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How is the economy where you are?

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Greetings from Las Vegas NV, USA - Ground Zero for the world economic Crisis!

Just wanted to take a quick look at other areas of the world and what your observations were on how your economy is doing.

Here is My Las Vegas report- Being this is where it all started-

right now we are looking at :

the Bad:

-unemployment soaring to 10% from 4%

-casinos having financial issues staying afloat

-home prices cut in half in under 2 years- leaving about 80% of the city -upside down with their mortgage loans.

-small buisness owners closing shop left and right

-people walking around like its Dawn of the Dead.

-tourism and airport traffic down big

the Good:

-home prices are cut in half

-gas is almost free

-first in the crisis is usually first out of the crisis.

-girls at the strip clubs desperate to make some extra cash fast!

Please share you local economies!

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The good:

I have taken income protection.

My house is worth what i paid for it.

My mortage is a lot less than my house is worth.

I don't have a credit card or store card of any description.

I can get a good meal and a couple of pints for under a tenner.

:)

The bad:

Have been on holiday for two weeks, will be happy when i'm back

at work tomorrow and find out how much we have got on for what

is normally a quiet time anyway.

I have felt the need for income protection.

My house is back to being worth what i paid for it.

My mortage is higher than i'd like.

My banks pester me to get a credit card.

I can't get a good meal and three pints for under a tenner.

:)

:(

Edited by Paul C

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Spending a bunch of time on the mainland, I've been clobbered royally. The collapse of the pound means everything costs half as much again as it did...and the wonderful UK governments reduction of interest rates has made my income drop to 1/3rd of what it was...and the house here is electrically heated, and it's -6 degC and my electricity meter is rotating like a catherine wheel. It's all pretty wonderful, really..oh yes, my annual boat mooring fee has gone up from 560 euros to 600, which should be about 7%...but the 560 was at 1.45 so that's


Scientists investigate that which already is; Engineers create that which has never been." - Albert Einstein

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THE GOOD,

I sell gas and it's -6

Gina works for the Dept of Work and Pensions so no shortage of work for her

the Esprit is paid for

neither house we own has a mortgage anywhere near its value.

Petrol is now 83.9 ppl.

THE BAD

Cant sell the second house or find anyone to rent it (cuz nobody can get credit)

My 06 Vectra is now worth 85p

When I come to replace my 06 Vectra later this year I probably wont be able to get credit even though I get an allowance from my company to buy a car.

the council are cutting services and putting up the council tax.

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from holland ( for you americans that's somewhere in europe) :(

in our country we pay allmost everything cash (so we save)

houses are a bit down but still worth a lot

cars are a lot down but i have sold all but the ones i need to ride in every day

unimployment is going up ( this is an opportunity to make better agreements with your employees)

i really think that in europe like in china and india we will be the first ones out

i have heard that there will be a big second cc coming for the states in 2012 because nobody is learning

new economy's : china, india and nigeria

rens

Edited by rens914

researche is something i do when i don't know what the hell i'm doing

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Some of us Americans are actually European transplants :(

We pay for everything with cash (eventually), but we borrow it from others.

Depends where you live if your house is going down or not, same as anywhere else in the world. It is only worth what someone lese is willing to pay for it.

Cars are down pretty much everywhere but as with houses it is an opportunity to buy so if you have the means which I did recently I took advantage of the economic problems to buy my Esprit.

Unemployment will go up everywhere and that includes the "New" economies, its just that they are better at hiding the inefficiencies and layoffs at the moment.

Who knows who will be the 1st ones out? The Japanese are still waiting nearly 15 years later for their economy to improve and they pay cash for a lot of things.

The world ends in 2012 so who cares anyway. Isn't this the 3rd time in my lifetime everything was supposed to end??

Anyway I think the media is driving a lot of this crisis and even though bankers created this mess we are deeper in it due to the media, regardless of where in the world you live and yes I lived in the Netherlands for a while so I know where it is.

Rant over, back to normal programming.


