Carrie and Danielle - Latest Comments in How are you feeling about the U.S. economic situation?

Re: How are you feeling about the U.S. economic situation?

chase — Fri, 31 Oct 2008 10:45:24 -0000

i hate the world

Re: How are you feeling about the U.S. economic situation?

rock girl — Wed, 29 Oct 2008 13:27:05 -0000

I'd be lying if I said I didn't feel I touch of "I told you so", as I've worked in the markets for years and I know what a scam they are. I don't own any stocks. I've been saying for a long time that once people pay off their debts - and that INCLUDES mortages - they should invest only in tangibles such as art, jewelry, antique cars - things they can enjoy. Gold coins are "real money" - a protection against the fall of fiat currency. If you must own stocks, they should pay dividends. Bonds and utilities - that's it. Anything else is rank speculation, in my opinion.

I loathe the Federal Reserve. And I detest the evil and incompetent Bush administration more than ever. The "bailout" has a lot of zeros in it - funny how there was never any money for all the health and education programs, and the social security fund was "empty", but Ben Bernanke sprinkled his pixie dust and SHAZAM!!! all this money appeared from nowhere. If I were an American I would feel seriously ripped off. It's also kind of funny how a suspicious side effect of the bailout - which is supposedly for the benefit of the hoi polloi - is that the rich get richer - AGAIN. Personally, I think that the Wall Street criminals should get strung up, rather than walk away with millions in severance packages. Or even go on vacations to fancy resorts.

I guess I feel CYNICAL about the American economic crisis.

Re: How are you feeling about the U.S. economic situation?

Amy Guth — Wed, 29 Oct 2008 09:47:31 -0000

Fearful, yet hopeful that it steers our collective vision away from bigger houses, shoddily constructed and filled with mass-produced junk to simpler and more thoughtful lives filled with quality people, items and experiences.

Re: How are you feeling about the U.S. economic situation?

Danielle — Wed, 29 Oct 2008 01:24:53 -0000

If money is the root of all evil, and money is time then time is the root of all evil - the funniest thing about that is time is just something we (humans) invented, same with money.

Re: How are you feeling about the U.S. economic situation?

Angela — Wed, 29 Oct 2008 01:11:22 -0000

I hope things work out for you.

Re: How are you feeling about the U.S. economic situation?

alligator_kate — Wed, 29 Oct 2008 00:51:12 -0000

Well said. I hope you are right.

Re: How are you feeling about the U.S. economic situation?

Cobby — Tue, 28 Oct 2008 23:56:06 -0000

I feel like the US economic situation is a wake-up call for everyone. My husband and I have been really anxious about the economy for the past few years so we've been taking serious steps to get our economic house as in line as possible (e.g. paid off credit cards, paying down student loans and mortgage early, maxing out tax-free 401(k) contributions and working to put 18 to 24 months worth of household spend into FDIC insured cash/cash equivalents). We still worry a whole lot about the security and stability of our jobs, but the companies we work for seem to be weathering the storm so far. We're just hopeful that we and our companies continue to perform well.

i'm even more worried though about the potentially negative long-term effects of the bailout on the US economy.

Re: How are you feeling about the U.S. economic situation?

DanielleLaPorte — Tue, 28 Oct 2008 20:16:32 -0000

great point about a generational perspective. Pendulums swing....

Re: How are you feeling about the U.S. economic situation?

Elena — Tue, 28 Oct 2008 15:40:35 -0000

I feel like I'm lucky I have almost nothing and thus nothing to lose! Life is simple this way : )

Re: How are you feeling about the U.S. economic situation?

crichard — Tue, 28 Oct 2008 15:08:29 -0000

I agree with you Lindsay. I believe that the perpetuation of fear and anxiety is making all of this worse because we are attracting even more to be scared about.

Re: How are you feeling about the U.S. economic situation?

Rushmi — Tue, 28 Oct 2008 14:41:39 -0000

Daniel, in Toronto and in Mississauga we have lots of stories where food banks are already seeing an increase in number of 'clients'. Many are going in for the first time in their life. All with their heads down, and some even wiping away tears. These people going to the food banks are not new canadians, single parents....these are people working for small businesses finding themselves shortened by the economy. The problem is here. The problem is in India. It's in Spain. It's in Great Britain. The US is not alone....But, as humans we persevere.

