Nervous about the economy?

[mustard76]

Almost everyone I know is getting nervous about the slumping economy. For me, the ad revenue for one of my blogs has tanked. And it's getting harder for me to return to my previous career if I ever wanted to go back. Other than that I'm not feeling the slump too much. Luckily for me, I have other sources of income that have not been affected yet.

How is the weakening economy affecting you?

[ixmatus]

I'm actually prospering from it...

[Angela]

Funny you should ask. I just found myself repeating a quote in another thread of a guy who was looking at the issue of money in his life during the early '60's, here.

[sbdiane]

That is a perfect quote. I completely understand with every fiber of my being what the man you quoted said:

What does a man need - really need? A few pounds of food each day, heat and shelter, six feet to lie down in - and some form of working activity that will yield a sense of accomplishment. That's all - in the material sense, and we know it.

It is my attachment to house and home that enslaves me and keeps me from living the above. My attachment to appearances. What would people think if I didn't have a home, clothes, car, job?

I have lived the above and it was the happiest time I have ever known. Living with only a few pounds of food each day, shelter, a place to sleep each night and working activity each day that led to a sense of accomplishment. It felt so real, so human, so natural. Only 3 months of it left a lingering culture shock so severe to rival anything like going to a foreign country.

I am left with fear that the economy will keep going and keep me from ever living so authentic a life again, or that it will fail and force me to live that way again without any choice. It's crazy-making, that is for sure.

But am I nervous about the economy? Sometimes. I feel like I'm waiting for the shoe to drop. Nothing seems different yet. I just keep going about my business like usual. Sometimes it seems like all this stuff about the economy is about huge corporations. They are failing, but so far I am not. Maybe it's our dependencies on them that are failing. We can't rely on them anymore. We sholdn't. We never should have, I don't think. I think we could live just fine without them. If we did, I think our economy would be stronger. I think the future is in small business. Small is better. So in a way, I'm excited and hoping to see bigness fail if that means smallness can rise.

[Angela]

Yeah, it really resonated for me during these times when people are asking me, "Aren't you scared? Aren't things just terrible?"

Well, no, I'm not, and no, things are not. People are facing challenges, that's for sure, and some are handling it better than others. But one thing I'm noticing is that the more you have to lose, the more you have to lose. Danger Man and I have already looked at the worst case scenario and recognized that it wouldn't be so bad. (Well, the WORST case scenario would be if we died, but even that is not so very terrible, except from the standpoint of no more green tea soy ice cream, and maybe there is some version of it on the Other Side. Honestly I doubt we would notice.)

I should knock wood, though, huh? I guess it could be worse than we can ever imagine! We'll handle it.

Best wishes to everyone who's having a hard time, and I'm sorry for your pain -- I'm confident you will triumph.

[Apollia]

Surprisingly, things are much better for my family than they were about a year or so ago. The only problem is, this was achieved by one of my relatives finally giving in and getting a job which they hate.

My personal financial situation is roughly the same. I still am very uncertain as to how to make money, but, my programming and web design skills are improving, so, I feel less helpless and doomed than I used to years ago.

I'm relieved that Obama won but I would've been much happier if Ron Paul had won.

I'm still worried about many economic things, too numerous to list here - but I wrote about many of them here, here and even here.

Naturally, I wouldn't be _this_ interested in the economy if all seemed well. It's really not my favorite thing in the world to think about. So, that's another way it's affecting me - at times, it draws me away from things I'd much rather work on. In fact, I hate having to even think about money at all.

Best wishes,
Apollia

[smartile]

Originally posted by mustard76
How is the weakening economy affecting you?

What weakening economy? I hadn't noticed, maybe I should watch the news and listen to the radio like everyone else.

I did notice that gas is cheaper when I filled up this morning. I also noticed that I had more money in my bank account than usual, but that was it.

[MisterEThoughts]

I think it's about not listening to anyone around you. Many people enjoy spilling fear into many. Sure, things are not as good as it used to be, but that doesn't mean we should stop living.

[smartile]

Originally posted by MisterEThoughts
I think it's about not listening to anyone around you.

Exactly. You create your own economy under your own terms. Stop looking outwards for answers and starting looking inside. This is the only way to create an economy worth creating.

[karinalynn]

We've been here before...The early 80's had bumps even worse than this. Don't get me wrong, it will likely get a little worse before it gets better. But it will get better. It will get better in your lifetime! Until then, hold on, do your best every single day and you will be just fine.

