What is the state of the economy in your part of the world?

[scorpio]

With all of this talk from the mainstream media liars about 'green shoots' and a economic recovery just around the corner, I thought it might be interesting for people to post their own observations about the state of the economy in the region of the world/country in which they live. Timothy Geitner actually had the nerve to say that it might be a 'jobless recovery' (whatever that means).

   As for me, I live up in the hills in northern California (north of San Francisco). Many of the people that I know personally are having a very rough time. Many of my friends have been laid off from their jobs, and simply cannot find another. My wife's brother is a plumber, with over 20 years experience. He has been out of work for over 9 months and has had to sell off most of his assets. He moved into a friend's garage to try and save money. He simply cannot find another job. Other friends I know who have college degrees from 'good schools', are now working in Starbucks and Home Depot (both Jew owned companies), and feel lucky to actually have a job.

   Meanwhile, the cost of living keeps going up and up. Food prices in California have at least doubled over the last couple of years. My wife and I have our own business and are doing okay, but are working longer hours for less money.   :x  We have cut expenses, and are growing as much of our own food as possible.

My Godfather is an eye surgeon. Even he has had to take a 20% paycut, and he's 'rich' by most people's standards.

   That's my report from Northern California....what's yours?.....

[Ognir]

Brown leaves are appearing in Switzerland.

The official government outlook isn't good at all.  Umemployment to rise from 3.5% to 5.6% in 2009 but the Banks are doing fine.

We the tax paying people of Switzerland have *given* 6 billion swissie to UBS and have another 54 billion reserved if needed

From my local sources,  the banks are letting lots of people go, but in 2 and 3s, so they don't have to pay for a social plan.

Watch makers are letting lots of high skilled workers go,  but the Banks are in good shape.

It's kinda like the calm before the storm. Swiss people in general are aware that things have changed but I'm not sure they have a clue about what is really going on but the banks are solvent and doing fine.

[hurensohn]

Kinda funny, all companies go into recievership, unless they are jew banks, then they get a bail out.

[LordLindsey]

Here in the South in the U S, things are much worse than you can imagine.  There are "For Sale" signs everywhere there are homes, no matter WHAT kind of community it is, there are more houses than you would think for sale.  There are very few jobs available, and the "Want Ads" section of the paper is literally more than half the size that is was before I left to go oveseas.  Rent is dropping, but that is because people simply don't have any money left as they used to have and the renters are forced to lower rents across-the-board.  

PEOPLE ARE ANGRY.  You can see it on the faces of the average person when I or any of my friends go out.  People are NOT smiling as they were, and even tonight on the 4th of July, there wasn't that "feeling" that there was two years ago when I last celebrated it here in America.  For a perfect example of my point, my parents, a friend, and I went to the movies tonight after eating for the SECOND TIME! and you would expect everyone at the theater to be smiling and happy--but that just wasn't the case--AND THIS IS THE 4TH OF JULY!  The dance clubs are not packed like they used to be, and that is a huge indicator of the disposable income and happiness level of the people.  You just don't want to go out if you are not "feeling it."

Man, I honestly-to-God do not recognize my country any longer.  Things in Thailand are getting much worse economically from what I am both seeing and hearing, but that is to be expected as people just don't have money to blow on tourism.

Look, the bottom-line is that EVERYTHING that you are hearing about how wonderful things are is COMPLETE BULLSHIT.  Things are far worse than you are being told and all that any of you have to do is GO OUTSIDE and ACTUALLY LOOK for once instead of just going to wherever it is that you're going and doing whatever it is that you're doing when you get there!  I am a very observant person, so this is natural for me, but today the 4th of July didn't feel at all like the 4th of July that I remember in the past; NOT AT ALL.  Going to the movies with my family and a friend and seeing how people were--not very talkative and not smiling--left me with an uneasy feeling.  I actually had a wonderful time today, but again, I will never forget how it felt to be in a place and on a day wherein people are SUPPOSED to be completely enjoying themselves, but the reality of the PRESENT and FUTURE has finally reached the people.

