Comments on: Recession protection?

By: Susan

Susan — Thu, 17 Jul 2008 23:43:13 +0000

I am going to agree and disagree with most of the comments so far.
The truth from my vantage point is that things look very bleak for the US in the not too distant future, but we only have ourselves to blame.

$7/ gallon gas - bring it on. Nothing will save the polar bears more quickly.
It will also allow for new innovations in energy that we desperately need.

Want to blame huge corporations? How did they get that way - consumer purchasing!
Wal-Mart stiffed many of their workers for ALWAYS THE LOW PRICE. Consumers ate it up. At that time did consumers care about ethical standards? I’m not sure most consumers care now.

Remember the “Buy American” campaign in the 80’s. Now we understand why.

We have had numerous opportunities to take a different path in the last 30 years- and we will pay the price for the road we collectively chose.

No one has even mentioned what happens with our food supply. People in general are so disconnected from the origins of the food they eat - like it magically appears on the grocery shelf. Where did that steak come from? Was it a healthy cow? Could it walk before it was slaughtered?
You can’t trust that fresh vegetables and fruits don’t have ecoli unless you grow them yourself. I can’t even read the ingredients in processed food.

But in the end, it is due to choices we made. How all this turns out is up to all of us, as well.

By: Steve Braker

Steve Braker — Mon, 30 Jun 2008 00:56:35 +0000

I am appalled at our generations lack of discipline. My father
owned a 7 stool restaurant throughout the “Great Depression” managed
to survive by selling nickel hamburgers while overcoming paralysis
from polio. My mother raised chickens to survive World War II. They
kept building their restaurant business by only taking money for the
family out of the juke box in their now 100 seat 1960’s style supper
club and bar. During my childhood I thought they were rich because in
their dresser drawer were never cashed payroll checks made out to
both Mom and Dad instead of cashing them all of their money went to
build the business. With a new fully booked 24 room motel and now
famous brand new supper club swarming day and night with customers
times were finally flush. My Dad decided that he and Mom could go to
the bank and cash their payroll checks. The banker said I cannot cash
these checks they go all the way back to 1934 this 1964, my Dad said
their from our account the taxes have been paid, the social security
has been paid give me my money after a bit of haggling my parents
had $80,000.00 1964 dollars in cash. Now life was good with new
Cadillacs, vacations to Vegas, lakeside cabins, and financial security.
Their generation built wealth the old fashion way they ran a
great business, worked round the clock, saved their money for
reinvestment and then enjoyed retirement.

By: Charles

Charles — Wed, 18 Jun 2008 20:53:20 +0000

I agree with the comment on outsourcing, but that’s not the fault of the American populace - that’s the fault of the boards of American corporations. They’re the ones that are responsible for it. They’re the greedy ones looking to squeeze ever higher profit margins out of quarterly revenues. Only in Corporate America could a record 11 million dollar profit (such as Exxon Mobil had last quarter) be called a failure and the stock “punished” for it. Greed, I’m convinced, is a mental disorder now, and it afflicts executives more than anyone else.

Executive pay is a major problem in America right now. It makes no sense for these “decision makers” to carry home $9 million, $10 million, $12 million AND be the major shareholders of corporations - particularly the oil industry - while the rest of the country earning $100K or less has to struggle along. Executives that fail to improve a company are given the well-known “golden parachutes” - gifts in the millions of dollars.

If folks are wondering where all the money is, look at the heads and majority stockholders of major corporations. It’s basically a rich guys’ club. They don’t just buy and sell stocks, they buy and sell political power and favors.

There’s nothing wrong with running a company for profit, but too much has been done in the name of profit to try to protect executives and even entire industries. It must stop TODAY.

By: Ann

Ann — Fri, 21 Mar 2008 14:44:44 +0000

I would like to post a positive comment, even though I agree with most of what has been said. I feel that we as Americans are the 300 million people in this world that stand to benefit from the effects of over-consumption - namely, because we have “been there, done that.” We are as a society starting on the downswing of the pendulum - finally, the realization has come for many of us in this country that we CANNOT continue to consume in the same way - which countries like China and India CANNOT appreciate, because they are just entering the over-consumption phase in their respective countries after years of material deprivation. I think we stand to gain as a country from this collective experience. Who hasn’t looked at their house and its contents and said, what am I going to conceivably do with all this stuff? Our job is now to train all of our children to reduce, reuse, recycle.

By: Broham

Broham — Thu, 31 Jan 2008 23:08:39 +0000

It’s funny, the best minds writes and set all the laws and guidlines in reguards policies of business. (Do they)? Everything is going in the worng direction. From employment, Health care, Gas, Real Estate to Education. I can keep going for ever. The american people are no longer protected. Our leaders no longer stand between the citizen and harms way.

