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 01-27-2008, 06:45 Post: 150782
earthwrks

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 Recession coming

I am in the Deroit area. We have been in a recession since 9-11. In my COUNTY alone THIS year there were over 14,000 bankruptcies. And it has been about the same number EVERY year for the past 4 years. I am one of them.

So to answer your question Frany, we would not know if we were in a recession because nothing would really change.

I do know that recession is a state of mind like KW eluded to. I am thinking of making a bumper sticker that I saw here in the 1980 recession that said: We have heard there is a recession. We have decided not to participate.

And this is what I tell my customers (who have income)--why wait to get something done--just DO IT!






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 01-27-2008, 07:19 Post: 150785
earthwrks

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 Recession coming

Frank I should have said that the 14,000 was filed this year--as of October. I was one that filed after October so the number likely climbed by another 3-5000. State-wide the number is something like 63,000.

And what I meant by we would not know if we in a recession was--unlike your economy--it could not, but probably will, get worse here.

Ford just announced another 14,000 in layoffs. That is like a entire town losing their jobs.

Also, a friend with his ear to the ground told me that the Chinese are staging to invade the tomato growing industry and supplant the Michigan growers. He said he was told that potentially that would put as many as 200,000 out of work. He said Michigan only but I am thinking perhaps nationwide.

Frank, a few months to sell a home, eh. Here it can be years and in some cases never. Foreclosures in Michigan are somewhere around 240,000.






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