The economy, is it good or bad. (Page 3/181)
84fiero123 JUL 27, 08:26 PM
So this is nothing then.

Dow, S&P Have Worst Week in 5 Years


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Jul 27, 7:22 PM (ET)

By TIM PARADIS

(AP) Tracer Mario Florio watches trading after the market opened in the S&P 500 futures trading pit at...
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NEW YORK (AP) - Wall Street extended its steep decline Friday, propelling the Dow Jones industrials down more than 500 points over two days after investors gave in to mounting concerns that borrowing costs would climb for both companies and homeowners. It was the worst week for the Dow and the Standard & Poor's 500 index in five years.
Investors cast aside a stronger-than-expected read on the economy and maintained negative sentiment that dominated Thursday when the market shuddered amid worries over the U.S. mortgage and corporate lending markets. Investors globally took flight from equities, shifting cash into safer investments in Treasury bonds.
The pullback Thursday and Friday wiped out $526.1 billion in shareholder wealth from the stocks in the Standard & Poor's 500 index.
http://apnews.excite.com/ar...70727/D8QL7TB01.html

Don’t worry be happy.

I find it somewhat funny how all those, or at least most of the posters who said we are doing great are business owners.

Those that thought about how companies are sending jobs overseas thought differently.

This is one of the things I have a problem with you see, if a company only cares about the bottom line then they will send their work over seas. Leaving more and more Americans in a bad position. I have called it corporate mismanagement, but after thinking about it I see it is more corporate immorality.

And the only ones who really benefit from this are the higher ups, top of the food chain types.

More and more of them are getting taken down and put in jail, I love seeing that. But we need to look at the big picture. There are only so many jobs, most of those hurt by these downturns in the stock market are small investors who can’t afford these large losses.

People who can afford to loose are those with more money and less morals, who could care less about their workers.

I have said it before, I think we are loosing.

As ditch said


quote
Originally posted by ditch:

I understand, but that doesn't mean I have to respect a place that would build itself using the blood and sweat of an american worker just to sell them down the river so the board of directors can each buy a 5th beachhouse in the bahamas. They have every right to do that but look what is left behind when they leave.

As an american, I believe I have a moral obligation to do the right thing in these circumstances....or, I could be a heartless and selfish POS.




And this is obviously a man with an education. Like I said before in other threads an education isn’t going to help if companies send all the jobs overseas. Why should they pay what we are used to here when they can get it done someplace else for 1/10th the cost.

It is happening here and has been for many years yet few will admit it.

------------------
Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

Nurb432 JUL 27, 08:37 PM

quote
Originally posted by Rainman:

Genuine asessment is that the economy is very strong. The strongest in quite some time. What makes folks uneasy is the instability they feel. We are in a phase where the eceonomy is very strong, but people don't feel secure financially (fear of job loss, etc), so they think the economy is tanking.



I think it depends on what part of the country you are in, and what your primary markets are.

Around these parts, job losses are mounting due to out-sourcing and plant closings are pretty common. A lot of us old-timers have taken big paycuts just to stay employeed, due to the increased competition with more people being out of work.

But im sure in other parts of the country, things are going well.
Formula88 JUL 27, 09:04 PM

quote
Originally posted by 84Bill:

Oh no.. the economy is fine... Just buy that new car, sofa and house and be sure to get long term loans... everything is fune... just fine..



There has never been an economy where it's wise to buy more depreciating assets on credit than you can afford to pay off. Even housing isn't guaranteed to appreciate in the short term right now.

There's a difference between the economy's health and your budget's health.
Raydar JUL 27, 10:43 PM

quote
Originally posted by 84fiero123:

...Don’t worry be happy.

I find it somewhat funny how all those, or at least most of the posters who said we are doing great are business owners.

Those that thought about how companies are sending jobs overseas thought differently.

This is one of the things I have a problem with you see, if a company only cares about the bottom line then they will send their work over seas. Leaving more and more Americans in a bad position. I have called it corporate mismanagement, but after thinking about it I see it is more corporate immorality...



I must be the exception.

I'm a typical wage slave for an electric utility. I have a two-year tech school certificate. (For what it's worth, I'm not union, but many of the employees in our company are. I feel like the non-union folks who do the same job actually have a better deal in a lot of cases.)
But I digress.

I'm making more money than I've ever made in my life. More useable money. We're about to pay off a 30 year mortgage after ten years and one or two months.
The same goes for most of the people in my group. And they're looking for people.
My supervisor (whom I have known for years, and trust) told me that outsourcing is an idea whose time has largely come and gone. I don't know about other departments, but outsourced folks just can't do our jobs.
There's a lot to be said for knowing what you're doing, and having been doing it for years.

Of course, the technology may come along that makes my job obsolete. That's been happening since... forever.
I have already seen some signs of that. But the reality of it is, they can automate systems to hell and back, but they still need a "thinking" individual to make the final decision on what action is appropriate for a given set of circumstances.
By the time I'm automated to the point of boredom (I really don't think I'll be automated out of a job) I'll be ready to retire.

Anyway... I didn't say all of that to brag. By most standards, I make a modest income.
But as far as I'm concerned, the economy is doing okay. I certainly can't complain. At least from my perspective.

Possibly because I still remember Jimmy Carter's presidency. Home mortgages were like... 12%?!

[This message has been edited by Raydar (edited 07-27-2007).]

