THE BORE

General => The Superdeep Borehole => Topic started by: The Fake Shemp on February 03, 2008, 01:22:38 AM

Title: The economy really is going to the shitter - anyone scared?
Post by: The Fake Shemp on February 03, 2008, 01:22:38 AM: Working in retail, I think you get to see the worst aspects of a dying economy on a smaller scale. But I tell you, I've seen a lot of things the past couple of months that really worry me. Does anyone think we could be heading for some kind of epic economic disaster?
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Van Cruncheon on February 03, 2008, 01:24:02 AM: we're headed for a serious recession, but on the scale of the great depression? not a chance.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Ichirou on February 03, 2008, 01:24:44 AM: We're fucked.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: The Fake Shemp on February 03, 2008, 01:24:59 AM: I'm certainly not saying that, but I think we're heading for bad times the likes none of us (including you old farts too) have seen in our lifetime.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Joe Molotov on February 03, 2008, 01:25:20 AM: The economy always has ups and downs. I ain't scared. Yet.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: CajoleJuice on February 03, 2008, 01:26:19 AM: Sell your U.S. economy, it's all over?

Yeah, I'm sorry that I really have nothing intelligent to add.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Van Cruncheon on February 03, 2008, 01:26:36 AM: gamestop manager fears economic disaster: dow plunges
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: The Fake Shemp on February 03, 2008, 01:27:01 AM: I'm personally not scared for my well being - I feel relatively secure in my position for a lot of reasons, but I really do worry about our economy in general. I've already see it start to negatively effect folks.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: The Fake Shemp on February 03, 2008, 01:27:39 AM: Quote from: Professor Prole on February 03, 2008, 01:26:36 AM
gamestop manager fears economic disaster: dow plunges

:lol
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: CajoleJuice on February 03, 2008, 01:29:13 AM: Well, at least we at Evilbore have been doing our part.

EVILBORE: HELPING DELAY THE IMMINENT RECESSION SINCE 2006
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: The Sceneman on February 03, 2008, 01:30:36 AM: its actually good for me, weaker US dollar = cheaper games off Play-asia for moi
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Raban on February 03, 2008, 01:32:17 AM: Well alot of analysts are saying that if we go into recession it'll be short and shallow, so I'm not too worried. However, even if that's incorrect, our economy is way more developed than it was the last time we were in the shitter. And even if it does get really bad, even if it reaches Great Depression status, well it took us only a decade to get out of that shit, so it's not going to be some global disaster.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Fresh Prince on February 03, 2008, 01:32:42 AM: It's weird 20 years ago fall of the US = fall of the world. Now because of China it's more like China can save us all!
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: CajoleJuice on February 03, 2008, 01:33:18 AM: Quote from: Gearharaden on February 03, 2008, 01:32:17 AM
And even if it does get really bad, even if it reaches Great Depression status, well it took us only a decade and a world war to get out of that shit, so it could be some global disaster.

Fixed.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: MrAngryFace on February 03, 2008, 01:33:50 AM: At least ps3 is selling well (Gamestop tm)
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: MrAngryFace on February 03, 2008, 01:34:53 AM: Also, to be honest im not worried. Why? Illl adapt or ill be stupid and I wont and ill get what I deserve. Whats the point shakin in my boots?
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Raban on February 03, 2008, 01:36:02 AM: Quote from: CajoleJuice on February 03, 2008, 01:33:18 AM
Quote from: Gearharaden on February 03, 2008, 01:32:17 AM
And even if it does get really bad, even if it reaches Great Depression status, well it took us only a decade and a world war to get out of that shit, so it could be some global disaster.

Fixed.

Bah! To think that the world will have another traditional war in this century is nonsense. Everyone is too scared to use nukes, and the US relationship with China is way too mutual to be affected by anything short of a real global disaster like mass plague or global warming on steroids. If another war comes to be, it'll be more like Cold War 2, not World War 3.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: demi on February 03, 2008, 01:36:27 AM: I'm doing my part. Pirate more games! Spend less! Survive the crisis!
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Eric P on February 03, 2008, 01:41:11 AM: i'm not concerned honestly.

my business sells predominately to small and medium sized businesses and we're not having any loss of clients
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Rman on February 03, 2008, 01:49:52 AM: I'm not too concerned as my company is mostly caters to colleges and educational institution. I'm a bit mad that the government is thinking of bailing people out due to poor financial sense on their parts.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Mandark on February 03, 2008, 02:11:07 AM: You're worried? Try reading Paul Krugman regularly and see how you feel then.

