TweetDJ, I have to disagree with the Grreat Depression theory.
The economy overall is doing pretty well. IE: Inflation is at a low, unemployment is down to the 4.4% range. More jobs are available, interest rates are edging down, GNP was at 3% last quarter. Tax rates are down, thus more money is available for workers, thus more taxes being paid, so tax collections areup. The deficiet is ahead of schedule on pay down.
The article refers to personal debt and credit card abuse.
Everyone nows wants what they want, when they want it, and are willing to go deeper in debt to have it to keep up with the Jones'. Credit has bbecome to easy to get and is to alluring not to use. Instant gratification is what everyone wants.
There is another angle to look at about this article. Maybe, Just Maybe, and this is a long shot, some people decided to pay off debt on credit cards they amassed form Christmas or other year ending reasons. That would shw a dip or a withdrawl form savings to clear debt.
Keep an eye out and see if in a few months a report comes out about personal savings is on an increase.
JMHO

Tweetlets hope your wrong bro...lets just hope, but in what your right in is that most families live on paper alone, meaning one bad month could put you out on the street...

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Originally Posted by Waterboy

DJ, I have to disagree with the Grreat Depression theory.
The economy overall is doing pretty well. IE: Inflation is at a low, unemployment is down to the 4.4% range. More jobs are available, interest rates are edging down, GNP was at 3% last quarter. Tax rates are down, thus more money is available for workers, thus more taxes being paid, so tax collections areup. The deficiet is ahead of schedule on pay down.
The article refers to personal debt and credit card abuse.
Everyone nows wants what they want, when they want it, and are willing to go deeper in debt to have it to keep up with the Jones'. Credit has bbecome to easy to get and is to alluring not to use. Instant gratification is what everyone wants.
There is another angle to look at about this article. Maybe, Just Maybe, and this is a long shot, some people decided to pay off debt on credit cards they amassed form Christmas or other year ending reasons. That would shw a dip or a withdrawl form savings to clear debt.
Keep an eye out and see if in a few months a report comes out about personal savings is on an increase.
JMHO

Agreed. If the economy was in any way near that of the great depression, we wouldn't have the stock market hitting it's highest amount in history, as it did just a couple months ago. However, I for one will never buy into something like that. Even during the actual depression, people got rich. This county has way too much going on to every go through another great depression. Besides, before something like that ever happens this government would open up our oil store and start seeling them to our allies to creat jobs. We have enough oil tapped off throughout this country to create so many jobs you wouldn't believe, but my guess is they are waiting for the Middle East to dry up, which experts say is going to be about 30 to 50 years. Then gues who will be the absolute richest country in the world? Trust me, this county is fine and will be fine. The one thing that makes the most trouble for people is credit card debt, and I can promise you, if it gets to where CC debit puts this country in a bad place, the government will step in. Credit cards are the worst. Irresponsible people keep getting more and more and more. I did a loan for a guy once who lived in a $220k house and had $100k in CC debt. He owed almost half the amount of what his house was worth to CC companies. That's where the problem is. There is no check for income, you just fill out a piece of paper and if you pay your bill, you can keep getting more of them. The really needs to be limits on CC's.

Tweeti think if you look at the state of mich. you'll get an ideal of what bad is!!! the rest of the country is actually doing ok

TweetI'll tell you this 95% of the people I know are living paycheck to paycheck. That's not the sign of a booming economy. Noone I know except a few people have any retirement whatsoever set up, which isn't their fault either because if your living paycheck to paycheck how are you supposed to save for retirement? Everyone I know does not live outside there means and already live as basic as they can.

The problem is jobs don't pay well. The average person in this country makes about $10hr. I wouldn't exactly call that a strong economy. With the cost of everything going up...Food, Gas, Electricity, Healthcare, Insurance, Property Taxes; it's almost impossible for people to make it by. A huge problem is wages have stayed the same over the last ten years, and some have actually gone down. How are people supposed to live without struggling if watches don't go up, but the cost of everything does?

So again you guys aren't looking at it in a realistic light. Sure some people can make there own fortune, and yes it is possible. But that is only a path few can take. Most people don't have the know how, or the business sense to take that path. That's why there are leaders and followers. Leaders can take that path, followers need a hourly job with no risk involved.

So again I stand by my original statement.

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Originally Posted by DJDIGGLER

How are people supposed to live without struggling if watches don't go up, but the cost of everything does?

.

I meant wages don't go up.

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Originally Posted by DJDIGGLER

I'll tell you this 95% of the people I know are living paycheck to paycheck. That's not the sign of a booming economy. Noone I know except a few people have any retirement whatsoever set up, which isn't their fault either because if your living paycheck to paycheck how are you supposed to save for retirement? Everyone I know does not live outside there means and already live as basic as they can.

