Political free discussion on the global recession

[Garp {eng}]

Don't know how this thing is affecting you guys over the pond, but here we are getting caned by it.
Our firm that has always been strong has shed 11 workers and the rest of us have had to take a paycut to save our jobs.
Just today one of the oldest department stores announced its closure and more are set to follow no doubt.

On the up side intrest rates are falling and so are fuel prices, but savings and borrowing are being hit hard.

Oh well thats life

[Death's Shadow]

It is the ebb and flow of the markets. Most of us got screwed when the keystone of sub prime mortgages got pulled out from under us. It will take time for the bottom to be found then things will improve again.

Here in the states, if the govt would keep it's nose out of the free market system we would be a lot better off. Let the banks and businesses that made the poor choices go out of business and be sold off to other companies. Screw all this bail out crap that is going to tax us for the next several hundred years to pay off.

Right now we are looking at a 14 BILLION dollar bail out for the auto makers. WTF. If they would tell the unions that they are cutting pay by half, and produce an affordable product, there would be no need to bail them out. If the union refuses fine let them strike. With the current unemployment rate there would be more than enough people willing to cross the lines for a job.

Half of something is better than half of nothing.


I hope things improve for you over across the pond Garp, It sucks to have to take pay cuts to keep a job.

[Urumii-Previously ThePresident]

Hutchinson technology (I think thats the name) is a local company here in minnesota. It is the main employer of a few small towns, and they are laying off half of their employees due to the economic issues we are having. And many companies are freezing pay increases and/or laying off many people. It is hitting a lot of people hard... and it is very difficult to find a stable job that pays enough to pay the bills. I've been using craigslist to find odd jobs to make some money here and there. Luckily I've managed thus far.

[RedRock]

What little retirement I've saved up/contributed to fell about 10% in value, instead of growing, for the 3rd quarter of 08, and I'm afraid to see what the 4th quarter will be like. Plus, the dems here are still scheming to take my retirement away from me and put it into a bogus "social security" account, so what's there is at total risk anyway, politically! At work, my pay has been cut already by 5.5 %, and if we lose any employees, there is a hiring freeze, so everyone will do more work. I'm going to have to pick up some part-time work in January if I want to be able to afford the new Mac, AR-15, and digital camera I want, plus I need some outside income in order to be able to take deductions on my license fees, etc. Still, for the time being, I have a decent job and benefits, my family and I are healthy and uninjured, and I can certainly live without the new goodies listed above. Sadly, apparently She Who Must Be Obeyed can too, but she can't do without the fancy blender mentioned elsewhere in these forums.

[a Silly Person]

Sadly, apparently She Who Must Be Obeyed can too, but she can't do without the fancy blender mentioned elsewhere in these forums.

LOL

Funny how that works.... or maybe it isn't so funny.

[Garp {eng}]

Just hada hike in cable cost's due to the times :-( more cuts to be made in the Vinnie household :-( beer being bottom of the list LOL, sadly this may not be the end of it, but we will get over it.
I have cut back on my communications package saving my 20 quid, put a 10 per cent downer on my pension saving 10 quid per month, and we find ourselves totting up the shopping bill before check out, blimey.
As Red said we to have a hiring freeze for a least 6 months, this means we are working 10 men short and having to take up the slack Sheesh, but I'm happy to have work and income.