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OT: my take on the economy 1st hand

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trevordchi

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My job hasn't been affected at all. In fact, we are a lot more busy now than 6 months ago. Unfortunately, my job sucks really bad. I graduate from college in May and I'm worried that I'm going to be stuck working for $10-15/hr instead of making a decent salary. I have big plans and I need the economy to rebound for me to start working towards those plans!

I have my fingers crossed.
 

predatorkj

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Quenepa22 said:
No matter what happens, I still think that America is the best country in the world to live in! IMO, the reason that we are in this mess, globally, is because of the greediness of our politicians! I know that corruption will always be in our midst, but, why do we need it so blatantly in lobbyist that feed into the greedy politicians just to sway laws in favor of the lobbyists' employers!

Why can't the politicians truly represent the constituents that elected them. Instead of protecting the best interest of Americans they are busy passing laws that are allowing jobs and companys to move offshore.

Fortunately, I still have a job, but many people in the company I work for have been let go. It is very interesting how this has occured. The company I work for (which I will not name, but is a big player in the American economy) was bought by a group of investors a couple of years back. Suddenly, the offices were filled with people from India being taught how to do the work of the people in these offices. I come to find out that the company has said to their workers that they have a choice to make...1) they could be let go immediately or 2) they could teach their Indian counterpart their position for the next couple of months and then be let go!

The office that used to be pleasure going to became like a "foreign country" within a matter of months! In the mornings, there were taxi's line up at the front entrance dropping off 2 to 3 indian workers.

From time to time, I have to contact different departments for information and I am sorry to say that the language barrier is nearly impossible to overcome!

I am not against folks from other parts of this world having jobs in American companies, but, it seems that our American companies and Americans alike have been sold out to foreign countries.

Our government thinks that bailouts will get us out of this mess and all they are doing is throwing up a smoke screen to the American people in hopes that eventually the recession that we are in will soon end. They really need to clamp down on their own actions as things are bound to get worse than it is already. Yes they can print all the money they want, but it doesn't make a difference when a good portion of America and American businesses are owned by foreign countries.

They need to pass laws that will benefit Americans. My personal feeling is that not one more dime of Americans tax money go to any other financial insitution. Let us remove our 401K's without penalties and place them in accounts that we can control instead of hoping that the SEC will protect our investments from fraud & greed! And instead of pumping dollars into local governments for infrastructure improvements, take these approved billions (or trillions) of dollars and place them into safe education savings accounts for natural-born American citizens to use for college educations!

I asked that our government give Americans a fighting chance to continue to be the best country in this world...invest in your citizens instead of corporations and your own pockets!

Sorry for the long rant, I just could not help it. :D


Pretty much sums up how I feel about the whole ordeal.Until the politicians start forcing American companies to make their products here and their services here instead of outsourcing them all over the globe...the economy will continue to hurt.
 

200lbhockeyplayer

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It's not the government's fault that companies outsource and ship manufacturing jobs overseas...it's greed's fault. It's the corporation's fault. It's shareholders fault.

There is a little thing called "civic responsibility" that so few companies follow, it's embarrassing. During World War II, American companies joined the war effort, voluntarily and through the pressure of their peers. These companies completely overhauled their specific industries to help the war effort in a time of need.

This is hardly the case any longer.

And for people who scream, "taxes are why companies are leaving" - any corporation with a solid accounting system set-up should pay no more than marginal taxes. High taxes are used as an excuse. High labor is an excuse.

It always boils down to greed. And that's something that most American corporations and shareholders won't ever get the grasp of again.
 

boxbreaker

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200lbhockeyplayer said:
It's not the government's fault that companies outsource and ship manufacturing jobs overseas...it's greed's fault. It's the corporation's fault. It's shareholders fault.

There is a little thing called "civic responsibility" that so few companies follow, it's embarrassing. During World War II, American companies joined the war effort, voluntarily and through the pressure of their peers. These companies completely overhauled their specific industries to help the war effort in a time of need.

This is hardly the case any longer.

