Portland, Tennessee Blog

I just saw Henley shirts on Amazon.com for 15.99.

Henley's - $50.00 ??? That is a staple for our family . . . and at that price would cost our family $300.00 just to have one each . . .almost $1000,00.00 (when you include tax) for three shirts each. (not to mention the medical bills I would incur from the coronary I would have if anything happened . . . stains, rips, loss)

Yes, it is unfortunate. I would gladly buy American if it wouldn't put me in bankruptcy.

Well, Michelle, I hate to hear that said, because I really believe, with most people, it's not so much as matter of not being able to afford American products as it's just not taken that seriously, that people don't understand what they are doing when they buy whatever it cheapest. Sometimes, it's really hard to find American made products, but I believe it's the most important thing we can do right now...and even if does cost a few dollars more...I'd rather support the American economy than China's or some other communist or third world country where those products are made by child labor and the people are only paid 50 cents a day to make whatever it is. It's more than just the price of the product to me.

The war that's being waged on the middle class is working, isn't it ?

Yes, your're right....it's a very sad situation.

DeeAnna,
I know there are others, but after looking at the site connected with the link you posted, I have determined that I can't afford products Made in the USA. (sad and funny at the same time)

Amen to that....Buying "Made in USA" should be the first priority.

I found a good website for Made in USA prodcuts...there are a lot of them, by the way, but I thought this one was good.

www.madeinusaforever.com

The last recession was right after 9-11 according to CNN and most people didn't even notice. Every time I go to opry mills it seems to be full of people spending money. When I get my check I'm going to spend it maybe I can help someone keep their job. That is what it was meant to do.

We all should spend some of it but spend it on products MADE IN THE USA.

The housing market is the problem right now and it's because they built to much to fast. The demand for house's just needs time to catch up with all the surplus new homes. Look at all the new homes for sale here in Portland just to many to fast.

Remember buy MADE IN THE USA if you spend your check.

Chuck and GW,
I apologize again for my poor attempt at humor. I really didn't mean for this to get us off the topic of the economy. I'll be more careful in the future. And back to the topic......

Sorry if I sound harsh on my last post, when I first read the postings I thought it was someone making trouble using my name as chuck. I miss-read something I think. If this person meant no harm I'm sorry.

I do however want to address something I overlooked. While I mentioned I had experience in MMORPG's that did not mean I have no degree in anything. I have a degree in my profession of my choice. I'm not some bum who plays games 24/7.

If you don't know what MMORPG's are you should look into them. They are games that you play online with other real people. You talk, you do things in game together, sometimes you just role play, other games you kill bad guys, some are like medieval times and others are futuristic, each game is different. This also isn't something new, I know plenty of people personally who play these from ages 12-55. MMOs are also usually a smart person's video game, you tend to find very intelligent people in these game formats. However they can become addicting.

Ok the second post by this alleged chuck is not me, I am the real chuck and did not respond to GW, sorry whoever this trouble maker is, I have my suspicion as to who but will not name names unless needed. My one and only post on here was the original MMORPG post and that's it. nothing else.

Saving that check is a good idea....because everyone who can has their hand out for it, or are busy thinking of ways to get it.....LOL LOL

Tim, your post was very well written and well thought out, and you are absolutely correct on every point except one . . . tax "credits" are not counted as "income" . . . not in the year you take it, not the following year, not ever.

I am not an accountant and I don't want anyone to just take my word for it. I recommend that you consult a tax professional. (which is what I did)
Taxes are confusing as it is and this particular measure is causing a LOT more. I found out we can only expect approximately 420.00 - which we are going to SAVE. lol

After reading all the replys on this post I found it interesting that everyone is still calling it a "rebate" check instead of the "income credit check" that it is. Its actually a credit toward next years return if I understand it correctly. The good news is, once again, if I understand it correctly,if they give you too much you wont have to repay it next year but if you're due a return next year it just wont be as big. And you have to count your "rebate" as income on this years taxes. So no, I wont be running out to stimulate the economy. I'll put it in the bank for a rainy day.

On one of the first posts someone mentioned people blowing their money on drugs, alcohol and strip clubs. Its funny because I mentioned this,minus the drugs and alcohol, to my dad the other day as a joke. Nothing stimulates the economy more than pimps trying to outspend each other!!!LOL.

As far as a recession goes I dont listen to what any of the media says cause they are all biased and will put their slant on it as they see fit. I just know how things are at my house, and things are tight. Chuck makes a good point about supply and demand and the oil company's right to make a profit. But the cost of oil and gas effects every aspect of our lives, form filling up the car to buying groceries. I for one have been forced to reevaluate my priorities due to the high price of fuel. For instance, I dont go out as often as I used to. I cant afford to once I go to the grocery annd fill up with gas at Mapco or BP. Its just a small sacrafice on my part but when enough people take these same actions its bound to affect the economy.

