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LLMom
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| Posted: Nov 11 2008 at 7:14am | IP Logged
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Everything I read says the economy is terrible and that spending is down. However, I don't see that here where I live. (in the south) In fact, more people seem to be on the road since gas is down under $2 and the stores are busy. The last two Thursday evenings I have been out around dinner time and the restaurants were full. How is it where you live? Have you noticed a difference in less people driving and shopping?
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Lisa
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Paula in MN
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| Posted: Nov 11 2008 at 7:35am | IP Logged
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I've seen many more drivers, in part due to lower gas prices. It's also hunting season! Some food prices have dropped, which is good. I don't do much non-food shopping, but I have heard that shopping has increased at Goodwill and other thrift stores, and dropped at Walmart and Target.
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 Paula
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teachingmyown
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Dh and I were talking about this last night. He was saying that he had heard that stores were going to forgo Christmas decorations this year. I said that I didn't think Americans would stop spending, other than those out of work or really on the edge. I think Americans are depressed about what they hear about the economy but not about their own finances. I also think that Americans can't stop spending. As long as they can charge it, they will buy. It is sad because if people would show some moderation than they wouldn't end up in real crisis later.
So, no signs of recession in Virginia. Our roads didn't quiet down when gas was $4.00!
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guitarnan
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Our food prices are up, by 10+ percent. Gas just went down to $1.99.
Our roads are quieter and more people are shopping at Aldi, Costco and Goodwill in our area. Our diocesan food pantry is completely wiped out, and it's not even heating bill season yet. One of our favorite restaurants has shut down.
We live in a fairly recession-proof area (DC metro area) but people don't have the spending power they did last year - those with investments took huge hits, and those who didn't are juggling higher expenses. Home values are down - not so much for me, as our house is small and old, which makes it a bit easier to resell - but the big homes have dropped in value.
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Lisbet
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Funny thing for me is that I really don't know since I haven't been out to more than the library and ALDI because we have put ourselves on a tight budget. I will say that I was tickled when I filled my van up the other day. I went in a prepaid $50, only for the pump to kick off at $47 - from E to F on less than $50 has not happened in a long time. I skipped in and gleefully took my $3 back! 
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Lisa, wife to Tony,
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mimmyof5
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| Posted: Nov 11 2008 at 8:12am | IP Logged
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We have seen some signs of the economic downturn. One large corp. has laid off 1,000 + with probably more to come. Another smaller company just filed bankruptcy which will result in about 500 jobs gone. The small drive-through coffee shop where my dd worked has let several employees go due to loss of business. If people aren't getting their morning coffee, they're feeling the crunch. A friend and her dh are having to close down their business - related to construction.
So yes, I've seen it. Outside of the larger businesses, it might not be something you'd notice until the little coffee shop or small business has a closed sign in the window.
And I agree, many Americans will keep spending as long as the credit card goes through.
Janet
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CrunchyMom
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I think that things haven't made their way down to the average consumer who isn't trying to make a large purchase on credit.
I think it is probably most apparent when you see people trying to sell their home or find a job. Many companies are initiating hiring freezes.
Dh and I were also discussing plans for the future and thinking about how much harder things could be after 2010 when the Child Tax Credit expires. Even though we only have 3 children, that is quite a chunk of change each month that we have been relying on.
In reading the economic plans on Change.gov, it seems that most of the proposals deal with helping working families and don't address families with a SAHP at all.
It really irks me that if I pay someone else to watch my children, there is a tax benefit, but if I, in essence, pay myself to do it, I'm stuck. The sacrifice involved isn't acknowledged. It appears that increasing this tax credit is high on the agenda, and given the vitriol and the plans drafted to reverse all of GWB's executive orders, they probably won't continue the credit once it expires if only because it is associated with Bush.
Plus, people might be shopping because there are so many sales. Retailers are really struggling now and are issuing sale after sale to get people to buy.
Anyway, it seems that it could be a combo of bad habits and Americans still not being able to save and people taking advantage of this time when they still have money and stuff is cheap to stock up for the future.
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Lindsay
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juststartn
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Well, around here things haven't been too bad (rural OK). The hospital did lay 127 people a couple of weeks ago, now, because people haven't been paying their bills, and Medicare/Medicaid haven't been paying as much (this I got from the OKC news).
Other than that, I've not heard of much as far as closings/layoffs, etc. DH's job is "relatively" secure (Emergency Dispatch, with the county--it also covers the city traffic, however--911). We've got his military retirement and VA disability, although those are "highly suspect" in my mind, should things really really go bad.
Rachel
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Lisbet
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Lindsay - I can't seem to find any real info at change.gov (*shudders* at the very site of that...)
