Is the economy really that bad?

C

cinphi

New member
We keep hearing this in the media but I have to say I am in Louisiana and have been for a month and the malls have been packed. The same is true in Houston. I was shopping this past weekend and there were a lot of people out.

So how is it where you live? I see restaurants parking lots full and of course Wal Mart is always packed.
 
The price of products/groceries have definitely gone up, up, up. Despite the tremendous drop in gas prices, diesel continues to stay at an optimum price. Therefore, the price of goods won't be coming down any time soon unless diesel starts dropping.

These so-called deals/sales for Christmas are nothing to compare to from Christmas past. I just don't see any good enough deals to motivate me to purchase.

I think many people are being irresponsible in these economic times and are charging more rather than paying cash which is only going to make more things difficult for them down the road and make the banks even richer and make our economy worse from the increased public debt.

People need to learn to cut back and not be afraid to disappoint all because all the presents their children expect aren't under the tree.
 
I have seen things such as people at the malls for some time now. I can't say how things are any place else but all I'm saying is if it's as bad as the media says then I am not seeing it where I live. Sure grocery prices go up and down but I just don't see it so bad down here.
 
Our cost of living has gone up horrendously, but people are still packing the malls and eating out. Foreclosures and bankruptcy is at an all-time high on Long Island, and people are losing their jobs left and right from all the cut backs. As long as they have those plastic cards, many will keep on spending.

The last two times, we went to Dave & Busters, I noticed the portion sizes of their entrees had shrunken down; and the appetizers really shrunk down immensely--a sign of the times. We bought more appetizers, because they are no longer enough for the whole table. So, it cost us alot more to eat out for the same amount of food than even last year.

Usually, products will decrease in weight little by little so that the consumer doesn't notice too much; but something like Russell Stover's 16 oz. box of chocolates shrunk all the way down to 12 oz. for the same price--another sign of the times.
 
We live in an area that is really hard hit. There are companies laying off and closing down on almost a daily basis. We are paying for everything in cash or charging and paying it off that month. Right now with the things are we don't want any debt over our heads with the way things are in case Jimmie loses his job.

We ended up buying quite a bit for the house, but we just paid for it and don't owe anything. It hurt, but not as much as a monthly bill. His plant is based a lot by the car industry and we all know that they aren't looking very good right now...
 
Wow that's rough. So far Houston is holding up pretty well. I know it's rough in other areas of the country. So far we are ok but you never know. I was just curious as to what others are seeing.
 
yes it is.. 1 in 10 homeowners are either 1 month behind on their mortgages or in foreclosure right now. the jobless rate seems to go up every single month, so if you do lose your job good luck finding another one.. everything has gone up except wages.. so yes it is bad.
 
3mnkids1 said:
yes it is.. 1 in 10 homeowners are either 1 month behind on their mortgages or in foreclosure right now. the jobless rate seems to go up every single month, so if you do lose your job good luck finding another one.. everything has gone up except wages.. so yes it is bad.
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I don't see that where I live. So have you seen a lot of shoppers where you live?

I know what the media tells us but I was just wondering what each of us is seeing in our neck of the woods.
 
I dont pay attention to other people. :laughing: the wal mart is busy but people still need to buy groceries no matter how bad it is.. other than that I can only speak for me and my situation. the last couple of months have been rough. my husband was working half days or not at all because the places he delivers too were cutting back.. so it messed up us too.people are losing their jobs left and right here. And we are getting less and spending more. just because people are shopping doesnt mean anything really. this is a society of living beyond our means.. thats what credit cards are for.

Go by your local unemployment office for the real story. or see how many people are shopping at thrift stores and places like good will.. they are slammed I bet.
 
Texas, in general, is an exception to the rule compared to the rest of the nation. So, yes, Texas is the only one not suffering while the rest of the country is losing everything.

Monthly Review of the Texas Economy
November 2008

By Ali Anari and Mark G. Dotzour

The Texas economy is relentlessly adding jobs despite more job losses for the nation. Texas’ nonfarm employment rose 2.2 percent from October 2007 to October 2008 compared with a decrease of 0.9 percent for the United States. The state’s seasonally adjusted unemployment rate rose from 4.3 percent in October 2007 to 5.6 percent in October 2008. Over the same period, the U.S. seasonally adjusted unemployment rate rose from 4.8 percent to 6.5 percent.

Full report:

http://recenter.tamu.edu/pdf/1862.pdf

More information:

http://en.wikipedia.org/wiki/Economy_of_Texas

Texas Economy

Mineral resources compete with industry for primary economic importance in Texas. The state is the leading U.S. producer of oil, natural gas, and natural-gas liquids, despite recent production declines. I t is also a major producer of helium, salt, sulfur, sodium sulfate, clays, gypsum, cement, and talc. Texas manufactures an enormous variety of products, including chemicals and chemical products, petroleum, food and food products, transportation equipment, machinery, and primary and fabricated metals. The development and manufacture of electronic equipment, such as computers, has in recent decades become one of the state's leading industries; the area around Dallas–Fort Worth has become known as “Silicon Prairie,” a name now also extended to Austin and its suburbs.

