that and the numbers are jimmyed-7%-8% are people on UI it doesn't include the unemployed that are beyond that-so the "jobless" rate is actually significantly higher-yes, spending would stimulate the economy better than any package-Reganomics
There certainly is some merit in what he wrote. The problem is confidence, and not even the 84% with jobs have it.
That is the problem. From my own unscientific research, I would hazard a guess that about 40% of that 84% are worried about losing their jobs and thus have put all unecessary spending on hold. Folks, I think the economy is going to get worse before it gets better. I don't think we will bottom out until late summer at the earliest...
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Hillar
1970 LS4 (eventually an LS5) Laurentian 2dr hdtp -and a bunch of other muscle cars...
I agree. We took a look at our situation and decided to fear not. I think we may have bought the only Pontiac sold in Canada in January 2009. New minivan (Sigh) I'm not sure it'll ever be collectible but it'll probably be rare!
That doesn't even count the constant flow of parts for the 66. (Or for the 70 CST)
most of the secure employed have already over spent in the last few years-and lost plenty on retirement savings-but yes spend it'll work-just the feel in the economy works and will create confidence
My steel company is in a situation like such it has never faced before. 40% of our business is gone. My Profit sharing fund lost money for the first time ever. We're doing everything possible to avoid layoffs. So far so good for 5000 workers. The problem is though, that we all feel like we just don't know whats coming next.
On one good note, we all just recieved a very healthy 2008 VCP payment (variable compensation payment). The large amount due in part to the insane prices on hotband last year in the 3rd quarter. For me it worked out to be around $4700 after 41% tax. Next year will be zero.
We plan on blowing all of it locally. But I still am working and my wife has a great job at a hospital. So at least we're still able to add freely to the local economy. If all 5000 workers spent all or even some of it locally, it could make a small difference, just as if every family cross Canada, who still have the means would loosen the pursestrings just a little. It could make a huge impact.
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65 Laurentian post, 67 Grande Parisienne 4 door HT.
I hear ya, my job appears secure for now, but big corporations can make big moves very quickly without any prior warnings. I managed to live through 2 bloodlettings where we let go a lot of people in the fall of 01 and 02, not every one will know or remember the mining and metals business went through a terrible recession from 99-03 as well. We recently had to make some big lay-offs in Sudbury, almost 700 people, it was not pretty.
I don't even open my RRSP statements any more and likely won't till things start to pick up again. Outside my RRSP I've had healthy losses as well, as I'm sure many others have. Then I figure that a new roof and furnace are probably on the agenda this year, probably a new stove and fridge as well, so it becomes a lot harder to justify spending on toys, but if the "gotta have" car came along, I'd try like hell to make it happen.
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Hillar
1970 LS4 (eventually an LS5) Laurentian 2dr hdtp -and a bunch of other muscle cars...
im from sudbury there seems to have been lay off all the time in that town havent been there for a long time but it seems like some things dont change.
the last recesion I worked in a paper recycle mill, 10% of Canadas waste paper, plus all of washington, oregon, and idaho, all their paper came to us. It was cheaper for MBI, our next door neighobr to buy new virgin paper from switzerland than it was for recycled paper right next door. 17 years was the cut off for lay offs. No company is safe from this recession. Even banker on radio says, this time around, will make 97 China recession look like a cake walk. I figure things are going to get a lot worse than better, recessio9n just hasnt cought up to us yet, like it has effected the states. we wont be as bad as them, as Canada has its own fincancial system, but it will still be bad. wages, will go waaaay down. You wont work for 10 buk an hour, no problem, the next guy will.
We are certaily doing our part in spending. $3300 on Visa in Jan. which included plane tickets worth $1000. Paid it off when the bill came in. Late March early April we are going to gut and redo our ensuite bathroom. Materials alone for this job will be in the $10,000 range. Whirlpool bathub, shower stall with seat, double sink vanity, and ceramic tile. The bathroom was last renovated 20 years sgo. I figure if the government is going to give us $1500 back if we spend $10,000 now is the time to do it.
I am on a fixed pension income and my wife has a new job with a company that provides air transportation for critical care patients. She had been doing work on a contract basis in the literacy field since losing her job because of the Harris government cuts a few years ago.
May as well spend and enjoy it now as you never know what can happen in life.
I'm not really sure where I stand as I am the newest service advisor at work (although I'm not the least experienced). No brand is safe and we have been "warned" by the general manager that we "must" beat last years numbers. If we can't, then we will have to cut costs. And what do we do to cut cost? Cut staffing. We were told that anyone who doesn't put in 100%, work as a team, and doesn't meet the selling targets will be gone, no matter how long they have worked there...
There are five of us and I think we could run with four. The problems begin when people are off. There were only two of us last Tuesday. It was crazy. Be both wrote almost 40 repair orders each!
I am trying to spend some money. First I look at the new Challenger. Get the run around from three different dealers. Take the issue into my own hands and find the info about my B5 Blue Classic edition. Still no word. You would think if soemone was coming in to buy two brand new cars loaded with info I would get somewhere?
Try to order a Blue SS Camaro. Still no concrete answers. Does anyone have a blue 65 Beaumont with a V-8 and a stick for sale. Maybe someone on here wants my money?
I am trying to spend some money. First I look at the new Challenger. Get the run around from three different dealers. Take the issue into my own hands and find the info about my B5 Blue Classic edition. Still no word. You would think if soemone was coming in to buy two brand new cars loaded with info I would get somewhere?
Try to order a Blue SS Camaro. Still no concrete answers. Does anyone have a blue 65 Beaumont with a V-8 and a stick for sale. Maybe someone on here wants my money?
Heck I even tried to buy a Blue GTO...!
I have a blue with blue guts 66 strato chief with stick will be ready Friday...lol
That is the problem. If you drop the price too low, you destroy the resale value of used units as well and get even more people pissed off at you. Is Mercedes-Benz suddenly selling cars for $10K? No, inventory is just going to sit around a lot longer until it is sold. Everything has an intrinsic value and I think you have to have a reasonable floor price, certainly above your cost of production, otherwise, what is the point? Giving things away just to get rid of them, well that's what a receivor does in a bankruptcy...
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Hillar
1970 LS4 (eventually an LS5) Laurentian 2dr hdtp -and a bunch of other muscle cars...
