Have you noticed the economy getting stronger?

@2004cqui (2823)
United States
March 28, 2012 8:27am CST
Skipping by the indicators that prove one way or the other, I base my opinion on what I've actually witnessed. After 9 years in mortgage and investment banking my career went the way of the declining economy. 3 years after my last full time job I have finally gotten many more calls for my experience in finance. Higher pay, better hours, more flexibility, etc. I still don't trust it so I told them I'd work under a contract, not a hired employee. I noticed the decline when fixed rate loans became less popular than ARM loans. Now I am going to be working with titles for homes about to go into foreclosure! I don't believe this is a sign of a strengthening economy, rather a clean up after Fanny Mae and Freddy Mac were offering too many arm loans simply because they could! Thus my decision not to be employed by the financial industry, but merely taking advantage of the surge of garbage created by it! All first tier products, gas, grocery, medical are reaching new heights for price increases, making the lower middle class poor and increasing the need for free services like food shelves, and making the wealthy less wealthy. When I was in investment banking I witnessed the wealthy loose some, most and in some cases all of their wealth. Before Obama became president Wall Street crumbled. So I believe the mess we are in is all of our faults. It had nothing to do with politics. It had to do with the greed that is the affliction of all mankind! So what's your take on the rummer that the economy is turning around?
4 responses
@debrakcarey (19924)
• United States
29 Mar 12
After 9/11 the fed kept interests rates low, what did that, if anything, have to do with the crash of 2008?
@2004cqui (2823)
• United States
29 Mar 12
Sorry, I just read my entire post with comments. I don't see where that correlation made anywhere?
@debrakcarey (19924)
• United States
30 Mar 12
Oh, I'm just interjecting a thought into the discussion. I've read some stuff on this, and not being well versed on economics and banking, I saw you were and thought maybe I'd pick your brain.
@debrakcarey (19924)
• United States
30 Mar 12
I guess the connection, in my mind, was the housing market. Did the fed cause the collapse of the housing market by keeping interests rates so low?
@jillhill (37384)
• United States
28 Mar 12
I really have been pretty sheltered here in my little farming town as we didn't suffer as greatly as other areas....I do hate the high prices that are visible now....just filled up this afternoon and I am glad I don't let it get empty or I would have had a cardiac arrest when the final total was on the pump....I do believe alot of it has to do with our state of mind...when I first got married we had a starter house..worked our way up to the house we wanted. We had to also work our way up to newer furniture etc. Now the kids that are just coming up want a new house with all new furniture....a boat motor and trailer in the driveway with a couple of new SUV's in the garage....what happened to working your way up to something better? Most of their purchases are on time or credit...and that has been where we failed.....we are now falling backwards where this might ammend itself...hopefully.
@2004cqui (2823)
• United States
28 Mar 12
I'm glad you're in a small farming town! Both my parents came from farming. They remembered the depression and they remembered the war. They worked harder than we did or the next generation does to get what they had. They and to fight two world wars to make life better for the coming generations. They built it and look at what we've done to it! It's been taken for granted once again. They didn't pay for the television air waves to enter their homes. They paid next to nothing for one phone line that had to be shared with neighbors. Air conditioning was a fan and some ice. My autistic son complains no one can live on SSDI. Yet he can't do without Comcast or Verizon. Our children are spoiled. My dad's first car had no back seat. He put a kitchen chair back there for a third passenger. When my parents bought their one and only house they had a cooler and a hot plate. The kitchen table was a peach crate and to milk delivery boxes. Milk delivery because the ladies were home all day, watching their children and the families only had one car. Dads needed that car to get to work.
• United States
28 Mar 12
I think the "mess we're in" is everyone's fault - politics as well as the private sector. We all have played a part in making it such a huge mess. However, as bad as things have become - they are not as bad as politicians want us to think. People are still buying huge travel homes, spending weekends pumping gas into all sorts of leisure vehicles like four wheelers and boats -- most are still taking huge vacations. Not too many have actually slowed down. I do know that some are hurting more than others...but overall I do not buy into the whole we're going down the tubes thing. Glad you can play cleanup!
@2004cqui (2823)
• United States
28 Mar 12
I don't think so either! I noticed there is someone trying to sell his program to "make money by taking advantage of the forthcoming crash"! I had to laugh. But this shake up has made me leery of any true stability going forward. My reaction to all this? Have a plan "A" and a plan "B". Plan "A" is to be employed doing something I love. Plan "B" is to earn other income as well as build my business so I am not completely without income in the event of a shaky market. I have witnessed people loosing some if not all their money in the market. The wealthy are less wealthy. I've seen people loose all or part of their retirement package because it depended on the market remaining somewhat stable. Because we have recently bought property in a tourist/retirement area we've seen 10% of the properties abandoned or sold. On the other hand we see a lot more local population taking a vacation in the area. Less and less people from out of state are there for vacation, fishing, hunting, or off road traveling. It seems all business' are making less money up there, cutting hours of business or just closed up. Even the hardware store that was always open year round closed last year in October, not to open again until May of this year, tourist season. There are also so many foreclosing loans coming through title company's have a shortage of help. On my block alone there are 4 out of 10 houses where someone is out of work. People are hanging on to their cars and doing "back yard" auto maintenance. Desperate for buying customers, business' are charging far less for clothing and jewelry.
• Philippines
28 Mar 12
I am extremely happy for the good happened in your career in finance. In the history of our world economy, it has its times of ups and the times when its down, really down. Understanding how it works will help us minimize financial losses. I understand that the economy in general is in an upward swing these days. There are areas where it is down but there are points when it's surging. Therefore, I believe that there are opportunities for the economic opportunist whether they economy is going up or may turn downward. Good day.