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View Poll Results: How many since the new year?
None 16 29.63%
1 to 4 23 42.59%
5 to 10 10 18.52%
more than 10 5 9.26%
Voters: 54. You may not vote on this poll

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Old 02-03-2009, 06:49 AM
 
Location: Seattle
635 posts, read 1,524,692 times
Reputation: 311

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I could have clicked more than 10 if you had said last year
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Old 02-03-2009, 07:03 AM
 
1,304 posts, read 3,868,864 times
Reputation: 663
In my circle of friends, no one is laid off ... YET, but hours have been reduced and bonuses have been reduced, and just yesterday, a base salary was cut! Anxious times for those trying to make do with less.
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Old 02-03-2009, 07:49 AM
 
1,800 posts, read 5,165,894 times
Reputation: 734
Actually, after this morning, I should have clicked "10 and up", unfortunately.
I think my friends in California and New Jersey are hurting in larger numbers than in NC.
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Old 02-03-2009, 08:10 AM
 
Location: State of Being
35,885 posts, read 67,046,730 times
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I wanted to comment on consumerism in this economic downfall. If you actually need to purchase something, yes - great time to buy it - lots of deals out there. But to be frank, I don't think the slow down in consumerism is even mostly due to media reports. I think that individual families are looking at their own situations and being extremely cautious about spending on anything not absolutely necessary. Yeah, if the clothes washer fails, then we have to go buy one . . . but I think people like me are deferring things that are not necessary. I had put aside money to put in can lights/recessed lighting in my kitchen and family room. I am putting that off. That would have given an electrician a boost to his salary! However, I am concerned about my business revenue - ciients are pulling back on projects. Hubby has a job but - is anyone really secure these days? That money I set aside is now switched to son's college fund - cause I have to know I can keep paying for his tuition and living expenses.

If you are out of work, no way you are gonna be purchasing anything. The concern becomes how to cut back! And then, there are always life's little emergencies. Used to be - we all thought - okay - we have six months $$ to get through this . . . but now we are not so sure - may take longer than six months and for some - that six month period has already come and gone.

So . . . I don't think this is being so much impacted by the media. I think each family has re-evaluated and even if people are currently employed, we are concerned what is on the horizon - and being very cautious.
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Old 02-03-2009, 10:01 AM
 
1,670 posts, read 5,800,298 times
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I know of more than 60 since the new year. If I took in last year, my count would be more than 140 people. Most of these cuts were in the finance and legal field all encompassing real estate.
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Old 02-03-2009, 10:05 AM
 
Location: in a house
3,574 posts, read 13,099,964 times
Reputation: 2340
Quote:
Originally Posted by marvinnative View Post
In my circle of friends, no one is laid off ... YET, but hours have been reduced ........., and just yesterday, a base salary was cut! Anxious times for those trying to make do with less.
Ditto in my circle of nurse friends, yet everyone thinks that healthcare is somehow immune from this downturn.....
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Old 02-03-2009, 10:14 AM
 
206 posts, read 453,480 times
Reputation: 90
Default Buy Stocks

Quote:
Originally Posted by Guy Fawkes View Post
Look a rant right in the middle of your poll!

I can't help but think that a lot of this economic down turn is self fulfilling prophecy. The media blasts this , then we get on this forum and post about who we know that got laid off. Then we put off purchases , sock it away in the savings account, look busy at work and hope its not us next.


I'm not saying everyone should go out and buy a new car right this instant. But, this is a buying opportunity. Our economy is driven by consumers. When we put of purchases we could have made we are not helping ourselves.

Go buy something.

Edit: I'm in sales , but don't sell cars. Just in case you wondered where I'm coming from.

In my book, the only thing we should be buying is stocks - huge sale and likely to appreciate. That's if you have the guts to do so. The guttsy will come out of this looking swell.
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Old 02-03-2009, 11:02 AM
 
129 posts, read 299,537 times
Reputation: 127
Quote:
Originally Posted by anifani821 View Post
I wanted to comment on consumerism in this economic downfall. If you actually need to purchase something, yes - great time to buy it - lots of deals out there. But to be frank, I don't think the slow down in consumerism is even mostly due to media reports. I think that individual families are looking at their own situations and being extremely cautious about spending on anything not absolutely necessary. Yeah, if the clothes washer fails, then we have to go buy one . . . but I think people like me are deferring things that are not necessary. I had put aside money to put in can lights/recessed lighting in my kitchen and family room. I am putting that off. That would have given an electrician a boost to his salary! However, I am concerned about my business revenue - ciients are pulling back on projects. Hubby has a job but - is anyone really secure these days? That money I set aside is now switched to son's college fund - cause I have to know I can keep paying for his tuition and living expenses.

If you are out of work, no way you are gonna be purchasing anything. The concern becomes how to cut back! And then, there are always life's little emergencies. Used to be - we all thought - okay - we have six months $$ to get through this . . . but now we are not so sure - may take longer than six months and for some - that six month period has already come and gone.

So . . . I don't think this is being so much impacted by the media. I think each family has re-evaluated and even if people are currently employed, we are concerned what is on the horizon - and being very cautious.
I have to admit, I did think that I would get a reply like this. And I do think its a valid position. However, much of what we think we know, is hear say from the media. Maybe I'm a bit of a conspiracy theorist , which is not the right term strictly speaking, but rather this is a case of "group think".

You hear Home Depot lays off 7,000 people. You think "Holy Crap, that's bad news bears. And it is for a lot of people. But the impact of the story on your outlook is greater then the financial repercussions for many.

I'm afraid fear mongering for politics and media ratings has created as much of a slow down as market forces.
Respectfully,
GF
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Old 02-03-2009, 12:45 PM
 
Location: Mint Hill, NC
769 posts, read 1,981,157 times
Reputation: 450
Quote:
Originally Posted by Guy Fawkes View Post
But the impact of the story on your outlook is greater then the financial repercussions for many.

I'm afraid fear mongering for politics and media ratings has created as much of a slow down as market forces.
Respectfully,
GF
Unfortunately, at this point, the "many" is poorly defined. I've been listening all morning to people who just became a part of the "few" that are suffering the repercussions, and they didn't know they would be until this morning. As long as that uncertainty remains, most people are going to be preparing for the worst.
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Old 02-03-2009, 12:48 PM
 
Location: Ayrsley
4,714 posts, read 8,462,555 times
Reputation: 3814
Quote:
Originally Posted by anifani821 View Post
The concern becomes how to cut back! And then, there are always life's little emergencies. Used to be - we all thought - okay - we have six months $$ to get through this . . . but now we are not so sure - may take longer than six months and for some - that six month period has already come and gone.

So . . . I don't think this is being so much impacted by the media. I think each family has re-evaluated and even if people are currently employed, we are concerned what is on the horizon - and being very cautious.
I agree with some here that it is a buyer's market right now - lots of bargains to be had (both in goods and in the stock market). But at the same time, to piggy-back onto Ani's post, even if you are ok job-wise right now...you start to wonder if that "six months" in the bank (if you're lucky enough to have that to begin with) is enough of a potential safety net.
And so you start spending less and saving more.

And it becomes a vicious circle. If, by and large, people are spending less, then companies are making less money, leading to layoffs, leading to more people without income to put back into the economy.
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