Are we headed for a "fall"?

Been w*rking all day to make a bit of money. Got to delay withdrawal from savings, in order to wait for the equity-to-food conversion rate to be a bit more favorable, you know.

Anyway, where were we? Oh yes...

Pete said:
Don't have much time left? I thought I saw in your signature you're 53. I'm 52. If you don't have much time, well.....
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Well, either you are running out of time too (but do not realize it), or I am really older than I want to admit, like FIREdreamer recently got suspicious about ;). Don't want to risk expulsion from this forum, you know. What is this geezer still working part-time doing in an ER forum, and why would anyone trust an old f*rt to do any good work?

...that's my negativity leaking out. I really feel the fundamentals are horrible. I can't see a logical case for an up side. I'm not here to argue or to convince anyone I'm right. I'm always hoping someone can provide me with a clear case in which employment, salaries, spending, and profits rise.

Most people in my extended family are on some kind of gov't support or are hurting. I really do hope your optimism carries the day, and you have your revenge in the morning.
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Seriously, I can see your point too. Just saw a Web article lamenting the fact that this month sees another group of college graduates getting thrown out there in the bleak job market, while many earlier graduates are still pounding the pavement, looking for that elusive job. The article described how a civil engineering graduating last year with 3 internships finally found work. As a waiter.

I really feel for people who want work and cannot find it. Life is really unfair. In a recession, people who are unemployed or retirees short of cash are forced to dip into their savings, while the other half is able to enjoy some amenities at lower costs, and to have money to buy equities at a fire-sale price.

I just don't know what to say to you. But there is one thing I often remind myself of. That is, our view of the situation is affected by the circumstances that surround us. We may see the world as rosy or gloomy as we see how our friends or relatives fare in this economy. I have seen some recent news about how the manufacturing field is coming back, but the service sector may be lagging this time. The high-tech or electronic sector is doing well, perhaps because it benefits from export as well as domestic consumption. I still own no iSomething, but look at the iPad thread in this forum and you see how people are clamoring for it. Somebody is making money...

Just trying to say that perhaps things are really picking up, but at an uneven pace across different sectors and different areas of the country. Just today, I saw a headline about 38 states seeing more jobs created. Of course I would not blame the previously mentioned civil engineer who is now serving food for not believing it.
 
NW-Bound said:
Seriously, I can see your point too. Just saw a Web article lamenting the fact that this month sees another group of college graduates getting thrown out there in the bleak job market, while many earlier graduates are still pounding the pavement, looking for that elusive job. The article described how a civil engineering graduating last year with 3 internships finally found work. As a waiter.

I really feel for people who want work and cannot find it. Life is really unfair. In a recession, people who are unemployed or retirees short of cash are forced to dip into their savings, while the other half is able to enjoy some amenities at lower costs, and to have money to buy equities at a fire-sale price.

I just don't know what to say to you. But there is one thing I often remind myself of. That is, our view of the situation is affected by the circumstances that surround us. We may see the world as rosy or gloomy as we see how our friends or relatives fare in this economy. I have seen some recent news about how the manufacturing field is coming back, but the service sector may be lagging this time. The high-tech or electronic sector is doing well, perhaps because it benefits from export as well as domestic consumption. I still own no iSomething, but look at the iPad thread in this forum and you see how people are clamoring for it. Somebody is making money...

Just trying to say that perhaps things are really picking up, but at an uneven pace across different sectors and different areas of the country. Just today, I saw a headline about 38 states seeing more jobs created. Of course I would not blame the previously mentioned civil engineer who is now serving food for not believing it.
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This is my situation. Got my Masters in 2008 and I'm still underemployed at a library job that's crushing my soul. I want to get into tech writing and UX design, and finding mentors and building up my portfolio has been a nightmare. At this point I'd be content just getting freelance work in these sectors in lieu of a full-time position.