Heaven is where the police are British, the chefs Italian, the mechanics German, the lovers French and it is all organized by the Swiss. Hell is where the police are German, the chefs British, the mechanics French, the lovers Swiss and it is all organized by the Italians.

You make something idiotproof, they'll make a better idiot

You think professional is expensive, just wait until you pay for amateur.

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Just last month I was down at my sailboat in San Diego when I met a cool couple from Holland temporarily berthed a couple boats over from me , who were taking two years off to do a half a circum nav(I am jealous).

We got into the same discussion. He was saying that he owned two houses and that the prices shot up incredibly last few years back in the Netherlands.

As the discussion got further along- I realized that he was probably 1.5 yrs behind us (ground zero- Vegas, Cali, Arizona and Fla). So I kind of told him he might not be happy when he got back from his voyage when he finds out that his home will be worth what it was in 2000-2002 range(inevitable). He just shrugged it off.

my buddies back in NJ in the states are even 1 yr exactly still behind us in Vegas. They are going through now what I did last year at this time.

Only time will tell. Pretty amazing though that this is totally Global.

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The Good:

Austin's home values have actually gone up slightly for 2008, even as most of the rest of the country "tanks."

No mortgage, no car payments.

The dogs are a source of endless amusement, and neither has figured out how to use a credit card.

The Bad:

Being retired = investment income only.

Investment income? What investment income?

Older son still has obscene tuition to be paid for his final semester at private college in California.

Younger son has obscene tuition to be paid at private college prep school.

"High maintenance" SO hasn't figured out yet that her spouse is now retired.

The Ugly:

The IRA (retirement) account has lost a cosmically stupendous amount of value.

"High maintenance" SO hasn't figured out yet that her spouse is now retired.

("Oh hi, honey! Me? Oh, nothing much, just catching up with my fellow forum members. No, no. Everything's fine, dear." :( )


Being second is to be the first of the ones who lose.

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John,

Ah the SO who does not pay the bills, sounds familiar!

I have one payed for and out in the working world but I'm worried for her. The other is still 2.5 years away from college but with everything tanking he may be partially student loaning it.

Hopefully (I doubt it) a better year this year!


Heaven is where the police are British, the chefs Italian, the mechanics German, the lovers French and it is all organized by the Swiss. Hell is where the police are German, the chefs British, the mechanics French, the lovers Swiss and it is all organized by the Italians.

You make something idiotproof, they'll make a better idiot

You think professional is expensive, just wait until you pay for amateur.

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The Good:

House still worth 4x my mortgage size

Mortgage payments down by


Possibly save your life. Check out this website.
http://everyman-campaign.org/

 

Distributor for 'Every Male' grooming products. (Discounts for any TLF members hairier than I am!)

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I have to defend the gas companies a little here. The Nat gas companies did exactly what we in the LPG industry did in July and forward bought till the end of March 09, fearing further rises in the cost of oil and gas (remember the "$200 a barrel by the end of the year" fears) so we are still buying at last Julys prices!!! If the prices had continued to rise we would have all been hero's for fixing the price. Just gambling on a grand scale really. We are now trying to secure gas at the new very low price but problem now is no bank will back us to forward buy.

It's really simple this wont end until the banks are forced to lend to people. I have a really nice three bed terrace for sale at only

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The state of Arizona is making useless gestures at generating revenue from fines due to the shape of a license plate 'frame' to the order of five times that given for not wearing a seat belt. Speed cameras here are out of control as well. I'm beginning to understand what it must be like in a police state.

Most all that has been said previous is true as well, the mortgage situation is quite desperate as are the business closures and subsequently job losses. I've heard not to expect any recovery in 2009......

Edited by Rodewaryer

Mel Gibson only acted the part

Lotus Factory visit 1979

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Oil is $40 a barrel, that means petrol should be free :(

http://news.bbc.co.uk/1/hi/business/7810886.stm


88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

Evora NA

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forward bought till the end of March 09, fearing further rises in the cost of oil and gas (remember the "$200 a barrel by the end of the year" fears) so we are still buying at last Julys prices!!!

