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Old 12-04-2008, 11:00 PM
 
Location: Tucson/Nogales
16,491 posts, read 20,032,558 times
Reputation: 22435

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I've been through 4 other economic recessions, the first one in the 70's I never forgot (so bad at one point I couldn't even find a dishwasher job through a job agency) but foolishly thought, being in my early 20's, another one would never happen. Wrong! Then there was the early 80's recession. Then after reading more of my history, I thought it would be wise after the 2nd one to save more money during the expected good times, knowing full well there'd be another recession down the road. Now after two more of them, I got really wise, and stockpiled enough money so when the next one occurred, I'd not only be prepared, but I would actually enjoy it and I am. When I read of these people in the daily newspapers who are profiled who are out of work, wishing and praying that they hadn't foolishly spent money on this or that during the good times and saved more of their money, my sympathy doesn't go to those old enough to have been through 3-4 recessions, but to the new younger ones who may have never been through one before. Hopefully, they will gain some wisdom through this and when the next one or the one after that occurs, they, too, will find some enjoyment in it.
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Old 12-05-2008, 07:01 AM
 
464 posts, read 1,480,322 times
Reputation: 208
The only benefit for me personally from this recession, is that recently i was able to purchase my future retirement home in Florida at a silly cheap price, with it being a Buyers Market. One thing i am glad about, is that i listened to my Parents on the importance of building up a Savings Account and living modestly thruout my life. Its a buffer in times of economic woes ..albiet, not the American way.
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Old 12-05-2008, 07:35 AM
 
26,589 posts, read 52,986,993 times
Reputation: 12963
I've been able to get additional allocations and futures of list only wines, and even first growth Mouton has fallen in average price in the past six months. If only Screagle would drop, life would be grand!

They must be drinking PBR on Wall Street these days.

I've lived below my means in order to have savings to get me through any tough times, and to be able to pounch on great deals when they happen.
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Old 12-05-2008, 01:43 PM
 
Location: Portland, Oregon
7,091 posts, read 10,493,331 times
Reputation: 4104
My wife and I's circumstances have actually improved astonishingly in the last 3 years, until just this month, so we have been enjoying the lowering of gas prices and goods. I've been jumping on goods I haven't been able to afford, and buying funds that have dropped 40% or more.
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Old 12-05-2008, 01:45 PM
 
Location: lumberton, texas
652 posts, read 2,412,774 times
Reputation: 253
I wouldnt say I am "enjoying it" but I definetly dont stress. Although I have been having many dreams of a house full of family members with no job.

We are fortunate that DH has a good govt job that there is no possibility of a lay off. I can remember when people would ridicule him for not being a contractor. He could have made a lot more money. We also have no debt including the house. Although I recently made a big car purchase so I cannot go out and spend a ton of money on all this cheap stuff I am seeing.
I saw some adds with extremely cheap jewlry it is sad I cant buy it at that price but I would rather have my car.
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Old 12-05-2008, 01:53 PM
 
48,519 posts, read 81,086,895 times
Reputation: 17978
I never enjoy6 watching others suffer. But so far thsi recession isn't anyhtign like the 70's or 80's where I live. Especailly the very high inflation and unemloymant of the 70's recession. That took like 20 years as inductry in thios area slowly recovered. But as a aside the peole in thsi area never went crazy spending and the home values never went crazy either. As a result there have been few forclosures related to thsi recession so far. From what I have seen many areas are not in a offical recessio0n while toher are in a very bad recession that dirve the overall economy into recessionnmbers.I think thsoe areas have been in a decline for decdes now except ofr many areas like californai;florida and nevada.Those have been in a inflated bubble in housing for sometime tho.
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Old 12-07-2008, 03:47 AM
 
Location: Florida
18,298 posts, read 18,560,123 times
Reputation: 21014
Quote:
Originally Posted by emailvasally View Post
IAlthough I have been having many dreams of a house full of family members with no job.

.
We've been having the same....dream ....or is it nightmare?
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Old 12-07-2008, 08:39 AM
 
Location: Orlando, Florida
43,858 posts, read 43,585,576 times
Reputation: 58603
I am making more money and buying more stuff than I ever have in my whole life....and I'm 50. I do understand there are lots of people out there who are without jobs, but the internet and local newspapers are full of jobs. Why don't they at least take SOMETHING? I took a little part time job that ended up giving me full time employment with the same company at a great wage rate. So, I really mean it when I say people need to quit whining and get out there determined to find some sort of work.
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Old 12-07-2008, 08:41 AM
 
Location: Orlando, Florida
43,858 posts, read 43,585,576 times
Reputation: 58603
Quote:
Originally Posted by HowDeDo View Post
The only benefit for me personally from this recession, is that recently i was able to purchase my future retirement home in Florida at a silly cheap price, with it being a Buyers Market. One thing i am glad about, is that i listened to my Parents on the importance of building up a Savings Account and living modestly thruout my life. Its a buffer in times of economic woes ..albiet, not the American way.
Welcome to Florida! You are right, there are incredible home purchasing deals here that can easily be obtained if a person SAVED a little during their lifetime instead of squandering it all away.
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Old 12-08-2008, 04:15 AM
 
90 posts, read 285,913 times
Reputation: 75
I think the recession is over hyped in a 24 hour news cycle. It was much worse in the economic downturns of the 70s and early 1980s. The main people affected by this recession are ones in financial services, banks, manufacturing and construction. Most of the pain is in a handful of states.

The main advantage of this recession is falling prices for consumers which of course has problems for businesses.
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