THE PEOPLE KNOW THE TRUTH--THEY JUST DON'T KNOW WHO OR WHY.  You can place a BET on that fact.

LINDSEY

NB:  I could literally write a several-page article about what I have seen, but you have a very good idea of what it is like here in the South.

[sirbadman]

A lot of people have lost jobs in Australia, and the nation had a trading defecit of $500 million in May, but generally things aren't too bad yet. PM Kevin Rudd is doing his best to stuff up the economy though with crazy misguided stimulus packages. He's going to debt fu*k Australia.  

China is the only country saving the world from going down the toilet, and perhaps India to a lesser extent.

The Chinese have been building up strategic stockpiles in a lot of commodities, and this is synced with their calls to get out of the US dollar. China wants to have a lot of commodities before it exits a lot of US treasuries.

I think there will be another commodity boom, but it will be a rush to commodities after the US dollar has its anticipated crash. Dont see the pound or UK looking very safe either.

 But Australia, because of its mining, gas, and agricultural industries,  will probably do better than most countries whenever US and UK start experiencing nasty inflation/monetary devaluation.

I think unemployment is tipped to be 6.5 to 9% next year by various pundits, 5.75% by the optimistic government, was a bit under 5% last year I believe, say in the first half.  In Australia working one hour a week is considered employed I believe. But all the unemployed are counted unlike US. In the US its like six weeks unemployed and then you dont show up in the official stats. Would not be surprised if real unemployment in US is 15%.

The next six months are likely to be quite ugly everywhere, especially September.

Be interesting to see what happens with the state of california, and the UK govt's debt raising plans.

[CrackSmokeRepublican]

I've seen an increase in people begging in my Southern USA city. More Jewish Lawyers advertising about "Bankruptcy and ForeClosure" on Billboards.

Two years ago, you saw Jewish Realtor signs, today you see Jewish ForeClosure Prevention Lawyers -- it's the same old Jew Sh*t.

Interesting interview on FSN 1st hour.  They have the Dumbass Jew Prick George Soros mouthing off about "Dollar Weakness" and how the "Chinese don't like the dollar", as if he's telegraphing a Jew Run on the Dollar like he did on the Pound 15 years ago.  
They also warn of a Head and Shoulders top forming in the major indexes right now that's about 85% complete. Could mean dramatic lows in the near future if it sets up.

 http://feedproxy.google.com/~r/feedburn ... 0704-1.mp3

[Chargeemquick]

I have a couple of friends who are/were part of the aspiring rich in London(I.T,and finance management).They tell me that many in their circle are losing bread and butter contracts/getting laid off/declaring bankruptcy/eating into savings.
Practically deserted retail shops with worried-looking sales staff says it all IMO.The local 2nd hand car dealerships selling cars for around 60% of the price a couple of years ago(even though we have a car-scrappage "stimulus" government scheme in the works).

This is in Southampton and southern Hampshire,England.

[Qumran]

Some recent thoughts on the subject:
Governmental institutions that are profitable are privatized and the ones going bad remains governmental.

Most people are aware of the risc of unemployment and many are prepared to have their salaries reduced in order to keep their jobs.

Our loan rates are very low though, so "the un-knowing goyim" goes on shopping.
And they all smile. prozac combined with self-deception seems to be the key to true happiness.

[Qumran]

... that goes for Sweden

[sullivan]

The economy here is in tatters. The public-sector borrowing requirement is reported to be close to €50 billion, close to 27% of GDP.  Why the country moved from so-called Celtic Tiger boom to such a high PSBR practically overnight is a huge question that isn't being asked by any of the commentators, but which needs to be asked and asked repeatedly until some sensible answers are forthcoming.

Housing costs are down, which is a minor upside to an otherwise dire situation.  Shopping centres, main street retail outlets and office buildings are finding it increasingly difficult to find and keep tenants, so I expect some major commercial mortgage defaults later this year or early next year.

