The crashing of the US.......most interesting

[jediron1]

Lets all just calm down. It seems like the situation wouldn't be half as bad as it were if everyone wasn't running around saying the sky was falling. Obviously there are issues. I live across the river from Detroit, so I know there's definatly a problem... but I think a large part of the issue stems from people saying it's worse than it is. "The world is doomed!" "Oh god, did you hear the world is doomed? I better stop spending money!" "Hey, frank's not spending money! WE SHOULD STOP TOO!"

Well I did find chicken little his sky was falling he was being chased by a fox for dinner. Now I never meant to imply that was the only reason LUX rid themselves of those extremities only that it seemed to come at a convenient time for them. An for you saying:"but I think a large part of the issue stems from people saying it's worse than it is".

Well I just paid 3.25 per gal. for gas where just a year and half I was paying .99 per gal. I was also paying 175.00 per month for gas and electric, last Jan. 07 it jumped to 318.00 per month. So all I m saying is for me it's gotten a lot worse. One last one, we used to spend 125.00 to 150.00 per week on groceries now for the same items we are now spending 225.00 to 250.00 for the same groceries. So I m not saying the world is doomed just a little worried that it's getting harder for the average joe just to make ends meet.

just my 2 cents

[Chris Ryser]

Dollar's rally on Fed measures proves short-lived

Wed Mar 12, 2008 5:01am EDT

By Toni Vorobyova

LONDON (Reuters) - The dollar eased back towards record lows versus the euro on Wednesday as a pick-up in risk appetite prompted by central bank measures to boost liquidity petered out.

On Tuesday the Federal Reserve lifted short-term funding to primary dealers to $200 billion and allowed them to use a wider array of mortgage debt as collateral. Central banks in the euro zone, Britain, Canada and Switzerland also took action.

This sparked a rally in equity markets and set the dollar up for its biggest one-day percentage rise versus the yen in nearly seven months.
But on Wednesday investors were more skeptical, doubting whether the central bank measures could solve problems in the economy or the credit market, so they took profits on the dollar's gains.

"It's a bit of a reality check. The Fed's action obviously is welcome but it doesn't really fix the economy," said Martin McMahon,....................

See whole article http://www.reuters.com/article/hotSt...24480320080312

[jediron1]

Dollar's rally on Fed measures proves short-lived

Wed Mar 12, 2008 5:01am EDT

By Toni Vorobyova

LONDON (Reuters) - The dollar eased back towards record lows versus the euro on Wednesday as a pick-up in risk appetite prompted by central bank measures to boost liquidity petered out.

On Tuesday the Federal Reserve lifted short-term funding to primary dealers to $200 billion and allowed them to use a wider array of mortgage debt as collateral. Central banks in the euro zone, Britain, Canada and Switzerland also took action.

This sparked a rally in equity markets and set the dollar up for its biggest one-day percentage rise versus the yen in nearly seven months.
But on Wednesday investors were more skeptical, doubting whether the central bank measures could solve problems in the economy or the credit market, so they took profits on the dollar's gains.

"It's a bit of a reality check. The Fed's action obviously is welcome but it doesn't really fix the economy," said Martin McMahon,....................

See whole article http://www.reuters.com/article/hotSt...24480320080312

The more dollars that keep flooding the market the less buying power they will have. So instead of paying 3.34 per gal. for gas it probable will climb
to 3.55 or 3.60 or it may hit 4.00 on the east coast. The left coast in places are already paying 4.25 and I just saw one that said 4.45 per gal.
Unbelievable! I still recall in 1971 going to college and putting $.75 in my Corvair, that was 3 gallons of gas and I could go almost all week on that.
Boy have we come a long way and I m not sure it's for the better!
just my rant

[Chris Ryser]

........................... that was 3 gallons of gas and I could go almost all week on that.
Boy have we come a long way and I m not sure it's for the better!
just my rant

you just made a good comment. But figure that transport cost will skyrocket and the increase has to be added to the cost of goods. Electricity will go up, so will heating and cooling cost.
Thousands of products are derived from oil based materials.

We just sent a small shipment to Brazil, the air freight was $ 150.00 and the fuel surcharge and other extras were $ 160.00 and the parcel went from Montreal to Zürich and then To Rio, but it was cheaper than sending direct.

So will face an increase in just about everything very soon. How will this affect the optical in the way of pricing and the consumer in the way of spending.?

[jediron1]

you just made a good comment. But figure that transport cost will skyrocket and the increase has to be added to the cost of goods. Electricity will go up, so will heating and cooling cost.
Thousands of products are derived from oil based materials.

We just sent a small shipment to Brazil, the air freight was $ 150.00 and the fuel surcharge and other extras were $ 160.00 and the parcel went from Montreal to Zürich and then To Rio, but it was cheaper than sending direct.

So will face an increase in just about everything very soon. How will this affect the optical in the way of pricing and the consumer in the way of spending.?

Well as we all know petrol is a component in frame production so with that said we will probable see frame prices increase and more than likely lenses will follow right after. Same old scenario that played out in the 70's.

