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Is anyone else out there scared about the economy?

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Quote:
Originally Posted by starchild View Post
Is produce going up in other parts of the country?
Yes, and the price of flour and everything made with it has increased too. All the pizza places around us raised their prices because of it. It is crazy! I am really hoping things start to get better, but I think they will end up getting worse before they get better. I'm happy to still have a job right now, and I will be glad once the wedding is over since I won't be stressing out about trying to save money for that when I am spending so much more on everyday things like gas and groceries.

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Quote:
Originally Posted by beachbride08 View Post
Yes, and the price of flour and everything made with it has increased too. All the pizza places around us raised their prices because of it. It is crazy! I am really hoping things start to get better, but I think they will end up getting worse before they get better. I'm happy to still have a job right now, and I will be glad once the wedding is over since I won't be stressing out about trying to save money for that when I am spending so much more on everyday things like gas and groceries.
I haven't noticed the flour increase but I'll check it out next time I go to the store. That's crazy!!

I feel for you guys with weddings this year and next because if it's tough for you right now it probably is for your guests too sad.gif

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I am really hating the economy right now. My husband was directly effected by it 3 weeks after we returned from our wedding. We knew things were bad at his job (Fleetwood motor homes) but thought cause of what he did and how long he did it, he would be ok. We were wrong. They laid off 300 people in one day and those that still have thier job are off for all of this month. HE keeps holding out hope that he will be called back. I really just want him to either go back to school (he has started the ball rolling on this) or go find a job. I doubt he is going to get called back within the next 6 month, which is what he needs to keep his pay and senority. We are ok right now. When we got pregnant with our daughter in 05'-06' we did some major bill paying so I could stay home with the baby. Our bills are at a minimum so even if he has to take a job paying $4-$5 less an hour we would be ok. We would just be doing less fun stuff or I go back to work, which I am ok with!

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In the depression, people couldn't pay their mortgages, even though they had money in the bank - the same bank that held their mortgage.

 

They went to their bank and said, "Use my money that you have there to pay my mortgage".

 

The bank said, "We don't have your money anymore and you still owe the mortgage. What? You can't pay your mortgage? Then we own your house now."

 

So they lost their money AND their homes. That's why people used to do everything they could to pay on the mortgage until their homes were paid for. At least they would not be homeless. In our generation, the home is looked on as an investment, so when people build up equity, they turn around and borrow more against it, instead of continuing to build it up until they are debt-free. That's the scary part about the housing bubble we just had. There are going to be a lot of homeless, jobless people.

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I have been grocery shopping awhile, but I will check out the produce section when I go.

 

Jamy- that is a crazy amount to pay for tomatoes!

 

I remember I accidentally got $10 grapes from Wild Oats and freaked out. I had no idea grapes could be that much and didn't check the price. I was not happy.

 

Steph- Sorry about your hubby. I hope he gets a call soon!

 

Gas has gone down by .20 cents, which is good. I have to commute 52 miles roundtrip each day and I have noticed the difference in pricing for sure. I never use to care what gas prices were and now I have no choice but it hurts to go to the pump.

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I def feel it. I'm a personal injury lawyer and we mainly subsist on motor vehicle accidents. Well b/c the economy is so bad, no one is reporting accidents b/c their premiums will go up and no one can afford it. So no reported accidents means zero jobs for us. I think my firm is going to close down. I'm really scared b/c I can't just go apply to another firm, all the firms I know are laying people off that have way more experience than I do.

 

I am trying my best to save as much as possible in case something goes wrong.

 

The gas is astronomical! We spend close to $500 a month just for the car. I don't have a car b/c we are trying to be more green but my train ticket keeps going up. I pay $300 a month for a train ticket so I def feel $800 a month coming out of my wallet just for transporation.

 

The milk prices here are obscene. And they are always doing reports in the papers on how mom and pop stores are charging whatever they feel like it for milk when there is a clear federal mandate that says you can't go over "x" amount of dollars. Corn is also through the roof.

 

But no matter what I feel lucky b/c I still have a roof over my head and food to eat. Let's just hope things turn around for everybody.

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Quote:
Originally Posted by Emily&Matt View Post
In the depression, people couldn't pay their mortgages, even though they had money in the bank - the same bank that held their mortgage.

They went to their bank and said, "Use my money that you have there to pay my mortgage".

The bank said, "We don't have your money anymore and you still owe the mortgage. What? You can't pay your mortgage? Then we own your house now."

So they lost their money AND their homes. That's why people used to do everything they could to pay on the mortgage until their homes were paid for. At least they would not be homeless. In our generation, the home is looked on as an investment, so when people build up equity, they turn around and borrow more against it, instead of continuing to build it up until they are debt-free. That's the scary part about the housing bubble we just had. There are going to be a lot of homeless, jobless people.
Good points. I also feel that people are buying houses way above their means and when they cannot afford them (loss of job, or just realizing that they never had the cash for such a big house) then we have to feel pity for them because they are losing their house.

Just bills for a house right now are going up a lot every month. Gas is up. Hydro is up.

I think this will last until the end of the year, by February next years things will have stabilized.

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DH & I were thinking of moving into a luxury apartment complex this fall. We figured his job is secure and Iâ€m getting new employment soon so things will be perfectly fine for such a change.

 

Except…

BASIC weekly groceries have turned into $70 (originally $35-40) and filling up my tank is now at $50 (originally $25)

 

Then, my father got "fired" yesterday. It's an indefinite layoff I guess you can say; He's been with the company for close to 15 years so they wanted to at least give him a severance package and be able to collect unemployment… Heâ€s 57 and only had a few more years to retire. I canâ€t imagine how difficult itâ€s going to be for him to find something new.

 

Needless to say our plans have changed and we are focused on just getting through these upcoming months with enough saved in the bank in case something does go wrong for my parents, my brother (who works in the same company as my father), or us.

 

I was even thinking about forgetting my job search and sticking with my “secure†job. But my dad told me to strike when the iron is hot because not even a secure job is guaranteed in these times. frown.gif

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Quote:
Originally Posted by Nrvsbride View Post
I def feel it. I'm a personal injury lawyer and we mainly subsist on motor vehicle accidents. Well b/c the economy is so bad, no one is reporting accidents b/c their premiums will go up and no one can afford it. So no reported accidents means zero jobs for us. I think my firm is going to close down. I'm really scared b/c I can't just go apply to another firm, all the firms I know are laying people off that have way more experience than I do.
Thats exactly where I am in the UK.

Diesel has gone up to £1.31 a gallon which is hideous as a few months ago it was £0.96!! A loaf of bread can be £1.20!! I mean ffs wages aren't going up.

If I get laid off I'll be ok for a few months but I'll end up working in a call centre just to try and get a wage in.

If it gets worse in the US that is gonna have a major backlash on us 2.

Totally randomly I just saw and old mate and the first thing she said is i'm being made redundant!! I think its is worldwide - I blame Dubai lol Mainly because the oil is a horrific price now so that they can develop their country into some super holiday place!!

It'll even out but I think its gonna be next year at least (I hope before!)

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Well I live in the detroit area and both my DH and I work in the automotive field. I learned along time ago that their is no "safe"' job and just be thankful that you still have one. Several people in our sub(new sub) have already lost their homes, one is one of DH's best friends that went to our wedding.

 

We dropped down to one car, taxes keep going up but our home value keeps going down, gas prices are crazy high and of course grocery shopping is much more expensive as well. But for now we are still making it each month and just hope that we are able to continue to, to see things turn around for the better.

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