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I need your feedback - please comment on this post
Go ahead and call me a skeptical conspiracy theorist but I have the feeling we’re not getting the whole picture (or truth) on the country’s current economic situation. I am curious to learn the following from my readers:
- Do you feel like you’re getting ahead or falling behind?
- Do you have enough left over at the end of the month to put something away in savings?
- Have you been affected by the housing crisis in any way?
- In general, how is business for you?
- Is your company (or spouses) hiring or laying off or just staying steady?
- Is your company experiencing growth or declining revenue?
- Do your sales guys say that prospects are “tightening up budgets”?
- Do you think you’ll be in your current job a year from now?
- How is your extended family doing in the current downturn?
- How hard are gas prices and food inflation hitting your pocketbook?
- In general, how do you feel about the future? Will things turn around or get worse?
Please don’t feel like you need to answer all these questions. In general, how is it going for you and what’s your outlook on the future? Please note where you’re from in addition to your comment. Its OK to post a comment anonymously.
Thanks for helping my curious mind…
Answers in order:
Left by anon on 08/06/2008- Getting ahead
- plenty left over for savings
- Yes - buying a new house is a bit tense (because I’m afraid the buyer of my old house might not have his loan fund on time)
- N/A
- current company staying steady, previous company laid off 2/3 of workforce (including me which caused me to take a huge pay raise by moving to my current company)
- don’t know
- don’t know
- yes
- great
- gas prices are being felt, but food inflation has gone unnoticed at our house
- thing will turn around, it’s just a matter of time and people not getting too worked up about the media hype over all out economic minutia.
I’m feeling it on the housing front. I wish the Fed would have just let prices stabilize.
I’m worried in general about our national debt, taxation, and the value of the dollar.
-J
Left by Chris Knudsen on 08/06/2008- Do you feel like you’re getting ahead or falling behind?
Getting ahead
- Do you have enough left over at the end of the month to put something away in savings?
Yes
- Have you been effected by the housing crisis in any way?
Been looking to purchase some property while it’s down. My house is paid off so I’ve lost money in theory.
- In general, how is business for you?
Great
- Is your company (or spouses) hiring or laying off or just staying steady?
Steady, might be hiring soon.
- Is your company experiencing growth or declining revenue?
Flat revenue for the past 2 years. 99% of it is internet ads.
- Do your sales guys say that prospects are “tightening up budgets”?
Dunno
- Do you think you’ll be in your current job a year from now?
Yes
- How is your extended family doing in the current downturn?
Not so well.
- How hard are gas prices and food inflation hitting your pocketbook?
Not
- In general, how do you feel about the future? Will things turn around or get worse?
Dunno
Left by Bryan on 08/06/2008- Do you feel like you’re getting ahead or falling behind?
Depends on the month.
- Do you have enough left over at the end of the month to put something away in savings?
Yes.
- Have you been affected by the housing crisis in any way?
Yes.
- In general, how is business for you?
Very busy. First year though.
- Is your company (or spouses) hiring or laying off or just staying steady?
We use freelancers when we need to hire.
- Is your company experiencing growth or declining revenue?
Growth.
- Do your sales guys say that prospects are “tightening up budgets”?
Nope.
- Do you think you’ll be in your current job a year from now?
Yep.
- How is your extended family doing in the current downturn?
Fine.
- How hard are gas prices and food inflation hitting your pocketbook?
Gas prices… (relatives live a 60 mile roundtrip away, and it happens 3 times a week at least).
- In general, how do you feel about the future?
Fine. (mostly fine. It’ll be fine, fine when the water, food supply + shotgun package is completed).
Will things turn around or get worse?
Left by Russ on 08/06/2008Worse. I think real estate is going to get worse. Sub prime is just the tip of the iceberg. Our country consumes far more than it produces.
Regarding your initial statement, I think “truth” is in the mind of the observer. Whenever the media begins talking about recession, it usually isn’t long before one starts to take shape. We are generally “followers” of whatever is being planted in our imaginations. In my business, we strive to help people to overcome that mentality by focusing on what is real as opposed to what is perceived - generally with astounding results… you could ask my clients.