People still need to buy things, and that means there will still be jobs. You might have to work harder and spend less...but the people in the US have been living way beyond their means for years now. Credit is NOT money! This whole "crisis" has the potential to make us a better country if we handle it correctly. We may just become smart consumers again!

Maybe this Christmas, people will be more thankful to simply have a hot meal and their family. My family is focusing on family instead of gifts this year. What a blessing!

[teatree]

I think that the recession is only just beginning to bite the online world, and it will be harsh. Already a writing site, Thisby.us has announced they are closing in Feb, and a UK blog advertising firm, Matched.co.uk is also closing (which is a pity as they supplied a neat ad and paid a flat monthly fee, always on time).

I also think the online world will get more crowded, as many people who are out of work think "I know, I'll try to earn online". Competition will be fierce.

[Ebinesos]

This is pretty unsubstansiated, but it is also only my view: there have been some pretty egregious despiraties in the world for quite some time. what are those? ask yourself and come to your own conclusions. Now that we have the first generation of employees that have been exposed to computers and the internet their whole life there is a global reposisioning of power. The shift is from the TV/newspaper industrialized media to individual awareness and concerns. Some things are going to go bunk... car industries, because they are being devalued, and credit because we are starting to value the environment (as in give a dollar amount to the services Earth provides, to see how much it would cost to do those same things on our own). This is a medium run event... people see that the transition is going to take 5-10 years for modern industry to reflect the values of the hyperaware hyperindividual person.

The stock market is set up to capture future expected earnings. It is crashing because the companies we have relied on do not have models that reflect earning potentials in 10 15 years. Under the current models, American automakers will be prohibited to sell their cars in america, because of ethical environmental standards.

(short side story: I used to live by a busy street as a child. Across the street was a blackberry field. I would walk over to pick berries, and would dust them off to eat. Is it fair for one persons transportational convenience to jeopardize anothers personal health? In the future no.)

The economy is in the tank. Old models aren't going to solve this. Old businesses aren't going to solve this. Fortunately we have the infrastructure to support restructuring.

[funchy]

I see what is happening right now as an inevitable market correction. Good or bad, it's just a cycle in the market.

I don't think it's just a media exaggeration. I'm watching friends lose jobs, more stores than normal close, a friend lost his house, the local auto plants close, etc. Several of the big retails are declaring bankruptcy. Literally over half of the office building I work in is suddenly now vacant. I'm not saying we should panic, but we also can't live in a little bubble and pretend it's not happening.

It can be a learning experience. Too many people were living beyond their means, not saving, and not thinking ahead.

I am concerned by the replies that seem to say "it's not really affecting me." It's affecting ALL of us. In the US, $700 BILLION is being given to banks. The US automakers want $25 BILLION. Where does this money come from? Our taxes will be going up for many years to come. Everyone will feel this. As it is right now, many of us are paying close to half their paycheck in taxes if you count all the hidden taxes (auto tax, property tax, utility taxes, sales tax,fuel tax, FCC taxes, federal surcharges, estate tax, you name it... there's even a dog-ownership tax!)

If half of every day you work is just time spent working for the government to pay its bills... and they want to expand this burden... we should all be concerned!

[sbdiane]

Ha ha. Thank goodness I quit my job early this year and won't earn enough to pay taxes. I ain't payin' for the bailout. At least not this year.

[fountainAtlas]

A different perspective is that those fear mongers as you call them, are hurting. They have 401K and investments, which have tanked far worse than ever. Maybe should realize that those people slaved and did things they hated for that money and to see it gone is all the more painful.

This site is about understanding one another. So maybe you can try to understand those that may not be as enlightened as you guys.

-FountainAtlas

[jawillie]

It is not affecting me yet. And if/when it does, I will deal. I guess don't get why the big worry. My family has always survived, even when the lights were getting shut off because the check used to pay the bill bounce. No biggie. You do what you gotta do.

Now, if you feel your worth is measured by your stock market portfolio, or the size of your estate or how many new cars you have, then the fear of losing them will make things seem dire to you. It's a choice, though, to worry or not to worry.

[yogesh sarkar]

It’s just a phase which occurs every few years and help gets rid of the flab. Too many bad business plans manage to thrive during boom time when investors invest blindly into any thing which is centered around a particular buzz word, when the market crash, these businesses fail because they were destined to, due to poor initial planning. This in the long run is good for the economy and people at large, though in the short term it might mean hardships.

[jawillie]

Originally Posted by fountainAtlas

A different perspective is that those fear mongers as you call them, are hurting. They have 401K and investments, which have tanked far worse than ever. Maybe should realize that those people slaved and did things they hated for that money and to see it gone is all the more painful.

