View Poll Results: What is your financial situation?
Have money, but don't want to spend!
29
31.18%
Don't have money to spend!
24
25.81%
Owe money!
28
30.11%
What slow down?
12
12.90%
Voters: 93. You may not vote on this poll
What is your financial situation? And what do you think about the economy?
02-18-2009, 04:01 PM
#16
banned
iTrader: (13)
Join Date: Oct 2007
Location: Walnut Creek Ca..
Posts: 2,746
Car Info: heel'n toe da hoe...
Quit work / money ? I've had it before i'll have it again.
My goals?
Finish my car
Restore my newest car.
Buy more stock/property/finish my house
Finish my motorcycle collection
Raise my child soon
Enjoy what life has given me
That's 2009/2010 for me
Its going to get worse before it gets better.
I plan to keep taking advantage of that
My goals?
Finish my car
Restore my newest car.
Buy more stock/property/finish my house
Finish my motorcycle collection
Raise my child soon
Enjoy what life has given me
That's 2009/2010 for me
Its going to get worse before it gets better.
I plan to keep taking advantage of that
02-18-2009, 04:37 PM
#17
Quit work / money ? I've had it before i'll have it again.
My goals?
Finish my car
Restore my newest car.
Buy more stock/property/finish my house
Finish my motorcycle collection
Raise my child soon
Enjoy what life has given me
That's 2009/2010 for me
Its going to get worse before it gets better.
I plan to keep taking advantage of that
My goals?
Finish my car
Restore my newest car.
Buy more stock/property/finish my house
Finish my motorcycle collection
Raise my child soon
Enjoy what life has given me
That's 2009/2010 for me
Its going to get worse before it gets better.
I plan to keep taking advantage of that
02-18-2009, 04:52 PM
#19
Registered User
iTrader: (15)
Join Date: Jun 2003
Location: the Bay!
Posts: 1,030
Car Info: Eq TuNeD vF43 bUgEyE
Age: 24
Occupation: Inventory Control/Warehouse Supervisor
My company isn't doing as good as it use to, we distribute blank CDR/CDRW/DVDR/Blu-ray/Floppy. Ever since IPods came out, business has gone down. But since the begining of this year, business has been pretty good, maybe IPods are getting too expensive for some people in this economy
. So stop buying MP3 players/IPod so I can feel more secure about my job. 
Prediction on recovery:
Occupation: Inventory Control/Warehouse Supervisor
My company isn't doing as good as it use to, we distribute blank CDR/CDRW/DVDR/Blu-ray/Floppy. Ever since IPods came out, business has gone down. But since the begining of this year, business has been pretty good, maybe IPods are getting too expensive for some people in this economy
. So stop buying MP3 players/IPod so I can feel more secure about my job. Prediction on recovery:
02-18-2009, 05:27 PM
#20
02-18-2009, 05:37 PM
#21
27, Banker - I've been through three mergers in the past three years. Last year I was actually displaced (aka canned) and then re-hired to a similar position (super lucky! 
). Many of my friends and family have lost jobs and I don't see signs for a fast recovery anywhere... especially with the leaders in Washington printing money out of thin air to any Joe, Bob, Dick and Harry that whines enough.
One thing everyone shoud have, is a back up plan. Try to have a savings and plan b for when things drop out from under you. You have to be ready as best as you can for the unknown.
). Many of my friends and family have lost jobs and I don't see signs for a fast recovery anywhere... especially with the leaders in Washington printing money out of thin air to any Joe, Bob, Dick and Harry that whines enough.One thing everyone shoud have, is a back up plan. Try to have a savings and plan b for when things drop out from under you. You have to be ready as best as you can for the unknown.
Last edited by subie OCD; 02-18-2009 at 05:40 PM.
02-18-2009, 05:45 PM
#22
Former Vendor
Thread Starter
iTrader: (52)
Join Date: Nov 2002
Location: San Jose, CA
Posts: 6,912
Car Info: Evo X
what the fed thinks...
http://money.cnn.com/2009/02/18/news...ion=2009021816
http://money.cnn.com/2009/02/18/news...ion=2009021816
Originally Posted by CNNMoney.com
NEW YORK (CNNMoney.com) -- The economy stinks, and the Federal Reserve wants to tell you all about it.
The Federal Reserve, in painting a dour picture of the current situation, announced on Wednesday new initiatives to increase disclosure of its economic forecasts and unprecedented lending programs.
Federal Reserve Chairman Ben Bernanke, in a speech in Washington, D.C., said the central bank will begin to publish quarterly long-term economic projections. The outlooks will offer six-year forecasts on unemployment, inflation and economic output. Previously, the U.S. central bank only made public its estimates out to three years.
The first long-term forecast, released Wednesday, said that the economy would grow 2.5% to 2.7% in the several years after 2011. The Fed also predicted that the unemployment rate would fall to 4.8% to 5% and inflation would moderate at about 1.7% to 2% during that time span.
