What Recession? Fooey! (credit card debt, accounts, income, employees)

[charolastra00]

The economy isn't effecting everyone, but my family has been hit hard. My father lost his job of 1 year after having previously been unemployed for 5. We lived off of savings for those 5 years (all of my high school and my first year of college) but those are all gone. My brother and I are home for the summer and we are unable to find summer jobs because nothing is hiring. And I'm not talking about "desirable" jobs- I can't even get a job working in fast food despite being functionally bilingual. I got a call back from one of the 5 McDonalds I applied to who informed me that 200 people had applied for ONE position when they found out that I could only work for the summer. It's not worth it for businesses to train someone. My internship (along with the internships of many friends) was cut shortly before I returned home from abroad and my backup volunteer position could not schedule me in for training. That resulted in me losing the $3000 living grant I received from my university. I accrued some debt while abroad between high food costs and unexpected medical bills but expected to pay it off with the grant- now I can't even find babysitting work and since school is out, there isn't a real need for tutors.

Many of my college friends are in similar positions. Luckily they have the transportation and money to spend the summer taking extra classes- I don't have that luxury. Things are pretty bad when you can't even give away your free labor for basic training in a company or get a minimum wage job.

[Allan Trafton]

[quote=charolastra00;9648745] And I'm not talking about "desirable" jobs- I can't even get a job working in fast food despite being functionally bilingual. I got a call back from one of the 5 McDonalds I applied to who informed me that 200 people had applied for ONE position

This is shocking. What the hell are people going to do. We are going to have a permanent unemployed/underemployed class in the U.S. Many over 40 educated professional types will fall into this class also, not just the uneducated and lower class. There are not enough jobs to go around and there are no more bubbles to bail us out. I wouldn't be surprised to see this economic malaise last for a least a decade or more. Conventual wisdom told us for years that every generation will have it better then the previous one. Well nothing last forever and I'm afraid this generation hit the ceiling and is on the way down.

[charolastra00]

[quote=Allan Trafton;9650022]

Originally Posted by charolastra00

And I'm not talking about "desirable" jobs- I can't even get a job working in fast food despite being functionally bilingual. I got a call back from one of the 5 McDonalds I applied to who informed me that 200 people had applied for ONE position

This is shocking. What the hell are people going to do. We are going to have a permanent unemployed/underemployed class in the U.S. Many over 40 educated professional types will fall into this class also, not just the uneducated and lower class. There are not enough jobs to go around and there are no more bubbles to bail us out. I wouldn't be surprised to see this economic malaise last for a least a decade or more. Conventual wisdom told us for years that every generation will have it better then the previous one. Well nothing last forever and I'm afraid this generation hit the ceiling and is on the way down.

It's not this bad in all parts of the country and I'm fairly certain I could get a job if I wasn't home only for the summer. My town has the combined problem of a high amount of summer job seekers (very high college attendance for my age group and no community colleges mean many people return home from out of town) and many lay offs. I don't have any hard numbers for the layoffs, but I live in a high rent district with many people working in finance, computer companies, and other areas where there have been large cuts. Lots of houses with cars in the driveway now.

However, it is quite scary. I ran into debt because of health problems and a lack of kitchen equipment that I didn't budget for abroad, but I figured I could be like any other college student and work a minimum wage summer job to pay it off and save up for a car. However, if you're a college student (or high school student) who doesn't work seasonally for the same people every year, you're out of luck completely in my area. It's really horrifying that I don't know how I'm going to pay for my GRE, graduate school applications, or even my books for next semester.

[Rei]

I was only 15 when the Asian Economic crisis hit in 1997, and you call this current recession or depression hell? Make no mistake, it is bad, but the world's not coming to an end...
Even IF, and God I hope not, unemployment rate hits 25%, this is still nothing compared to the crisis I had experienced.

I'm still doing well despite the recession

Good for you. Be thankful...

[forest beekeeper]

Originally Posted by Rei

I was only 15 when the Asian Economic crisis hit in 1997, and you call this current recession or depression hell? Make no mistake, it is bad, but the world's not coming to an end ... Even IF, and God I hope not, unemployment rate hits 25%, this is still nothing compared to the crisis I had experienced.

I agree.

It seems that most Americans are very sheltered. So sheltered that they have not observed when true crisis happens elsewhere. So they have no basis from which to know if they are in a crisis.

