Honestly, i don't believe the recession was ever that bad. I think it was alot of media hype and generally, Some people would rather Suck the unemployment devision dry. There are jobs, Some are required with a college degree. But there are also alot of classifieds in the Local News Papers. You see, back in 2008. i tried all year to get a job, But called up a place i used to work for and they hired me back on the spot.
I actually filled a position that wasn't taken. You'd think people would try a little harder at filling all of the spots in All jobs if a recession was that bad. However, some of the people that are in this mess are the ones who also contributed to it.
I don't feel sorry for the people who maxed out credit cards and decided to try and live a lifestyle that can't be achieved with a paycheck to paycheck job. I'm debt free my self. I'm paying on a car right now and i'm not getting many hours at my job, mainly because of the manager that works there Favors certain employees over others.
But I'm not paying for my car with the banks money or a financial institution. I just worked a deal out with a local dealership. Honestly, I'm a spender at best, but i will never spend money i don't have.
EDIT: Oh and it didn't stop movie sales and game sales from sky rocketing. and People from buying booze every weekend.
Umm... when you consider unemployment benefits are at 10% and rising and real unemployment is somewhere around 25%, yes the economy is bad.
In fact, the only reason the stock market is climbing is because banks have gone back to heavily leveraged investing as they were before. Most of the growth of Western economies is in finance...
edit - Game sales are down quite a bit from last year...
@Hitchenson said:
" The tens-of-thousands who have been laid off say Hi. "
Uh, really? Because I'm still out of work and about to lose my apartment. For some of us, there are no local jobs, and the "Economony," as you so eloquently put it, is still in shambles.
" Uh, really? Because I'm still out of work and about to lose my apartment. For some of us, there are no local jobs, and the "Economony," as you so eloquently put it, is still in shambles. "
But that didn't stop Modern Warfare 2 from reaching record sales. I Wonder where everyone got the money?
" Honestly, i don't believe the recession was ever that bad. I think it was alot of media hype and generally, Some people would rather Suck the unemployment devision dry. There are jobs, Some are required with a college degree. But there are also alot of classifieds in the Local News Papers. You see, back in 2008. i tried all year to get a job, But called up a place i used to work for and they hired me back on the spot. I actually filled a position that wasn't taken. You'd think people would try a little harder at filling all of the spots in All jobs if a recession was that bad. However, some of the people that are in this mess are the ones who also contributed to it. I don't feel sorry for the people who maxed out credit cards and decided to try and live a lifestyle that can't be achieved with a paycheck to paycheck job. I'm debt free my self. I'm paying on a car right now and i'm not getting many hours at my job, mainly because of the manager that works there Favors certain employees over others. But I'm not paying for my car with the banks money or a financial institution. I just worked a deal out with a local dealership. Honestly, I'm a spender at best, but i will never spend money i don't have. EDIT: Oh and it didn't stop movie sales and game sales from sky rocketing. and People from buying booze every weekend. "
We actually never really got to see how bad it could've gotten and we're not really out of the woods yet. Try living in detroit right now.
" Uh, really? Because I'm still out of work and about to lose my apartment. For some of us, there are no local jobs, and the "Economony," as you so eloquently put it, is still in shambles. "
But that didn't stop Modern Warfare 2 from reaching record sales. I Wonder where everyone got the money? "
Because the majority of people who still have Jobs can afford to buy one video Game?
But that didn't stop Modern Warfare 2 from reaching record sales. I Wonder where everyone got the money?
Everyone's not flat broke yet... I think if anything people are more likely to make a 'safe' game purchase like MW2 in a bad economy. For lots of people that'll be the only game they buy all year.
Overall game sales are down considerably from last year. Look at all the game industry layoffs there have been this year, yet more game companies going under! Look at the games that failed to sell well.
No, the economy is still bad, and actually far worse than you'll hear from the Western news media. Unreported unemployment (because they're no longer receiving benefits), underemployment (people overqualified for their jobs), those things are rarely spoken of. The worse problem being investment banking taking precedence over actual production. Lots of young adults in Western nations coming out of collage and not able to get jobs.
But that didn't stop Modern Warfare 2 from reaching record sales. I Wonder where everyone got the money?
