Author Topic: What Most Concerns You About The Current Economic Crisis?  (Read 8250 times)

Offline David In Indy

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What Most Concerns You About The Current Economic Crisis?
« on: October 10, 2008, 02:34:39 am »
There are so many concerns aren't there? So many different things COULD happen. I have listed 6 of them but there are many more. What concerns you the most?

Feel free to gripe and vent here if you wish. We are all friends and perhaps we can help each other. These are scary times right now for everyone.

My main concerns right now is my job, and a potential global recession which I think is probably unavoidable at this point. Hopefully it won't be as bad as some are predicting. I'm not worried too much about doom and gloom at this point though. But some of you may disagree with me.
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Offline Kerry

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #1 on: October 10, 2008, 08:19:43 am »
I'm a government employee, so I'm not overly concerned about my job security. And I've never been into playing the stock market. Well not entirely, anyway. I have approx 1,000 shares in one company only. I hope they're okay.

I was talking to a friend last Wednesday, who told me that a mutual acquaintance, here in Sydney, has lost approx $800,000 on the stock market.

My major concern is the value of my superannuation. I have been employed by the same employer for nearly 29 years and plan on cashing-in my superannuation at the end of 2010. I hope everything will have steadied by then. Every week, for the past 29 years, I have been contributing 9% of my salary to my superannuation fund. My employer matches that by a further 6%. This combined 15% is invested by my superannuation fund both here and overseas. It's a government fund and they invest cautiously, so I hope my investment will be safe. I guess I'll find out in 2010!
     
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Offline optom3

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #2 on: October 10, 2008, 08:51:53 pm »
I have so many fears it is actually quite difficult keeping a lid on them. We have already had my husbands pension scheme go bust after 20 plus years of contributions. We moved here to start again, and I am scared witless that the business will go bankrupt, because if it does, not only will we lose absoloutely everything, but we will be thrown out of the country as well. No business, no Visa.
It is a wave of fear that almost paralyses me.$1.7 million in business and house down the pan and back to England in a recession there, but with no house or jobs.

I am having to literally go hour to hour never mind day to day. Each day we open for business is a another one less to worry about.  I am also having to cope with borrowing money from my parents, which is hard at my age. It means they are now worried about us all as well.

In fact I am just one big worry, full stop.  It gets very wearisome sometmes.Lurching from all the crisis with my son, stop, draw breath and now this. I just want some peace, for a little while !!!

Offline Kerry

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #3 on: October 10, 2008, 09:03:11 pm »

I'm so sorry to hear that, Fiona. I hope everything turns out okay for you in the long run.
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Offline Front-Ranger

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #4 on: October 11, 2008, 06:33:53 pm »
I am most worried about my friends, especially those who are in poor health, unemployed, or overspent. Compared to the problems of some of my friends, I have nothing to worry about really.
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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #5 on: October 13, 2008, 01:30:41 am »
there is no option for: I am not overly concerned...

Offline Lynne

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #6 on: October 13, 2008, 01:47:03 am »
I am going to wait awhile to vote.

I do not fully understand the present crisis, and I understand even less about how the bailout package is supposed to alleviate anything in all but the short term.

My main economic concern is related to Americans being able to compete effectively in a global economy, particularly with China and the Pacific Rim).  I believe all indicators put our children woefully behind in math and sciences, which leads to being less able to compete in technology.

But to me, this is a social problem.  Our way of education needs to be revamped.  I do not see an easy way to do that without a major shift away from an 'American' lifestle.  Call me an alarmist, but I believe that after only 200+ years, we are seeing the beginning of our own decline without some drastic changes or interventions.
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Offline Artiste

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #7 on: October 18, 2008, 07:51:54 pm »
Certainly The Current Economic Crisis is  social problem(s).

It is also much more.

For instance since credit cards cos. have lost, a person (some it is said) who paid regularly the mortage and still does and could, he or she will be without a house.  We know that half of credit cards are owned by criminals (some of whom stole them or made some), but why should a decent person, citizen in North America pay for those criminals, by the lost of his/her property and house ?

Did you hear?

Au revoir,
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Offline HerrKaiser

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #8 on: October 27, 2008, 07:33:49 pm »
Of the few who voted, the majority checked "other", as I did.

What is missing from the list the concern that the governement, particularly if BO wins, will force the nation toward greater socialism if not worse. the democrats believe that the government, rather than individuals, solves problems big and small.

In teh interview with Bill OReilley, BO stated "the peole want a president who solves their problems". He may speak for some, but the majority of Americans do not feel that way at all. That BO believes this to be the case is a major cause for concern; he really does not know this country. His limited experiences may lead him to make such an absurd proclamation, and his lack of experience in matters that affect the vastness of the population only will serve him poorly should he win. And, his repetitiive answers to most economic ills is more socialist programs.

