Are things really that bad? - Page 3

David · David's Garage

This is a Porsche forum, I should hope things are going well here

sammyg2 · 08-28-2008, 12:32 PM

Life is good and getting better for me economy-wise.
I've lost a pretty good chunk in the stock market this last year (because of dumb risks) but I've been able to get most of that back in the the last several months.
The "value" of my house has dropped, but it's still worth several times more than what I bought it for and it's about even with what it was a few years ago.
My income is increasing at a strong pace, I'm saving more than ever and I have more disposable income than ever before.

My knee still hurts tho

Zeke · 08-28-2008, 12:39 PM

I got 2 calls today about some other contractors running off with several clients money. This happens all the time, but 2 calls in one day? Yep, the contractors that didn't prepare for this are loosing everything fast. I have a guy working with me now that lost his truck 2 months ago. Last year he had 8K in savings, today he rents a room in a private residence. He's a finish carpenter but he took on some rough ass work for me just to eat.

I'm working in So OC because the demographics are somewhat better. 35 miles each way every day I go. Not today.

David · David's Garage

I wish the contractor working on my house was doing worse. He only has a day or two of work left to collect the remaining $2K I owe him, but he doesn't seem too worried about finishing. I'm not too worried either, but if my wife b!tches about it one more time, I'm likely to find myself in front of a judge

Scuba Steve · 08-28-2008, 01:08 PM

Quote:

Originally Posted by 125shifter

This is a Porsche forum, I should hope things are going well here

It depends, is the car running today?

island911 · 08-28-2008, 01:35 PM

this just in ...

Quote:

Gross domestic product, or GDP, grew at a 3.3 percent annual rate in the April-June quarter, its fastest pace in nearly a year, the Commerce Department reported Thursday. The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate.

sammyg2 · 08-28-2008, 01:54 PM

Quote:

Originally Posted by island911

this just in ...
Gross domestic product, or GDP, grew at a 3.3 percent annual rate in the April-June quarter, its fastest pace in nearly a year, the Commerce Department reported Thursday. The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate.

That can't be right. Don't they know we're in a recession?

island911 · 08-28-2008, 02:02 PM

and on his day too.

Clearly, We must work harder to HATE America. .. to make it FAIL so that our fearless leader can shine down upon us with HOPE!

MT930 · 08-28-2008, 02:22 PM

Quote:

Originally Posted by Superman

It's all Dubya's fault. (I couldn't resist)

I'm doing well. Frankly, my future depends partly on the election of Mr. Obama and the quick and decisive recission of Executive Order 13202, signed by Mr. Bush as one of his very first acts as "president." Mr. Bush has been (quite predictably) an enemy not just of organized labor, but of the working men and women of America. Not only do my fortunes ride on this election, but so do the fortunes of most working Americans. A great many workers' rights have been denied these past seven years.

Kind of makes you want to throw UP!

I have been self employed for 20 years. No one has stood up for me! I watched organized labor shoot it self in the head in the mid west 12 Years ago and got away from the automaker business and left the area. Entitlements of any kind are 80% of the country's trouble.
I have had great prosperity in the last 20 years, twice what I ever imagined, The last year I have been going backward. I have done it before I always have a net gain in the long run. Out of 20 years in business i have had 15 Great years and 5 bad years seems pretty good to me. We will continue to have these cycles it's just the way it's got to be.
No one has the right to own a home or the right to have a secure job. My wife's family are big organized labor workers, they don't have squat, in fact the union has put the screws to them and they don't even know it. Times are tough but the opportunity is on the other side. The people with their hands out miss it every time. One thing we have learned this year is if you want a home you are going to have to bring money to buy it. Should have been that way all along.

Zeke · 08-28-2008, 02:23 PM

Quote:

Originally Posted by island911

this just in ...

Sure, I think our exports are way up due the weak dollar. The GDP is such a big concept. Why can't the number gatherers get a GDP from only people who sell shoes domestically? Let me tell you, folks can always get some more miles out of their shoes. No urgency there.

Shaun @ Tru6 · 08-28-2008, 02:35 PM

Quote:

Originally Posted by island911

this just in ...

1. tax rebate checks

2. exports.

1a. no more tax rebate checks

2a. overseas growth is slowing

I've seen 5 of our 114 stores close in the last 60 days. these are high-end Main Street clothing stores. August is the start of buying for Spring 09. Not this year. Second week of September according to my sales reps.

dmcummins · 08-28-2008, 02:43 PM

Well lets see, I retired last year at 50. Im still retired and still don't plan on ever going back to work.

Life is good, but I'm waiting for a bargain for a used boat. Maybe during the winter or if fuel prices go back up again.

My stocks are down some, but still above where they were in the beginning of 2007. I guess the value of my home is down some also, but I'm sure its still above what I paid for it in 2001 and I don't plan on moving anytime soon. Also its paid for and I don't need to borrow against it for anything.

dmcummins · 08-28-2008, 02:49 PM

As I remember, things were bad in the early 80's. Inflation was high, unemployment and so were interest rates. Try buying a house at 13%. My father was a home builder and things were slow, but he was still making a living. He was buying land from builders that were going under because of their debt. He also is doing well, he didn't retire untill he was 55 though. He said he wished he had retired sooner.

anotherblack944 · anotherblack944's Garage

Retire @ 50??!!?? I'll have to work till I die... Wallymart here I come!!

I think it's a really a subjective question. Sure you can believe the BS gub'mnt stats but the bottom line is "do you see/feel it?". For example, if you don't notice pet food just went up another 10% for the third time in the last year (like I did today) then no.. everything is just peachy.