Could you please link to what you are reading in the way economic plans? I know what I hear on the news, but I'd like to see it from the source.
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Lisa, wife to Tony,
Mama to:
Nick, 17
Abby, 15
Gabe, 13
Isaac, 11
Mary, 10
Sam, 9
Henry, 7
Molly, 6
Mark, 5
Greta, 3
Cecilia born 10.29.10
Josephine born 6.11.12
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Lisbet
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I found it all at barakobama.com
Thanks!
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Lisa, wife to Tony,
Mama to:
Nick, 17
Abby, 15
Gabe, 13
Isaac, 11
Mary, 10
Sam, 9
Henry, 7
Molly, 6
Mark, 5
Greta, 3
Cecilia born 10.29.10
Josephine born 6.11.12
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Anneof 5
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I was at Kohl's on Saturday and it was packed and the lines at the cashiers were all open and busy. The girl who checked us out said it had been busy like that all day. Hard to believe we are in an economic crisis!
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Dawnie
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I don't get out that much, so I haven't noticed if there are more or less people out shopping and driving. But I have really enjoyed the lower gas prices! I was able to fill up our van for under $50, too! I'm stashing the leftover cash for an anniversary gift for dh...
But one of the aircraft companies here (a major employer in our area) just announced that it is laying off 5% of its workers.  That will be tough for those families b/c it's hard to find other jobs in this area that pay as well as the aircraft companies do.
Several years ago, when my dh was working for a private company, the board of directors used a possible recession as an excuse to forgo Christmas bonuses for all its employees that year. I imagine similar things will happen now in other companies.
We do not use credit. We work very hard to live within our means, which means that our Christmas is much smaller than the "average" American family. Our children are each getting one nice present plus candy and maybe other small gifts in their stockings and maybe a small gift and candy on St. Nicholas day.
So, it's not because of the economy that we aren't spending much, it's because we're living within our means. We have a certain amount of money set aside for Christmas and gifts and we are not spending more than we have set aside, no matter how great the sales are. If more Americans would do this, we would probably not be in the mess we are in (as a nation) now.
Actually, dh and I feel quite secure with where we are right now. We are not worried about a possible recession b/c the only debt we have is our house, he works for 911 (which CERTAINLY won't have a lack of business!), and we have been used to living on a tight budget for years now. Simply put, if we don't have the cash to buy something, we go without it.
Dawn
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mellyrose
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Because DH sells home improvement products (HVAC, windows, doors, siding), his income has decreased even farther. (And I thought last year was tough) When they tightened credit, even sales that he could get would get rejected by the credit dept. If people DO have the money set aside, they're afraid to spend it.
I think because he's directly in a selling position, that we feel the change right away.
Mervyn's (dept store) and Circuit City in our area are closing down. A local Catholic store just shut down. A few of our favorite restaurants have closed. DH knows many business people in the HVAC industry who have been forced to close their small businesses. (One friend who works for a wholesaler lost 8 out of 10 of his top clients bc they shut down in the last few months.)
The food banks have seen an increase in need, but decrease in donations. I know we haven't been able to donate to our parish food bank in a while, and I feel bad about that. Our local United Way has said their donations are seriously curtailed as well -- they depend on payroll deductions for almost 80% of their income and people have stopped donating. They said the average donation was $10/paycheck.
At the same time, our benefit package will cost us $1600 more next year than it cost us this year. Benefits alone will be more than $1400/mth and we don't have fancy benefits! We really considered dropping long-term disability (which almost doubled from this year) to save $80.00/month but worried if something happened to DH. We've already had paychecks this year where less than $10.00 was deposited bc the rest went to benefits.
I really don't know who does the buying for this large multi-national corporation, because it seems to me they get the worst rates for everything. I wonder if they will be the next big retailer to fail because the corp executives are greedy.
For the first time in 8 years, I MUST re-enter the workforce. Actually, for the first time since I met DH 14 years ago. Not long after we met, I was laid off and started helping in his business, and we've never needed my salary. I did work before kids, and enjoyed it - - but here I am at 41 and if I want to keep my modest home I have to go to work.
Ok, I'm just ranting now, so I'll stop.
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Melanie in AZ
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Dawnie
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Wow, Melanie...what you are facing is scary. It makes sense that those in sales position would feel the crunch first. I remember when my dh worked for a home improvement retailer, how much his salary depended on whether or not people were buying new homes and doing big improvements. It was kind of a roller-coaster ride b/c we never knew when he was going to have a "good" month (and sell a lot) or a "bad" month.
I can't believe how much you're paying for benefits! That is nuts! It's too bad you dh's company doesn't take better care of its employees.
Dawn
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4Real Forums : Tea and Conversation
Topic: economy where you are
