How do you feel?

[macms]

Originally Posted by SvilleKid

Pessimistic or realistic?? I don't know about others. I do know that currently, and looking to the next 18 months, i see nothing to be Optimistic about.

Quoted for truth.

[Da Klugs]

I agree with Cliff from a Macro economic standpoint. (I'm and economist by training plus all those nights in the Holiday Inn express. )

My point in posting this thread had more to do with looking at things from personal perspectives. 94 out of 100 of us statistically have jobs today. How you say things has a big impact on the emotional reception. Sounds different than Unemployment went up by 12% to 6% this week. If things go as predicted this might bottom out in the 90-92 range before there is much improvement. We are probably headed into "the great depression of this century". But what does that mean in todays context as opposed to the 1930's? Unless we see 25-30% unemployment it's hardly the same. Not good news for many but not sleeping on the street with starving children. I see the current process as a massive redistribution of wealth with the homeowners and stockowners taking huge hits. Effective current income will actually go up for those with jobs due to recessionary pressure on all forms of prices and historic low interest rates. It's almost as if we are nationalizing wealth in the form of deficit spending to cover the sins of the past 10 years in the financial, housing and auto markets. If the rest of the mature industrialized world wasn't doing the same thing the value of the dollar would plummet. Since the world is now intertwined more economically than at any time in the past, we are in new territory.... the how you feel territory. Unwinding and deleveraging applies to more than just the financial institutions.

[Genetic Defect]

good to have a job bad that another 35+ coworkers don't

[GoatLocker]

Originally Posted by Da Klugs

We are probably headed into "the great depression of this century". But what does that mean in todays context as opposed to the 1930's? Unless we see 25-30% unemployment it's hardly the same.

I heard some talking head today say "In the Great Depression people waited in line for apples. Today, people are waiting in line for Apple computers." I think people need to keep things in perspective. Even if we hit 30% unemployment using today's economic models, it's not the same as back in the 30's when most families had only one "bread winner". A significant portion of today's 30% would still have income via a spouse.

Hopefully, we will learn some lessons from this recession/depression and start living within our means, saving and preparing for lean times.

Myself? I'm stocking up on cigars!