Whether there's an official recession or not and however long it lasts, we're probably in for a few years of the more loosely defined "crappy economy".
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: abrader on February 03, 2008, 03:20:46 AM: Quote from: Willco on February 03, 2008, 01:22:38 AM
Working in retail, I think you get to see the worst aspects of a dying economy on a smaller scale. But I tell you, I've seen a lot of things the past couple of months that really worry me. Does anyone think we could be heading for some kind of epic economic disaster?

Yes.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Raban on February 03, 2008, 03:22:50 AM: Quote from: abrader on February 03, 2008, 03:20:46 AM
Quote from: Willco on February 03, 2008, 01:22:38 AM
Working in retail, I think you get to see the worst aspects of a dying economy on a smaller scale. But I tell you, I've seen a lot of things the past couple of months that really worry me. Does anyone think we could be heading for some kind of epic economic disaster?

Yes.

LIES
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: abrader on February 03, 2008, 04:15:27 AM: The best thing you can all do right now is get some military training!

(this does not mean join the army, et..)
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: ToxicAdam on February 03, 2008, 04:20:13 AM: Mid-80's and early 90's were really bad in Ohio. I don't think it could get worse than that.

spoiler (click to show/hide)
Because we are bottom of the barrel, as it is
[close]
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: xnikki118x on February 03, 2008, 05:25:31 AM: Quote from: Joe Molotov on February 03, 2008, 01:25:20 AM
The economy always has ups and downs. I ain't scared. Yet.

Same here.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: GilloD on February 03, 2008, 06:34:54 AM: I'm pretty spooked. There are a lot of bad signs. Consider: China's crop is fucked. China has already been driving grain price through the roof. We sent all our grain to be turned into Ethanol. Hence: MOTHERFUCKIN EXPENSIVE GRAIN. There are just a lot of little things that point to a bigger problem. We've known for decades that the economy was a house of cards built on greed and debt and now we're starting to see the cracks in the foundation. The Cold War emptied our coffers, the Iraq War is making us flat fucking broke.

No one our age has seen anything like this, least of all in the age of global economy. It will be very fucking interesting.I'm almost glad I'll be in the 3rd world for the next 2 1/2 years.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: pollo on February 03, 2008, 07:36:14 AM: I'm not worried just because the people I care about (my parents) are in the right industry when it comes to the recession, so they'll be protected.

Other than that I don't care whether or not I get affected. I'm sure I'll be resourceful and smart enough to ride it out.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Himu on February 03, 2008, 07:41:37 AM: Quote from: Willco on February 03, 2008, 01:22:38 AM
Working in retail, I think you get to see the worst aspects of a dying economy on a smaller scale. But I tell you, I've seen a lot of things the past couple of months that really worry me. Does anyone think we could be heading for some kind of epic economic disaster?

And what are these things you see?
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Ichirou on February 03, 2008, 08:22:41 AM: Sales going down?
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: cloudwalking on February 03, 2008, 08:23:13 AM: haha, i managed to get out of the country before things went down the drain.

enjoy your recession, suckers

:bow europe :bow
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Ichirou on February 03, 2008, 08:35:35 AM: If there's a really serious recession...like, on the scale of the Great Depression...it will affect the world economy. :/
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Himu on February 03, 2008, 08:56:55 AM: Quote from: Ichi on February 03, 2008, 08:22:41 AM
Sales going down?

don't sales at games stores go down in this time of year anyways
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Barry Egan on February 03, 2008, 10:30:40 AM: Quote from: Himuro on February 03, 2008, 08:56:55 AM
Quote from: Ichi on February 03, 2008, 08:22:41 AM
Sales going down?

don't sales at games stores go down in this time of year anyways

He's probably cross-referencing data from last year.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: FlameOfCallandor on February 03, 2008, 11:06:12 AM: Its gonna get worse over the next 10 years.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: FlameOfCallandor on February 03, 2008, 11:11:18 AM: Expect massive inflation when china decides to give us back all of the money we have been printing.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Rman on February 03, 2008, 11:28:52 AM: Quote from: Himuro on February 03, 2008, 08:56:55 AM
Quote from: Ichi on February 03, 2008, 08:22:41 AM
Sales going down?

don't sales at games stores go down in this time of year anyways

Entertainment industries have been known to be slightly recession proof IFC.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Eel O'Brian on February 03, 2008, 11:42:57 AM: my business is pretty recession-proof (if anything, business will pick up for me), so no worries here
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Phoenix Dark on February 03, 2008, 12:29:55 PM: Economists have been "predicting" a recession for some time. I'm not sold it will officially happen, but there's no denying times are tough.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Bloodwake on February 03, 2008, 01:46:53 PM: Yep, I'm fucked.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: The Fake Shemp on February 03, 2008, 02:49:23 PM: Sales have not gone down in my business, simply because entertainment still fares pretty well in bad economies. GameStop in particular is doing well because we give desperate folks cash for games, which in turn gives us more used inventory that cash-strapped people will buy. I'm talking about seeing way more over qualified resumes, turmoil in the retail sector (Sears just laid off a bunch of folks who are flooding our company with resumes, several retail chains have cut hours so bad that folks are looking for retail work... in JANUARY), customer service trends (the data backs this up - we're dealing with more irate customers, especially in regards to returning open merchandise due to financial concerns) and a lot more people selling off their stuff than what is usual.

