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Author Topic: It's the economy, stupid!  (Read 69344 times)

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Catloaf

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Re: It's the economy, stupid!
« Reply #280 on: February 09, 2009, 06:53:57 PM »

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Fredward

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Re: It's the economy, stupid!
« Reply #281 on: February 09, 2009, 07:22:39 PM »

Decadence aside, that's quite a few people employed in the service industry for every wealthy banker.
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It's never easy to tell just where the line is between physical malady and the general crushing horror of life itself.

Mongrel

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Re: It's the economy, stupid!
« Reply #282 on: February 09, 2009, 08:23:09 PM »

CRY ME A RIVER.

A RIVER OF TEARS.

Edit: One dollar for evey job lost in January.
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Brentai

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Re: It's the economy, stupid!
« Reply #283 on: February 09, 2009, 08:47:37 PM »

The author apparently understands but doesn't bother to convey the fact that higher-level execs do not make the bulk of their income from their salaries.  You could cap their pays at $50k and still only be irritating them.

Irritating them to the point where they'll fuck with shit, of course, but still.
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Thad

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Re: It's the economy, stupid!
« Reply #284 on: February 09, 2009, 09:05:53 PM »

Well, if their stock's in freefall, they're going to start caring more about their salaries.
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SCD

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Re: It's the economy, stupid!
« Reply #285 on: February 09, 2009, 10:07:38 PM »

I just want to take this time to come out and say it:

I use a local credit union.  I always have.

It has been my second bank - one in which those who run it are elected. 

Mine's doing pretty good right now, the name is "Coast Capital" and I would highly recommend using it if you end up living on Vancouver Island. 

Banks are still around because of the people who use them.  And they fuck their customers around, even as this recession hits. 

So why are people still using banks?
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McDohl

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Re: It's the economy, stupid!
« Reply #286 on: February 09, 2009, 11:04:55 PM »

Why do you think I jumped at Navy Federal Credit Union's continued service to me, both because I'm a veteran and the fact that I'm a government contractor?
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Ocksi

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Re: It's the economy, stupid!
« Reply #287 on: February 09, 2009, 11:22:58 PM »

i work for the second largest credit union in the country.  it's entirely based in nc (the north carolina state employees' credit union) and has certain requirements to become a member, but there's something great to be said about offering virtually every service (we won't do investment stuff.  it is more risky) a commercial bank offers without the fuck-you fees for lower-income folk and, in the current market, better rates (we always offered better on loans, but our cd and savings interest have been tops in the area for more than a year) that can really help people out.

also no sales as a result of non-profit status, but the best part is that all our mortgages and loans have always been by the book, so while virtually every bank is tanking for their stupid get-rich schemes, our organization has been growing even faster.  it also helps that our clientele is mostly teachers and government employees, so they have relative job security, which helps us promise fiscal security.

the only downside is that if shit keeps tanking, my personal job security is vaporized by nationalized banking.
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Arc

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Re: It's the economy, stupid!
« Reply #288 on: February 10, 2009, 05:19:34 AM »

So why are people still using banks?

Dim awareness of credit unions?

If not for the prime consolidation deal I've been given this week, I'd have left my bank when they started making due dates a week before the end of the month.
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Cait

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Re: It's the economy, stupid!
« Reply #289 on: February 10, 2009, 06:02:42 AM »

Yeah, I just moved my savings out of BoA to the local credit union because they were offering 750% of what BoA's interest rates were. Once I get things stabilized there, I may end up making it my primary account, though BoA does make certain things easier.
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Burrito Al Pastor

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Fredward

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Re: It's the economy, stupid!
« Reply #291 on: February 10, 2009, 10:09:23 AM »

Mine's doing pretty good right now, the name is "Coast Capital" and I would highly recommend using it if you end up living on Vancouver Island. 

Coast Capital's on the mainland, too. My dad and a few of my friends are with them. I'm with TD mostly because I'm living on two sides of the country, so a nationwide bank is pretty much essential.

Also, though I'm not too well-versed in the issue, aren't Canadian banks more stable than American banks? Something about the government having more to do with them? (I'm not being facetious, I just can't remember what they told me in high school social studies)
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SCD

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Re: It's the economy, stupid!
« Reply #292 on: February 10, 2009, 12:20:27 PM »

Yes.  Canadian banks are better regulated, but still treat their customers like fleas with the "Fuck you" charges.  I have an account at RBC for money transfers between banks, but I promptly keep my balance at 5 dollars for the longterm. 


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Thad

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Re: It's the economy, stupid!
« Reply #293 on: February 10, 2009, 05:11:57 PM »

The simple answer in my case is that my grandparents have a fair bit of money in their BofA accounts, and if I ever have trouble with mine, they can smooth it over pretty much effortlessly.

My grandfather's the kind of guy who can walk into BofA in a T-shirt, a baseball cap, and cutoff jeans and command respect -- because he's there every day.
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SCD

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Re: It's the economy, stupid!
« Reply #294 on: February 10, 2009, 07:14:34 PM »

T Fredward:  Expect to see greater cooperation between BC credit unions.    Only by allowing honest-to-gods face-to-face transactions with tellers of other credit unions half a nation away will they be able to become a real competitor to the banks.  What you have there is the CU's only obstacle to complete credibility.
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Brentai

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Re: It's the economy, stupid!
« Reply #295 on: February 10, 2009, 07:55:25 PM »

I worked for Wells Fargo, so they give me ridiculous interest rates.
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Thad

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Re: It's the economy, stupid!
« Reply #296 on: February 15, 2009, 10:58:00 AM »

Of course, I still express extreme skepticism that eight hundred billion dollars of pork will help anything, but that is neither here nor there.

Continuing this conversation over here, because this is a better thread for the "Will the stimulus work?" question.

First of all, "eight hundred billion dollars of pork" is a pretty big exaggeration; in addition to the $246,869,000,000 in tax cuts, a breakdown of the spending shows quite a lot of that money going directly toward things like job creation and unemployment insurance, which are pretty clearly relevant to a failing economy.

As for the rest, it's not all perfect.  I've thought the "give everyone a check" part of it was stupid from the get-go; that's not going to stimulate the economy.  People who need the money are going to spend it on rent; people who don't, well, don't need it.

And there are plenty of lines in there that aren't really directly relevant to the economy and are pet projects.  Some are things I agree with, some aren't.

As far as the notion of pork -- that's a matter of perspective.  The truth is that states elect representatives to look out for them, and what looks like pork to somebody in one state may look like something desperately needed to the people who are actually receiving it.  Arizona's budget is in pretty miserable shape right now, and one guess where the first and deepest cuts are going.  Hint: the stimulus plan has $48,420,000,000 in federal money going toward it.

All that said, if you don't expect the stimulus to help, what would you recommend as an alternative?

And if you say "tax cuts", I will hit you.
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Brentai

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Re: It's the economy, stupid!
« Reply #297 on: February 15, 2009, 12:25:40 PM »

Ah ha ha if only this bill were passed last year I'd have enough money to finally move to San Diego.

::(:
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Norondor

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Re: It's the economy, stupid!
« Reply #298 on: February 15, 2009, 12:48:19 PM »

If only this bill were passed last year, i would not be facing death in a week.
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Arc

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Re: It's the economy, stupid!
« Reply #299 on: February 15, 2009, 12:57:47 PM »

If only this bill were passed last year, I wouldn't have to be working as a hitman in a week.
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