Post # 1
I’m just so weary of it, in so many ways.
I feel like I don’t have a lot of hope for my own career prospects, and I feel even worse for many other people (such as young people looking for work in Spain and Greece and many parts of the US). I’m tired of politicians cutting vital social programs citing “austerity,” making it even harder on people and increasing desperation and crime. I’m tired of employers taking advantage of an “employer’s market” and bullying employees. I’m tired of cuts to environmental protections, that are worsening climate change and endangering our health. I’m angry that the people responsible for this economic crisis (the big banks, for example) get bailed out and that anyone takes seriously the concept of “too big to fail.” I believe that organizations can only get “too big to legally exist.”
I feel like it’s just been going on so long, longer than a typical recession. Am I wrong? I also feel like the global element is new. Didn’t it used to be more country-specific? I’m wondering if this one is really different and very difficult to get out of, because it’s global, because corruption is all the way to the top and nobody’s willng to do what needs to be done, or maybe I’m just seeing this from a negative/limited mindset. Maybe the Great Depression was as/more severe, maybe things are already picking up (as the politicians always say but which I see no proof of).
Have you noticed any signs that the economic depression is ending? Do you think about it often? Do you feel I’m blowing it out of proportion?
Post # 3
We watched this in my policy class yesterday…it’s from a Marxist perspective. It’s a pretty neat video.
Post # 4
That’s quite the loaded question!
And unfortunately I don’t have a solid answer, even though I get the question almost daily at work.
Here’s cliff notes on my response:
1. Things are improving, especially domestically (USA). Markets are close to pre-crisis levels.
2. However there are a lot of volatility in the future. Another wave of foreclosures, the economic slowdown of China, political and economic trouble in Europe, and the fiscal cliff could derail the global economy once again.
3. Any action by the Fed will be useless at this point (they wasted the last bullet in their gun on QE3).
4. A double dip recession is unlikely, but keep your money slightly safer than you otherwise would.
Post # 5
@icetea: Interesting video, thanks! Is there a second part where he talks about a proposed solution?
Post # 6
@BeachBride2014: Sounds like you’ve researched this stuff and I’m glad to see you think that overall, things are getting better! I could really use some good news/optimistic thoughts on the matter. Are there indicators in particular that give you this impression?
Post # 7
It’s my job :).
Spread levels are at pre-crisis levels, and markets are range bound, which pretty much means that investors are waiting to see what happens with the Fiscal Cliff.
Corporations outperformed this year due to improved earnings and strong fundamentals. It’s predicted that those fundamentals will deteriorate next year as companies have been adding risk to pick up yield.
The housing market has continued to post more positive than expected numbers, and the hardest hit areas are recovering. going into the end of the year, it’s estimated to drop off, but that seasonal.
Unemployment is still high, but that’s slowly been improving as well.
Basically, nothing is getting worse. In fact things are slowly getting better.
That isn’t to say that one of the things I mentioned in the prior post couldn’t happen to derail it.
Post # 8
Things are bad in areas, but good in others. I think it was actually a good thing for this region. The boom was actually doing some harm to people, and stores were reducing their hours because they couldn’t get enough workers to cover their normal shifts. While the growth of the housing market slowed down, prices haven’t really decreased at all. There have been some negative aspects here, but no where to the same extent as it has in other regions and countries.
Post # 9
@BeachBride2014: Yes, I understood (about the volatility). Thanks for going into detail about some of the optimsitic indicators. You did make me feel more hopeful .
Maybe it’s the pace of this recovery that’s dragging on me. I feel ready to burn rubber career-wise, but feel like the opportunities are not there (opportunities to work overtime, absolutely. Opportunities for that to pay off? Not so much.) I’m not taking risks and putting in my all, career-wise, because I feel like it would be useless at best, at this time. The doors aren’t open… I’m just going to hurt myself or at least just waste energy/time that could be put to other uses. But I want to. I’m motivated. Now would be good for me for the economy to be booming. KWIM?