All over the world, there seems to be an economic crisis going on... Prices of merchandise are gradually increasing and employment seems to be harder. In the U.S., a lot of companies have announced bankruptcy and are now closing  like Mervyn's, Shoe Pavillion and Circuit City... A lot of people are losing their jobs! Other companies like Chrysler are announcing, they are suffering with problems as well... What are your views on these? What do you think will happen in the next few years?

jane_0126 says ...

All over the world, there seems to be an economic crisis going on... Prices of merchandise are gradually increasing and employment seems to be harder. In the U.S., a lot of companies have announced bankruptcy and are now closing  like Mervyn's, Shoe Pavillion and Circuit City... A lot of people are losing their jobs! Other companies like Chrysler are announcing, they are suffering with problems as well... What are your views on these? What do you think will happen in the next few years?

There's talk of an economic bail-out of the big 3 automakers. Reason for: consider the mass unemployent that would follow it the big 3 failed. reason against: average auto worker salary is $70+/  hour. Is someone going to bail YOU or your business out if you fail?  How about the auto companies learning to restructure  just like the airlines  did?  How about them learning to live within their means?

You and I have to live on a budget; isn't this true of the auto makers?

All we can do is PRAY!!!!  Prices are outrageous, but hopefully things will and can turn around for us.  One of these days, we may all be using candles instead of electricity!

The economy stinks.  I sure as heck hope they DONT bail out the auto industry.  The govt is writing blank checks with our money.  They were saying that for every one car that is produced by one of the big 3 auto makers a big fat part of it goes to the union for their crap whatever it is.    Wasn't there an unsolved crime about Jimmy Hoffa getting waxed a couple of decades ago?  That bailout, from what they were feeding the public was so people can stay in their homes.......at least in part.  Now they are giving bonus's to AIG big cats..........and no funding for the people who never qualified for those home loans in the first place.     They were using the poor people as bait to get that funding, now to heck with them.   Thank you Barney Frank, Nancy Pelosi, Harry Reid, and that Dodd jerk.  I'll go mix paint at Home Depot or screw caps on distributors before I ever join a union.  For those who are PRO union...........you can keep them; we dont want them down in Georgia. 

DHL is leaving their offices in the US..........and suddenly firing just under 10,000 people in Ohio.....and all in  pretty much the same community.......wait, wasn't that ACORN'S hangout a month or so ago?  Hmm, I'm thinking........sorry, I just cant remember.  I dont know if Nissan, Toyota, Volkswagon will be using unions for their auto workers........I'm interested in knowing this.  These plants are all in the south. 

That big global economy meeting has been going on with world leaders and I hear that they are all spouting about the 'Euro'.........no fricken way. 

angienwgeorgia says ...

JUDLEERN says ...

Especially if you live in LA... (The fires....) in case you don't watch the news...

yes, I hear Oprah's house went up in flames.  That is sad.

Yup! That's true! Several acres of land was caught in the fire... The last time I saw on television. Only one died...

JUDLEERN says ...

I do not think it is that simple. I think all us greedy Americans wanted SUV's, so they made them, then suddenly when gas goes up we don't know why they where making them to begin with. So now they have all these SUV's that no body wants...

I just find it odd that people think it is because of the wage someone is making. They have been making that wage for years and when the economy was good, no one said a word, now that the economy is bad, OH It is the wage they are making that is the problem.

I am not saying that this isn't a problem, believe me I am, I just think it is much bigger than that.  Like all the greedy ex's at AIG.... Because of them no one can get a loan for a car, unless you have fantastic credit, so no one is buying.

If the greedy banking Ex's had been regulated, then I really do not think we would be having this conversation... They are to blame in my opinion for the state of all failing business's....

Jude, any way you slice it, there's greed. Corporte greed, which also includes, IMHO, big labor for the auto industry. The greed in that industry is oozing at the seams, and a good example is the arrival in Washington to request a 2nd $25 billion dollars by the big three CEOs in charteree  corporate jets! My uncle worked for US Steel which sells steel to Detroit and WHAT A CAR HE DROVE! A gas, guzzling  HUGE car for one person. The renegotiation of union contracts could happen in a bankruptcy while cars are stil being made and the restructuring of the auto industry, to boot.

In the restructuring process, all golden parachutes should be eliminated, salary and hiring freezes initiated, bonuses stopped until the Federal government is paid back and CEO resignations requested. This is not intented to be punitive, but you and I live the same way. How many years have you seen Chrismas bonues?

The same thing should happen with any other company who says it's "too big to fail." The US government who is lending the $$ must have a say in how it is used and reviewing compensation packages; like in Citibank. Aren't the American people, all 303 million of us, TOO BIG TO FAIL also. Doesn't it make you cry to see an 80 yr old woman working with swollen ankles? It breaks my heart to see a 65 year old  man, who was going to retire,  need to work because of the economy; but then he can't find a  job that  he's not overqualified for, so he settles for a $7/hour job at Taco Bell.

I  used to be apprehensive about the economy the way it is, but the past few days, I'm getting downright scared.