Recession In A 1st World Country

[jay372011]

I was in the elevator and 2 guys talking about recession in the United States - loosing jobs etc. Sana po share ninyo naman ano ba ang experiences ng mga Pinoys pag recession sa ibang bansa. Gaano kalala or ano ba ang paghihigpit ng sintoron ang ginagawa ninyo. Im just curios because i know what it is hindi ko lang alam kung ano effect nito sa middle class citizens ng nas First World. Dito kasi satin pag tag hirap talaga - gutom ang katapat. Please share your experiences.

[LastKraken]

You might have to give up your Cafe Latte :)

[pinya_ako24]

Yah sabi nila ang US is in recession pero i dont know yong angal nila is yong pag taas ng price ng gas lang naman ang narinig ko so far pero angal nga sila ng angal pero utang ng utang pa rin ng bagong sasakyan kakaloka.....

[Exodus6]

USA and Uk is experiencing recession right now and Australia is on the way to recession.

The reserve bank of Australia stated that "the economy of Australia is starting to slow down and next year expect there would be 100,000 jobs to be slash".

If you study the pattern of recession it occurs every 7 to 10 years.

[heymikey]

Yah sabi nila ang US is in recession pero i dont know yong angal nila is yong pag taas ng price ng gas lang naman ang narinig ko so far pero angal nga sila ng angal pero utang ng utang pa rin ng bagong sasakyan kakaloka.....
That's why the US is the most economically advanced country on Earth. People spend and spend which means money gets transferred between people a lot more frequently. If Americans stopped buying cars, eating out, buying new clothes, basically slow down consumption of goods, then the economy will be in really big trouble. People will lose their jobs and incomes will fall. This "utang ng utang" mentality as you call it is one of the reasons why America is rich and why the Philippines is so poor.

[neneodin]

Ayon sa Wall Street ay napakaraming banks and insurances sa USA ang nababankrupt na.Lalo na sa mga realties,maraming jobless sa USA na hindi na mabayaran ang mortgage ng bahay.Kaya ang mga bangko ay di na kayang makasurvive.
Hindi lang sa USA pati na dito sa Europe ,dahil sa laki ng value ng €uro ay kumokonti na ang namimili ng mga products made in Europe.Maraming mga company na lumilipat sa mahihirap na bansa para duon magproduce,kaya maraming jobless din dito.

Maganda lang sa European countries ay nagtutulungan bawat bansang kasakop.Kaya kahit papaano ay nakakasurvive.

[jay372011]

Share ko lang according to my friend who is in Canada - kapag wala ka daw job pa you can claim from Social Security and they will try to look for a job for you or support you and give you transpo pa daw. Kaya i mean mawalan ka man ng job govt is there to help you - sana tayo dumating sa point na ganyan. As of now puros job fair dito at duon - well at least meron pang ganito kahit paano at free training from the local govt. Pero yung financial support parang wala pa talaga. :(

[zerglings]

Sa US rin nagbibigay ng pera from the SS na na-contribute mo noong nagwowork ka pa. However, maliit lang ang ibibgay sayo. I think somewhere from $200-$500/month. Ang alam ko meron rin restrictions. Kung nagquit ka lang alam ko hindi ka pwede magfile. Pero pag na lay off ka pwede ka kumuha non.

[neneodin]

Ang pinagtataka ko lang sa US govt. kahit saang gulo isinisingit nguso nila,gaya ng sa Afghanistan,Iran,Iraq at ngayon nga ay sa Russia,palagi silang nakikialam ,bakit hindi nila unahin ang sariling bansa nila na makaahon sa recession bago tumulong o makialam sa ibang bansa.

Inuubos ng govt. ang pera ng taxes para sa mga giyera sa kung saan saan ,kaya tuloy yung mga mamamayan nila ang nagsasuffer.

Tumutulong man ang bansang Alemanya sa mga hikahos na bansa pero di isinasagad duon dahil inuuna nila ang sarili nilang bansa.At hindi papayag ang mga pangkaraniwang mamayan dito na sa ganoong bagay waldasin ang kaban ng bayan.

