How is your local economy?

Discussion in 'Financial Cents' started by Quantrill, Dec 9, 2008.

  1. Quantrill

    Quantrill Monkey++

    So how is your local economy? Ours just went to pot this week! This week two of our largest local employers slashed jobs. One, a garage door factory terminated 1/6 of its work force, or 100 jobs. Then while getting my morning coffee today my friend and I were chatting and he got a call on his cell. His wife called to get a ride home as she and most of her workmates were terminated today, no word on how many people but, it will be as high as several hundred jobs. All of these jobs were in the financial sector.

    I have been watching the Dow Jones Industrials closely but I feel they are not a real measure of what is happening on the ground. Recently the DIJA have been up but, things around here are getting worse with a quickness. If things get much worse around here we will have a small scale SHTF scenario with all the unemployed.

    I can see theft and other such crimes going up. Maybe not immediately but after unemployment benefits are gone then what? People will do what they have to do to survive.

    I have seen a lot more homeless people on the street and it used to be that only old jalopies were in the parking lot of the Aldi grocery store. Now it is not uncommon to see well dressed people driving nice newer cars at Aldi. Pawn shops are full to the brim, people are trying to sell anything they can. The other day while looking at guns I saw a guy with a huge assortment of electronics trying to sell anything he could. Normally I would have guessed this guy stole this stuff but, again well dressed, nice SUV, not likely stolen.

    Batten down the hatches this storm is going to get worse. At least from where I am sitting and in light of our local economy.
  2. QuietOne

    QuietOne Monkey++

    Here in New York the economy isn't too bad. With the Wall Street brokerage firms, banks and finance companies stealing... er, borrowing billions of dollars from the government pigpayoff bill there's still a lot of condo building, stores selling luxury goods and politicians getting big bribes.

    I know, it can't last. The [shtf]soon.
  3. overbore

    overbore Monkey++

    IMHO the real question is what then? Printing more phantom money will delay the disaster only for short period; then what? [dunno]

    Ideas anyone? Overbore
  4. monkeyman

    monkeyman Monkey+++ Moderator Emeritus Founding Member

    Well I was working away from home through the fall and got layed off the 18th of last month. I came home and the following week started trying to file for unemployment. Here in MO you have to do that over the phone, you cant go in and do it in person. Given that I have spent at least an hour most days hitting redial and 95% or more of the time the unemployment line is busy then if you get to the automated line and try enter you need to file a claim it tells you the hold lines are full and call back later and so with SEVERAL hours of trying I havent been able to get through in almost 3 weks to file a claim, I think our econemy and unemployment must not be real good. The office they have where you can use their computers and such to look for jobs has also been packed all the time when I have stopped by since getting home.

    Not looking good....
  5. Quantrill

    Quantrill Monkey++

    My friends wife has had the same problem you have had Monkeyman, that is hours on the phone trying to get through. Fortunately she will be able to go in person here in KS.

    It is like this whole mess has recently accelerated in my neck of the woods.

    Overbore, what then?

    In my opinion we need to just let the system fall. By printing more money we are just digging a deeper hole. I agree that what they are doing now is only delaying the inevitable but, what we do today can either make it bad or worse depending on which route is taken.

    I guess just keep preping, that is all you can do to insure any kind of security for you and your loved ones.
  6. Tango3

    Tango3 Aimless wanderer

    visited a friend north today on the way back we stopped in a "Powersports dealer" for a bottle of oil
    (Can am, Yamaha ,and Arctic cat snowmobiles and 4wheelers) the place was packed...Owner let on we "do"(sell) 5-6 machines a day( which I found hard to believe) but there was a line at the parts counter 4-5 people long. Somebodies got cash..

  7. Tracy

    Tracy Insatiably Curious Moderator Founding Member

    7.3% unemployment. More companies are downsizing, local car dealers are closing.

    Luxury hotels are reducing their holiday package prices to draw visitors.

    The malls are still full of crazy women.
  8. ghrit

    ghrit Bad company Administrator Founding Member

    Not to insert too much levity into a serious discussion, but just how would YOU know that?
  9. Tracy

    Tracy Insatiably Curious Moderator Founding Member

    I drove through the parking lot... That was enough of the mall experience for me[gone]

    Monkeyman; Can't you access the unemployment system via computer there?
  10. mobilus

    mobilus Monkey++

    They say that Texas isn't hit as bad as a lot of states, but Wichita Falls up in north TX has seen a lot of lay-offs this year, and it appears to be worsening. Not that you'll hear that from any city officials. But 725 lost their jobs when the fiberglass plant closed, and now they're parting it out, so that's a done deal.
    A hundred just lost their jobs as Avis announced cutbacks at their call center.
    Sheppard AFB, a major employer here, just announced that it was going to contract the base's civil engineering needs, so those folks will have to look for jobs elsewhere. And the medical training is leaving for San Antonio this coming year.
    The drop in crude oil prices has stymied the oil field work, owners aren't so eager to throw money at wells with such low return on their investment. Cattle prices are down. Housing sales are in the tank. Even scrap iron isn't bringing wnough to pay for the expense of getting it to the scrap yard.
    Craigslist has quadrupled the number of daily ads, so people are looking for ways to get some money here too.

