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Author Topic: The Economic Downturn..  (Read 116264 times)

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Offline Thrifty

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Re: The Economic Downturn..
« Reply #465 on: August 10, 2011, 01:25:35 PM »
FYI, there's more to the economy than the Dow.  Like I said, the DJIA presents a very narrow view of the economy.  I can see being worried about it if you're a stock broker or something like that which works directly in the financial field, or if you have a lot of stock holdings.  But the histrionic reports about the turbulent market over these past two weeks seem to be making a mountain out of a molehill.

I kinda like this story:

Confidence in Obama’s Economy Rising for Frustrated Employees -- the gist of the article being that more people are voluntarily quitting jobs they are fed up with, a sign that they feel more confident in their abilities to get new jobs.


Danecho1967

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Re: The Economic Downturn..
« Reply #466 on: August 10, 2011, 02:12:26 PM »
Confidence in Obama’s Economy Rising for Frustrated Employees -- the gist of the article being that more people are voluntarily quitting jobs they are fed up with, a sign that they feel more confident in their abilities to get new jobs.
I wish them luck.  Myself, I always follow my father's advice on that sort of thing.  "Never leave a job unless you have another one lined up."  He was pretty old-school in his thinking.  I guess I am too.


Offline Thrifty

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Re: The Economic Downturn..
« Reply #467 on: August 10, 2011, 02:22:51 PM »
Confidence in Obama’s Economy Rising for Frustrated Employees -- the gist of the article being that more people are voluntarily quitting jobs they are fed up with, a sign that they feel more confident in their abilities to get new jobs.
I wish them luck.  Myself, I always follow my father's advice on that sort of thing.  "Never leave a job unless you have another one lined up."  He was pretty old-school in his thinking.  I guess I am too.
Me too.  That just seems like common sense.  I watched an episode of Modern Family where one of the characters quit his job in a huff, and I'm thinking "Are you out of your mind?"

But of course, this being a sitcom, he coasted through a few months of unemployment with no hardship, then got a new job.

I quit a job in September of 2004, with no new job lined up, and then spent 2 years moving between unemployment and underemployment.

Of course, I'm kinda sorta doing the same thing next month, when my contract at work ends, since I haven't really been making any effort to find new work.  On the other hand, I have sufficient funds to go without working for at least a year and a half before getting into any financial trouble.  And that's without going into debt (I am currently debt free after paying down $32,000 in debt this past February).


Doctor Who?

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Re: The Economic Downturn..
« Reply #468 on: August 10, 2011, 02:39:28 PM »
Confidence in Obama’s Economy Rising for Frustrated Employees -- the gist of the article being that more people are voluntarily quitting jobs they are fed up with, a sign that they feel more confident in their abilities to get new jobs.
I wish them luck.  Myself, I always follow my father's advice on that sort of thing.  "Never leave a job unless you have another one lined up."  He was pretty old-school in his thinking.  I guess I am too.
Me too.  That just seems like common sense.  I watched an episode of Modern Family where one of the characters quit his job in a huff, and I'm thinking "Are you out of your mind?"

But of course, this being a sitcom, he coasted through a few months of unemployment with no hardship, then got a new job.

I quit a job in September of 2004, with no new job lined up, and then spent 2 years moving between unemployment and underemployment.



Yeah i got into a fight with my boss in 2008 and ended up losing my job(I am still not sure if I am down on the paper work as quitting or fired)and I only just started working again 3 months ago.  I will never get into a fight with my boss before i have found a new job again.


Offline Thrifty

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Re: The Economic Downturn..
« Reply #469 on: August 10, 2011, 02:48:35 PM »
Confidence in Obama’s Economy Rising for Frustrated Employees -- the gist of the article being that more people are voluntarily quitting jobs they are fed up with, a sign that they feel more confident in their abilities to get new jobs.
I wish them luck.  Myself, I always follow my father's advice on that sort of thing.  "Never leave a job unless you have another one lined up."  He was pretty old-school in his thinking.  I guess I am too.
Me too.  That just seems like common sense.  I watched an episode of Modern Family where one of the characters quit his job in a huff, and I'm thinking "Are you out of your mind?"

But of course, this being a sitcom, he coasted through a few months of unemployment with no hardship, then got a new job.

I quit a job in September of 2004, with no new job lined up, and then spent 2 years moving between unemployment and underemployment.



Yeah i got into a fight with my boss in 2008 and ended up losing my job(I am still not sure if I am down on the paper work as quitting or fired)and I only just started working again 3 months ago.  I will never get into a fight with my boss before i have found a new job again.
Oh there was no fight.  It was very amicable.  He bought me lunch, and I explained to him that I felt that I was in over my head, that I didn't feel I was qualified for the job, and that I felt the right thing to do was to tender my resignation.  He then convinced me to stay 5 weeks instead of the customary 2.  He still tells people that I was a great employee who was committed to figuring out how to get things done, though I disagree with that characterization.  I had to quit that job, I was just terribly incompetent.


Doctor Who?

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Re: The Economic Downturn..
« Reply #470 on: August 10, 2011, 03:20:51 PM »
Confidence in Obama’s Economy Rising for Frustrated Employees -- the gist of the article being that more people are voluntarily quitting jobs they are fed up with, a sign that they feel more confident in their abilities to get new jobs.
I wish them luck.  Myself, I always follow my father's advice on that sort of thing.  "Never leave a job unless you have another one lined up."  He was pretty old-school in his thinking.  I guess I am too.
Me too.  That just seems like common sense.  I watched an episode of Modern Family where one of the characters quit his job in a huff, and I'm thinking "Are you out of your mind?"

But of course, this being a sitcom, he coasted through a few months of unemployment with no hardship, then got a new job.

