Holy $#@%! what happened to the economy?

[Dusty]

I got laid off last Thanksgiving....but honestly, I don't blame the economy for that. It wasn't a mass-layoff like some game developers. I mostly just blame "End of project...some gotta go". It's typical in my industry so I didn't think about it too much.

I picked up a job pretty quick (within a week, actually) and felt unbelievably fortunate for that. Now I'm working on casual Wii games and our games are selling by the truckload so overall I have nothing to worry about for the moment.

Also, last year I paid off almost all of my debts so I am positioned pretty well for the economic climate....well, once I get a little more savings that is.

-D

[wiggum]

Yeah, i find it interesting how automotive executives are dragged before congress, however, AIG execs are free from scrutiny. My personal opinion, the UAW should form alliances with the Teamsters and the Longshoremen and shut the whole motherfuckin system down. And tell Congress and the President, "here is the end game!"
peace

I think that congress sees the auto industry as an easy target to take cheap shots at in the interest of gaining name recognition amongst their drooling moron constitutes . They think they understand how GM works and therefore think their opinions of how it should be run are more valid than the "greedy" CEOs who are getting paid $1 annually (I know this doesn't count stock options and such but still). They have no idea how the economy actually works and therefore can't make the same claims in front of the financial institutions.

As far as the unions go, I'm no fan of them. It is true that the UAW basically created the middle class, but they are still overpaid ($30/hour plus benfits, plus retirement after 30 years...for putting a bolt onto the side of a car? COME ON!!). But I have huge problem with this wage parity bullshit that Corker asshole has been talking about. Since when do we let foreigners set up shop and tell us how much to pay our workers?

Yet another rant brought to you by Wendigo...

[RyerOrdStar]

Isn't it also the fact that the automobile industry wanted to make a bigger profit than they could on small cars so they cranked all their resources into making SUVs, but now people don't want SUVs and it's getting way too expensive to manufacture them and it's really expensive to retrofit the factories to begin making small cars again?

No one is free from blame here, it's all just greed.

[Bill]

they are still overpaid ($30/hour plus benfits, plus retirement after 30 years...for putting a bolt onto the side of a car? COME ON!!). ..

Actually there's more likely to be 4-8 bolts, sometimes 2 feet off the ground, which need to be put on to a moving car frame whose edges are razor sharp... do that every 44 seconds stooping or reaching for 9 hours a night in a hot stank work environment covered in kevlar and plastic gear while maintaining quality and safety standards for 30 years and I doubt that you'll feel overpaid for having a pension.

[wiggum]

Actually there's more likely to be 4-8 bolts, sometimes 2 feet off the ground, which need to be put on to a moving car frame whose edges are razor sharp... do that every 44 seconds stooping or reaching for 9 hours a night in a hot stank work environment covered in kevlar and plastic gear while maintaining quality and safety standards for 30 years and I doubt that you'll feel overpaid for having a pension.

Fair enough, but the fact remains that people down south in the "transplant" factories and those in other countries do the exect same thing for considerably less. And frankly that isn't the only issue with the UAW.

The worst part about it is the culture it brings, it makes it very difficult for companies to be innovative because they have to go through the union to make changes in their factories. If you invent a machine that will render some assembly line jobs osolete then you have to the union and ask them if you can use it.

A good example of this is with this factory here:
http://apps.detnews.com/apps/multime...ex.php?id=1189

The UAW and other unions makes it nearly impossible to do that kind of business in the US. Frankly the time of the UAW has passed and we just don't need them anymore.

[smugbug]

Interactive map:

NYT: The Geography of a Recession.

Read yesterday how this may turn into a "mild depression" but one thing that for sure is happening is a realignment of our (the US') GDP. The growth of the last few years was basically, fake. What is happening now, is that the economy is going to where it SHOULD be.

[Xeom]

Big ups to my homeboys Ronald Reagan ,deregulation, and Laissez Fair economics for making this all possible.

Things are going to get much worse then they are now. Its probably going to be worse than the great depression and will probably remove the economic power center from the west. Everything you hear on the news is more or less bullshit, everything is going to hell and this is only the tip of the iceberg. Soon(2010-12) the news is going to start to tell you about Alt-A's and how the financial system is more fucked then anyone thought.

People blaming the unions have no idea what they are talking about. The main reason we are in this situation is because around the 1970s we decided to decouple wages from productivity. Productivity has gone up, but for the most part wages have gone down or stayed exactly the same. Removing purchasing power from the working class. Which means now they have to borrow in order to keep this consumer culture which they don't know how to drop going.It also strengthened the financial systems and saturated all the wealth to the top 1%. The pinnacle of this all came when the glass steagall act was finally removed in 1999,it let banks get away with the kind of lending that led to all of this.

