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How concerned are you about the current state of the economy?

Asked at Massachusetts Street on October 1, 2008

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Photo of Donna Jones

“I am concerned, but it’s very difficult to know exactly how concerned I should be without knowing the big picture or how and when it’s going to affect the middle class.”

Photo of Patrick Rogers

“Oh, very concerned. I’ve had people come to me that worked for mortgage companies whose entire office was laid off on Friday, and they are asking for prayers and looking for a job. I have already seen it affecting how people are able to give to their churches and charities.”

Photo of Nishta Dasta

“It’s not a huge deal to me, but then again I don’t have anything invested in the market. I’m just going to wait and see what happens beyond all the speculation.”

Photo of Bo Hartford

“It’s definitely something to be concerned about for people in my generation who are going to be buying homes and having families soon. Right now it’s just about loans, but soon it will be about jobs, pay and more common everyday things.”

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Comments

BigPrune 5 years, 10 months ago

Local banks have limited the amount they will loan, and it isn't a whole lot. That's pretty concerning.

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preebo 5 years, 10 months ago

Yeah... you could say I'm concerned. My 401(k) has taken a big hit. At least my money market accounts are secured now. I have also had to move some money into Treasury bonds at 1%. I am pretty close to putting my money in a mattress soon.

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Deja Coffin 5 years, 10 months ago

I'm concerned......but then again I worry about EVERYTHING. So just add it to my list and I'll make time to freak out about it sometime this week.

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sunflower_sue 5 years, 10 months ago

Not too concerned for myself, personally. I'm not retiring anytime soon, and I don't forsee needing a loan anytime in the near future. Sure, the IRA's are gonna look sad for awhile, but that doesn't bother me too much. What I'm really bummed about is that I don't have more to invest right now.

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BorderRat 5 years, 10 months ago

I liked the sign on Wall Street that said "Jump you F**kers."

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jaywalker 5 years, 10 months ago

Where I live..........- brand loaf of bread = $2.85- gallon of milk = $6.00- bag of Doritos = $3.85- gas = $4.09 - $4.39Yeah, I'd say I'm a little concerned.....Luckily, being in the home construction industry, I was able to see the writing on the wall 3 years ago and unloaded my house before the glut hit. I stopped by the neighborhood last month to see my old neighbor - - 12 homes for sale out of 50; 10 had been on market for more than a year and a half; 2 foreclosures on my old block. And this is a really nice neighborhood with great houses. My buddy figures his house has depreciated at least 80-90k with little chance to unload if he had to. Scare-hair-hair-hairy times.............

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beatrice 5 years, 10 months ago

Not so concerned that I kept and didn't sell my tickets to see David Byrne last night! 4th row center! Man he puts on a good show -- same as it ever was, same as it ever was. Besides, I still have the tunnels I dug prior to Y2K that lead to Mormon pantries around town, so I'm covered in case of a real emergency.

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stuckinthemiddle 5 years, 10 months ago

snap_pop_no_cracklea few facts... nasty little things that they are... the Federal Housing and Enterprise Regulatory Reform Act of 2005 http://www.govtrack.us/congress/bill.xpd?bill=s109-190 was introduced January 26, 2005 and on May 25th 2006... McCain went before the Senate in support of this Act: a year and 4 months after it's introduction: it is McCain's comments on the Senate floor in support of this Act that are considered his "warning" about Freddie Mac and Fanny Mae: the Democrats didn't take control of the House and Senate until January, 5th of 2007: nearly a full two years after the Act was introduced: and over 6 months after McCain's "warning" in the Senate: regardless of how many Democrats were dead wrong about Freddie Mac and Fannie Mae and regardless of how right the Republicans were... they controlled the House, the Senate and the White House... and they did nothing...absolutely nothing...

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tvc 5 years, 10 months ago

Not as worried as the government and media want me to be

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Meatwad 5 years, 10 months ago

Did anyone hear what Ron Paul said on CNN today? He says "No bailout". We need the market to correct itself and if we don't we'll be in for many more hardships down the line because the dollar will fall so low.Interesting. But I really have no idea. Maybe we are just bailing out rich people? Also on CNN, there was a millionaire guy who builds mansions (well, what I call McMansions) in San Diego. He was upset that his bank froze his $billion credit line so he can't finish all his McMansions. So there are all these unfinished McMansions way out in the burbs of San Diego. Boo hoo. Now he probably can only afford a 500 series BMW instead of a 700 series. Let's bail this poor guy out fast!

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SMe 5 years, 10 months ago

Be concerned. Be very concerned.

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PosseComitatus 5 years, 10 months ago

This bill is now 451 pages long. It is on the CNN website in pdf format. This thing is ugly. A new government agency that basically buys any assest that are loosing value to control deflation. It also has provisions for carbon credits, tax break extentions for corporations and many riders.

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Richard Heckler 5 years, 10 months ago

Only under republican administrations is the government a bad manager. Why? Because the republican crime families are always looking for ways to rip off citizens/taxpayers/voters. The republican crime family has some healthy criminal and conspiracy history.Why the democrats don't have them under 24/7 surveillance the day they show up for work(robbing banks etc) is way beyond me. Republicans have become professional criminals and get paid to do it. The republican crime family cannot be trusted!CRIME: Who has history with financial institutions going south such as the savings and loan scandal? http://rationalrevolution0.tripod.com/war/bush_family_and_the_s.htmRepublicans! McCain-the-most-reprehensible-of-the-keating-fivehttp://www.phoenixnewtimes.com/1989-11-29/news/mccain-the-most-reprehensible-of-the-keating-five/1There are many other reasons not to put republicans in office ever again. Republican presidents have some long history of big time crime taking place within their administrations. How do voters forget so easily? Crime against Vets:http://www.veteransforcommonsense.org/articleid/9559CRIME: What party is in the white house that went around the nation lying to citizens about Social Security? Republicans!http://www.dollarsandsense.org/archives/2005/0505orr.htmlWhat party is in the white house and has been observing the sub prime loan scandals, pretending nothing was wrong? RepublicansCRIME: Who hosted the Iran Contra secret illegal sale of weapons? Republicans!http://www.gwu.edu/~nsarchiv/nsa/publications/irancontra/irancon.htmlhttp://www.pbs.org/wgbh/amex/reagan/peopleevents/pande08.htmlCRIME: Who brought the nation Iran Contra number 2? Republicans!http://www.democracynow.org/2008/3/5/iran_contra_20_how_the_bushCRIME: Which party illegally spied on the democrats to win an election? Republicans! Watergate!http://www.washingtonpost.com/wp-srv/politics/special/watergate/index.htmlCRIME: Which party held secret energy meetings and refused our elected officials its' content and who attended? GW Bush and the republicans!CRIME: Which party lied to congress and the world,went against military advice and created the worst strategic blunder in the history of the USA aka Iraq War? Republican Party!Which party has held secret oil deals with Saudi Arabia?Republicans!http://www.democracynow.org/2004/4/20/did_bush_cut_secret_oil_dealCRIME: Secret Oil deals for Iraq Oil- Republicans!http://www.pubrecord.org/nationworld/262.html?task=viewCRIME AGAINST THE ECONOMY: Which party introduced voodoo economics into our system? aka Reaganomics. Republicans!Who still practices Voodoo economics? GW Bush and the republican party!

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jayhawklawrence 5 years, 10 months ago

These obscene housing price increases seem to have occurred (in the worst cases) in major urban areas. The Las Vegas housing price increase was directly related to organized crime activities manipulating real estate prices in the area (this was the major story there last year anyway).When you look at a state such as California and the way they have been avoiding their responsibilities fiscally, I have wondered when we were going to be punished for their indulgences. It seems we are getting hit with an attack of dumb people lately and they are on TV all the time. For example, why is everyone shouting "Hoorah!" whenever we talk about getting the Russians out of Georgia. We don't even know anything about Georgia except that we are in a hurry to send them our tax dollars! What happened to the concept of countries taking care of their own problems!!! We should wash out every politicians mouth with soap who starts blabbing about starting conflicts on the other side of the planet and we should demand to know what the real story is. Follow the money...NATO may not be such a good idea anymore.Don't our politicians get it. We can't win a war in Georgia! We can't even get soldiers to send to Afghanistan! We were lucky in WWII and WWI. We might not be as lucky next time. We do not have any guarantees about winning wars and we will have a very tough time if China and Russia decide to kick our butts. STOP AND THINK before letting these guys talk tough with our children's lives at stake.Stop trying to BUY friends with my money.I would bet any amount of money that most of these large corporations could be better run by an experienced guy off the shop floor and for a LOT less money. But they don't have the right initials behind their name tag. They are not part of the right crowd so they don't count.Most Americans feel these things in their gut and are looking for more sensible and responsible leaders. My vote is to get rid of the extremists whether they are right wing or left wing and get rid of most of the incumbents.

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Meatwad 5 years, 10 months ago

Jayhawklawrence wrote:"It seems we are getting hit with an attack of dumb people lately and they are on TV all the time. For example, why is everyone shouting "Hoorah!" whenever we talk about getting the Russians out of Georgia. We don't even know anything about Georgia except that we are in a hurry to send them our tax dollars!"Good example. Does anyone realize that the Russians are out of the main part of Georgia and are only in South Ossetia? The South Ossetian people do not want to be part of Georgia. There are no Georgians there. They want to be independendent but protected by Russia. The Georgians attacked South Ossetia to try to kill the people who want independence from Georgia. The Russians were waiting for and provoking this attack, but the Georgians fell into the trap. I'm not saying helping Georgia is wrong... but the whole story NEEDS to be understood before we jump to throw our money at people.Read the BBC news and listen to NPR, not CNN if you want real news.

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sgtwolverine 5 years, 10 months ago

Since what I produce is a luxury and not a necessity, I have to be concerned. But the Michigan economy has been in the tank for a while, so this isn't a new concern.

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