Our Economy..does it affect you?

[Hara_Juku Tgirl]

:?

~Kisses.

HTG

[Tomfurbs]

Hell yes. Thanks to all our idiot UK banks (I work for a bank, so I can say this) investing in your housing market the UK is officially in a bear market and recession. Which means:

Our spending goes down = everything from cigarettes to bread to holidays to services gets more expensive.

House prices fall = homeowners get into negative equity = families have less to leave their children and make less money as they move up the property ladder. (Upside of this is rent goes down...in theory)

Getting a mortgage, loan, credit card will be that much more difficult. Halifax and many others have all but shut down their lending dept and is retraining its staff into debt management.


And the greatest irony of all: These banks create the problem by encouraging people to borrow much more than they can afford, creating an unsustainable bubble, and then, when the bottom falls out, aggressively claiming back their money, leaving their 'customer's' with bad credit records and lives fucked up by worry and debt collectors.

And then these CEO clowns give themselves whopping great bonuses. All in a days work for them. Most are on a '4x4' salary (£400,000 with a £400,000 christmas bonus) anyway and will never feel the pinch of the disaster they have created.

[Justawannabe]

No due to the way I'm invested it takes some very big changes to hurt my daily living much.

One reason I don't think much was done as this developed, even if the bubble burst, the folks who were rich already were going to be fine, it was the folks who were working up from the bottom and the folks just living paycheck to paycheck who would get smacked.

Heard more than one guy say that everyone should have known better than to over extend.

I was in Australia when the bubble first burst... hit them like a hammer in currency value... scary.

Sean

[hwbs]

hell yeah !!!!!!

[blckhaze]

cost of living has increased greatly where the minimum wage has raised slowly.
It affects anyone who didnt invest in oil or technology before 2000.

[BeardedOne]

I'm in an odd position. Perfect credit, good income, but lousy long-term payment issues due to a death in the family (2005) and subsequent bumps.

If not for the 'credit crisis' (Caused by others) I wouldn't have a problem. But my balances rose, causing my rates to increase, doubling and tripling my payments, etc.

The only upside is that I live in Delawhere and all of those finance charge profits will be subject to the state's 2% franchise tax.

FUCK YOU, J.P. MORGAN/CHASE!

Smarmy bastiches! :x

[tommymageeshemales2]

Are there any NASDAQ or FTSE listed stocks which have much exposure (pardon the expression) to the adult industry? Excuse the naiveity, but this is probably the best place to ask.

[iloveshemales77]

Been here b4 in the late 80s and early 90s. What amazes me is the collective amnesia of people regarding the markets (the housing mkt. in particular). I remember shelling out over half my monthly salary in mortgage payments and being in negative equity on my 1 bedder closet in Chelsea. And, I was making good money at the time as a bond trader. The market eventually bailed me out in the late 90s. But I swore then NEVER to over borrow again. It very nearly all went horribly wrong when I lost my job in the bond market crash of 1994.

[dgtlmstry]

According to my family back in NYC and MIA they are feeling the pinch especially at the pump and grocery stores...personally, I have not felt a thing in my neck of the woods. Too bad for the folks back there in the US of A...and apparently in the UK as well *rolling eyes*

[iloveshemales77]

According to my family back in NYC and MIA they are feeling the pinch especially at the pump and grocery stores...personally, I have not felt a thing in my neck of the woods. Too bad for the folks back there in the US of A...and apparently in the UK as well *rolling eyes*

It's only just beginning in Germany. They're usually a year or two behind the curve.

[dgtlmstry]

Right. Thanks for that insight and good luck to you.

[hondarobot]

Not as badly as most people. I've recently gained the ability to visit strip clubs for free, get a literal free lunch at times, and light/sound equipment vendors buy me beers at fancy clubs on rare occasions. No disrespect to the majority of people feeling the pinch right now, but I'm lucky and doing alright at the moment. I'm certainly not getting rich, though.

[kilrjo]

I'm doing MUCH better now than 4 years ago, and I'm retired! Obama will only raise taxes and put me in the poor house with his brother!!!

[ARMANIXXX]

Yes.


Higher gas, higher food, higher everything, and everybody's whispering layoffs.

[EyeCumInPiece]

i made more money when i was 18 than i do now...so the answer is YES!