I quit a job in September of 2004, with no new job lined up, and then spent 2 years moving between unemployment and underemployment.



Yeah i got into a fight with my boss in 2008 and ended up losing my job(I am still not sure if I am down on the paper work as quitting or fired)and I only just started working again 3 months ago.  I will never get into a fight with my boss before i have found a new job again.
Oh there was no fight.  It was very amicable.  He bought me lunch, and I explained to him that I felt that I was in over my head, that I didn't feel I was qualified for the job, and that I felt the right thing to do was to tender my resignation.  He then convinced me to stay 5 weeks instead of the customary 2.  He still tells people that I was a great employee who was committed to figuring out how to get things done, though I disagree with that characterization.  I had to quit that job, I was just terribly incompetent.

I just got sick of getting of getting written up for the screw ups of a guy who was hitting on her(my boss)and one day when I was low on sleep and she started the same old thing I told her how sick I was.  Well there was no way I could ever work at that Wal mart again.


Doctor Who?

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Re: The Economic Downturn..
« Reply #471 on: August 11, 2011, 04:54:09 AM »
I am not stupid.  The rich will have all their money stored away somewhere it doesn't get hit by this.  Working class people are the ones who lose their homes and end up starving on the streets.  This is not good for them.


Offline Thrifty

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Re: The Economic Downturn..
« Reply #472 on: August 11, 2011, 07:13:01 AM »
I am not stupid.  The rich will have all their money stored away somewhere it doesn't get hit by this.  Working class people are the ones who lose their homes and end up starving on the streets.  This is not good for them.

Not really.  A lot of the wealth of the upper class is tied to stocks, bonds, futures, and other securities.  They have a lot more to lose during a stock market crash than average joes who keep most of their money in FDIC insured bank accounts.

Though I guess you're partially right.  A stock market crash generally does have ripple effects that are gonna hit the lower and middle class too.  Still, I think the events we're seeing this week and last are of the kind that only directly affect those deeply embedded in the stock market.  The economic news as it pertains to us regular Joes is pretty positive.
« Last Edit: August 11, 2011, 07:38:23 AM by Thrifty "Seventy One Sheds" Jackson »


Offline sarcasm_made_Easy

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Re: The Economic Downturn..
« Reply #473 on: August 11, 2011, 10:14:32 AM »
Quote
The economic news as it pertains to us regular Joes is pretty positive

Uh how so?   I havent seen ANYTHING positive.  It gets far worse when you factor in my job particularly.


Offline Thrifty

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Re: The Economic Downturn..
« Reply #474 on: August 11, 2011, 10:19:20 AM »
Quote
The economic news as it pertains to us regular Joes is pretty positive

Uh how so?   I havent seen ANYTHING positive.  It gets far worse when you factor in my job particularly.
Better than expected report in job growth, more employees voluntarily quitting jobs they hate (indicates greater confidence in the ability to find new work).  There was one other thing, but I can't remember what it was.

Maybe not sterling, but still better than news of sinking stock markets and sovereign credit downgrades would have you believe.


Offline sarcasm_made_Easy

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Re: The Economic Downturn..
« Reply #475 on: August 11, 2011, 10:24:56 AM »
Maybe so but those are just blips.  Currently those things are trending downward and have been for months.  When they begin trending up (however slightly) ill join you but i dont think a few reports in the positive favor equal we are doing better.  But i do get your point. 


Danecho1967

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Re: The Economic Downturn..
« Reply #476 on: August 11, 2011, 10:35:37 AM »
I am not stupid.  The rich will have all their money stored away somewhere it doesn't get hit by this.  Working class people are the ones who lose their homes and end up starving on the streets.  This is not good for them.
You know the stories of people on Wall Street committing suicide when the stock market crashed in 1928?  Although there weren't as many suicides as some might think, they did happen.  The reason is, the more invested in the market a person is, the worse a crash hurts them.  As individuals, the rich tend to be more heavily invested than middle class individuals.  A bad crash of the right stocks could take a person from being worth a ton of money to being broke and heavily indebted very quickly.

Middle class people got hit hard in the great depression because the money they had in the bank was also tied up in the stock market, because banks invest peoples money and pass some of the dividends on in interest.  FDIC and other safeguards are intended to minimize those effects should we find ourselves in a similar situation again.  (Assuming they are funded.)

In the end, the belief that rich people just have money sitting around waiting for them if things get tough is largely a false belief.


Offline Thrifty

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Re: The Economic Downturn..
« Reply #477 on: August 11, 2011, 10:49:04 AM »
Maybe so but those are just blips.  Currently those things are trending downward and have been for months.  When they begin trending up (however slightly) ill join you but i dont think a few reports in the positive favor equal we are doing better.  But i do get your point. 

Well we've been out of a recession for 2 years.  Growth is sluggish, but, it seems, stable.


Offline Thrifty

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Re: The Economic Downturn..
« Reply #478 on: August 11, 2011, 10:52:25 AM »

Middle class people got hit hard in the great depression because the money they had in the bank was also tied up in the stock market, because banks invest peoples money and pass some of the dividends on in interest.  FDIC and other safeguards are intended to minimize those effects should we find ourselves in a similar situation again.  (Assuming they are funded.)

What happened to individual savings accounts during the Depression just blows my mind.  Can you imagine all of YOUR money, which you never took any risks with, being gone because the business you entrusted it to lost it?  I have about $5000 to my name, in a Wells Fargo checking account.  No stocks, no futures, no investments of any kind.  I feel comforted knowing that even if Wells Fargo went completely bankrupt tommorrow, my $5000 would still be mine.


Offline Tripe

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Re: The Economic Downturn..
« Reply #479 on: August 11, 2011, 10:54:34 AM »
And that's why I think the 401K was such a pig in a poke.