Participating in History (OT)

[Canoerebel]

Gents,

Some of you guys have already participated in momentous events of historic signficiance - especially those of you who have served in the military.

Most of us are now living in historic times - the economic upheavals of the past several years or so. Without a doubt this is the greatest economic crisis in America since the 1970s, and arguably since the Great Depression. These are times we will tell our grandchildren about. These are conditions that will change the way we look at money and credit and employment, so that our habits will be much different than those of the preceeding generation, and undoubtedly much different than those who come of age when good times return (eventually).

It looks like we are going to be the observors and recorders (via email, letters, diaries, etc.) of an era most similar to the era of the Dust Bowl, bread lines, and Civilian Conservation Corps. In other words, we're participating in history being made.

I hope we can self-regulate and avoid injecting ANY politics into this discussion (we're all mature adults, after all, though we have a hard time controlling ourselves on occasion). But, if we can avoid what might be the inevitable, I am interested in hearing how you guys - my brethern of the forum - are enduring (or perhaps thriving?) these tough times. How goes it for you?

Sincerely,

Canoe "I wonder if we can keep politics out of this?" Rebel

[xnavytc56]

not so good here in Texas, Cr, got laid off in Feb this year, havent found a job yet, running out of benefits too, going to be hard to keep the house and car much longer, know anyone around Austin or Waco with a job open?

Tran

[Canoerebel]

[:(]

[Paladin1dcs]

While I'm holding the line up here in WV so far, I'm stretched to the limit by taxes, cost of living and everything else that goes with modern life.  I know how xnavytc feels though because of the specialization of my job, if the economy tanks I'll be looking at a forced career change.  There's not much call for a Telecom Engineer when people are struggling just to put food on the table and keep a table on which to put what little food they can find.  I've already seen massive department cuts in the last two years and it's only a matter of time until it hits me unless the economy turns back around and after today, I don't see that happening anytime soon.

[Barb]

Well if a "small european ex-Behind the Iron curtain country" is going to help Ireland, Greece, Spain and Italy with their national depts trying to keep Euro strong and not the other way around counts as making history, then we are right in the middle of something really BIG (and I hope it doesn't stink). [:D]

Myself working in Bank-IT sector, I've seen cutting our department employees by half. I wouldnt like to see that again. It isn't very comfortable to work in an environment where the only guestion is "who goes next?"

[Canoerebel]

Word of caution - I'd like to keep the posts to what's going on in your lives - our lives - just like the first couple of rreplies.  This is intended to be about how we on the forum are participating in history.  Avoid at all costs things like national policy, because the inevitably leads to politics.
 
[:)]

[madflava13]

I'm alright, although Gov't cutbacks might endanger my job at some point. I'm a Fed employee, so I am looking over my shoulder at Capitol hill (literally and figuratively). My wife has been unable to get a job (she's also a lawyer) for almost 9 months now.

[Cribtop]

A forum member, Panzerjager Hortlund IIRC, has a sig quote about the end of the era of self delusions and half measures and the beginning of an era of consequences. That sums it up well.

I look at my daughters and realize they will in all likelihood not have the same opportunities I did. I also have to confess, if I'm honest, that despite my own relative success I did not achieve as much as my father did. My job is secure for now, but I'm worried. My wife left her job to raise the kids, and we don't regret it, but are nervous about it for the first time.

I have a lot of thoughts on investments and the market as we are active traders, but that probably isn't what you're looking for.

God help us. I fear for the future. That sounds dramatic, but I truly believe we have entered the "bread and circus" phase of the Pax Americana.

[Nemo121]

In all cultures comes a stage when self-delusion, bacchian excess and the effects of lassitude come home to roost. It was so with the Hittites, the Persians, the Romans, the Zhou Dynasty and, more latterly other cultural hegemonies.

