... Me, Or Your Lyin' Eyes?

[filkertom]

Chimpy says we're not headed for a recession.

Gee, damn near everybody else seems to think we're in one.

How's your financial situation looking? Mine could be better (and I'm hoping to do something about that by Saturday, watch this space). You don't need to provide details, unless you're in truly dire straits and need help now right this minute or somethin'.

Comments

[fmh.livejournal.com]

Check to check. And that's only with a mighty running leap from one to the next like Indiana Jones off a collapsing bridge.

[angelari.livejournal.com]

Us too. We were doing better until the roommate went off the deep end and moved out without warning, and I got laid off. Fortunately, I was able to find a new job very quickly. While the new job is better, allows me to enjoy going to work, and gives me domestic partner benefits so that my girl actually has insurance, because of those premiums and the switch to getting paid every two weeks instead of twice a month, I'm actually making LESS money. It's tight now, but the girl has judged that my improved mental health is much more important than having extra cash.

[kobold.livejournal.com]

I hate that man so much.

Oh, I meant to call you this past weekend. I'll have to bug you today.

[crwilley.livejournal.com]

Of course Chimpy says we're not in a recession. He (and the Repugs) are desperate to not make the official pronouncement until after November, so the Democrats can be plausibly blamed for it.

...and personally, I feel guilty that my financial situation is actually looking up. (I do. I feel guilty about the strangest things sometimes...) Hubby has successfully transitioned from "college student" to "gainfully employed"...but it's not so good that we're not screwed if my car dies, too.

[jss]

Unemployed; Unemployment runs out at the end of March. A few nibbles, some first round interviews, only two second-round interviews, no offers. Thanks to paying for an interview trip out-of-pocket and the car insurance deductible, I'm in the red for the year thus far (otherwise I'd be at something like $32 in the black through February); cash hemmhoraging begins in early April (especially with owing money to both the feds and the state at tax-time).

Luckily, I'm a cheap bastard I've got enough in savings/CDs to last me a while, but that's the down-payment on whatever house/condo I eventually buy so I really don't want to drain that unless I have to.

[holmes365.livejournal.com]

Working two jobs. Going to school when illness doesnt interfere. No savings. About to take over my mothers finances(she is 80). She has been supporting my siblings. Manageable, but only if there are no problems.

[janetmiles.livejournal.com]

I almost feel guilty about this, but Dale and I are in good shape: we're both employed at steady jobs that pay well and have excellent benefits. We're 13 years into a 30-year fixed-rate mortgage, and we have a nice chunk of money in the bank that I inherited from my dad.

We do help out our friends when they ask and when we can (that is, when throwing money at a problem is a reasonable solution).

[selenesue.livejournal.com]

Holding up okay. Nepotism is good and I am grateful for this particular "industry standard". [snort] I know damn well I'm the exception and not the rule though, and am quietly helping out others as I can.

Today's L.A. Daily News headline was about the "bad" news that the median house price in our area was down from $655,000 to 500,000. Um, that's kind of good for me actually, I'm house hunting. If I brush up my fixit skills, I can probably do very well indeed.

[zellion.livejournal.com]

Same here. With any luck we'll be in the market for our first house within the next year

[awfulhorrid.livejournal.com]

Actually much better than I was last year at this time, but that's largely because the last several years have been spectacularly bad. I still have a lot of debts to pay off and for what I'm currently getting paid for consulting, I should have a lot more disposable income than I do.

However unlike conservative asshats, I'm very much aware of the fact that just because I personally am doing fairly well, that doesn't mean it's the same story for everyone else. I'm also aware that as a consultant, I'm very much dependant on the people for which I'm working doing well. (See that part up there where I mention having several spectacularly bad years?)

[the_rck]

As long as I lose neither my LTD or my social security money, we're okay. I think, though, that it's kind of a good thing that I can't drive. I hate the inconvenience of not being able to take Delia places, but we're saved a *lot* of expense by having just one car.

Of course, 'okay' is a relative term. I'd like to be saving for Delia's education, and we're not. I'd like to be saving for retirement (my LTD money automatically goes away when I hit retirement age), and we're not doing very much.

[hughcasey.livejournal.com]

Technically, he COULD be correct. *Puts on Financial Specialist Hat*

You can't know that you're in a recession until you've been in it for at least six months. The definition of RECESSION (via Wikipedia) is:

"...a decline in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year."

In other words, you have to be AT LEAST SIX MONTHS INTO IT before you can call it a recession.

Now, the current GDP decline began in January. That means we won't know until July, when the 2nd quarter GDP numbers come out, if we're in a recession. We have another four months to go, and in the first decade of the 21st century, the US and Global economies can, and do, turn on a dime.

So, when he says it's too early to tell, he's actually right. It is.

Also, when he says that a second economic stimulus package won't help, he's also right, in my not-so-humble opinion. However, I also don't think that the FIRST stimulus package will help, either. (This will not, however, stop me from claiming and spending my tax rebate.)

My educated opinion? The ability of the government... ANY government... to control the economy is a complete myth. The economy is too large and complex a system for any one entity to control. It can be nudged, certainly, by controlling various factors like interest rates and monetary supply. But the relationship that the government has with the economy is the same as the one that a rodeo rider has with a bucking brahma bull... hold on for dear life, and don't fall off.

That being said, I WILL blame the current administration (and the previous one as well... the subprime crisis wasn't an overnight phenomenon. It's been building for almost 15 years, now) for creating the regulatory enviroment that lead to the current economic situation. There's more than enough blame to go around for everybody.

[angelari.livejournal.com]

But he didn't just say that we weren't IN a recession (which is true), he said that we're not HEADED for one. Which is just insanity.

