how has the economy effected you?

Discussion in 'Et Cetera, Et Cetera' started by D_N Flay Table, Jan 25, 2009.

  1. D_N Flay Table

    D_N Flay Table New Member

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    Hey everyone..

    As you may or may not know, I sell cars in southern California.

    Until just recently I have not felt the bite of our economy, but in the last month, it has become evident that things are slowing down a bit...

    I have gone from selling 20-30 cars a month...

    To hopefully 10 this month...

    Scary no?

    How if at all has our current economy effected you?

    When do you think it will turn around?

    I feel that in the next few months we will start seeing a rebound, at least I am optimistic about that...

    thoughts?

    Hey, anyone you know need a car?
    haha
    D
     
  2. kalipygian

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    I don't know if anyone in Alaska has been effected yet, the pundits project that the states GNP will go down by a percent or so next year, as a result of low oil prices.

    I don't know how cars are selling here, it has long seemed to me that there are more dealers than it would seem like the market could support.
     
  3. B_Nick4444

    B_Nick4444 New Member

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    so far it hasn't, other than, of course, investment opportunity

    (actually seem to have a bit more money available for saving and discretionary spending)
     
  4. B_mitchymo

    B_mitchymo New Member

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    well from my perspective with the uk going through the same thing.....

    .....i was poor before and i'm still poor now so nothing significant has changed for me...

    ...i may consider selling my virginity on ebay to make some cash i guess....

    ...oh........i'm gonna have to tell a small fib tho :)
     
  5. D_Brecock Evileye

    D_Brecock Evileye New Member

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    I am okay, My dad got laid off. One of my friends father was laid off as well. We both work retail and are union, the company would have to lay off everyone hired after they hired us to lay us off. I f it gets that bad we are in real deep sh!T.
     
  6. Denby

    Denby New Member

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    So far the economy has only had limitted effect on me. I retired from teaching a couple of years ago and receive a nice monthly pension check thanks to the union. I also work occasionally in temp jobs. Temp jobs seem to still be good maybe because there are no insurance premiums for the employee and wages can be steady without need of offering increases after a few months time.

    Costs have risen which do make things somewhat harder at the grocers and other places. So far I am still not needing to dip in on my savings. With the cost of gas back down I am again able to drive to my heart's content.
     
  7. Rikter8

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    Yes.

    Got any:
    86 Chevy Chevette 2 door's with AC?
    87 Olds Cutlass with T-Tops
    87 Buick Grand Nationals/Regal T-Types
    89 Firebird TA's with T-tops
    68-74, or 78 Firebird TA/s with T-tops
    70 Cudas?
    70 GTO's?
    Running or Not. As long as they are rust free or repairable.
    Im looking for cheap project car.
    I've got a 76 Pontiac 400 that's getting a Fuel Injection retrofit and needs a home.
    I'd LOVE to fly out to Cali, just for the vacation aspect - I Need it!!

    Other than that, it's been hell here in MI for many of the residents here due to the auto market falling flat on its face.

    I have kept money tucked away and sold off some un-needed things, as well as continued on my PC repair side business, and new website.
    I'm watching my spending and saving my money for the "Much wanted when the opportunity arises", or needed items.

    Last years car shows were a sign that people were scared. Everything was scaled back. People trailered their cars instead of driving, and many hi-po cars didn't show at all.
    Many shows were cancelled alltogether since parks raised their rates to make the shows just unaffordable.

    Hopefully this year will be MUCH better, and I'm promoting the shit out of the Michigan shows so far.
    C
     
    #7 Rikter8, Jan 25, 2009
    Last edited: Jan 25, 2009
  8. D_Percival Puddleford Pukehorn

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    the economy has affected me in certain ways like i can't seem to get a 2nd part-time job that easily anymore. Before it was a snap! Now it's complicated for some reason. I'm suspecting the economy??

    And my current day-time job is not making much money. I wonder sometimes if i'll have a day time anytime soon.
     
