Re: Economy - mixed signals
Here is a loooooong winded thought on that,
Sure there are people who are spending, and for all intents and purposes it looks like there isn't a thing to worry about.....to some.
That's the very thing that'll get people into financial hardship, spending at a time when all things point to a crumbling economy and when a devastated national financial system lurks in the fog up ahead which has not quite become a reality for them....yet.
They still have their jobs and they still are not really paying attention to the growls and grumbles of that approaching monster.
I have continually been employed for myself and others for 40 plus years in various sectors of the workforce.
Everything looked good and there were no real indications of any problems other than the seasonal slowdowns as usual.
I was laid off just at Newyears, after being told that I would be one of the last to go if any problems came up.
I was one of the last 8 to go. There are 7 left working out of 70.
While not having worked since the 19th of December other then a few days, I was not told 'til January that I had no job.
My loss.
There litterally are thousands like me who had similar treatment.
Secure one day, and jobless the next.
The indications that something like this could happen, were there for anyone to see to at least take some notice and provide for protection against that eventual result.
I feared with a gnawing urgency that a economic disaster could well be approaching a few years back and that I should start saving and putting away funds for the time that could come when jobs and a weak economy would crumble like dry cookies under a boot.
The last five years have put me in a reasonably safe financial situation, through saving and carefully building for an unsure future.
Lucky me!
I had no clue that a recession would come this soon, and with the severity that it hit with when it did!
I am sure there is millions who do not think ahead and will experience the same disasters when they hit, except,.....that they WILL be devastated and that there'll be NO jobs available.
I am aware that there is groups of people in other areas who are totally not affected by it (yet?) and live like there is no tomorrow, nor are they aware of (or are sticking their heads in the sand) that there is indeed a crisis building, and can't really fathom the concept of eventually being broke and busted.
I don't worry so much now, I mostly live for the moment and coast on lucky guesses and savings, sofar so good.
I am not going to lose my home, and staple foods are always stocked and money was saved long before the problem grew into the proportions that we are experiencing up here today, but I don't know how long I can keep that up if the economy gets worse or lasts for an exeptionally long time.
The economic situation is itchy and scratchy everywhere, and I can't see much improvement on the way (purely my thought only) even though the governments of both our countries have scrambled to the occasion and are trying to salvage what can be salvaged. (That's right, I think irreversible damage has already been done and has surprised and confused even the fearless leaders in the wheelhouse.)
The folks who are still spending and living it up must either be well off, have lots of credit or are just not worried about it.....yet.
If I could offer a suggestion, I would definitely say; From now on?...seriously!...Don't spend needlessly,....save every penny you can, reduce your debt, don't buy anything on credit, and harder yet, reduce your debtload as fast as you can and still stock up on anything you can think of for your sustenance and well being (except peanut butter
), because this recession will turn depression (again my guess) and is not going to go away anytime soon, Obama or not.
It WILL get worse, that's what I believe.
I think it hasn't even come around to a real culmination of the initial downturn yet, in other words we are still beginning, not at the end of it.
And because I live up here,..
Don't let the geographical difference between Canada and the US stand in the way of sound judgement, as we all are in the same boat with rotten stringers and transom economically,...it'll float and drive, but it isn't safe against bigger waves.
I feel that it will be a "worldwide" problem pretty soon.
Take care,
PH