The more we move toward widespread socialism or communism, the more the question list becomes a mute set of points. You can forget about bank accounts, home equity, stock portfolios, etc. Just look to papa Obama for all your needs.

Offline delalluvia

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #9 on: October 27, 2008, 07:56:17 pm »
I am one of the working poor, with no investments nor 401K, no home, so the only thing that worries me is the owner of my company - it is a private company - and I daresay he is wealthy, has investments, multiple properties, 401K retirement and who knows what all other tax shelters?

The fact he might go under and cash out his company to save himself is worrisome, dumping us all on the job market when things are so tight.

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #10 on: October 29, 2008, 08:49:53 pm »
I am one of the working poor, with no investments nor 401K, no home, so the only thing that worries me is the owner of my company - it is a private company - and I daresay he is wealthy, has investments, multiple properties, 401K retirement and who knows what all other tax shelters?

The fact he might go under and cash out his company to save himself is worrisome, dumping us all on the job market when things are so tight.

you can come stay with me and be a bohemian artist!

Offline delalluvia

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #11 on: October 29, 2008, 08:53:31 pm »
you can come stay with me and be a bohemian artist!

That would be awesome!!!  ;D

But I'd think I'd get better handouts living under the Trinity River Viaduct.  ;)

injest

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #12 on: October 29, 2008, 08:56:01 pm »
That would be awesome!!!  ;D

But I'd think I'd get better handouts living under the Trinity River Viaduct.  ;)

WHAT!!?

I got a freezer full of beef! and fresh veggies!

I got homemade blackberry jam!!

HUMPH!


Offline delalluvia

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #13 on: October 29, 2008, 08:58:48 pm »
WHAT!!?

I got a freezer full of beef! and fresh veggies!

I got homemade blackberry jam!!

HUMPH!



Oh, you said live, you didn't say meals were included!!!  I'm in!  Send me a map!  ;D

injest

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #14 on: October 29, 2008, 09:04:18 pm »
Oh, you said live, you didn't say meals were included!!!  I'm in!  Send me a map!  ;D

anyone comes in MY house, ain't leaving til they are stuffed too full to waddle to their car...we got a dolly right by the front door to roll people out on...

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #15 on: October 29, 2008, 10:24:31 pm »
What bothers me the most doesn't have too much to do with me. Not wealthy by any stretch, but happy to have our little cow and calf operation. What I worry about is young couples starting to raise families and unable to buy homes. For many it is impossible. Many baby boomers bought real estate when it was affordable. Upon retirement they made a bundle. They were able to help their kids (down payment, etc) get into homes. Those people are disappearing, and there is no way a young couple can come up with any sort of down payment, much less make payments, on a $300,000 home. And in my part of the country, that won't buy ya' much.

The other thing that bothers me is young peoples priorities. I know people who make good money, have $1000 a month payments for trucks, boats, etc., and don't have health insurance. I pay $990 a month for insurance coverage for Steve and I. That money could go toward 'toys', but we have our priorities. Those 'toy' priorities for lots of folks I know bother me.

Brad

injest

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #16 on: October 29, 2008, 10:43:16 pm »
What bothers me the most doesn't have too much to do with me. Not wealthy by any stretch, but happy to have our little cow and calf operation. What I worry about is young couples starting to raise families and unable to buy homes. For many it is impossible. Many baby boomers bought real estate when it was affordable. Upon retirement they made a bundle. They were able to help their kids (down payment, etc) get into homes. Those people are disappearing, and there is no way a young couple can come up with any sort of down payment, much less make payments, on a $300,000 home. And in my part of the country, that won't buy ya' much.

The other thing that bothers me is young peoples priorities. I know people who make good money, have $1000 a month payments for trucks, boats, etc., and don't have health insurance. I pay $990 a month for insurance coverage for Steve and I. That money could go toward 'toys', but we have our priorities. Those 'toy' priorities for lots of folks I know bother me.

Brad


I have a friend that was offered one of those subprime loans back a few years ago...no down payment, no background check...she walked away...said it 'smelled funny, buying a house wasnt' supposed to be like that' (she had gone in to see what she needed to do to get into a house, her credit isn't perfect)

now she is feeling like a fool. People that try to do right get screwed.

she has a better job and feels more secure..she went back to see about a loan a couple of months ago? they told her she would need HALF down. WHO THE HELL can come up with HALF?

if she had taken the subprime, the gov would ride in and protect her...but since she tried to do the right thing she is unlikely to ever have a home.

Offline underdown

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Re: What Most Concerns You About The Current Economic Crisis?
« Reply #17 on: October 30, 2008, 03:42:24 am »
I voted 'potential global recession'.

Because that covers all the other answers, as well.