Comments on: The Sky Is Falling … No It’s Not!

By: Stacy

Stacy — Tue, 13 Jan 2009 17:05:58 +0000

My husband and I have been in our house since the summer of ‘01, and we bought it on the assumption that at some point one of us would get laid off (Dallas, tech & telecom, early ’00s, downturn). Neither one of us did fortunately, and the fear did pass. When it did though, we didn’t change how we lived. We didn’t “forget” what made the last go-around particularly scary as newlyweds, and we’ve lived well below our means during the last few glory years.

Now here we are, and we’re fine. I’d like to see a bit more attention given to the people who aren’t suffering, because maybe that would inspire people to change their ways long-term and not just as a knee-jerk reaction to the hysteria of the “economic downturn”. I’d hate to see all these people who are now saving and trying to pay down debt just go back to what they were doing once the market turns from bear back to bull…once the tough times “have passed”.

On a local note, the Dallas Independent School District laid off 300 teachers a few months back, and all sorts of excrement hit the fan. Now, they’re hiring 200 back. That too, I guess, passed!

By: Charlotte Weeks

Charlotte Weeks — Sat, 10 Jan 2009 02:40:13 +0000

Jason, this is a great reminder, that “this too, shall pass.” The important thing is that we all remember the lessons learned in down times, even when the economy is good again. Reinkefj has great practical ideas!

By: reinkefj

reinkefj — Wed, 07 Jan 2009 01:56:33 +0000

From a “jobs” perspective, we are clearly are going into, in, or coming out of “low tide”. There will be discontinuities as the marketplace seeks the “correct” level. (Unlike you, I think that the new administration will make things worse. Every administration, when they try to “help”, hurts. I’d prefer they all just debate endless and leave us well enough alone. Printing money is going to hurt the poor and those on fixed income.) The trick is not to get to high during the “high tide” or too low during the “low tide”. “Low tide” is a good time, (usually, like history, we only learn the lessons when we are flat on our back), to get back to core principles. At the risk of beating the proverbial dead horse:

Success now is:
(1) ruthless financial discipline — no bad debt;
(2) a life long interest in learning — education — a degree — they can’t take it away from you;
(3) a white collar job in order to save big bux;
(4) a blue collar skill for hard times — never saw a poor plumber;
(5) one or more internet based businesses — your store is always open;
(6) a free time hobby that generates income; and
(7) a large will-maintained network of people who can “help” you.

Seems so simple. Back to basics.

By: Marc Wolfsfeld

Marc Wolfsfeld — Wed, 07 Jan 2009 00:17:41 +0000

With bureaucracy also comes jobs.

I too shoveled snow today – twice. And I enjoyed every minute of it because I am a skier and snow in the valley means snow in the mountain.

As I looked at the air conditioning unit on the side of my house, I though of the 4 days in July when it didn’t work and the $500 it cost to fix and how that really really sucked. It was over 90 degrees in the house for 4 straight days and nights – no sleep possible.

That passed and so will the recession – many of us have been through it before. You are too young to remember the inflation of the late 70’s and early 80’s. Interest rates for homes was 14% and cars etc. over 20%.

Unemployement was high and the stock market was low…. and gas was about where it is now….

How many people sold their gas guzzlers a few months back? And now they are thinking of buying them back.

Here’s hoping is snows til thursday – then I’m going skiing.

Marc