Re: How are you feeling about the U.S. economic situation?

laurie_matthews — Tue, 28 Oct 2008 14:29:07 -0000

I was already trying to be more economically prudent so this will just provide more encouragement. However, I was also looking forward to buying a house and feel even more nervous about the housing market and job security. I welcome the move towards balance, both internally and externally.

Re: How are you feeling about the U.S. economic situation?

bluelines — Tue, 28 Oct 2008 14:22:27 -0000

Very good point about the food banks. I heard that Canadian food banks are already feeling the pinch -- people have less to donate, and at the same time demand is increasing.

Re: How are you feeling about the U.S. economic situation?

Ngonzi Truth Crushshon — Tue, 28 Oct 2008 14:14:03 -0000

Happy the worst is hopefully over...people can start borrowing money again....and gas prices are dropping. Hopefully, we can get back job stability, too.

Re: How are you feeling about the U.S. economic situation?

Rushmi — Tue, 28 Oct 2008 13:48:19 -0000

Today I recieved 15 resumes for a homebased customer service rep position - all 15 were applicants from the US (we are based in Toronto)...all 15 are from people in managerial positions....Never before have I recieved so many resumes in one day and all from south of the border. My anxiety is tempered by knowing that this is going to be a long haul before the US and the rest of the world climbs out of economic woe. The sun will shine at the other end...we will be smarter about our money. It's the long haul to the sun that has me anxious. How will everyone make it through to the other side. How many families will need to use shelters, food banks, and rely on the traditional extended family home to get through. Hunker down everyone - Its not just the US that is going through this. The ENTIRE world is feeling the Pinch.

Re: How are you feeling about the U.S. economic situation?

Susie Hutchinson — Tue, 28 Oct 2008 13:34:38 -0000

I think we are in for some serious rethinking of how we all live, produce and abuse resources. Westerners will have to start paying the real cost of goods, slave and child labour to purchase cheap toys and clothes must stop. Thinking about where your food and things come from. Perhaps it is time to actually think about how to create something, rather than borrow to buy things.

Re: How are you feeling about the U.S. economic situation?

Uncle Beefy — Tue, 28 Oct 2008 13:22:23 -0000

I've been a bit of a roller-coaster over the whole thing. One moment I'm okay...the next, fighting the dread. I don't want to buy into all the doom and gloom and realize that in life there are cycles. But, I am seeing the tightening of people's purse strings in the retail sector which then has an effect on my income as hours get cut back and I begin consideration of a second job. That's where it gets a bit harder to disregard and maintain optimism.

Despite those difficulties...I think this may be a very good thing in numerous ways for the future of the country and its culture. I hope so.

Re: How are you feeling about the U.S. economic situation?

Kate — Tue, 28 Oct 2008 13:14:40 -0000

I am with you on the feeling "in limbo". Our plans for the future and moving on up are currently on hold. We are having a hard time selling our gorgeous, well priced 1 bedroom apartment so that we can move up to a townhome, have more space and a larger mortgage, that we CAN afford. It's sort of a tease if you will. My husband and I have worked very hard for the past few years to move up in our companies, get raises and promotions, pay off student debts and save money, and now we can't do anything with it and we're still in the same place we were.

I realize it's a blessing to have more money than you need but to me it's not the money, it's the result of that money and hard work being put on hold.

I agree with many of you that the media creates panic. I believe that's a big part of why consumer confidence is down. The worst thing we can all do is stop spending money because it's all a part of the cycle. We don't spend money, small business can't make a profit, go out of business and employees are laid off, those employees don't have a job and can't pay their mortgage, foreclosure etc etc.

I am really hopeful that the market is just correcting itself and we will all get past this.

Re: How are you feeling about the U.S. economic situation?

bohemian genuine — Tue, 28 Oct 2008 13:12:21 -0000

I'm no economist, but it was my feeling that the way the US economy functions is so ultimately unsustainable that it was bound to happen. You cannot have a supposedly "prosperous" society when the gap between the Have and Have-Nots is so huge, where greedy executives and corrupt politicians make decisions that affect huge amounts of people and where the tax system so clearly favors the rich. If an economy is like an ecosystem of resources, then ours (the US) was completely dysfunctional. Sorry to sound so Bolshie, but hey, I *am* Bohemian!