Most of it is good for me, because I get a better pool of workers to choose from and more product on my shelves, but the customer service aspect has become a real juggling act. People want their money back for $60 games that suck because they don't have that kind of money to buy another game. They won't take no for an answer. In general, you got a few of these customers in early and mid-2007. It increased with the holidays. It's hit like a fever pitch the past month. I pretty much only deal with these kind of customer complaints on weekends now - I don't even ring or help other folks.

Yesterday alone was pretty nuts. I had one guy want a refund for a gift card that he bought in December, but he lost the gift card and the receipt. I had no less than six folks who bought either new PS3 and Xbox 360 games at $59.99, open them and play them (and hate them), who wanted a full refund or exchange. I had several people try to return stuff they bought from December... in February (one drunk dude tried to return a new copy of Heavenly Sword he bought on like 12/10 that had smudges and scratches on it, and spat in an employee's face once they said no). And my favorite complaint yesterday was that I was accused of being a cheap, dirty fucking company because someone bought a 360 Premium in December and it "did not have a wire for the controller".

That happens a lot nowadays, though. We're even undergoing new coaching on how to handle new customer service experience and stuff, because some stores have kind of been hit hard with this stuff.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: lordmaji on February 03, 2008, 04:24:15 PM: cross forum discussion is always looked down upon. :lol
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: The Fake Shemp on February 03, 2008, 05:27:51 PM: Quote from: Spencer on February 03, 2008, 04:27:01 PM
Aren't there always retail lay offs this time of year? The extra holiday help is let go.

Yeah, holiday hiring is letting go, but several retail companies had such bad or mediocre Quarter 4 that they're "restructuring" and letting go of not just holiday hiring, but veterans and management. I know that we'll be poaching a few management folks from Sears in particular.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: brawndolicious on February 03, 2008, 06:17:18 PM: Quote from: Spencer on February 03, 2008, 04:27:01 PM
Aren't there always retail lay offs this time of year? The extra holiday help is let go.
yeah but for company-wide restructuring, they fire them right after the holidays (I guess they can predict Q4 results to figure out how much to lay off but they don't want to make a lot of people sad on the holidays). they usually fire every temp or everybody who was new. normally, the big tech companies do lay-offs around this time of year and then rehire throughout the year to make sure they keep the best employees but I heard that the lay-offs were much larger this year compared to last year from people I know in those companies. it seems to be a lot of companies with big problems right now.

I don't know if the economy will bounce back within the next year but people were fucked over particularly badly this year.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: lordmaji on February 03, 2008, 06:55:36 PM: Quote from: Forgotten Ancient on February 03, 2008, 04:50:01 PM
It's good for the business I'm in, but it is pretty depressing.
I don't think Michigan can fall much further than it already has, but who knows.

It's "sad but trueeeeee"
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Fresh Prince on February 03, 2008, 06:58:55 PM: Graduates I think will be pretty fucked. Construction too.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Ichirou on February 03, 2008, 10:19:30 PM: Where are you looking at to buy a home? Tokyo?
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Ichirou on February 03, 2008, 10:36:03 PM: You should look at homes in Saitama. ;)
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Ichirou on February 03, 2008, 11:04:01 PM: Quote from: dcharlie on February 03, 2008, 10:54:37 PM
Quote
You should look at homes in Saitama.

too far to commute, wife isn't a big fan of the area, i guess we've also got our heart set on being near/in Shimokitazawa. :D

Saitama's a really nice place to live, I think. Much nicer than hectic Tokyo.

Also, I do want to peek through your window.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Oblivion on February 03, 2008, 11:09:41 PM: As Prole said, there may be a recession, but not a depression. Keynesian Economics was developed to prevent such a thing from happening again.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Mupepe on February 03, 2008, 11:40:30 PM: So I noticed that the recession has finally hit taco bell...

raised their prices by 10 cents and now it's their policy to give one hot sauce packet per item

HOW THE FUCK IS IT SUPPOSED TO BE ENJOYABLE THAT WAY??
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Ichirou on February 04, 2008, 12:05:21 AM: They raised their prices? Fuuuckkk, how is Himuro going to make the rent now?!
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Ichirou on February 04, 2008, 01:01:25 AM: I prefer a slightly more sedate style of living, so Saitama's perfect for me. I'm thinking of moving to a smaller town this year.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: xnikki118x on February 04, 2008, 02:18:03 AM: Quote from: Willco on February 03, 2008, 05:27:51 PM
Quote from: Spencer on February 03, 2008, 04:27:01 PM
Aren't there always retail lay offs this time of year? The extra holiday help is let go.

