I just got paid.

CrispyDelicious · #1 07-09-2009, 09:29 AM

And after reading so many threads about how there are many of you out of work and struggling to get by (or even struggling despite having a job), I realize how much I take this for granted. To all those who are affected by this recession, if it were up to me, I would fire all the useless boneheads at my company and hire you in their place. Keep your chins up, folks, and for those you are lucky enough to still get a steady paycheck, thank your lucky stars you can still afford to live comfortably. Here's hoping we don't have to worry about this much longer.

rustynuts · #2 07-09-2009, 10:15 AM

I think we're in for a downhill ride for awhile yet, to be honest.

i_got_a_mohawk · #3 07-09-2009, 10:29 AM

Have to agree there sadly, think its going to keep going downhill for a while to come

Absentia · #4 07-09-2009, 11:12 AM

recession?
more like Depression

It's not going to get any better until the old farts in washington and wallstreet die or learn new business practices which I don't think is going to happen anytime soon.

we will al be in the poor house in about 2 years.

rustynuts · #5 07-09-2009, 11:17 AM

No one in power wants to admit it's a depression, but it's worse than any recession I've seen in the past thirty years, by far. I never saw friends losing jobs left and right like I have this year.

Edit: Where is the line between recession and depression? Does anyone know?

IconBasser · #6 07-09-2009, 11:19 AM

"juuuust got paid today, got myself a pocket full o' change!" (ZZ top)

Absentia · #7 07-09-2009, 11:19 AM

Quote:

Originally Posted by rustynuts

No one in power wants to admit it's a depression, but it's worse than any recession I've seen in the past thirty years, by far. I never saw friends losing jobs left and right like I have this year.

Edit: Where is the line between recession and depression? Does anyone know?

aren't they pretty much the same thing, just one doesn't envoke as harsh feeling in the people getting screwed.. i mean "general public"

D.Don · #8 07-09-2009, 11:23 AM

The things that follow now when companies have had their big smash bottom hit, is the mass-unemployment and everything related to that, it seems that at least on our side of the pond the companies have hit rock bottom now, so now there's a whole bunch o peeps who have no jobs. Still there are certain kind of sought after people still, social services and health care seems to be in a never ending demand of people, as well as "dirty" jobs as mechanics, plumbers and such.

Maybe some peeps will change completely and get a new career, though there's prolly gonna be quite a lot who will be out of jobs for yet another year or two over here.

;/

D.Don

rustynuts · #9 07-09-2009, 11:27 AM

Quote:

Originally Posted by Absentia

aren't they pretty much the same thing, just one doesn't envoke as harsh feeling in the people getting screwed.. i mean "general public"

Nope, not the same thing. A recession is a downturn in the economy of a couple of quarters, while depressions are measured in years from what I understand. But how much of a downturn over the course of a years or two (or a quarter or two) does it take? No one seems to agree on that.

Chipsonfire · #10 07-09-2009, 11:28 AM

Quote:

Originally Posted by rustynuts

No one in power wants to admit it's a depression, but it's worse than any recession I've seen in the past thirty years, by far. I never saw friends losing jobs left and right like I have this year.

Edit: Where is the line between recession and depression? Does anyone know?

A recession has a real, definitive description (though it escapes me at the moment, something about having a non-growing or shrinking gross national product for a certain amount of time) while a depression is far less precise. Basically, a depression is declared after the fact when historians look back and think "Well, that was certainly depressing enough". At least, that's more or less how my economics prof explained it.

jojobean39 · #11 07-09-2009, 11:32 AM

Quote:

Originally Posted by rustynuts

No one in power wants to admit it's a depression, but it's worse than any recession I've seen in the past thirty years, by far. I never saw friends losing jobs left and right like I have this year.

Edit: Where is the line between recession and depression? Does anyone know?

I believe a recession is at least two quarters of negative fiscal growth (more accurately Gross Domestic Product).

A depression is a loss of 10% (or more) of Gross Domestic Product over a year's time.

EDIT: I just found out my definition for depression is more a rule of thumb than a specific definition.

I don't think we are technically in a depression. I could be wrong, but I don't think we are even close (based on the definition given above). People were calling the economic situation a recession LONG before it actually was. Those are words that people like to just throw around, not realizing that they do have a technical definition.

DISCLAIMER: With that said, I am but an engineer and not an economist, so I hope I explained what I remembered about economics correctly. Maybe I can find that information on the internet somewhere.

WalterBush · #12 07-09-2009, 11:34 AM

Quote:

Originally Posted by rustynuts

No one in power wants to admit it's a depression, but it's worse than any recession I've seen in the past thirty years, by far. I never saw friends losing jobs left and right like I have this year.

