How is your local economy?

Lol no offense, man, but you don't know the 'rich'. You might know some people with several million in the bank. Hell you might even have personal relations that have a hundred million in the bank... But they are not the rich of which I speak... And nobody with a hundred million in the bank is hurting. There are tons of people with 'new money', ie cash made in the current familes lives and is most likely on 'paper' only, who are surely begining to feel some preasure. But the truly rich are spounging up wealth like a hoover. There are people that will come out of this so stinking rich it'll be mind boggling. There will also be unbelievable amounts of suffering and anguish.

It won't neccesarily be strict cash wealth they gain. Property and hard assets will translate to wealth and they are grabbing it up. I'm so friggen poor that either way it doesn't much affect me. I'm just an observer.

Byte

 

I agree with Byte. The truly wealthy are not hurting nor will they get hurt, and are going to soak up even more wealth and power.

Wealth, like energy is neither created or destroyed, only changes forms. Or in this case hands.

 

Exactly...you summed it up much better than I did. My point is that there is limited useful property and assets. They will just shift hands to the ultra wealthy.

Byte

 

Well, FedEx (probably the primary employer in Memphis) just announced that all salaried employee's are getting a pay cut (including a 20% cut for Mr. Smith himself), Fedex will stop stop the matching 401k program, no bonuses will be given out, etc.

http://www.wreg.com/global/story.asp?s=9551937

Glad I don't work for FedEx.

 

kckndrgn, that is amazing. You know it's bad when the folks on salary get their paycut.

Have you ever felt that all this is just the tip of the iceberg.

Where are we going?, and why are we in this hand basket?

 

I hear ya, Byte...no offense taken, in fact I agree with you. It's a matter of definition.

In my view, the rich are those who have enough wealth such that they have no need to work.
The poor need to work to make ends meet.
TPTB, "the Man", etc. are in another class entirely. They have the ability to change the underlying fundamentals at their whim....

 

Snowing and wallyworld was just packed tonight! humanity overload for me.

 

Sawmills are the main employer around here most of them are in trouble. I have shut my down. So has every other small player that I know. A couple of the mills that are conected to national mills are about to go out. The price of rail road ties is up, but I can no longer sell grade lumber, which is where you make the most money. From what I have heard after the first of the year wholeseller that I (and everyone else) sell grade lumber to is going to start buying grade lumber again. I figure the price will be low though. There will likely be less alot less mills in the area. The local flooring mill is running but they are really building up a large supply of logs. I imagine the loggers are taking a real beating on the logs.

The place I work at is still going pretty strong and we have been working overtime. I hate the place but it keeps the bills paid and a roof over my faimlies head so I show up everyday. I just grin and bear it hopefully things will get better and I can get the #&!! out of there.

OGM

 

Take heart friend,you are alot closer to ditching the factory grind than most folks. I escaped but I'm "special"...

 

As an update the local wholeseller for grade lumber has started buying lumber again. I told WG that I was going to try to find a logger that will bring me a load of logs every week or so and start up the mill on a part time basics and see how it goes.

OGM

 

Good luck OGM!

The range where I work part-time has been booming! Our classes are filling up and we are having to add more classes to our monthly schedule to keep up with demand! This is normally our busy time of the year, but this year it has been just crazy, but that is a VERY GOOD thing!

 

Thanks guys. I talked to a guy I know last night that is logging his place and he kind of thinks he's getting taken on his logs. He said he would give me a call when he had the figures from what he's getting to see what I could offer. My mill is doing nothing but costing me money sitting idal. So I'm going to offer him a sweet deal and see where it takes us.

OGM

 

Re: apologies to ghrit and Blackjack, in advance

OGM