How bad is the Economy hurting your situation?

They have said all along we aren't in a recession.

But, in my world if it walks like a duck and quacks like a duck, it's a duck!

Quack! :laugh:

 

Every corporation is a Delware Corporation because of the tax benefits. That helps the residents of the state in tax revenue.

 

you guys are missing the biggest part of the storm about to hit...the shutdown of commercial lending and YES it is hitting us small businesses HARD. Lines of credit for operating capital are gone and now we finance our businesses personally. That will equate to people being laid off and expansion will stop (ours sure has ground to a halt). Business is still good, another record year but no bank will touch a commercial loan right now or if they do they are wanting 50K-100K in CD's to back the loan other than property, vehicles or tradiotional collateral.

Folks that blame any one president are so short sighted...this is a policy change that started w/ FDR and congress has continuously worsened the situation. This financial correction is needed, it will not be pleasant and hopefully the giveaway programs and "free money"/125% mortgages and other nonsense will be gone forever...and hopefully the commercial lending doesn't kill the private business sector and jobs in the interim

 

I agree. They all suck. VIVA REVOLUTION !!!!! :rant: I'll help w/ the scaffolding for the executions!!!!!! Anyone want to convoy up to DC??????:blast: :TU:

 

Agreed 100%, but it is very important to place blame squarely where it belongs, regardless of party affiliation. If we quickly wallpaper over the problem with 700 billion dollars of taxpayer liability the resposible parties will be quickly forgotten and they will continue on with business as usuall. As a taxpayer, I want to know that nothing like this ever is allowed to happen again.

 

KC Wade, I feel a tight grip around a lot of small businesses necks right now. We had an ex-employee go open a shop and we do a lot of work for him, and he can't get any loans, and he is reallying just dying, if business continues to stay slow he will be out of business in a matter of a few months.

Me being a service manager for my dad at his business, I have seen it first hand, how hard it is to make it as a small business. He has made it 26 years, and I thank the Lord for that, and pray for many more.

 

I should clarify...the correction I am referring to is NOT the bailout. The implications of that train robbery are beyond my comprehension. The correction I am referring to is one that is needed to clean out the dead beat consumer borrowers, worthless mortgages, businesses surviving on false asset statements/lines of credit with no real profit to show for it...my God the list is staggering and the correction is really going to be tough for some that have gotten by on others merits. They deserve no bailout...and yes I am scaling back, albeit still profitable, but am scaling back and losing some of the toys and distractions in life that really aren't much good for anything when it comes time to feed ourselves. If I fail, it rests soley on my shoulders and I don't expect anybody to bail me out. My successes are mine as well as my failures and isn't that the way it should be?

 

I feel all your pain...AND THIS IS WHAT PISSES ME OFF THE MOST! There are literally millions of us that have played by the rules and we are the first ones to be getting hit by this. Even by the grace of God and our hard work, if we survive then we are faced with 700B in increased taxes?? For the first time in my life I am ready to leave the US if this isn't changed. yeah, I'm pretty disgusted by this but not surprised at what is happening. As I've told some others...the private sector hasn't seen anything yet. Once this starts really killing of small to large businesses and people lose jobs that they had no idea were at risk then it will get bad. Listen carefully...commercial credit collapse will cripple an economy

 

I sent this to my congressman ....You can too if you like it

 

To Poppaluv66,
I know how you feel. Ted Kennedy doesn't want to look at windmills off his front porch. I on the other hand, am perfectly willing for him to look at them. I am not a hypocrite. They can build a windmill in my backyard if it will give me less-expensive, pollution-free energy.

 

The government has a lot to do with the economic trouble we are in right now. Unchecked spending. The government does not stay within their means.Even with the OMB and oversight commitees, the gov. OVERSPENDS. Too many wastefull programs. Not enough regulation for the banking industry. The banks OWN our government if that tells you anything. Outsourcing everything in this country is another problem added. Giving breaks to foreign owned corporations and penalizing domestic corporations doesn't help. Trade with China is not fair. Allowing millions of illegals in to this country has been a huge problem,plus giving the same illegals too much money in welfare. My wife does this everyday at work. These people seem to be given priority over sovereigns.No wonder SS is going broke fast. Money and resource are leaking out of this country like a seive. Another problem is the middle east war thing. Invading and occupying foreign countries costs a lot of money,especially when KBR and Blackwater are involved. This right here has driven up all energy costs. All of this and the Bank printing and dumping trillions of dollars in circulation has created massive inflation. 700 billion more will make even more inflation we don't want or need. Inflation is the unseen tax. Government is far too big. The Department of Homeland was created in early 2001.Look at the expenditures for that agency. We don't need it. The government needs to trim down a bunch.

