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we're in a depression, coasting to full economic stop; here's my anecdotal evidence.

 
Anonymous Coward
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01/29/2015 12:55 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
We went for a home mortgage just before 2008. I was shocked at the amount of work the bank did looking into us, like from day 1, visiting us, talking to us. Our excellent credit score didn't seem to matter. What did seem to matter was our character.

We got the mortgage and then 2008 happened and it's been a struggle ever since.
Anonymous Coward
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Mexico
01/29/2015 01:05 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
pine it my neegas! I love hearing "man on the street " economic reports. Hows things in midwest? Has the shale collapse started to bite in North Dakota? Think about all the thousands of people Sean Hannity convinced to head to South Dakota- that collapse will be friggin EPIC....
 Quoting: Anonymous Coward 65473430


Texas is fucked too !!!
Anonymous Coward
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01/29/2015 01:20 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
I grew up in Susanville, ca.
I'm also in construction business, General Contractor, I used to build custom houses, not tract houses $400,000-$700'000, I also have not built a house since then, it is all commercial and govt. Work for us now, McDonalds, other restaurants, finishing our first cell - tower eqpt. Building, but no residential this year at all...
Anonymous Coward
User ID: 476132
United States
01/29/2015 01:23 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
the answer is

DO NOT COMPLY WITH ANY AUSTERITY MEASURES
\

THEY CAN DO NOTHING IF EVERYONE RESISTS
Anonymous Coward
User ID: 64463635
United States
01/29/2015 01:24 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
It appears to me that restaurant sales are falling, or stagnating, and many franchises are remodeling old buildings to stimulate business, my bud just got 10 in a row large NW chain.
Anonymous Coward
User ID: 55843884
United States
01/29/2015 01:33 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
2015 is gonna make 2009 look good...i can see it now. in 2006 i was setting up an office trailer for the large builder i worked for (outta business now) we built about 150 high track homes a year in the bay area. )anyway when the pacbell guy came in to setup phones, we started talking about real estate and he tells me "yeah i've got 6 houses im flipping" i knew right then shit was gonna tank. fast forward to today- electrician foreman on my commercial remodel job- he's on the phone all the time (when he posta be workin) turns out he got his real estate license and he's trying flip homes... oh im calling t right here ! CARSH IS IMMINENT BITCHES!!!
Anonymous Coward
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01/29/2015 01:40 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
oh btw im sittingin a diner in Sacramento ca right now thats almost deserted, waitress says business fell off a cliff 2 months ago- restaurants are gonna dropping like flies....
Anonymous Coward
User ID: 16806928
United States
01/29/2015 01:44 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Once a road is at capacity a 5% increase in the number of vehicles will cause traffic flow to decrease by 30%.

Ask yourself how that applies to the situation you described OP?

Smart people will understand exactly what I'm saying.

Sheep will always sheep so I don't worry about them.
Anonymous Coward
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United States
01/29/2015 01:45 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Some of my coworkers have family members in the oil fields and they have either been laid off or had pay cuts. Between dropping oil prices and the unaffordable care act kicking in full steam, 2015 is going to be a hell of a year.
Anonymous Coward
User ID: 55843884
United States
01/29/2015 01:51 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
whut? when doom?
Anonymous Coward
User ID: 56702137
Sweden
01/29/2015 01:59 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
you all fail to see the new inustrial revolution on the horizon tha twill empower everyone and make most corporations obsolete and bankrupt:

Computer aided manufacturing, and AI robtic labor soon we'll all be "printing" everything we need....

no or very low barriers to entry...
no huge logistics import export costs..
low cost VTOL aircraft <------ GAME CHANGER


one problem though, "they" think theres too many of us to manage....

filter your water and food...
 Quoting: Anonymous Coward 67495718


It's a catch 22. Yes, times will be good in a sense, but then again, when corporations are obsolete, your paycheck is gone.

Even if a robot cost 1 buck, that is more than you have if you have nothing.
Anonymous Coward
User ID: 27229787
United States
01/29/2015 02:42 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Absolutely we're in a depression

and the only ones who don't/won't acknowledge it

are the brainwashed leftists I'm surrounded with --

a few elitist lawyers I know

a whole bunch of schoolteachers...


Meanwhile in the real world, my business has nosetailed 70% since the Anointed One assumed Dictatorship

and it's the same story with other people in my line of work that I talk to

and all of the working-class business I serve

I know several businesses where the owner has moved out of his apartment and is living in his store!!