[CrackSmokeRepublican]

CIT is looking very shaky - this means a HUGE kick to the SHINS of the everyday Strip Mall Operation . My wife tells me that the Mall is becoming more and more "Ghostly" when she goes shopping. It is starting to happen -- the outcomes of the  Jewish Financial Scams hitting the real economy.

CIT going under is going to leave a lot of everyday people crying in the USA. A lot of Layoff-Shut downs-Can't Make Payroll fears are going to increase.

 This will be another descent on this sick Jewish Usury Rollercoaster ride for a lot of people -- it pisses me off to see IDIOT JEW SCAMMING GOLDMAN SCHITS get a Bond Upgrade while the Real Economy will be left to pretty much fall over and collapse.  F***ing Scamming Idiot Jews!  :x

On the bright side, this might bring a couple people around to TIU eventually after they try and figure out how the Jew Scams all happened.  :

CIT Bonds Fall on Concern It Won't Meet Debt Payments (Update3)
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By Pierre Paulden and Caroline Salas

July 13 (Bloomberg) -- CIT Group Inc. bonds plunged on concern that the century-old lender, which has been unable to persuade the government to back its debt sales, won't be able to meet its credit obligations.

CIT's $1 billion of floating-rate notes maturing in August plummeted 14.375 cents to 80 cents on the dollar as of 4:21 p.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

A CIT collapse would put 760 manufacturing clients at risk of failure and "precipitate a crisis" for as many as 300,000 retailers, the New York-based lender said in internal documents obtained by Bloomberg News that make the case for its importance to the U.S. economy. CIT spokesman Curt Ritter declined to comment on the documents.

"If CIT isn't doing trade finance and lending, its customers will look to other banks for replacement and from what I've seen, they aren't willing to step up," said Ed Grebeck, chief executive officer of debt consulting firm Tempus Advisors in Stamford, Connecticut.

U.S. officials are "in advanced talks" about aid for CIT, the Wall Street Journal reported, citing people familiar with the matter. No final deal was yet reached and the cost of any rescue isn't known, the Journal reported, without elaborating.


http://www.bloomberg.com/apps/news?pid= ... syTvLmeyDE

[scorpio]

The economy here is in tatters....
Housing costs are down, which is a minor upside to an otherwise dire situation.  Shopping centres, main street retail outlets and office buildings are finding it increasingly difficult to find and keep tenants, so I expect some major commercial mortgage defaults later this year or early next year.

Thanks for the post. It is important to hear real reports from the ground level, by real people, not shills with an agenda, who want to keep their high paying  $$$  :twisted:  :twisted: jobs.

One thing I have been noticing here in California is that I am seeing more and more homeless. Not your stereotypical winos and bums, but people who were formally 'middle class'....sad....It's just the beginning.

Scorpio11

[abduLMaria]

It is important to hear real reports from the ground level, by real people, not shills with an agenda, who want to keep their high paying  $$$  :twisted:  :twisted: jobs.

real people ?!  THAT'S US !!

i live in Norcal too, wine country.

one interesting metric i noticed was local crime.  by local i mean, the house across the street, for example.  i live in an area that has a lot of Edwardians & Victorians and some other architect terms i can't remember.  basically a "low-crime" area, till about 6 months ago.

house across the street, burglary while woman was at work, $15K worth of stuff stolen.

dentist's office 3 blocks away, whoever robbed it grabbed a week's receipts & ran through my apartment complex (4 apartments), and dumped the stuff they didn't want right there.  i come out at 7:30 in the morning and there's a crime scene, check's, even a few envelopes with cash.  my "illegal immigrant" neighbor called the cops, returned the cash to the dentist (HONEST GUY - about $150).  wish i had taken a picture, it was classic, week's worth of receipts from a dentist's office dumped on the ground.

anyway, a definite uptick in crime.  as far as people being laid off, i don't have much to report.  i've talked to a few people who've lost their jobs but it's incremental, not like a huge uptick.  the yuppies i know from the gym seem to be mostly hanging on their jobs.

one thing i notice, i have a medical marijuana prescription & i have a favorite dispensary.  i'll be sitting there waiting for my turn to buy some Private Reserve "Grandaddy Purple" or whatever.  i notice a lot more people coming in with bundles of fresh harvested high-grade marijuana trying to sell it, it's like watching religious pilgrims visiting a holy site.  i feel sorry for them, i sense desperation and the sadness & rejection when they're told that the dispensary "doesn't need any more".  it's just wierd seeing people drive around town trying to sell their pot, working under the Calif. medical marijuana laws, and it's not selling.  for them, that is like unemployment.

