What is your personal take on the economy? It looks bleak to me...

[ariellyn]

Went to KMart (as opposed to that other "-Mart") tonight rather than watch you-know-who. The place used to teem with people daily--the parking lot was always full. About 20 people were in that huge store tonight. She shelves were modestly full, no sales--no excess inventory.

Friend of mine shopped at mall Saturday. She bought me a pair of pants at one of our favorite stores--it's going out of business. She remarked about how empty the mall was.

Christmastime. I went shopping Christmas Eve--something I vowed I'd never do again because of the crowds. Stores were not overcrowded at all. I remember going to Marshall Fields to shop during Christmas and it was like a mob scene with people in lines holding up credit cards begging someone to take them--not this past year.

I sense a serious economic downturn is on the way. All I could think about tonight at KMart was saving more money to weather the storm.

Friend's husband out of work six months. Talked to her Friday and their praying he gets a lower paying job that will take an hour-and-a-half daily commute--three hours round trip.

Anybody else see signs of this? It's very scary. :scared:

[POed_Ex_Repub]

1. Yeah.. It's like that all over.

Unemployment and underemployment run rampant. Those lucky enough to be employed working 3 people's worth of job with no security. "Economic recovery" my butt.

[7th_Sephiroth]

16. dont forget that

the euro's rise against the dollar is being aided by bush alienateing foriegn backers, having them pull out thier investments in the dollar

[Virginian]

2. Didn't you hear the SOTU, the economy is strong. -- another Shrub lie.

With a jobless recovery, how can people afford to buy anything?

He has created more jobs -- in India.

Companies have a good bottom line right now because they are producing more at less cost. They are moving the factories to the third world where the monthly wages are what Americans used to make an hour.

Get a day pass and read this SALON feature from yesterday. It explains it better than I ever could:

The no jobs president
By James K. Galbraith

http://www.salon.com/opinion/feature/2004/01/19/no_jobs/index.html

[solinvictus]

3. Grim

It looks grim here (Chattanooga, TN) as well in both retail volume and the overall job market. My wife and I are fortunate enough to have good jobs, but so many in this city are suffering; especially those formerly employed in manufacturing. As I told my dad the other night, the only tangible growth you can see is in businesses that take advantage of poverty; buy-here/pay-here used car lots, check advance services, check cashing services, and pawn shops. The only new jobs here are minimum wage temp or retail positions.

[Cascadian]

4. My biggest hope is that...

the more they keep telling us the economy is great and more people are out of work, the more people will get angry and this will go against Bush.


Fortunately for me, I am working again. I am on a 60 day trial basis. So far things have been working out and hopefully I will be hired on permanmently. I know I don't ever want to go through the hell of unemployment ever again. I am also trying to work on going into business for myself as well. So in that respect I am optimistic. However, I do spare a thought for those who have not been so lucky.

John

[...Alltogethernow]

5. Fortunately, looking good here

... Fought for an 18% raise in in the fourth quarter of 2003 and got it! The company is accepting applications for skilled positions at the time as well.


... The field I'm working in is flourishing.

[ariellyn]

6. Lucky you

Too bad most people aren't getting 18% raises. What field/industry is giving 18% raises?

[...Alltogethernow]

7. I beg your pardon!

... Luck had NOTHING to do with my raise. Shame on you!

... I earned every penny on it!

... As for the field I'm in, It's personal and I won't say publicly.

[Serenity-NOW]

13. It's personal?

To name the field you are in? Now that's a crock if ever I've read one. You see, your work is not 'personal' that's why they call it work and the other stuff you do is you 'personal' life. BS detector on overdrive.

[Kinkistyle]

14. Body bag/Transfer Tube manufacturing?

Wouldn't be a body bag maker would it?

[Serenity-NOW]

15. I'm thinking bankruptcy or foreclosure related

since those are in boom time.

[SpiralHawk]

20. Let me guess - You live in India and are working as a

telephone fund raiser for the Republican National Committee?

