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Wayne&Sam · 10-23-2008, 10:10 AM

Quote:

Originally Posted by purman

People still have as much money as they did, the media is just scaring everyone into not spending it...

People who are on salaries and still have their jobs maybe still do. But if they have any retirement investments, they sure don't.

Crusty · 10-23-2008, 10:19 AM

Hey Jim, I'm worling on my 2nd $million (since I finally gave up on the first).

warbler5 · 10-23-2008, 11:18 AM

In our area (greater Sacramento area, CA), several car dealerships have closed, one RV dealer (Dan Gamel RV), and now a business that sells boats is claiming that their sales are down 70% (the majority of their clientele are folks in the construction fields). Plus, those of us whose retirement $$$ are tied up in this mess are holding on tight to their ca$h! We will likely be in this downward spiral for sometime to come....

purman · 10-23-2008, 11:30 AM

Problem is where we live the economy is still strong... OIL GAS FIELDS>>> There's a boat dealer in Grand Junction who is still selling more than he did two years ago... Houses aren't being built like they were but the house values have hardly dropped...
Western slope of Colorado isn't being hit that hard.. (YET)

Jim Foster · 10-23-2008, 01:00 PM

It will be interesting to see what the stock market does on November 5th. We'll have to watch and see how investors answer the election results, whether they will show confidence and buy, or show some degree of fear, and sell.

It should be interesting.

LHall · 10-23-2008, 01:12 PM

I guess it is all relative, I have worked for the same company for 19 years. We were informed over a month ago that all 8000 employees will have to take a 10-day furlough before the end of the year. I have never experienced anything like this before and it is scary since our business has typically been fairly recession proof. It could be much worse but a reduction in salary for a 3 month period is painful.

Gene · 10-23-2008, 03:35 PM

Quote:

Originally Posted by Jim Foster

It will be interesting to see what the stock market does on November 5th. We'll have to watch and see how investors answer the election results, whether they will show confidence and buy, or show some degree of fear, and sell.

It should be interesting.

Polls show Wall St. people favor one party 2-1. It's not the party that one usually associates with business.

Gene

Crusty · 10-23-2008, 04:04 PM

It doesn't really matter who wins - we're already down in the bottom of the well with no way to get up and out. We're borrowed out so the only way to get any more money is to run the printing presses, and they're cranked up right now. And the dollar must plummet in value.

Watch this video discussion about hyperinflation in the US by some mainstream financial guys if you want to lose some sleep.

YouTube - 10/13/2008 - Peter Schiff On Glenn Beck: Inflation Nation?

Jim Foster · 10-23-2008, 05:52 PM

Don't jump off that high building just yet over the plummeting dollar.
We were in England the end of February, 1999. At that time, the pound was $1.60 US. Exactly what it is today. In July of 2008, just three months ago, the pound was $2.02 US. The dollar is also gaining against the EURO.

Why would anyone choose to visit England in February? That's another story.......and we've done that twice!

warbler5 · 10-23-2008, 06:42 PM

Quote:

Originally Posted by purman

Problem is where we live the economy is still strong...

We went to visit our son in Redmond WA, and it seemed like a different world there! Lots of new construction in the downtown areas was going on. I guess it all depends on what your area depends on for income. My area, being the State Capitol, contains a high percentage of County, State, and Federal employess....with California deeply in debt, there are many layoffs, unplanned retirements, and re-locations going on.

purman · 10-23-2008, 06:42 PM

Quote:

Originally Posted by Jim Foster

Don't jump off that high building just yet over the plummeting dollar.
We were in England the end of February, 1999. At that time, the pound was $1.60 US. Exactly what it is today. In July of 2008, just three months ago, the pound was $2.02 US. The dollar is also gaining against the EURO.

Why would anyone choose to visit England in February? That's another story.......and we've done that twice!

Thats like going to Washington (seattle) in November.. I'm doing that... England rains year round.... You didn't miss much buy going in Feb...

warbler5 · 10-23-2008, 06:44 PM

Quote:

Originally Posted by Jim Foster

Don't jump off that high building just yet over the plummeting dollar.
We were in England the end of February, 1999. At that time, the pound was $1.60 US. Exactly what it is today. In July of 2008, just three months ago, the pound was $2.02 US. The dollar is also gaining against the EURO.

THAT is good news to us.....we have been waiting for several years to make a trip to Europe....the plummeting Euro may make that happen!

Jim Foster · 10-23-2008, 07:23 PM

Quote:

Originally Posted by purman

Thats like going to Washington (seattle) in November.. I'm doing that... England rains year round.... You didn't miss much buy going in Feb...

We have been there other times of the year as well.
We are friends with the Merseysippy Jazz Band. The band formed in February, 1949 in Liverpool and has been playing weekly ever since. We went over for their 40th and 50th birthday party in '89 and '99. Love dixieland jazz partys that go 24 hours a day for four days. With the dollar going up against the pound, we may go next February for their 60th. Only one original member left, but one who joined in the early 50s are still with the band. The newest member has only been with them 24 years.

If the dollar continues to gain on the EURO, we may visit the contenant as well.

That could adversly affect our Airstreaming in February.

Diesel1 · 10-23-2008, 07:57 PM

I remember when Nixon quit, then the oil embargo. I was a teen working in a Shell gas station in Phoenix. No gas, lines 2 miles long. So much panic buying that for awhile you could only buy gas based on your license number-odd or even, for odd or even days. Carter/ Ford was the first election I could vote in. And did! We were supposed to WIN (whip inflation now) everybody acted like it was the end of the earth. I grew up in the projects of Phoenix, lived through the riots in the late 60s when the National guard was roaming around on our roof tops and a 6PM curfew. By the time the recession rolled around I was out of the projects. I was living pretty high myself! Guess its just a mater of perspective. I have had a pretty rough last 2 years unrelated to the economy. I & my girlfriend (from Liverpool, seems to be a lot of Brit influance here)Bought a Airstream just over a year ago and are having a gas! This to shall pass.

ROBERTSUNRUS · 10-23-2008, 09:38 PM

Hi, don't be too happy about the fact that oil/gas is going down in price; The oil industry states that it is controlled by supply and demand. Well did you consider the fact that all these companies closing down and/or reducing their work force, makes for unemployed workers that can no longer purchase gas? [Therefore reducing the demand] Some of us will be OK, but maybe a friend, neighbor, relative, co-worker or Airstreamer won't be as lucky as you when they receive their pink slip. I used to think it was bad when 5% were unemployed, but now it's closer to 8%. Don't get me wrong, It's better for me to have to spend less money to survive, but I don't want to see another co-worker go under and lose everything. I personally have tightened my belt in both ways of the meaning.