Has global recession nowadays really affected you or people you know?
July 7, 2009 8:16pm CST
For a couple of years or so, we had been hearing about how bad the world's economy is. Although, I haven't really seen many people being affected from it - restaurants and theme parks are reasonably filled up as usual, and people storming into shops during Xmas and end of financial year sale. The things even turned out better from low fuel price, low interest rates, stimulus packages, and so on. Over last 2 years, 2 of my friends from construction sector in Australia have lost their job, 1 friend in Japan working in tourism had been cut back on hours, and that's about all I've heard... out of hundereds of friends and relatives I have that is. Most others were stable, even got pay rises. What are the situations around you?
8 Jul 09
Yeah, the same here. Some of the people who had lost their job seem to be blaming on the global economic crisis even though it was more to do with themselves... Off course, I believe there were people truely being affected by it, but I don't seem to run into those people.
• United States
8 Jul 09
We hadn't seen much evidence of a poor economy until about the last year. Our housing bubble was one of the last to burst, and I think things in my area are better than some areas. However, I know a lot of people who are cutting their employees' pay by a significant amount just so that they don't have to lay off lots of people. Personally, we are hanging in there and still have a little wiggle room, but things are a lot tighter than they used to be. I'm all about the good deals now. Cutting coupons with grocery shopping, packing a lunch instead of going out, etc. And oh, the buyers remorse! I don't buy much for myself at all these days, just for the kids. It's terrible, but pride keeps me from admitting just how freaked out I am to people I know. Especially when they are talking about their second houses or extravagant things like that. (Okay, that's only 1 person, not many people in my area). I'm hopeful that things will turn around for everyone, and that the government won't let things get so out of hand again. Here's hoping!
8 Jul 09
Thanks for so many examples! Hmmm... recession is really happening I believe... Maybe just the area of Australia I live in managed to avoid being hard hit perhaps? Either way, getting use to saving is not a bad thing, and now is a very good chance for many people to do so. Although, I really like the way you still buy for your kids ;) That's really cool of you. I hope you all the best.