I hear and read reports of how the economy is on the mend, but I don't see it. All I see is me struggling to pay student loans and pay for my health insurance out of pocket, my parents struggling to pay their mortgage (and I'm worried that they may be headed into foreclosure at this point,) and my friends working crappy jobs that are below their skill level and aren't related to what they went to school (and went into debt) for.
 
Anima Mundi said:
my parents struggling to pay their mortgage (and I'm worried that they may be headed into foreclosure at this point,)
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I wish you all the best.

I have 4 friends out here is So Cal. They haven't paid their mortgages in a year and none of them have gotten a nasty gram. Another was told by his tax attorney to stop paying even though he could afford it. The bank reset his loan, and he's now in his mansion with a low mortgage.

Now I'm not saying to cheat, but there are programs out there for people who are hurting.
 
Pete said:
I wish you all the best.

I have 4 friends out here is So Cal. They haven't paid their mortgages in a year and none of them have gotten a nasty gram. Another was told by his tax attorney to stop paying even though he could afford it. The bank reset his loan, and he's now in his mansion with a low mortgage.

Now I'm not saying to cheat, but there are programs out there for people who are hurting.
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My worst fears have been realized. They are in foreclosure status and they kept it hidden from me all this time. My dad runs his own business and it was a sudden drop in income that forced them to no longer be able to make the monthly payments, and spparently Wells Fargo has been a stubborn PITA with them and won't give them any options. I don't think there's any hope for them at this point and they may very well be forced to move out.

Things like this make me wonder if I'd be better off marrying some rich geezer for serious. :(
 
Anima Mundi said:
My worst fears have been realized. They are in foreclosure status and they kept it hidden from me all this time. My dad runs his own business and it was a sudden drop in income that forced them to no longer be able to make the monthly payments, and spparently Wells Fargo has been a stubborn PITA with them and won't give them any options. I don't think there's any hope for them at this point and they may very well be forced to move out.

Things like this make me wonder if I'd be better off marrying some rich geezer for serious. :(
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Have them try to talk to the lender and do some googling of loan modification programs that might be appropriate.

And if you keep making comments like that, some of the [-]dirty old men[/-] gentlemen of advanced years on the board might be willing to make your acquaintance...
 
Anima Mundi said:
Things like this make me wonder if I'd be better off marrying some rich geezer for serious. :(
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Not real likely Brewer, we cheapskates would be more likely to look down at the local homeless shelter for what's on sale today only. Hey Baby, how'd you like a Big Mac and Fries?

Ha
 
brewer12345 said:
Have them try to talk to the lender and do some googling of loan modification programs that might be appropriate.

And if you keep making comments like that, some of the [-]dirty old men[/-] gentlemen of advanced years on the board might be willing to make your acquaintance...
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Thanks for the info.

...and I should've used a different emote with my last post. My attempt at humor failed. :rolleyes:
 
Anima Mundi said:
I'm not sure. All I know is that it's through Wells Fargo. I'll have to ask them.
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If it is a conforming/agency mortgage, there are all sorts of modification programs and things like "deed for lease."
 
Anima Mundi said:
Things like this make me wonder if I'd be better off marrying some rich geezer for serious. :(
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Here you go.........this could be you with your dream geezer one day. :cool:

geezer.jpg
 
Anima Mundi said:
I don't think there's any hope for them at this point and they may very well be forced to move out.
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I'm very sorry to hear that. Strategy? Stick together. If you live together-stay in until they force you to move out. Cut everything to the bone. Sell all you can on Craig's list. Pool your money. Stay positive. Be supportive. I don't know how old you are. I was very emotional when I was young. This can be very traumatic. Seek emotional support from your friends.
 
My canary in the mine has been my weekly summer rentals at the lake.

For the last 4 years I've been able to rent July and August; booked solid by March the first year (raised the price); April the second (raised the price); May the third year. Now in my fourth year (no price increase) ... May is almost over ... 4 of the 9 weeks are booked. Three are to repeat visitors.

This is not so good. People are definately bracing for the worst to come.
 
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