Also the fact that we have shipped these jobs oversea for cheaper labor is another huge problem. We have turned our society into a service centered society. And while services are important in any economy, any economy based on them is proned to fail sooner or later.Especially in a top heavy economy such as the one that we have now.

One last thing,the unemployment rate the news is feeding you is complete and utter bullshit.The method they use to use to measure unemployment these days is a joke. Last time I checked the "official" rate it was 8%. In fact if we use the same measurements as we did in the 1930s, we are already at 16-18% unemployment.Nearly half way to the great depression and the party's just getting started.

The good news about the coming depression is that some great art is going to be made, and America will learn the same lesson it learned 80 years ago(hopefully).

[wiggum]

People blaming the unions have no idea what they are talking about. The main reason we are in this situation is because around the 1970s we decided to decouple wages from productivity.

To be fair I wasn't trying to say unions are responsible for the current economic crisis. But the UAW does make it extremely difficult for the big three and their suppliers to compete with their non-unionized foriegn competition.

One last thing,the unemployment rate the news is feeding you is complete and utter bullshit.The method they use to use to measure unemployment these days is a joke. Last time I checked the "official" rate it was 8%. In fact if we use the same measurements as we did in the 1930s, we are already at 16-18% unemployment.Nearly half way to the great depression and the party's just getting started.

What's different about the way they measured stuff back in the 1930s and how they measure it today? Do they count people collecting severance packages as employed today and not back then or something like that? Not trying to argue with you but that doesn't really make a whole lot of sense to me.

The good news about the coming depression is that some great art is going to be made, and America will learn the same lesson it learned 80 years ago(hopefully).

Agreed, I think we will also see a lot of deglobilization going on over then next decade or so, especially in the Auto Industry.

[chriskot]

What's different about the way they measured stuff back in the 1930s and how they measure it today? Do they count people collecting severance packages as employed today and not back then or something like that? Not trying to argue with you but that doesn't really make a whole lot of sense to me.

I have no idea how they measured it in the 30's, but we just finished learning about it in my economics class and apparently the unemployment rate is calculated as the percentage of all able-bodied individuals over the age of 15 who are actively seeking, but have not found a job (excluding retirees). Not sure if that helps or not.

[TASmith]

Last time I went to the states I rented a car and got stuck with a Pontiac. Honestly, it was such a poorly conceived vehicle, no wonder Toyota outsells it.

There was no rearview visability, the front hood was at such an odd angle/shape it was impossible to know if I would hit something while parking. All the controls were wonky - for one thing, a steering-wheel mounted gear shift does not fit in a compact car. It's not nearly as comfortable or fast as one between the seats.

If the US could get its act together in terms of actual design, they could sell more.

[Xeom]

Basicly they do not take into account disenfranchised workers. Got layed off and didn't file for unemployment? Not unemployed. Stopped looking for a job through services, congratulations not unemployed either. Theres a ton of little stuff like that that basicly cuts it in half.

I just hope the get the social programs required up and running by the time we hit 30% unemployment.

Edit:also yes we need unions we are the only 1st world country with such a low union rate. The ones with the highest usually have a higher standards of living as well. Unions are always needed, people deserve good wages.

[TASmith]

what we really need is for all those third-world nations to develop strong unions as well. Then wages will rise everywhere, become more equal, and there will be less reason to outsource jobs. The question is if this can ever happen, especially when some of those countries don't give freedoms - how then, can a union ever form?

[Xeom]

what we really need is for all those third-world nations to develop strong unions as well. Then wages will rise everywhere, become more equal, and there will be less reason to outsource jobs. The question is if this can ever happen, especially when some of those countries don't give freedoms - how then, can a union ever form?

Edit:wow not going to post late at night any more :V

Basicly workers are constantly harassed in the 3rd world. And extreme use of violence against them by hired thugs totally goes by unnoticed by the 1st world.

People need their cheap ipods you see.

[TASmith]

I know, America's history with unions and companies is identical. I just hope they can one day make a difference.

[wiggum]

Last time I went to the states I rented a car and got stuck with a Pontiac. Honestly, it was such a poorly conceived vehicle, no wonder Toyota outsells it.

There was no rearview visability, the front hood was at such an odd angle/shape it was impossible to know if I would hit something while parking. All the controls were wonky - for one thing, a steering-wheel mounted gear shift does not fit in a compact car. It's not nearly as comfortable or fast as one between the seats.

If the US could get its act together in terms of actual design, they could sell more.