So for some answers to your questions:
Ahead
Left by Frank on 08/06/2008Not as much as I’d like, but yes
I’d like to sell, but must wait
My Business has never been better
We will be hiring before years end
Good Growth
No
Yes - I’m the Owner
Good
It’s annoying, but not a stresser
I can see marked improvement in my geographical area, and am pumped about the future!
- Falling behind
Left by TK on 08/06/2008- Nothing left over for savings
- Sold home when housing crisis started, got lucky we sold it, but sold it for alot less than we needed to, so didn’t get to pay off as much as we were hoping.
- Company is steady, but budgets are tight
- Gas Prices and grocery prices are taking a huge toll, nothing extra for any recreation or lesiure or travel, back to school is VERY hard to cover, some bills have to be late.
- I think things will continue to get worse. Headed for something big I think.
In order:
Left by Lucky7 on 08/06/2008- Do you feel like you’re getting ahead or falling behind?
Falling Behind
- Do you have enough left over at the end of the month to put something away in savings?
Yes, but not much
- Have you been affected by the housing crisis in any way?
YES
- In general, how is business for you?
Not too good
- Is your company (or spouses) hiring or laying off or just staying steady?
Steady
- Is your company experiencing growth or declining revenue?
Declining
- Do your sales guys say that prospects are “tightening up budgets”?
Yes
- Do you think you’ll be in your current job a year from now?
Yes
- How is your extended family doing in the current downturn?
Ok
- How hard are gas prices and food inflation hitting your pocketbook?
Feel the gas prices, food is negligible.
- In general, how do you feel about the future? Will things turn around or get worse?
Worse, as in the “Mother of All Recessions” worse!
Have a great Day!
- Do you feel like you’re getting ahead or falling behind?
Ahead, thanks to reduced spending.
- Do you have enough left over at the end of the month to put something away in savings?
Yes.
- Have you been affected by the housing crisis in any way?
No, I rent.
- In general, how is business for you?
Same.
- Is your company (or spouses) hiring or laying off or just staying steady?
N/A
- Is your company experiencing growth or declining revenue?
Steady.
- Do your sales guys say that prospects are “tightening up budgets”?
No.
- Do you think you’ll be in your current job a year from now?
Yes.
- How is your extended family doing in the current downturn?
Fine, they just miss the once inflated value of their homes.
- How hard are gas prices and food inflation hitting your pocketbook?
Food a little, but it’s already started to go down.
- In general, how do you feel about the future? Will things turn around or get worse?
Left by Blake Snow on 08/07/2008I feel good about the future, there just needs to be some natural market cleansing. The current downturn (and it will get worse) is the price we pay for borrowing more than we make as a country and as individuals.
Actually, we are doing better that ever, financially. Most of our children are, also. Counting children-in-law, five work for our state government or in schools, two are self-employed, one is in the military, on works in the dairy industry.
Left by Annej on 08/07/2008The housing problems haven’t affected any of us.
We are able to save money every month. Gas and food prices have made us more careful, but we havent felt deprived at all, nor chaged any plans because of them.
My husband’s company is doing about the same, is planning to hire at least one more person.
We, and the children we have discussed this with, feel like battening down the hatches! Mainly because of the economic woes of the country.
Thanks for the comments everyone!
I often wonder if those who are really struggling really want to talk about those struggles. I don’t think I would. Its good to here that people are doing well!
Left by Chris Knudsen on 08/08/2008- Do you feel like you’re getting ahead or falling behind?
Steady as she goes.
- Do you have enough left over at the end of the month to put something away in savings?
Yes.
- Have you been affected by the housing crisis in any way?
No.
- In general, how is business for you?
Hard. Really hard.
- Is your company (or spouses) hiring or laying off or just staying steady?
Mine: Steady, Hers: Hiring
- Is your company experiencing growth or declining revenue?
Declining.
- Do your sales guys say that prospects are “tightening up budgets”?
Yes.
- Do you think you’ll be in your current job a year from now?
No. VERY tired of making money for people who don’t have good business sense at all.
- How is your extended family doing in the current downturn?
Fine.
- How hard are gas prices and food inflation hitting your pocketbook?
Forcing needed changes. Frankly I wish gas prices were $8.00 per gallon.
- In general, how do you feel about the future? Will things turn around or get worse?
Left by ThatOneGuy on 08/08/2008Worse. Way worse.
Perhaps your readers are in different sectors. This is an interesting post from the DesNews.com today.
