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Originally Posted by XXXTV Claire
Im sure you are correct, l learn something new every day.
Maybe you could give some outline of what your take on the situation is, it would be cool to get everyones view on what they think the year will bring for the industry.
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The industry is just a bit player.
My best hopes is to survive it intact and acquire what I can if the price is good enough. Mostly use the time to really lay low and build hard. I have always operated on as little money as possible and am very used to keeping costs very low. I know I can hold out some time with little to no sales (even though that is not happening).
I am seeing drops though and they are pretty steady in assorted sectors. For now they seem to be good around 20-30%. I am also seeing a lot of cancels inside of my billers with the reason - could no longer afford it.
I personally feel the real storm has yet to hit. We are just experiencing the small waves right now. A lot in my own opinion is on the false unemployment numbers we get to hear, when in reality not only are those numbers way off and super below the real numbers thanks to whom they count as unemployed and all of that crap - it does not even touch on the issue of people coming of age, exiting college, or whatever and attempting to enter the job market for the first time.
Toss in that the automakers are not out of the woods. The banks have still not all disclosed every penny of bad debt, and there are still a couple more years of interest only ARM mortgages that have not matured yet to still pop on the market. Plus hell nobody in my state is getting a tax refund check any time soon and the only ray of hope there is if it takes longer than May I think, then interest may kick in. Yet I do not see the government in California agreeing enough to get shit done when everyone and their brothers organization keeps butting in and trying to recall or strike shit. Which of course is almost certain to mean CA will soon tax internet purchases just like NY.
How is that for a mouthful.
Oh and PS since I live in Far Northern CA which pretty much waters the state. We are in our 3rd year of a drought and well the rain this year (what rain) and lack of snow pack. Has our lake and as I said snow pack at record lows. Which only means a big drought this year for CA. That could mean rises in costs to many food items country wide, and well fires - to a cash strapped state.