Economic Query #2

Emmanuel Dunand/AFP/Getty Images

Continuing grim news on the economic front, as unemployment is up and everything else is down - in the cellar, even.

Once again, I'm curious about what kind of economic effects you may be experiencing in your own life. Lost income? Dwindling IRA? Business closing?

I ask because, again, I have personally seen no effect at all so far, except much cheaper gas.

In addition, I wonder what people may be doing to prepare for the possibility of a really rough economic patch, like a long recession (hopefully not anything worse). We are watching our spending more closely, and looking to economize a bit this Christmas. We've talked to the kids about maybe having to do without some of the luxuries we've been accustomed to, and the importance of working together if things really go south. I have plans to buy a used chainsaw in the next few weeks and - with my son's help - cut up a large downed oak on our property for firewood. If we get a lot we may sell some, but the plan is to stack and store most of it. I have to say, it's a chore I look forward to. Chainsaws are fun, and nothing says "home" like a fire in the fireplace.

Sweet Wifey is also looking at doing some canning. She's borrowed some equipment and, if all goes well, we may buy our own gear and try to make a habit of putting back some vegetables and fruit every year. Like home brewing, it's certainly seems like a good thing to know how to do.

Comments

[pNielsen]

I'm with you on not really feeling it. Yes, the retirement account is dwindling, but I'm too young to really worry about that yet. Good time to be putting money into it, in theory.

Working as a self-supported missionary, one thinks about how hard times might be detrimental to personal financial support. The assumption is always that it's going to be harder to get people to give, and that was true to a small point when we started raising money six years ago in what was also a bad economy. But my wife and I have never been fully supported anyway, so this doesn't really matter either.

[Adam D]

I am also not feeling any pinch, but take a listen to the Catholic Answers Live episode "Finances in Troubled Times"

http://www.catholic.com/audio/2008/MP3/ca081107b.mp3

which aired Fri, Nov. 7th, and you can get a sense of the difficulties other people are going through.

It's actually kind of a sad show to listen to. I've heard the statistics about how Americans spend and borrow too much, but (being a frugal person myself, living happily within my meager means) it's still kind of a shock to hear people talk specifically about the financial holes they've gotten themselves into, especially with trying to pay for homes they never should have bought in the first place. An interesting episode.

[Celeste]

Howdy--

The economic problems are hitting a lot of people around here. My mom died this spring after a long illness, and I was caring for her. I now have to leave the family home. I inherited her pets, and promised to care for them for her. I can't afford to rent because rents still are pretty high around here and nobody wants to rent if you have pets. So, I am trying to buy a little place. Right now, if you can get a loan, it's much cheaper here to buy than rent. The neighborhood isn't the greatest, but the place is perfect and I am hoping this is where the Lord wants me. The street is only a block long, but there are four foreclosed houses on it.

So, people in my neighborhood are hurting. But I'm in California, and some of the worst areas for foreclosures in the country are only about an hour from here. There are foreclosed houses everywhere you look. Two on this block, one on the next, five down the street. Businesses are closing. The grocery store across the street now lights only one light in every three. The State is requiring its employees to take off one day unpaid each month. We are having "brownouts" at local fire stations. They close one fire station in the area for a day, and it rotates. Response times for fires are down, and every once in a while the fire crews will be an engine short. It's not a big thing unless it's your place that needs the fire crew.

I still have a job, for which I am thankful. But since I telecommute, if I can't find a place to live, I will be out of work, too.

So, if you have any spare prayer time, I and my neighbors could use a few.

[Tim J.]

Sorry to hear about your mom, Celeste. My prayers are with you.

[Jim Jankengt]

Chainsaws ARE fun!! I have a Stihl that I love. We heat our house with a wood burning stove. I just recently found out that there is a difference between a chopping axe and a splitting axe. If you use the chainsaw for cutting you might think about getting a splitting axe if you don't have one. We burn a lot of mesquite which is harder than hell to split with any kind of axe. But as my brother-in-law says, "You get warm twice when you chop wood." Have fun!!

[Mike]

I'm in Oregon. My employer had a round of layoffs last week and initiated a hiring and raise freeze a month ago. The largest employer in my county (a paper mill) just announced a reduction in January of 63% of its workforce (this affects many of my neighbors). Oregon's unemployment went up .9% from September to October.

So yeah, not great in my neck of the woods.