What concrete signs of economic grief are you seeing?

Well, laid off . Trying like hell for a real job. Not sure at all how I'm subsisting on unemployment compensation. Me and the cat are going to have to start fighting over the food supply Things aren't good here. Glad i can drive to my mom and dad's for some soup and bread as they (retired) are a bit better than me.
This is not good. Sometimes terrifying. Very scary.

poor, new zealand, suburban, hermit here

gas prices are down. (yay!)
mortgage interest rates are down and predicted to go down further. (yay!)
neighbours seem to be livelier than usual. (boo)

i'm not feeling or noticing this recession yet. "yet" being the operative word here. but i'm waiting for it to hit like everyone says it's going to.

I live just outside Austin, TX . I work for a large construction company that has been in business for over 50 years. We typically have about $150 million in revenue per year. Things are starting to not look so good.

We have had small layoffs here and there over the last couple of months. We purchased some new equipment a few months back. My department was supposed to get training with the new software this week. They didn't show up to train us. My boss called them and asked what happened...They said they would not be giving the classes until our company paid the outstanding bill of $20,000...So my boss went up the chain to see what the hell is going on and apparently we have no money to pay our bills! This is because ALL, not some, but ALL of our private jobs are not paying us because they have no cash!

Luckily, if I do get laid off, my Wife and I moved in with her parents last month to save us and them some money. Makes living alot cheaper when you can split the monthly bills between two families...

I am looking at a pay cut of $2.00 an hour or unemployment.
My boyfriend just got laid off from a piston company. I would say, luckily he owns a rental unit, but his renters haven't been paying and the rental assistance isn't coming in.
Can't afford to eat like we used to.
Kids moved back home and are unemployed.
Main street is full of empty buildings as well as the mall.
For sale signs are cropping up on a daily basis.
There are lines at the food pantry and the waiting area at job service/welfare is always full.

Civil/Structural Engineering in the Construction Industry here in UK, having worked on a variety of commercial and residential properties in the private sector, we have noticed a mass of issues following the ''credit crunch''.

For example, redundancies from my former employer (myself included) meant that the company reduced its staffing structure down by 60% and is continuing, as far as I'm aware. Most of the large house builders have scaled down dramatically because lending has been all but capped.

To be honest, the feeling around our area is very negative, almost defeatist in nature because the media, namely the BBC, has played a very cunning role since the ecconomy has been in the recession. It's essentially been 'doom and gloom' Britain for the last few months, and only now are there growing signs, precursors if you will, by few journalists and expert ecconomists saying ''actually, ladies and gentlemen, it's not ALL THAT bad''.

It still isn't convincing public opinion, from what I've gathered thus far, but there are some of us who still remain positive. Specifically, in our industry the key to survival through this period is simple forward thinking and diversifying.

Originally posted by soldiermom
While we've never gone overboard at Christmas for our kids, it's going to be even tighter this year. We always pay cash for Christmas gifts but there's just not enough this year for the regular 3 or 4 (cheap) things that each of our 3 children get every year. A couple of gifts a piece under the tree from Santa and a $50 gift card each from mom and dad will be all we can manage this year.

That's more than our kids will have - as of today I haven't been able to buy them a single present and every day I'm just hoping something will turn up so I can at least get them something/anything. Ironically, we actually have work for the first 6 months of next year but the first payment isn't due until mid February. If the kids were older I'd put it off till then but I don't want to take away the magic of Christmas and Santa from my youngest son.

We've been living in a 2 bedroom apartment for the past year since our roof fell in and the insurance company wouldn't pay up. All year we've struggled to pay mortgage and rent and unfortunately that leaves no money at all for Christmas presents.

As for the total area we live (Malaga area of southern Spain) - One Spanish building contractor has laid of everyone except one of our friends who has worked for the company all his life. The local fruit wholesaler has also laid off everyone except one person. Most of the British expats we know have packed up and left because there's no work in the building trade or tourist industry.

Usually this time of year has golfers and retired people that come here for the winter months, from northern Europe, but the whole place is very quiet. We counted 5 people at the beach last weekend. Most of the cafes and bars were closed - just no point in opening because it costs more to open than they expect to make.

Personally, I just want to be able to get my kids something for Christmas so I don't have to feel like the worse mum in the world. They've put up with not living in their home, without complaining, even though they miss their friends. They've gone without a lot, this year, because we've struggled to pay a mortgage and rent so how do you explain that although they've been very good and patient all year, Santa hasn't got a present for them? Life is pretty grim right now but I'm hanging on to the future because I know we have work for next year and that puts us in a better position than most.

sixteen companies in the area have laid off 916 people since october in my area, or at least that's what the paper has in it today.
my company hasn't laid off, but we'll be working a few hours, till noon if we are lucky today and have tomorrow off. then well, see what next week brings? then we are all looking forward to our annual two week plant shutdown.
maybe by the time we get back from that there will be some work in the place.
otherwise, well, I don't know what the boss will do, he doesn't, at least never has laid off any of his people.
the thing is though, this is usually the busiest time of the year, we were cranking out the orders for months on end before this, but in the last few weeks, well, it's pretty much dried up. we are working on march orders now.

you guys in college....
buy a pennant, save a job???



