Community Chat

[Qwackertoo]

On 4/4/2015 LyndaGee said:

On 4/4/2015 evelomaddict said:

positive thinking unfortunately doesn't pay the bills.

All the money which was lost in our retirement accounts has been recovered. That will help pay the bills some day. The '08 crash really hurt.

Yes it did hurt. Especially with college funds. We lost a LOT. And had one graduating high school in 2012 so only 4 years away when it crashed and now one in 2015 . . . thankfully they all recovered nicely. At the time it was unsettling.

But sometimes I can't help but think how great they'd be IF we didn't have to suffer those almost 50% losses and how much it would be now . . . oh well . . . they recovered nicely so that is all that counts now!!! YAY.

I'm sure those who were very close to retirement or retired back in '08 were hurt even more so with no or little time to recover.

[LyndaGee]

I'm glad things worked out well for you, Quackertoo. Those were scary times. I feel bad for everybody who took a hit.

[chickenbutt]

Yeah those years, shortly after the beginning of the century were pretty bad in so many ways. But I watched my investments tanking and I had to just stop looking at the statements. It's very upsetting to see your hard-earned money whittling away.

But, in the last several years, it has come back and more. I couldn't help wondering what it would be if I hadn't lost so much. I also have to just NOT think about that!

[Irshgrl31201]

On 4/4/2015 evelomaddict said:

positive thinking unfortunately doesn't pay the bills.

I agree with this. I am very positive but at some point you have to be realistic and face what is going on and then plan A has to become plan B or plan C.

This has been the worst recovery in history. The fed is pumping $85 billion in the economy each month so it is impossible to tell what the true picture is. We have the lowest labor participation rate in 40 yrs, people have timed out of unemployment and are no longer counted, foods stamps are at an all time high and requests for disability is at an all time high. NPR did a wonderful story about how disability applications directly correlate with the unemployment rate. Towns that have seen major shut downs have skyrocketed in disability.The interest rates have been kept artificially low as well. I think we will have the true picture when we ease up on these things.

I am not being negative or pessimistic but realistic. That is imperative to planning for the future.

[HiLo]

On 4/1/2015 Cakers1 said:

On 4/1/2015 Qwackertoo said:

On 4/1/2015 Cakers1 said:

Who in the world said they want the economy to go backwards?? Or can't admit that things are better? Things are NOT better everywhere. That's a realistic and truthful fact.

It gets really old seeing the same thing thrown out around here. The economy is on an uptick but there are still folks hurting. Why can't some of you admit to that???

Sheesh - next we'll get the usual "you just don't like who is in office" schtick.

Agree Cakers1.

I'm certainly not one to break out the pom poms and be a cheerleader for things that are not cheer worthy.

Nor will I break out a tin foil hat and spew doom & gloom.

It is what it is. The numbers don't lie. Good. Or. Bad. Or. In-between.

And I sure as heck don't go around "cherry picking" to fit either party.

edit left out a word.

It's annoying to constantly read that posters want the worse to happen. I can't even imagine thinking that way.

Just who are the posters who "want the worse to happen?" Personally, I'm looking forward to a higher interest rate for a few CD's on which the interest rates are at the bottom. I would certainly like to have a few extra bucks in my pocket; the cost of everything is so high I am just about breaking even. I try to be realistic about everything and this subject is no exception.

[magicmoodz]

On 4/4/2015 Irshgrl31201 said:

On 4/4/2015 evelomaddict said:

positive thinking unfortunately doesn't pay the bills.

I agree with this. I am very positive but at some point you have to be realistic and face what is going on and then plan A has to become plan B or plan C.

This has been the worst recovery in history. The fed is pumping $85 billion in the economy each month so it is impossible to tell what the true picture is. We have the lowest labor participation rate in 40 yrs, people have timed out of unemployment and are no longer counted, foods stamps are at an all time high and requests for disability is at an all time high. NPR did a wonderful story about how disability applications directly correlate with the unemployment rate. Towns that have seen major shut downs have skyrocketed in disability.The interest rates have been kept artificially low as well. I think we will have the true picture when we ease up on these things.

I am not being negative or pessimistic but realistic. That is imperative to planning for the future.

I try not to be negative, but I am a REALIST, and I concur with your thoughts, Irsh, concerning the state of our economy. I recall seeing a story on 60 Minutes regarding people who have rolled off unemployment (benefits ended) and interestingly they developed a malady where they could begin collecting disability. I don't remember who she was, but some politician/pundit was actually defending this practice, asking "what are they supposed to do?".

