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PeakOil is You

Has the crisis affected you?

Discussions about the economic and financial ramifications of PEAK OIL

Re: Has the crisis affected you?

Unread postby jlw61 » Thu 04 Dec 2008, 13:00:10

So far we've no immediate indication of any job problems. My wife and I are both in health care industry. Both of our companies are still growing, hers rapidly, mine moderately... certain industries improve in a downturn.

Our neighbors are all employed, though a few have lost their ability to get overtime. I hear of "friends of firends" losing their jobs, but my immediate circle are still employed.

My 401k is about half of what it was last year but I have 25 years before I plan on retiring, if ever. Either it will improve or die over the next couple of years and I've always considered it as one of many gambles. Some will work out, some will not. I'm glad I cashed out some of the riskier bets last summer and put it into preps; for that insight I have PeakOil.com to thank.
When somebody makes a statement you don't understand, don't tell him he's crazy. Ask him what he means. -- Otto Harkaman, Space Viking
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Re: Has the crisis affected you?

Unread postby RedStateGreen » Thu 04 Dec 2008, 13:00:36

Oh, yeah, I lost a couple thousand on my 401k (which was only 18k) before I pulled it out. I forgot about that. :(
$this->bbcode_second_pass_quote('efarmer', '&')quot;Taste the sizzling fury of fajita skillet death you marauding zombie goon!"

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Re: Has the crisis affected you?

Unread postby vision-master » Thu 04 Dec 2008, 13:09:50

4.8 Billion dollar short fall (two year projection) starting next summer for Minnesota.
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Re: Has the crisis affected you?

Unread postby coyote » Thu 04 Dec 2008, 13:35:01

Not on the job front. In hard times people go back to school - so I should be okay as long as Sallie Mae keeps handing out school loans. If they go under, then I'm in trouble. I've spent some time making myself valuable to several different departments, and I'm currently making a move to teach online classes as well, to make myself still more flexible. I'll think I'll weather this okay if it doesn't get too bad. Lost a bit in stocks but that's it so far.

Check out these guys for remaining apart from it all:

Secluded Indonesian Tribe Unaffected By Global Crisis
$this->bbcode_second_pass_quote('', 'A')n animistic tribe dwelling high in the abundant hills of western Java lives oblivious to the world economic crisis. Estimated to include somewhere between 5,000-8,000 people, the Baduy are an anomaly. While their tribal lands are located only 75 miles from the Indonesian capital of Jakarta, the Baduy live in almost total seclusion from the modern world, observing customs that forbid soap, wearing shoes and driving vehicles.

Villagers stare blankly when asked about world events.

"I don't understand about any crisis," a young mother named Salina told Reuters, when asked about the economic turmoil that has caused the rupiah to lose nearly a quarter of its value this year.

Localism - is insulation. But I think I'd have to insist on soap. Personally. 8O
Lord, here comes the flood
We'll say goodbye to flesh and blood
If again the seas are silent in any still alive
It'll be those who gave their island to survive...
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Re: Has the crisis affected you?

Unread postby IgnoranceIsBliss » Thu 04 Dec 2008, 15:44:18

As a snapshot, we are better now than anytime in the past 2.5 years, due to the spring stimulus and cashing out my husband's annuity. (what a poor investment that was & he no longer works for that employer)

Since I'm a stay at home mom, we rely on one income, which is kind of scary. But our house is half paid off and both cars are paid for. My husband's teaching job seems to be secure at first glance, because his position is mandated by federal law. There is also a part-time person who helps him (due to limits on the # of students per teacher [limits were recently raised]). So hopefully the part- time position would be cut first and he would just face even higher numbers.

I'm getting worried about the status of school funding as I see the writing on the wall here. The day that the school day or week is drastically cut is the day I know that TSHHTF. Our local school board has drafted a plan for several tiers of cuts going into 2010 and pretty quickly it gets to "reduction of school personnel". But there is also a class size amendment in our state constitution that would have to be repealed if they get to the point of packing 35-40 kids in a classroom (elementary).