But dream on, you lefty morons. Your utopia is here...
Anonymous Coward
User ID: 16090331
United States
01/29/2015 02:48 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Well, the earnings are coming in on wallstreet and retailers did not have a good quarter.

I'm wondering if I was the only one who gave Christmas presents this year and even I cut back and I love Christmas time.
Anonymous Coward
User ID: 67499825
United Arab Emirates
01/29/2015 03:14 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Great post OP!

The only thing I disagree with is the major austerity...It'll be far worse than that.

All the derivitive slicing & dicing they did with residential mortgages...they also did with commercial mortgages.

As far as putting this fire out with another 16 trillion dollar fire hose, we are all out of ammo.

This will be a collapse!

Suffering, starvation, rioting and death!
Anonymous Coward
User ID: 59786722
United States
01/29/2015 03:22 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
woot i cant believe they finally pinned this!
Renegade ()

User ID: 62803200
United States
01/29/2015 03:30 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
I could have written this post!

I'm in construction and banks are so tight that now we need performance bonds, payment bonds, builder's risk insurance, $400 for each inspection before a draw, additionally insured liability policies, 10 percent retainage, releases from each sub contractor prior to payment, and probably other things I can't think of right now.

There are jobs out there but the profit margin is 8 percent which is 4 percent overhead and 4 percent profit. Doesn't take much to screw up that kind of profit margin.
 Quoting: Anonymous Coward 65445293


I don't know what 90% of that stuff is.
Who is John Galt?
Patient_Grasshopper

User ID: 66159721
United States
01/29/2015 03:52 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
lol at the raciss AC who quotes RUN DMC songs!!
but yeah yer preaching to the choir here we know tshtf is coming wee wont be able to glp "affect" it thiz time
 Quoting: Anonymous Coward 45202731


:racist5:doomalert5

How much time we have?
 Quoting: Anonymous Coward 65473430


by october 2015, we'll see de facto marshalllaw (inshallah!) and widespread realization that the colkapse is real abd government claims of "recovery" are bullshit... Then WAR!!
 Quoting: Anonymous Coward 48765702


Civil war, or war with another country/countries?
Anonymous Coward
User ID: 8669541
United States
01/29/2015 04:05 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Today, thanks to a growing economy, the recovery is touching more and more lives. Wages are finally starting to rise again. We know that more small business owners plan to raise their employees’ pay than at any time since 2007. But here’s the thing: Those of us here tonight, we need to set our sights higher than just making sure government doesn’t screw things up; that government doesn’t halt the progress we’re making. We need to do more than just do no harm. Tonight, together, let’s do more to restore the link between hard work and growing opportunity for every American. (Applause.)

[link to www.whitehouse.gov]
Anonymous Coward
User ID: 8669541
United States
01/29/2015 04:08 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Today, thanks to a growing economy, the recovery is touching more and more lives. Wages are finally starting to rise again. We know that more small business owners plan to raise their employees’ pay than at any time since 2007. But here’s the thing: Those of us here tonight, we need to set our sights higher than just making sure government doesn’t screw things up; that government doesn’t halt the progress we’re making. We need to do more than just do no harm. Tonight, together, let’s do more to restore the link between hard work and growing opportunity for every American. (Applause.)

[link to www.whitehouse.gov]
 Quoting: Anonymous Coward 8669541


I was rolling my eyes as I pasted that ^^^ Fuck libs.
Anonymous Coward
User ID: 67502454
United States
01/29/2015 04:42 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Today, thanks to a growing economy, the recovery is touching more and more lives. Wages are finally starting to rise again. We know that more small business owners plan to raise their employees’ pay than at any time since 2007. But here’s the thing: Those of us here tonight, we need to set our sights higher than just making sure government doesn’t screw things up; that government doesn’t halt the progress we’re making. We need to do more than just do no harm. Tonight, together, let’s do more to restore the link between hard work and growing opportunity for every American. (Applause.)

[link to www.whitehouse.gov]
 Quoting: Anonymous Coward 8669541


I was rolling my eyes as I pasted that ^^^ Fuck libs.
 Quoting: Anonymous Coward 8669541

wheres the vomiting smilie??
Blessedtobehere

User ID: 60081448
United States
01/29/2015 04:51 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
I guess it depends on which part of the country you live in... I am in a burb of ATL and I am amazed how busy restaurants and businesses are here. Here is an example: yesterday my mother and I went to Olive Garden for soup at 1:30 pm and waited for a table. We left at 3pm and the restaurant was still almost full of people. I realize most people live on credit however at some point that runs out...
Anonymous Coward
User ID: 66608333
United States
01/29/2015 04:57 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
I absolutely blame the corporations, the politicians are their little prison bitches and bitchesbetrippin
Anonymous Coward
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United States
01/29/2015 05:06 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Last month, on the MLK holiday I noticed on my drive in to work that the traffic was incredibly light- at lest 70% less than normal. At first I said to myself, duhhh its a holiday... But here's the thing, the only people that get that holiday are government workers, corporate america has basically given a big EFF YOU to honoring the MLK legacy (rightly so IMO) anyway, heres the realization i came to:

