Recession! What Recession?!

Along with an increasing tax burden we have a spiraling debt problem and the spending that is fueling has not stopped.

Not to mention the siphoning off the employed to keep the unemployed fed with unemployment extentions.

Hopfully the ratio does not hit a critical mass that they revery will be difficult at best.

As far as the OP......good for your dad. But don't let it go to his head.

p911

the recession is for those who are afraid of challenges and it is a opportunity for a challenging person.
the tallented people take this as a opportunity.

Regardless of your Dad's business the economy is still in the dumpster even if it is not officially in recession. A contractor friend of mine in Ohio just picked up his first job in 5 years.

Be nice if Krugman, Bernake and all the fool economic guessers would calm down their statements about how poorly things are going. They are all trying to place themselves in the position so they can say, 'I told you so'.

Enough people believe these clowns and listen to them to make their doom scenarios come true.

We are headed for a double dip recession...our company industry feels it the most and usually first. When the initial recent recession occurred, we felt it 2 months before the rest of the country felt it. We were put to 4-day weeks to keep our jobs and the company afloat. We went back to 5-day weeks for a while...and now...starting next week, we are back on 4-day weeks for 2 months after it will be reaccessed.

We are not out of the woods people.

"Is the media getting their facts straight?" Well no, but that's not the point, they sell entertainment.

A blatantly wrong story that sells newspaper (or whatever) is still a good story. If the story conforms to reality that's nice but not overly important (check out FOX news).

Also most stories are written by people in the industry or area of interest, so they have a particular axe to grind (notice how most real estate stories conclude that NOW is a good time to buy (or sell)).

Another also, most real world issues can't be simplified down to a Good/Bad, Yes/No answer, so any given 1000 word article necessarily over simplifies the data, points of view and conclusions (Any war story).

Hope I don't sound too cynical. I try to read as many points of view as I can and synthesise my own opinion. Ffej.

"Well no, but that's not the point, they sell entertainment."

More like they sell opinions.

I would suggest you wait until you grow up and run your "Dad's" business before you get into politics and the media's role. Also unless you want to go shirt sleeves to no shirt in one generation I suggest you learn your "dad's" business. 4 major contracts in a row Huh? This sounds like a "fishing" expedition.

Social Security! What Social Security? !

Some areas of the country were less affected by the down turn and don't have losses from hugely diminished property values to pay off.

Equipment sales are a leading indicator, they show the beginning of an upward trend. Employment, the way that the majority of us tell if there is or isn't a recession, is a trailing indicator. Equipment sales are to prepare for the construction starts that will employ the people.

It is the same on the way down, capital equipment sales diminish first, followed by the labor market.

Despite the fact that my Dear Leader told me yesterday that the recession is over, I still have my doubts. I am self employed, therefore I cannot collect unemployment. Work is slow, at best.

When I do get work, Dear Leader wants about 40% of my pay, so it can be redistributed to the people that apparently will be on perpetual welfare.....oops, I meant unemployment.

Glad to hear your Dad is doing well. The people that aren't doing well, or just plain don't feel like working, will need his money.

As an enterprising individual, that is making money, your father has made himself an enemy of the state. His wealth will be redistributed to the people that truly deserve it.

Just pray there is enough left in your trust fund to keep you blogging.

I wonder if you have any idea how insulting that is to people who desperately want to work but cannot find a job. Don't say, "Do something else, go work in a lower capacity". It doesn't work, employers are not going to employ a PE to do drafting work because the person will be gone as soon as normal work resumes; less experienced PEs will not hire more experienced PEs for obvious reasons. If you think that living on UC is comfortable, you have another think coming. I was downsized several times, being at supervisory level, I was one of the last out, after those that I supervised had taken any available jobs. The agencies told us that we should expect to be out for a month for each $10,000 of salary we made, it was pretty close in my case.

Being self employed was a decision that you made, I assume, in the light of all the facts. The double social security for the self employed has been there for a long time. Being self employed does not make you a superior being, become an employed person if your present state is not suitable.

I'm sorry if I've insulted you. I am one of the people that desperately wants work.

I have been working and earning my own money since I was about 11 years old. I never imagined a day would come that I would not just be able to go out and earn money. I am insulted that this no longer seems to be the case.