    But I still see people blowing imaginary money (credit) everyday. XBoxes won't work without power, and who's kids are gonna want to play if they're hungry and cold? Priorities are really screwed up, and I think that once the majority figures out the gravity of our present and almost assuredly future conditions, well, it'll be too late for them. But wait, Uncle Obama will be there for them, right?

    In the meantime, preparations need to be made for the hard times ahead. Doom and gloom, I know, but being prepared won't cost anything like not being prepared.
  11. monkeyman

    monkeyman Monkey+++ Moderator Emeritus Founding Member

    Normaly you could do the unemployment thing on line but since I had out of state wages I have to do it on the phone. They are so overwhelmed that even the online system is strained and in and out of service. I had finaly gotten through and they let me know I would be good to go and retroactive for the 2 weeks I had ben trying to get through but then got a letter today saying I dont get any bennifits at all.

    In adition to all the folks out of work I know our local paper that normaly has a full page at LEAST of jobs this week had only 4 job openings in it. One was the typical pyrmid scam, one outside the area and the other 2 required specific advanced degrees.
  12. Quantrill

    Quantrill Monkey++

    Just for grins this morning I looked at our news papers classifieds to see if any jobs were available. All I gotta say is I am glad I ain't looking for work right now.

    Normally there are at least temporary holiday jobs around but, not this year!
    I don't know if UPS and FedEX are simply not hiring or if all the temporary spaces have been taken, same goes for retail jobs as well.

    I wonder what the unemployment figures for December will look like.
  13. Tracy

    Tracy Insatiably Curious Moderator Founding Member

    Holiday hiring has come and gone (it usually peaks late October).
  14. monkeyman

    monkeyman Monkey+++ Moderator Emeritus Founding Member

    Whatever the numbers say, just know they are artificialy DEflated if its anything like here. I know I got layed off last month but will not show up as unemployed even though I tried to sign up.
  15. Quantrill

    Quantrill Monkey++

    Kinda like the old joke goes;

    Q: What is the difference between a recession and a depression?

    A: A recession is when your neighbor gets laid off, a depression is when you get laid off.

    Not really a funny joke if your living it, just hang in there Monkeyman.
  16. CRC

    CRC Survivor of Tidal Waves | RIP 7-24-2015 Moderator Emeritus Founding Member

    Unemployment is the highest since 1992..(except for a brief stint in 2003..)..More people on Food Stamps, and other asssistance programs...They aren't doing all the background checks like they used to when issuing them either.....

    The housing market is the pits....although it hasn't stopped Snowbirds from buying out at the Beach...With the low prices, they're snapping them up.

    The Daily Labor places are booming....and people are not getting out like they used to....You see them walking the streets everyday more than ever....The work isn't there for them to send people out...

    The pay scale here is unlike anything I've ever seen, it's so low....and getting worse.

    If you work in Hospitality, you've got it made...From March - December...It hasn't stopped the big bookings at the Beach. Spring Break, Thunder Beach, etc.....

    A lot of Construction companies going out of business , or filing for Govt help......

    It's weird...The City itself is not an affluent city, by any means...and it seems worse. The Beach, even with all the foreclosures, seems to be making it? Nothing closing....Looks like business as usual....? And the new Simon Mall they built out there? Packed every day....

    Of course, St Joe company owning half the county hasn't hurt here...
  17. monkeyman

    monkeyman Monkey+++ Moderator Emeritus Founding Member

    Yeah Im not seeing a lot of other options so figure to start the accademy and do whatever I can to hang in and complete it. I figure if I can do that and get on a LEO position not only can I help those around me but as a big bonus get some of the only job security left that I know of.
  18. Byte

    Byte Monkey+++

    The rich are just feeding off the poor and grabbing up what they can. The transfer of wealth is nearly complete...and when it is done serious unintended consequences will surface.

    [troll] ing along!

  19. CraftyMofo

    CraftyMofo Monkey+++

    "The rich are just feeding off the poor and grabbing up what they can. The transfer of wealth is nearly complete..."

    Wha? Rich feeding off the poor? Most rich folk I know are struggling...

    Where is wealth being transferred? Looks to me like it's maybe being destroyed...
  20. RouteClearance

    RouteClearance Monkey+++

    You mean the "System" is feeding off the rest of us. The "System" being .gov and the public corp. entities that have just left us with a bill of 8.5 trillion dollars so far.

    Wall street is made up of public corporations and banks, not private companies owned by the true entrepreneurs that are the bullwarks of true capitalism. Just as CraftyMofo just said, weath is being destroyed, not transfered.
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