Occidental hegemony has transitioned westward over the last hundred years. This was viewed as inevitable and ever-lasting. As ever reality gives the lie to dreams of permanance and immutability. In the next 40 it will transition eastward barring cultural transformation and strong, non-ideological leadership. Unfortunately the only cultural transformation on the horizon is a liscentious regression which won't answer the great questions before us.

On the plus side there is a choice to be made between catastrophic collapse and gradual decline. Either way though the next ten years will be rough and at the end of that time the path will be much, much clearer. For those wishing to read ahead there's a nice 6 volume work which began to be published in 1776 which points the way forward.

[SqzMyLemon]

Interesting thread CR.

I live in Alberta. I work in the survey oil and gas industry and we've suffered a long two years of wage reductions, some staff losing their jobs and a transitory period trying to bring this company kicking and screaming into the 21st century. All that said, I still have a job, the bills get paid and I still get 3 weeks vacation a year. I have enough model kits to last me until the day I die, so other than a few less toys I'm surviving.

As anyone else, I'm looking to improve both my financial means and quality of life. I'm currently working on my resume to look for a new job. Life's too short. I hate my current job and despite tough economic times, it's time to take a chance and find what is best for me, work that I can be proud of and hopefully meet a great new group of people to restore my hope in humanity. [:D]

[pws1225]

As a professional economist, I would translate Nemo's words to mean 'we've screwed the pooch'.

[Chickenboy]

Back to the OP's very tightly crafted question:

In Minnesota, Dan-there are four levels of income. From low to high:

"We're getting by"
"We're doing alright"
"We're blessed"
"None of your beeswax"

Dan, we've been doing surprisingly well. Definitely in the 'beeswax' category. I almost feel guilty about our station in life sometimes. Our income has grown over the past three years and my wife, after leaving the University, has more lucrative work than she knows what to do with. It hasn't been without some heart wrenching decisions and a leap of faith into the unknown for her LLC.

I have some trepidations about retirement investments. On days like today, I just mumble 'dollar cost averaging, dollar cost averaging' to myself.

But on the big picture things, we're doing the right things-paying off debt and living well below our means.

I struggle with how much of this to expose our kids to-they're both still very young. We're providing a basic financial education to our 7YO son, instilling in him the basic tenets of saving, living below one's means, planning for the future, etc. We'll start our 4YO daughter on an allowance next year.

I've given up on feeling guilty about doing well. Both my wife and I made significant sacrifices in terms of our educational upbringing, moving to where the jobs are and never got involved with competing with the Joneses for the latest and greatest. We've been fortunate that fate has not interceded with health issues or job issues or whatnot-true. But I won't feel guilty about saying that times are more prosperous for us now than they ever have been.

[Nemo121]

Ah but those, here, who speak clearly are attacked and misrepresented. Better to rely on an obfuscatory argot to opacify the issue such that those who would create falseness out of veracity cannot sufficiently grasp what was said to vivify their various verisimilitudinous dissimulations.

[pws1225]

As a professional economist, I have no transaltion for Nemo's last.

But to get to Dan's original question, I may be in a unique position relative to the majority of the forumites here. I am 63 years old with my retirement plans pretty much made and done. My kids are educated and long gone. All my stuff is paid off and my retirement portfolio is sufficient to provide a comfortable retirement, if all my planning assumptions hold true. But that is a very big if indeed.

In two years time, like it or not, my career will end. I will be coasting on the momentum I have built up to now. However, as noted by Nemo, the coming 10 years or so will redefine how our country views itself and its obligations. Whether or not the momentum folks like me will be enough to transition into that new world remains to be seen.

Paul (the oldest codger on the forum)

[jeffk3510]

Things are fine here in Kansass. I run a commodity trading firm that stretches across the Midwest, and business is very good. Wife stays at home now with our boy. Haven't really seen the affects other than prices at the store and such... we're very well off I would say. Our farm will be down this year other than cattle.

