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Old 12-17-2008, 08:41 AM
 
Location: Los Angeles Area
3,306 posts, read 3,558,423 times
Reputation: 592

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Quote:
Originally Posted by chet everett View Post
George HW Walker Bush ushered in the Free Masons from Skull & Bones, right?

Obama is just the latest to carry the torch.

Come on. You really believe that the policies of government and the banking system are shaped by "dark forces"?
Did you forgot those meds again? Nobody mentioned any of this stuff....

You have some sort of odd need to try and mock people that claim that the current recession is going to be bad. Could it be that the markets are stripping you of your pseudo-wealth?
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Old 12-17-2008, 08:55 AM
 
Location: Wouldn't you like to know?
9,114 posts, read 15,967,950 times
Reputation: 3698
Quote:
Originally Posted by himain View Post
I may be completely wrong but does anyone else think that the media, all outlets together, is blowing this up completely so people panic therefore setting off a tremendous downward spiral???? I was listening to talk radio this morning and the guy on was basically saying the world is coming to an end and people will be living/starving in the streets, etc. I mean I totally don't see a recession here at all where I live, Charlotte, NC. The malls were/are packed even before the holiday season. Restaurants still have hour waits on weekends and high end dealers here are still selling cars. I understand people are losing jobs due to mergers, etc but that would happen anyways and would it be so mediaoritzed (I know not a word) 1 year ago?? What do you guys honestly think????
Himain, nearly 2 million people lost jobs in 2008.

Charlotte unemployment rate is highest I believe in 8 years and climbing. Very few jobs in our (Charlotte) are safe.

Most people who goto malls are not buying as much as they used to (they are going, just not going as much as they used to), and the things they are buying are marked down HEAVILY.

Most higher end stores (ie Gap) are doing extremely bad while places like Mickey D's and Walmart are doing extremely good. Why is that? Most people are afraid to spend money because for the 1st time in their generation (gen x'ers & y's) they are actually worrying about budgeting and controlling expenses.

Look at all the "for lease" stores and businesses closing down in Charlotte..there are reasons for this...

No, the media is not blowing this up. It is bad out there.
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Old 12-17-2008, 09:32 AM
 
28,453 posts, read 73,510,312 times
Reputation: 18485
CouponJack:

I have doubt that things are not rosy in Charlotte, but I have a question: Were you in Charlotte back in the 1980's? What was the size of the total economy down there back then? Do you think that all the STUFF that has built back in the past two decades is going to just dry up and blow away? The stores that are vacant now are OPPORTUNITIES for some one else to NOT make the same mistakes that other over-extended businesses made.

The model for "upheaval" is not pleasant for those that get laid off, but if they have talent, odds are extremely good that new firms will hire them and over time more than make up for any losses.

Budgets and an awareness of consequences of spending are actually QUITE HEALTHY and will almost certainly lead to a more stable economic situation.
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Old 12-17-2008, 10:46 AM
 
Location: Wouldn't you like to know?
9,114 posts, read 15,967,950 times
Reputation: 3698
Quote:
Originally Posted by chet everett View Post
CouponJack:

I have doubt that things are not rosy in Charlotte, but I have a question: Were you in Charlotte back in the 1980's? What was the size of the total economy down there back then? Do you think that all the STUFF that has built back in the past two decades is going to just dry up and blow away? The stores that are vacant now are OPPORTUNITIES for some one else to NOT make the same mistakes that other over-extended businesses made.

The model for "upheaval" is not pleasant for those that get laid off, but if they have talent, odds are extremely good that new firms will hire them and over time more than make up for any losses.

Budgets and an awareness of consequences of spending are actually QUITE HEALTHY and will almost certainly lead to a more stable economic situation.

Chet, I've been here for 2 years. All I've been hearing is that Charlotte is "different" and won't be affected because of all the positive qualities and also avoiding the RE bubble.....well I can tell you that is not the case now...


Here's the problem Chet for anyone who is not familiar w/the town (not sure if you live here or not...)

Charlotte had a HUGE influx of transplants over the years (including myself). For years people have moved here w/o securing work. From '06 and before it wasn't a problem, however nobody is hiring here and many are laying off, so SKILLED workers (ie IT, healthcare, etc) cannot find work. Just go on the Charlotte forum if you "doubt" me......

Also, BofA & Wachovia are planning major layoffs soon (several thousand at least combined)....for a town/region this size, it will hurt immensely.


On a positive note, the builders have cut back a ton. This stinks for people in the industry (which I know many), however for the long term success of this area its definitely needed so the existing inventory can be flushed out...
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Old 12-17-2008, 11:09 AM
 
28,453 posts, read 73,510,312 times
Reputation: 18485
I am Chicago based. I have been to Charlotte back when it was a sleepy little nothing of town in the 80's and I was there about a year and half ago. I agree that they did have LABOR SHORTAGES and have no doubts that the current banking difficulties have swung 180 degrees to great uncertainty for many people's employment.

I do not know how long things will be difficult, but the growth of the banks, and the all the skills that have been spread around because of that SHOULD be an encouraging thing -- the people will not "rust" they way heavy industries of the upper midwest did in the '70s - '80s.

Longer term, the business climate in NC is still going to be attractive. I know that when Illinois and NY governors are made fun in the national press the NC investments in RTP and surrounding areas scream out "let's move to where we are welcome".

Even the physical environment is welcoming -- who wants to freeze their tush off when they could be in enjoying a much more pleasant climate!

Of course it will take some time to absorb the over supply of housing, but it WILL be a pull to bring people down, not some sort of hideous ball & chain like the legacy of failed heavy industries that haunts other states.
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Old 12-17-2008, 05:23 PM
 
Location: Wouldn't you like to know?
9,114 posts, read 15,967,950 times
Reputation: 3698
Quote:
Originally Posted by chet everett View Post
I am Chicago based. I have been to Charlotte back when it was a sleepy little nothing of town in the 80's and I was there about a year and half ago. I agree that they did have LABOR SHORTAGES and have no doubts that the current banking difficulties have swung 180 degrees to great uncertainty for many people's employment.

I do not know how long things will be difficult, but the growth of the banks, and the all the skills that have been spread around because of that SHOULD be an encouraging thing -- the people will not "rust" they way heavy industries of the upper midwest did in the '70s - '80s.

Longer term, the business climate in NC is still going to be attractive. I know that when Illinois and NY governors are made fun in the national press the NC investments in RTP and surrounding areas scream out "let's move to where we are welcome".

Even the physical environment is welcoming -- who wants to freeze their tush off when they could be in enjoying a much more pleasant climate!

Of course it will take some time to absorb the over supply of housing, but it WILL be a pull to bring people down, not some sort of hideous ball & chain like the legacy of failed heavy industries that haunts other states.
Chet, Back in the good old days (pre '07) people from the northeast, CA, midwest could sell their homes and move here. Easy enough. Problem is, no one in the US can sell their homes...thus they can't move here.

Regarding labor shortages, its a 180 from when you came here. There's too many people and zero jobs...again just goto the Charlotte forum and ask the question about "moving to Charlotte" and see what all the natives say....

There is no "growth" of banks here. Just the major opposite. Banks are shrinking big time. Again, there will be layoffs soon in the THOUSANDS....I'm not exaggerating.

In regards to housing, Charlotte won't recover until AFTER the transplant cities recover first (ie NY/NJ, CA, etc...) because most of the growth here is from transplants.....if the people up north and out west can't sell, they ain't moving here...very simple.

We do have some positives (climate, very friendly people) and things will get better....just going to take a very long time that's all...
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