A Recession Or A Depression-You Be The Judge

[Marc Martyn]

Hijacked......

[Marc Martyn]

Don't expect prices at the pump to decline anytime soon.

http://www.marketwatch.com/video/asset/ ... 0FA366AB2A

It is interesting that when a revolt begins the prices skyrocket overnight. However, when there is a regime change they say, "Well, we really don't know what is going to happen" so the prices stay high. Any excuse is good to keep the prices high.

[knotabassturd]

Oooops, my bad:-"

As for prices at the pump that game has been that way for as long as I can remember unfortunately. Just more noticeable with gas prices where they are.

In the Great Depression I think prices went down on most everything. We don't have that problem in many areas at least with every day items. I also think banks basically froze up immediately in some cases. So in some cases one day you had a deposit in the bank and the next the bank closed and you were SOL (I think?). Thank goodness we don't have that happening yet.

['OL GREY DOG]

i think you'd puke .. or cry .. if you knew how many banks (mostly small 1s) have gone outta biz this year

[MarkFromSea]

Oooops, my bad:-"

As for prices at the pump that game has been that way for as long as I can remember unfortunately. Just more noticeable with gas prices where they are.

In the Great Depression I think prices went down on most everything. We don't have that problem in many areas at least with every day items. I also think banks basically froze up immediately in some cases. So in some cases one day you had a deposit in the bank and the next the bank closed and you were SOL (I think?). Thank goodness we don't have that happening yet.

"In the Great Depression I think prices went down on most everything" Agreed! That's what's odd about this go round. Prices have increased substantially on what we eat and put in our tanks.

Ole GD, it's no secret that a bunch of banks have closed during this last 3 years, the thing that's different is that they are being sold or essentially given to bigger banks. Accounts, deposits, are secure up to that FDIC limit. The losers have been the stock holders. Around here, Washington Mutual was the one that hit a lot of our friends and neighbors. I'm not puking or crying, I'm pretty disgusted at how this was allowed to occur though. Both political parties and the regulators that were in place to prevent this sort of thing failed to do their job and now we suffer or we know someone who is struggling to one extent or another because of it.

Deposits are insured up to $250,000.

[Marc Martyn]

Here is one bank that went down because of the hard economic times. Bad commercial loans.

http://www.spokesman.com/stories/2011/a ... f-whitman/

[Marc Martyn]

i think you'd puke .. or cry .. if you knew how many banks (mostly small 1s) have gone outta biz this year

Quite a few..

http://www.calculatorplus.com/savings/a ... banks.html

[Marc Martyn]

With corporation sitting on record profits, all you hear on the news today is "Where are the jobs!"

Just today in thestatecolumn.com:
GOP candidates Mitt Romney and Rep. Michele Bachmann (R-Minn.) also slammed the unemployment rate as evidence of Obama’s failure to jump start the economy. “Today’s disappointing unemployment report is further proof that President Obama has failed,” Romney said. “President Obama oversaw an economy that created zero jobs last month and that is unacceptable,” Romney argued.

Bachmann was also candid about her reaction to the August unemployment rate. “Today’s jobs report showing that the economy created no jobs in the last month and unemployment at 9.1 percent is further evidence that President Obama’s failed economic policies are not working and have completely stalled job growth,” Bachmann professed.

Perhaps they are not looking at the entire picture. All a person has to do is take inventory of the items in their homes, look at where it was manufactured. Or, you can call your bank and inquire about your credit card balance and speak with someone in New Delhi.

This has been increasing dramatically over the last decade.

Just for an example, here is the data for the Spokane area. Stunning....

http://inlandnw.wordpress.com/2010/07/2 ... employers/

[racfish]

Thanks to the lottery all my dreams seem so close. I hadnt hit anything the first twenty years so I figure Im close to hitting it. Recession/Depression is all the same when ya broke like Im getting. Ive had to hit up my IRA twice now.Im giving up my retirement to live now.

[Marc Martyn]

I think a lot of people are doing just that. I am forced to draw on my Teamster's retirement, about 5 years before I had planned. It won't be a great amount of money, but it will help.

I'm in the age group that is getting hit hard. Too young to draw social security and am finding out that I am too old to be hired. Seems the businesses don't want to hire someone who is 60 years old with 40 years of work experience.

[Marc Martyn]

At 58 yo Im with ya Marc. I have been hit hard. Im in a family owned business and the big boys and Asia are kicking my butt. I dont forsee staying in our business very long. The days of custom window treatments are for a very limited clientele. One surgery for me or anything like that will put me under. I hope and pray to the good Lord for better times ahead.

[Marc Martyn]

As a remodeling contractor, I understand where your business is. Mine has dropped off the edge. People are not putting money into homes that they are losing money on. Remodeling or updating, including new window coverings, has been put on the back burner for most homeowners. Until the housing market improves, things are going to be very slow for us. It has been said that the housing market may be depressed for another 5-10 years. By that time, I'll be too old to do the kind of physical work that is involved in remodeling.