Edit: Where is the line between recession and depression? Does anyone know?

A recession is defined as two quarters drop in GDP. This is a normal market cycle, though, just a temporary adjustment, so some economists like to define a recession by the rise in unemployment. The news media have turned "recession" into a bad word, but it's perfectly normal to have one every now and then.

Depression doesn't really have a set definition, since it's a bit of a catastrophe, and usually caused by several converging factors. Personally, I vote that we're way beyond normal market cycles, and well into depression.

DOH!! Beat me to it. I'm not an economist, either, but I'm a political junky and the two are often linked.

jojobean39 · #13 07-09-2009, 11:39 AM

I just found this:

Quote:

A good rule of thumb for determining the difference between a recession and a depression is to look at the changes in GNP. A depression is any economic downturn where real GDP declines by more than 10 percent. A recession is an economic downturn that is less severe.

http://economics.about.com/cs/busine...ressions_2.htm

So, as I remembered the "rule of thumb" correctly, it seems to be nothing more than that, a rule of thumb. Apparently there is no technical definition.

rustynuts · #14 07-09-2009, 11:43 AM

Yeah, I just read the same thing several places online, but there's one that piqued my interest. The National Bureau of Economic Research (NBER), the people who actually declare a recession or depression, considers that to be too simple of a definition because it "omits the possibility that you see two very tiny declines in two quarters, and [it also] doesn't look at other information for the rest of the economy, which may suggest that what is happening is not a broad decline."

According to NBER's definition, a recession occurs when a "significant decline in economic activity is spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."

So, while early last year our GDP was up, income, production, sales and employment were down.

warwick.hoy · #15 07-09-2009, 11:49 AM

In all fairness,...I chose to leave my ****** food service job. In a pinch I could go get another ***** food service job. That's the beauty of always being at the bottom of the totem pole. These guys that define success by the size of their house and the badge on their car are the ones that are really hurting when they find themselves in the unemployment line. (by that I mean mid level white collar guys)

For me,....I'm milking the not having a job thing for as long as my wife (no kids, and none wanted) will allow it. She almost prefers having someone at home to look after the place; clean up and cook meals so she doesn't have to. I've mentioned this a few times before, but it really has given us the opportunity to step back and simplify.

We used to live in an apartment that was bigger than we needed (we had a roommate that moved out at the end of the lease). We were paying too much for things we didn't use (Comcast, cut my bill by $100). It's also inspired me to take the steps to get back into school and get an education. I'm really trying to make lemonade out of lemons here.

It's also been an inspiration to give back. I've been volunteering here and there when I can to help keep the resume full. There is a Non-Profit, that I'm actually trying to get hired on at where I'll go and paint signs, fill CSA boxes. There is also a community kitchen that I'm going to go talk to next week.

I don't think,...."Spent 3 Months Posting on Talkbass" would look to good on a resume.

jojobean39 · #16 07-09-2009, 11:54 AM

Quote:

Originally Posted by warwick.hoy

These guys that define success by the size of their house and the badge on their car are the ones that are really hurting when they find themselves in the unemployment line. (by that I mean mid level white collar guys)

Yeah. My father in law had a great job with Fidelity not too long ago, but got laid off. (He isn't someone who defines himself by those things, he just had a nice paying job) He was making around $300k a year I suspect. He's having a harder time trying to find a job to replace that wage right now. Those jobs just aren't out there. Luckily he saved his big commissions and stuff.

I am very thankful for my job. The work flow seems okay now, though it was a bit scary about 6-8 months ago. I work in the power industry and when houses stop being built, power lines stop being built.

rustynuts · #17 07-09-2009, 11:55 AM

Quote:

Originally Posted by warwick.hoy

I don't think,...."Spent 3 Months Posting on Talkbass" would look to good on a resume.

Unless it includes:

Reviewed the Box of Awesome on its 'round the world journey.

warwick.hoy · #18 07-09-2009, 12:51 PM

Quote:

Originally Posted by rustynuts

Unless it includes:

Reviewed the Box of Awesome on its 'round the world journey.

GeneralElectric · #19 07-09-2009, 01:44 PM

I'm what you call one of those "bottom of the totem pole" kind of people. I make about 55,000 a year or so. Thats not much for living in New York, but I'm a student so I get almost all of it back in taxes.

That said, I got fired from my job a couple of weeks ago. Now I throw parties to pay rent, bills, and food. Hurray....

ADbassman · #20 07-09-2009, 01:52 PM

I consider myself lucky to have kept my job during this recession, but I've also been taking measures to make sure it stays that way. I'll be done with school in a little less than a year and already have a job lined up after that, so I really haven't been feeling the effects of this recession at all. If anything, everything is cheaper.