Agriculturally, Texas is one of the most important states in the country. It easily leads the nation in producing cattle, cotton, and cottonseed. Texas also has more farms, farmland, sheep, and lambs than any other state. Principal crops are cotton lint, grains, sorghum, vegetables, citrus and other fruits, and rice; the greatest farm income is derived from cattle, cotton, dairy products, and greenhouse products. Hogs, wool, and mohair are also significant. Among other important Texas crops are melons, wheat, pecans, oats, and celery. Texas also has an important commercial fishing industry. Principal catches are shrimp, oysters, and menhaden.
 
Well I do hope things improve for your family. I guess all I am saying is if it's that bad I sure wouldn't know it in Louisiana and Texas. I really couldn't say if folks are buying on credit because I'm not paying attention to that.

I tell ya'll what if it gets tough for me and mine I will no longer be on the internet :headbang:
 
LIDARKSIDE said:
Texas, in general, is an exception to the rule compared to the rest of the nation. So, yes, Texas is the only one not suffering while the rest of the country is losing everything.

Monthly Review of the Texas Economy
November 2008

By Ali Anari and Mark G. Dotzour

The Texas economy is relentlessly adding jobs despite more job losses for the nation. Texas’ nonfarm employment rose 2.2 percent from October 2007 to October 2008 compared with a decrease of 0.9 percent for the United States. The state’s seasonally adjusted unemployment rate rose from 4.3 percent in October 2007 to 5.6 percent in October 2008. Over the same period, the U.S. seasonally adjusted unemployment rate rose from 4.8 percent to 6.5 percent.

Full report:

http://recenter.tamu.edu/pdf/1862.pdf

More information:

http://en.wikipedia.org/wiki/Economy_of_Texas

Texas Economy

Mineral resources compete with industry for primary economic importance in Texas. The state is the leading U.S. producer of oil, natural gas, and natural-gas liquids, despite recent production declines. I t is also a major producer of helium, salt, sulfur, sodium sulfate, clays, gypsum, cement, and talc. Texas manufactures an enormous variety of products, including chemicals and chemical products, petroleum, food and food products, transportation equipment, machinery, and primary and fabricated metals. The development and manufacture of electronic equipment, such as computers, has in recent decades become one of the state's leading industries; the area around Dallas–Fort Worth has become known as “Silicon Prairie,” a name now also extended to Austin and its suburbs.

Agriculturally, Texas is one of the most important states in the country. It easily leads the nation in producing cattle, cotton, and cottonseed. Texas also has more farms, farmland, sheep, and lambs than any other state. Principal crops are cotton lint, grains, sorghum, vegetables, citrus and other fruits, and rice; the greatest farm income is derived from cattle, cotton, dairy products, and greenhouse products. Hogs, wool, and mohair are also significant. Among other important Texas crops are melons, wheat, pecans, oats, and celery. Texas also has an important commercial fishing industry. Principal catches are shrimp, oysters, and menhaden.
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Thanks good to know. I'm in Louisiana now. How are they doing?
 
Interesting question, cin. I think perspective is everything on this issue. In general terms, certain parts of the country have it worse than others. Individual choices also factor in to how you view things now. Speaking only for myself, we're actually better off than we were at this time last year. My husband was unemployed for a full year and finally found a decent job in August. Things are going well and the business that hired him is stable. No matter what our situation, we have never been extravagant spenders. Seeing lots of people shopping now is a good thing - but considering that it's Christmas time, that's not a big surprise. Impossible to know if the shoppers are budgeting and paying with cash, wildly charging things they can't afford, or spending a different amount than they did last year.
 
gosweepwin said:
Interesting question, cin. I think perspective is everything on this issue. In general terms, certain parts of the country have it worse than others. Individual choices also factor in to how you view things now. Speaking only for myself, we're actually better off than we were at this time last year. My husband was unemployed for a full year and finally found a decent job in August. Things are going well and the business that hired him is stable. No matter what our situation, we have never been extravagant spenders. Seeing lots of people shopping now is a good thing - but considering that it's Christmas time, that's not a big surprise. Impossible to know if the shoppers are budgeting and paying with cash, wildly charging things they can't afford, or spending a different amount than they did last year.
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I know we were in that situation 10 years ago when DH and I both lost our jobs. We were in Colorado and that's when we moved to Texas. It does depend on a lot of different circumstances and I really hope everyone on SA will be ok.
 
no matter how bad things get I wouldn't get rid of my internet.. I make way more money sweeping than what it cost to have internet. This is how I get xmas and bday presents for the kids.

And I have been to texas. no offense but I will stay right were I am. :laughing:
 
3mnkids1 said:
no matter how bad things get I wouldn't get rid of my internet.. I make way more money sweeping than what it cost to have internet. This is how I get xmas and bday presents for the kids.

And I have been to texas. no offense but I will stay right were I am. :laughing:
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It's ok you don't have to come to Texas but sometimes you have to go where the work is. We did. I'm not wining that much but good job for you. And I guess I figure if I had to get rid of things food would come first and internet could be a luxuary I could do without.
 
According to Louisiana's economy status, they have yet to feel the impact that the rest of the country is feeling--never say never and be prepared for what appears to be looming down the road.
 
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