How bad is it?
- Thread starter pa mt man
- Start date
Tom
New member
Other than loosing lots of my future retirement last year in stocks, things are busy for me, but I do statistics for lots of different people here. Only the top 7% of National Institute of Health research proposals are getting funded, that makes those research funds hard to come by.
Nut
New member
I was laid off today.
JASON LEE
Member
Sorry to hear that Fred.
Things are bad here.....
life will go on though.
Things are bad here.....
life will go on though.
TBinKodiak
Member
Sorry Fred, hopefully it won't last long.
Well since I'm in economic development I'll add some insight on what Kodiak's outlook is. Luckily for me Alaska is the only state to not be in recession. Unfortunately we expect to be entering it this spring. As usual the rest of the U.S. will be out of the recession while we are still stuck in it.
Fish is King in Kodiak, we are the 3rd lagest fishing port in the U.S, so our economy runs off harvesting and processing. Ex-vessel, what the fisherman is paid, cod prices last fall were $.65 a pound and in January they were $.33 a pound. Halibut is supposed to drop from around $4 a lb to $2.50 and salmon will probably drop but how far is yet to be seen. There are buyers for cod, but the European banking industry is worse off than we are. Luckily diesel went from $5 this summer to around $3 a gallon now. Also black cod (sablefish) and some of the other Japanese/asian market fish are holding fairly steady. Japan went through a banking recession in the 90s so they aren't being slammed as hard as Europe and North America. That isn't very reasuring though since 1/3 of our fish goes to domestic markets, 1/3 goes to Europe and 1/3 goes to asia, which Japan is the largest buyer. Tourism, our other main industry will more than likely take a hit. We are going to 24 cruise ships this year from 15 last year, but cruise ships don't really bring in much revenue. Expecially if the people on them are worried about spending too much money.
Only other "industry" here is the coast guard and those 1200 jobs are pretty much guaranteed.
I understand its just a business cycle and its needed and unavoidable. I also understand that Gov't needs to spend and reduce taxes during recessions, and tax and save during prosperity (something we seem to forget). It makes sense really, why should gov't be paying to build when everything is at a premium. Now is the time to make upgrades, when labor is cheap and the work is needed. My hope is that our leaders spend to create jobs and build our future (infrastructure) and not to line the pockets of their friends. I don't think it needs to be $800 billion, but gov't does everything big. If at least $400 billion of that goes to creating jobs, we'll be out of this mess by the end of summer.
Anyway, my life may get hectic, but I should have a job and my wife works at the college so she's safe. I also grew up in a farming community during the 70s and 80s so basically I grew up in a recession. I still remember neighbors losing family farms and all the auctions where they were basically giving away high end equipment. If it comes down to it I'll eat a lot of fish and grow veggies in the back yard.
P.S. If things get really bad our processors are always bringing in labor from asia and eastern europe to work. It's only $8 an hour but its 12 hour days 7 days a week, I won't feel too bad until I see Americans filling those jobs. Hell maybe I'll be working one soon enough.
Well since I'm in economic development I'll add some insight on what Kodiak's outlook is. Luckily for me Alaska is the only state to not be in recession. Unfortunately we expect to be entering it this spring. As usual the rest of the U.S. will be out of the recession while we are still stuck in it.
Fish is King in Kodiak, we are the 3rd lagest fishing port in the U.S, so our economy runs off harvesting and processing. Ex-vessel, what the fisherman is paid, cod prices last fall were $.65 a pound and in January they were $.33 a pound. Halibut is supposed to drop from around $4 a lb to $2.50 and salmon will probably drop but how far is yet to be seen. There are buyers for cod, but the European banking industry is worse off than we are. Luckily diesel went from $5 this summer to around $3 a gallon now. Also black cod (sablefish) and some of the other Japanese/asian market fish are holding fairly steady. Japan went through a banking recession in the 90s so they aren't being slammed as hard as Europe and North America. That isn't very reasuring though since 1/3 of our fish goes to domestic markets, 1/3 goes to Europe and 1/3 goes to asia, which Japan is the largest buyer. Tourism, our other main industry will more than likely take a hit. We are going to 24 cruise ships this year from 15 last year, but cruise ships don't really bring in much revenue. Expecially if the people on them are worried about spending too much money.
Only other "industry" here is the coast guard and those 1200 jobs are pretty much guaranteed.