[scorpio]

one interesting metric i noticed was local crime.  by local i mean, the house across the street, for example.  i live in an area that has a lot of Edwardians & Victorians and some other architect terms i can't remember.  basically a "low-crime" area, till about 6 months ago.

....the house across the street, burglary while woman was at work, $15K worth of stuff stolen.

Great post! You have brought a whole new element to the discussion: crime. A by-product of the ongoing economic collapse.
I think this is just the beginning.

Scorpio11

[abduLMaria]

after posting i thought of my neighbor, who is a landscape contractor.  he's Mexican, and i've been watching him manage his business for  2 1/2 years, and i am impressed.  he works hard and is also a sort of natural born manager - in a good way.

in 2007, when i moved in, he'd typically have 2 guys waiting, and then at the end of the day he'd come back with a truck and/or trailer full of wood trimmings, yard trimmings, etc.  i remember marveling at his ability to back a truck & trailer in a narrow opening, the driveway.

well, i haven't had much chance to observe his truck-backing-up prowess recently.  i would say business has dropped off about 75% in 2 years.  i only see the truck/ trailer loaded up - indicating he's working - about one day a week, instead of 5.

also it seems like he's doing most of his loads himself, so i think for the guys that used to work for him, that's a lot like being laid off.

now that the state has gone into IOU mode, i wonder how long the overall mood of 'quiet desperation' can continue.  the summer heat was delayed this year, but it's finally coming on, mid-July.

the state is very vulnerable to an earth quake right now.  i think there's some wisdom in being prepared for earthquakes when you live in an earth-quake-prone state.  Calif. is so un-prepared for an earthquake right now.

i joke with the guy at the supermarket about the trucks bringing the food to the stores.  like "hey, you sure the trucks are going to keep bringing the food to the store ?"  he sees me loading up on canned food etc.  i've even gone so far as to train myself to eat earthworms, part of my own personal survival training for the times.

[scorpio]

I live a good distance from any city but every time I go into town, I see a new homeless couple in their 40's or 50's with a sign asking for help...It's not just bums and winos that are homeless anymore.
I am also seeing more and more young homeless in their early 20's
I have never seen anything like this in my lifetime.

To make it even worse, the cost of living is soooo high up here. A one bedroom apt. goes for $800+ and that's for something small and not in such a great neighborhood.
My wife bought a large jar of organic mayonaise yesterday and it cost $10 (That includes the 9.5% sales tax). WTF :?:

It's getting to the point where you have to be rich to be poor!

Scorpio11

[HHAndy]

The German economy is heavily reliant on industrial production (unlike US + UK etc). Industrial production is down heavily and exports are predicted to fall by 17% this year. The auto industry is the bellwether for German industry and it is in trouble. The government is supporting it with a cash for clunkers program, but there is widespread short time working which hides the true unemployment levels. Porsche has been taken over by VW, and BMW has just announced that it is leaving formula 1 to save money. Overall unemployment has just risen to 8.4% and the OECD has forecast that it might reach 11.6% next year, but the reality is much worse as government projects and the short time working hide the true picture.

At the moment there is a belief that the bottom is reached and that things will start to get better. The rising stock market and the media encouraged by the government ahead of the General Election in 8 weeks are the main reasons for this. Unfortunately, the ZEW investor confidence figure which came out last week showed a fall in confidence.

German investor confidence unexpectedly fell in July, suggesting the recovery in Europe's largest economy may take longer to materialize.

The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months ahead, declined to 39.5 from 44.8 in June. Economists expected a gain to 47.8, the median of 36 forecasts in a Bloomberg News survey showed.

