America's Financial Situation

music wasn't part of me · Posted: Sun Feb 03, 2008 1:59 am Post subject: America's Financial Situation

Hello everyone, I've been watching this America's so-called-financial crisis news, I understand the Fed just made 2 big cuts, ended in 3% rate. The decision,as predicted, caused a great Hotmoney inflow to many developing countries, like mine, resulting the Indonesian Rupiah to gain stronger bec foreign investors who manage assets in US$ are switching to other currencies, in short , A Sell-off.

This situation is not good for either country, stronger currency doesn't always mean good signal. well, i just wanna ask you friends, since most of you are living there, do you feel any changes in the day-to-day life?
Bec all that theories always come down to our daily groceries, wages, jobs, creditcard bills, etc

well, That's only the financial side of me, I pray for America and for the coming election. Though many people in my country critize USA's policies, I believe they're only victims of misleading interpretation, things are not what they seem to be. I know God has done so many things through America.

George E · Posted: Sun Feb 03, 2008 5:37 am Post subject:

In economic terms, a recession is when the guy across the street loses his job, a depression is when you lose your own job. Considering how many millions of us there are in the US, and how much terrain our nation covers, there are regions that are hard-hit by the economic situation, and other regions that are doing quite well. There are some industries who are doing much better because of the economy, and others that are doing much worse. All in all, if our news media didn't take such delight in reporting bad news when a Republican is President, and such reluctance to report bad news when a Democrat is in charge, most of us wouldn't even be aware of the overall state of the economy.

In my state, Pennsylvania, the current Governor's appointees awarded a major government service contract to our main competitor, which means I'll be out of work again sometime next year. Had the candidate from the other party won the election, the company I work for probably would have won the contract bid. But, that's bad news for me, and good news for someone who'll get the same job for the new company, so it all balances out.

markm2553 · Posted: Tue Feb 05, 2008 4:23 am Post subject:

George, sorry to hear about your job outlook, but as you well know many things can change by that time. And of course God is still in control.

My company has a big push on new products, we plan to bring two new products online this year. I am working on the R&D and production process for both, so we are looking to a brighter furture.

I was on the phone to a friend yesterday that is a brick layer, the struggling housing market is killing him, he has not really worked in two months. He is looking for a new line of work.

George hit it on the head when he said America is so diverse, some parts will always do better than others. High oil prices are killing the shipping buisness, but I'm sure it is a boom to Texas that was hit so hard in the past by cheap oil.

The people I know that are out of work are normally out of work this time of year anyway, seasonal construction jobs.

Trust in God.