The worst thing about right now...

[CoffeeCat]

The uncertainty.

No one knows, going into 2009, what is going to happen to our economy.

Will unemployment continue to rise? What will be the fallout when the second housing bubble
bursts in 2009, as many predict? When will consumers start spending again? What will happen
to the stock market? Will my husband lose his job? What effect will Obama's policies have on
the economy?

Many highly intelligent experts on finance and the economy--disagree on how to answer those questions.

I don't like the uncertainty. It's really hard to plan for anything--but disaster. Our family
could splurge and take the kids to Disneyland this summer or buy a car--because things might
be ok. But what if they're not?

So, we find ourselves doing nothing. Preparing for the worst and saving every nickle we find.

In my opinion, right now is the most difficult part. I can handle tough times. At least
when your circumstances are defined, you can cope, problem solve and deal with what is at
hand.

For now...we just sit and wait. I don't like it.

[Lint Head]

1. One thing that will happen is that a criminal will get away with murder and

theft and live high on the hog in Texas.
:dem:

[CoffeeCat]

2. So we got that going for us...

...which is nice.

:sarcasm:

[Skittles]

3. damn straight

they won't do a damn thing to bush/cheney

[Citizen Number 9]

4. Who are you talking about?

Literally or figuratively?

[Mnemosyne]

5. It's like a culmination of the stress of the last 8 long years.

I don't like it one bit either,TS.

[European Socialist]

6. Part of the problem is a financial collapse is new to people less than 90 yrs old

[Jack Sprat]

7. We have each other

for what it's worth. nyuk, nyuk, nyuk. :fistbump:

[BeatleBoot]

8. On a Personal Basis, One thing is For Certain

I will still be standing.

Even if this shit-storm takes everything I own away from me, I will not give up.

It will suck, but I refuse to give up.

Not trying to be poignant or anything, I am just stating facts.

Nothing - and I mean this from the bottom of my heart - none of this will take me or my family down.

And I really think that there are others out there in this country who refuse to quit.

It's one thing to lose something. It's an entirely different thing to quit something.

[CoffeeCat]

10. Wow, that's one of the most...

...profound, astute and important things I've ever heard anyone say.

"It's one thing to lose something. It's an entirely different thing to quit something."

I think you may have just changed my life.

[BeatleBoot]

13. Bwwaaahaaaaa!

Nothing profound or astute about me, pal.

I just live in Detroit.

[CoffeeCat]

14. Awww....

...and you're humble too.

Seriously...that was one incredible quote.

Do I have your permission to use it in my sig file?

I may just have to cross stitch it on a pillow...I assume you won't charge
me copyright fees. ;)

[BeatleBoot]

16. Enough.

Stitch it where you need to.

Carry on.

[jwirr]

9. That is exactly what FDR was talking about when he said "We have

nothing to fear but fear itself." Back then he was right but then he had a few things we do not have - plenty of cheap oil resources, the majority of people in rural areas and not in cities, etc. I also am too afraid to risk what I do have.

[CoffeeCat]

12. We've got farther to fall in 2009,

than we did in 1929.

As you said, most people lived in rural areas. Back then, people knew how to garden, sew, can their
own food and make food from scratch. People actually knew their neighbors. Life was much more simple back then.

Now, we call a professional seamstress when we need a button sewed on. We drive 45 minutes to work,
and we have 4,000 square-foot homes, $35,000 cars, credit cards, etc.

Losing everything in 2009 would be much more complex and shocking, than losing everything in 1929.

[notesdev]

11. I can answer most of those questions

"Will unemployment continue to rise?"
Yes.

"What will be the fallout when the second housing bubble bursts in 2009, as many predict?"
Another wave of foreclosures, a continued erosion of real estate values, another bunch of banks and their financial dependents go tits up.

"When will consumers start spending again?"
If you mean when they will return to credit-bubble spending spending patterns, the answer is in ~70 years, give or take a decade.

"Will my husband lose his job?"
Yes.*

"What effect will Obama's policies have on the economy?"
That depends on precisely what policies are put into place and when.




*just kidding, I have no idea

[CoffeeCat]

15. Wow, you're good.

Those guesses are as good as anything I hear from the talking heads on CNBC.

You could be right about hubby's job. His boss was fired last week.

:scared: <-----fear itself

[Hawkowl]

17. Uncertainty is its own answer

You are absolutely correct about the massive uncertainty hanging over 2009. Uncertainty is a major CAUSE of recessions. Businesses and individuals can't plan for the future so they delay spending and investment waiting for a more secure economic environment. Unfortunately Paulson, Bernake, and Bush have worsened the uncertainty. On the other hand, Obama has been a rock of stability in the shit storm of bad economic news. His main job is to restore confidence, quickly establish new ground rules, and exude confidence. Once his attitudes become the foundation of the general economic environment, businesses and individuals will again be willing to buy stuff and make investments. It typically takes a year or so though.

I think the majority of economic experts anticipate at least the first half of 2009 to be significantly worse than 2008 in all respects. So at least we are reasonably certain about that.

[notesdev]

19. Not just uncertainty

But uncertainty built on a foundation of mistrust.

And with good reason! How few companies have balance sheets that reflect their true financial positions! Lying is a way of life, a way whose time has come to an end.

[cabluedem]

18. What's to like? nt