Our biggest problem right now is the drought, as I work in agriculture...we have ZERO dryland crops to speak of in Kansas/Oklahoma/Texas. Irrigated is fine, but has some problems....that means less bushels for my company to handle = less profits... yadayada... Agriculture will always be strong in my opinion. I am here to stay. It has been good to my family over the generations, and continues to be good to me.

Cb here here on the dollar cost averaging...I smell buying opportunities if one can stomach it actually. I have invested heavily in companies that make the majority of there profits from interest. Their stock has falling off heavily the last few years as rates are at 0 right now and they rates will go up (were not going to borrow at these levels forever), meaning their profit, and stock, will jump. Opporunity of a lifetime if you ask me. I am only investing in ones with a strong field...ex - agriculture. Also look for solid areas such as real estate, people will always need a roof over their head. Maslows Hierarchy of Needs anyone? If you have some money set aside please don't put it in the stock market or earn .05% at the bank...by all means become a landlord.


I too no longer feel guilty about doing well...Were doing great financially, health wise, and emotionally. I couldn't love our current status any more. This comes after the 7 hardest months of my life living apart with the new job....See my wife and boy everyday for lunch, then at home around 5 515. Live an hour from her entire family and in the same town as my folks and grandparents. Things are going a lot better here than what it seems like in other places. For us that is. Always saying prayers and keeping others in mind during these times. I have family members that are in the other boat, and it does NOT sound fun. Always here to talk to anyone who has questions or just likes to vent. Thinking of everyone.

[witpqs]

ORIGINAL: pws1225

As a professional economist, I have no transaltion for Nemo's last.

He was merely alliterating.

[Cribtop]

Chickenboy,

I hear you. My personal job situation is ok but not great. However, my Dad and I run the Cribtop Family investment portfolio, which is definitely in "none of your beeswax" land. Hard to say much more without getting political, but from my experience the belief that the top is getting higher while the middle and lower class is getting squeezed seems accurate.

[Schanilec]

I've been getting in some more hours as of late. I'm still considered part time. No benefits, no vacation. I am getting by alright though. Just skimp a little here and a little there. Though my portfolio is in the tank. Down by at least 20% in the last several days. That is not helping any. Thanks be to God for farm rental income. That does help.
Looking to 2013 for any financial improvements to take hold.

[LST Express]

I'm 58 and the wife and I are doing fine right now. I worry more for the kids than us, our oldest boy is 24 and working and doing well on his own and the other is in college. I hope things will be as good for them in the future as it has been for us.  But to me, things in this country just don't feel right.  Unease is what I feel more than anything.

[Buck Beach]

ORIGINAL: Canoerebel

Gents,

Some of you guys have already participated in momentous events of historic signficiance - especially those of you who have served in the military.

Most of us are now living in historic times - the economic upheavals of the past several years or so. Without a doubt this is the greatest economic crisis in America since the 1970s, and arguably since the Great Depression. These are times we will tell our grandchildren about. These are conditions that will change the way we look at money and credit and employment, so that our habits will be much different than those of the preceeding generation, and undoubtedly much different than those who come of age when good times return (eventually).

It looks like we are going to be the observors and recorders (via email, letters, diaries, etc.) of an era most similar to the era of the Dust Bowl, bread lines, and Civilian Conservation Corps. In other words, we're participating in history being made.

I hope we can self-regulate and avoid injecting ANY politics into this discussion (we're all mature adults, after all, though we have a hard time controlling ourselves on occasion). But, if we can avoid what might be the inevitable, I am interested in hearing how you guys - my brethern of the forum - are enduring (or perhaps thriving?) these tough times. How goes it for you?

Sincerely,

Canoe "I wonder if we can keep politics out of this?" Rebel

So far day-to-day doing OK but, I am getting the crap kicked out of me with all my retirement funds being in the stock market. You know the old saying that you come in this world with nothing, well if this keeps up I will go out the same way. Hope there is some left to carry my wife through.

Buck