Economy for 2011 - Your Thoughts - Page 2 - Mothering Forums

Forum Jump: 
Reply
 
Thread Tools
#31 of 38 Old 01-10-2011, 08:07 AM
 
Denvergirlie's Avatar
 
Join Date: Oct 2005
Location: Foothills west of Denver
Posts: 2,042
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

One of my current biggest fears is all the talk of the dollar losing it's status as the reserve currency. I've read about the UK, when the Bristish sterling lost reserve status and the USA's dollar became the new reserve currency. The English people really suffered from inflation and their currency dropped. Almost every day I read another story about how the Arabs are trading in there own currency for oil sales. Yesterday there was an article that the Yuan would be the reserve currency within 20 years, but I doubt it will take that long.

Denvergirlie is offline  
Sponsored Links
Advertisement
 
#32 of 38 Old 01-10-2011, 03:56 PM
 
Usually Curious's Avatar
 
Join Date: Apr 2006
Posts: 1,935
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 23 Post(s)


Quote:
Originally Posted by Denvergirlie View Post

One of my current biggest fears is all the talk of the dollar losing it's status as the reserve currency. I've read about the UK, when the Bristish sterling lost reserve status and the USA's dollar became the new reserve currency. The English people really suffered from inflation and their currency dropped. Almost every day I read another story about how the Arabs are trading in there own currency for oil sales. Yesterday there was an article that the Yuan would be the reserve currency within 20 years, but I doubt it will take that long.

20 months maybe?
 

Usually Curious is online now  
#33 of 38 Old 01-10-2011, 04:10 PM
 
WorldsBestMom's Avatar
 
Join Date: Dec 2009
Location: USA
Posts: 476
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

I only hope the economy  will get better and more jobs will be available. A lot of people have lost their jobs as well as their homes. So more jobs is definitely needed.


Worlds Best Mom
WorldsBestMom is offline  
#34 of 38 Old 01-11-2011, 06:05 AM
 
worthy's Avatar
 
Join Date: Oct 2010
Posts: 900
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 6 Post(s)


Quote:
Originally Posted by WorldsBestMom View Post

I only hope the economy  will get better and more jobs will be available. A lot of people have lost their jobs as well as their homes. So more jobs is definitely needed.



This is an understandable hope, but I think it's going to be gentler in the long run for us to be realistic about what is possible.

 

The economy grew because of the credit bubble.  Job numbers grew because people were expanding their spending with credit, not cash.  Workers came to depend on those jobs.  And now we feel entitled to an economy that has jobs for everyone. 

 

But the credit bubble has burst and needs to correct, which means job numbers will have to shrink because people are (in significant numbers) now spending cash, not credit, so their spending is smaller than before.

 

We have gone from a one-income-family society to a two-income-family society over a couple of generations.  To simpify, that's roughly doubled the jobs.  And our expectations, and habits, and the prices of things, have adjusted accordingly.  The adjustment back to something closer resembling a one-income-family society is going to be uncomfortable because we have this overall cultural expectation, built into our economic practices, that people have a certain level of spending power.  But that was an illusion propped up by credit.  Our "real" spending power per person is much less, and so our ability to support other people's jobs with our spending is less.

 

I am most certainly not a doom-and-gloomer.  I think of myself as a "realistic optimist," and the optimism is in part from believing that if enough people are aware of the mechanism by which our economy got where it is, we'll be able to gently steer our economic practices so that current and coming changes in our economy do not come as a shock.

 

The economy is such a complicated machine. 


- single homeschooling mom to 16, almost-15, 12, and 10
worthy is offline  
#35 of 38 Old 01-13-2011, 05:46 PM
 
aturnbg's Avatar
 
Join Date: May 2010
Location: Ohio
Posts: 10
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

I'm like to hope for the best but plan for the worst.  What is going to happen?  No idea.  My husband works as an accountant for a law firm who rep's the banks.  He says it's bad. I'm worried though.  :(

 

 I am a couponer and a stockpiler also.  Not so much this last year, which is b/c of having twin 2 year olds and a new baby, but I'm working double time now that I feel like I am able to.  I will continue the year working on keeping my stockpile up - both for myself and for donation.  I already make 98% of our meals at home - breakfast, lunch and dinner. We eat our only like twice a month - usually fast food after church.  The only thing I didn't do last summer that I did previously was 'can' alot of our veggie garden and cheap produce and fruits.  I want to focus this spring and summer doing that for this next winter.  We are not that into jams but I would love to buy a freezer this summer and get some cheap fruits I can freeze and use for baking this winter. 


Wife, Mother, Christian
Twin Girls (2) + Newborn Little Boy
aturnbg is offline  
#36 of 38 Old 02-11-2011, 09:23 AM
 
Denvergirlie's Avatar
 
Join Date: Oct 2005
Location: Foothills west of Denver
Posts: 2,042
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)



 

Quote:
Originally Posted by Usually Curious View Post



Quote:
Originally Posted by Denvergirlie View Post

One of my current biggest fears is all the talk of the dollar losing it's status as the reserve currency. I've read about the UK, when the Bristish sterling lost reserve status and the USA's dollar became the new reserve currency. The English people really suffered from inflation and their currency dropped. Almost every day I read another story about how the Arabs are trading in there own currency for oil sales. Yesterday there was an article that the Yuan would be the reserve currency within 20 years, but I doubt it will take that long.

20 months maybe?
 



20 months? Seems like it's moving much faster than that.... current story today about just this on CNN

 

http://money.cnn.com/2011/02/10/markets/dollar/index.htm 

Denvergirlie is offline  
#37 of 38 Old 02-13-2011, 02:59 PM
 
Turquesa's Avatar
 
Join Date: May 2007
Posts: 4,071
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 55 Post(s)

My I inject a little hope into the conversation?  A strong economy depends largely on a strong middle class.  And a strong middle class depends on responsible financial management and security.  I think (in a highly unquantifiable way!) that North Americans are finally questioning the dogma that they have to spend and go into debt to keep the economy going.  It may explain the booming popularity of Dave Ramsey and his ilk.  Change won't come from structure or corporations (who are too intertwined to care).  We'll have to do what we can, however limited, from a grassroots level.


In God we trust; all others must show data. selectivevax.gifsurf.gifteapot2.GIFintactivist.gif
Turquesa is offline  
#38 of 38 Old 02-15-2011, 12:59 PM
 
madskye's Avatar
 
Join Date: Feb 2006
Posts: 2,183
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

I think the economy is going to sputter and decline until we get some new industry going (like green energy) a la the internet or home sales.  We need a new boom sector to hire people and create new jobs, new technologies, new demand...but there was a sad story the other day about a Massachusetts solar power panel factory moving to China because it's too expensive to produce here.  So, I'm also feeling pretty grim about a new industry sprouting up anytime soon.

madskye is offline  
Reply

User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page


Forum Jump: 

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off