Worldwide economy discussion...

[Werewoman]

I want to discuss how the present economy effects people individually, especially from different parts of the world. I say that because my current economic situation is a bit dire and unprecedented in my experience.

Also, I hope that if there's anyone here who finds themselves in similar circumstances can vent about it. I now have the experience of living on opposing ends of the economic spectrum, and it's quite a ride, folks. While I would not wish it on anyone, I would not trade it either. Remind me I said that on days when I'm at the end of my rope and raging at the unfairness of it all.

I am now technically homeless, though I live in a residential hotel. I was able to get a manageable room rate because my daughter works here.

Basically, for many years I lived a comfortable life. I had a 2,000 sq. ft. home, a nice new car, and even remodeled that home with my husband. We put in a pool table and dart board, added crown molding, dropped $10,000 USD on flooring alone, and had an awesome life.

We owned our own business, and were very successful. I was a teacher, which I loved, but I didn't really have to work, I worked for the health insurance, and teaching chose me - another story in itself - so we did very well financially.

We saw things going on around us that concerned us, like NAFTA and the way american companies were outsourcing to china for labor. Also, when we bought our house, we qualified for a $350,000.00 loan, but could only afford $150,000.00 at the most (this was in 1997), though the mortgage company would have preferred we buy bigger. We knew our limitations and gently declined, settling for the 2,000 sq. footer. It was a lovely home in a very nice neighborhood and we spent 12 years there.

Fast forward to November of 2009. We had to abandon that home. We lost our business, through no fault of our own that we can find, though in hindsight there were decisions we could have made differently, and were forced to move from Florida to Texas to find work. We are simple tradespeople and are good at what we do, but there is no work there for us and no family there either. Here, we are close to family but they are not in much better circumstances than we are except that they have work.

I found a part-time job working in a clothing discount store and couldn't be more thrilled. That's a huge difference from being a teacher, and I don't care. I'm happy to have work.

The problem is, I spend so much time now just trying to survive, I don't have much time for the outside world. I want to know how others are faring and how they cope.

So many times, I've had people suggest things like local community action agencies that help those in need, but in Florida, we were turned away because we didn't have anyone in our household under the age of 5, over the age of 60, or on social security because funds were too limited. In other words, we're pretty much on our own here.

We are in the process (again - the last time I tried I was turned away because we still 'technically' owned our own business, the fact that the business was not making any money anymore didn't matter) of applying for food stamps and public assistance, but it can take several months.

We've been selling off everything we own to get by. Yesterday, I sold my wedding ring to buy a birthday gift for my son. I got $20.00 for it and was able to buy what he wanted.

If all of this sounds depressing, it is, but there is a bright side to it. At least I HAD a wedding ring to sell. That may seem like a strange way to look at it, but it's the way my life is now, and I am grateful.

WW

[Sparrow]

Sorry to here the recession has hit your family so hard.

We also live in Florida and as you well know it's worse here than most parts of the country. We too were living the good life, 1800sqft home on the 18th green of a four star golf course and a fifteen year mortgage, money in savings, retirement plans, good health insurance.

About three years ago I had the most important discussion of my life. It was a serious sit down with my girlfriend where I told her that things would need to change, "the economy is in very bad shape but nobody wants to believe it, our home value is insanely inflated, and our retirement plans are overexposed to this economy... which is a house-of-cards ready to collapse..." and so on. It was a while before we pulled the trigger on it but we took everything out of stocks and stuck it in bonds, a year later we sold the house and moved downtown near where we both work. The house sold to the first interested buyer for a good price... it had only been on the market for three days! We bought a 106 year old home that needs fixing up, which is where we're at now.

As they say, it's better to be lucky than good, and boy were we lucky!

I am also very fortunate in that I work for a good employer that as amazing as it sounds, laid off (terminated) the president of our plant, and retained as many hourly employees as possible (it still blows me away). We've been very busy for three months now and new accounts are returning... not as a result of the economy picking up so much, but because some of our bigger competitors have bitten the dust and we're getting their work.

Sometimes going with a gut feeling is all you can do.

And good luck to you, Werewoman, the economy will get better (it always does). I think you have the right perspective on things. Though you have a job I would encourage you to keep looking for a better job and work your way back up.

[Wiglaf]

Hanging by a thread. This seems close to the early 80's except, in the 80's, I didn't have to feed myself as I was a kid. What scares me is that from what the California and Federal governments are doing, I don't see a prolonged boom in the wings like there was in the late 80's. I accept ups and downs but, if bad government prolongs the down or causes a double dip recession, I won't be able to hang on.

[Werewoman]

I think it will still get worse before it gets better. What's happening in CA and FL is happening elsewhere, and will continue to spread.

Sparrow, you work for a very smart employer. I don't agree with government bailouts by a long shot, but it seems to me that when President Obama bailed out those large corporations, he cut off our economic nose to spite our faces. Who does he think supports those huge corporations? It's small businesses like ours that are the real backbone of the american economy since most of the manufacturing was sent overseas back in the '80's. Since we were tied into the construction industry, it hit us hard and fast early on. It would have been smarter if we had bailed out at the end of 2008, but we thought we could ride it out, and we felt we had put too much blood, sweat, and tears into to just walk away. In the end, we had no choice. It was costing us more to run it than we could bring in. We maxed out our line of credit at the bank and couldn't pay it back. We'd go broke and file for bankruptcy, but we can't afford the attorney fees right now.

If the government did more to support small businesses, I think there might be a chance we can turn things around before half the population ends up in the same boat I'm in right now, but even if they start now, I think it's too little too late.

I don't mean to be such a pessimist, I believe I'm a realist. I know how the system works. If I were a single mother who couldn't keep her knees together, I could get all kinds of help, but because I'm happily married and well educated, I don't qualify. That's the reality of it, folks.

Wiglaf, you'll hang on, I promise you. You'd be surprised what you can do when you have no choice.