Call it what you want---recession (your neighbor lost his job), depression (you lost your job), etc...

How has this economic situation affected your life? business? Have you postponed any life plans because of this?

Personally, this whole thing has made me sock away more in anticipation of the economy getting worse. This is actually making the whole situation worse because it takes money out of circulation.

Generally, the situation already sucks. The media magnifies it and makes things worse. It makes me sad to watch the news.

The country was pulled out of the depression because of WW2. It doesn't look like this Iraq/Afghanistan war is having the same effect.

A lot of stock market investors are flat after 5 years. That sucks.

Whole countries in Europe are insolvent. That sucks.

I think I'd be better off not watching TV anymore.

Give me some good news for once please!

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Ben
1987 190d 2.5Turbo

About the only good news I have is that I still have my job. Better yet, I'm lucky enough to be working for a pretty large company that has treated us FABULOUSLY throughout this whole thing.

Throughout our late FY'08 and FY'09 the company did some lay offs and then put EVERYONE on a 10% paycut and bonus curtailment, except for the top execs who went on a 25% pay cut and the bonus curtailment. At the end of FY09 we began pulling out of the worst part. At that time, they reinstated our salaries and a little later gave us all the money that we had lost due to the pay cut in back pay! We didn't regain our lost bonuses, but guess what, bonuses are supposed to be rewards for good business years, so that sounds fair to me.

From where I sit I am very, VERY lucky! I am an embedded resource with my office inside a plant different from my employer. The plant in which I office is experiencing production decreases, so I don't know how long this gig will last. As long as the plant's doors are open, I'll be in good shape. If they close the doors, it'll be time for me to start my retirement. That may very well be a blessing in disguise.

I'm doing my best to get my Flight Instructor Rating before that happens. With my retirement money and if I can make a little income from flight instructing then I will be in good shape, even having more income than I do now AS LONG AS inflation doesn't get into hyperinflation I'll be living comfortably.

I know a number of people out of work who have been out of work for quite awhile. An Army buddy of mine who is exactly to the minute the same age as myself, has been out of work about 3 or 4 months now with no prospects. His age, his location (Knoxville/Sevierville TN area) and his skill set is not working in his favor. He carries no debt and his kids are grown and out of school, so I think he's gonna be okay. He's been doing odd jobs and getting by.

I have the most compassion for the younger folks that have been unable to get their career moving yet. They are in the toughest spot. I think that the ones that show what they're made of by doing odd jobs or whatever they have to do to take responsibility for their lives, will come out of the other end with a better grip on life and the proper attitude that will help them build a better career in the future and also manage their money better. I've been through enough of the tough times that I understand the pro's and con's. The pro's are really hard to identify and you have to maintain a positive attitude and determination to make it through. The most important part is not to take on the attitude that the world owes you something. You are owed what you get off your A$$ and go earn.

The ones I have the LEAST compassion for are those who have had a really successful career, now finding themselves out of work, but have not prepared for it. A guy that I used to work with who had many years of really nice six figure money, has been out of work for about a year. He's dead broke. If he had just put away 10% of his money in the fat years, he would be in good shape now. I have some compassion for him, but at the same time he was stupid for not preparing for a rainy day. What's more he has no skills whatsoever beyond very specific understanding of an industry that is now dead. I guess he thought he would live on a Gravy Train forever. He also has an elitest attitude thinking that doing manual labor or menial tasks is beneath him.

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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

Well. My wages have been frozen now for four years. My wifes income has declined over the last two by about 15K and will likely decline further in future. We made the mistake of getting married and buying a house at the wrong time, so we are upside down by about 100K on our mortage. I listen with wry amusement to the idiots on the news blathering on about wether or not we will go into another recession. We never got out of the last one. I fully expect that either one or both of us could be unemployed in the next couple of years and in that case we'll probaby say screw it and walk away from the house. I've been managing ot pay off debts. So my truck is payed off and I'm slowly paying down credit cards. But I just dont make enough to do all that and save so I have no savings. My plan is that by middle of next year I'll be debt free, assuming I still have a job and then able to save again. However my imediate concern is my vehicle which I think may require either a lot of money spent on it soon, or replacement. I'm not in a good positoin for either so, that could quite probably screw me again. I'm sure things will get a lot worse before they turn around, if they turn around at all within the next decade.

