how long is this recession gonna last?

[Dancing Fire]

does business look slow in your area like shopping malls and restaurants ?

 

[decodelighted]

I went to the movies this weekend ... saw a top five box office film... the theater was EMPTY ... on a SATURDAY NIGHT.

Scary!

 

[joflier]

I was at the mall and that was the same as always. My bff works at the COACH store and they''ve actually been selling OUT of their newest line! They haven''t slowed down at all.

 

[goobear78]

The malls around me are just as packed as always, but I have no idea how much if any people are spending. I will say that I feel like I''ve gotten more sale coupons and flyers than ever before. I''ve also seen more stores with 25 & 25% off sales. So to me, that means they must have inventory they need to sell.

My guess is we will be in this mess for sometime. How long? I don''t know. But I do expect it to get worse before it gets better. I hope I''m wrong.

 

[strmrdr]

3 to 5 years min.

yes its slow.

 

[Tacori E-ring]

Date: 10/20/2008 9:08:51 PM
Author: strmrdr
3 to 5 years min.

I agree. It will be years...

 

[Skippy123]

Date: 10/20/2008 9:22:16 PM
Author: Tacori E-ring

Date: 10/20/2008 9:08:51 PM
Author: strmrdr
3 to 5 years min.

I agree. It will be years...

eek, I hope not.

I think it will be 2 1/2 yrs.

 

[deegee]

The mall was packed Saturday. My husband dropped me off at the door and then joked that he had to take a cab from the parking spot to the mall. Later that evening, we went to 4 restaurants before finding one that didn''t have a ridiculous wait.

 

[SarahLovesJS]

Haven''t seen much slowing. Some restaurants are a bit more empty, but overall not really any change that I can see.

 

[purrfectpear]

Deader than a doornail in the midwest. Of course it doesn''t help that Boeing''s strike is about to shut down the largest employer in the city (aprox. 12,000 workers will be furloughed).

 

[MichelleCarmen]

DH and I quit eating out, so I'm not sure about resturants, BUT, recently, I made two weekend outings to the mall and finding parking was nearly impossible!

After having witnessed women in droves at the "high-end mall," I wondered are they just window shopping, or possibly maxing out their credit cards, or possibly among the lucky bunch who are resession proof. Who knows, but there are plenty out there STILL shopping and probably NOT reading the business section of the news paper and may even be oblivious to what our nations current economic status is, so "buy, buy, buy," is all that's on their minds. Oh and by the way, Macy's is having a sale, but it won't last long! Coupon is only good until Monday.

 

[zhuzhu]

I think it depends on who is going to be elected in a couple of weeks. If it is McCain, I am afrid recession will last a lot longer, and possibly turn into depression.

 

[Dancing Fire]

Date: 10/21/2008 1:18:42 AM
Author: zhuzhu
I think it depends on who is going to be elected in a couple of weeks. If it is McCain, I am afrid recession will last a lot longer, and possibly turn into depression.

why??

 

[ChargerGrrl]

Macy''s & Bloomies, EMPTY
Costco & Target, PACKED

We''ve got a couple tough years ahead of us!

I read in one of my trades today that consumers expect to spend an average of $1,437 over the Holidays (down $200 from last year)

 

[zhuzhu]

Date: 10/21/2008 7:07:05 PM
Author: Dancing Fire

Date: 10/21/2008 1:18:42 AM

Author: zhuzhu

I think it depends on who is going to be elected in a couple of weeks. If it is McCain, I am afrid recession will last a lot longer, and possibly turn into depression.

why??

I believe in being financially-responsible: budget the book carefully and responsibly, live under the means, plan ahead with realistic expectations, invest with caution and understanding of one''s risk tolerance. I do NOT believe McCain has clear understanding of the economic crisis this country is in, nor the expertise to get the economy back to the right track. Following is an article presenting opinions from a number of experts that I trust everybody knows of and has respect for:

"Alan Greenspan: McCain tax policy unsupportable

Late last week, Alan Greenspan, retired Chairman of the Fed. Reserve, said he could not support McCain’s tax cuts unless there was an offsetting decrease in spending.

Greenspan told Bloomberg News he was “not in favor of financing tax cuts with borrowed money” when asked if the United States could afford big tax cuts such as those proposed by Republican John McCain.

McCain has focused on cutting out earmarks by using a non-existent line item veto and reorganizing departments. That may save a few million dollars, if he actually had the ability to do so. However, that will not offset the proposed $400 million McCain proposes to give to the wealthy. Nor will it reduce the half trillion dollar deficit racked up this year. The national debt has now reached $3 trillion…and could go much higher.

According to economic experts, the U.S. financial situation is at the tipping point…which is another reason why Secty. Paulson would not bail out Lehman Bros. as it did Bears Stearn. The U.S. Treasury simply cannot afford it.

Former Treasury Secretaries Robert Rubin and Larry Summers told Charlie Rose on the Charlie Rose Show (on PBS) last Wednesday that the next President and Congress must use fiscal restraint: everything must be paid for, especially for long term planning.

Echoing what came today, both agreed that this is the worst economic situation since the 1930s and if ignored or not aggressively attacked, could get much worse. Rubin said that the current fiscal problems are “a perfect storm.” He added that the next President “needs a seriousness of purpose and a deep sense of fiscal discipline” to handle the current financial problems facing both the government and the country.

Neither believed that McCain had the “seriousness of purpose and a deep sense of fiscal discipline” to get the country back on track. Both endorsed Obama’s economic plan.