The forecast for 2009 was far less rosy. The Fed expects gross domestic product to decline by 0.5% to 1.3% in 2009, and the unemployment rate to rise to 8.5% to 8.8%. GDP fell by 3.8% in the fourth quarter of 2008, and unemployment stands at a 17-year high of 7.6%.
Consumer prices this year are expected to rise just 0.3% to 1%, well below the Fed's perceived target of 1% to 2%, according to the Fed.
Bernanke said that increased clarity about the Federal Open Market Committee's forecasts will ultimately help improve economic conditions.
"This further extension of the quarterly projections should provide the public a clearer picture of FOMC participants' policy strategy," Bernanke said. "Also, increased clarity about the FOMC's views regarding longer-term inflation should help to better stabilize the public's inflation expectations, thus contributing to keeping actual inflation from rising too high or falling too low."
Easier access to Fed lending data
Bernanke said that the central bank will improve disclosure amid heightened public concern about the enormous expansion of its balance sheet.
Accordingly, the Fed will unveil a new Web site in the coming days that will make clearer the public information the Fed already makes available. The Web site will give enhanced explanations of the recent Fed actions to boost lending and will analyze their effect on the financial markets.
In addition, Donald Kohn, vice chairman of the Federal Reserve Board of Governors, will head a committee to review the Fed's disclosure policies related to its lending practices, Bernanke said.
The Fed chief said the moves were made to improve public access to information.
"The presumption ... will be that the public has a right to know, and that the nondisclosure of information must be affirmatively justified by clearly articulated criteria for confidentiality," Bernanke said.
"I firmly believe that central banks should provide as much information as possible, both for reasons of democratic accountability and because many of our policies are likely to be more effective if they are well understood by the markets and the public," he added.
In the meantime, Bernanke sought to assure the public that the credit risk of the Fed's lending is "extremely low," saying that the Fed's assets pay interest, which generates a "significant" source of income for the Treasury. To top of page
First Published: February 18, 2009: 1:25 PM ET
The Federal Reserve, in painting a dour picture of the current situation, announced on Wednesday new initiatives to increase disclosure of its economic forecasts and unprecedented lending programs.
Federal Reserve Chairman Ben Bernanke, in a speech in Washington, D.C., said the central bank will begin to publish quarterly long-term economic projections. The outlooks will offer six-year forecasts on unemployment, inflation and economic output. Previously, the U.S. central bank only made public its estimates out to three years.
The first long-term forecast, released Wednesday, said that the economy would grow 2.5% to 2.7% in the several years after 2011. The Fed also predicted that the unemployment rate would fall to 4.8% to 5% and inflation would moderate at about 1.7% to 2% during that time span.
The forecast for 2009 was far less rosy. The Fed expects gross domestic product to decline by 0.5% to 1.3% in 2009, and the unemployment rate to rise to 8.5% to 8.8%. GDP fell by 3.8% in the fourth quarter of 2008, and unemployment stands at a 17-year high of 7.6%.
Consumer prices this year are expected to rise just 0.3% to 1%, well below the Fed's perceived target of 1% to 2%, according to the Fed.
Bernanke said that increased clarity about the Federal Open Market Committee's forecasts will ultimately help improve economic conditions.
"This further extension of the quarterly projections should provide the public a clearer picture of FOMC participants' policy strategy," Bernanke said. "Also, increased clarity about the FOMC's views regarding longer-term inflation should help to better stabilize the public's inflation expectations, thus contributing to keeping actual inflation from rising too high or falling too low."
Easier access to Fed lending data
Bernanke said that the central bank will improve disclosure amid heightened public concern about the enormous expansion of its balance sheet.
Accordingly, the Fed will unveil a new Web site in the coming days that will make clearer the public information the Fed already makes available. The Web site will give enhanced explanations of the recent Fed actions to boost lending and will analyze their effect on the financial markets.
In addition, Donald Kohn, vice chairman of the Federal Reserve Board of Governors, will head a committee to review the Fed's disclosure policies related to its lending practices, Bernanke said.
The Fed chief said the moves were made to improve public access to information.
"The presumption ... will be that the public has a right to know, and that the nondisclosure of information must be affirmatively justified by clearly articulated criteria for confidentiality," Bernanke said.
"I firmly believe that central banks should provide as much information as possible, both for reasons of democratic accountability and because many of our policies are likely to be more effective if they are well understood by the markets and the public," he added.
In the meantime, Bernanke sought to assure the public that the credit risk of the Fed's lending is "extremely low," saying that the Fed's assets pay interest, which generates a "significant" source of income for the Treasury. To top of page
First Published: February 18, 2009: 1:25 PM ET
02-18-2009, 05:52 PM
#23
Bernanke and the Fed are clueless. A year ago Ben said that the mortgage downturn was not going to spill into the Economy! All they do is print money and give it to the same people that didnt manage risk properly. All the while responsible people will be paying for other peoples mistakes. A bill was just passed today that would seek to bring mortgage payments down for those in foreclosure. http://www.marketwatch.com/news/stor...st=SecMostRead
This is the wrong mindset to have, selectively rewarding people for failure does not make sense.
