A Depression not a Recession ~ In NEPA too? (Scranton, York: 2010, apartment)

[mathjak107]

been getting my butt kicked like everyone else.... thankfully because we satrted re-arrainging things before the plunge because we knew we wanted to retire very early we were only 40% invested so although we are down 50% or so we wont need that dough for 20 years or so even if we retire

on the positive front we had 2 co-ops in our central park building up for sale since october...we sold 1 friday and closed and have another set to close in april

getting closer to being full time nepa bums

[lialleycat]

Originally Posted by ScranBarre

Yes. I officially have the offer to relocate to the Dulles Airport area in NoVA, and I've accepted. Driving isn't a big hassle for me. I'd be about four hours from NEPA living in the DC area. I just drove about 4.5 hours each way on Wednesday and Thursday to Pittsburgh, and it didn't bother me one bit.

CONGRATULATIONS!!!!!!!!!!!!

I'm so happy for you! This is going to be great for you, I just know it! Maybe I'll be next.

[Summering]

Oh won't that be fun. To hear all the new tales of the Washington, DC area.......and VA.
I bet this will be a great job, in an exciting area. I think our ScranBarre has done the right move...
Just what he will do with his name on CD, I have no idea. Because I think last time it was the final choice. LOL.......Thats ok, the name is you anyhow.
I met someone who grew up in Wilkes Barre and lives down here ( Myrtle Beach) just yesterday........I met a salesman who likes the Giants team. Sometimes the places and things we hold dear, follow us .....just to keep our hearts warm.

[Summering]

Originally Posted by mathjak107

been getting my butt kicked like everyone else.... thankfully because we satrted re-arrainging things before the plunge because we knew we wanted to retire very early we were only 40% invested so although we are down 50% or so we wont need that dough for 20 years or so even if we retire

on the positive front we had 2 co-ops in our central park building up for sale since october...we sold 1 friday and closed and have another set to close in april

getting closer to being full time nepa bums

Yep, we got our butts kicked too Mathjak............
But, hummmmmm........I am wishing I had a central park building co-op to sell. Maybe if I wish hard enough........
That was wonderful to hear in the mist of all the doom...........

[dansdrive]

The words are purely relative. There are specific definitions for recessions and depressions but here is the real test.

Recession: Your hours worked are reduced, you can make payments for basics but its getting tougher and tougher.

Depression: You and/or your spouse both lost your jobs, you can't make your mortgage payments anymore, your phone/cable/utility bills are back up a couple of months. You don't qualify for the Mortgage assistance program. Unemployment is just enough to feed you and your family leaving nothing else left.

So what each considers is recession or depression depends more on what your person situation is than what the major news agency's or our Federal Government tells us we are in.

The economic condition is getting worse by the day and this will run its coarse too and things will turn around at some point. How many that fit into each of the above categories will determine how severe this will get. At the moment the best we can do is save all we can as the rainy days we all heard about are upon all of us. Good luck to everyone in the coming days and months during this crisis.

[lialleycat]

Saw this today in my recipezine and thought I'd share it here...

The Wine and Beer Financial Crisis Explained in Simple Terms
Heidi is the proprietor of a bar in Berlin. In order to increase sales, she decides to allow her loyal customers - most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans). Word gets around and as a result increasing numbers of customers flood into Heidi's bar.

Taking advantage of her customers' freedom from immediate payment constraints, Heidi increases her prices for wine and beer, the most-consumed beverages. Her sales volume increases massively.

A young and dynamic customer service consultant at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit. He sees no reason for undue concern since he has the debts of the alcoholics as collateral.

At the bank's corporate headquarters, expert bankers transform these customer assets into DRINKBONDS, ALKBONDS and PUKEBONDS. These securities are then traded on markets worldwide. No one really understands what these abbreviations mean and how the securities are guaranteed. Nevertheless, as their prices continuously climb, the securities become top-selling items.

One day, although the prices are still climbing, a risk manager (subsequently fired due his negativity, of course) of the bank decides that the time has come to demand payment of the debts incurred by the drinkers at Heidi's bar. However they cannot pay back the debts. Heidi cannot fulfill her loan obligations and claims bankruptcy.
DRINKBOND and ALKBOND drop in price by 95%. PUKEBOND performs better, stabilizing in price after dropping by 80%.

The suppliers of Heidi's bar, having granted her generous payment due dates and having invested in the securities, are faced with a new situation. Her wine supplier claims bankruptcy, and her beer supplier is taken over by a competitor. The bank is saved by the Government following dramatic round-the-clock consultations by leaders from the governing political parties.

The funds required for this purpose are obtained by a tax levied on the non-drinkers.

[ScranBarre]

Originally Posted by lialleycat

CONGRATULATIONS!!!!!!!!!!!!

I'm so happy for you! This is going to be great for you, I just know it! Maybe I'll be next.

Originally Posted by Summering

Oh won't that be fun. To hear all the new tales of the Washington, DC area.......and VA.
I bet this will be a great job, in an exciting area. I think our ScranBarre has done the right move...
Just what he will do with his name on CD, I have no idea. Because I think last time it was the final choice. LOL.......Thats ok, the name is you anyhow.
I met someone who grew up in Wilkes Barre and lives down here ( Myrtle Beach) just yesterday........I met a salesman who likes the Giants team. Sometimes the places and things we hold dear, follow us .....just to keep our hearts warm.

AlleyCat, good things come to those who wait. Trust me on that one! I was feeling very depressed on my ride home from Pittsburgh on Thursday, feeling like a complete and miserable failure in life, only to discover my job offer the very next day. I suppose God works in mysterious ways.

Summering, you're right. Markablue told me "NO NAME FOR YOU!!!" (to parody the Soup Nazi from Seinfeld) when I wanted to change my name from ScranBarre to Scrantastic, but perhaps when I finally get to NoVA she'll make one final exception so that my user name doesn't seem out of place (Potomac Paul, perhaps?!) You can take the guy out of the valley, but you can't take the valley out of the "Valley Guy!" LOL!

[lialleycat]

Originally Posted by ScranBarre

AlleyCat, good things come to those who wait. Trust me on that one! I was feeling very depressed on my ride home from Pittsburgh on Thursday, feeling like a complete and miserable failure in life, only to discover my job offer the very next day. I suppose God works in mysterious ways.

Summering, you're right. Markablue told me "NO NAME FOR YOU!!!" (to parody the Soup Nazi from Seinfeld) when I wanted to change my name from ScranBarre to Scrantastic, but perhaps when I finally get to NoVA she'll make one final exception so that my user name doesn't seem out of place (Potomac Paul, perhaps?!) You can take the guy out of the valley, but you can't take the valley out of the "Valley Guy!" LOL!

I keep hoping that something will happen soon. I'm tired of struggling and would like to move to a place where I can live and have a life. I'm hoping you set off one of those 'good things come in three's' things!

Maybe your new name should be "NoName4U"

[ScranBarre]

Originally Posted by lialleycat

I keep hoping that something will happen soon. I'm tired of struggling and would like to move to a place where I can live and have a life. I'm hoping you set off one of those 'good things come in three's' things!

Maybe your new name should be "NoName4U"

I'll keep pulling for you! I think "DunderMifflinFairfax" has a nice ring to it!

[lialleycat]

Originally Posted by ScranBarre

I'll keep pulling for you! I think "DunderMifflinFairfax" has a nice ring to it!

Sounds like a disease. One that makes you itchy in the wrong places!