Over 70% of he people working are government workers!! I work in construction, and I have for 20 years, the only thing thats been going OK since the 2009 crash has been COMMERCIAL construction and (I got outta residential in 2010) and now I'm seeing the same warning signs in commercial that foreshadowed the residential crash. The banks are tightening up and their sending inspectors out waaaaaay more than they have been, they're really interested in details now that they never cared for before. In fact they are even interviewing TENANTS in buildings we have renovated asking if they have any complaints or issues and they wanted to actually inspect a certain number of occupied apartments! NEVER have the banksters reps done that before as far as I've noticed.
I think commercial is about to take dive guys, contractors are getting HUNGRY again (Im a project manager) prices are coming down, materials prices still climbing , lumber is dropping a liiitle but concrete is still very high IMO (110/yd in N.California where I operate)

You idiot Obamba/Bush supporters have effectively destroyed this country with your uninformed voting..

America is headed for some serious AUSTERITY and we ain't used to that so keep yer powder dry Gliptards,
____________________________________________________________


Hard times are spreading, just like the flu,
watch out HOME BOY dont them get to you

Pu puh puh prices go up but your pockets go down
when you got short money you stuck on the ground!
Buh buh be ready, keep your eyes on top and
BE ON POINT FOR DA FUTURE SHOCK
(RUN DMC song, cant remember the lrest of the lyrics to their prescient song)
 Quoting: Anonymous Coward 67027931

it wintertime no one wants to drive in this crap...the economy is rebounding. more money being spent...housing is up...2 more years and thing will be very different
Anonymous Coward
User ID: 16090331
United States
01/29/2015 05:09 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Google missed?????

Turned on CNBC and was shocked to hear that.
Anonymous Coward
User ID: 67497032
United States
01/29/2015 05:18 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Keep in mind I am giving of you my personal time to explain this. So please seriously consider my words.

You Error several times in your starting post. First, our current pres. was not elected into office. He was put into office by tptb. No ones vote counts for anything but burning up the fuel to go vote.
Also pres. dingding...does not set policy...yes, the presidential office does, but not the man in the seat. Our pres...follows orders by the people who groomed him since about birth.

The plan is to strip the people of all weapons and financial means. Then destroy you. I am sorry, I did not write the policy...I just understand it.

No austerity as you put it. Just outright civil war from the start. Then Nibiru will pass...and that is it...say bye bye...to your ass.


Last month, on the MLK holiday I noticed on my drive in to work that the traffic was incredibly light- at lest 70% less than normal. At first I said to myself, duhhh its a holiday... But here's the thing, the only people that get that holiday are government workers, corporate america has basically given a big EFF YOU to honoring the MLK legacy (rightly so IMO) anyway, heres the realization i came to:

Over 70% of he people working are government workers!! I work in construction, and I have for 20 years, the only thing thats been going OK since the 2009 crash has been COMMERCIAL construction and (I got outta residential in 2010) and now I'm seeing the same warning signs in commercial that foreshadowed the residential crash. The banks are tightening up and their sending inspectors out waaaaaay more than they have been, they're really interested in details now that they never cared for before. In fact they are even interviewing TENANTS in buildings we have renovated asking if they have any complaints or issues and they wanted to actually inspect a certain number of occupied apartments! NEVER have the banksters reps done that before as far as I've noticed.
I think commercial is about to take dive guys, contractors are getting HUNGRY again (Im a project manager) prices are coming down, materials prices still climbing , lumber is dropping a liiitle but concrete is still very high IMO (110/yd in N.California where I operate)

You idiot Obamba/Bush supporters have effectively destroyed this country with your uninformed voting..

America is headed for some serious AUSTERITY and we ain't used to that so keep yer powder dry Gliptards,
____________________________________________________________


Hard times are spreading, just like the flu,
watch out HOME BOY dont them get to you

Pu puh puh prices go up but your pockets go down
when you got short money you stuck on the ground!
Buh buh be ready, keep your eyes on top and
BE ON POINT FOR DA FUTURE SHOCK
(RUN DMC song, cant remember the lrest of the lyrics to their prescient song)
 Quoting: Anonymous Coward 67027931
Failure To Communicate

User ID: 59299342
United States
01/29/2015 05:19 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
I know McDonald's food sucks immensely but I doubt that is why their sales continue to plummet.