I also don't have any relatives or friends who have lost jobs yet, but my brother's job is not looking good. They just lost a $2 million contract, so he has no work right now. If they don't get something soon, that will be it. (and they are soliciting state and local gov't for the projects) I guess he could take his geology degree and try to get work in the energy field. My sister-in-law's job is also looking shaky as she works in public mental health for state of Pennsylvania and they are expecting massive cuts. So I would say going into 2009, I will begin to see family members lose jobs.
[Of course, we just found out that this same sister in law just bought not one but two new cars! One is a "commuter car". I don't know what they are thinking. I have a very real fear that they will lose their condo because her husband doesn't make much money at all and they have a 4 year old]

My aunt and uncle are affected because they want to sell their house in south FL but of course are not able to. My uncle is in very bad health and their son is deploying to Iraq again. They want to move closer to either my parents or their son's wife. (alone in Arizona) Also, my friend from college is being foreclosed on because she and her husband are unable to sell their home in FL. They (very foolishly) bought a bigger home before their original home sold, and have been paying for both for awhile now. So they are moving back into the smaller house and letting the new one go back to the bank.
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Re: Has the crisis affected you?

Unread postby Roy » Thu 04 Dec 2008, 17:31:17

My company has been hemorrhaging money since July. But through aggressive budget cuts and fortunate financing arrangements we look to be solid through the spring.

All executive staff took a 20% pay cut in July as well. 10% was given back last month, and today we had a meeting and the CEO announced we were getting the remaining 10% back because we had beat our budget projections so soundly. Yay!

Many other manufacturing jobs within a 60 mile radius have gone away in the last two months. Several large companies have just shut down their local facilities. 1000+ in an area not that densely populated is significant.

My sis-in-law (main breadwinner in that family) in NH lost her job at a major retailer just yesterday. She was working at the corporate headquarters as their e-commerce something or other. Her position was eliminated. I was really surprised by that because I believed that e-commerce jobs would stick around longer than brick and mortar jobs with that firm. My BIL, SILm, and two nephews live in a very high cost area and we're worried about them.

Both of my wife's best friends' spouses have been laid off here in the last month so those families are sh*tting bricks right now.

This slow crash is for the birds. I'm actually better prepared for the fast variety than the slow, grinding, under-employed, not making house payments, losing everything a little at a time crash we're experiencing now.
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Re: Has the crisis affected you?

Unread postby Hermes » Thu 04 Dec 2008, 18:31:57

I've never had so much work to do, nor made so much money than right now.

... at the same time that's not saying too very much, as I lived right around the poverty line for some portion of my life...

I work as a web programmer, and business is just crazy right now. I am turning away jobs every few weeks, because I don't have the time.

We are busily turning the money into real goods as fast as we can, because we KNOW this won't last. Every month I keep expecting the work to dry up, or clients to say they can't pay me... but so far the checks have always rolled in when they're invoiced, and the jobs just keep rolling in.

We're bracing for the storm though. Shortly I'll be a professional goat and chickenherd. I hope to be equally busy doing that.
Space Ghost: Oh boy, the Shatner's really hit the fan now. I'm up Dawson's Creek without a paddle.
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Re: Has the crisis affected you?

Unread postby Sixstrings » Thu 04 Dec 2008, 22:07:51

So far, I've only benefited from the deflation. Lower gas prices for one. And some very little things like $4 specials at Steak & Shake.. I like that restaurant, but I'm cheap and they used to be on the pricey side for fast food. So I like the specials. ;)

I have a friend who delivers chinese for a living. Doesn't sound like much of a job, but he's actually made good money at it for about 5 years now. He works downtown and delivers big orders to hospitals, various businesses mostly -- so big orders mean good tips.

So anyway, business dropped off out of nowhere about 3 months ago and hasn't recovered. They've cut his hours in half, and he's looking for other work. He's a vet and tried the post office, but they're not hiring now. His main complaint is that he has the most seniority, but his the Chinese owners are giving all the work to the Chinese employees first -- even though the Chinese delivery guys have been with them less time. Sort of ironic, he's outsourced in his own country.
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