Comments on: A lesson on recession

By: The Debt Helper

The Debt Helper — Fri, 07 Nov 2008 11:21:41 +0000

Great story, and it just goes to show that you shouldn’t always believe what others tell you nor what you see on the news. I think that to some extent the media is to blame for out current climate because they have talked us into recession.

By: RDS

RDS — Tue, 14 Oct 2008 20:18:32 +0000

I think that there is an element of “don’t stop buying our banjos because of all this doom and gloom about the economy” propaganda in this story. But I think that the overall message is sound. What I get from it is that you should be responsible with your finances, do right by your customer/employer, and use common sense. Don’t let the talking heads convince you to do something that doesn’t make sense for you given your financial situation. Make a financial plan, adjust it as necessary to suit your needs, and stick to it. And buy quality banjos.

RDS
http://financialvalues.blogspot.com/

By: Elizabeth

Elizabeth — Tue, 14 Oct 2008 16:59:40 +0000

This story sounds tailor-made for a company that manufacturers a “luxury” item in order to drum up some busines during a slow-down period. It’s also a jab at the “elitist” educated population — a lifetime of good, old common sense and hard work taken down by the ideological yet unrealistic educated elite. Pure propaganda.

By: Justin

Justin — Tue, 14 Oct 2008 15:44:00 +0000

Huh?

Is the man an idiot? On the first day of running out, you just order more the next day and apologise to the people that missed out the day before.

This sounds to me more of a lesson in not trusting that college is the answer to everything as well as a lesson in avoiding the self-fulfilling prophecies of recession.

By: hickss

hickss — Tue, 14 Oct 2008 14:31:53 +0000

I am no economist either but a recession is defined by 2 consecutive quarters of negative econimic growth. I don’t believe we have had 1 quarter of such growth yet. Is the economy growing at a much slower pace than the rapid expansion that we have had over the last few years. Yes. But the doom and gloom that you see and hear all day every day will make anyone that is not “in tune” to believe that we are in a recession. What do you need to do in times like these if you lose your job or have medical expenses….the same thing that you should be doing from the start and that is living below your means and not accumalating more debt. Far to often that person that is layed off will continue to live the same lifestyle they did before. I have seen it personally as my brother just went through this and was layed off for nearly 5 months but never sat down and adjusted his lifestyle. In fact his theory was that you can’t have a budget if you don’t have an income.

By: Kristen

Kristen — Tue, 14 Oct 2008 13:24:53 +0000

I’m not an economist, so I can’t say if there really is a recession, but I work for a non-profit credit counseling agency. What I can say is that we are seeing more people than ever before, and many of the people coming to us are more in debt than ever before. And it’s not all people who were simply irresponsible. Many of our clients lost their jobs or were sick and had medical bills. Now the increasing cost of everything else is pushing them over the edge.