OUTLOOK OF UTAH EXECUTIVES IS THE GLOOMIEST IN 2 YEARS
Left by Brad Baldwin on 08/12/2008Rising gasoline prices have sent Utah business executives’ optimism about the economy plummeting.
FULL STORY: http://deseretnews.com/article/1%2C5143%2C700250122%2C00.html
Excellent questions Chris. I live in Utah and I’m still in college. Some of my answers are very sensitive to the college part.
- Do you feel like you’re getting ahead or falling behind?
I feel like I’m falling behind. To be expected in college probably, but I feel like it’s getting harder and harder to pay tuition each year (I pay my own way with no scholarships). I took out a student loan for the first time last year (been in college since 2003).
- Do you have enough left over at the end of the month to put something away in savings?
Haha, yes, in the summer, then it all goes away with tuition.
- Have you been affected by the housing crisis in any way?
No, although I wish I was ready to buy right now!
- In general, how is business for you?
I have two steady part time jobs.
- Is your company (or spouses) hiring or laying off or just staying steady?
My company (owned by my aunt and uncle) _wants_ to hire, needs to hire, but they feel like they can’t afford another employee. My wife’s employer (Pizza Factory in Provo) is going down the tubes fast, but that’s mainly due to piss poor management.
- Is your company experiencing growth or declining revenue?
Still growing, but the rate of growth is decreasing radically.
- Do your sales guys say that prospects are “tightening up budgets”?
I’m a sales guy, and yes, more and more people are asking for discounts these days.
- Do you think you’ll be in your current job a year from now?
Yep
- How is your extended family doing in the current downturn?
Haven’t heard much in the way of woes. Some complaining though.
- How hard are gas prices and food inflation hitting your pocketbook?
Not really hitting the pocketbook, but there’s is definitely a huge effect. Perhaps the question should be “how hard are gas prices hitting your driving habits” on the gas side, and your “eating out habits” on the food side. I used to drive from Provo to Vernal about every other month (about 400 miles) to visit my family. Now they live in Saratoga Springs, a mere 24 miles away, and it’s hard to get out there once a month… Haven’t felt too much on the food front.
- In general, how do you feel about the future? Will things turn around or get worse?
Left by vontrapp on 08/14/2008The future looks grim. I’m trying to buy silver as a cushion, but thanks to the Patriot Act it’s crazy hard to get an account set up with the bank I want to buy silver with. If I had even two years left in school I would doubt my ability to finish. I have only one year left, and I feel it’s going to be tight. I worry about my younger siblings chances at going to college.
Oh, and the people who are struggling probably don’t have time to read blogs and comment.
Left by vontrapp on 08/14/2008- Do you feel like you’re getting ahead or falling behind?
Definitely getting behind..
- Do you have enough left over at the end of the month to put something away in savings?
No..
- Have you been affected by the housing crisis in any way?
Yes. Have a house in Fla that was a rental and breaking even. Is now vacant with no possibility of selling and poor rental prospects.
- In general, how is business for you?
Am unemployed with NO job openings local in my field in the past 12 years. Luckily my spouse has a good job (today) I have found temp work at $8 to $12 per hour (vs a full time job at $35/hour)
- Is your company (or spouses) hiring or laying off or just staying steady?
My spouse is expecting to be let go within the next year. The city he works for will need to cut expenses by more than 40% to break even. They already cut 20% last year.
- Is your company experiencing growth or declining revenue?
My spouses’ company (the city) experienced a declining revenue of as much as 90% in some areas, with an average decline of ~50%.
- Do your sales guys say that prospects are “tightening up budgets”?
Yes
- Do you think you’ll be in your current job a year from now?
I hope not.. it would be nice to have a job in a year from now.
- How is your extended family doing in the current downturn?
Losing money, but making it. One brother (a retired doctor) now works parttime in a store, one brother watched his net worth decrease from over $1 M to $500K, and one brother retired has lost $$ in his stock portfolio, but does OK with annuity payments and Zero debt.
- How hard are gas prices and food inflation hitting your pocketbook?
Somewhat, but we don’t drive much and grow our own vegies.
- In general, how do you feel about the future? Will things turn around or get worse?
Left by Sue on 08/20/2008Things are going to get MUCH, MUCH worse.