/rant
This is the wrong mindset to have, selectively rewarding people for failure does not make sense.
/rant
Last edited by subie OCD; 02-18-2009 at 05:54 PM.
02-18-2009, 05:57 PM
#24
Age 23, job sales manager
I have had the best 3 months I have ever had! After tax I am close to 9k. I want to be smart with my money and put it into a house or something that can make me money in the long run.
For the people without jobs try to keep your heads up!! Things will get better.
I have had the best 3 months I have ever had! After tax I am close to 9k. I want to be smart with my money and put it into a house or something that can make me money in the long run.
For the people without jobs try to keep your heads up!! Things will get better.
02-18-2009, 07:45 PM
#27
VIP Member
iTrader: (22)
Join Date: Jul 2006
Location: Vacaville
Posts: 9,542
Car Info: 2017 CWP WRX & 2007 SWP WRX
Age: 21
Occupation: EMT
Going to School: Paramedic program starting March 2009 and ending Mid 2010.
Not to worried about my field drying up... usually when the economy gets worse, more people get hurt. If anything, the govt may pay less for all the medical and medicare patients which means our company may make less. And since more people are losing their jobs, they are losing their insurances, and then getting on the medicare band wagon... so who knows?
I'm not too worried about the economy. It goes up and down. If it gets to the point where we are waiting for rations in the streets like during the Great Depression, I'm taking the STi up to Washington where my family has 40 acres and living like a cowboy... much better than waiting in line for cheese living like a homeless guy in SF...
I'm just trying to pay my STi off ASAP, double payments as often as possible. Trying to save some money.
Occupation: EMT
Going to School: Paramedic program starting March 2009 and ending Mid 2010.
Not to worried about my field drying up... usually when the economy gets worse, more people get hurt. If anything, the govt may pay less for all the medical and medicare patients which means our company may make less. And since more people are losing their jobs, they are losing their insurances, and then getting on the medicare band wagon... so who knows?
I'm not too worried about the economy. It goes up and down. If it gets to the point where we are waiting for rations in the streets like during the Great Depression, I'm taking the STi up to Washington where my family has 40 acres and living like a cowboy... much better than waiting in line for cheese living like a homeless guy in SF...
I'm just trying to pay my STi off ASAP, double payments as often as possible. Trying to save some money.
Last edited by medicSTi; 02-18-2009 at 07:49 PM.
02-18-2009, 09:18 PM
#28
Registered User
Join Date: May 2006
Location: I was up above it, now I'm down in it
Posts: 5,686
Car Info: New Government Motors SUV!
Age: 28
Occupation: Sales
Prediction on Recovery:
3 family members have been laid off in the last 4 months in all in different industries. I'm writing 2009 off as a loss and looking for the beginning of a slow and painful crawl back up
.... I got a C in macro econ at DeAnza, so I'm the last person to ask.
Occupation: Sales
Prediction on Recovery:
3 family members have been laid off in the last 4 months in all in different industries. I'm writing 2009 off as a loss and looking for the beginning of a slow and painful crawl back up
.... I got a C in macro econ at DeAnza, so I'm the last person to ask.
02-19-2009, 01:36 AM
#29
banned
iTrader: (13)
Join Date: Oct 2007
Location: Walnut Creek Ca..
Posts: 2,746
Car Info: heel'n toe da hoe...
Medicsti. Find the payoff amount. Then put that double payment in a savings account. Then once you save up pay it off. It will be cheaper and save you money. There is no early payoff fines in California. Right now your still paying more with trying to pay down a loan with interest. By saving then paying off you pay on the car only.
02-19-2009, 02:04 AM
#30
20
Copy Jockey @ FedEx Office
As far as my job goes... It isn't the greatest job in the world... But it is really solid working for FedEx. I have zero fear of being laid off, business has been slowing down, but there are still a lot of people getting stuff copied and shipping stuff.
As far as the economy goes and me playing my part as a consumer... I have been cutting back on spending, mainly because I am trying to save up for a new car, but I do have plans to move back in with my parents so that I can live rent free and expedite my saving process.
I kinda think it is pretty nice the way the economy is now, companies are a lot more competitive now with their prices and everything is getting cheaper and cheaper... but of course there is major unemployment and that isn't so nice.
Copy Jockey @ FedEx Office
As far as my job goes... It isn't the greatest job in the world... But it is really solid working for FedEx. I have zero fear of being laid off, business has been slowing down, but there are still a lot of people getting stuff copied and shipping stuff.
As far as the economy goes and me playing my part as a consumer... I have been cutting back on spending, mainly because I am trying to save up for a new car, but I do have plans to move back in with my parents so that I can live rent free and expedite my saving process.
I kinda think it is pretty nice the way the economy is now, companies are a lot more competitive now with their prices and everything is getting cheaper and cheaper... but of course there is major unemployment and that isn't so nice.