Do you think were headed for a recession?

**brenda67** · 10-19-2007, 05:31 PM

I was talking to my Dad yesterday about it and he said he think's were already into a resession? To top it off (he's in the Union and his work is year round) he mentioned that 2 of his sister unions layed off all their workers last week.. of coarse that made me think that there was a good possibilty that it could happen to him so I tell him to start socking away some money..his replie was he would be one of the last to get laid off cause he's a good worker and theirs plenty of work... So tonight a get a phone call from him saying his worst nightmare came true..Yes you guessed it he was layed off this morning...

When talking to my Dh yesterday about this same conversation he said that that would make sense since his place of business has been on a downhill climb all year... Although he's another one that doesn't think he would be layed off because he is so vital to the company.. BTW my Dh works for a racing school and you can't just find a job anywhere in that field..

Instead off paying off all our credit card dept right now I'm keeping all the money in the bank to be safe..I personally don't feel comfortable only having $5000.00 as a safety net when we don't know what the following months have in store for us..I'd rather be safe then sorry..I know alot of people are thinking that they would rather payoff their dept.. But I know right now that we are on easy street as far being able to pay our bills each month with having at least $1000.00 leftover each month..but what if my Dh did lose his job? We wouldn't make enough to cover the bills on just my income..I'd rather file for Bankrupcy then deplete our funds if push came to shove..JMHO..

**Its_Donna** · 10-19-2007, 05:53 PM

I am gonna agree with your Dad. All the tell-tale signs of an impending recession are upon us: high unemployment, subprime interest rate problems, stagnant housing market, no or very slow economic growth over the past year, no boost to the stock market, fuel and energy prices are reaching all time highs.

This living frually is definitely the way to go for us. I plan to hold on to all I got.

**brenda67** · 10-19-2007, 06:02 PM

I read CNN.Com everyday.. Please read this article posted today it's a real eye opener for all of us..

http://www.cnn.com/2007/LIVING/wayof....ap/index.html

**staceyy** · 10-19-2007, 09:04 PM

Yes, I also feel we're in a recession. I'm trying to stockpile enough food for a year and socking away as much money as I can.

**Missourimom** · 10-19-2007, 09:14 PM

I also feel like we're in a recession. All we can do is keep pinching the pennies and cutting non necessities out.

**Luv2BeFrugal** · 10-20-2007, 02:40 AM

I think we're already in a recession... I just hope it doesn't stick around for a long time.

**Laurie in Bradenton** · 10-20-2007, 08:42 AM

Its a recession/depression/etc.. If you look back on history you'll see that we have these wil regularity. In the 1890's, 1930's,1970's now 01's. Each time it starts with a great econmically time before the decline. The common everyday guy is the one who usually gets buned. They over invest or take chances and then when the deal goes bad its too late.
This time it was housing that got out of hand. Way too creative finanicing offering homes with o money down, for intrest only, and ballons. We saw prices go crazy with folks paying more than asking prices. This idea of flipping homes and making huge amounts of money fooled folks into over purchasing.

LAurie in Bradenton

**rainbowgc** · 10-20-2007, 09:13 AM

Definitely on the banks of a recession in my opinion.

**Marie78** · 10-20-2007, 10:05 AM

I agree we are there. I think where I live is typical of many places. Unemployment is high, food pantries are asking for donations all the time on the news. House sales are stagnant. Gas prices are high, and food prices are going up too. I have suffered 2 bouts of unemployment in the last 3 years. I hope the job I am in now lasts many years (I won't be looking around, that's for sure).

I am thankful I found frugal village. I keep on track financially by seeing how the rest of the village is coping with the economy the way it is. I use tips that I find here to stretch my $1 and make sure that we are able to pay the bills each month.

