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| Hiya Folks,
Dang, the economic outlook for most states is sure gloomy. I recently read a Wall Street Journal article that describes the trends of most state budgets. Yikes. Are you guys aware that over 40 states are looking down the barrel of significant budget deficits for 2003? The worst it's been since the worst of the late 70s and early 80's recession. Moreover, no one seems to know when we'll all hit bottom in this round.
I don't know how any of us MF'ers can avoid being affected in one way or another. Me, I'm constantly trying to figure out ways to protect the employees and clients of the non-profit mental health agency where I'm Director. Even when fishing I can't get it completely out of my mind. I can manage my stress but the threat is growing.
How does this issue affect you and your fishing?
Last thought and I'll end this post.....the national economy is a much more immediate threat to my family than the likes of Saddam. The states can sure use the $100-200 BILLION dollars Bush is expected to spend in the initial stages of a war that he wants to start but really doesn't know how to end. Maybe you vets have more insight on this item.....how can we win if Saddam stations most of his forces in bunkers located in huge cities? Bagdad has 6,000,000 civilians, and Saddam is apparently placing over 50% of his forces in that city. |
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| Looking back on history, The US Goverment has typically used the WAR engine to pump us all up and get us out of a recession. |
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| Working for a construction company we see almost an imidiate impact when the economy turns slow or the stock market starts to dive.
What's ironic is that the outlook for next spring is a bit more optomistic than the article you read. I too get concerned about Wisconsins budget defecit and how "they" are going to try and correct it without taking more from those of us fortunate enough to still be working.
How has it effected my fishing?
Other than being a bit more conservative with purchases it hasn't. Although I didn't take any expensive trips this year either.
I'll be interested to talk to the guides who make their living from the sport to find out how their business has been. People seem to be staying closer to home which should indicate that guide business should be flat if not even a little ahead.
Mark |
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| I've always thought...."If you can get him on camera, you can get him in the crosshairs." It's not like he's hiding....take his head off!
As far as economics, we've been told at my workplace that there will be no raises for the next 3 years at least, because our health insurance is projected to go up 20-25% per year. No economic woes in the healthcare industry or if you work for an insurance provider. I can't drive past a hospital around here that doesn't have some kind of expansion going on. Bring on socialized medicine. Pretty soon I'll be working foe health insurance alone!
The stock market will turn around at some point, but health care is OUT OF CONTROL!!!!
Beaver |
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| The advertising agency I worked for lost almost 3 million dollars in one client last week. A large number of employees at the agency, including myself, were immediately let go. Everyone I know has been affected by the current economy in one way or another.
Zach |
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| I sell well drilling supplies and the year as a whole hasnt just been the worst, as with low interest rates are keeping the housing market moving, but not as opptimistic next year. I would just like to say that buying american made products is just a small but simple way of helping out. Did you know Wal-Mart has more products made i n China then anyother of the chains. Isnt China an openly communist state. Just my opinion, Stinky Nets to all and to all a Good Night.[8)] |
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| Fortunately for me in many ways the more stress people have the more work for me, the emergency department is a constant and our numbers grow by about 10% a year with all of the baby boomers that are reaching the age of coronary artery disease, depression, strokes, diabetes, etc. The economy really has little impact financially other than the beating I took on my 403(b), I'm young and get 50 cents on every dollar guaranteed that I invest in the 403(b) so I can't complain too much. |
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| The Marine Industry has been in very tough shape for over a year. There is a light at the end of the tunnel, and it isn't a train...[:bigsmile:] |
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| The economy is not in terrible shape. Recently, unemployment edged down about a tenth of a percent, and manufacturing has not been as weak as expected. There is virtually no inflation in prices. The only thing that worries me are the retail sales. If the consumer does not continue to spend we may be in trouble. The key to protecting yourself against the stock market fall is to stay diversified. Over the last few months, if you were in any kind of bonds you probably would have averaged a return of around 5%. Furthermore, since most 401(k) plans are invested heavily in the company's stock, you should sell call options or buy put options against your stock to protect against a fall in the stock price. You can't expect huge gains of 30% and 50% from the stock market after the "bubble." We may have hit a bottom recently, so things may look up. As for Bush, I commend what he is going to do with Saddam. We need to get rid of this threat once and for all, and that can not be accomplished without the use of force. We had to spend to end the threat of Communism, and we will have to spend more to end the threat of terrorism. I've said enough for an opinionated college student. Now you guys can attack my thoughts.
Mike Curto
[:devil:] |
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| Ranger- Yes it looks gloomy- hedge your bet's and diversify. Survival of the fittest is based on adaptability. The economy will recover, survival strategies in the near term is the key.
Al Warner
Director of Marketing & Research
Zalt NAD
www.spongebobismypsychotherapist.com[:sun:] |
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| No, no attacking of thoughts encouraged on this thread. I appreciate all the feedback. |
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| Good point, Al, back to the basics, eh? So, send me a couple of those Zalts and I'll be a field tester? |
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| That's what you get when you have so many years of unchecked growth. As everyone knows I sell screws and in the years 98-00 there was uncontrolled growth in the telecom and other tech fields. This created a huge gap in production capabilities. To meet demand, EVERYONE expanded until that demand was met. Then everyone woke up to the fact that Yahoo wasn't worth $400/share and began to bail. Now we're paying the price for our greed/stupidity of the 90's.
I took a HUGE hit from 2000 to today. Boy am I glad I bought the used Cajun for $8900 instead of the new Triton for $35,000. I'm seeing both good and bad in the future for the economy.
Right now, the US housing market is the only positive in the world market. That's the good news. The bad news is that there are many people sinking their bad dept they racked up in the 90's into their house. This isn't technically a bad thing, but when it comes time to buy that new house many people won't have the capital to move up. What's more, they won't be able to pay the grossly over appraised values houses are coming in at today. This my friends will signify the bottom of the downward spiral.
The best things the government can do for you and me right now is to keep taxes low giving you and I the opportunity to invest, pay off dept, and invest in an undervalued market. If the gov't raises taxes to cover it's own inability to control spending during boom times it will only plunge us into further recession.
Sorry to be a downer, but that's the concensus my other salesman friend and I are seeing right now. So since there's not much anyone of us can do, JUST FISH IT!!!!!!!! |
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| Actually....
I think things are starting to pick up. I work in the bulding industry selling plumbing wholesale and things are rocking.
Its good to see![:)] |
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