  9. rbkwp

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    NOT yet..doubt it will affect me personally..have had safegaurds in for several years now
    without being a smartass .. i was pissed off with all the crap from Y2k days .. and whatever Bullshit they tried to lay on us then..and since then i really have put things in place (like a Bomb Shelter) that sort of gives me a little immunity to any possible Crap that can befall us over the next few years..?
    Fck am all i said .. way back then
    enz
    DJG .. the Car Industry over here..well no one seems to be bitching yet...surprizing really..as we have been the junkyard for Japanese imports fr years..(like 15).yet neither 2nd hand nor New caryards have muttered a crisis looming..yet'?
    Think they willl eventually/cunningly start crying -Bankruptcy-'
     
  10. killerb

    Verified Gold Member

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    I was laid early off last year...
    I used to be able to get high-paying jobs quickly & easily...these days, not so much...
    my 401K has taken some hits...
    I'm back to work now, but at a drastically reduced salary...and it SUCKS!
     
  11. HazelGod

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    It hasn't...and it hasn't really affected me all that much, either. :wink:
     
  12. Drifterwood

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    I find it interesting that whilst the current problems were first evident in the US, you seem to be feeling it less than others. Perhaps you are just less pessimistic that the value of your stocks etc has nearly halved, that interest n your savings is near zero and that at some time those with any money left in the country will have to pay for it.

    In the UK, I think it is fairly simple, we don't have a functioning Banking system at the moment. In a capitalist economy, that is like trying to have a fuck without a hard on.
     
  13. D_Pubert Stabbingpain

    D_Pubert Stabbingpain Account Disabled

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    Interesting comment. Saw an item on the NBC News 2nite about the UK and it looked devastating. Good time for us Yanks to travel there though!

    Me? Severed last summer, overqualified for entry jobs, home value and invested savings both down 30%.

    Don't think we will see a turn around in the states until next year if, and that is a HUGE **IF** Congress can get its shit together (boy, that's a laugh!) and BIGGEST ****IF**** all they are trying to do works. This is all new territory and no one really knows if it will. Even if it does, whose going to pay all that back? If China stops lending us money, we're sunk. Let's hope they have the brains to know that to cut us off also cuts them off.
    Then, you've got inflation that will be so devastating in the coming years that our dollar will be worthless. You can't print $$ and not expect inflation.
    Any room in that NZ bomb shelter?
     
  14. B_Nick4444

    B_Nick4444 New Member

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    according to this Wall St Journal article, what I said may be changing:


    • JANUARY 13, 2009
    Job Losses Loom as the Recession Arrives in Texas

    By LESLIE EATON

    The national recession is about to catch up with Texas, costing the state 111,000 jobs in the next six months, the state comptroller warned legislators in Austin on Monday.
    The new forecast is a sharp turnaround for Texas, which for months continued to prosper even as the economy crumbled in most of the rest of the U.S. While most states were shedding jobs in the 12 months ended in November, Texas added 221,000.
    As always in Texas, oil and gas prices played a leading role in the economy's boom, and now are contributing to the bust.
    But the state also has become a major exporter, leaving it more vulnerable to the global downturn as demand shrinks for U.S. goods, economists say.
    The Federal Reserve Bank of Dallas compiles reports about regional economic activity for the national study known as the Beige Book; for Texas, "it's been getting worse and worse each time it comes out," said Mine K. Yucel, a senior economist at the bank.

