:usacry (US Economy is f@#ked thread)

[Rman]

Buy threads are going to becoming very sparse.

I will not let that happen! Sure, I had a dry spell recently but I had to pay for new glasses!

The game release window is drying up, though.  Finally.

[MrAngryFace]

Yeah, that will lighten my load, its been argh

[Don Flamenco]

Buy threads are going to becoming very sparse.

grift/mug threads will be the new hotness.

[demi]

"what did your homeless shelter serve today?"

[Olivia Wilde Homo]

I'm $80k in the hole with student loans right now.  Fortunately my starting salary, combined with dirty poor quality living, along with a second job, I can have it paid off in a couple of years.

the midwest deserves it. 

HEY!

 

[MrAngryFace]

80k? jesus. I went to a dumpy tech college and my dad taught there so it was half off so only 12k here. I cant imagine 80k

[Olivia Wilde Homo]

Well, how I'm handling it is that since there is a six month grace period, I'll make sure all my other debts are paid off.  I have a signing bonus with my job, that should help out a bit.  Job also has profit sharing, although I'm not pinning my hopes on it.  I'm getting a second job so I'll be working every day, although I'm used to that by now.  With all that factored in, I should get around 70,000 a year.

It will suck for a couple of years, but I should be ok.

[Rman]

That's pretty good for entry level work, TEXP.  What industry are you in?

Edit: I forgot about the second job part.

[Olivia Wilde Homo]

Engineering Distribution

[CajoleJuice]

Buy threads are going to becoming very sparse.

I will not let that happen! Sure, I had a dry spell recently but I had to pay for new glasses!

I'm going to contribute more than I ever did, so maybe that'll help.

[Olivia Wilde Homo]

What the fuck is engineering distribution?

Engineer of Distribution of Natural Gas.  Making sure everything is up to standards, making sure demand is met, meet with the Utilities Board twice a year, etc.  Should be interesting.

[Brehvolution]

We have a gas well on our land. Well, my father in law gave us the land and retained the gas rights. It's been pumping out for 8 years now. I hope he saved up a nice inheritance. 

[Fragamemnon]

One more thing to note is that municipalities and states are going to need funds to cover their budget shortfalls and to encourage the infrastructure projects to keep people working.

In return, though, states need to be forced to rethink they way that they do budgeting-right now, they like to cut taxes and increase services instead of saving during the boom times because that's what makes for popular politics, and then they wind up in huge trouble when things go south. It's a huge problem.

I'd like to also note that this sharp downturn is going to have a harsh effect on governors who might be eyeing Senate or Presidential races. They are going to have to make some unpopular choices at home that will become extremely effective attack ads.

[Mandark]

Yep.

The incentive for governors, who are often looking to move up, is to take advantage of the good times and build a reputation.  All those wunderkind governors in the 90's weren't really a new breed of technocrat.  They were just riding the wave.

Also, a lot of states are constitutionally or provisionally restricted from deficit spending or raising taxes.  The balanced budget rules are the worst, because the time when you need the most government services are the same time when the revenue is dropping.

[Brehvolution]

I'm just afraid that it will be so bad that Obama won't have enough money to do what he said he wanted to do. All to make it look like he was full of it and the repugs would have an advantage the next time around. It's all part of the master palinplan:-\

 

[Fragamemnon]

I'm just afraid that it will be so bad that Obama won't have enough money to do what he said he wanted to do. All to make it look like he was full of it and the repugs would have an advantage the next time around. It's all part of the master palinplan:-\

 

He'll do what he wants to do. Honestly, stuff like health care reform and education is a backdoor stimulus to the middle class anyway, since it is those people that actually have to worry about paying for such things-it's just a small drop in a bucket to the privlidged.

The whole way that states manage their budgets is madness. They commit the most money to projects in boom times when costs are highest, and then cut them the most when costs plummet due to economic slowdown.

[Olivia Wilde Homo]

What do you think might happen with California?

[Mandark]

The whole way that states manage their budgets is madness. They commit the most money to projects in boom times when costs are highest, and then cut them the most when costs plummet due to economic slowdown.

Plus the cuts are basically anti-stimulus.

That's why sending federal money to the states strikes me as a good idea.  Then again, it creates the same moral hazard problem that everyone's always bringing up with the bailouts.

States need to either be willing to run deficits during recessions or take their rainy day funds seriously.