Did I get it right? There does seem to be an upsurge in those kinds of jobs -- overseas for citizens of other nations.

[KayLaw]

28. Please be kind

With so many unemployed, if you know of a field that's booming, why not share ? Unless you're doing something illegal, how can naming a field of work be personal? I just don't understand.

[Kathy in Cambridge]

30. Good Point-Why Doesn't She Say Which Field She's In?

Maybe she's lying? :shrug: Self-righteous indignation is a sure sign...

New England is suffering big time. Bank of America just bought Fleet-one of the regions largest employers-and layoffs are looming. Like the Bay Area-where our pal "...Alltogethernow" lives-Boston was hobbled by the tech bubble and we still haven't recovered.

She may be skilled, but then again she is 'lucky' to have chosen her field.

[BrotherBuzz]

8. Local newspaper help wanted ads are sparse...

No job offerings in the convenience/gas store businesses...a first in my area, and a pretty sad barometer of the local economy.

[Lostmessage]

9. There are allot of Bankruptcy fillings

Why doesn't anyone ever mention the bankruptcy's and foreclosures that are taking place.

[solinvictus]

10. America's debt

Because it's a scary prospect in the face of a debt based consumer economy. It's like in 2001 when Chimp was imploring people to spend when layoffs were hitting industries by the thousands. If we don't spend, the economy shuts down.

[JCMach1]

11. There is nothing like living in a truly booming economy

to what trouble the U.S. is in... Explosive growth continues in Dubai and the UAE in general. Having said that the UAE economy grew somewhere between 3.5 and 4% last year...

The U.S. GDP numbers are absolute rubbish. The economy in the states is in the shitter.

[booksenkatz]

12. Too busy here rolling coins for gas money

to answer your question. My husband earns what I consider to be a good salary (my job was eliminated in 2002, I've quit looking), and yet we're struggling. I can only imagine the pain people are in when no one in their household is earning squat. The single item in our budget that is kicking our ass? Groceries! And we don't even eat anything fancy, or even 3 meals a day. We skip meals all the time to save money on food, but the grocery bill is still killing us. We're buying store brands whenever possible, too.

I wasn't kidding about rolling pocket change for gas money, either.

Edited to add: my old company says they're thinking of creating a part-time job for me. They shut down their Michigan office, but they do have some people working out of the K-Mart headquarters in Troy. I'd have to drive an hour (one-way), which doesn't help the gasoline bill. But if I can net 10-20 bucks a week out of the deal, I may be forced to take it. Can you imagine going through all of that hassle to net 10-20 bucks a week after gas and daycare expenses? I may have to. It sucks that $10-20 can make a difference in how well your family eats, but it's reality. It's called being hungry in the middle class. I miss the prosperity we had under Clinton, my family did so well during the 1990s!! These days we're living the way we did when we were newlyweds, except this time we have a child to think about.

[NickB79]

17. I've been watching the number of homeless explode locally

I graduated college this past year with a BS in biotech and chemistry, but the job pickings in my area have been slim to none. Moving out of state was not what I'd wanted to do, but I just may be forced to. In the meantime, I've switched to full-time at the sub shop I worked at part-time over my college days to pay the bills and avoid having to move back home to my parent's place. The majority of my friends I graduated with are in the same position; working for low pay in jobs not even closely related to what they majored in.

The one thing that has really gotten my attention to just how bad the economy has become is the booming number of homeless people on the streets in our city. In the 5 yrs I've lived here I've never seen it this bad. There is a homeless shelter 3 blocks down the street from the Quiznos Subs I work at, and it is turning people away daily, even now as temps dip below zero nightly. People have stopped us by the dumpsters and asked if they could dig through our garbage for food. Homeless men have passed out in our store after drinking their "dinner". Last Thursday there was a fight less then 50 yards down the block where one homeless man stabbed another homeless man over a jacket and gloves!

I don't know how much more of Bush's economic "recovery" we can take!