This site is about understanding one another. So maybe you can try to understand those that may not be as enlightened as you guys.

-FountainAtlas

I understand people, but I don't feel sorry for people who put ALL their faith in money, or stock markets or 401Ks. My Mom has never had any of that... she doesn't get a "retirement." Her perfect-cruiser cousins used to shun their noses at her because she wasn't as perfect with her money as they were. Well, what is all their "planning" and "saving" and fretting getting them now? Just worry and heartbreak.

Money does not equal stability. There is NO stability. It's a far-fetched fantasy that people seek out and think "stable jobs" or 401Ks are the way to achieve it. That's false. I think if you can realize that you won't suffer like everyone else. I dont have pension plans or 401Ks. I just live.

There is no stability in life.

So, I understand them, but I won't aide in their suffering by feeding to the lie that they are losing "everything." They are worth more than the 401ks or stock portfolios. Their stability lies within themselves. I won't feed into mass fear and hysteria over false illusions.

[fountainAtlas]

Originally Posted by jawillie

I understand people, but I don't feel sorry for people who put ALL their faith in money, or stock markets or 401Ks. My Mom has never had any of that... she doesn't get a "retirement." Her perfect-cruiser cousins used to shun their noses at her because she wasn't as perfect with her money as they were. Well, what is all their "planning" and "saving" and fretting getting them now? Just worry and heartbreak.

Money does not equal stability. There is NO stability. It's a far-fetched fantasy that people seek out and think "stable jobs" or 401Ks are the way to achieve it. That's false. I think if you can realize that you won't suffer like everyone else. I dont have pension plans or 401Ks. I just live.

There is no stability in life.

So, I understand them, but I won't aide in their suffering by feeding to the lie that they are losing "everything." They are worth more than the 401ks or stock portfolios. Their stability lies within themselves. I won't feed into mass fear and hysteria over false illusions.

That is such a black/white view.

Money does buy some amount of financial stability. Nothing is prefect.

Also, you shouldn't feel sorry for them, they did what they did, and they should take responsibility. But to say something like "why is everyone worried" is a bit ignorant. Since there are reasons for why some people are worried.

And if they did proper planning then they only lost 40-50% of their investments. I would rather have 100k then lose 50k, then to have nothing and lose nothing. 50k, buys a lot of healthcare, food and shelter.

But that is just my view.

-FountainAtlas

[Far3]

It didn't hit me as hard as it hit my professors, one claimed loosing about 5% of his total retirement. My grandma lost a lot of money in the stocks as did everyone.

Me personally, I'm just getting started in the stock market, and I'm only 18 I didn't lose nearly as much..also my young age has an advantage over my grandparents who are in the 70-75 range.

So over the next few months-years should be paramount for everyone.

[JGrace]

First, decide if you really want to know just how bad things are economically in the usa.

If your answer is yes, educate yourself.. look at the crisis straight in the face to the best of your ability. For most, this takes time.. it is too shocking.

Then after you have a basic grasp of the coming collapse/s,
educate yourself on how to prepare, how to protect your assets,
you health, your relationships, your sense of self.

We are all in this together, the more people who are prepared in advance,
the more we will all have the chance of flourishing.

[geekmba360]

I recently published "Depression 2.0 Survival Guide for High Tech Professionals", which offers strategies, analysis and tips on how to survive layoffs and beat recession.

Although the title was targeted to "high tech professionals", I think the advice should be applicable to anyone. :-)

Here is link to "Depression 2.0 Survival Guide"

Hope this helps.

GeekMBA360

[SimonaRich]

Why would you concentrate on external things? If you feel abundant, you will see abundance around you. Opposite is true too

Economy has never been greater to me!

[Jonathan Browne]

I think everyone should chill. That's the easiest prescription here. Economies only come to a total collapse if everyone get's scared and stops doing business - running for the hills so to speak.

The idea that you would put quotes around "saving" so as to imply sarcasm about the notion, is pretty irresponsible. Saving is extremely wise. It, combined with investment, is the way to wealth. Doing those things benefits everyone in the long term. If everyone just spent all the money they had and didn't attempt to save everything would eventually slow down terrible, because no one would be able to invest in anything substantial. Growth would be minimized.

If people don't run for the hills they will find that most solid investments will go back up again. Now is also an excellent time to invest. Keep in mind that investment does not have to be in the stock market. There are many ways to invest your money.