I minor hiccup in the economy and many folks seem to think that a major calamity has occurred.

Yes, there are thousands of folks who have lost their jobs and their homes, living in tents. However compared to the millions we have in our nation, the homeless are a tiny percentage.

When 90% have no health care, and are unemployed, and 60% are homeless; then perhaps we can agree that things are beginning to bad.

10%, 20%, 30% are minor numbers.

[Allan Trafton]

Originally Posted by forest beekeeper

I agree.

It seems that most Americans are very sheltered. So sheltered that they have not observed when true crisis happens elsewhere. So they have no basis from which to know if they are in a crisis.

I minor hiccup in the economy and many folks seem to think that a major calamity has occurred.

Yes, there are thousands of folks who have lost their jobs and their homes, living in tents. However compared to the millions we have in our nation, the homeless are a tiny percentage.

When 90% have no health care, and are unemployed, and 60% are homeless; then perhaps we can agree that things are beginning to bad.

10%, 20%, 30% are minor numbers.

10% 20% 30% are not minor they are terrible. We judge ourselves higher than 3rd world Africa. At least I hope we do. When the numbers reach 90/60 like you mentioned above, then we are talking complete civil unrest and perhaps revolution.

[forest beekeeper]

Originally Posted by Allan Trafton

10% 20% 30% are not minor they are terrible. We judge ourselves higher than 3rd world Africa. At least I hope we do. When the numbers reach 90/60 like you mentioned above, then we are talking complete civil unrest and perhaps revolution.

You can judge anything you wish.

Any number less than 50% is a minority, any number greater than 50% is a majority. So long as only a minority of people are effected, then it is a minor issue.

When the majority of people are effected than it becomes a major issue.



Most Americans are very soft, sheltered and they like to belly-ache.

Most Americans today have never seen a true crisis in their life. Their puppy died, big deal. Most Americans have not lost their homes, or been in a firefight, ...

These things happen everyday though.



So far we have only seen a minor hiccup in the economy. I know that my investment portfolio has not been effected.

A very small percentage of Americans have lost their jobs and their homes.

I fully expect things here to get much worse.

When a simple clear majority have no health care, and are unemployed, and homeless; then perhaps we can agree that things are beginning to get bad.

[las vegas drunk]

Originally Posted by forest beekeeper

You can judge anything you wish.

Any number less than 50% is a minority, any number greater than 50% is a majority. So long as only a minority of people are effected, then it is a minor issue.

When the majority of people are effected than it becomes a major issue.



Most Americans are very soft, sheltered and they like to belly-ache.

Most Americans today have never seen a true crisis in their life. Their puppy died, big deal. Most Americans have not lost their homes, or been in a firefight, ...

These things happen everyday though.



So far we have only seen a minor hiccup in the economy. I know that my investment portfolio has not been effected.

A very small percentage of Americans have lost their jobs and their homes.

I fully expect things here to get much worse.

When a simple clear majority have no health care, and are unemployed, and homeless; then perhaps we can agree that things are beginning to get bad.

Unfortunately, it looks like things are heading that way though.

[tijlover]

Originally Posted by sheenie2000

Anyway, it's not good to be so arrogant, it might bite you in the butt later.

A butt bite wouldn't be nearly as painful as being bitten in the neck, or the wrist.

In this world today, even if I were Obama, I'd go to sleep at night, worrying if I had a job when I woke up the next morning.

And then! This person just might pick the wrong intersection to pass through on the way to or from work, and end up permanently unemployed, booming economy or bad economy!

Given the gist of this opening thread, I sense a lot of insecurity and fear with this individual.

[mysticaltyger]

Originally Posted by desertsun41

Um yes it is a deep depression. I beg of you not to listen to your govt. They lie even more than cops.

The news also likes to say recession but nothing can prove that.

Lets see what you say in short order as we fall even deeper towards hell.

I dont think we will see an end to whatever we want to call this economy in less then a dozen years but I hope I am wrong but I doubt it.

I wish ya luck anyway.

This is not a depression. Deep recession, yes. Depression, no. Americans don't really know what a true depression looks like. Most of the people who experienced the Great Depression are dead.

I will say, however, that unlike the Great Depression, we have a HUGE problem with paying for the cost of Social Security and Medicare for the Baby Boomers. That was simply not a problem back in the 1930s since SS had just been invented and Medicare didn't exist. I wonder if we wouldn't have been better off in the long run without both.