wondering, if we are in recession going into depression?

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Hi everyone, I can"t believe the amount of people being layed off. where on earth are they going to get work, So many with homes and there morgage payments are more than they handle.I saw on News, that a lot of homes are up for sale, Who is going to buy them, Grocerys are going up in price, The old peoples C D"s are turning over at a much lower rate, which cuts there income, We are in our 70"s, and our Cd"s now are paying us a whole lot less, We manage on Social Security, and a small pension. No one wants to travel, so all hotels and motels are laying off, the resturants are hit too. I wonder how much money will be spent this christmas, we are really cutting back. My Credit cards are now payed off, Kinda just getting ready for what ever. God Bless Irene

-- Irene texas (tkorsborn@cs.com), October 07, 2001

Answers

Here is a little blurb I saw on tv the other day going across the bottom of the screen. It made me think a little.

Warren Buffett,investing guru, says "we are in a deep and long lasting recession." He is possibly the worlds best investor, so when he says something it is probably correct. I hope he is wrong though. I wasn't intending to be depressing, but we need to know what is going on so we can plan accordingly. God will help us through this, we only need to ask.

Talk to you later.

-- Bob in WI (bjwick@hotmail.com), October 07, 2001.


Well, it appears that we have started our retaliation (for lack of a better word) Forgive me, I am a bit taken aback by this. I knew it would be coming but now that we have "answered" their call to war, it is more real than sureal. Blessings to each of you and your families.

-- Greenthumbelina (sck8107@aol.com), October 07, 2001.

I do feel we are in a recession. My brother is in the tourism industry out west. He does tours and works on western ranches. He called today and said that their bookings have dropped off to almost nothing, so he has no work. What is bad is he usually lives on the ranches he works on, so he not only loses his job, but his home. He is thinking of coming back here for the winter until things pick up. I did see that we have started air-strikes. God help us, I just wonder what will happen next. I'm sure there will be some type of retalitation.

-- Melissa (me@home.net), October 07, 2001.

I have heard that two quarters of negative growth is considered a recession. (Definately what we are looking at) I talked to someone that remembered the depression and he mentioned that some items were available and cheep, it's just that few had the money to buy them at even that low rate. Other items were rationed, other items were scarce. I guess it depends on what industries get hurt by the hard times. Irene, Congratulations on your credit cards being paid off!!! :o) They do not make it easy.

-- notnow (notnow05@yahoo.com), October 08, 2001.

And the answer is Yes, and No.

It all depends on which spin that you like.

Did you stop using FOOD, FUEL, and ENERGY? If you did then you can just use the same old spin and be sure that the "economy is better than ever". We have been listening to this for years and years now.

Of course for those of us who do use food, fuel and energy this babble will not apply.

The air lines have literally hundreds of aircraft that are not needed right now. You can buy them cheap if you want to go into the air transport business. Plenty of help available (about 2 available, highly qualified people for every job...)

How about the trucking industry, same thing lots of trucks sitting around waiting on work. At least 2 drivers for every load out there.

How about anything that requires new equipment 0.000% financing on anything you want right now. That would be because nobody is buying right now, what with all the good equipment sitting around with no work...

A war would probably solve all the problems. Blow up all the stuff that didn't work anyway, and then the U.N. can direct the member countries to replace everything with new stuff. Hot deal most of this expense will be free. It will be provided by the American taxpayer, that's free right? If I do not have a job, can't get one then I will not be a tax payer and it won't cost me anything.

Are we going to have a recession, or a depression? Yep, you can bet your pole beans on it. Actually we deserve it, for the stupidity that we put up with in our marketplace.

-- Ed Copp (OH) (edcopp@yahoo.com), October 12, 2001.



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