[edit on 11-12-2008 by dawnstar]

reply to post by BAZ752


That's why I went Civil/Transportation in my career. Some family & friends thought I was taking a less prosperous career path because in 2001 building design was the big money CE field. I simply didn't believe it was sustainable, whereas the nation's highway system is perpetually in need of expansion, repair, and replacement. I look at the earnings reports for structural design professionals outside the scope of bridge design and see that the building design sector has virtually collapsed as has the private development sector, and here I sit having just had my best earnings year ever, having gotten a great Christmas bonus, and having recieved word of a very nice raise along with my annual cost of living salary adjustment... all because I fit a square peg into a round hole and design an efficient highway in an area with limited available space and a limited funding budget.

Off topic, but one reassuring thing I have noticed both on this thread and on other forums is the value of close family unity when there is a crisis, with regards to money help, living accommodation etc. As Al Pacino said in the Godfather, family is the only thing that really matters.

My grandma passed away about a month ago and in the week I went home to Michigan for the funeral, two of my uncles lost their jobs. In my company, we have seen a 20% reduction in head count with another 10% due in January. But honestly, the perception I get from most is blindness. The people I encounter on a daily basis are oblivious to what is happening which makes it a hell of a lot easier for the PTB's to engineer it all.

I just found out that in a relatives part of town one of the busiest public swimming pools, built in the 1970's I believe, that caters to all age groups from a good 7 mile area is being closed due to lack of county funds.

many people in the area are writing the coucil and reps. begging them to appropriate some kind of package to keep it open, including almost 100% willingness to pay higher use fees and some donations should a fund be established.
This is very sad when local resources are closing and 8+ trillion is pilphered by the elitists and their goverment insiders, and 14+ trillion is hidden in offshore stash accounts by many of the same mega-wealth have mores.

The other item that comes to mind, once again a sign of economic grief is this video

Concrete signs? Just 2 days list at Layoff Daily is enough to make me stock up on rice and beans

Well, I'm retired, as many of you know, and our 403B plan (the educational equivalent of the 401K plan) is down almost 50% on the equity side. Fortunately, about 60% of my retirement is in fixed funds, but even so, the equity loss makes things very tight for two people. Most of our income is going out to medical insurance for the two of us, which is about $1200 per month, as neither of us is yet eligible for Medicare.

reply to post by silent thunder


To the snotty nose kid that sees no change because they believe they are in a higher social class kiss my a##. Donald Trump was on the news recently and stated that he could not get a loan at this time . My husband and I make above average incomes and he was laid off as of today due to his company downsizing because of the economy. You must be to green and still live under mommas tail to not see what is going on. Do you live under a freakin rock? Give me a break.... My in-laws are now without medical insurance and so is my father. Because of their age even with hefty assests who can afford the premiums, and for how long? Plus we have all lost so much money in the stock market lately it is just gross. Also there is a freeze on state and federal jobs. Oh but everything is just hunky fu##ing dory. I am highly skilled in my profession but because of state budget cuts I lost my job and guess what? I cannot find another one. Even Wal-mart and Mcdonalds aren't hiring, but if they were I doubt a part time $6.55 job would pay our mortgage which happens to be $2300. 00 a month. Thank God everything else we have is in the clear! I am not trying to be mean but Good Lord it is everywhere. And not just where I am from it is all over the US and the World. Do you watch the news?

I have a friend who used to work for Goldman Sachs. He advised me over a year ago to not get into the stock market and to remain liquid (mentioned something about derivatives), keeping all my money in cash this year and to get debt-free. I am glad I followed his advice.

I can cover my bills until May, possibly longer. If things continue to worsen, I won't be able to do anything after next summer. I'm scared. At least my car is paid for and I have food for a year.

I may still lose my home, but it would probably be a year from now if it did happen. Right now, I owe more than it's worth. Did I mention I'm getting scared? I'm really hoping by that time, either things come around or the collapse is so great, evictions don't happen from foreclosures.

The one odd thing I have noticed are my friends who work in money management seem to be in a complete state of denial. One person I know makes less money than I do and struggles to pay her bills in the good times. She says things like "it's the natural cycle of the market" and "things are just correcting" when I ask her about it. Another very astute business owner told me they fully expect real estate to bounce back by the end of 2009. Someone else told me, "It can only get better."

WTF??

Either they have their heads in the sand, or I'm losing it. My vision for the future is something just shy of complete and total anarchy, unraveling of much of society's fabric and a return to life similar to pre-WWII.


[edit on 12-12-2008 by VelmaLu]

I live in B.C. Canada and here are the good and bad I have seen with the economic situation.

(Good)
-Gas really cheap
-Cars cheap
-Intrest is low
-Local small and meduim businesses are doing well

(Bad)
-A local mill owned by an american company shut down, 300 locals(including my neigbours) lost their jobs.
-Other American owned companies not doing so well
-Local investers have lost millions
-Canadian oil projects in the north are all stoping/freezing.

My conclusion, anything americanized is getting the bad end of the stick, I called it when Harper starting pushing more involvment with the U.S. we should have pushed more on stand alone industries and we would not be feeling anything now...