The Recession may be over (post #326)- part X

[Sean O'Hara]

Originally Posted by foggy

It must be pretty easy to be flip and cavalier about other people's problems when your spouse works for the government and has free or nearly free health insurance and a guaranteed pension.

If being competitive in the marketplace is the only consideration, why not abolish OSHA and the EPA and allow slave labor. Those would all save on costs. I personally think that a 401(k) is a viable vehicle for retirement savings, but only on a supplemental basis.

[Dr Mabuse]

Originally Posted by kvrdave

It is a different world today, man. Because of how expensive pensions have become and how they are getting close to bankrupting states, they have been retooled several times. As a result, my wife's "guaranteed pension" is nearly nothing and employees are forced to also put 5-15% of their check into their own retirement. The result is that my wife only gets out what she puts in and the state puts up $354 a month towards her retirement on a salary of about $50,000. It is less than a ROTH would be.

As for nearly free health insurance, we have $628 per month taken out.

The state isn't going to take card of you kvr, you have to go out and do that for yourself.

[kvrdave]

Originally Posted by Dr Mabuse

The state isn't going to take card of you kvr, you have to go out and do that for yourself.

I absolutely agree, nor do I want them to take care of me. When I hear teachers complain about how much is taken out for health care I think, "Damn, look at how much it would cost if you went out and bought your own. It would be twice that. You ought to be happy they give anything."

I don't mind taking any benefit they give, but I don't count on any of it, nor do I believe I have some entitlement to it (other than what is specified in the contract).

But I will admit that being self employed gives you a different perspective than most on what the government needs to do for you.

[wabio]

Interesting look at the state of the economy from an article written last month.

http://a.abcnews.com/Business/Econom...6999494&page=1

[orangecrush]

I am calling shenanigans or a major typo on the following numbers:

Money Loaned for Mortgages $2.7 Billion $2.3 Billion $1.7 Billion

[Pharoh]

Paradigm shareholder shift imminent?

[Pharoh]

We'll have to wait to find out.

[kvrdave]

Originally Posted by Pharoh

Paradigm shareholder shift imminent?

Damn close to filling my card.

[Pharoh]

Originally Posted by kvrdave

Damn close to filling my card.

Happy to oblige. I also use monetise frequently here as well, though I do spell it correctly.

[Dr Mabuse]

Originally Posted by Pharoh

Happy to oblige. I also use monetise frequently here as well, though I do spell it correctly.

No, you don't.

[wishbone]

Originally Posted by Pharoh

Happy to oblige. I also use monetise frequently here as well, though I do spell it correctly.

Originally Posted by Dr Mabuse

No, you don't.

Pharoh has a pass per cman.

[Pharoh]

Originally Posted by Pharoh

Paradigm shareholder shift imminent?

Could be underway. Lewis out as Chairman.

[Pharoh]

Originally Posted by wishbone

Pharoh has a pass per cman.

Thank You.

[tommy28]

Fed says U.S. recession appears to be easing


http://news.yahoo.com/s/nm/20090429/bs_nm/us_usa_fed_6

[Dr Mabuse]

Has the lack of spending even settled in on this spending economy?

The credit defaults and auto defaults?

I've seen 'we're coming out of this!' since last fall.

I don't see it.

[orangecrush]

Originally Posted by Dr Mabuse

Has the lack of spending even settled in on this spending economy?

The credit defaults and auto defaults?

I've seen 'we're coming out of this!' since last fall.

I don't see it.

That's because you don't want to see it

[Tracer Bullet]

Originally Posted by Dr Mabuse

Has the lack of spending even settled in on this spending economy?

The credit defaults and auto defaults?

I've seen 'we're coming out of this!' since last fall.

I don't see it.

I don't either.

[slop101]

Originally Posted by Dr Mabuse

Has the lack of spending even settled in on this spending economy?

Yeah, it settled in for our company a few months ago (though we've rebounded a small bit just recently).

The credit defaults and auto defaults?

There's less of them now than there were a few months ago.

I've seen 'we're coming out of this!' since last fall.

I don't see it.

I didn't before, but I'm just beginning to see the first initial signs right about now. But it'll probably take at least another year.

[kvrdave]

Originally Posted by Dr Mabuse

Has the lack of spending even settled in on this spending economy?

The credit defaults and auto defaults?

I've seen 'we're coming out of this!' since last fall.

I don't see it.

I've wondered as well. I know that in my state and Oregon, there are about to be massive RIFs (reduction in force) for schools. Those numbers won't hit until after summer on the unemployment. I would guess that this is common for all 50 states as sales tax and income tax and real estate excise taxes are taking a huge hit. Budgets now being done for the rest of state government will require reduction in force for other areas as well. But being that they budget the way they do, this is a delayed (but huge) bomb waiting to drop.

In my own district, we saw the Gov's proposed budget. Then we saw the Senate's. Then we saw the House's. They finally got them all together and the end result was a larger budget cut than any of their individual budgets. First time I have ever seen that. But expect the same on the county level and the city level. We have such a huge government as employer in this nation (and ones that don't get to print their own money) that I now expect us to take another tailspin after the summer. This recent wallstreet rally will likely come to an end soon, I think.

And I'm generally a bull on these kinds of things.

[CRM114]

Our district's finance were dire but have been saved by the federal stimulus. Minimal tax increase, minimal layoffs.

[Dr Mabuse]

Unemployment hasn't even settled in.

The credit card storm has not hit yet, but it's coming. Their defaults are just not being discussed for some reason, but the are huge and going to get worse as the real unemployment that is still staggering settles in on the economy.

I still think the spending has not really settled in on this economy. Some of that is due to 'credit card living' that will be a part of with storm in the credit card industry when the chickens come home to roost. When the card are maxed and the unemployment remains and people default at unprecedented rates. Understand, the CC companies' predatory lending practices are about to bite them in the ass.

The promise to forgive defaults in the auto industry has sparked sales. Think about that, really think about it. An open advertising campaign saying "Good chance you're not gonna be able to pay, we know that, just buy something anyway" and people are trying to call that a return to car buying on the 'financial expert' networks. I saw the 'experts' on CNBC saying the auto industry was becoming confident they had realized the bottom and were starting back up.

It's hilarious, some of this stuff from the morons, I mean 'experts', that is being pushed out.

[kvrdave]

Originally Posted by CRM114

Our district's finance were dire but have been saved by the federal stimulus.

Pay me now or pay me later. If the new shift is to simply print money for the government entities that can't so they can just keep spending, it gets worse in the long term and not better.

[classicman2]

I don't have to worry about the recession any longer. I'm going to receive my 'stimulus check' of $250.00 later this month.

I'm torn on how I should spend it.

[wendersfan]

Originally Posted by classicman2

I don't have to worry about the recession any longer. I'm going to receive my 'stimulus check' of $250.00 later this month.

I'm torn on how I should spend it.

[kvrdave]

Originally Posted by classicman2

I don't have to worry about the recession any longer. I'm going to receive my 'stimulus check' of $250.00 later this month.

I'm torn on how I should spend it.

What's this for?