Bad economy?
02-26-2009, 11:01 AM
#92
Registered User
Originally Posted by boltonblue,Feb 26 2009, 03:19 PM
there is a graph which maps current unemployment vs prior recessions since WWII
it is the rate of decline which has been the biggest concern.
Couple that with the lockup in financial markets and the declines that people see in their 401K may be why many people have a poor outlook moving forward.
it is the rate of decline which has been the biggest concern.
Couple that with the lockup in financial markets and the declines that people see in their 401K may be why many people have a poor outlook moving forward.
If anything, that graph is somewhat (misleadingly?) painting a rosy picture because it suggests unemployment is close to reaching the bottom and about to rebound. Perhaps if the stimulus pkg works (I am highly skeptic) it could happen.
02-26-2009, 11:06 AM
#93
Originally Posted by Bass,Feb 26 2009, 02:44 PM
nope and it's too late now -
Investments made since late last year have been bond funds, CD's and the like, but I'm not going to sell off the $ in equities and take a loss. We had a percentage in conservative "stuff", wishing it had been more.
The market WILL come back, it WILL take some time. Once it does come back, given our "advanced ages" the money will be moved to ultra conservative places. I don't want to experience another downturn such as this one, just prior to, or shortly after retirement.
I'll accept our $ making less $. It's better than losing it.
I'm sure a lot of retirees are questioning their decision to leave their money in the stock market, and many did.
02-26-2009, 11:36 AM
#94
Community Organizer
Originally Posted by Legal Bill,Feb 25 2009, 09:21 AM
I can't account for what Cubby sees, but think about it. If you lose your job, where do you go to get money? The bank! If you can't make your loan payment, who is it that knows first? The bank. I'd expect Cubby to see and talk to the unemployed depositors and customers on a regular basis. What about the customers that are ok? Do they come running in and say "hey Cubby, I'm doing great today!" I bet not.
Just today, I had another client tell me they though they were gonna be laid off.
I think the client base that I see and talk to is a great crossection of what is out there....and the maliase is palatable.
02-26-2009, 11:55 AM
#95
Thread Starter
Originally Posted by Cubs2k,Feb 26 2009, 03:36 PM
Well...as it happens, I do have a few customers tell me they are doing fine....I have one client who has more trucking work than he can deal with, and a few others who are just fine. Overall there is a shift. Where a year ago 7 or 8 out of 10 were doing well, now it is 1 or 2 of 10 that say the same thing.
Just today, I had another client tell me they though they were gonna be laid off.
I think the client base that I see and talk to is a great crossection of what is out there....and the maliase is palatable.
Just today, I had another client tell me they though they were gonna be laid off.
I think the client base that I see and talk to is a great crossection of what is out there....and the maliase is palatable.
02-26-2009, 12:04 PM
#96
Registered User
I agree. Wouldn't customers go to banks either way? Either they take out loans to start/expand business, buy home, car, etc.
Or
take out loads to keep their business/home afloat.
Or
take out loads to keep their business/home afloat.
02-26-2009, 12:44 PM
#97
Thread Starter
Originally Posted by boltonblue,Feb 26 2009, 02:19 PM
there is a graph which maps current unemployment vs prior recessions since WWII
it is the rate of decline which has been the biggest concern.
Couple that with the lockup in financial markets and the declines that people see in their 401K may be why many people have a poor outlook moving forward.
it is the rate of decline which has been the biggest concern.
Couple that with the lockup in financial markets and the declines that people see in their 401K may be why many people have a poor outlook moving forward.
To get an accurate picture, you want to start with the total number of jobs at the peak, not some BS chart that sets the peak number of jobs prior to every recession at zero. Then you look at the number of job loses as a percentage of total jobs to find out how bad the country is doing.
An example willillustrate. Let's say that 10 years ago you have a million people in your country and 10% unemployment. That means you have 100,000 people out of work. If your population doubles in 10 years to two million and you have 150,000 people out of work, you can run around and yell "MOST PEOPLE OUT OF WORK EVER!!!! But your rate of unemployment has actually fallen to 7.5%. And there are 950,000 more people woring now than there were 10 years ago.
02-26-2009, 01:07 PM
#100
Registered User
well i'd rather not be an ostridge
and keep pretending there are not any problems -
heck even you said you lost 20 guys
jezz jeff - id this was about asshat terrorists you
and keep pretending there are not any problems -
heck even you said you lost 20 guys
jezz jeff - id this was about asshat terrorists you