The following article summarises the overall picture well:

BERLIN (Dow Jones)--The German economy seems to be bottoming out from its worst slump in sixty years but weak foreign demand means that the rebound of Europe's largest economy will be only "very modest" next year, the Berlin-based DIW institute said Wednesday, cutting its forecasts.

The institute forecast a 6.4% contraction in gross domestic product for 2009, and predicted the economy to grow by 0.5% in 2010. Back in April, the institute had forecast the economy to shrink by 4.9% this year and forecast slightly more than 1% growth for 2010.

DIW estimates real GDP to have contracted by over 7% on year in the second quarter, when adjusted for working days.

"A lot hints that the shrinking process, which we have seen in the fourth quarter of 2008 and the first quarter of 2009, has now come to an end," said Christian Dreger, head of DIW's economic department.

"We will see a slightly negative growth rate in the second quarter and we will likely see positive growth rates in the second half of 2009. But it seems that this recovery will be very modest," Dreger added.

The forecast by DIW is roughly in line with that of the government, which forecast the economy to contract by 6% this year and to grow by 0.5% in 2010.

German exports, which make up nearly half of Germany's GDP, will plunge 17% in 2009 before growing by slightly over 3% in 2010.

"We need an upturn in the world economy for Germany's economy to get going again," said Dreger. The central and eastern European countries as well as Russia, where Germany companies are well positioned, are currently still deep in the economic crisis. "As a result, Germany might profit from the world economy's upswing only later," he said.

The recession will hurt the labor market, with DIW forecasting German unemployment at 8.7% this year and at 10.9% in 2010, after reaching 7.8% in 2008.

Unemployment will "rise clearly in the second half of the year and also next year," said Dreger. That's because companies, which often put workers on reduced working weeks instead of laying them off, will have to eventually adjust staffing levels, he added.

Private consumer spending has been a "stabilizing factor" for the economy amid low inflation but rising unemployment will result in a 0.2% decline in private consumption this year before rising by 0.4% in 2010, said DIW.

The institute forecasts German consumer prices to rise an annual 0.2% this year and 0.4% in 2010.

Germany's public finances will deteriorate, with the DIW forecasting the budget deficit to widen to 3.7% of GDP this year, from a 0.1% deficit in 2008, and to 6.3% of GDP in 2010.

http://online.wsj.com/article/BT-CO-200 ... 05103.html

The bottom line is that Germany depends on the world economy improving so it can sell its products and that is optimistic to say the least.

Another problem is the banks. There is great concern about the solidity of the German banks internationally and nationallly. The banks are not loaning enough money to industry with the result that the important Mittelstand - mid-sized companies are struggling. One company I deal with has just entered insolvency and someone in the finance business told me there is an insolvency wave ahead. It has been noted that larger companies have been getting money which just happens to avoid nasty headlines of X thousand people being made redundant - 50 or 60 people is not news no matter how many times it happens. One German bank has been given money to invest in SMEs but has preferred to boost its capital adequacy by investing it on the stock market.

Hamburg has been effected by the crash in shipping and trade. The port is well below capacity after several boom years. Finance and service industries connected to these sectors are also suffering. Shops, restaurants etc are suffering a knock-on effect. Strangely I do not get the feel of dispondancy around the city. Presumably, everyone has bought the ´it´s nearly over story`. Unless anything major happens in the next few weeks, I think we will have to wait until after September 27 to see what direction the new government takes before an upodate can be made.

HHAndy

[scorpio]

HH - Great post. Very informative. I did not know that Germany is doing a cash for clunkers. Just like in the USA
The stock market is going up in Germany. Just like the USA.
The car business is hurting. Just like the USA.
Unemployment is going up and up. Just like the USA
Things are supposedly getting better. Just like the USA
If I didn't know better, I'd think that the same people are running all the governments of the world :lol: :lol:  :lol:  

Scorpio11

[sirbadman]

Might be time for an update now everyone seems to be heading into the second dip - China included.