Chuck II ...thanks for the apology...I guess it just stung a little due to the fact that I don't even know what those games are...anyway, all is well and we can always hope for better things in our economy's future.

GW,
I apologize if my comments offended. I intended to put one of those :) at the end to show I was joking, but apparently I did not.

I think there is another "Chuck" posting, and I was confused by the MMORPG posting and thought it was yours. Again, I'm here for the same reason, and really did not mean any offense.

I'll start posting as Chuck II to avoid confusion, and look forward to future discussions.

Cheers

Yes, instead believe what they tell you on Fox News. That everyone losing their jobs and the fact the U.S. dollar is at nearly an all-time low is not really that bad...

Chuck or whoever..Apparently I am confused as it appears to me that "Chuck" posted the he plays the MMORPG's and then posted to GW that their time playing the MMORPG's could be better spent..I think you may have mis-addressed the post to me (GW), as I don't even know what the MMORPG's are, thus I have never spent any time at the site playing the games...however, I'm quite sure my level of intelligence is comparable to anyone else's coming to this site and resent being insulted. We can all come here and state our opinions without suggesting someone needs more education in any area. If there is a misspelled word, or poor grammar, or just an obvious less knowledge in a particular area than someone else has, it doesn't mean the rest of us are geniuses either...I agree with many statements from many people, I also disagree with many statements from many people, but I truly try not to imply that my thoughts and opinions are better than anyone else's. All any of us are doing here is verbalizing thoughts and opinions! As for my degree, its just fine! gw

a recession is a "A period of general economic decline; specifically, a decline in GDP for two or more consecutive quarters."
; we have not yet had that!

quit drinking the kool-aid of 2, 4, 5, PBS, CNN & NPR

If I remember correctly, there is bipartisan agreement that the country is in serious trouble. And if for no other reason than it had the support of both parties, I don't see how one or the other would gain any type of advantage. So much for the pandering theory.

And why would anyone lie about a recession? There is absolutely NOTHING to gain from a declaration such as that. If anything, it causes people to be more cautious with their spending.

What stats are you referring to? What is your source? Believe me, if you have credible information that trumps what the experts are reporting, I'd LOVE be relieved of my worries.

Because leading economists know what a recession is and say we are, that's why.

A quote ---

In the last quarter, the credit crunch had started to inflict serious damage on US companies, characterised by slipping sales and tightening credit. Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and severe problems for consumers as the housing slump spreads. Also, Nouriel Roubini, a very respected American economist, of New York university thinks there will be a recession, and worse still, he thinks it will be “nastier, deeper, and more protracted” than the 2001 recession.

What is going on in the economy is not pandering for votes.... it's real and it's serious.

Why does everyone think we are in a recession? If people would look at the actual stats instead of the news reports and the politicians pandering to get votes.

No, I don't think the rebates will have any effect on anything. Thwart a recession ? NO. I think we are already in a recession. Too late for that.

I don't know what our plans are for our rebate, yet, but we have decided that helping China's economy is not good.....so we won't be buying any Chinese products with it, for sure !

GW,
No offense intended, but your time spent on MMORPG's might be better spent getting that degree.

Since I'm not familiar with this game, or what "quest payouts" are, I can't understand how they push the poor into the middle class. It almost sounds as if they are similar to government handouts, which as our own history has shown does nothing to help the poor climb the financial ladder.

You're understanding of Wal-Mart prices is completely wrong. They artifically deflate prices making it nearly impossible for smaller, "home-grown" retailers to compete. You also rarely hear about the hidden costs many communities pay when this monster arrives. Their wage and benefit packages are so poor that many employees have to resort to state or Federal assistance to make ends meet, and to get affordable medical care. We pay the tax dollars that fund those programs, not Wal-Mar. In addition, Wal-Mart has received over one billion dollars in development subsidies that make it even more difficult for local retailers to compete. I won't even get into their record of environmental fiascos.

Well, I got off topic for a moment, but the bottom line is that our economy is not going to be helped by expensive government handouts, especially when many of these handouts are going to people who don't even pay taxes. The government needs to keep corporate taxes down to encourage growth, R&D, and allow them to remain competitive in a global economy. Individual tax rates need to be fair (which they are not) and the government needs to STOP SPENDING LIKE DRUNKEN SAILORS!

Chuck -- I think you nailed it with the "I need it" statement. I doubt very seriously anyone will return their check, no matter what they think about how or why they got it. Most of us do need it regardless of what it will or will not do for the economy. We could all gripe all day and all night about this one or that one and what they do or do not do, but the bottom line is, like someone else said, we have to start with ourselves first to make a change. A new President isn't going to change how much fuel we consume, or how much we spend eating out, or how much we spend on the "niceties" that we have all become used to. I'm paying $75 per month right now just to watch television...back in the day, it was free...now I have to have a house phone and a cell phone (approx $150 a month for the 2), these things add up and the more I buy, the more they cost...again, "supply and demand."

