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depression scare

December 17th, 2008 at 04:20 pm

So yesterday my boyfriend and I went two visit our families which was fun. His is going to Mexico and said they would bring me back something colorful. I'm hoping its something Mexican Folk arty. I love the smiling skulls and bright colors. Its totally ballin'.

Well, his mom made santa bread for my family. Its a giant loaf of bread that looks just like a santa face, I dunno how she does it. Well, while we were dropping it off at my house we ran into my mom which is a super rare occasion since she works two jobs. Well, one of her jobs is the same thing I do, adult sitter, and she said that she heard on the news that we are now going into a depression. That sometime next year or something we would no longer be considered a recession but full-blown depression.

I was wondering if anyone else heard this? I personally blame the goverment continuing bailing out big business. Yeah, I know, if they don't stocks suffer but its just the beginning of a cycle. They aren't bailing out the people and it doesn't matter if they bail out these buisness because the people still can't afford to shop there.

Maybe I'm wrong. I dunno that much about economics. I made a B in it back in high school but I totally guessed on everything so I dunno how that happened.

Well, just in case we are in for a depression I'm putting extra dedication into getting rid of my debt and building my savings. There is no way I'm gonna let 'the man' attack me during a depression. If we are in for this, I am so stomping the dude and his little suit.

Posted in Rantings | 3 Comments »

3 Responses to “depression scare”

  1. merch Says:
    December 17th, 2008 at 06:59 pm 1229540390
    1229540390

    Well, in the great depression, unemployment hit 25%. Years after unemployment was 12% - 15%. If you look at the flip side, 75% - 88% of poeple looking for jobs were employed.

    There was an interesting Bloomberg article discussing wages link to automatic increase and not readjusting during the depression. Basically wages adjusted upwardly in 20's allowing people to buy things outside their means. Then as the depression hit wages didn't decrease. This put business in a tough spot because labor usually is the largest expense. The businesses couldn't lower wages and could only fire people.

    I don't blame this as the reason for the depression, but it was an interesting comment.

  2. fern Says:
    December 17th, 2008 at 07:22 pm 1229541730
    1229541730

    I haven't heard new talk about a depression, and i'd rather not speculate about it. Depression or recession, the best bet is to pay down your debt and boost your savings, cus either way, we're in for rocky times ahead.

  3. gamecock43 Says:
    December 17th, 2008 at 07:57 pm 1229543860
    1229543860

    I have not heard this- but believe its being broadcast. There is all kind of stuff going around. Yesterday I heard on TV that we might pull out of this recession in mid- 2009. So who knows. Better just get prepared and hunker down.

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