And for people who scream, "taxes are why companies are leaving" - any corporation with a solid accounting system set-up should pay no more than marginal taxes. High taxes are used as an excuse. High labor is an excuse.

It always boils down to greed. And that's something that most American corporations and shareholders won't ever get the grasp of again.

look up the corporate tax rate here....

then look it up for ireland, and check how their faring in the "gobal ecomony faliure"



looks linked to me.
 

teachervido

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jacobbocce72 said:
it's times like these that i'm glad i choose education as my major... that's one job where you can't really get laid off...

-Jacob

Not true dude. Where I work, NYC, it's pretty bad. Each public school had to cut 5% of it's budget this year. Next school year another 3%. Luckily I am tenured but that means 4-5 teachers out of a job.
 

ffgameman

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I work at Wal-Mart as a cashier and as far as I know our store hasn't been severely affected yet.

Like others I'm grateful that I have a job now - but who knows what our economy will be like when I graduate with an accounting degree.
 

Therion

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jacobbocce72 said:
theplasticman said:
jacobbocce72 said:
it's times like these that i'm glad i choose education as my major... that's one job where you can't really get laid off...

-Jacob

Unless your state has a huge budget deficit and they start laying teachers off. A buddy of mine is nervous since he isnt tenured yet.

My hours got cut almost 50%

It's really, really hard to get fired in Texas. Not that this is a good thing, because i am planning on being a great teacher, but there are a lot of lousy teachers that just kind of hang around. Plus, as a male middle school science teacher, i am pretty desirable.

LOL Apparently you don't live near Dallas, because one of the most controversial news stories this year was the laying off of around 1,000 teachers in Dallas ISD.
 

cnotekidwrxsti

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While I think you make a lot of good points I think strongly believe that the reason our country is having such a tough time is because the decisions we make as Americans. Everything that has happened is because of American people needs to spend. People always want more than they actually need to get by in life. This is why the average american has over $10,000 in credit card debt. During the booming real estate market people were buying houses that were way to big for their needs. I understand that having a big expensive house is nice but people forget what it takes to heat big homes, to pay property taxes on big homes, and that flexible interest rates on 5 year arms get rediclous after the intial period.

So what happened during all of this spending....gas prices went up. When the gas prices went up people couldnt afford to pay for their high mortgages, gas for their SUVs, car payments, and heating prices for their 4000 sq homes.

I always say do not live beyond your means. Nothing is guarenteed in this world so you have to position yourself in markets that can not weaken. This is why I went into the environmental sector. Automakers, retailers and insurance companies performance is based of the stability of the economy.

For most people, I think this is a good time to go back to school and get additional education. With the hurt economy, schools will be lowering tuition costs and this could help people get into more defined fields that have more stablility. Hopefully everyone on the boards makes it through these tough times!

Quenepa22 said:
No matter what happens, I still think that America is the best country in the world to live in! IMO, the reason that we are in this mess, globally, is because of the greediness of our politicians! I know that corruption will always be in our midst, but, why do we need it so blatantly in lobbyist that feed into the greedy politicians just to sway laws in favor of the lobbyists' employers!

Why can't the politicians truly represent the constituents that elected them. Instead of protecting the best interest of Americans they are busy passing laws that are allowing jobs and companys to move offshore.

Fortunately, I still have a job, but many people in the company I work for have been let go. It is very interesting how this has occured. The company I work for (which I will not name, but is a big player in the American economy) was bought by a group of investors a couple of years back. Suddenly, the offices were filled with people from India being taught how to do the work of the people in these offices. I come to find out that the company has said to their workers that they have a choice to make...1) they could be let go immediately or 2) they could teach their Indian counterpart their position for the next couple of months and then be let go!

The office that used to be pleasure going to became like a "foreign country" within a matter of months! In the mornings, there were taxi's line up at the front entrance dropping off 2 to 3 indian workers.

From time to time, I have to contact different departments for information and I am sorry to say that the language barrier is nearly impossible to overcome!

I am not against folks from other parts of this world having jobs in American companies, but, it seems that our American companies and Americans alike have been sold out to foreign countries.