My post obviously does not apply to you. I have to tell you though, I personally know people that are on unemployment that have stopped looking for real work and will take a couple of days a week of cash work. Combined with their unemployment check, they are doing just fine.

My beef is not with you, or any of the rest of us that want to work. My beef is towards a government that seems to be working hard to make unemployment a lifestyle. This to me is unacceptable.

Don't take this as a personal affront, but, there are far too many people that operate just like water, and will take the path of least resistance, if given the opportunity.

The wealth of this country ultimately comes from two sources, manufacturing and agriculture; turning raw materials into usefull products by value added labor. For the last 20 years, we have seen these value added jobs outsourced to countries where labor is cheep. This has resulted in extreme short term profits for the the major manufacturing companys and their stock values going out of sight. As some people were reduced from high paying manufacturing jobs to lower paying service jobs, our economy seemed to be booming. But the jobs and wealth was going to those who were just moving money from one hand to another rather than creating real wealth. Easy artifical wealth and the prospect of more lead most of us to spend more than we could really afford. We were living on credit cards that could never be payed off.

The bubble burst last year, and no amount of government bailout financing is going to cure this problem. The only solution is putting American workers back work doing what we know best; value added manufacturing.

"For the last 20 years, we have seen these value added jobs outsourced to countries where labor is cheep."

If we accept your premise the the wealth of this country is generated by manufacturing and agriculture, how does one outsource agricultural jobs?

Regardless, as of 2005, 1.2% of the US GDP was derived from agriculture, 14.4% from manufacturing, and 76% of our GDP is from services.

I don't think that data supports your claim as to where the wealth of the country comes from. However, in 1987 manufacturing did account for 20.3% of the total GDP. As you claimed, outsourcing appears to have made its mark on manufacturing. Still, this is not a significant loss (between 1987 and 2005) since the difference only impacts the the total GDP by 5.9%.

While a 5.9% loss over 18 years is not necessarily good, the US GDP was still growing through that period, which the total GDP, is in fact, the wealth of this country.

The sources of the economic meltdown we have now are many, but the multitude of these are entrenched with our own private debt borrowing and policies and laws enacted by our legislators. The current situation is marred by the huge jump in the government deficit, which was 91.2% as of the second quarter of this year. It is predicted that the ratio of debt to GDP will hit 101% in 2011.

Greece collapsed at something like 106% before the European Union bailed them out. I have no idea who will bail us out. Looking at my currency in my wallet it states "In God we Trust." I guess that will be who will have to do it because I don't know anyone else that can afford it.

The source of the above information was taken from WorldBank.org.

I watched a documentary last night on what was called the "99ners". They are the bottom of the heap and what I saw was very depressing. The other unemployed were not even mentioned but they are supposedly in the tens of millions. Whoever is counting is trying to "rosy" the picture.

The worst thing that will happen is an increase in crime rate like in drugs, robberies, and fraud in general. It is cutting deep as I understand it and just because some are on the up does not mean others are not very. very desperate.

I shudder, Ky.

"The total number of Americans who are not working full-time but ought to be is actually about 22 million, or 15.8 percent, according to the Bureau of Labor Statistics."

That means that more than 1/3 of the unemployed are not officially counted statistically.

Yes, crime is on the raise. We had our first burglary at my house about a month ago. After the event it gives you a chance to start asking questions and gain an understanding of what is happening around in your own community. Crimes like ours go mostly unnoticed. They are not sensational, so the news does not illuminate them. The are recorded by the police, but the odds of recovery or catching the thieves is very low.

Guns are flying off of dealers' shelves. Applications for permits continue to rise. Arizona just passed legislation that now allows anyone who is legally permitted to own a firearm the right to carry that firearm concealed without a permit. They already had open carry (right to carry a firearm visibly in a holster). A lot of this is, in my opinion, overreaction to the news and in the case of Arizona, the fear of the Mexican Drug Cartels spilling over the border, which may not be overreaction. Some cartels are offering a $1,000 sign-on bonus for joining!

According to the U.S. Bureau of Justice, in 2008, over 7.3 million people were on probation, in jail or prison, or on parole. That's 3.2% of all U.S. adult residents or 1 in every 31 adults. That population is growing rapidly. We have the highest number of people incarcerated in the world. We don't have enough cells to hold them all.