[onethatcares]

18. tampa bay area

pickins are slim here. I was downsized in august last year, took me three months to find a job and this is in the construction industry. I'm back at it but the moneys not the same and of course the gas prices are up so it's like working for 12/hr and I have 25 yrs experience. Help wanted adds are minimal in the papers here unless you are a healthcare pro. Many companies are merging or moving out and we're losing jobs 200-400 at a time. I wouldn't want to be starting out at this point for sure.

[KayLaw]

27. Tampa Bay

We live nearby and get a free newpaper every Wednesday. I looked at the classified section a week or two ago and saw just a couple of good jobs - one for firefighter. I did see one strange ad. You can earn between $14,000 - and $45,000 by taking in a foster child. I just thought that was a little odd.

[Nobody]

19. Pass the ramen noodles

It seems like we're heading toward an economy where most people will be stuck working multiple part time jobs and temp jobs and fewer and fewer people will have jobs that pay well and provide benefits.

After over a decade in the computer industry, I'm temping in a job usually taken by entry level grads in another field. Talking to my co-workers, there are other people who are out of work, too. Not as many entry level grads.

Where do I see myself in two years?

Depends on who's in the White House. If it's Bush, say hello to me as I check out your items at your local Wal Mart.

[sendero]

21. As I've posted here many times....

... I believe the economy is on a collision course with disaster. So much so, it almost makes me not care if Bush* is re-elected. I want to see the lying Repugs try to blame this on Democrats with a Rep president and Rep congress. I want Bush* to be in office when this meteorite hits.

Our economy is so awash is debt there are many who think it has reached the breaking point. Government debt, consumer debt, debt of all kinds are staggeringly high. Add to that sluggish employment in an economy where consumer spending is the main impetus for movement.

Once debt reaches a certain point two things happen.

1) the service (interest) on the debt starts cutting into needed funds

2) creditors (the Europeans and Asians who prop up our debt by buying Treasury securities) start thinking they will not get their money back, or will get it back with inflated dollars.

Both of these scenarios are disastrous and the country will be very lucky indeed to avoid them.

[Lost4words]

22. I have never seen things this bad, I am 49 years old. n/t

[laruemtt]

23. welcome to DU

one that cares! :hi:

[Iverson]

24. whose economy?

Since people now say "jobless recovery" with a straight face, we'd better own up that economics on the news is about money and not people. "The economy" is great for money and crappy for people.

[Corgigal]

25. Went to the local mall here in SC

and found out the Disney Store is closing. Never thought I would see that.

[blondeatlast]

26. Which economy? There are 2 in the US, and they rarely coincide.

Make no mistake, there are two economies in the US, theirs and ours.
Their money is tendered at Halliburton, Neiman-Marcus, and Rolls-Royce.

Ours is traded at Safeway (look what they did to Safeway employees), Wal-Mart (ditto), and used car dealers.

We NEVER see their money--but their economy is strong.

They see plenty of ours, and ours is dismal at best.

[NicoleM]

29. If GW wins or steals the next one

I'm convinced there will be a depression. Not a recession, a real depression. I'm going to start stocking up on non-perishables this summer just in case. I don't think saving money will do you much good if we see a spike in inflation.

[RandomKoolzip]

31. I've been a cook for about nine years....

So I've been able to "weather" the storm, I suppose (haven't been able to crawl out of the service industry as I 'd like to, either...)But, you know, there's a TINY silver lining in all of this.... Lots of my friends worked in offices, got laid off, and now they're working in restaurants, too.


It's a pyrrhic gift, but now, we can all commisserate, and plan, organize, etc. as to how we're gonna get the chimp out of office and stop ruining the economy. Because nobody wants to do the shit we do by choice....


Remember all those economic reports after Xmas? All the high end retailers experienced a BOOM, whereas all the discount, lowbrow retailers had a dud Xmas season...I think that says it all: the rich got richer, and the rest of us are fucked under Bush. He just doesn't give a shit about anyone who isn't a CEO.