I dont have a college degree in business or know a whole lot about the economy but I have experience in one area. I play MMORPG's (that's massive multi-player online role playing games) and there are economies in most of these games. In each and every one of them there occurs inflation. People get rich and prices go up on rare items. The game developers feel sorry for the poor players and start raising quest payouts and such causing the poor to become a middle class, and the rich just get even richer. The only games I've seen an economy work in are the ones that dont raise payouts. It's just like minimum wage, keep it lower and you will have more success than raising it. The rich are rich because they are either very lucky in life or work themselves very hard. Wal-mart in fact has been said to help the economy by keeping prices lower so that other companies don't continue to raise prices, it forces competition to keep things affordable. It's sort of like a necessary evil I think.

While I'll take whatever money they think I deserve because I need it, I dont really think it's ever gonna help the economy in the long run.

If you play online games you might understand where my analogy is coming from, if not get into it you might find it interesting. These online games quite often reflect the real world in more ways than you'd think.

Well, its not like they are great big checks anyway....I'm all for getting back anything I can, cause' Lord knows I'm payin' enough in! And, yeah, Daniel, Wal Mart will get plenty of money out of these checks...As for the economy in general, it is never going to be great, so I plan to downsize my own life's needs and live more within my means, which are quite minimal. I have decided that houses and mortgage payments are for the young, and living in a modest apartment will suit me better by allowing me to spend the money I will save enjoying fun times with my kids and grandkids....someone else can worry about mowing the lawn, mulching the shrubs (have you bought mulch lately???), repairing the AC unit, etc. I am happy for everyone receiving a small bonus, we all deserve it and I am in no position to judge how other people spend their money or whether they should get it or not...if they are an American citizen, I say they've got it coming...

Everybody is going to spend their rebate checks at Wal Mart on Chinese products, so at least it will give their economy another boost courtest of the USA...haha.

Bush is making the Oil companies record profits? Please give me a break.

And Al Gore invented the Internet too.. At least the news said something to that effect.

The Economy is in a correction cycle. People bought houses they couldn't afford (now they're losing them). I'm sorry but I've no real sympathy for someone buying something they should have known they couldn't afford.

And no the rebate checks won't help. They are just a feel good solution (like raising the mim. wage was).

"what a mess", the oil companies are easy targets for our anger at high gas prices, but there are a few questions we should ask before placing all the blame on them.

Why have we not built a new refinery in over 30 years? Why have we not been able to tap into proven oil reserves in ANWR, the Gulf of Mexico, and off the California coast? Are we as individuals doing anything to reduce demand?

If you look at the answers to these questions, you'll see there is a lot of blame to go around. If I owned an oil company, or any type of company for that matter, I would do everything within the law to make sure the company maximized it's profits. If I was a shareholder or employee, I would also want the company to make as much profit as it could. I hate paying the high prices, but I sure wish I worked for one of these oil companies.

Shouldn't the oil companies be able to charge whatever the market will bear? I find it disturbing that we want to crucify them for making big profits, while we maintain an attitude of entitlement. If we as a society are truly bothered by the oil companies huge profits, we would trade down to smaller cars, push our public representatives for more and better public transportation options, use public transportation, and stop buying 5,000 square foot mcmansions for 4 people families. If someone wants to drive a Hummer and live in a huge home that requires a lot of energy to heat/cool, then he or she should stop complaining about the cost. ExxonMobil and the like are businesses. If we really want them to drop their prices, we need to cut our demand of their products

Well, the rebate checks are really going to help us out. We are still getting bills from our baby's surgery, so that's where our check is going. I worry that these checks are just delaying the inevitable though.

By lowering the interest rate, which has been drastically cut, and putting more money into the marketplace, while helping out individual families, the laws of supply and demand dictate that this will actually cause inflation.

These corrections that happen, are supposed to happen. It is one thing that keeps inflation from getting out of control. So we give people money to spend, and lower the interest rates which will cause the folowing things:

1.) The government will be operating at a greater deficit.
2.) The value of the dolar will most likely descrease.
3.) People are going to be taking out more loans during an economic downturn.
4.) There will be a temporary market upswing as people spend the money and businesses re-invest, but eventually, the market has to make a correction, and the longer we delay it, the worse I think it would be.

Even though I will be glad to see the check, I also worry about the long-term effects of what the government has done. **I guess I shouldn't worry, the government does such a good job of planning for the future, just look at the Social Security system. ** how do you convey sarcasm in type?**

Hey Frank It's ok gas prices are high, all you say is "well that S_ _ _s" while record profits are made by oil corp. I suppose the media created that too!! Maybe they should of issued mass transit money cards, use mass transit to and from work, for 1-2 months, hit oil co where it hurts! Oh I forgot Bush had to sign this bill!! No the economy isn't as good as it was 3-4 years ago as you said, and look at our congress and president during this time!
Yes I agree Chuck "What a Joke"

My $ will go to savings.