Shocking information. We only have 21 million residents here in this country so hearing figures like this is really amazing. The situation in the US seems to have the potential to brake out in a civil war if nothing can be done about it. I know not enough and can only go by what I see and hear on Jim Lehrers PBS news show.

Very volatile situation, to say the least. I hope the trend will go the other way but it will take time and will require educating people and give them meaningful employment. It saddens me to see how completely innocent people can be caught up in this and have no way to escape the vicious cycle.

And then to witness that the big end of town is catered for and although being the cause of many of the problems go free and do and are allowed to do what they do best. Ruin a great nation like yours!This is getting a bit political by now, so I'll shut up and sit and eat humble pie.

The OP is wearing pink glasses or is he not? I wish I could do more than sit on a fence half way around the planet. We are still the "lucky country" and hope we could share with you. How am I going to do this? I have no idea but my thoughts go out to you, Ky.

"The OP is wearing pink glasses or is he not?"

When sitting in the center of a lush garden in the middle of the land of the famished, the world looks rich and succulent.

Yeah, tell me about it! I feel ashamed of being so blessed. Got any advice on what I could do? Short of coming over there and seeing it all face on? I wish I could help, Ky.

I'm going to 9-28. Restoring honor gathering at the Lincoln Memorial. I will be there to represent you. Don't feel ashamed, you have earned everything you have. I love America and I love Australia, as well as the rest of our allies. I, for one, am not going to sit back and watch "our" world get turned into a piece of crap. Your post, in itself, has helped ky, Thank You!

I meant 8-28. My time had lapsed. Sorry.

Yep, go there.

"If I had 8 hours to cut down a tree I would spend 6 hours on sharpening my ax."

or something similar. Good old Abe, would be spinning in his grave if he saw this act of high treason which is perpetrated on the wonderful people of your Land.

One of my favorite sayings of all time. Good luck and fly those colors high, Ky.

Thank you, my brother. I will go there, not only to represent you, but your whole country!

PS Don't think for a minute, that I don't realize, that brave Australians are dying to preserve my freedom. If given the opportunity, I will gladly return the favor.

Congrats to your Dad.

Are those private sector projects or gov't?

If gov't, is the source of the money TARP?

If TARP, my pocketbook needs a thank you.

Hooker

Besides the fact this is a BS question and "Dad?" thread, there is something that is missed about exporting American jobs and "cheap labor". The "cheap labor" issue in America's loss of jobs I believe is a straw dog that is generally accepted as true. It is an issue exploited by Unions and the wind vane left wing idiots and nut cases in America looking to destabilize America.

Has anyone lately looked at what a modern manufacturing floor looks like. It is full of automated and robotic equipment. The human labor factor of cost represents a very small portion of the total manufacturing cost. Our politicians especially those controlled by big labor really do not want the truth to get out. The real cost of manufacturing in America is Union benefits that are being paid for non production. Real production in America for some time now is due to not labor but capital investment. That means that the cost of capital, including interest and taxes is one of the real reasons for outsourcing American jobs in addition to the high cost of non productive and non producing labor that is controlled in most big manufacturing areas by the Unions.

Lets make it more simple by example. You have a big earth moving contract. Your have a choice hire 100 Union coolies all on a shovel with wheel borrows or a 955 Caterpillar front loader to move the earth. The union workers have so many work rules and residual benefits that you have no choice but to invest 3/4 million in the loader.

However in America with the politicized unions you still have to hire many more coolies than you really need. The unions of course look at the total production and with the Owner's capital investment in the loader their coolies look good--- total cubic yards are way up. In fact they, the union coolies, are parasitic and their negative value to the company could still put the company under even with the huge capital investment in the loader. So what to do? If it was your money at risk what would you do. Don't forget the real cost of capital with interest, taxes & reduced depreciation schedules is also anti business high due to the current class warfare now going on in America.

One more comment about investment risk in America and overseas job losses. Under the pension benefit laws in America underfunded stated benefit pensions can grab company assets to fund themselves and wipe out bond holders who essentially put up the "low risk"capital to make the company work. OK so now what do you do with your money. Under the class warfare of the current BHO administration the bondholders of GM and Chrysler were wiped out and the Unions now own the company assets and for all effective purposes run the company. The nuts have taken over the nut house.