The Economy

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I can say that my take home pay is less, so in my corner of the world it is worse. But we have been so cold that people are slow to get into thinking about boating-

For gosh sakes- it snowed in Bellingham today! And it's a day away from tax deadlines.

Pray for :hot
 
Worse. As a government employee for two or three months more, my pay has steadily declined over the last four years, and starting July we are expecting another drop of around 10%. Government employees may be fortunate to be employed, but it isn't a bed of roses there either.
 
I think in general it is better, but my personal income is down. Farm crops were less than normal, although corn prices were higher. Investment income is down. Low interest rates hurt seniors--but so does inflation--which I see coming.
 
For me personally - better.

My employer had lay offs, a temporary suspension of some benefits, and no raises the year prior. Full benefits and raises resumed this year with no lay offs.

Fingers crossed for us all...
 
So far so good, a bit better than last year but housing in Florida is still in the dumpster.:cry

IMHO: inflation is on the way. A savings account pays next to nothing so I'm holding much of my assets in items which can be denominated in ounces, bushels, and barrels and, of course, real estate.
 
Well for me it is getting better. Construction is on the up, slowly but up never the less. Kathy just squeeked by. Found out they are not going to cut elementry music. So she will still have a job next year. And our home value is back on the rise. Now if congress will stop acting like a bunch of spoiled snot nosed brats and start working together we can really go places
 
Holding steady for now for me. Same job for last 20 years ,my last raise was 5 years ago, lost 35% total income from reduced overtime. My wife, after 13 years just lost her full time and benefits and a 30% pay cut to boot. I can take for now but, if it gets too tight, I'm booting the boat first. I just don't need to struggle to make the payments. I might take an offer sooner if someone is serious. My mistake for buying it when my work was having it's best year ever. I could get rid of the house too, I'm much more suited to be an apartment dweller. Don't get me wrong, I'm not bitter or cranky about it. I understand my place in the world and thats fine but, somedays I can't wait for 2012. Not the election but, the movie. And I do need to apologize for Michigan. Over here they've called it the brain drain. Where our college graduates leave the state for jobs elsewhere. I'm positive that it was displaced Michiganders that brought the country down. But on the brighter side, 16 1/2 years clean and sober, born again, I love my wife, and I still miss Paul Harvey. Good Day.
 
guv'mimt economy reminds me of a desperate politician

my mine: make a dollar, spent a dollar, pay taxes
but overall good and I work 2 jobs
Health is good and I am well fed

Thank goodness for the C brats site for asking
 
Worse. Construction is slower even than this time last year. No spendy items or projects :(

Glad to hear the majority of you are positive. I don't think we will see a meaningful recovery up here till the US recovers.

But we hope for :hot

As that brightens the mood! :wink:
 
I think it’s worse. The outlook looking at the economic horizon does not look promising. Washington only kind of got the message last election. We need to pull the flush lever again on some more of the career politicians on both sides of the isle. They need to balance the budget and get out of debt like the rest of us. The world looking at our financial situation has to be just shaking it’s head. People are converting their money into commodities instead of money in the bank. No wonder look at the interest the banks are paying. People are worried a more serious economic crash is coming.
Sooner or later the gumint will have to stop with the zero interest rates and giving wads of money away to countries and companies who really don't need it. They never let what should have happened happen. They propped up the crooks in my opinion. There is not much incentive to work these days. You don’t have to report down at the unemployment office you just click a few boxes on your computer and you get the money via direct deposit. No telling how much money could be saved if they required people to actually show up and go through an interview process to qualify for the entitlement. I look at my savings and the sad interest rate it pays. Not so long ago it was paying 5%. At 62 I'll be ok but our children and their children is what I'm worried about. Our company is doing about the same as last year. We have to be a little brutal in our buying habits but it puts more money to the bottom line. The weather has been brutal this year as we are somewhat construction related. I do see more new cars on trucks that I have not seen a while. The big car lots at the train yards near the ports are full of cars for export awaiting transfer down to the docks to be loaded on the boats. I don't see the middle class getting much of a break. States with the worst unemployment are still seem to be hurting. With fuel prices starting run wild, inflation rearing it’s ugly head in raw materials, food etc. it kind of looks like a storm might be brewing. I’m not a dooms day guy but for me I think I’ll be real cautious with my limited holdings.
D.D.
 