I understand its just a business cycle and its needed and unavoidable. I also understand that Gov't needs to spend and reduce taxes during recessions, and tax and save during prosperity (something we seem to forget). It makes sense really, why should gov't be paying to build when everything is at a premium. Now is the time to make upgrades, when labor is cheap and the work is needed. My hope is that our leaders spend to create jobs and build our future (infrastructure) and not to line the pockets of their friends. I don't think it needs to be $800 billion, but gov't does everything big. If at least $400 billion of that goes to creating jobs, we'll be out of this mess by the end of summer.
Anyway, my life may get hectic, but I should have a job and my wife works at the college so she's safe. I also grew up in a farming community during the 70s and 80s so basically I grew up in a recession. I still remember neighbors losing family farms and all the auctions where they were basically giving away high end equipment. If it comes down to it I'll eat a lot of fish and grow veggies in the back yard.
P.S. If things get really bad our processors are always bringing in labor from asia and eastern europe to work. It's only $8 an hour but its 12 hour days 7 days a week, I won't feel too bad until I see Americans filling those jobs. Hell maybe I'll be working one soon enough.
Ummm I don't think Montana is in a recession either. Home appraisal values were up 50% on average around the state. Not a lot of new construction, but those guys were raping us with their pricing anyway. Gonna be nice to see prices for construction getting within realiaty.
Whiskers
New member
Yes, we do prop repair, check out our repair section at the store
http://store.thechum-bucket.com/mer...n=CTGY&Store_Code=087941&Category_Code=Repair
TBinKodiak
Member
Its fairly difficult for the NBER to even determin if the nation is in recession. It used to be 2 quarters of neg GDP, but now they take into account unemployment, housing, consumer confidence, etc. Its even more difficult for states to decide if they are in recession. At the end of the year Alaska, Montana and I think Wyoming stated they weren't in recession. Last week our state economist anounced we were the only state not in recession so I'm not sure if it was his call or if the other two announced it. Obviously a lot of it is estimates so maybe they just don't want to miss out on all that stimulus.
Moosie
Grand poopa
UP 50% ?? Can you show me those Stats somewhere ?
I tried to look for stats and found :
GFHunter
Member
Wolf4Skin,
Are you kidding me. The recession has hit Montana. It might seem suddle because the montana economey has never been great like other states. Realtors are going broke, construction companys are slower than ever. Newspapers are making big layoffs. You hear of other layoffs all the time. One of our tenents couldnt pay her rent because of her recent layoff.
Its bad here also. Trust me.|oo|oo|oo
Moosie
Grand poopa
I agree with GF.
Monatan's Economy was the last to start spurring so it's going to be hit the least hardest. You guys will outpreform most of the other states but will and are feeling the pain. Like I said in other posts, some people are in jobs that are steady and secure. Anyone in the Building industry has felt it or knows about it no matter what state you're in.
It's funny I keep thinking of that Email video on the mexican driving up to a buisness complex with a Bunch of men and women in suits and everyone get's quiet. He then says "I need a buisness major, I need a CEO, I need a ...etc." and 3-4 white uppity ups jump in the back of his truck for work. That video, has more then one reason to be funny, but being true is the biggest reason
Monatan's Economy was the last to start spurring so it's going to be hit the least hardest. You guys will outpreform most of the other states but will and are feeling the pain. Like I said in other posts, some people are in jobs that are steady and secure. Anyone in the Building industry has felt it or knows about it no matter what state you're in.
It's funny I keep thinking of that Email video on the mexican driving up to a buisness complex with a Bunch of men and women in suits and everyone get's quiet. He then says "I need a buisness major, I need a CEO, I need a ...etc." and 3-4 white uppity ups jump in the back of his truck for work. That video, has more then one reason to be funny, but being true is the biggest reason
I was laid off today.
Sorry to hear about that Nut. Bad deal. My BIL lives in Wadsworth, OH. Not sure how far that is from you, but he says it is really bad around there.
Hope something good comes your way. Sure it will.
smalls
Well-known member
I am worried to say the least. I am in sales and my primary customers are industrial (mines, timber mills, etc.) and heavy construction. Sales to individual customers are down...way down. We have several customers who've committed nothing for summer and fall as they are unsure how much longer they'll be operating. Luckily, I've been able to add some substantially large accounts and am essentially even to where I was last year at this time. I am salaried and I have generated enough margin to pay for myself for the year, but since I am one of the highest paid employees I still fear being let go as a "cost savings" measure (ROI be damned).
To say MT isn't in a recession is to have your head in your sand. Many of our top industries, especially those dependent on natural resources, are in the absolute dumper.
To say MT isn't in a recession is to have your head in your sand. Many of our top industries, especially those dependent on natural resources, are in the absolute dumper.