What the hell Pontiac where you driving? Admittedly the only one I ever drove was my buddy's GTO (the newer one from like '05) and there were not any issues with it at all. Actually that car was friggin' awesome, I just wish it didn't look exactly like a Grand Prix.

Also, I can appreciate someone getting turned off by brand after a bad experience (I'll probably never buy another Gateway laptop ever again), but I can assure you that the GM and Ford have both made enormous strides in quality. The new Ford Fusion and Fusion Hybrid have initial quality ratings that either tie or beat the Camry and Accord. They also have unsurpased fuel economy, the Fusion Hybrid's fuel economy is like 7 MPG better than the Camry's (and its considerable sexier).

Unfortunatly, Chrystler is probably a lost cause at this point. When Diamler bought it back in I think '99 it brought most of the Product Development back over to Germany, when it sold Chrystler to Cerberus it basically sold a company that really wasn't capable of developing its own products, and with a few notable exceptions like the 300, Dodge Ram, the minivans and Jeep, it really shows. I hope Chrystler makes it, I was at the Detroit Auto show and got a close up look at the 200c electric concept...man i hope they make that thing...If they don't make it electric they should just rename it the 200 and have it replace the Sebring.

[Camara]

I have been fired from my job recently..........................

[alti]

its been preety bad in Australia for the games industry, layoffs at every company, crime is on the rise, 4 houses on my street got broken into in the past month.

3 people from work had their houses looted while they were at work. I'm planting potatos and constructing a small tube greenhouse in my large backyard to grow my own veges, its easy to do manage, my aunt has a large organic farm on the outskirts of town that i sometimes spent time on., remember to line the inside of the greenhouse with black plastic then lay your own dirt.

i live in a large share house with 5 people, 3 of wich have partners, so my rent is cheap, its easier with a group of people that get along.

-alti

[petitemistress]

we weren't hit here. Our investment banks (lol...) have their balls in a tight grip because of our minister of finances, so we're doing ok so far.
My thoughts go out to those who were hit tho. move here?

[Blahm]

i agree with whats already been said here, the party is just getting started. Hope you got your little paper hats n stuff.

The dumbest thing America did by far is ship our employment overseas. Its pure stupidity.

[Arshes Nei]

There are news reports now that the FDIC is running out of money.
http://seattlepi.nwsource.com/busine...dicfees28.html

I guess it's time to invest in Bank of Mattress

[Cthogua]

Whats frustrating to me is the news coverage. I really can't even watching network news anymore, it's so obviously manipulative, misdirecting, simplistic and sometimes just horribly thought out. I can't stand watching someone on TV make an argument using such obviously flawed logic that even I can pick it apart and see how it's just simply not how, or what they're saying. An absence of critical analysis skills is pretty much expected of the audience though, so it shouldn't be too much of a surprise.

Part of me hopes that a some what prolonged, major contraction of the economy will cause a realignment of the collective psyche of Americans in terms of we value, however looking back through history, empires never fall gracefully. Also.... Maybe the Mayans were right, a great shift of some sort does seem to be right on the cusp, and in a more significant way than the regular ole, the world is always about to end kind of speculation. Everyday seems to be met with a fresh wave of unprecedented things happening. The Novelty Wave is spiking. The end of their calander doesn't mean the end of the world, it just means a great shift to a new era, the era at the start of another 26,000 year cycle.

...and for anyone preparing a serious rebuttal to my random eschatological musings. I'm not trying to make any real claim as the the validity of these various concepts, just reflecting on the parallels between them and current, tumultuous world events.

[ArtZealot]

The dumbest thing America did by far is ship our employment overseas. Its pure stupidity.

I couldn't agree more. I mean i understand why they did it, to save money, but that definitely is something that has really hurt our economy.

[ArtZealot]

Whats frustrating to me is the news coverage. I really can't even watching network news anymore, it's so obviously manipulative, misdirecting, simplistic and sometimes just horribly thought out. I can't stand watching someone on TV make an argument using such obviously flawed logic that even I can pick it apart and see how it's just simply not how, or what they're saying. An absence of critical analysis skills is pretty much expected of the audience though, so it shouldn't be too much of a surprise.

Part of me hopes that a some what prolonged, major contraction of the economy will cause a realignment of the collective psyche of Americans in terms of we value, however looking back through history, empires never fall gracefully. Also.... Maybe the Mayans were right, a great shift of some sort does seem to be right on the cusp, and in a more significant way than the regular ole, the world is always about to end kind of speculation. Everyday seems to be met with a fresh wave of unprecedented things happening. The Novelty Wave is spiking. The end of their calander doesn't mean the end of the world, it just means a great shift to a new era, the era at the start of another 26,000 year cycle.