Not being rude or anything but does that mean you're not allowed to lose money because of a poor business model? IMHO by fixing prices for so long, the industry has made a rod for it's own back and should suffer the consequences the same way the motor industry is for their poor planning. Times have to change and businesses that do what they have always done will go bust.

I think it's high time the govt forced the issue. What will the utility companies say in March? "Prices have gone back up again so we're leaving them at current levels. Call me cynical.


Possibly save your life. Check out this website.
http://everyman-campaign.org/

 

Distributor for 'Every Male' grooming products. (Discounts for any TLF members hairier than I am!)

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What will the utility companies say in March? "Prices have gone back up again so we're leaving them at current levels. Call me cynical.

something like that, yeah

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The Bad:

In Minnesota the unemployment rate is somewhere around 6.5, the highest in 25 years.

Home prices have fallen to 2004 levels which is about 20% or a tad more.

My house is about even with mortgage or just a tad upside down. Second property is a 2 bedroom flat which is paid off in 4 years. Sold the hobby cars off a few years ago so only have daily drivers. Worked 2-3 days in the last 3 weeks and have been using vacation time during the normally slow seasonal period so don't know what it will be like after I run out of vaction time.

The Good:

Gas prices are $1.65/gal. Was 10 cents less before the Hamas/Israel conflict.

1 child in university under 90% academic/athletic scholarship.

Otherwise just getting by trying to weather the storm.

Edited by CNH

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in my opinion we will all get out of this mess when the industrie does not get a helping hand from the government

we are having these problems by giving to risky credits (banks), by not changing the products they produce (car manufacturers), a bad attitude concerning buying on credit

whithout help there will be al lot of pain but helping sick company's will yust extend them beiing to be able to go on ????? and will not force hem to innovate

the rest of the world is drown into this CC because of the credit attitude of the states ( towards everything)

Bush has to go in history books as the worst president ever.

he killed a lot lot of people worldwide, is responsible for what happend at 9/11 and what is happening now

I know these are hard words but this is what a mayor part of the rest of the world thinks about it

btw

a lot of people lost there lives at 9/11 wich is very sad and to bring hem back i wouldnt mind to spend the


researche is something i do when i don't know what the hell i'm doing

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Rens, old chap, I fail to see how you can hold the President of the United States responsible for the actions of terrorists murdering thousands? One could hold him responsible for what has happened afterwards, perhaps..but I see no link between Bush and the attack on the twin towers. It is perhaps worth mentioning that - without the attack - there would have been no invasion of Iraq, no military action in Afghanistan, and we'd all be rather better off. The problem with the "War on Terror" is there are no definable enemies to attack...so they rounded up the usual suspects and had a go at them.


Scientists investigate that which already is; Engineers create that which has never been." - Albert Einstein

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""However, it warned that falling oil prices would have a negative impact on North Sea oil revenues and government spending power. ""

Thats all right Brown will borrow........ Paid for by a Toes tax......

I am off to drop something heavy on my feet at work, sue the boss, then laugh when tax man realises I have no toes......

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Does that mean that they'll stop spending


88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

Evora NA

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No, no, no, no, no, no!!

the Government have to Spend, Spend, Spend according to their best minds (pfeh, that says alot right there). Didn't you know Bibbo, that when you are short of money and times are hard you have to spend your way out of it!! :ice:

Of course anyone except them can see what a bunch of knobs they're being!


Possibly save your life. Check out this website.
http://everyman-campaign.org/

 

Distributor for 'Every Male' grooming products. (Discounts for any TLF members hairier than I am!)

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Why we americans worry so much about the economy what have you done with the money, I came from the devils Island from the hands of Fidel Castros Hands went I realize I had freedon my money was my god respect your money and it will respect you back.

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the Government have to Spend, Spend, Spend

And I read today that the Government is thinking of printing money now, so they can spend even more. All their attempts at saving the economy have failed.

So we'll be following Zimbabawe's fiscal policy then. Printing money lead to Argentina's hyper-inflation in the 1970s and Germany's inflation in the 1920's.

If they start printing money, this Country's economy will go down the . . .

phoneInTheToilet.jpg

Edited by Mark Blanchard

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