However, I *am* using the need to economize and save and reduce to really think about what true wealth and prosperity is about on a social level, and of course on an individual level. It means saving up so I can travel instead of eating out for lunch everyday. It means deciding to spend $ on a ballet class rather than buy another workout DVD. It means finally learning how to can food. It means getting my existing clothes tailored rather than buying new ones. It means confronting my existing debts head-on instead of avoiding them. Experiences over material goods; using less to create more. These things sound all shallow and little, but small things do add up.

Re: How are you feeling about the U.S. economic situation?

Lindsay — Tue, 28 Oct 2008 13:07:52 -0000

I believe there is a lot of fear tactics out there...
I'm not buying into the doom and gloom and apocalyptic type thinking... i'm now choosing to walk away from those conversations. I'm choosing for my self, not to keep my head in the clouds necessarily, but to remember to be positive and in the moment. We're going to be fine, this too will pass. Collective positive, loving consciousness would help greatly in these times.... that is my prayer.

Re: How are you feeling about the U.S. economic situation?

alligator_kate — Tue, 28 Oct 2008 12:51:49 -0000

Fear and freedom. Although I try to live in a frugal way, I still find myself wanting 'stuff', especially when I am nervous. This has been called 'retail therapy', which is really a cute name for what should be called an addiction to shopping. Even when I do not actually buy things, I spend time looking at catalogs, greedily contemplating owning this or that. I would like to take the world's mood to change this old behavior pattern in myself forever. As I am fairly young and healthy, I feel that ultimately I'll weather this just fine, so I'm send out love and support to the generation in front of me who are at retirement age. I've been calling my parents almost every day, and sending them as much love as I can, as well as prayers for those who have lost homes. Here in the city, I run a community garden that deals with food justice, fresh veggies for everyone. This winter I'll be grant writing to increase our vegetable garden, so that we will make more of a difference in feeding our neighbors.

Re: How are you feeling about the U.S. economic situation?

missp — Tue, 28 Oct 2008 12:28:50 -0000

Of course i just re read the question!!!! the US situation!!!!.. I didn't see the fine print..OH.. the economic situation!!!! A country that has become based in fear, and has shopped themselves right out of reality and now crashed.. ? how am I supposed to feel?... disappointed, disheartened, that that's how they dealt with the pain of 9/11.. they shopped, they consumed, they overspent to compensate for the hole in their souls... As a nation, to figure out that there is "someone" out there that hates them so much they want to kill them?? Not a very nice thought, no wonder they shopped themselves into bankruptcy...

Re: How are you feeling about the U.S. economic situation?

Me — Tue, 28 Oct 2008 12:27:02 -0000

Very uncertain, but working to not be in a vibration of fear.

Re: How are you feeling about the U.S. economic situation?

missp — Tue, 28 Oct 2008 12:23:11 -0000

Fearful is how I'm feeling.. There is a whole lot of "stupid" out there who are being ruled by fear, religion, racism... I am saddened to think that the world hasn't come this far, that the thought of hiring someone who isn't a rich white old man... is still an issue.. it shows how far the U.S. has come.... NOT VERY.. And then with the Harper REELECTION??? So with trepidation I watch, as the religious right increases their hold, spreading lies and the democrats are holding on literally ..... I have had to stop watching all political debates, the stupidity of Sara Palin is nauseating.. So today, in this moment.. not so optimistic... I don't know whether North America can gets it's own ass out of it's self and look for something different.. I hope and I pray.... and I'm not a praying gal.. per say...

Re: How are you feeling about the U.S. economic situation?

MoJo69 — Tue, 28 Oct 2008 11:45:02 -0000

Thank you, 'Cupcake'. That was beautifully expressed and offered some positive perspective. I agree - as there is always a calm before the storm, so too is there a storm before the calm. Here's hoping this one finds us on a more stable, accountable and loving shore when we come out on the other side.