In Michigan we are in a recession and have been for some time now. Being that our economy is still linked to the auto industry the old adage of when the nations economy gets a cold we develop pneumonia.
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Mike
"It's not the things you don't know that will hurt you, it's the things you think you know that ain't so." - Mark Twain -
Recessions seem to be cyclical, 1977,1987,1997, now 2007. It seems to be the economy's way of resetting itself with our boom or bust mentality.
GM, Ford, and Chrysler have been spiraling downward since the 90's due to internal problems and poor quality compared to their peers. at least 2 years ago it was warned that the housing market was out of control. everyone was comfortable so nobody cared. now that it is falling apart people act like they are blindsided and this is now all an emergency. apparently we don't remember what we read in the paper from one day to the next.
This isn't any real indication but I find it interesting that the electric guitar manufacturer I used to work for has a 4 month backlog with more orders then ever. they crank out about 1100 guitars a month that start at $1000 and go up to $3500, the majority of the orders are for the premium models. Apparently if you play electric guitar you still have plenty of disposable income.Last edited by Tom Slick; 12-11-2007, 11:09 AM.Opportunity is missed by most people because it is dressed in overalls and looks like work. - Thomas EdisonComment
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My hat's off to' you, Sarge, for playing a good hand both ways; bowing to the needs of others and living in such a way that you could do that as well as weather the storm. Not many out there live within let alone below their means. Like a wise, older friend told me years ago, it's not how much you earn that makes you wealthy (he meant comfortable as opposed to 'rich'). It's how much you keep for yourself. He also said to keep your car, if it wasn't a lemon, and drive the wheels off of it. Sage words of advice and you seem to be a lot like him. Saaaalute, to you, Sarge!Blessings,
Chiz
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Thanks for the compliments Ironhat. Just my nature and the way I was brought up I suppose. Money is not always the bottom line. After almost ten years I got tired of answering the same questions about GTO fenders and Chevelle quarter panels. I believe anything can get old after a period and variety can be a good thing.
Looks like I have my hands full of work at the moment. Just not getting paid for it... but there is plenty of potatoes.. rice.. beans and bread in the cup-board and I was raised on veggies. Not one I can think of that I don't care for.
Pass them rutabaga's and collard greens, and those Vidalia onions while you're at it pleaseeee.
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The economy has become global. You cannot have recession in US without having same in Europe and Asia. Notice how subprime mortgages suddenly became a global problem. What we have is not recession, it is redistribution. My company is firing in US and hiring in Asia. There are several reasons for this adjustment - one is cost of living (and labor accordingly) is much higher in US than in many other places. Productivity may be higher in US but cost outweight.
The other reason is poor management. At first we have scandal like Enron, then we pass laws like Sarbanes-Oxley in response because " we want to protect people from corporate mischief" and then we wonder why companies find it too expensive to do business in US. Nobody seems to be able to figure out - Enron has already paid for its mischief. Anderson is also out of business for being an accessory to a lie. Investors don't need government protection - investing in market is a personal choice. If you don't know how to manage it - don't invest. Government consists of bunch of people with legal degrees, no economic understanding there. When government gets involved in economic matters - results are usually negative.
As you can figure out - I am not in construction.Alex VComment
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