Australia's housing bubble looks like it is going to finally start unwinding - banks have upped their deposit requirements and interest rates keep going up. New govt rules to restrict foreigners from buying property (maybe 3 weeks ago?) and cuts to popular skilled migrant categories (very recent) - it's too neat really, looks like someone powerful decided to pop this big bubble here this year.

But with all the mining it was too hard to stuff up Australia's economy so Prime Minister Rudd recently proposed a resources super profits tax of 40% for profits from digging stuff up out of the ground. He did this without warning anyone.  Billions have been wiped off the ASX, mining companies here are going to look at projects overseas, it's amazing, one dodgy puppet PM can do so much damage.

Saw about 6-7 To Let signs over 200-300m in the main corpy street of Perth today... dont recall seeing any in the past six months.

[Ognir]

Actually unemployment in Switzerland since I last posted on this thread has actually gone down
However I don't like what I'm seeing otherwise

[Roy Hobs]

I live in Atlanta Georgia.  I'm not seeing much of a difference to be honest.  Little Caesar's is popping up all over the place, however.  I remember during the recession of the 80's, Little Caesar's was hot.  Too bad the pizza sucks now.  I remember really enjoying Caesar's pizza back in the 80's.  I was hoping to enjoy the fruits of the recession.    

Industries around here have been able to keep prices down to keep business running.  Certainly the standards have decreased.  We have a pizza chain called "Cici's".  All you can eat pizza.  Used to be really good.  They haven't increased the price, but the pizza now tastes awful and the quality of everything else is gone down hill.  

However........if you know how to shop, things are still relatively inexpensive.  

Here's the really bad news................I work in exclusive neighborhoods.  You could say I am a coach to the rich kids.  We will leave it at that.  My business has not decreased.  In fact it has increased.  Too bad I'm getting old and can't work full time.  Guess what?  I have had an increase of about 30%.  Guess who?  Jews.  No joke.  I would say close to 50% of my clients are Jews.  It didn't used to be that way 5 years ago.  It really sucks because I have to watch what I say.  I can't lose the business right now.  Perhaps my predicament is why this "thing" has gone on for so long.  I'm not afraid to speak.  I speak to every gentile I know.  But I've yet to drop the bomb on any of my jewish clients.  I did tell one Jew who is active in the Tea Party movement to check out 9-11.  If you look hard enough, I told him, you will find the true enemy of the people.  Guess what?  I don't work with him anymore.  Guess he found the truth.  

My wife and I try to Dine Out one night a week -- Friday or Saturday night.  We can never get a table until after 8:00.  It's hard to find any signs of a Recession here in the better parts of Atlanta.  My neighbor, however, who rents a mobile home on my property, is out of work.  He drives Truck.  He can't get hired because he is White.  I didn't believe him until I started looking at every driver of Dump Trucks.  Yep..........he is right.  Couldn't find ONE white driver.  The City and State only hire Minority Drivers.  He doesn't pay rent anymore.  I doubt he will ever work again.  Guess he is in my care now.  

I hear all the talk of Recession/Depression..........but I have to be honest, I don't see it on the ground here yet.

[pas]

I don't have the ''official" data but in Holland i see the same.

One of my friends works in Amsterdam in retail.The store is located in the country's most famous shopping street and has done business there 25 years, but lately there havn't been much costumers so it has to close down and he'll lose his job.
Another friend just lost his job at a large bank(ABN-AMRO),he's an IT-guy.

Food prices are very high especially fruits and vegetables.(A couple of weeks ago i paid 2,85€ for one paprika)

Crime is up,despite the increace of police (because of terrorism-propaganda),the police have become very strict in giving tickets lately.I hear many stories about robbings lately almost all of them in the victims own house.

Car industry is begging people to buy their cars by offering high compensation for your old car if you buy a new one.

Housing markets are down.A friend of mine has his house up for sale for over a year ,he's already bought a new place and now he's stuck with two mortgages.(i told him,he would not listen)
In business realestate there's the most vacancy, i've seen good locations staying empty for a long time.

Thing's on people''s minds are the fake elections and soccer.