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Old 11-17-2008, 02:27 PM
 
Location: New Albany, Indiana (Greater Louisville)
11,974 posts, read 25,473,841 times
Reputation: 12187

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Consumer spending could plunge up to 15% btw Oct & Nov according to this article

http://www.startribune.com/business/34373544.html?elr=KArksLckD8EQDUoaEyqyP4OW3ckUiD 3aPc:_Yyc:aUnciatkEP7DhUsr

I wouldn't be surprised to see 700,000 more job loses in Nov and Dec
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Old 11-17-2008, 02:29 PM
 
Location: Chicago, IL
8,998 posts, read 14,786,757 times
Reputation: 3550
700,000?
I hope not.

As far as holiday shopping....yeah, I can see that.
I don't plan on buying a lot of gifts and I'm not asking for much. I feel pretty fourtunate right now. Anything else is just extra.
All my needs are taken care of and my wants are fulfilled slowly but surely.
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Old 11-17-2008, 02:32 PM
 
Location: Dallas
4,630 posts, read 10,475,582 times
Reputation: 3898
Black Christmas? Now that was a scary movie!

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Old 11-17-2008, 02:33 PM
 
1,597 posts, read 2,147,398 times
Reputation: 487
I can't afford to buy anyone anything this year, and I'm certainly not expecting anything for myself. I have a new grand-niece, and this will be her first Christmas. I'd rather they spend it on her instead. She alone is my gift this year....more precious than anything materialistic.
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Old 11-17-2008, 02:36 PM
 
3,150 posts, read 8,717,304 times
Reputation: 897
Obama is not change... this is REAL change. Americans will finally learn how to cherish things other than expensive sh*t from the mall like family time and Christmas oriented events. Hopefully once we our out of this mess people will never revert to maxing out the credit cards during holiday seasons. So far many have CHANGED their financial habits... really hope it sticks.
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Old 11-17-2008, 02:42 PM
 
Location: New Albany, Indiana (Greater Louisville)
11,974 posts, read 25,473,841 times
Reputation: 12187
Here is an article from today's Boston Globe: "What the Depression of 2009 could look like"

Lines at the ER, a television boom, emptying suburbs. A catastrophic economic downturn would feel nothing like the last one. - The Boston Globe
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Old 11-17-2008, 03:54 PM
 
1,658 posts, read 3,039,674 times
Reputation: 290
Quote:
Originally Posted by aquila View Post
I can't afford to buy anyone anything this year, and I'm certainly not expecting anything for myself. I have a new grand-niece, and this will be her first Christmas. I'd rather they spend it on her instead. She alone is my gift this year....more precious than anything materialistic.
You can tell your Grand-niece that while she was a baby, the world was gripped by a financial catastrophe. Make it a living legend kind of story and then give her the moral of the story: that she, as she gets older does her part to stop this happening again.
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Old 11-17-2008, 04:06 PM
 
Location: Wilmington, NC
8,577 posts, read 7,849,699 times
Reputation: 835
we certainly have allowed ourselves to be talked into quite the recession.
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Old 11-17-2008, 05:31 PM
 
1,597 posts, read 2,147,398 times
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Quote:
Originally Posted by Movie Lover View Post
You can tell your Grand-niece that while she was a baby, the world was gripped by a financial catastrophe. Make it a living legend kind of story and then give her the moral of the story: that she, as she gets older does her part to stop this happening again.
Nice idea. Hopefully the future will learn from our mistakes.

Quote:
Originally Posted by jmarquise View Post
we certainly have allowed ourselves to be talked into quite the recession.
I've actually thought that myself. I can't help but think if the damned media would stay quiet, maybe things wouldn't have gotten to where they are. I mean, the negativity could only serve to make people panic and stop spending, which in turn caused corporate profits to drop, which in turn translated into lost income leading to a cutback in production, which led to layoffs because less money was coming in, which led to higher unemployment rates, which caused people to not be able to make their mortgage payments resulting in foreclosures, which caused banks to start stumbling, which caused even MORE negative news stories, which caused even MORE people to panic, which has caused people to stop buying stuff, leading to more lost profits, and on and on and on.....
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Old 11-17-2008, 05:52 PM
 
Location: Wilmington, NC
8,577 posts, read 7,849,699 times
Reputation: 835
it's true. I think that with the value of the dollar globally, we were certainly headed for some sort of a recession, but it doesn't help to harp on it. it only makes people paranoid and fear for the worst. that is what the media did. if you tell yourself something enough, eventually you will start to believe it. like I said, an economic downturn was coming, but I don't think the media should have been posting picture of soup kitchens from 80 years ago. americans are impressionable.

Quote:
Originally Posted by aquila View Post
Nice idea. Hopefully the future will learn from our mistakes.



I've actually thought that myself. I can't help but think if the damned media would stay quiet, maybe things wouldn't have gotten to where they are. I mean, the negativity could only serve to make people panic and stop spending, which in turn caused corporate profits to drop, which in turn translated into lost income leading to a cutback in production, which led to layoffs because less money was coming in, which led to higher unemployment rates, which caused people to not be able to make their mortgage payments resulting in foreclosures, which caused banks to start stumbling, which caused even MORE negative news stories, which caused even MORE people to panic, which has caused people to stop buying stuff, leading to more lost profits, and on and on and on.....
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