The Economy

[octagon]

What is the difference anyway,the world is going to end on December 21st 2012.Haven't you guys looked at your mayan calenders or read your I Ching?

[ozover50]

I don't think things are as tough here as they are in other parts of the world - notably the US, UK and New Zealand. Unemployment is very much on the rise but to date not a lot of businesses have gone belly up - mainly due to 'people shedding' and natural atrition. I'm in the IT industry and it's interesting to note that a number of our clients have rationalized both staff and overheads wise and are using part of the savings to invest in productivity gains through their business applications and improved efficiencies. Unfortunately those improved efficiencies often result in redundancies.

We are currently booked up until September as far as existing projects are concerned and we even sold a few systems over the last couple of months, which is good because that involves project management and more often than not some modifications to our software. It seems to me that many businesses saw what was coming and prepared accordingly.

Our government's new IR laws were passed in Parliament last week and it will be very interesting to see what impact that has on employment, as they involve tighter laws on 'unfair' dismissal and increased power to the union movement. One thing that bugs me is that union bosses will now have the right to inspect the employment records of non-union employees. What gives them the right to do that and for what purpose would they want to inspect them anyway?

[jimk]

I live in a university town, so no matter what happens, even though student enrollment may drop off a bit, we haven't really felt much of a pinch. It rather surprises me to the point where I'm almost starting to have survivors' guilt. People keep finding the money to take banjo, guitar, or fiddle lessons, which keeps me happy. And I haven't had to dip into my Rick savings for necessaries for the household.

Our house is a modest one, we drive an older car, which is paid for. We don't eat out much, and don't feel the need to see the latest movies. We've always pretty much lived within our means.

JimK

[grazioso]

i am happy to report that buffalo ny is as as bad as always which means it didn't go down at all because there was no space in that direction left since this region hit the bottom about 20 years ago... one interesting fact is that we had price jump in housing last year. it seems that the economy somewhat stabilized ..... i had bunch of things on ebay and just as usual about 1/2 of them sold like hot cakes for very good $ so no complains there. it seems that the worse wave of desperation is over.

[BCGUY]

They tell us here in Canada that our banks are the safest in the world and that we wont be affected as much as you people in the U.S. by the current crisis. But with that being said our economy is heavily based on our exports to the States. The lumber industry here is one that's taking a big hit right now. No one is building houses in the U.S. anymore so there is no market. The oil industry in northern Alberta has really slowed but I think that has more to due with the current price of oil. The big oil companies have been so use to the over inflated profits they have been getting the last few years that when things have come back to normal they call it a loss. Over simplified I'm sure but that's the way I see it.

Personally I have been hit kind of hard I guess. I was permanently layed off before Christmas along with 300 others who worked for a big U.S. company who felt that China and South America were a better place to do business than Canada. For 40 years this factory had made a profit but I guess there is always someone who will work for less somewhere. The part that really bothers me in my situation is the owners wouldn't entertain any offers to buy the factory and they have now at substantial expense removed and scrapped the best of the specialized equipment so the plant cannot be restarted by someone else down the road. They didn't want to lose their market share. Now I wont buy anything that comes in a glass container or a bottle of wine if it has an "O-I" stamped in the glass.

I predict a major recall of anything that comes in a Chinese made glass container because of high lead content in the next year or so, you watch.

I'm going to go play my Rick through my Chinese made AC30H2, I'll try not to put it in my mouth.............very much.

Cheers,

[brammy]

Well, it's hit me upside the head fairly directly. The company I worked for is now in Chapter 11 and I (along with almost everyone else) was laid off. Since the company made luxury RV's I guess it's no surprise that it went belly up. As for me and my cad-design career.... it's likely that I'll have to move from central Oregon. Sucks bigtime.

Oh, did I mention that I have a Rick 620/12 on ebay?
http://cgi.ebay.com/ws/eBayISAPI.dll?Vi ... 0321542981

PS:.... will the world end in 1012? All I can say is

[xcoyle]

When times are tough, put your money into a reliable hard asset, that sings a sweet tune!

[jimk]

That reminds me, the Exec Director of the Americana Music Academy (where I teach) and I were talking generally on this topic. And it turned to the cost of getting oneself buried. When his wife asked about it he showed her his Gretsches, and his National steel, and a couple of other high end guitars, and said "Honey, there's your insurance policy. When I'm dead, sell 'em." And I brightened up and said that I had a guitar or two that might do for insurance.

JimK

[brammy]

Bob took it with him....

Bob Marley passed on May 11th, 1981 at a Hospital in Miami, Florida at the age of 36 and was burried with his guitar.
http://www.bob-marley-lyrics.com/Bob-Marley-Bio.html

[jagdeluxe]

Hey Jim K Have you received your 360-12 yet,man you,re patient.I also enjoyed the 2 songs you have on your page, specially the blues resonator R. Johnson inspired one.Keep it up,will sound great with the Ric.

[wmthor]

I'm taking about a 10% cut in pay by being furloughed two days a month. However, if the new union contract is ratified by the California Legislature, the furloughs will be reduced to one day a month.