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Old 03-12-2008, 06:26 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 22,515,609 times
Reputation: 3587

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The economy is not doing bad right now in most places. Some rust belt states like Michigan and Ohio are having hard times but down here in the south, we are going gangbusters. There is virtually zero unemployment here and businesses are begging for help. Instead of pandering to people in Michigan and Ohio, politicians would be much better served to tell them to move and to offer them relocation assistance to the south. We have 5 new car factories (1 GA, 1 AL, 1 SC and 2 in TN) under construction right now. They would love to hire experienced auto workers from Detroit. All they gotta do is make that move!
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Old 03-12-2008, 06:35 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 22,515,609 times
Reputation: 3587
Quote:
Originally Posted by mbuszu View Post
Depending upon what I read, I believe the economy can swing two ways right now - "not so bad" and "very bad." I am hopeful that things appear worse than they are however, and would like to think that the media is just whipping up a frenzy to sell their news.

The reasons for major concern are founded upon the notion that the US is not just facing one problem right now, but several all at once. It is the perfect storm scenario which is hard to ignore or deny.
#1 - major banking institutions have lent too much money to people who cannot pay the loans back
#2 - blue collar and white collar jobs are disappearing due to offshore outsourcing
#3 - the US Government has way overspent and the budget deficit is spiraling out of control
#4 - the US Government continues to print too much money causing inflation
#5 - the US trade imbalance with other countries is unhealthy and unsustainable
Number 4 is the most pressing issue. The Fed is printing money like newspaper! It is driving the value of the dollar down to Peso levels and inflation will be quite high quite soon I predict. I think we will see inflation of over 8% this year. They can say what they want but most of us know what a gallon of milk cost a year ago vs now.
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Old 03-12-2008, 09:40 PM
 
18 posts, read 16,950 times
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Quote:
Originally Posted by KevK View Post
The economy is not doing bad right now in most places. Some rust belt states like Michigan and Ohio are having hard times but down here in the south, we are going gangbusters. There is virtually zero unemployment here and businesses are begging for help. Instead of pandering to people in Michigan and Ohio, politicians would be much better served to tell them to move and to offer them relocation assistance to the south. We have 5 new car factories (1 GA, 1 AL, 1 SC and 2 in TN) under construction right now. They would love to hire experienced auto workers from Detroit. All they gotta do is make that move!

And take a massive cut in pay.

Jobs are meaningless if they don't offer and liveable wage and keep pace with the cost of housing.

In the south, Florida, GA and parts of TN are taking hard hits to both foreclosures and housing values.
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Old 03-13-2008, 04:49 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 22,515,609 times
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Quote:
Originally Posted by gideon76 View Post
And take a massive cut in pay.

Jobs are meaningless if they don't offer and liveable wage and keep pace with the cost of housing.

In the south, Florida, GA and parts of TN are taking hard hits to both foreclosures and housing values.
I don't know what they pay in Detroit but I would think that it probably cost less to live in west small town/rural Georgia as opposed to Detroit so there probably would be a difference but I am sure that they pay much better than unemployment does.
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Old 03-13-2008, 05:45 AM
 
1,831 posts, read 4,949,360 times
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Quote:
Originally Posted by KevK View Post
I don't know what they pay in Detroit but I would think that it probably cost less to live in west small town/rural Georgia as opposed to Detroit so there probably would be a difference but I am sure that they pay much better than unemployment does.
Are you sure they're going to be hiring that much? Because maybe you haven't noticed but ... auto sales are in the toilet right now.

I'm sure they'll be hiring eventually but ... right now the auto industry is in recession. Car sales were the first to get hit with the downturn.
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Old 03-13-2008, 05:47 AM
 
1,831 posts, read 4,949,360 times
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Yeah the economy IS really that bad BUT, believe it or not, this is a good thing.

We NEED this recession to clear out all of the debt fueled excess of the last seven years and get back to fundamentals.

Then the economy should bounce back better than ever.

However, I am concerned that the Fed will screw it all up by fueling runaway inflation.
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Old 03-13-2008, 02:12 PM
 
Location: Heartland Florida
9,324 posts, read 24,781,349 times
Reputation: 4969
I am also very afraid of inflation. Why can't we just get rid of the FED and have a commodity-based currency that encourages responsible saving? Why do we tolerate inflation at all, it's just a tax on the wage earners for the speculators!
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Old 03-13-2008, 03:24 PM
 
Location: Mesa, Az
21,146 posts, read 38,877,846 times
Reputation: 3830
Here in Arizona things are starting to show signs of becoming very grim soon.

On a personal level; I am already noticing the looming (present) recession.

Although; part of the downturn (job losses) is being masked by the mass exodus of illegal immigrants since our Employer Sanctions Law has been in effect.
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Old 03-13-2008, 03:26 PM
 
Location: Mesa, Az
21,146 posts, read 38,877,846 times
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Quote:
Originally Posted by gideon76 View Post
And take a massive cut in pay.

Jobs are meaningless if they don't offer and liveable wage and keep pace with the cost of housing.

In the south, Florida, GA and parts of TN are taking hard hits to both foreclosures and housing values.
Very true there my friend.

Wages in many Detroit area jobs are being cut from $28 to $14 an hour..........and, remember that housing in the Upper Midwest is not exactly expensive to begin with.
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Old 03-13-2008, 09:02 PM
 
Location: Great State of Texas
86,068 posts, read 77,076,503 times
Reputation: 27655
Food and gas prices are increasing faster than they did last year (thanks to the falling dollar). We import most of our goods now so we have to pay the price.
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