[jcw-da-dmg.livejournal.com]

Mine sucks. I didn't have work for most of this winter, and thus my rent is way behind. If the owner of the building (I don't actually know who it is; I deal with a management company) doesn't sympathise, I'm O-U-T, in spite of the fact that I am working now and can have it all paid up by the end of March.

[ericcoleman]

Mine is very good, but I have my Mom to thank for that. She was always very careful with her money. Now I just have to follow her example (finally)

[mouser.livejournal.com]

Okay, except that I've *GOT* to leave this job (high blood pressure and getting higher because of it) and find another with health benefits.


There is no safety net.


I do notice that gas prices (which effects EVERYTHING) have gone up again.

[per_solo]

Living off of student loans, while in my high school home. :-)

In theory, once I exit school, hopefully this recession will have passed, and I'll be in the line to make some decent money. I hope!

Have you received an e-mail yet, btw? Or do I need to go shake a tree? :-)

[filkertom.livejournal.com]

I have got a couple of e-mails, yes. Things are still up in the air.

[sydb42.livejournal.com]

Well, we just got hit with a major repair to our one working vehicle, which meant we had to rent a car while it was in the shop, which was much longer than originally thought because the shop was backed up AND there was bad weather during the week that basically stopped their shipment of parts.

But, we managed to cover all that and still pay the all the bills that were due on time, so I consider that a success. Granted, if we hadn't just gotten our tax refund (and thankfully not spent it all yet), we would have been royally screwed, so that was good timing more than good budgeting.

Barring another emergency cropping up, we're doing ok, though it'd be nice if there was a little more wiggle room (who doesn't feel that way?). Here's to hoping we've had our fair share for a while and if there are more emergencies on the way, they hold off at least until we get that rebate check that's supposed to make everyone feel better about their financial situation. :P

[emiofbrie.livejournal.com]

I have to count on selling enough albums at MarsCon to pay the month's bills....

Though, if I sell as many this year as I did last year, it shouldn't be a problem.

Otherwise, I'm just *barely* getting by on approx. $700/month

[hanabishirecca.livejournal.com]

Despite the recession, my economic status is better, but, this is due to my own work, not the work of anyone else.

I make the same wage I did two years ago. My living expenses have increased due to change in rent and my health requiring a low-cholesterol diet. However, I've been doing heavy budgetting and managed to pay off two car loans, a credit card, a personal loan, and hopefully in March another credit card.

[ashkitty.livejournal.com]

Good for you! Budgeting is hard when you're not used to it, but the results can be awesome.

Financial state

[markiv1111.livejournal.com]

Mixed results. I am working a new job that has no union benefits, and the insurance is marginal at best; there are things Louie and I need to pay for that would have been covered if they had happened a year ago. Also, there is a thing that I approve of, on the whole (Minnesota, my home state, no longer allows smoking in bars) that in the short run has put some bars out of business and forced others to cancel live entertainment. I still hope to find another weekend band to play with, but until I do so, my finances are (here is that word again!) marginal. At least we have another paying tenant on the other side of this duplex, so the house payments in and of themselves may be a tad better, for now.

Nate

[rabidfangurl.livejournal.com]

Let's see: fired after only six weeks on the job, health insurance runs out tomorrow, living at home, meager savings all earmarked for gas and student loans.

Isn't being fresh out of college great?

[unclelumpy.livejournal.com]

Not too bad. Haven't filed my taxes yet because that damned agency I played Santa Claus for can't bother to send me my W2 forms.

Hopefully I'll be able to find a job in LA when I take my week-long vacation/job-search there next month.

[ashkitty.livejournal.com]

Well, lessee. I made a pitiful amount of money last year, which meant that I had to defer admission to grad school because of inability to pay for it--but not so little, apparently, that I don't owe taxes. :p Now I'm working my ass off at a job I hate, trying to save up slightly more than my yearly income for next year's tuition because I don't think they'll let me defer again, while the dollar gets weaker and weaker and the amount I need to save (am going to the UK) gets bigger and bigger WITHOUT MY DOING ANYTHING. I've applied for every scholarship possible for grad students going abroad and I'm saving every dollar over what I actually need to live on (minus the odd random expense to make my life easier like the $15 Swiffer Wet Jet I bought last month) and even typing this I can feel my blood pressure going up, so....yeah. And I'll be moving before the election, so there's pretty much no way things will be in better shape by then and I don't know what to DO. *sobs*

...right, sorry. Yeah.

[admnaismith.livejournal.com]

Spending more than our income each month, just to pay the bills. Fortunately, this means spending retirement savings from the Clinton years. Other people in my shoes may be racking up credit card debts.

It's mostly health insurance and expenses the insurer won't pay for, even after the brobdignag premiums are paid. If I was fiscally responsible and dropped health care coverage, letting my thyroid-afflicted spouse, dementia-afflicted mother and special needs toddler go without any kind of treatment, we'd be doing OK in the bottom line. But instead I'm a stupid, irresponsible liberal who should no doubt be punished for my extravagant bad choices. No wonder Republicans hate me.

[liddle-oldman.livejournal.com]

http://www.gocomics.com/tomtoles/2008/02/11/

[jonnorthwood.livejournal.com]

Financially? I'm ... what's the word I'm looking for ... oh yes, screwed. I've been job hunting since August, and had to liquidate my IRA just to make it this far. Another six weeks, and that's it: no more money, period.

[unclekage.livejournal.com]

It would seem that the inability to recognize an economic recession is hereditary.

[filkertom.livejournal.com]

The irony is, the only job I can think of for which the boy might actually be qualified... is running a grocery scanner.