I work a gov't job. We have a contract thru 2012 so I'm gainfully employed w/ a secure career for now. Our dept has made cuts, layoffs and eliminated positions/specialties. OT (backfill, manpower etc) has been drastically cut though and that does hurt my yearly personal income. The "side job" market has also dried up which also does impact my income, but only marginally. Fuel prices are a killer which impacts nearly everything. We'll see but I'm not optimistic.
 
better! over all production is up over last year, and last year was good. remarkable increase in contractors liability policies as well as commercial auto policies, which maybe indication of improving market. light machine shops are hiring, new restaurants are opening and entrepreneurs seem to be willing to risk money/investments in small business start ups.
this may be a reginal improvement, not sure, but from my window it's working. we will hire an additional employee by october, not by choice but by need, total staff will be 5.
pat

this may all change if the republicans (by the way, i don't like them any better than the democrats) fail to preform and keep the spend happy democrats in check. love our presidents willingness to share my money with those who have none at risk! sorry just had to get my 2 cents in! can't see how we have an intelligent discussion regarding our economy and not voice a political opinion.
 
When the economy heats up, demand for gasoline will go up. Earlier this year a petroleum executive said he expected gas to go over $5 a gallon before the end of 2011. If it goes over $4.50, a lot of economists say it will seriously and adversely affect the economy. With that and the unrest in the Middle East I think things are so shaky I finally decided to put a substantial portion (but not all) of my IRA into an immediate fixed annuity. I asked my insurance agent for one with a cost of living adjustment (COLA) adjusted annually and compounded. He started by saying such a thing doesn't exist. A search on Google produced a bunch of them. I picked one that's been in business for over 100 years with Aa3, Excellent 4th highest of 21 rating levels. I don't think it's a good time to be heavily invested in the stock market, but in the interests of wide distribution of investment, I'm still in it for about 25% of my IRA. But with the annuity with cola I'm less worried.
 
i am a risk taker but only when i am in control of the investment, ie, real estate or business. i have less than 1% of net worth invested in the stock market, i have sold stocks in the past, had a series 7 license to do so. i'm not a big believer in annuities as well. with annuities one must be cautious with loading, surrender changers and possible loss of principal at time of death. annuities compete with cd's, passbook savings and the like, so to get higher than bank yield one must give up something! (risk) knowing what is given up can be difficult. i can sell annuities but choose not to. i'm a huge believer in paying down debt, establishing a cash emergency account and then a balanced portfolio, depending on age. i have said many times, spending borrowed money is easy, spending cash is tuff. whip out $150,000 cash/check for a new boat and see how difficult writing that check becomes, finance $150,000. for 20 years @ 8% and think about oh, it's only $1254. a month, that's not much! let's do it!
interesting subject though.
pat
 
Will-C
Dont know about PA but here in WA they have made it much, much harder to get unenjoyment. They have really tightened up in alot of regards. Some of the changes I agree with, some not. I do belive that they are trying to eliminate the abuses in the system. But there are some honest people getting caught in the cross fire. A few bad apples.........
 
If this is a normal economic cycle the economy should be absolutely booming.The treasury is borrowing and spending trillions and the federal reserve is printing trillions and keeping interest rates on the short end near zero. Interesting times may be ahead.
 
The economy is not bad in Mich. for everyone,our X govenor John Engler recieves a pension of $186,000.00 a year. a 4% automatic increase per year and pays no stae income tax on any of the money. SWEET DEAL :amgry
 
This last week, several countries raised their interest rates. China seems to be selling US debit, as is Japan to free up money for rebuilding. There is more pressure to abandon the dollar as the fiat currency of the world.

If one adds in food, fuel and rent, the realistic "inflation" in the US is closer to 6% rather than 2%. This is of concern to those who are fixed incomes and investments.
 
I think its worse because i am on a fixed income,prices for everything keep on going up but my income remains the same.Today i drove by a local gas station and gas was $ 6.75/gallon. I may have to look for a part time job or take in a boarder just to play for boat gas.Tug
 
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