 

Things are changing rapidly in our country. Most here won't know this, but as of today,Oct.1, Bush has authorized U.S. Army troops to be deployed WITHIN the states. To start with a, a brigade will be deployed. They will be on standby and possibly routinely seen making patrols. Among other things,they are to assist civilian police during times of civil unrest. WTF are they expecting??!! So much for Posse Comitatus and the Constitution. 4,000 troops deployed amongst the states can quickly turn into 40,000. Most of these guys have toured in the middle east ,but have recently gone through urban warfare type training and will be using "non lethal" weapons.

Learn about this here-
http://www.arnorth.org/public/


Announcement-

http://www.armytimes.com/news/2008/09/army_homeland_090708w/

 

Well, the only bright spot it seems right now is at least Prohibition isn't in effect like it was in the twenties and early thirties.
We will still be able to crack open a few if we got the spare change.

 

I'm telling you: BULLSHIT!

The American people WILL NOT stand for the government patrolling the streets in the way you described. I will bet you 100.00 if you want to play. I'll bet you won't.

I'll bet it doesn't happen til the end of the year. Are you game?

This reactionary rhetoric is harmful to those who don't know any better.

 

They're expecting Rodney King riots outside of Wall Street. Let the beatings begin.

 

I work at a paper mill. We make toilet paper. Business is good.

Nick

 

It definitely seems to be true. US military has been deployed for the states. I read almost a year ago that this was to happen. I don't know what their plans are,but I do know that US military has been practicing openly in urban areas,along with local police for the past year. I don't know if there will be "patrols" and "checkpoints",but time will tell for sure. I always thought that this was the job of the states National Guard. But I guess that Bush has other ideas. Almost all of our police forces have been militarized and federalized anyways. No such thing as a peace officers any more. All of our police forces and sheriffs come under the Dept. of Homeland Security jurisdiction. The Patriot Act has a lot to do with this. Sad to say,this isn't the America that it used to be. Doesn't look like Bush was joking about this being a "dictatorship". Seems to me that Hitler operated the same way. I haven't seen any military on the street-yet. A little more info-

http://www.salon.com/opinion/greenwald/2008/09/24/army/index.html

And a Devy Kidd article-
http://www.newswithviews.com/Devvy/kidd394.htm

 

Whooops! The Congress voted down the buyout bill,then took 2 days off for a Jewish holiday. Now,the Senate just voted on the bailout and passed it! Now what?http://news.yahoo.com/s/ap/20081002/ap_on_bi_ge/financial_meltdown;_ylt=AgHZctrLwSbb2CaEYykP9zlv24cA

 

And I wonder where THIS money went!? 700 billion isn't crap!

http://www.youtube.com/watch?v=_rRqeJcuK-A&feature=related

 

Well, I sell new cars and trucks for a living, and the wife is a nurse practicioner in a family practice. For me, August was the worst month I've had in the last 2.5 years in sales. That was BEFORE Gustave and Ike rolled in here in a one-two punch that shut us down for 2 weeks in September. Now, I'm busy again, as plenty of cars were damaged or flooded in the hurricanes. Somebody in Cape Cod is going to be significantly poorer in October, as we cancelled our planned vacation there to pay for the new roof on the crib. Allstate's "coverage" gives me a $10g deductible on hurricane damage. Their estimate was $7500 for about 70% of the roof and my vinyl fence. So far, I have enriched my roofer friend by $10700 for his work, and I figure I've got $2500 in fence damage with me doing the labor--all in cold hard cash out of my pocket. I predict that blue tarps will be on plenty of roofs for a long, long time as people scratch to find the funds to reroof their homes. I reckon that about 75% of the homes around here have serious shingle damage. I am watching credit tighten up on a daily basis at the lot. Plenty of decent people with totalled cars and damaged homes will not be rebought by lenders. I have a good friend who is assuming a GM dealership, and he was having real problems getting anyone to floorplan him--even GMAC. This area is not as bad as others, as we have a strong oil economy here, and that is keeping the wolf from the door. As others have stated, the real threat to all of us is a credit freeze, more so than a stock price issue. I am okay, and have plenty of other talents to fall back on if I have to in order to make a living. The wife is doing fine, too. Personally, I am thankful for what I do have. Incidentally, the military response was immediate and very noticeable post hurricanes. Plenty of guard soldiers, and plenty of Blackhawk choppers, too. I mentioned to the wife that it reminded me of "Red Dawn", only with our soldiers, while it was going on. I reckon they figured the Coonasses here, like me, were going to go Katrina crazy like the looting trash in New Orleans 3 years ago! Thanks, Rudy E.