I have worked with a criminal clientele who wrongfully obtain unemployment or public assistance, so you can guess that I have some very strong opinions on people who always try to get something for nothing. Please don't misunderstand, if someone is truly disabled and unable to work, I have complete compassion for him/her. But, then there are the others...

[Burnsite]

The horrific collapse of the economy in late 2007 is still affecting us all but the overall picture is greatly improved. Real estate has made a comeback where I live, and that was the main factor for why my state, FL, was devastated. Tourism was down by 90% in 2008 and had its best year ever this season, 2014-15.

There are always problems to be addressed, of course, but denying recovery is a lot like denying climate change: the evidence overwhelmingly points one way, suggesting in the case of economics partial recovery at least. Things are not worse than they were in late 2007. The stock market is better, real estate is stronger everywhere (if in some states, including my own, not at pre-crash/bubble levels). Employment has improved, but probably not full employment. Compensation for workers and jobs for workers that deliver benefits to workers took a horrible dive in 2007 and are not back to pre-crash levels.

[Cakers1]

On 4/4/2015 HiLo said:

On 4/1/2015 Cakers1 said:

On 4/1/2015 Qwackertoo said:

On 4/1/2015 Cakers1 said:

Who in the world said they want the economy to go backwards?? Or can't admit that things are better? Things are NOT better everywhere. That's a realistic and truthful fact.

It gets really old seeing the same thing thrown out around here. The economy is on an uptick but there are still folks hurting. Why can't some of you admit to that???

Sheesh - next we'll get the usual "you just don't like who is in office" schtick.

Agree Cakers1.

I'm certainly not one to break out the pom poms and be a cheerleader for things that are not cheer worthy.

Nor will I break out a tin foil hat and spew doom & gloom.

It is what it is. The numbers don't lie. Good. Or. Bad. Or. In-between.

And I sure as heck don't go around "cherry picking" to fit either party.

edit left out a word.

It's annoying to constantly read that posters want the worse to happen. I can't even imagine thinking that way.

Just who are the posters who "want the worse to happen?" Personally, I'm looking forward to a higher interest rate for a few CD's on which the interest rates are at the bottom. I would certainly like to have a few extra bucks in my pocket; the cost of everything is so high I am just about breaking even. I try to be realistic about everything and this subject is no exception.

HiLo: You are misinterpreting these posts.

[shoekitty]

It is a different economy. Things will never, ever be the same again. They will be different. Jobs have changed, the way we work has changed. The way we invest, and how much we retrieve from investments are changing. There needs to be training and education in the jobs of the future.

Rarely anyone in this world starts at the bottom anymore, is trained patiently at each station, and works their way up to the top. This was possible 30 years ago. Now you need a degree of some kind to work in an office. You need a trade, or a degree, and you have to be hard working and inventive. One of my daughters started working at one of the top insurance Company's when she was 22. She is now 48, and has worked her way up over the years to the legal dept in medical claims, and has an excellent salary. She also does twice as much work, because the office has slimmed down. New people coming into the dept need an AA to work in the office . She couldn't get her own job back. She said they don't even do business the way they used to. I am sure this is true with many posters here working at a place for a long time.

People I have known who built multi million dollars business in the medical field doing transcription, have not only seen the way their once exclusive field has been changed 360 degrees and farmed out, have changed and rebuilt. It isn't as thriving as it once was, but it is working

I think we are recovering well. I do however agree some states are not recovering as well as others.

[kzeks]

On 4/4/2015 chickenbutt said:

Yeah those years, shortly after the beginning of the century were pretty bad in so many ways. But I watched my investments tanking and I had to just stop looking at the statements. It's very upsetting to see your hard-earned money whittling away.

But, in the last several years, it has come back and more. I couldn't help wondering what it would be if I hadn't lost so much. I also have to just NOT think about that!

We went through the same thing...

We would watch the same thing happen to our investment..

At one time we lost quite a bit... It was a cause for concern..

All our friends were going through the same thing. Some of them

shuffled their investments around and paid dearly for the mistakes.

Our Financial Advisor would tell us to just sit tight and ride the

wave... That wave had us really sea-sick...

We never touched the investments and just waited it out...

Then in the last few years things turned and are going very well.

Praise God...