Post by freedomrules3 on Sept 29, 2005 21:58:00 GMT -5
anyone besides myself seeing the signs of some hard economic signs ahead? at the age of 46 i have personally lived through two "dips" in the economy that were pretty bad.
the first was during the early 80's and enevitably caused me to move to maryland after losing my job at the steelmill. later during the early 90's i again saw a slow economy with high interest rates etc.
i saw "double digit" inflation once and can see the earmarks for another bout with that. it essentially makes your money worth half. it is already showing in housing costs and food , not to mention gasoline. soon all goods will show signs of gasoline costs thus raising the prices.
unfortunately with big retail and other small paying jobs, which have taken over our now "service economy", wages are not going up any. our once great manufacturing economy, which always pulled us out of a recession, has been "sold out " by corporate america and our politicians right before our eyes. no longer can you get a job at the railroad, steelmill, coalmine,plastic container co, millwork, etc and so on.
these jobs in manufacturing , pretty much insured you of a job for 30 years and then a retirement, are no longer existant. what will take us out of a bad economy if the interest rates are raised. construction, which is now the backbone of the economy, will slow and jobs will cease all along the line. suppliers installers etc will all feel the wrath of their high expensive mortgages. can construction and supply actually be able to bring us back on its own? i'm not sure but i can see the writing on the wall here.
now that i've brightened all of your days lol, lets hope greenspan doesnt decide to raise the rate too high too fast.
the first was during the early 80's and enevitably caused me to move to maryland after losing my job at the steelmill. later during the early 90's i again saw a slow economy with high interest rates etc.
i saw "double digit" inflation once and can see the earmarks for another bout with that. it essentially makes your money worth half. it is already showing in housing costs and food , not to mention gasoline. soon all goods will show signs of gasoline costs thus raising the prices.
unfortunately with big retail and other small paying jobs, which have taken over our now "service economy", wages are not going up any. our once great manufacturing economy, which always pulled us out of a recession, has been "sold out " by corporate america and our politicians right before our eyes. no longer can you get a job at the railroad, steelmill, coalmine,plastic container co, millwork, etc and so on.
these jobs in manufacturing , pretty much insured you of a job for 30 years and then a retirement, are no longer existant. what will take us out of a bad economy if the interest rates are raised. construction, which is now the backbone of the economy, will slow and jobs will cease all along the line. suppliers installers etc will all feel the wrath of their high expensive mortgages. can construction and supply actually be able to bring us back on its own? i'm not sure but i can see the writing on the wall here.
now that i've brightened all of your days lol, lets hope greenspan doesnt decide to raise the rate too high too fast.