[Paladin]

You bet your ass it does! It's a good thing i'm getting deployed again, no gas, auto, food or electricity costs. Of course my wife will be running the shower, leaving the pool deck door open, driving her family all over creation and buying the most expensive version of any food available, so i hope i don't get more broke next year. :twisted:

[onthefence]

I'm in the eye of the storm - NYC and banking. I've had good years - so I can weather a few bad - but it hit me big time. The bad news is that there is no good news to change things. What I (close to investment banking) feel now - most will feel in 6 to 12 months unless something major changes. The election is not the big news anymore.

[iloveshemales77]

Right. Thanks for that insight and good luck to you. he wrote in August

You're welcome! Beginning to get the picture now?

[nox_eternus]

Being a student, the recession hasn't hit me too hard (yet). Even though I'm close to graduation, I plan on going to graduate school of some sort...so hopefully that can weather the storm. Otherwise, I'll be graduating into a shitty economic climate and job market. Awesome...

[CaptBilly]

The Economy forced me to join the military! I graduated college with a degree in aeronautics and could not land a job anywhere with an airline!

So now, I fly for uncle sam and live for free and can't afford a thing. Now I'm praying for the day I can get out of here and make a big paycheck with the airlines (if they survive)

[Shining Star]

So far so good, nothing out of the ordinary to report. Prices and costs are going up, OTHO so has my income (for now), so things aren't that bad, yet.

Our company mainly deals with persons in the very high end bracket, times would have to turn VERY bad for these people to hurt. After all when one has made several millions or hundreds of millions over the past years, one or two bad years doesn't make a huge dent.

OTHO, NYC living isn't cheap and there are people hurting. The few "working" girls one knows report things are slacking off, and the holiday season bounce in dates isn't what it was in past years.

Adding to this Europe's financial mess means those European men aren't flocking to NYC, spending mad money because the exchange rate meant $500 was something like 200 Euros. Add to this, men from Europe and other places visiting NYC have "discovered" CL, and seem to be trying their luck there, rather than booking an escort.


More pain is coming for all NYC residents, as when ever the City needs money, it turns to all types of law and other enforcement actions to generate income. This means fines, parking tickets, and the like.

LE was already cracking the whip on prossies, but with the City looking for funds, from what one hears, busts are up, not down. In an odd sort of way bad financial times send cops out to generate income for the City ( and themselves). Arrests not only create fees (from fines), but LE can make good overtime staying around while the busts are processed.

[Tranny Chaser]

As a worker for the county of LA's Department Of Public Social Services, yes....the economy has effected my job. It means more people applying for medical, finacial aid and/or Food Stamps.

[PatrickFromNYC]

Well I will get ZERO for my year end bonus this year as compared to 171K in 06 and 119K in 07. It definately will impact what I spend. In 06 I bought my parents, bro and sis in law, sis and bro in law plasma TV's for Christmas. I spent over 10K that year...This year I plan to spend 20% of that total.

Many NYker's will be making much less then they did in 06 and 07 and it will definately impact the NYC and US economy.

In my job as a Director of Sales I see huge cutbacks in spending also. My travel and entertainmant budget in 09 has been cut in half. That means fewer dinners with my clients, Yankee and Mets season tickets are cut in half and much less business travel, The funny thing is that my company will actually make a small profit in 08. The main reason for the major cutbacks is because our company economist's predict that in 09 things will get much much worst.

[Odelay]

I work in the IT consulting world and just about everyone I know, both in IT and outside of it are nervous. The notes above about year end bonuses being zero and huge expenditure cuts across the company also apply to me and where I am working. There will be a whole lot more virtual travel than real travel in 2009.

By the way, Hara Juku, this was quite prescient of you to start this thread back in late August before the very worst of it hit in mid-Sept. I think you must have some influential "boyfriends" whispering things in your ear. :lol:

[PatrickFromNYC]

I work in the IT consulting world and just about everyone I know, both in IT and outside of it are nervous. The notes above about year end bonuses being zero and huge expenditure cuts across the company also apply to me and where I am working. There will be a whole lot more virtual travel than real travel in 2009.

By the way, Hara Juku, this was quite prescient of you to start this thread back in late August before the very worst of it hit in mid-Sept. I think you must have some influential "boyfriends" whispering things in your ear. :lol:

Odelay...I totally agree, Hara was way ahead of the worldwide media on this issue

[Hara_Juku Tgirl]

I work in the IT consulting world and just about everyone I know, both in IT and outside of it are nervous. The notes above about year end bonuses being zero and huge expenditure cuts across the company also apply to me and where I am working. There will be a whole lot more virtual travel than real travel in 2009.