Everyone's not flat broke yet... I think if anything people are more likely to make a 'safe' game purchase like MW2 in a bad economy. For lots of people that'll be the only game they buy all year. Overall game sales are down considerably from last year. Look at all the game industry layoffs there have been this year, yet more game companies going under! Look at the games that failed to sell well. No, the economy is still bad, and actually far worse than you'll hear from the Western news media. Unreported unemployment (because they're no longer receiving benefits), underemployment (people overqualified for their jobs), those things are rarely spoken of. The worse problem being production is a far worse problem. Lots of young adults in Western nations coming out of collage and not able to get jobs. "
Thats true I work part time at a game store and even with MW2 sales in our store are down around 30% compared to last year.
"You can't debunk a global issue with just your personal experiences. Try again. "
"
Not really trying to debunk it Globally, I'm talking about America to be specific. But seeing is how there are jobs in the classified no one wants Tells me something.
"You can't debunk a global issue with just your personal experiences. Try again. "
"
Not really trying to debunk it Globally, I'm talking about America to be specific. But seeing is how there are jobs in the classified no one wants Tells me something. "
You can't Debunk a national issue with just your personal Experiences, either.
@deusdigit: No, the economy is actually pretty bad. Unemployement is really high and I don't see that being fixed anytime soon. Also, why do you capitalize random words? It bothers me. ;)
Actually the economy was worse than everyone said, and it's going to get even worse. There has been absolutely no recovery and unemployment continues to rise. Creating money on a computer and loaning it out to people so that they can spend it gives the temporary illusion of recovery, but it's fake and will backfire.
And I just got a job too, and at that second, approximately 4 people somewhere else lost their job.
" Actually the economy was worse than everyone said, and it's going to get even worse. There has been absolutely no recovery and unemployment continues to rise. Creating money on a computer and loaning it out to people so that they can spend it gives the temporary illusion of recovery, but it's fake and will backfire. And I just got a job too, and at that second, approximately 4 people somewhere else lost their job. "
This.
Unless you've at least taken a basic course in money and banking or an equivalent, please don't say the economy isn't in a bad place.
Like lilburtonboy said, it's more than likely going to get worse. If the Fed (or any central bank for that matter) draws the liquidity out of the system that it injected to ease inflation and the overnight rate too quickly and we're going to go double dip into another recessionary period. There are a plethora of variables that could cause this situation to get worse, and far fewer that will see it improve.
Until people learn to spend within their means, and the entire economy isn't built up on credit and money that is non existent then I wouldn't get too comfortable.
If you really want a reality check, go look at the graphs of the U.S. surplus/deficit since the 1970s and the trade balance as well. You don't need a PHD in economics to see there's a problem.
If you count underemployment it's more line 15-20% unemployment. You're also forgetting to count the new "working poor" people who work 2 part time jobs and still can't make ends meet.
@deusdigit said: However, some of the people that are in this mess are the ones who also contributed to it. I don't feel sorry for the people who maxed out credit cards and decided to try and live a lifestyle that can't be achieved with a paycheck to paycheck job. I'm debt free my self. I'm paying on a car right now and i'm not getting many hours at my job, mainly because of the manager that works there Favors certain employees over others. But I'm not paying for my car with the banks money or a financial institution. I just worked a deal out with a local dealership.
Really? So people who lost their job and paid their rent on their credit card until it was maxed out are the people who caused this mess? How about my friend who lost his job and was unemployed for almost 2 years before settling on a job that pays 60% of what his old job paid. Yeah, the economy is really humming.
" Dude, just because you got a job right away doesn't mean the recession is past tense. Someone get Suicrat in here... "
Please no. I don't need another college dissertation on how any government at all is evil and how everything will be peachy with collective lotteries and how pure capitalism doesn't lead to monopolies while ignoring the lessons of the early 20th century.
@deusdigit: You know you're right. I have never personally seen crime happen or anybody I know has aids, H1N1 or cancer. So that is also not a problem at all. In fact me and my community gets along pretty well, so I would like to declare we have achieved world peace.
" I'm paying on a car right now and i'm not getting many hours at my job, mainly because of the manager that works there Favors certain employees over others. But I'm not paying for my car with the banks money or a financial institution. I just worked a deal out with a local dealership. "
Wait wait, what? You say you don't have a debt, and then you say you're paying a car off? Are you completely munted in the head?
