Has the recession caused you to do something you thought you would never do?

[foidulus]

So it's been my dream for years now to go to graduate school in Japan to study computer science. I have been working a well paying job that I hate in a place I detest, but I finally had enough money saved up and passed the exam, only to have the economy crash.

I have enough money to live on, but if something were to happen to me or a family member, I wouldn't be able to afford to help anyone. I was also worried about find a job after graduation, who knows how long the labor market will lag the economy(if and when that ever recovers)

I couldn't say no(guess that makes me a whore ) to my job offering me a big raise in this economy, so I'm asking for a deferment. I never thought I would do that, but here I am. Anyone else doing stuff they never thought they would have to because of this crappy economy?

 

[Foxglove9]

We're in a recession?

 

[0098386]

Not personally but all the banks getting fudged up caused my folks to spend money, which resulted in a nice likkle MacBook as a gift, new shower, redecorating most of the rooms, new living room TV, fridge, HDD recorder...
Also stopped our plans for building a house on our land because of the current state of the housing market.

 

[steve2112]

Not personally but all the banks getting fudged up caused my folks to spend money, which resulted in a nice likkle MacBook as a gift, new shower, redecorating most of the rooms, new living room TV, fridge, HDD recorder...
Also stopped our plans for building a house on our land because of the current state of the housing market.

Actually, given the state of the housing market, it is a great time to buy/build. Prices are insanely cheap, and interest rates are very low. Of course, the job market, on the other hand, is an entirely different story.

 

[PcBgone]

Actually, given the state of the housing market, it is a great time to buy/build. Prices are insanely cheap, and interest rates are very low. Of course, the job market, on the other hand, is an entirely different story.

This is exactly what Im doing. I will be picking out our lot later this week and will be building a house on it. I have poor credit due to some financial mistakes Ive made a few years ago, however Ive been quoted a 4.75% rate which is excellent!

 

[kastenbrust]

Its caused me to not support my government anymore as their response to the recession has been to lower interest rates which is fairly stupid.

Its also caused me to take all my savings out of the bank as the interest i was earning on them is less than the tax i was paying on them, and to put the money under my mattress as its worth more for the first time in 80 years there.

 

[Tomorrow]

Its caused me to not support my government anymore as their response to the recession has been to lower interest rates which is fairly stupid.

Actually, lowering interest rates is the best thing the Fed can do to get people to spend money.

You actually did half of what was the expected result - pulled money out of savings. The goal is to get people to spend it.

With lower interest rates, people are (1) less likely to save, since spending is what stimulates an economy, and (2) more likely to borrow and spend, since spending is what stimulates an economy.

The recession of 1980-81 was made worse by the double-digit interest rates that abounded - it made more sense to save money than to spend, and it became expensive to borrow. Both of those kept money from changing hands, which is how an economy tanks.

 

[Music_Producer]

Its caused me to not support my government anymore as their response to the recession has been to lower interest rates which is fairly stupid.

Its also caused me to take all my savings out of the bank as the interest i was earning on them is less than the tax i was paying on them, and to put the money under my mattress as its worth more for the first time in 80 years there.

Try rewards checkings - I keep most of my money in there @ a 5% rate - not great, but better than regular savings.

 

[iJesus]

This recession isn't the current administration's fault. The U.S. tends to go into a recession every 20 or so years and in the early 2000's one was already brewing but it was only stalled by the war in Iraq. We've finally stretched our "economic recession cycle" so thin that it has hit us hard. The best thing that the administration could do was lower interest rates so that people would start spending again. Although some people tag Obama as being socialist, he's only put into practice the common pseudo-capitalist ideas that we're only aware of at the moment because of the current economic downturn.

Anyways, answering the OP's original question, my family put off buying a new RV so that we'd have an even larger "emergency reserve."

 

[Mr. Giver '94]

no

 

[xraydoc]

I didn't buy a new Mac Pro last week.

 

[airjuggernaut]

I'm down to 1 hooker from my usual 3.

Damn Economy!

 

[marbles]

Its caused me to not support my government anymore as their response to the recession has been to lower interest rates which is fairly stupid.

Its also caused me to take all my savings out of the bank as the interest i was earning on them is less than the tax i was paying on them, and to put the money under my mattress as its worth more for the first time in 80 years there.

Buy gold, silver and diamonds...never the mattress!!, ...silly buggers that humans are will always pay for something shiny