"Stagflation"

ElfDude · Post by **ElfDude** » Tue Jul 22, 2008 7:15 pm

Just a reminder for those of us who were born in the 60's. The economy feels bad now. But we've lived through much worse.

zepboy · Post by **zepboy** » Tue Jul 22, 2008 7:20 pm

Ya know, in all my days (born 1963) I must admit that I have had worse times than now. Why, when t and I first got together back in '87, I was only earning around $8700.00 per year. Yup, things were tight, but we made it. I don't care what the media says in order to whip up the hysteria that sells papers, we here in the U.S. got it VERY GOOD!

Big Blue Owl · Post by **Big Blue Owl** » Wed Jul 23, 2008 6:39 am

It helps to come from nothing. I grew out of a pile, but did what I could to educate and elevate myself. Also, learning from parent's mistakes is gold.

So now I'm doing ok, but just down the street there are a few foreclosed homes of people that I know to be of good, honest, hardworking stock. I think that perhaps they would have a different opinion on this subject. I wish I could buy their homes and sell them back to them. That's the bleeding heart part of me. The capitalist in me wants to buy and rent them out to make a profit.

I'm wondering if this is the calm before the storm, the eye of the hurricane or the aftermath, in which we rise back up as in the end of a perilous roller coaster, relieved, but glad to have gone through it. I guess we'll know soon enough.

CygnusX1 · Post by **CygnusX1** » Wed Jul 23, 2008 7:16 am

My hat's off to ya Owlie. I have much respect for what you've done.

Yeah I remember the even/odd license plate days to get gas....

things have been tougher.

ElfDude · Post by **ElfDude** » Wed Jul 23, 2008 7:18 am

Big Blue Owl wrote:I'm wondering if this is the calm before the storm, the eye of the hurricane or the aftermath, in which we rise back up as in the end of a perilous roller coaster, relieved, but glad to have gone through it. I guess we'll know soon enough.

I hear you. And I'll make no predictions as to what comes next.

My bass player is really hurting at the moment. He's a realtor... owns his own little realty outfit. He hasn't sold a house in 6 months. I know these things are cyclical but I sure feel bad for him.

ElfDude · Post by **ElfDude** » Thu Jul 31, 2008 10:30 am

From the AP today:

The Commerce Department reported Thursday that gross domestic product, or GDP, increased at an annual rate of 1.9 percent in the April-to-June period. That marked an improvement over the feeble 0.9 percent growth logged in the first quarter of this year and the outright contraction in the economy during the final quarter of last year.

1.9 percent is slow growth, but it is still growth. This is good news. And I like good news.

awip2062 · Post by **awip2062** » Thu Jul 31, 2008 2:05 pm

Good news is good.

And growth is growth. Now we just need to keep at it!