    The bank's index of leading indicators hit a 2008 peak in June -- about the same time oil was reaching highs above $140 a barrel -- but has since dropped, as have gauges of manufacturing and exports.
    The state's economy held up better than the nation's in the recession of 2001-02, but continued to slow in 2003 when the rest of the country rebounded. And in the 1980s, the energy bust brought economic activity in the state to a standstill for years.
    Those experiences prompted state efforts to diversify the economy. The oil and gas business, which accounted for about 20% of the state's economy in the early 1980s, dropped to under 4% by 1998, according to data from the Commerce Department's Bureau of Economic Analysis.
    But as oil prices started to climb in 2002, so did energy's share of the Texas economy. Karr Ingham, an economist who advises the Texas Alliance of Energy Producers, says that energy's share of the state gross domestic product probably hit 10% in 2008.
    The energy-producing states fared relatively well in the past year, with the Dakotas, Oklahoma, Wyoming and Alaska joining Texas in the dwindling club of states with job growth. Unemployment rates in November in these states remain under the national average of 6.7%: In Texas it is 5.7%, and in New Mexico, 4.3%.
    But with oil's drop -- crude futures settled at $37.59 a barrel Monday -- "that buffer has been eroding," Mr. Ingham said.
    Texas Comptroller Susan Combs predicts a $2 billion reduction in taxes on production of natural gas and oil over the next two years, contributing to a total $9 billion -- or 10.5% -- decline in revenue.
    The state gets most of its funding through sales taxes, which Ms. Combs's office predicts will actually increase by 2.9% in the next budget cycle. That, she said in an interview, is because Texas isn't experiencing the kind of foreclosure epidemic seen elsewhere.
    Texas hasn't been immune to the real-estate slowdown. Both building permits and existing-home sales have fallen by a third in the past 12 months.
    But unlike in cities such as Phoenix, Las Vegas and San Francisco -- where home prices have fallen more than 30% from their peak -- home values in Texas have held relatively firm. Prices fell an average of 5.5% in the 12 months ended in November, according to data from the Real Estate Center at Texas A&M University.
     
  15. Skull Mason

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    mothaufckaz is broke
     
  16. Drifterwood

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    It certainly is, though you will have to hurry to beat the mainland Europeans. Basically everything in the UK is 33% cheaper for you guys as it was six months ago. This includes stock of stuff that was imported from China at the old $ rate. What noone seems to want to talk about here is what happens as we need to restock imported goods that will efectively cost 33% more for us. Given our balance of payments and the loss of invisibles such as banking, the effect on inflation could be another hammer blow for our economy.

    I can't see that anything will work other than the hard lesson of every other recession. Those who made mistakes or bought at the wrong time in the market are going to get hurt. They have to be liquidated and take the loss, whether they be a Bank or an individual who paid top dollar for that house. You have to clear the table to lay it again.

    Anyway, back to your point. If you dreamt of an MGA or Big Healey, or maybe those antiques, now is the time to fill your boots.
     
  17. Mr Ed in Mass

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    I was thinking about retiring and sell my house before all this happened.I've changed my mind on both.I still love my job, which is recession proof,and I'll wait until the housing market picks up again.
    My retirement plan and investments are in good shape and hopefully will stay that way.
     
  18. blg3floor3

    blg3floor3 New Member

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    Yes, very. Out of curiosity, what car line do you do and how long have you been in the business?

    I can't get a job. And I'm not even talking about "real" jobs. I'm just trying to get any random, menial, hole in the wall hourly job right now so that I can keep taking my Systems Programming and Network Programming AAs at my community college. I've applied to over two dozen jobs since September, but the response is always "We've gotten hundreds of applications for this position" or "we're in a hiring freeze right now". For cashier or inventory or shipping/receiving jobs, are you kidding me? It's a sad state of affairs when you can't even get a simply hourly job.

    What is possibly hurting my chances in the situations where they are hiring, but have gotten hundreds of apps, is my lack of history since 2002 while I've been a full time student. I've had four jobs in that time, none for more than three months because of the moving back and forth I had to do between here and school. I don't have to do that anymore, so now I can stick to something long term. But I gather the fucking pricks are holding it against me.

    No idea, but soon hopefully. This is ridiculous.

    We can hope. First, we'll see what congress does with the recovery bill Obama has proposed. I hope they don't cock block it.
     
  19. D_Ivana Dickenside

    D_Ivana Dickenside New Member

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    djg, i still haven't seen that stupid frickin guy at work! i'm gonna hunt him down tomorrow morning when i get in and i'll make him buy a car from you... GRRRR!
     
  20. sdbg

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    I've been saving for a high end carbon fiber road bike. Due to rising gas prices last year, bike sales are up the same model has gone up nearly $1,000 in the past year. I'll get that bitch some day!

    I have a very secure job, so that part is cool.

    Sold my last car in May, have been using my bike to get around, so I'm not too stretched financially.

    I've noticed that food is going up. Good thing that I can cook from scratch.

    I'm skillfull at budgeting (work as an accountant). My suggestion for everyone is to live within your means and not rely on your credit cards.
     
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