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How does your local economy feel?
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09-20-2008, 10:07 AM
Wall Street? Main Street?
What is the word on the street? Jobs? Debts? Local economy as you live it. Howzit? James Weatherford, Ph.D. 15-1888 Hialoa Hawaiian Paradise Park
09-20-2008, 10:42 AM
I talked to my older brother in L.A. the other day and was told this: Everyone he knows in L.A. got essentially the same letter last week from credit card companies. Whatever their credit limit was it was now reduced 90%. So a person with $100,000 credit limit now had $10,000. This was having an immediate negative effect.
I asked him why I hadn't heard this on the news.... he said it was well covered on L.A. news.
Assume the best and ask questions.
Punaweb moderator
09-20-2008, 10:56 AM
Locally home prices are down 9%, home sales off 15% on homes over 250K, unemployment up to 4.8%. Not hurt here in Utah as bad as elsewhere. Of course now that we want to sell, and move to Puna, it looks bad to us.
We bank with the CU and haven't seen any of the restrictions Rob mentioned. Moved all our 401K to interest income accounts 2 months ago, so haven't been bit by wall street too bad. 3rd highest gas price behind only AK & HI. dick wilson
dick wilson
"Nothing is idiot proof,because idiots are so ingenious!"
09-20-2008, 11:31 AM
09-20-2008, 11:50 AM
The major blow is that capitalism officially died Friday. Now we must live with a world where free enterprise globally is threatened and oppressed by the kleptocratic elite. Hawaii, as well as elsewise.
Actually, I think Hawaii is still in prime shape as compared to anywhere else. We haven't seen beans yet in terms of downturn. We're not even half way to the bottom, and that might be generous. That I promise.
09-20-2008, 12:15 PM
It is booming here in Houston.
I have a good back log of orders. Companies are having big problems finding enough workers. Welders, Machinist, Truck drivers, Office help and every thing else.
09-20-2008, 12:33 PM
During the five months, while trying to sell my house it's value, at least by my ability to do comps, fell by 28% (as did the price). I just hope it closes in 12 days as scheduled... I'm very nervous.
My 401k lost 22% this year, and even though I moved all the money into the safest bonds I could find, about a month ago, it's still going down... The bonds are losing money... I'm retiring and they're hiring me back as a contract employee, telecommuting from Puna, (Analyst/Programming for a utility, No Cal). So on that front I'm doing very well... I see no signs of job loss here or credit pull backs, here... And the way I see it unbridled, unregulated, capitalistic greed has created and caused what's happened... But, I do know that I don't know enough to venture a guess on the future or a fix...
09-20-2008, 02:16 PM
I've just lost couple of millions on the stock market[V]
___________________________
Whatever you assume,please just ask a question first.
09-20-2008, 02:20 PM
No biggie [  ] It's just a few zeros.Hope your portfolio recovers. *cough* Now I see why you are worried so much about how much everything costs here in Puna.[B)] ------- Just a piece of my thinking
09-20-2008, 03:12 PM
Costs. Jobs. Debts.
Yep. My kuleana is economics, OK? PhD, vernacular, all of it. No car repairs, music, dancing, building, art smart or other stuff like that. Gardening, farming, yes. Economics - I get the license. This weekend, the national economy is, well, in bad enough straits for me to say so. Local economy next week? next year? Costs. Jobs. Debts. Happy equinox  James Weatherford, Ph.D. 15-1888 Hialoa Hawaiian Paradise Park |
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