[S_C_U_D]

Share ko lang according to my friend who is in Canada - kapag wala ka daw job pa you can claim from Social Security and they will try to look for a job for you or support you and give you transpo pa daw. Kaya i mean mawalan ka man ng job govt is there to help you - sana tayo dumating sa point na ganyan. As of now puros job fair dito at duon - well at least meron pang ganito kahit paano at free training from the local govt. Pero yung financial support parang wala pa talaga. :(

Employment Insurance ang tawag diyan, ang binibigyan niyan yung mga laid-off, sick, pregnant, caring for a newborn or adopted child at yung mga nag-aalaga ng miyembro ng pamilyang may sakit. Galing din yan sa mga contrubutions ng mga tao dito, wala nga lang corruption kaya naibabalik sa mga tao.

Canada's economy is also slowing down, apektado rin ng mahinang global economy, hindi nga lang masyadong matindi ang epekto dahil sa mabilis na mga aksyon ng Bank of Canada (Canada's central bank) at ng federal government. Muntik na rin tamaan ng recession kung hindi lang nag +0.1% ang GDP nung 2nd quarter.

[blumage]

The problem in Europe in order to avoid inflamation tinataas ang interest rate. Pag tinataas ang interest rate tumataas ang mga niloan namin para bumili ng bahay. Lahat tumataas wala na pera para mag ipon

[neneodin]

The problem in Europe in order to avoid inflamation tinataas ang interest rate. Pag tinataas ang interest rate tumataas ang mga niloan namin para bumili ng bahay. Lahat tumataas wala na pera para mag ipon

Start ng €uros year 2000,sa isang week kasya sa aming mag-asawa ang 100€uros sa pagkain lang ,ngayon di na,sobra na mahal ng bilihin.


Para sa recession history sa USA ay mababasa lahat ang cause at future economy ng USA sa www.wallstreetonline.com

[jay372011]

Sabi ng family friend namin - yung mga may balak may US na hindi naman maganda at pang abroad ang course at professional medyo mahihirapan na daw now sa US. During their time mas madali daw ang buhay at mas madaling makaipon - but now not anymore. Swerte lang daw sila and they hold very stable jobs in government and they were in the US in the early 80's - but if ngayon ka daw pupunta duon - times and life are much harder. At present parang ghost village na daw ang tinitirhan nila because isa isa ng umaalis ang mga hindi makabayad sa bahay.

[kaye_82]

Lehman Brothers declares bankruptcy:

The ripple effect of recession in the US is strongly felt nowadays. Nobody wants to buy Lehman Brothers now, the 158-year-old Wall Street bank. Even Merrill Lynch is on the verge of closure as it agreed to sell itself to Bank of America.


http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4755498.ece

[S_C_U_D]

Uh-oh, bagsak na ang Lehman! Last year lang record breaking ang mga yan sa ganda ng performance, ngayon bankrupt na. Malamang AIG na ang kasunod, sana wag naman.

Maghigpit na ng sinturon, dapat talaga long term at diversified ang investment.

[Exodus6]

Australian government lost $ 400 million and now there are considering to take a legal action against Lehman.

Nowadays its not advisable to buy US shares... if you are thinking to jump to share investment I suggest buy Hong Kong, China, Canadian or Australian shares.

Whats happening to USA is their own fault, they created those problems by allowing high risk loans to be approved in the first place.

There is a strong evidence that USA shall become a third world country. On the other hand, China and India shall be the biggest economy by 2020.

[LastKraken]

Always, always have a job.

If you lose it do whatever you can to find a new one.

That is the most fundamental thing for survival... anywhere.

[sunpower]

Ang pinagtataka ko lang sa US govt. kahit saang gulo isinisingit nguso nila,gaya ng sa Afghanistan,Iran,Iraq at ngayon nga ay sa Russia,palagi silang nakikialam ,bakit hindi nila unahin ang sariling bansa nila na makaahon sa recession bago tumulong o makialam sa ibang bansa.


I'm starting to believe this hidden American interest behind this war gage; hidden pa ba 'yun?

[kaye_82]

I'm also wondering why every time there is an election, recession and economic problem starts to sink in. Hmmmm....

But I do believe the US could make a turnaround, after all, the ball is still round.

[crazp]

I'm also wondering why every time there is an election, recession and economic problem starts to sink in. Hmmmm....

But I do believe the US could make a turnaround, after all, the ball is still round.

yeah, ganun din dati nangyari noong 90's...not sure lang kung early or mid.

[me_bee_da7]

there's a silver lining naman for this recession.. consumers cut back spending so the stores must slash prices to drive traffic to the stores.. credit is scarce kaya walang mahiraman ang mga stores for their new inventory unless they sell their present supply kaya ok mag shopping KUNG may extra pera ka (malamang wala naman) dahil one must have savings equal to at least 6 months equivalent ng monthly expenses mo for emergencies gaya ng pag ma lay-off ka or nagbawas ng benefits sa work mo.. another positive is that GAS PRICES are down from almost $5 to $2.85 sa NY & $2.75 sa NJ pero ok sa Texas kc $1.95 lang*okay*.. isa pang positive is ang mga mister or BF stay home more often na kc walang overtime or walang trabaho kaya may time for bonding na:naughty: hehehehe..

but seriously, kakaiyak yung bawas sa 401K (retirement savings) & i heard that other businesses has stop paying the company's share sa 401K.. also mahirap na ang credit line pag may business ka & nagbabawas ang mga credit companies ng allowed credit sa credit cards kaya one has to save for emergencies.. daming lay-offs & food is expensive na dahil ndi na nakakautang yung mga companies selling food so less ang inventory nila.. GRABE!!:mecry: walang pera for shopping!!!wahhhhhh:bawling:

[shimmer23]

Hindi lang sa USA pati na dito sa Europe ,dahil sa laki ng value ng €uro ay kumokonti na ang namimili ng mga products made in Europe.Maraming mga company na lumilipat sa mahihirap na bansa para duon magproduce,kaya maraming jobless din dito.

.

you are making sense, kasi yong katrabaho kong indian, nagbakasyon lang ng india hindi na bumalik dito sa middle east at hindi na kinuha ang malaking indemnity (bonus) galing sa company namin, ganon din iyong friend ko, 2 indians na ka work niya hindi na bumalik sa work after vacation, indians are telling me na iyong mga multinational companies nagpupunta na sa india to invest at ang sahod malaki na parang nag abroad na rin! :D

There is a strong evidence that USA shall become a third world country. On the other hand, China and India shall be the biggest economy by 2020.

thats why maybe im making a point as well here...

[shimmer23]

That's why the US is the most economically advanced country on Earth. People spend and spend which means money gets transferred between people a lot more frequently. If Americans stopped buying cars, eating out, buying new clothes, basically slow down consumption of goods, then the economy will be in really big trouble. People will lose their jobs and incomes will fall. This "utang ng utang" mentality as you call it is one of the reasons why America is rich and why the Philippines is so poor.

yan din naisip ko, mga americans, they're rich pero lifestyle naman nila mangutang para mabili ang gusto nila at masunod ang american lifestyle nila na sinasabi....

sa ibang states nga sa US, kahit mga students pinapayagan mag loan at mag credit card para pang support sa education nila pero since hindi makabayad, merong mga reports na maraming nag su suicide na mga students! :bop:

ganyang lifestyle ba ang gustong gawin ng mga pinoy? sana we all learn form this, hindi pa naman huli ang lahat!

[shimmer23]

kaya rin nagsasara iyong mga ilang stores sa US kasi naka depende sila sa utang, eh hindi naman nakakabayad agad iyong mga customers so pantapal utang pa rin! bago bayad-utang-bayad-utang.. ganon! since wala nang ipapautang at mauutang ang siste nag sasara na sila doon!

mas affected iyong mga not so big time businessman sa US kasi sila ang natatamaan!

[me_bee_da7]

every economy is built on CREDIT.. kung walang nagpapautang sayo meaning poor ka kc at wala kang pambayad :p lolz :D..

the US is a great country with a proud heritage & has the most experience on recessions but it has always bounced back to a more progressive economy than before & that other nations copy.. we should remember that the US has always been there to help the less fortunate economies of the world bcoz it wants to spread democracy which i think is self-serving in order for it to feel safe with the rest of the world.. now i guess it realizes that it has to change & start making America rich & safe again for its own citizens kaya nga may Homeland Security na whose job is to make sure the illegals leave & i believe kaya nila eto.. mahirap pabagsakin ang US bcoz its people won't tolerate it.. marami pa ring mayayaman at matatalinong tao sa US who will stand up for the country in times of crisis besides most of the rich countries have stakes in the US too so kung pabayaan nilang bumagsak ang US, pati sila damay..

the world is already too interconnected for any one nation to be able to exist without the rest.

[qosmio]

Australian government lost $ 400 million and now there are considering to take a legal action against Lehman. I don't know where you got your figures...but that is not even close, expect the figure to go up to Billions. Australian government to sue Lehman...FOR WHAT??? There is no guarantee on investment...you lose...too bad.

Nowadays its not advisable to buy US shares... if you are thinking to jump to share investment I suggest buy Hong Kong, China, Canadian or Australian shares. Wake-up !!! Are you following the market? These are year to date changes for the countries you mentioned: Hang Seng (Hong Kong) -54.7, China -65, Canadian -33, Australian -40 & US -38. This is not a U.S problem alone...we now live in a global economy. Example: US economy is down (demand for tainted Chinese products will go down)...Chinese export to US will go down...Australian export to China will go down...everybody's down under :lol:

Whats happening to USA is their own fault, they created those problems by allowing high risk loans to be approved in the first place. I don't think the Americans are blaming the brits, the chinese, the martians:alien: or the aussies. But if you think this housing bubble (risky loan business) is limited to America, think again. Majority of the EU countries are also in deep Sh*t. Check Spain, UK and even Austraila. Last time I checked, Australia has one of the most "overvalued housing market" and "highest level of housing debt".

There is a strong evidence that USA shall become a third world country. On the other hand, China and India shall be the biggest economy by 2020. I don't know where you got your info...but please stop reading those anti American blogs. It is just plain Bullsh*t for you to declare China and India to become the biggest economy by 2020 without any facts. You must know somethinng that most economist don't know. Are you just basing that on the number of people? Are you aware about what's going on in those regions/countries politically & economically?

and lastly, an fyi...in the last Asian economic crisis (2005), the Americans actually "helped" saved the Australian economy by pumping much needed investment.*peace*

[me_bee_da7]

I don't know where you got your figures...but that is not even close, expect the figure to go up to Billions. Australian government to sue Lehman...FOR WHAT??? There is no guarantee on investment...you lose...too bad.

Wake-up !!! Are you following the market? These are year to date changes for the countries you mentioned: Hang Seng (Hong Kong) -54.7, China -65, Canadian -33, Australian -40 & US -38. This is not a U.S problem alone...we now live in a global economy. Example: US economy is down (demand for tainted Chinese products will go down)...Chinese export to US will go down...Australian export to China will go down...everybody's down under :lol:

I don't think the Americans are blaming the brits, the chinese, the martians:alien: or the aussies. But if you think this housing bubble (risky loan business) is limited to America, think again. Majority of the EU countries are also in deep Sh*t. Check Spain, UK and even Austraila. Last time I checked, Australia has one of the most "overvalued housing market" and "highest level of housing debt".

I don't know where you got your info...but please stop reading those anti American blogs. It is just plain Bullsh*t for you to declare China and India to become the biggest economy by 2020 without any facts. You must know somethinng that most economist don't know. Are you just basing that on the number of people? Are you aware about what's going on in those regions/countries politically & economically?

and lastly, an fyi...in the last Asian economic crisis (2005), the Americans actually "helped" saved the Australian economy by pumping much needed investment.*peace*



:rotflmao: it might be bcoz when America sneezes, everybody else catches the cold!! the other day when Wall Street was in the positive, the rest of the stock markets also went up & when Wall Street went into the negative, other stock markets were down even lower so it must be bcoz no country big or small can discount the clout & power of the US & where the US goes , they follow even if they don't want to.. when the US consumer started staying home & not driving bcoz money was tight, oil prices started to go down very fast & now OPEC is worried bcoz oil is their only important commodity which earns money & they import everything else; think about a scenario when the US consumer decides it doesn't want to buy any more chinese goods & with over population in China relying on most of their exports to the US, who do you think will lose? what if the new gov't replacing Pres. Bush will work to bring back US jobs that were exported out bcoz its people want them back home? what if the US consumer stops visiting other countries as tourists & decides spending their dollars at home? the US can survive bcoz it has plenty of farms & natural resources to feed its people & do not need to import food.. it has the best hospitals & staff to meet the demands of its own citizens & the best minds in science to invent whatever the homeland needs.. qosmio got it right!*okay*

[floreno]

^the problem is america is not only sneezing....may trankaso na ito and goes along with everybody

[luks7210]