I worry for my step kids, aged 14 and 10. The 14 year old is extremely bright and could easily be a scientist, engineer etc. Unfortunately he is adamant about going to MIT and becoming and architect. Wether or not he get's into MIT if he really does pursue the architecture thing I believe he'll be needing to learn Mandarin if he wants a successful carreer. It's unlikely to happen in the US.

The younger kid is screwed. She has severe dyslexia and learning disabiliites. Her futrure is bleak, even if the country were not screwed.

- Peter.

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2021 Chevrolet Spark
Formerly...
2000 GMC Sonoma
1981 240D 4spd stick. 347000 miles. Deceased Feb 14 2021
2002 Kia Rio. Worst crap on four wheels
1981 240D 4spd stick. 389000 miles.
1984 123 200
1979 116 280S
1972 Cadillac Sedan DeVille
1971 108 280S

For me it has been similar to pj67coll. We are now into the 6th year of salary freeze. I am thankful to be employed. The first 3 years were not so bad, but the cost of living continues to rise. The most disheartening part is not to have any compensation for getting the company a patent and designing 2 engine intakes that are huge revenue. I used to enjoy 8-13% raises.

The slowdown allowed me to reassess my life. Went back to school, started a new career. Back in school again (one class- part time) to gain more certifications.

However, some investments aren't doing so well, house lost some value and property taxes still went up. I dumped the stupid luxury cars and try to live a more simple life. With these lean times I've learned that "things" don't matter...

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'07 Yukon 2500
'13 Subaru Outback 3.6R
'13 Orbea Carpe 9-speed

Currently Benzless
Formerly: 300TD, S600, E55, 560SEL

---= The forest breathes, listen.
-Native American elder

It has put a smile on my face. Lots of cheap, rentable property out there, and the markets in NJ, parts of CA, and AZ may be close to a bottom. I don't have the intestinal fortitude to deal with stocks, but I see this as a hell of a opportunity. I'm in a position to buy up enough property to be able to do what I want to and not have to rely on a 9-5. Can work for myself, not for some b*tch (esp not for a woman, actually) or a**hole.

Go Bears! THANK YOU, Recession!

Sounds like you've been dealt a tough hand. Best of luck with it!

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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

I am astounded at what things cost now. Inflation is like an invisible tax and I think our taxes are going up steadily. The more money the government prints, the higher prices will go. I hope that things don't return to the way they were during the Carter administration.

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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

Congratulations on a great move Swede! It's great to hear of people that are determined and have the gonads to make the best of a bad situation! I'll bet it works out well for you in a few years. Hang tough!

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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

That's smart operating! Way to go in making the best of a bad situation.

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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

Yep, I share the same concern. In a few short years I may very well be living on a fixed income. At that point, inflation is what could really make it tough.

I do believe that whoever is in the Whitehouse beginning in 2012 won't matter when it comes to the inflation bit. The economy is like a big ship and doesn't turn on a dime. Even if things are put in place that can correct it, there will be a long delay before they take hold.

I was a young adult during the Carter years making decent money, but the inflation still kicked our butts.

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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

they held back raises for a few years, and gave very small raises so at least there was something to look forward to. now we are actually doing very well. we are contract manufacturers so as others downsize we are in even more demand, we are now seeing a trend back to the US for manufacturing. I hope that it is going to continue. if you look at the total cost of China including quality cost and shipping as well as time to market instead of simple labor rate it is becoming much less attractive to the bottom line

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1982 300CD Turbo (Otis, "ups & downs") parts for sale
2003 TJ with Hemi (to go anywhere, quickly) sold
2001 Excursion Powerstroke (to go dependably)
1970 Mustang 428SCJ (to go fast)
1962 Corvette LS1 (to go in style)
2001 Schwinn Grape Krate 10spd (if all else fails)

I'm glad it's going well for you. It's a really bad wind that doesn't blow something good to SOME one.

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2001 SLK 320 six speed manual
2014 Porsche Cayenne six speed manual

Annoy a Liberal, Read the Constitution

I used to plan things a year or more in advance, now I try to focus on getting through the day otherwise it's too depressing. I have always lived as if I would never make anymore money, I just didn't think I would be right.

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1984 300TD 1981 240D

Maybee this is just a test. Perpetuation of the species, sort of thing.
Only the most resilient humans with the most internal fortitude will endure.

Only the strong survive.

Welcome to the Jungle.

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CHILCUTT~
The secret to a long life. Is knowing when it is time to leave.