[pgray]

I think when you follow this economic crisis very closely and truly make an effort to understand the markets , this can be some interesting stuff.

You can also learn new words and terms.
Here are two of my favorites that you can use in dealing with your own financial crisis -

CREDIT EVENT
" I won't be able to pay you this week as my lack of money has triggered a credit event "

TRANCHE (...let's say you owe $300.00 - )
" I am only able to pay a partial tranche now with additional tranches later "

:O:

Originally Posted by Z-man I am getting the impression that if you live in Kokomo your livelyhood is dependent on what happens with the auto industry, whether you work for them or not.

Very true.

[Jerry Spencer]

Originally Posted by clayton92fan Well guys, I am from Kokomo,I work at Chrysler for the time being and things are tough around here. The prospect of starting a new job/career at 46 in this economy sucks. Unless you are directly tied to the automotive industry, hearing things on the news may sound bad, but when that news directly affects your family i.e. paying bills, college tuition and so on, it hits home just how bad the economy is and will get. My entire household income is tied the the automotive industry as my wife works for General Motors also. I am not ******** or complaining, as we have both been blessed with good paying jobs with great benefits. But with the end in sight for possibly both incomes in our household, it is pretty bleak. We are lucky in the fact that we have lived well within our means, however ALOT of people around have not and I could not imagine the stress that those people are under. Hopefully everyone will make it through this and things will be better. I know that I will be at the races this year just as I have for the last 40, just may have to cut down on the traveling a little. And before someone says "You shouldn't have put all your eggs in one basket" answer this:Would you have turned down a $28 an hour job just to keep from having your income tied to one industry? Again, not complaining one bit about my situation. Just wanted to give my perspective from where I sit. Remember that it is easy to hear on the news that so and so factory closed and x number of people lost their job today and that not really affect you, unless you are one of those people or their families. Hurry up spring.. need to go racing.

Very well said, when I drive past the plants and the parking lot is empty it brings home the reality of just what is going on. Good luck to you and your family as I am sure it will not be long before more locals feel what the auto workers are feeling.
Keep in mind we won a war because we could out manufacture the enemy, how do you think we will do next time? Although they own most of the states already.

I also think it is time for a pay cut and a massive layoff for politicians.

Jerry #66
www.joshspencer.com

[Mud Packer]

Originally Posted by Jerry Spencer Very well said, when I drive past the plants and the parking lot is empty it brings home the reality of just what is going on. Good luck to you and your family as I am sure it will not be long before more locals feel what the auto workers are feeling. Keep in mind we won a war because we could out manufacture the enemy, how do you think we will do next time? Although they own most of the states already. I also think it is time for a pay cut and a massive layoff for politicians. Jerry #66 www.joshspencer.com

Jerry,

It used to be that way here in Anderson. They have now torn down almost all of the old Delco & Guide Lamp factories so we are past that point in time. Even if the economy improves and GM starts building more cars, Anderson won't be in the mix. When I moved to Anderson is 1973, almost 28,000 people worked for General Motors here. As of June of 2008, NONE.

If you spend a lot of time listening to the news media you are in big trouble. They don't just try to report the news, they manufacture it. Another telling sign is that once they have beat a story to death they move beyond it and go to the next bad thing. The news media isn't anyone's friend in my opinion. They are just waiting on the next whipping boy.

Yes the unemployment rate is 8.1 % but according to my limited math skills, doesn't that mean that almost 92 % of America is still working? We have to start thinking positively. If not, they win.:headbang

Originally Posted by Mud Packer Jerry, Yes the unemployment rate is 8.1 % but according to my limited math skills, doesn't that mean that almost 92 % of America is still working? We have to start thinking positively. If not, they win.:headbang

In theory that would be true but that 92% is really those who are physically able to work. If we counted in elderly and those who can not physically work it is something like 14 to 15%. Don't quote me on that number as that is a hypothetical scenario they toss around only when the situations get this bad.

Kokomo's rate for last month was almost 18%

[BrentTFunk]

Good luck clayton92fan. I hope everyone realises this situation did not happen in the past 2 months or the last 8 years. In my opinion it started when we started when we started shipping jobs overseas. My dad always said the working man signed his death sentence when the President fired the air traffic controllers, and the country did nothing. Things will get better, but they will never be the same. I hope I live long enough when greed is once again considered a sin.

[Charles Nungester]

Originally Posted by racinmoma get rid of the illegal mexican and uninployment drops buy half.

Funny thing is, I enquired about our landscapers. The landscaper goes to mexico. Gets them their green card and houses them. Pays them ten bucks a hour and sometimes they work 12-14 hour days 7 days a week.

Not only that, The Govt give them a tax break vs matching a americans income tax.

I bet you can find plenty of Americans to work for 10 a hour when no foods on the table. Kings Island had 10,000 aplications for 2500 jobs thats at 8.00 a hour maximum.


I watch CSPAN and its amazing the idiots that are in there making decisions that are supposed to be for Americans but are more about making us look good to others and pleasing small percentage groups. Make the right call for 300 million, Not 3000 global warming nuts. 5000 pita, 10000 NOW or 40 million Oprah fans.

Chuck

[Onlydirt]

Maybe we will go clear back to the point in time when people treated everyone like they wanted to be treated, and accountability can be talked about again.

[pgray]

Originally Posted by dirtywhiteboy In theory that would be true but that 92% is really those who are physically able to work. If we counted in elderly and those who can not physically work it is something like 14 to 15%. Don't quote me on that number as that is a hypothetical scenario they toss around only when the situations get this bad.

DWB is on the correct course in his statement.

Truth is , the U.S. Government , nor anyone else really knows precisely how many are unemployed. The government reports from a statistical standard know as " U3 " that was created just after the 1980-82 recession , which is generally acknowledged as the worst recession - post WWII - until now.

The current rate of 8.1% with approximately 12.5 million unemployed is the U3.

The " U6 " calculation is the broadest measure including those workers who are marginally attached , former full-time workers now part-time or less , and those that have dropped-out , i.e. no longer actively seeking work. The government will never speak of this U6 statistic for obvious reasons.

The current U6 is thought to be 18.0% representing nearly 23 million people.
This is a number as great as the entire population of the state of Texas !

Anyone who does not recognize the severity of this problem and all others related to this economy need not watch the evening news regardless of your beliefs. There is no denying what is real.

We are all living in a historic time that will be remembered for generations to come.

:eek: