Archive for February, 2009

Part 2- Economy is so Bad. But Be Hopeful, We will Recover…

I am continuing with my last post on How bad really is economy? but with a hope for a better future. Read on…

Economy is so bad,

Millions of job losses have put many people on the road searching for any jobs to feed their families. People are now on the look out for bare minimum jobs to run their lives.  In Six flags California, they witnessed record number of turn around for theme park jobs which is really unusual. Usually teens are the only people who are intereted in the fun jobs. With record number of job losses, people with past experiences are back to get any jobs.

Recently GM announced its plans to slash 10,000 jobs all over the world and 3400 only in US. Even walmart announced is cuts in corporate HQ of about 700-800 jobs. More job cuts on the way and more struggle for many.

Economy is so bad,
Asian kids are going to Community College. This one is from Late night show by Jay Leno which meant to be funny comment.

I think its enough of facts which might be depressing to many of you. After all, they are the true facts  and we have to digest it. If you cannot realize these fact, it will be hard to focus on the future.

I am already seeing  light shining as a hope from Mr.President Obama’s speech. In his speech on Feb 24, 2009, he said  “We will rebuild, We will recover”. So let us focus towards good things which happened even at this bad time. With great hope brings better results and change expected to happen.

It is good,

To experience a recession once a while as per the economical cycle. It is a healthy for the country. I know it brings tough times to all of us which helps to bring the best out of us. Americans have seen more than this recession, we can get thru it. This also helps to standarize things, consolidate industries and sectors on mergers and take overs, it helps to show strongest candidate of companies from pack who can withstand the storm. 

It is good

After $750 billion stimulus package announced last summer, in which half of it is used to stabilize some banks, Insuance company and other company inin last 6 month. It wasn’t enough to help stop the economy blood shed pushing the country towards bad recession. So Obama government has to take the savior role and announced stimulus package 2.0 for $787 billion. It is expected to boost the economy slowly by putting the money in  various government projects like federal building, bridges, roads and schools and steadily pumping jobs by end of 2009. It is different from previous stimulus plan in a way inducing the steriods slowly to the economy for the steady growth.

It is good

We are going back to fundamentals. We are going to the basics to boost the economy instead of just sending cheques to tax payers to give a temporary kick tried by last goverment in the stimulus 1.0. This way, more jobs are expected to be created along the way and public is going to benefit out it.  It is good to see, we are going back to our old lending practices with more strigent rules and regulations to avoid a crisis like this one.

It is good

After Bernie Madoff Ponzi scheme, SEC found 4 more fraud and scams of similar type including the recent Standford Financial billion. Uprooting of these scams is good which normaly happens when the economy gets worse. It is like weeding the yard after the winter break during Spring. It is suppose to bring fresh air to start a new beginning..

It is good,

In the stimulus package, Mr.Obama has announced a Homeowner Affordability and Stabilty plan to keep more people at home by giving a second chance. In this plan, people who are at risk of losing their homes will be given opportunity by their lenders to make modification in their loans to reduce their payments. It is going to help thousands of families who are in the verge of losing their homes.

It is good

All banks are now on the road searching and recruiting customers. CITIBank recently advertised and sent out offer letters to many households with $225 gift card if you sign for all of its 3 offers or get different amounts of cards according to the offer. Many other banks are about to follow in  a way to build the confidence back and at same time build their cash reserves via customer deposits.

It is good  

Tax software companies are offering free packages and softwares to help out people to save on their cost. Tax season is almost here and about time to get some refund. Even Turbo taxes is offering free business suites to help the business people on submitting their taxes. Many companies like Tax Cut, Tax act are joining the band wagon trying to help out and also a way to recruit their future customers.

It is good,

Unemployed people are going to recieve more help on their pay check with a boost of upto $25 per pay check from the new stimulus package.

It is good,

Energy alternatives is getting some much needed attention as Obama promised moving away from the oil dependency for the better and greeny future ahead. We need to wait and see the actual plan about it.

It is so good,

To hear education is one of the high priority in Obama’s agenda. Obama also set a goal of having the highest college graduation rate in the world by 2020.

OK!! You heard all the promises, but what can you do to help?

It is a open call to all of us to rebuild America, an opportunity of life time to help recover America from Recession by doing just what you been doing always. Working hard, saving better to improve the reserves and spend wisely to getting out debt.

Noting that is easy to “become cynical and doubtful,” Obama said he has learned that “hope is found in unlikely places.” Lets all hope to see the light at the end of the tunnel very soon. I am hopeful, are you?

Big Crumbs – Shop and Get Cash back – Old Idea different Market

I just found about this wonderful money saving way. It not the usual way to shop online and get cash back via your credit cards It is a totally different concept but actually old concept. Big Crumbs reinvented the idea of sharing commission and MLM to implement in the Shopping arena.

In a shorter versoin, here is how it works. Big Crumbs partnered with big name brand retailers and promote their products and get paid commission. By becoming the Big Crumbs member and going thru their link to shop as usual in those website, they get paid commission and they are sharing their commission with us.  Thats as simple as it is. Also you get referral bonus for referring people and also earn commission on spending of your referers referral as well. There are lot name brand company partnereed with them like Best Buy, Target and even ebay.

No catch, No Hassle. I am don’t recommend anything which doesn’t make sense. I even researched to see whether the retailers jack up the price when you use this service and they don’t. So it truely trust worthy.

You can check out How it works and more details at

Please use me as referral if you like the idea and usefulness of the site. I am strongly recommending if you are big online shopper and ebay auctioneer.

How BAD is the Economy? A Reality check

We all hear about the bad Economy every day in the news and how it is going to get worse more before we see a light at the end of the tunnel. We hear in every party conversations economy is a part of it these days. It is so bad that people are stressed out worrying for making their living. There is also a big hope on the so called STIMULUS Plan 2.0 which is expected to jump start the economy.

Whether it will really work or not, we all have fingers crossed to wait and watch. But whatever happens, we the ordinary consumers (low&middle class people) have to go on with our life, work  our jobs, even harder than before to stay in them, make the dollar to feed our family and take care of our life. So it doesn’t change a darn things except we can only pray for our jobs to stay and prices to go down on essentials.

I know many of you like me are interested checking out how bad or good is the economy actually from the ordinary persons real life perspective.

Economy is so bad,
Let me start with a lighter note. I heard sales on Hair cuts by Great Clips. They are offering $5.99 for all ages starting this Feb till end. It is one of the biggest Hair Salon chain having 2700 locations around the nation. If they are running deals, that means they are down on sales which in turn tells people aren’t spending a lot these days for extras not even cutting hair to look good. Interesting but true and fact sales on every market is affected by this downturn.

Economy is so bad,
In December, the number of unemployed persons increased by 632,000 to 11.1 million and the unemployment rate rose to 7.2 percent.  Since the start of the recession in December 2007, the number of unemployed persons has grown by 3.6 million, and the unemployment rate has risen by 2.3 percentage points.

Nonfarm payroll employment declined sharply in December, and the unemployment rate rose from 6.8 to 7.2 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today.  Payroll employment fell by 524,000 over the month and by 1.9 million over the last 4 months of 2008.  In December, job losses were large and widespread across most major industry sectors.  (Household Survey Data)

Economy is so bad,
In 2008, the number of identity theft cases jumped 22 percent to 9.9 million, according to a study released yesterday by Javelin Strategy&Research. The good news is that the cost per incident – including unrecovered losses and legal fees – fell 31 percent to $496.

Crimes of opportunity, such as stolen wallets, were linked to 43 percent of cases last year, up from 33 percent in 2007. That might be why women were 26 percent more likely to be victims of identity theft; they reported more cases of lost or stolen information during in-store purchases. Online access accounted for only 11 percent of cases, according to the survey.

Economy is so bad,
US Automakers like Crysler, GM are asking for more money to save their company and the thousands of jobs in Detroit. Many banks gone resolvant and big companies like Circuit City gone bankrupt. Many more too follow.

The list goes on and on. We will
Continue in Part 2. If you want to add it, please add as your comment.

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