Ours will go right into our IRA's.

Frank, you really hit the nail on the head! The media is absolutely causing a good deal of the panic concerning our economy. If anyone is interested, look back at the economic cycles our country has gone through (bear vs. bull) and you will see that we are long overdue for some correction in the market.

Will the stimulus package help? Not really. For one thing, as this blog shows, not everyone plans to go out on a mini-spending spree. The tax cuts for businesses are always a good thing, but they are not that significant.

Another factor that I believe is responsible for the markets uneasiness is the current election cycle. If you owned a large business, would you be looking to grow/expand if you knew that you may be getting ready to get slammed with additional taxes? The Democrats have made it pretty clear that they plan to punish big business and that can do nothing good to the economy. It will also hurt in ways that you don't hear from most of the media. If businesses are hit with greater tax burdens, who do you think will pay in the end? We will! Job losses, reduction in employer matches in retirement plans, etc. They can say they want more money from the big bad corporations, but in the end we'll be made to suffer.

In the meantime, Congress and the President can pose for pictures and assure their constituencies that they have helped the economy in an effor to keep their seats. What a Joke!

Frank, RIGHT ON!

Dontmakemelaugh, I hope that I can get out of debt all but my house this year, too. Let's root each other on! Are you a Ramsey guy?

Btw the media has predicted 2 of the last 36 recessions.

Honestly the economy is not in bad shape. Numbers across the board have been pretty good, but this is an election year and the liberal biased media is trying to scare everyone to voting for Hiliary or Obama.
Umemployment is still at 5% which is considered full employment. Basically people bought houses they couldn't afford and they are now suffering. Plus the banks handed out bad loans to people who couldn't handle the loan. Why should the tax payers bail these people out.
Well the gas prices suck, but we are still paying them.
This is the only country in the world were slow growth in the economy is considered bad. The economy isnt what it was 3 or 4 years ago, but its still doing great. Please don't take the evening news so serious. It's all about ratings and having an agenda.
I don't think everyone that doesn't pay taxes are bad people. But if these checks are there to so call help jump the economy, thats what they should go to. Not saying all people in New Orleans were doing bad things, but a lot of people were going to casinos and strip clubs and using those goverment credit cards. I think there is better use for our tax dollars.

Honestly the economy is not in bad shape. Numbers across the board have been pretty good, but this is an election year and the liberal biased media is trying to scare everyone to voting for Hiliary or Obama.
Umemployment is still at 5% which is considered full employment. Basically people bought houses they couldn't afford and they are now suffering. Plus the banks handed out bad loans to people who couldn't handle the loan. Why should the tax payers bail these people out.
Well the gas prices suck, but we are still paying them.
This is the only country in the world were slow growth in the economy is considered bad. The economy isnt what it was 3 or 4 years ago, but its still doing great. Please don't take the evening news so serious. It's all about ratings and having an agenda.
I don't think everyone that doesn't pay taxes are bad people. But if these checks are there to so call help jump the economy, thats what they should go to. Not saying all people in New Orleans were doing bad things, but a lot of people were going to casinos and strip clubs and using those goverment credit cards. I think there is better use for our tax dollars.

I think they waited way too late to try to do something to jump start this economy. Look at the foreclosures, my word record highs, and the housing market dropping like a rock! Why couldn't they of done this 3 months ago when people had the need and a reason to shop!! I see people being smart and tucking it away for tougher days yet to come.

How can the government put restrictions on this money Frank?? This is a free country remember. Do you think all people that don't pay taxes are a low life? Wake up from this nightmare you are having.

Maybe they should just send out gift cards to Wal-Mart.

I will be paying bills with the money. This is the year I get out of debt except for my house.

I think these rebate checks are a bad idea and wont help much. Basically this rebate check is buying votes, your going to have Democrats and Republicans standing around patting each other on the back saying how they are fighting for the middle class. A lot of undeserving people are going to get these checks. Why should people that don't pay taxes get a free check to go blow on drugs, alcohol, or at there favorite gentlemen club. I believe there should be restrictions on how this money is going to be used to help start the goverment. Like at a department store or maybe a website that sales computers.

We are planning on using half ours for a summer vacation and the rest for savings account. Although it would be nice to go on a shopping spree, it seems like a really stupid thing to do considering this money really needs to be given to us for suffering through $3 gas prices and ridiculously low paying jobs..which doesn't look like will change anytime soon! This money is going to hopefully keep me from having an ulcer the next time we spend $50 filling up our van! :)