Yeah, holiday hiring is letting go, but several retail companies had such bad or mediocre Quarter 4 that they're "restructuring" and letting go of not just holiday hiring, but veterans and management. I know that we'll be poaching a few management folks from Sears in particular.

My brother works at Sears and quite a few upper management people at his store were terminated last year, and there are rumors of more.

Thankfully, both my parents are in rather recession-proof jobs. My dad's a firefighter and my mom works as the head admissions/billing/whatever secretary/front desk person for a psychiatrist. There will always be fires, and there will always be mental health patients.

They're not rich, but their jobs aren't going anyplace, which is a good thing. :)
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Oblivion on February 04, 2008, 08:04:56 PM: What I AM worried about is the colossal budget cuts the California University/CC system is getting across the board. Terrible fucking timing since this was the year where I would finally transfer. :-\
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Howard Alan Treesong on February 06, 2008, 12:29:13 AM: looks like GameStop is a leading indicator and Willco our next great economist:

http://money.cnn.com/2008/02/05/news/economy/recession/index.htm

"The recession watch can now end -- it's already here."
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Howard Alan Treesong on February 06, 2008, 12:31:30 AM: "Economist Bob Brusca of FAO Economics said he doubted that the U.S. was in recession a week ago, but now he believes there's about a 75% chance that a recession began in January."

Economists should study used game sales to determine when a recession begins?!
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: bagofeyes on February 06, 2008, 12:34:53 AM: Quote from: Ichi on February 04, 2008, 01:01:25 AM
I prefer a slightly more sedate style of living

Me too. I'm going back to Hokkaido come March.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Howard Alan Treesong on February 06, 2008, 12:35:30 AM: Hokkaido was awesome except for the way it's fucking cold all the time
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: bagofeyes on February 06, 2008, 12:37:36 AM: Yeah, I lived there for 2 years in a small town outside of Sapporo. I'm going to be living somewhere within the city this time
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Howard Alan Treesong on February 06, 2008, 12:42:58 AM: if it weren't for the fact there was snow on the ground 9 months out of the year it's definitely where I would want to live in Japan. Hell, I might consider it anyhow just cause, it's great! Also they have "insulation" in their "buildings."
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: AdmiralViscen on February 06, 2008, 12:43:12 AM: I'm so glad to be just starting job hunting.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: The Fake Shemp on February 06, 2008, 01:15:09 AM: SELL YOUR PS3s ITS ALL OVER!

Eh, I think everyone saw a recession coming, but there's been disturbing trends in the retail sector of our economy since January. Few retailers, even big box, saw any growth during the holidays and in general, folks are spending less. Considering how much of our economy is service-based, I feel it's a pretty indicator of grim things to come. I don't think the bottom will completely fall out and hopefully a newly elected President will find a way to galvanize our struggling economy. That takes a lot of faith in our new leader and Congress, something I think most Americans are completely lacking (myself included) nowadays.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Howard Alan Treesong on February 06, 2008, 01:22:19 AM: (http://www.qwantz.com/comics/comic2-1188.png)
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: The Fake Shemp on February 06, 2008, 01:24:04 AM: That's what I felt like when I worked at Target when I was 17-years-old.
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Eric P on February 06, 2008, 08:20:10 AM: that's how i feel today at my job
however i'm going to talk to my boss to see if there isn't something....more i could be doing for our organization

something which isn't entry level monkey rote work bullshit
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Tauntaun on February 06, 2008, 12:30:45 PM: I'm not worried about it. My wife works in a NYC public school and I am currently working for my dad (he's a structural engineer) and this fall I'm going to Five Towns College for music recording so I'll have a sugar momma. :-*
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Mupepe on February 06, 2008, 12:32:30 PM: I'm in a good place in my company and my company is in a good place. If anything was to happen, I'd just find another way to make it. I always do
Title: Re: The economy really is going to the shitter - anyone scared?
Post by: Tauntaun on February 06, 2008, 12:40:32 PM: Quote from: Mupepe on February 06, 2008, 12:32:30 PM
I'm in a good place in my company and my company is in a good place. If anything was to happen, I'd just ~~whore myself to rich white ladies/TVC~~ find another way to make it. I always do

Fixed for added sexy/homo. :-*