...and for anyone preparing a serious rebuttal to my random eschatological musings. I'm not trying to make any real claim as the the validity of these various concepts, just reflecting on the parallels between them and current, tumultuous world events.

Im not making a rebuttal, just agreeing with the part about the news. I've sat and watched the news and noticed the same thing about how 90% of it is bullshit that doesn't matter (obamas grey hairs?)

I imagine a bunch of people sitting around a table, brainstorming how to get more people to watch the news, one says "most of the kids nowadays watch reality TV, lets make the news more like reality TV" and that's how we've ended up in news that centers around talking points and gotcha journalism. He said - she said bullcrap.

I feel like the news channel i usually watch says a lot about the kind of person i am, when it shouldn't. Now, news is like picking sides. If you watch MSNBC, you are liberal, if you watch FOX you are conservative, if you watch CSPAN you have a superhuman attention span and don't get bored.

So in conclusion, i agree. News has changed but not for the better. I just wish i wasn't picking a side every time i turn the channel.

[Arshes Nei]

What if you listen to radio/internet for news instead? I don't watch TV news for the most part.

[Black Spot]

I read a broadsheet and don’t bother with the tv. Banks are talking themselves out of responsible lending and it is killing businesses and making things worse. Killing decent businesses is sure the way to go when they’ve been found wanting. Yet, I have my bank phoning me (twice) to ask what I want to do with a few spare grand and could they help?! Bugger off and get your priorities right was my thought.

[J Wilson]

Anyone see the movie "A Beautiful Mind"? It's a movie about John Forbes Nash, a mathematician and economist who had schizophrenia (played by Russel Crowe in the movie). Anyways, there's a great scene in the movie where Nash forms his theory that the best possible outcome in a situation is NOT formed by everyone trying to get everything they want. I think part of our economy's problem is that in a strict capitalist society, where every bank and corporation's goal is to make as much money as they can, they eventually create self defeating problems that they are powerless to stop.

Example, company A sends jobs over seas to save money. Good for company A. Every company sends jobs over seas, then your consumers can no longer afford anyone's products. Bad for everyone. Now company A, even if they realize the problem can't stop the practice, because they have no control over anyone else. If they pull their jobs back, they lose money, and they don't solve the problem. So the problem can only get worse as no company is capable of being selfless when it comes to profits for fear of being knocked out of business.

This is where, in my opinion, a neutral party (the government) needs to come in and say "Hey, this will be bad for everyone if it continues, so I'm putting a stop to it." The problem (again from my perspective) is that Republicans have this mantra of "Government needs to stay off of Wall Street!", which can only lead to problems like the one we are in now. Businesses should be allowed to make profits, but they can't be given free reign to do so in ways that are destructive in the long run.

I don't want to turn the economy into a republican versus democrat debate, but there needs to be an understanding that the goals of corporations and banks are NEVER going to be in the best interest of people. They can't. That's like wishing a shark could care about tasty seals.


---

As for myself, the company I work for as a day job, filed for chapter 11. I can't blame it on the economy so much as newspapers across the country are doing poorly and have been getting worse for years. The economy doesn't help, but it didn't cause this problem. For the time being I still have a job, but it's likely only a matter of time. In truth, I almost look forward to the eventual lay off. I'd rather spend time really focusing on my freelance artwork, and maybe eventually getting a real art job instead of graphic design. I just paid off my car loan, so I have one fewer major expenses, so I wouldn't mind a little time on unemployment to focus on my career.

[Bill]

We've lost something like 1.1 Million jobs in the first 59 days of the year.


I'm scared.

[CGMonkey]

What goes up...

[Slash]

...will eventually drift into space, where there is no "up" or "down".

[Queen Nehalania]

It is getting bad...
With my family, we are just doing what it takes to get by. We work at a family business kinda thing and its gotten to where it is almost strictly family. We've only got one worker that isn't in our family there when we used to have many orders long ago and had like 5 or 6 other people.

We can't have most of the luxuries that we did long ago. Eating out at restaurants (not fast food) is mostly just for special occassions like birthdays now. We don't even go to malls anymore. We get the bare necessities.

I was able to get hired at a local movie cinema in november of last year, so not too long ago. But we've had to lay off a few and many of us including me work only 1 day a week, some 2.
And lots of times some of us have to leave because we don't have many people coming in so it screws up payroll sometimes.

As for my boyfriend, he's been hit pretty hard. He's been searching for a job for a long time now. He's still keepin' his chin up, but it looks bad. No one is hiring and when they do lots of people hit that place with applications.
Workforce isn't doing anything for him either.
Its really sad, very depressing.