I'm assuming you are sixteen and just got a job and don't care to go read anything on the crazy numbers of people getting laid off, losing their homes, large companies going out of business, etc.
" Uh, really? Because I'm still out of work and about to lose my apartment. For some of us, there are no local jobs, and the "Economony," as you so eloquently put it, is still in shambles. "
But that didn't stop Modern Warfare 2 from reaching record sales. I Wonder where everyone got the money? "
Oh man, you really have to get out of mommy's basement if this is your information that states the economy is not bad, holy crap, I can't even believe you wrote something that idiotic.
Sorry that was a rude reply of mine and not constructive at all.
It's 90% psychological. People (collectively) panic and the market has to recalibrate to cater to the new reality. Trying to smooth out those recalibrations has some merit - because society reacts poorly to sudden change and stress - but trying to prevent those recalibrations indefinitely like we are at the moment is retarded (eg. indefinitely employing people to build cars that nobody wants anymore).
Financial clusterfucks may have triggered the initial panic, but it's how everybody reacts to it that does the real damage. The dumbest fucking thing I ever saw was the BBC having some financial advisor guy on the news telling everybody to start saving their money - great advice for an individual, terrible advice when you're addressing about half of the economy.
Considering how much importance we place on the value of housing, we should probably just change our unit of currency to AverageHouse and be done with it.
" @deusdigit: You know you're right. I have never personally seen crime happen or anybody I know has aids, H1N1 or cancer. So that is also not a problem at all. In fact me and my community gets along pretty well, so I would like to declare we have achieved world peace. "
It's 90% psychological. People (collectively) panic and the market has to recalibrate to cater to the new reality. Trying to smooth out those recalibrations has some merit - because society reacts poorly to sudden change and stress - but trying to prevent those recalibrations indefinitely like we are at the moment is retarded (eg. indefinitely employing people to build cars that nobody wants anymore). Financial clusterfucks may have triggered the initial panic, but it's how everybody reacts to it that does the real damage. The dumbest fucking thing I ever saw was the BBC having some financial advisor guy on the news telling everybody to start saving their money - great advice for an individual, terrible advice when you're addressing about half of the economy. Considering how much importance we place on the value of housing, we should probably just change our unit of currency to AverageHouse and be done with it.
The problem is psychological, but not in the way you state. Banks made horrible investments and basically learned that there was no way to get that money back. They start making out less loans to business. Business can't get the money to pay wages so they get rid of workers. Workers buy less products because they don't have jobs (less money). Companies have even less money so they get rid of even more workers... The cycle continues.
For a while now banks have been giving out more loans, in fact they're back to their old practices, so as far as that sector, we're back at square one. In the mean time less people have jobs, those that do have jobs are earning less compared to the value of currency, and less goods are being bought / made.
It's the stock market that survives on fear or optimism. That in particular does not have a connection with 'reality'. In the 'real world' people and businesses have less money.
This overemphasizes the Keynesian basis of markets and ignores the critical role price signals play in markets. Markets are driven by emotion, but they are also driven by fundamentals.
Furthermore FEAR also drives any and all political response to market operations and phenomenon. It’s impossible to believe that there is a stoic god-bureaucrat that is not concerned about his poll numbers tanking when the market does. What is a self-interested politician to do about his poll numbers? Inflate an asset bubble, of course. Political calculus is also driven by emotion, but the problem is very few people can afford a buffer between them and the very human flaws of a bureaucrat or regulator.
Just because there is an increased # of accidents at a particular intersection in Wilmington North Carolina doesn’t mean that peoples reasoning ability departs them when they happen to approach this particular traffic signal in NC. We have to consider the source of the signals and those are interest rates which entrepreneurs and savers must act on.
No entrepreneur can know what the true interest rate should be because the signal itself is disrupted by the various central banks the entrepreneur’s uses as a reference point to coordinate his time preferences. The accurate information is distorted by effective signal jamming which can never be untangled unless you know the jamming frequency.
Unemployment went up higher than it ever has since the 80's when the stock market crashed, the realestate market went to the shitter, welfare when up, raises went down, promotions stopped due to companies being afraid of going under.
All that and the recession is still going on and it will continue to get worse.
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