Will the economy get better?

iVillage Member
Registered: 08-04-2008
Will the economy get better?
7
Fri, 01-22-2010 - 3:54pm

The news this year at least seems brighter to listen to than it was last year even though:



  • Unemployment is almost double what it was this time last year

  • Interest rates and credit lines have been kicked around by the banks

  • The stock market has fallen a couple hundred points this week

  • and Unemployment figures have not gone down as expected.

This thing might be with us longer than the news folks seem to want to say.




iVillage Member
Registered: 11-14-2008
Fri, 01-22-2010 - 4:17pm

My sales the January, so far, as compared to last year are down. It makes it quite hard when I have to pay tax for a profit with an already high credit line trying to pay Christmas bills. They increased minimum wage twice last year making it really difficult to pay employees. Not as to say I could raise a family on minimum wage. That would be tough.

I really hope the interest rate does not rise on my loans. It will at some point I know because it so low. That was another reason I wanted to get my ticker paid off. The interest rate is low and if it went up, it would be that much harder to pay off. I joke around and say, Oh I don't have to worry about the stock market, I have all my money invested in debt! I was hoping by the time I was done paying it off the savings rates would go up to make it easier to achieve my other goals.

I would not want to be an economist right now. It really isn't looking all roses.


iVillage Member
Registered: 10-01-2008
Fri, 01-22-2010 - 4:24pm

Yes & No.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 08-24-2007
Fri, 01-22-2010 - 4:48pm

Thanks to my own efforts (and this board), I am debt-free, so I'm currently in a better financial position than I've ever been.


However, my retirement savings are only earning 2%.

Kate


empty purse

iVillage Member
Registered: 09-22-1999
Fri, 01-22-2010 - 8:37pm

Hi, Marie,


I have an economics degree, but I just like to sit back and watch and see what happens around me economically......and I just don't see the economy

iVillage Member
Registered: 03-27-2005
Sat, 01-23-2010 - 11:03am
  • Unemployment is almost double what it was this time last year

  • Keep in mind that this isn't the bottom of the barrel.

    Avatar for colomom99
    iVillage Member
    Registered: 03-28-2003
    Sat, 01-23-2010 - 11:31am

    I think things are better but just much slower than most had hoped. There was a lot of wishful thinking going on when predictions were being made for 2010. It's really not unreasonable to try to put a positive spin on things when people felt so helpless and hopeless as they watched a death spiral for so long. I think what happens is even the slightest glimmer of improvement is magnified and everyone says, "OK, here we go" and that is probably not especially realistic. PLus, I think so much of what passes for "news" these days is really opinion or commentary and provocative commentary at that, which is more about creating controversy and manufactured outrage. But that is a whole other topic.

    I, too, see little things that point to small improvements. I am seeing Help Wanted signs in chain restaurants and stores again. Those did not exist six months ago. They aren't great jobs but I am hoping it means something. I also think people are spending again but are being really careful -- like the early bird meal specials and coupons. The job boards in my dying industry (journalism) even have a few jobs these days. Again, more new media stuff and I know every job gets hundreds upon hundreds of applications for really low pay but again six months ago there were none.

    I'm trying to maintain a glass half full outlook. I just think it is a storm we have to weather. What will be truly interesting is if people will continue to be frugal after things turn around or will they go back to previous ways. That is what scares me about myself the most.

    Jenny

    Avatar for cl_beckymk
    iVillage Member
    Registered: 03-19-2003
    Sun, 01-24-2010 - 6:59pm

    Do you really want to know????