The problem is, the Bottom Line writes law in a coporate society. Have you ever stopped to think? If Harvard, Yale, Stanford, MIT, Oxford, and the rest of the universities are for the best and the brightes. Then maybe Our leaders are sleeping at the wheel on purpose. Either by blind eye, lack of back bone or just don’t care.

Even a C+ student can look at outsourcing, it’s scale and know how it’s going to effect the USA in the long run. It’s the same with the Mortgage industry and the same with Education. I can go on and on for ever.

Everything that made America a world power is under attack EVERYTHING. The Dunky and Elephant are the same and the people are ignored because the new king of the jungle is a stock report that must produce a good bottom line. (So, Is every single topic this country is faced with happen-stance?

By: Cynthia

Cynthia — Wed, 23 Jan 2008 19:24:49 +0000

“Pitch ins” are a great idea! As one blogger stated: “Be kind to one another. We are facing tough economical times.” This attitude helps ease frustration and is actually very “scriptural.”

Presently the federal folks are contemplating sending each household a check. They anticipate we will go out and spend. Our spending is supposed to stimulate the economy. I will put mine in a money market account that pays interest. That may not sound patriotic but I think that, in looking out for my family and our future, the interest might buy a loaf of bread or a gallon of milk; while the $1600.00 earns food for my family I also have the peace of mind that it’s there to make a mortgage payment if necessary.

Find the highest paying money market accout that lets you write 3 checks a month and has a lower minimum balance requirement. Some require only 500.00 minimum. This will allow us to increase what the government gives us without tying the money up. It adds to our personal cash savings, something most Americans have neglected.

IT IS NOT TOO LATE! Get started now on an AGRESSIVE expense cutting, debt paying, cash saving plan. SAVING is our “salvation.” SPENDING is what got us in this mess to begin with! Again, this may not sound patriotic but if the federal folks would follow this plan our economic situation would not be the present crisis.

“God keep us and give us wisdom from above and help us show His love in these troubled times.”

By: Ron

Ron — Wed, 23 Jan 2008 00:00:09 +0000

Unfortunately I started a little too late! When I first heard of the housing market falling, I did become allarmed. I knew for years, that here in Indiana, homes on the market were way over-valued and so many people were being led to believe that they could afford their homes. Now look what’s happened! The few things I did do, is I started saving all my change, stashing back cash when I have it (although not much), I moved another roommate in and I shop at discount stores only(not Walmart). When practical, I ride to work with co-workers, I don’t travel to see my parents as much as I used to (I’m sure they don’t like that, but they understand), I work over-time when it’s available and I’m working fast and hard to pay down my credit card debt. The one big story today that really hit home, was when the feds cut the rate to stave off any further declines in the “world” markets (economies). I think that might have been premature and not carefully thought out. The very idea, that practically the entire world bases their economy on our own by borrowing money from us at a low rate seriously bothers me. I think because I don’t understand all the details. It just seems wrong to me. Why are we financing the very countries that are taking away our jobs? It dosn’t make sense to me, I just hope it gets better and really soon! Maybe we should consider having pitch-ins with our neighbors so we can afford to eat?

By: Cynthia

Cynthia — Tue, 22 Jan 2008 20:12:40 +0000

I agree that we have outsourced ourselves way beyond that which is wise! If China cashes in on everything she owns in our country, what then? With American companies sending our jobs to Mexico, how are we supposed to survive? Everytime I fill up my gas tank I have to ask “what gets cut from the budget this week so I can afford to drive my child to school or to the doctor’s office?” AND WHO IS GETTING THE MONEY I AM SPENDING EVERYTIME I DRIVE OUT OF MY DRIVEWAY? Why don’t we crank up a few of our oil rigs we have and supply our own oil instead of depending on countries that murder their own citizens? It sickens me that we support countries
that use our money to strenthen there ugly ugly regimes of murder. God help us use our brains and start taking care of America so She can be strong enough to sustain Her own and to help countries that really need the help. We are in big trouble and those who have their debts paid off and cash reserves built up stand the best chance of making it through this storm.

By: Bukhari

Bukhari — Tue, 22 Jan 2008 19:29:34 +0000

God help America in these times when W wants to spend even more in lost wars around the globe!

By: Ryan

Ryan — Tue, 22 Jan 2008 18:17:15 +0000

I think that Charles makes some good points, sans the christian ranting.

Americans consume too much. Nothing you buy is produced locally, unless it’s “organic” or “farmer’s market” produce. This is not sustainable.

People drive too much, but it’s unavoidable in a country that was planned (or unplanned) for the automobile.

And wake up. Gas is CHEAP in the states compared to almost everywhere else on the planet. Here in Holland it is $8 a gallon.

My plan for a recession/depression is to stay in Europe and earn Euros.