Our government thinks that bailouts will get us out of this mess and all they are doing is throwing up a smoke screen to the American people in hopes that eventually the recession that we are in will soon end. They really need to clamp down on their own actions as things are bound to get worse than it is already. Yes they can print all the money they want, but it doesn't make a difference when a good portion of America and American businesses are owned by foreign countries.

They need to pass laws that will benefit Americans. My personal feeling is that not one more dime of Americans tax money go to any other financial insitution. Let us remove our 401K's without penalties and place them in accounts that we can control instead of hoping that the SEC will protect our investments from fraud & greed! And instead of pumping dollars into local governments for infrastructure improvements, take these approved billions (or trillions) of dollars and place them into safe education savings accounts for natural-born American citizens to use for college educations!

I asked that our government give Americans a fighting chance to continue to be the best country in this world...invest in your citizens instead of corporations and your own pockets!

Sorry for the long rant, I just could not help it. :D
 

fengzhang

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cnotekidwrxsti said:
While I think you make a lot of good points I think strongly believe that the reason our country is having such a tough time is because the decisions we make as Americans. Everything that has happened is because of American people needs to spend. People always want more than they actually need to get by in life. This is why the average american has over $10,000 in credit card debt. During the booming real estate market people were buying houses that were way to big for their needs. I understand that having a big expensive house is nice but people forget what it takes to heat big homes, to pay property taxes on big homes, and that flexible interest rates on 5 year arms get rediclous after the intial period.

So what happened during all of this spending....gas prices went up. When the gas prices went up people couldnt afford to pay for their high mortgages, gas for their SUVs, car payments, and heating prices for their 4000 sq homes.

I always say do not live beyond your means. Nothing is guarenteed in this world so you have to position yourself in markets that can not weaken. This is why I went into the environmental sector. Automakers, retailers and insurance companies performance is based of the stability of the economy.

For most people, I think this is a good time to go back to school and get additional education. With the hurt economy, schools will be lowering tuition costs and this could help people get into more defined fields that have more stablility. Hopefully everyone on the boards makes it through these tough times!

Quenepa22 said:
No matter what happens, I still think that America is the best country in the world to live in! IMO, the reason that we are in this mess, globally, is because of the greediness of our politicians! I know that corruption will always be in our midst, but, why do we need it so blatantly in lobbyist that feed into the greedy politicians just to sway laws in favor of the lobbyists' employers!

Why can't the politicians truly represent the constituents that elected them. Instead of protecting the best interest of Americans they are busy passing laws that are allowing jobs and companys to move offshore.

Fortunately, I still have a job, but many people in the company I work for have been let go. It is very interesting how this has occured. The company I work for (which I will not name, but is a big player in the American economy) was bought by a group of investors a couple of years back. Suddenly, the offices were filled with people from India being taught how to do the work of the people in these offices. I come to find out that the company has said to their workers that they have a choice to make...1) they could be let go immediately or 2) they could teach their Indian counterpart their position for the next couple of months and then be let go!

The office that used to be pleasure going to became like a "foreign country" within a matter of months! In the mornings, there were taxi's line up at the front entrance dropping off 2 to 3 indian workers.

From time to time, I have to contact different departments for information and I am sorry to say that the language barrier is nearly impossible to overcome!

I am not against folks from other parts of this world having jobs in American companies, but, it seems that our American companies and Americans alike have been sold out to foreign countries.

Our government thinks that bailouts will get us out of this mess and all they are doing is throwing up a smoke screen to the American people in hopes that eventually the recession that we are in will soon end. They really need to clamp down on their own actions as things are bound to get worse than it is already. Yes they can print all the money they want, but it doesn't make a difference when a good portion of America and American businesses are owned by foreign countries.

They need to pass laws that will benefit Americans. My personal feeling is that not one more dime of Americans tax money go to any other financial insitution. Let us remove our 401K's without penalties and place them in accounts that we can control instead of hoping that the SEC will protect our investments from fraud & greed! And instead of pumping dollars into local governments for infrastructure improvements, take these approved billions (or trillions) of dollars and place them into safe education savings accounts for natural-born American citizens to use for college educations!