:rotflmao: it might be bcoz when America sneezes, everybody else catches the cold!! the other day when Wall Street was in the positive, the rest of the stock markets also went up & when Wall Street went into the negative, other stock markets were down even lower so it must be bcoz no country big or small can discount the clout & power of the US & where the US goes , they follow even if they don't want to.. when the US consumer started staying home & not driving bcoz money was tight, oil prices started to go down very fast & now OPEC is worried bcoz oil is their only important commodity which earns money & they import everything else; think about a scenario when the US consumer decides it doesn't want to buy any more chinese goods & with over population in China relying on most of their exports to the US, who do you think will lose? what if the new gov't replacing Pres. Bush will work to bring back US jobs that were exported out bcoz its people want them back home? what if the US consumer stops visiting other countries as tourists & decides spending their dollars at home? the US can survive bcoz it has plenty of farms & natural resources to feed its people & do not need to import food.. it has the best hospitals & staff to meet the demands of its own citizens & the best minds in science to invent whatever the homeland needs.. qosmio got it right!*okay*

well said! *okay*

[shellfish]

Gaano kalala or ano ba ang paghihigpit ng sintoron ang ginagawa ninyo. Im just curios because i know what it is hindi ko lang alam kung ano effect nito sa middle class citizens ng nas First World. Dito kasi satin pag tag hirap talaga - gutom ang katapat. Please share your experiences.

family namin wala naman adjustments na ginawa. normal spending lang. wala naman kaming major investments and wala naman kaming lavish lifestyle na dapat i-maintain kaya ayos lang kami. job security, ok naman 'coz wala naman sa amin ang employed sa real-estate/banking/financial/lending industry.

at first, bad trip kami sa gas prices. pero ngayon bumaba na siya ng husto kaya go na ulit ang road trips.

IMO, yung mga super yaman lang ang apektado talaga. its true what they say, more money, more problems.

[shellfish]

Ang pinagtataka ko lang sa US govt. kahit saang gulo isinisingit nguso nila,gaya ng sa Afghanistan,Iran,Iraq at ngayon nga ay sa Russia,palagi silang nakikialam

it's all about foreign oil, honey.

yung sa russia and georgia, sinara yung oil pipe from georgia. so ang U.S., feeling superhero as always, came to the "rescue". :bop:

about iraq naman, ang mentalidad ng 'kano ay if there's a stable and peaceful iraq, wala ng threat to security. yan ang sabi nila ha?

[me_bee_da7]

it's all about foreign oil, honey.

yung sa russia and georgia, sinara yung oil pipe from georgia. so ang U.S., feeling superhero as always, came to the "rescue". :bop:

about iraq naman, ang mentalidad ng 'kano ay if there's a stable and peaceful iraq, wala ng threat to security. yan ang sabi nila ha?


there will always be a threat to national security as long as you are a world power, given na yan, so that is why when the US sees something broiling somewhere in the world that needs attention pinapakialaman nila bcoz of the fact that most developing nations may utang sa IMF & the main contributor of the IMF is the US so it is obviously protecting it's assets & yung ADB & World Bank also has the US as one of the main contributors.. ikaw ba, pag may pautang ka, gusto mo ba bumagsak ang negosyo ng nangutang sayo, diba ndi? so the US wants that the countries they have a stake in can run their countries in a peaceful environment which is condusive to business kaya pag may threat sa paligid sinesecure agad nila.. ang US kc ang inaatasan na secu sa mundo although this time i think they are thinking different na dahil sa mga pangyayari ngayon.. pag nagkataon, mahihirapan ang mga maliit na bansa na walang gaanong military to protect themselves from aggressions & criminality & people will realize what good the US has done for the world in general although i agree that the US being govern by humans are prone to mistakes in judgment just like all the other leaders of nations do.. yun lang! :)

[me_bee_da7]

when the US & it's allies complete their green projects that will run on alternative fuels plus kung palalaguin nila ang mga oil fields nila, maiiba na ang pakitungo ng US at allies sa mundo.. remember that the oil refineries are only in the US & it will take a lot of years before the Middle East can build their own refineries dahil ndi naman magamit yung raw oil nila for consumption without passing through a refinery.. mahirap mapabagsak ang US dahil most of the citizens are patriotic & will do anything to save their homeland even if they have to give up some luxuries in life specially if they become united for a cause -- this has been proven in their history as a people.. tingnan mo yang border sa Mexico, many citizens volunteer to watch the border with Mexico dahil ayaw nila na pumasok ang illegals so the gov't had to put up a wall.. the US is a great country bcoz of its people & i believe it will redeem itself from it's errors in past judgments!:)