**Teaorange** · 10-20-2007, 01:29 PM

If we aren't in a recession yet we are definitely heading there quickly. I think these reports that the economy is good is wishful thinking, to put it mildly. You know, the government reports treat the people like they are too stupid to see the reality staring them in the face, so they keep putting out their sunny propoganda about a good economy. It's the ordinary citizens that are feeling the bites of it all. My husband and I are okay for now because being retired we don't have to buy gas to get to work every day, but these gas and food prices are putting a real pinch on my son's ability to support his family. They have been struggling ever since they got married. He is fortunate that he has a permanent job (mailman) and enough seniority that he wouldn't lose it, but they have no emergency fund and no way to even build up one, so we help out when we can. But that puts a strain on us, because like I said we are okay, but certainly not in a cushy position, finance wise. Anymore increases in anything or a crisis in something else and we all will be suffering. Dar-T

**jamie79** · 10-20-2007, 04:57 PM

We are all ready there

**kcsmom76** · 10-20-2007, 05:46 PM

Originally Posted by jamie79

We are all ready there

What she said.

**frugalfarmwife** · 10-20-2007, 06:17 PM

Another thing is the crop situation, many areas had drought, poor crops, many areas flooded, poor crops. And to make it worse MANY of the farmers in the good weather areas planted corn, corn and more corn, so not much in the line of oats, wheat, soybeans or hay being grown. There is also be a shortage of beet pulp for feed due to farmers buying it for roughage for cattle due to the shortage of hay.

Hay prices in my area have gone from $2.00 a small bale to as much as $10.00 a small bale and most is being shipped out of state. Oat prices have doubled.

This will only make the food prices go up and up, and many farmers are REALLY facing tight times right now.

Honestly, with horses being a luxury the horse world IS seeing an emergency, many horses are facing either slaughter or starvation with winter coming.

I know that personally I'm stocking up NOW, we're VERY fortunate we grow our own hay and got a fairly good crop, but grain is going through the roof, my feed went up 20% in the last month alone.

kj

**brenda67** · 10-20-2007, 07:00 PM

Originally Posted by frugalfarmwife

Another thing is the crop situation, many areas had drought, poor crops, many areas flooded, poor crops. And to make it worse MANY of the farmers in the good weather areas planted corn, corn and more corn, so not much in the line of oats, wheat, soybeans or hay being grown. There is also be a shortage of beet pulp for feed due to farmers buying it for roughage for cattle due to the shortage of hay.

Hay prices in my area have gone from $2.00 a small bale to as much as $10.00 a small bale and most is being shipped out of state. Oat prices have doubled.

This will only make the food prices go up and up, and many farmers are REALLY facing tight times right now.

Honestly, with horses being a luxury the horse world IS seeing an emergency, many horses are facing either slaughter or starvation with winter coming.

I know that personally I'm stocking up NOW, we're VERY fortunate we grow our own hay and got a fairly good crop, but grain is going through the roof, my feed went up 20% in the last month alone.

kj

I'll have to ask my Uncle how much he is selling his bales of hay for... he has been in this business for at least 15yrs..it does help that the family owns 800 + acreas .. My family went out of the farming business in 1980 due to not making enough money..Sad before I was born they had all 3 of their farms running all at once... I really miss our farm..

**frugalfarmwife** · 10-20-2007, 07:34 PM

Originally Posted by brenda67

I'll have to ask my Uncle how much he is selling his bales of hay for... he has been in this business for at least 15yrs..it does help that the family owns 800 + acreas .. My family went out of the farming business in 1980 due to not making enough money..Sad before I was born they had all 3 of their farms running all at once... I really miss our farm..

I have friends in the NY area, they've been lucky with fairly decent hay prices this year there, luckily!

And another problem, with China now using more dairy products they have dairy herds but not enough farmland to support them, so they're buying hay and shrink wrapping it and shipping it in. WA state is in BAD shape, prices there are even higher for the locals. Oh, and in CA, an 80# bale is easily $20.00 now.

Yep, we're all buckling down and checking the reserves around here on the farms.

kj