Spook said: (quoted from post at 19:58:31 05/28/08) I really haven't been too concerned about the economy lately, but a couple of things are getting my attention:
Home values continue to slide. Double digit down.
Forclosures still going up.
Home equity loans are dissapearing. A lot of people relied on the "piggy bank" house.
Ford is cutting +12% salary guys. More plant closures and hourly layoffs. GM and Chrysler won't be far behind. Suppliers too.
Energy costs up.
Food costs up.
Wages down.
Unemployment up.
I am 53, and I have never seen it this bleak. Do you guys see any improvement soon?
In 1975 when I graduated from High school You could not get a job an McDonald's. I know I tried and was told that the only applications they were taking were from men with children. Shortly after Jimmy Carter had interest rates up to 18%+. This was after the oil embargo gas went fro $0.30 to $1 gallon in a few short months. Its been MUCH worse people are spoiled.
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