Red88FF JUL 27, 11:00 PM
Might seem kinda funny but 208 point move is nothing when it come down to the grand scheme of things. Not too long ago it was thousands lower than it is today. hell I can remember when it was 10,000 points lower many moons ago. It goes up and down but so far always back up and set new records.

If this kind of thing stresses you out do not buy stocks. I have quite a bit in the market and I am not worried. I rarely pay attention much more than a few times a year. Sheesh after 911 there was a real fall. I know people that had leveraged to buy stocks (something I will not do) and panic sold thinking it would go down more and they would lose everything, well they lost big buy selling and are still paying for the loans. We kept ours and our stocks are worth much more today than they were before the fall. Well except that dam Lucent :-(

Funny how it gets sensationalized, almost like somebody wants to spread the fear. The value of our stocks and even our money is basically based on confidence so fear and panic will of course lower the value

Some will sell and hope the stocks fall and buy again, fine if they don't rebound on you. I am not a player but an investor and think mostly long term so small changes aren't worth sweating about.

Red88FF JUL 27, 11:07 PM

quote
Originally posted by Raydar:


I
Possibly because I still remember Jimmy Carter's presidency. Home mortgages were like... 12%?!




Actually they were over 20% and inflation was 12 or 13% maybe higher, but whos counting, hehehehe
Rainman JUL 27, 11:11 PM
I've been searching for the article I read just yesterday, but can't find it. I was doing some research regarding retirement planning and the article was stating how the economy is the strongest in some folks lifetimes, the major markets have been the highest they've ever been, etc. It stated in polls that majority of Americans felt the economy was sluggish, but as more questions were asked in the poll, the underlying reason was a general uneasiness about financial security (pensions are a thing of the past, social security drying up, housing slowing, etc).
Toddster JUL 28, 11:44 AM

quote
Originally posted by Raydar:

I just wonder what the next "fad investment" is going to be.

I wonder how long it's going to take for this market to return to "normalcy".
I'm sure you can add some insight, Todd.

Anyone want to speculate?



As for the Fad Investment if I could predict it I would start it! But if I have to speculate I am going to say it will be in the entertainment industry or communications. In the LONG term (20 years) I predict Transportation will be the next boom industry when Scramjet technology becomes a pratical reality.

As for a return to "normalcy" we are actually IN a normal market right now. People, young people in particular, have never seen a normal market. They grew-up in the boom times when everything you invested in turned into profit. They may have heard of the Great Depression or Stagflation in history class but they have no idea what a REAL market correction is.

We have the higest wages in the world, we have 6% mortgage rates, we have relatively cheap plentiful housing, we have the cheapest food in the world, we have near full employment, and we have the higest standard of living to be found anywhere.....why is everyone bitching again?
Formula88 JUL 28, 11:59 AM

quote
Originally posted by Raydar:


I must be the exception.

I'm a typical wage slave for an electric utility. I have a two-year tech school certificate. (For what it's worth, I'm not union, but many of the employees in our company are. I feel like the non-union folks who do the same job actually have a better deal in a lot of cases.)
But I digress.

I'm making more money than I've ever made in my life. More useable money. We're about to pay off a 30 year mortgage after ten years and one or two months.
The same goes for most of the people in my group. And they're looking for people.
My supervisor (whom I have known for years, and trust) told me that outsourcing is an idea whose time has largely come and gone. I don't know about other departments, but outsourced folks just can't do our jobs.
There's a lot to be said for knowing what you're doing, and having been doing it for years.

Of course, the technology may come along that makes my job obsolete. That's been happening since... forever.
I have already seen some signs of that. But the reality of it is, they can automate systems to hell and back, but they still need a "thinking" individual to make the final decision on what action is appropriate for a given set of circumstances.
By the time I'm automated to the point of boredom (I really don't think I'll be automated out of a job) I'll be ready to retire.

Anyway... I didn't say all of that to brag. By most standards, I make a modest income.
But as far as I'm concerned, the economy is doing okay. I certainly can't complain. At least from my perspective.

Possibly because I still remember Jimmy Carter's presidency. Home mortgages were like... 12%?!




So where do I send my application?
I'm serious.
fierobear JUL 28, 12:30 PM

quote
Originally posted by ditch:
I never said or implied that, so I don't need to think about that. I don't expect them to make me rich. I just expect them to treat their workers with respect....not a big request there.



Of course, we'd all like to be able to expect our employers to respect us. I'm just trying to get across the idea that you may or may not be respected, but as long as they pay you for what you do, they are fulfilling their obligation. I don't mean to discount your feelings about how you would like to be treated. I'm just talking about realistic expectations.


quote
Originally posted by fierobear:
none, I have character and would never turn on those who helped me build something....no matter how much $$$ I was offered. There is way more to life than cash. I don't need $1500 shower curtains to feel good about myself



Well, there is $1500 shower curtains and there is financial security. Again, would you turn down a million dollars?


quote

I understand, but that doesn't mean I have to respect a place that would build itself using the blood and sweat of an american worker just to sell them down the river so the board of directors can each buy a 5th beachhouse in the bahamas. They have every right to do that but look what is left behind when they leave.



No, you don't have to respect them other than doing your job as you are directed to do.

OK, let me approach this a different way. Where would you say you are in that company on the pay scale? In other words, are you the lowest paid? Middle? Or ??


quote
As an american, I believe I have a moral obligation to do the right thing in these circumstances....or, I could be a heartless and selfish POS.



You sound like a person of good character. Have you ever thought about starting your own business, and running it your way?

[This message has been edited by fierobear (edited 07-28-2007).]