://en.wikipedia.org/wiki/Image:U..._Inflation.svg

and Prime interest rate data:

http://research.stlouisfed.org/fred2/data/PRIME.txt
(look at the prime rate for 1978-1982 and figure what your prime+10% charge account would be at those rates)

[Catlady711]

Try the late '70s to early 80s? That was made worse by a prime interest rate in the teens, combined with unemployment near 10%, as opposed to a prime rate now around 5% and unemployment around 4%.

Here's a graph of unemployment data:

http://www.csus.edu/indiv/j/jensena/sfp/us/US-UR-50.htm

inflation data:

http://en.wikipedia.org/wiki/Image:U..._Inflation.svg

and Prime interest rate data:

http://research.stlouisfed.org/fred2/data/PRIME.txt
(look at the prime rate for 1978-1982 and figure what your prime+10% charge account would be at those rates)

I was just thinking of the 70's, the lines at the pump, out of gas signs, and heck even lines twice as long for a single ad saying now hiring. Only good side of it was the money I had in a CD earning a whopping 12% interest!! Sheesh I should be grateful for my one earning 5% because the rest are about 2-3% and going down.

[Giselle]

Well, there's always a light at the end of the tunnel.

It's the business cycle. After a recession, there (should/hopefully) will be economic prosperity. Should be... That's humanity, isn't it? Out of our mistakes and folly come knowledge and solutions. Or at least that's how it SHOULD be

[Karen]

Well, there's always a light at the end of the tunnel.

It's the business cycle. After a recession, there (should/hopefully) will be economic prosperity. Should be... That's humanity, isn't it? Out of our mistakes and folly come knowledge and solutions. Or at least that's how it SHOULD be

Yes, but here's hoping it comes sooner, rather than later. This country has been through a Great Depression before, I'd rather not have it happen again.

[RICHARD]

SB is so expensive to live in the cops and firemen cannot afford homes in the area.

The housing market and the crooked people who work in it are the reason that there are so many problems.

I don't know squat about titles, mortgages and such, but I do know that the people in the business are ruthless and thieves.

One story I heard was of a woman who bilked a title company out of 1.5 mil and is in Europe at the moment. When we closed out title/mortgage offices, employees still with the company would come in a take piles of folders home.
They would finish the transactions and pocket the commissions, all under the pretense of working for the company.

I can't even start to tell the stories of people bilking (STEALING) from the company. I had to clear out a desk of one of the officers at a satellite office.

He had the pads that servers used in a restaurant. The 'guest check' part of the tickets were missing on three different books in the drawer.

I thought about it for a minute and came to the conclusion that he would tear the GC off, fill it out and turn it in with an expense report.

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The reason that people are losing their homes?

THey fell for the loan scam. Down payment and 500 dollar monthly installments....after some time the rates and payments go up- some times double- and people get caught.


One of my brother's friends went from a 600 dollar house payment to over 1300 bucks because he didn't so the homework.
-----------------

Some people want to play the "look at me" game. They climb the ladder and when it becomes unsteady, they forget that they are at the top rung.

Those same people took the extra money, went high hog on cars, furniture and clothes....now they risk losing it all.

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I like the idea that GWB, the oil companies and everyone else it to blame for our stupidity.

Back in the '70s we had a chance to really tune our transportation situation in- better cars, more gas mileage and better emissions.

What did we do? Invent the Armada, Hummer and Yukon.

We have done it to ourselves, get over it and let's work on the problems we have now, instead of blaming one idiot that can't get a law passed to get oil out of the ground in Alaska.


We won't let him.

[Giselle]

Back in the '70s we had a chance to really tune our transportation situation in- better cars, more gas mileage and better emissions.

What did we do? Invent the Armada, Hummer and Yukon.

Ah, such is the plight of humanity.

We never learn. We have zero foresight. Even when we are granted hindsight, we still don't learn from our mistakes.

Not to mention that "green" has been misshapen into a consumer gimmick. Eco-friendly ethanol? Psch. Green my butt. That eco-friendly ethanol increasingly comes from burnt Amazonian rainforests and crops that would originally have been used for food. Thus, gas stays inflated. Food is in shortage. The rainforest continues to die (thus, increasing the amount of CO2 in the atmosphere). And what is solved? Nothing.

It's time for a change. We need new leaders and legislation. JMO. Hopefully, this recession will the catalyst of a renaissance of sorts...

[moosmom]

Lizbud,

I saw it on the news today and realized that I WAS that close to living in my car with my cats. People say "it'll never happen to me". Never say never.

What I don't understand is that the woman's "friends" allow her to shower at their homes. Why not take the poor woman and her dogs in???? If one of MY friends was threatened with homelessness, you can bet your sweet patootie they'd have a place with me for as long as it takes.

[Medusa]

What I don't understand is that the woman's "friends" allow her to shower at their homes. Why not take the poor woman and her dogs in???? If one of MY friends was threatened with homelessness, you can bet your sweet patootie they'd have a place with me for as long as it takes.

I had the same thought, Donna, but currently I've been watching a situation unfold w/a friend of mine. Her friend and husband recently moved from OH to NY and, almost as soon as they arrived in NY, he was w/out a job. Her friend called crying, asking if they could stay w/her for a couple of months until they got back on their feet. My friend said 'yes', that was in late Dec. and they're still there. The woman is working, the husband isn't and they've paid her only $400 in 5 months. So now my friend realizes that, if she charges them rent, they won't be able to save money to move out but she can't continue to support them. She's painted herself into a corner. Another friend of mine was laid off at work, lost her apartment and, fortunately, had a friend that said she could move in w/her until she found another job. She thought that she'd be there for only a couple of months. She was there for a year and a half. I know I must sound unsympathetic and cold hearted and I don't mean to because, if I found myself in such a situation, I surely would hope that one of my friends would help me out but, w/7 cats, it isn't too likely. We just never know what the extenuating cirumstances are w/someone and there could be a very good reason why her friends haven't taken her in. I do know, however, that I would struggle w/watching a friend of mine sleep in her car w/her dogs every night, that's for sure. It's just so sad.