By the way, Hara Juku, this was quite prescient of you to start this thread back in late August before the very worst of it hit in mid-Sept. I think you must have some influential "boyfriends" whispering things in your ear. :lol:

:lol: Thanks! ;)

~Kisses.

HTG

[CORVETTEDUDE]

I would say that if it doesn't affect you, whether here in the states or abroad, you are part of the problem.

[blckhaze]

I would say that if it doesn't affect you, whether here in the states or abroad, you are part of the problem.


Quite true.
Other than the poor-into-rich (like high paid athletes & musicians), no one is spending.

The poor aren't spending cause they dont have it, and the wealthy aren't because theyve built the habit of penny pinching, so past a few luxuries here and there, they hoard.

[OEMEnemyNum1]

It actually helped me out a little bit. Though there has been layoffs in my company, I was in a position to pick up slack. I took a little external consulting on from that, and it seems consulting in general has improved. So as a result, I'm still paid the same at my regular job, but my personal business has gained ground.

The price of gas and airlines has been a benefit also. Able to conduct business more cheaply. If theres a benefit to being out in BFE this is it.

[OEMEnemyNum1]

I would say that if it doesn't affect you, whether here in the states or abroad, you are part of the problem.

Lol, thats probably true for most regions. But oddly enough, housing hasn't even been affected in my area. If seems the poor rural potato farming areas were already depressed. We're just used to it.

[PatrickFromNYC]

I work in the IT consulting world and just about everyone I know, both in IT and outside of it are nervous. The notes above about year end bonuses being zero and huge expenditure cuts across the company also apply to me and where I am working. There will be a whole lot more virtual travel than real travel in 2009.

By the way, Hara Juku, this was quite prescient of you to start this thread back in late August before the very worst of it hit in mid-Sept. I think you must have some influential "boyfriends" whispering things in your ear. :lol:

Odelay...I totally agree, Hara was way ahead of the worldwide media on this issue


Odelay...As far as the impact of IT consulting I actually think these business will prosper in the bad economy. The layoffs in many companies in large part have been in areas like marketing and IT departments. Companies will cut back on internal support in IT and marketing and reply on vendors.

[Shining Star]

"The rich aren't spending".

Well that depends on where one lives and how one defines "rich".

There is a vast differnce between someone who has raked in tens if not hundreds of millions over the past few years, versus a junior Wall St employee that may have gotten several million, but living in NYC and it's better areas, a million or two does not go very far.

Now if one had that kind of money and lived in say North Carolina or Atlanta, then you could be set for life.

As for the rich "not" spending, that is not true. Many aren't showing off their spending out of consideration for the many who have lost their jobs and fortunes in the recent financial market mess. After all it does not do to continue with renovations costing 10 million or so dollars to your Park Avenue co-op, when friends and neighboors are out of work. It is just crass.

Whenever times get "bad", the wealthy have their own way of spending, buying things that cost a fortune, but only those in the know, know what time it is.

Many wealthy aren't showing off their wealth as this current "Obama-age", as the Democrats and everyone else who does not have, thinking it is time to "take back" what they consider ill gotten gains. To wit all the noise about "excessive" wages and such for financial workers.

Problem is, attacking the wealthy and their spending habits is really counter productive. If those with soild money and credit do not shop, stores, businesses and the rest have less money coming in, which in turn will lead them to cut back or close all together.

[Odelay]

I work in the IT consulting world and just about everyone I know, both in IT and outside of it are nervous. The notes above about year end bonuses being zero and huge expenditure cuts across the company also apply to me and where I am working. There will be a whole lot more virtual travel than real travel in 2009.

By the way, Hara Juku, this was quite prescient of you to start this thread back in late August before the very worst of it hit in mid-Sept. I think you must have some influential "boyfriends" whispering things in your ear. :lol:

Odelay...I totally agree, Hara was way ahead of the worldwide media on this issue


Odelay...As far as the impact of IT consulting I actually think these business will prosper in the bad economy. The layoffs in many companies in large part have been in areas like marketing and IT departments. Companies will cut back on internal support in IT and marketing and reply on vendors.

Well, right now, what I see are organizations holding their breath as they lay off people, in IT and other departments. They don't exactly want to start up an external million dollar IT contract when they just internally laid off 3,000 employees. So the next 6 months are going to be super slow, no matter what. Hopefully decision makers exhale in the latter part of 2009.