I asked that our government give Americans a fighting chance to continue to be the best country in this world...invest in your citizens instead of corporations and your own pockets!

Sorry for the long rant, I just could not help it. :D

I agree. It's scary how most Americans simply disregard debt. In many other cultures, it shameful to take out loans and carry debt. People have no problem spending beyond their means even when they know they'll have to pay dearly for it later (in the form of 20% credit card interest). I just don't understand how people can have a cavalier attitude towards debt.

That said, I'm going to be 160k in debt upon graduation due to school bills, as will most of my classmates. But, it's amazing the length we go to in order to save money despite the fact all of us will be making good money later on.

http://forums.studentdoctor.net/showthr ... ght=frugal
 

predatorkj

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200lbhockeyplayer said:
It's not the government's fault that companies outsource and ship manufacturing jobs overseas...it's greed's fault. It's the corporation's fault. It's shareholders fault.

There is a little thing called "civic responsibility" that so few companies follow, it's embarrassing. During World War II, American companies joined the war effort, voluntarily and through the pressure of their peers. These companies completely overhauled their specific industries to help the war effort in a time of need.

This is hardly the case any longer.

And for people who scream, "taxes are why companies are leaving" - any corporation with a solid accounting system set-up should pay no more than marginal taxes. High taxes are used as an excuse. High labor is an excuse.

It always boils down to greed. And that's something that most American corporations and shareholders won't ever get the grasp of again.


The government is somewhat at fault because they are pretty much the only entity that can impose anything on these companies.Someone with real power has to step forward and stop this crap.
 

Bruin7

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Sounds about right. And if the initial GM/Ford/Chrysler loan doesn't turn up in March we're headed for even more trouble (but you already knew that). Just be happy you have a job as I haven't been able to find any work since my lay off before Christmas. The advertising world is hurting just like everyone else.

Allen
 

jbone17

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Guys I am starting to get scared too. I am 18 years old and my future and our future generations are looking pretty bad. I go to a small community college to save money and I can't even do that. I work at Macy's and for those of you that haven't heard, they cut 11 stores last week. Two of them were in PA, and I am in NJ! That is too close for comfort. If I lose my job here, than who will take me if everyone is cutting back! I have a 1995 Ford Ranger pickup truck and if this craps out on me I am screwed! I don't have the money to pay for a new car. It is scary guys and the only end is very far away.
 

Therion

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jbone17 said:
Guys I am starting to get scared too. I am 18 years old and my future and our future generations are looking pretty bad. I go to a small community college to save money and I can't even do that. I work at Macy's and for those of you that haven't heard, they cut 11 stores last week. Two of them were in PA, and I am in NJ! That is too close for comfort. If I lose my job here, than who will take me if everyone is cutting back! I have a 1995 Ford Ranger pickup truck and if this craps out on me I am screwed! I don't have the money to pay for a new car. It is scary guys and the only end is very far away.

You're going to be fine. These things happen. Just keep going to school and do whatever you can to keep money coming. By the time you graduate we'll likely be back in an upswing. Even if we aren't, you're far better off having an education during a deep recession/depression than not having one.
 

jbone17

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I hear ya man. The thing is I am very blessed that my dad pays my tuition. The thing is that he works for Dow Jones in Princeton. If the Dow takes a turn for the worst my family is screwed. My mom works, but she makes very little; and my dad pays everything. If my dad loses his job, than we are done! I hate the way things are going and I can only pray that they get better.
 

f2tornado

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CA has a projected $48B shortfall and MN has a projected $5B (many suggest closer to $6B) shortfall. MN has about 5M residents meaning the shortfall is roughly $1000 to $1200 per man, woman, and child in the state. How in the hell do state budgets get this out of wack unless the states are spending too much in the first place. I'm skeptical we see little if any economic recovery in 2009. Still way too many holes to plug and less millionaires to assist. Best wishes to everyone here who is concerned about his/her job security.
 

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