The problem is jobs don't pay well. The average person in this country makes about $10hr. I wouldn't exactly call that a strong economy. With the cost of everything going up...Food, Gas, Electricity, Healthcare, Insurance, Property Taxes; it's almost impossible for people to make it by. A huge problem is wages have stayed the same over the last ten years, and some have actually gone down. How are people supposed to live without struggling if watches don't go up, but the cost of everything does?

So again you guys aren't looking at it in a realistic light. Sure some people can make there own fortune, and yes it is possible. But that is only a path few can take. Most people don't have the know how, or the business sense to take that path. That's why there are leaders and followers. Leaders can take that path, followers need a hourly job with no risk involved.

So again I stand by my original statement.

I don't know where your stats are coming from bro. The average wage is $18.33 per hour in this nation, not $10. As for wages going up, the average wage in 1989 was $16.63. Now, that's not great, but it's up and it's a fact. The average wage has not went down. Sure, in some jobs, yes it has went down. Too much construction, the bust of the tech industry and other things caused jobs in those sectors to receive lower wages in certain parts of the county, but not all over. You just need to move bro. In Colorado, we had a vote and it was overwhelmingly voting in that the minimum wage was raised almost a dollar. We took it upon ourselves to do it. The biggest hit here was the tech industry, We had MCI, Intel, Microsoft and many others and when that all went bust, a lot of those jobs went too. The semiconductor business used to be booming, now it's not. So, guys who made $75k a year are having to settly for $60k. But, that's the ONLY area in this town. Everyone else is doing fine. Every state has it's thing. Dave's state is really struggling because cars are the economy there and when Ford lays off 20,000 people and close several dealerships, that kicks them while they are already down. Also, you are in FL, right? FL is not a good state for small businesses. There's a list of the top 10 States and top 10 cities for small businesses bro, if you aren't in one, then you WILL have a hard time. Now, I was lucky, I moved to a city that is very good for small businesses so I had no problem starting up my own business. But, if I were to start my own thing in 100 different citie across this nation, it would not have worked. In other cities, guys like you and me (self employeed) won't do very well. You move to a place like ATL or one of the other top cities and you would boom baby, I mean boom! Cities like ATL have always been great for small businesses because it's such a melting pot that easy to find new people who don't have someone providing them the service you provide yet. It all goes by where you live.

TweetMy personal advice is to make sure your sons and daughters get a very good education in either a high tech field or a professional one. That way they will never have to worry about being without. Many of the ppl in these postitons being laid off in the mid-west, especially in states where vehicles are produced, there is a trickle down effect and these ppl will find it very hard to find the type of pay they are used to getting. Where does a line worker find a job paying 25-30. hr after being permenantly laid off, lol? Western states like Arizona, Colorado, etc have actually economic growth especially in the real estate sectors. Very dif there then in the upper mid-west where many rely on the auto industry as its main source of business structure.

TweetHere's How I See It

Some see the glass as half full.

Some see the glass as half empty.

Personally I am amazed that there is such a thing as glass.

If you go back and study history, you will find out one thing, and one thing for certain, everything, and i mean everything we folks complain about today have been the same thing they have complained about from the beginning of time.

And yet, progress is continually made.

Good Luck

TweetDJ, this is waaaay off topic but I'm just wondering do you have an ulcer? I'm actually being completely serious here. I know that you're very passionate about your beliefs and passion is a good thing but Jesus man, you seem really high strung.

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Originally Posted by T-Man007

I don't know where your stats are coming from bro. The average wage is $18.33 per hour in this nation, not $10.

My stats are coming from the fact that everyone I know, and all the people they know all say they make around that wage. Then go and look in the paper to see what wages jobs are offering. $18!!!!! Only for professionals with higher education. The average american does not make $18 an hour!

Besides baby boomers noone under the age of 30 that I know is making even close to $18.

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Originally Posted by kite

DJ, this is waaaay off topic but I'm just wondering do you have an ulcer? I'm actually being completely serious here. I know that you're very passionate about your beliefs and passion is a good thing but Jesus man, you seem really high strung.

No but sometimes I think my head is going to literally explode. Years ago I went to a hospital to have them give me something to calm me down, So they gave me valium. Even the valium wasn't able to do anything.

I've got seriously high levels of adrenalin. So when the average person would get a little mad, I get so mad that I can't breathe, my brain goes numb, I lose feeling in my fingertips, and I want to explode.

Three things in this world set me off.....

1. Inconsideration
2. Stupidity
3. People trying to control me

Any of those three things make me nuts!

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Originally Posted by mick-G

My personal advice is to make sure your sons and daughters get a very good education in either a high tech field or a professional one.

Exactly. Get a professional degree in something stable so that no matter what the economy does you will have a job. Also try to find a job with the government. The government doesn't lay people off! They lay off contractors, but never federal employees.