McDonalds is the canary in the coal mine.
CheckM8

User ID: 55995698
United States
01/29/2015 05:21 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
I'm on the other side, demolition. I've managed large and small projects, and in 2008 I started my own business that focused on buying the assets of companies that were closing or moving into new facilities. In that sense, I'm kind of a vulture in that I feast on the carcass of a dead company.

Business was great until the 2nd quarter of 2014 and then everything pretty much dried up. To me, this was a signal that things might take a turn for the worse. I thrive in a really bad economy or a booming economy, and from 2008-2013 things were pretty shitty and there was a steady stream of closings (I am pretty focused on power plants and solar). In 2013 alone we purchased 6 30MW coal fired plants and a large solar cell manufacturer. When the economy is teetering, it seems that companies hunker down and do not make any moves because of the uncertainty.

Now, I'm starting to see more companies moving towards throwing in the towel (good for me), and with the Chinese economy tanking, I don't think we'll go more than 4-6 months before we start to free fall. Also, look at the metal markets, scrap steel on the west coast is down almost $150/GT in the past year and there's no bottom in sight from what I've been hearing from friends with yards in the Bay area. Copper is down almost a $1/lb, and the same is true with Nickel, Lead, and most other metals.
"He who knows most, knows best how little he knows."
Thomas Jefferson

"My religion consists of a humble admiration of the illimitable superior spirit who reveals himself in the slight details we are able to perceive with our frail and feeble mind."
Albert Einstein
Failure To Communicate

User ID: 59299342
United States
01/29/2015 05:29 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
I guess it depends on which part of the country you live in... I am in a burb of ATL and I am amazed how busy restaurants and businesses are here. Here is an example: yesterday my mother and I went to Olive Garden for soup at 1:30 pm and waited for a table. We left at 3pm and the restaurant was still almost full of people. I realize most people live on credit however at some point that runs out...
 Quoting: Blessedtobehere


Credit is easy again. People are maxing out those credit cards. It is like 2008 never happened. It is scary easy to get credit. The banks must have been told something in the past year or so by tptb. Bankers trying to put a band-aid on the recovery that never happened.

Last Edited by WurstCaseScenario on 01/29/2015 05:31 PM
Anonymous Coward
User ID: 64957503
United States
01/29/2015 05:36 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
Asheville, NC. Tourist with money gives many here a false sense everything is great, specially our large libtard population. But we seem to need many more food pantrys and soup kitchens for a large and quickly growing population of desperate people.
Anonymous Coward
User ID: 16090331
United States
01/29/2015 05:41 PM
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Re: we're in a depression, coasting to full economic stop; here's my anecdotal evidence.
I guess it depends on which part of the country you live in... I am in a burb of ATL and I am amazed how busy restaurants and businesses are here. Here is an example: yesterday my mother and I went to Olive Garden for soup at 1:30 pm and waited for a table. We left at 3pm and the restaurant was still almost full of people. I realize most people live on credit however at some point that runs out...
 Quoting: Blessedtobehere


Credit is easy again. People are maxing out those credit cards. It is like 2008 never happened. It is scary easy to get credit. The banks must have been told something in the past year or so by tptb.
 Quoting: Failure To Communicate


Everyone I know with a college or graduate degree has a beast of a student loan and their parents have parent plus loans too. They work to pay off the loans, to pay their rent and a little for entertainment. The salaries are nothing like they were years ago and everyone stays in for lunch, arrives early and leaves late cause they need that job. If you are in your job for a while you've seen people fired and watched your salary go down instead of getting a raise. And, at your annual review you're told how great you are and how lucky you are to have kept your job. No one has gotten raises.

Even the parents are freaking out. They have parent plus loans for their kids education. Some even borrowed to send them to special high schools, and they've been hit with the Alternative minimum tax, something they never ever anticipated. So anything they saved for retirement is being used to pay off loans. This generation saved for education but not weddings. They figured their kids would be so well e;educated that they'd have great jobs and could manage to pay for their own weddings. That didn't happen.

The only people doing really well work for the government and for government contractors. The government workers have been given raise upon raise upon raise and oodles of benefits. It's no wonder that DC is now where all the wealth is congregated.

So the government workers must be the ones getting credit because no one else can get it. People are having lots of trouble qualifying for mortgages and credit cards. You are fortunate if you have qualified for one credit card.





GLP