Recession

[EllwynX]

Luckily I'm in a line of work that even a recession (or depression) has little effect on. Prisons require employees regardless of the economy... So I don't worry about losing my job.

If I were in some other line of work I probably wouldn't have ordered the Camaro at this time.

Regarding all the people who have lost their homes... I have little sympathy for anyone who gets in over their head and ends up paying for their stupidity. I know not all of those people fall into this, and to those that have lost their home due to job loss, I feel very sorry for them. But the majority of people who purchased their homes knowing they couldn't afford them, be it with an interest only or other various mortgage scams, they got what they deserved. When I was looking for my house we were approved for a lot more than we ended up spending on a house. Because we had common sense and knew what we could and couldn't afford...

[XAnimal]

There are very few recession proof jobs it seems............If I wasn't in the Army I'd probably have a hard time

[Xanthos]

Originally Posted by XAnimal

There are very few recession proof jobs it seems............If I wasn't in the Army I'd probably have a hard time

Exactly. Thats why I'm looking for an AGR position.

And since everybody else is looking for one, its hard to find one.
- Xanthos

[SScattergunSS]

The thing that's kicking my butt is the fact that I could get a GREAT DEAL on other cars right now. I even have a PIN # from Ford. But nnnooooooo, I had to fall in love with the full price Camaro! Oh well, I just hope the honeymoon lasts a long, long time!!!

[TheCavalry]

Originally Posted by XAnimal

There are very few recession proof jobs it seems............If I wasn't in the Army I'd probably have a hard time

yea i hear you on that one bro. good luck by the way.

[Xanthos]

Originally Posted by interrex

Well it is starting here in Kokomo Indiana , Buick Pontiac dealership closed overnight with no warning. They said it let all sales departments go and keeping the service department open for right now. I do not think anybody will do business with them any longer. Its a shame to. I hate to say this but I do not think we have seen the bottom yet..

I think you are correct. But things always get worse before they get better. It will come back up eventually.
- Xanthos

P.S. - On a positive note, if you qualify for the credit or have the cash, now is a REALLY great time to invest in real estate.

[Xanthos]

Originally Posted by interrex

You got to be kidding right? There is over a thousand houses empty or for sell in my county alone. Not a very good investment. Most or all the factories have left. Unemployment is about 10 percent now.

You're looking at short term. The markey WILL right itself. Get the houses cheap now and sell them for more later down the road.
- Xanthos

P.S. - Even the experts have said this.

[Silver Streak]

Originally Posted by leatherneck

I have soome bads things hapening to me--like i havent received not even one letter yet!!!!!!!!!

but the economy doesnt affect me ---thank god----im retired--60 years old--100% service connected disabled and 100% social securiy disabled!!!!

I get 3000 a month from the service tax free---1000a month ssd-tax free----an I have a rental 400 a month

Thats approx. 52.000 a year tax free--it goes up every year --i own my own house and pay a car payment an utilities-----soo RECESSION?????---WHAT RECESSION??????!!!!

Not everyone in that boat. So what is your point. There is a recession wether you feel it or not! So I really don't undertand why you would come in here to gloat about your situation while many people are suffering for real. This is serious, maybe you should consider that before such statement. What recession??????

[Xanthos]

Originally Posted by Silver Streak

Not everyone in that boat. So what is your point. There is a recession wether you feel it or not! So I really don't undertand why you would come in here to gloat about your situation while many people are suffering for real. This is serious, maybe you should consider that before such statement. What recession??????

I don't think he meant it that way - though it does seem potentially open-mouth-insert-foot.
- Xanthos

[Camaro_Corvette]

Originally Posted by interrex

Well it is starting here in Kokomo Indiana , Buick Pontiac dealership closed overnight with no warning. They said it let all sales departments go and keeping the service department open for right now. I do not think anybody will do business with them any longer. Its a shame to. I hate to say this but I do not think we have seen the bottom yet..

They Closed!?!?!?

Kokomo is a bad example though. Right now it is the 3rd fastest dying city in america. It's really unfortunate, but the entire city thrives off of a few big companies all of which are extremely unstable. People have feared this for damn near 20 years now, and yet nothing was done to prevent it. They dropped the ball on GETRAG and somehow my small rinky dink town got a huge plant built in it that right now has no owner, and no business and is hoping that another company (probably honda) buys the freakin facility. I don't know what is going on in Kokomo but it is not good.

Even going to the kokomo mall was a joke. When you and three others are the only people in a MALL then you know you have a problem. So when I think about it, yes I am surprised they closed this early in the game, but on the other hand I am really not surprised at all. But I wouldn't say that the entire economy is going to the toilet just because a dealership in a dying city shut down.

[MerlinZero]

the only real problem i see with the economy the way it is, I will get absolute CRAP for my trade-in value.

[Xanthos]

Originally Posted by MerlinZero

the only real problem i see with the economy the way it is, I will get absolute CRAP for my trade-in value.

Yeah... luckily my mom wants to buy my car from me for a beater.
- Xanthos

[TomServo]

I think it's too early to cry the "sky is falling", but the reality of the situation will set in when folks attempt to complete the transaction (ordering a car with $500 deposit is easy, hell you don’t even need a job). But let’s see what happens when folks:

1. Trade-In their vehicles (if they have one). Many are going to be insulted on what they are offered
2. Financing rates (based on the newly revised FICO scores and availability of money to lend)

So don't summarily dismiss these questions. We learn by asking.

BTW in the last week I have witnessed 40 of my associates get laid off (DoD government contractors) who all had high paying jobs and could have purchased anything they wanted. Many are Corvette owners and were looking at trading up to take advantages of all the great deals going on. This recession is real and most likely will get worse.

[leatherneck]

Originally Posted by Silver Streak

Not everyone in that boat. So what is your point. There is a recession wether you feel it or not! So I really don't undertand why you would come in here to gloat about your situation while many people are suffering for real. This is serious, maybe you should consider that before such statement. What recession??????

Im sorry for your situation dude!! i wasnt trying to gloat or make fun of anyone else I was just stating my position. Just as people state their position about having received both letters while i havent got even one


that being said we are friends here dude i dont appreiate the tome of your post --it was unnessacary----if you are in that dire of a financial situation why are you buying a 35.000 car. an if youre not buying one --then what you say doesnt mean jack---its dooms day people like you --that have fears of every little thing that makes a recession hang on-- sure theres a recession-------but i worked haed to be in the position im in --i gave my leg to my country to get the money i get------this isnt a poor me thread----this is a camaro thread-------plus i might add no one has suffered more thn i in the last 40 years-- soo go cry to your mommy cause i dont wanna hear it