As for the minimal lifestyle... I don't think that's a very high human ideal. It's more of a worthy cause to feel gratitude for where you are now but continue to pursue much greater abundance then to become proud of staying at a standstill.

I don't know about you, but I would much rather retire with money to take care of my family and friends, and go gracefully out of this world then have the last parts of my life filled with worry and torment over money.

Money is a means to an end. "the economy" is a means to an end. It's not something destined to fail because we'll somehow "run out of money", or "their isn't enough to go around". Money is simply an exchange. The reason their are even third world countries and poverty in the first place is because of ignorance or corruption, not because of limited resources.

[Fullcrum]

To be honest, I am not scared at all.

I cannot remember ever feeling scared. When the economy tanked, and my mother lost her $150,000 + Goldman Sachs job in November, no I was not scared.

Why would I be? Won't I not have enough money for my green smoothies and expensive organic raw foods? I mean, calorie for calorie meat is far cheaper than fruits and vegetables, with few exceptions. What about those dinners out? What about that new 1 TB external hard drive I wanted?

I'm not worried. In fact, the bad economy catalyzed me into buying SBI and entering the world of business at age 17. For that, I could not be more grateful to the bankers and f**ked up mortgages and foreclosures and all the other nonsense going on. I'm on the upswing.

Does this mean I do not feel compassion for those losing much of what they have? Yes, I have compassion. But then I always have compassion for every human being. It's powerful, compassion, and it's always there, in the background, like the now.

I could feel bad for myself because of everyone else doing bad. "What right do I have to be GRATEFUL for people losing their jobs?" That's not the point. Gratitude serves to uplift myself and those around me regardless of the state of the economy.

So with this in mind, I hope the economy serves as a catalyst for the entrepreneur and conscious being within every man, woman and child.

Truth, Love, and Power.

[smartile]

Originally posted by mustard76

Nervous about the economy?

I've got a different take on your question.

Any time you have feelings of doubt, frustration or nervousness, you're not thinking thoughts that serve you. You're thinking thoughts that harm you.

If you feel nervous about the economy, realize that this feeling has come from destructive thoughts. Cancel them immediately and replace those thoughts with thoughts of what you truly desire and want.

Good thoughts will lead to good feelings. And those feelings will cause the attraction of the circumstances, situations and conditions to create what you truly want.

This isn't spiritual gumbo - this is how it works,

[aussieNickuss]

I'm not worried at all...there's always a light at the end if you ever find yourself stuck in a tunnel....which I'm not right now.

I was in JB Hi-Fi (an Australian retailer of CDs,DVDs, consoles, TVs, stereos, computers etc.) a couple of months ago before the christmas rush had set in. There were queues miles long of people with arms and trolleys full of nintendos, playstations and plasmas TVs. There were people buying thousands of dollars of equipment. Seeing that made me realise that the world economy is no way near as dire as the mass-media would (like to) make you believe.

[SimonaRich]

Originally Posted by mustard76

Almost everyone I know is getting nervous about the slumping economy. For me, the ad revenue for one of my blogs has tanked. And it's getting harder for me to return to my previous career if I ever wanted to go back. Other than that I'm not feeling the slump too much. Luckily for me, I have other sources of income that have not been affected yet.

How is the weakening economy affecting you?

Economy has never been better!

[darkun]

aussieNickuss:

I believe our economy isn't being hit as hard as other countries or even as hard as the media would like us to believe. With the exception of my father who is a commercial courier, no-one I know has experienced a downfall in the economy.

In regards to my area of interest, I have heard that 3000 Australians on UK working holiday visas a week are returning home from the UK prematurely due to lack of work. When I hear this I immediately think 'wow that's an extra 3000 more jobs available in the UK for the people that have the courage and strength to stay and diversify their goals'

Like many people have posted in response to this thread, I see the economy as a positive challenge instead of a negative set-back.

[brandongilbert]

Originally Posted by mustard76

Almost everyone I know is getting nervous about the slumping economy. For me, the ad revenue for one of my blogs has tanked. And it's getting harder for me to return to my previous career if I ever wanted to go back. Other than that I'm not feeling the slump too much. Luckily for me, I have other sources of income that have not been affected yet.

How is the weakening economy affecting you?

I dont think the economy is weakening, it is just changing and the wealth is shifting.

Out with the old in with the new.

A lot of people are losing money and a lot of people are making money.

Robert Kiyosaki and Warren Buffett both see times like this as massive opportunities for creative and driven business people.

Look for an opportunity and go for it.