All consultants, IT or otherwise, will have to get creative on new markets to counter-balance the death of sales in the banking and finance industries. It'll be years before the financial sector rebounds.

[PatrickFromNYC]

I work in the IT consulting world and just about everyone I know, both in IT and outside of it are nervous. The notes above about year end bonuses being zero and huge expenditure cuts across the company also apply to me and where I am working. There will be a whole lot more virtual travel than real travel in 2009.

By the way, Hara Juku, this was quite prescient of you to start this thread back in late August before the very worst of it hit in mid-Sept. I think you must have some influential "boyfriends" whispering things in your ear. :lol:

Odelay...I totally agree, Hara was way ahead of the worldwide media on this issue



Odelay...As far as the impact of IT consulting I actually think these business will prosper in the bad economy. The layoffs in many companies in large part have been in areas like marketing and IT departments. Companies will cut back on internal support in IT and marketing and reply on vendors.

Well, right now, what I see are organizations holding their breath as they lay off people, in IT and other departments. They don't exactly want to start up an external million dollar IT contract when they just internally laid off 3,000 employees. So the next 6 months are going to be super slow, no matter what. Hopefully decision makers exhale in the latter part of 2009.

All consultants, IT or otherwise, will have to get creative on new markets to counter-balance the death of sales in the banking and finance industries. It'll be years before the financial sector rebounds.

Companies will also get creative with IT, Marketing contracts with goals and incentives driving the business.

[rico87]

This has been my worst year in over 20 years working in the Financial markets but we will get through these sad times. Feel bad for those who lost their retirement savings and will never make it back. Trying to stay positive , but been beating myself up on why I got my degree in Finance instead of studying medicine.....

Lets hope for a Good 2009 and get Bush the Fuck out of the White House.

[TsVanessa69]

I noticed a big drop in the number of clients and the girls who have no other income are in bad shape. I even noticed in my trip to NYC this week, a big drop in business.

[rico87]

Are there any NASDAQ or FTSE listed stocks which have much exposure (pardon the expression) to the adult industry? Excuse the naiveity, but this is probably the best place to ask.

Rick's Cabaret International. The symbol is RICK on the nasdaq stock is trading at 4 down from 29 but they are still bringing the cash, strippers still cleaning up.


owns and operates, or licenses adult nightclubs in Houston, Austin, San Antonio, Texas, Minneapolis, Minnesota, New York, Fort Worth, Charlotte, and other cities under the names Rick's Cabaret, XTC, and Club Onyx. Ricks Cabaret International also owns and operates adult entertainment Internet Web sites, including xxxPassword.com that features adult content; CouplesTouch.com, a personals site for those in the swinging lifestyle; and NaughtyBids.com, an online adult auction site that contains consumer-initiated auctions for items, such as adult videos, apparel, photo sets, adult paraphernalia, and other erotica. As of September 30, 2007, it operated 15 adult nightclubs. Ricks Cabaret International was founded in 1982 and is based in Houston, Texas.

[Hara_Juku Tgirl]

As a worker for the county of LA's Department Of Public Social Services, yes....the economy has effected my job. It means more people applying for medical, finacial aid and/or Food Stamps.

And soon, because California as a whole has big budget deficit money is going to run out to help people. Then comes higher taxes!

~Kisses.

HTG

[ef9hatchman]

As a worker for the county of LA's Department Of Public Social Services, yes....the economy has effected my job. It means more people applying for medical, finacial aid and/or Food Stamps.

And soon, because California as a whole has big budget deficit money is going to run out to help people. Then comes higher taxes!

~Kisses.

HTG
Time to move to Oregon. Lol. Sales tax my arse.

[Hara_Juku Tgirl]

lol What's a girl to do out in Oregon? I thought you live in Cali? :lol: ;)

~Kisses.

HTG

[ef9hatchman]

lol What's a girl to do out in Oregon? I thought you live in Cali? :lol: ;)

~Kisses.

HTG
(late reply)
I do live in Socal doesnt mean I dont travel 0_0
Oregon to my knowledge has no sales tax meaning if you buy a sony PS3 for 499.99 thats what you pay. I know Socal bestbuys sales tax is 7.750 so about 39 more on top :D
OREGON has PHOOOOO!!!!!!!!!!!!
And Tsmandy -_-
Although you dont pay sales tax. State and federal is still taken.
But if you add all the stuff you buy in one year I mean it counts up.