[Chris Ryser]

Economy faces recession, probably in Q1
Wed Mar 12, 2008 9:08am EDT

By Burton Frierson
NEW YORK (Reuters) - The U.S. economy has ground to a halt and probably already is in recession but faces higher inflation this year than thought just a month ago, a Reuters poll showed on Wednesday.

A dismal run of economic data including two months of job market contraction, a declining factory sector and shrinkage in the dominant service sector, has led analysts to downgrade the already grim economic assessment they gave a month ago........................
Economists made their forecasts before the Federal Reserve and.............

whole article
http://www.reuters.com/article/topNe...45317920080312

[jediron1]

Economy faces recession, probably in Q1
Wed Mar 12, 2008 9:08am EDT

By Burton Frierson
NEW YORK (Reuters) - The U.S. economy has ground to a halt and probably already is in recession but faces higher inflation this year than thought just a month ago, a Reuters poll showed on Wednesday.

A dismal run of economic data including two months of job market contraction, a declining factory sector and shrinkage in the dominant service sector, has led analysts to downgrade the already grim economic assessment they gave a month ago........................
Economists made their forecasts before the Federal Reserve and.............

whole article
http://www.reuters.com/article/topNe...45317920080312

You did not have too prove it to me because as I've said before and on other threads I have already felt the pinch between buying gas,groceries
and gas & electric, my bills have doubled. I just got a note in the mail saying my property taxes are going up. I will tell you my pay has not kept up. In fact my buying power has actually been eroded these last 18 months. But what do you do but set the alarm clock and go in for another day. Maybe chicken little was right "the sky might be falling " just my take

[Chris Ryser]

Dollar falls below 100 yen, hits record low vs euro

Thu Mar 13, 2008 12:27pm EDT

By Steven C. Johnson
NEW YORK (Reuters) - The dollar plunged below 100 yen on Thursday for the first time in more than a decade and hit a record low against the euro as worries deepened on Wall Street that the United States had entered a recession.

The dollar approached parity with the Swiss franc for the first time ever, gold hit an all-time high and data showing a surprise drop in U.S. retail sales heightened concern that American consumers were cutting back on spending.

"We are seeing tremendous pressure on the dollar, and if you look at the reasons why the dollar is so unpopular, it's very difficult to see any of those factors changing in the next few months," said Mike Moran, currency strategist at Standard Chartered in New York.
The dollar fell to 99.77 yen, its lowest level since 1995 before easing to 100.80 yen late in the morning in New York, 0.75 percent weaker on the day.

So far this year, the dollar has lost nearly 10 percent against the Japanese currency, and the dip below 100 has stirred fear that Japan could intervene to cap yen gains that threaten to cut into corporate profits.

whole article http://www.reuters.com/article/hotSt...24480320080313

[jediron1]

Dollar falls below 100 yen, hits record low vs euro

Thu Mar 13, 2008 12:27pm EDT

So far this year, the dollar has lost nearly 10 percent against the Japanese currency, and the dip below 100 has stirred fear that Japan could intervene to cap yen gains that threaten to cut into corporate profits.

whole article http://www.reuters.com/article/hotSt...24480320080313

My point exactly! I only wish it was 10% because my bills have doubled and my pay has not even come close to keeping up.

[Paul E. Carbonate]

Good God, Chris has an apprentice! A Jedi apprentice at that. Your name should be "Padawan," young Jedi.
Our same-month sales still up over last year, my bonus still bigger. And I noticed Transitions just invested in their biggest marketing campaign yet...I guess they failed to consult the master and apprentice when it comes to the crashing of the U.S.
We're in a mild recession. Grow a pair.

[AdmiralKnight]

Well I just paid 3.25 per gal. for gas where just a year and half I was paying .99 per gal

Woah, really? I wish our gas was that cheap :( That works out to be about $0.85/L if I did my math right. Gas was $1.09/L Today, which works out to be what... $4.20/gal? Bleh. It's always amazed me as to why Gas is cheaper in the states than it is in Canada... considering the states gets more crude from Canada than any other country. :(

[Chris Ryser]

Good God, Chris has an apprentice! A Jedi apprentice at that. Your name should be "Padawan," young Jedi.
Our same-month sales still up over last year, my bonus still bigger. And I noticed Transitions just invested in their biggest marketing campaign yet...I guess they failed to consult the master and apprentice when it comes to the crashing of the U.S.
We're in a mild recession. Grow a pair.

Polycarbonate, .........Dont worry about Transitions, they belong into the big corporation structure.

Worry about yourself, the day your bonus starts to shrink you will know that you did not see or believe the signal of a coming storm and prepare the business for it. Then you might collect the pink slip and join the other side of the worforce.

[jediron1]

Good God, Chris has an apprentice! A Jedi apprentice at that. Your name should be "Padawan," young Jedi.
Our same-month sales still up over last year, my bonus still bigger. And I noticed Transitions just invested in their biggest marketing campaign yet...I guess they failed to consult the master and apprentice when it comes to the crashing of the U.S.
We're in a mild recession. Grow a pair.

Thank You I take that as a complement! I think very highly of the posts Chris makes and also Darryl J. Meister

[Johns]

.

Worry about yourself...
Worry...
Worry..
Worry..
Worry..
Worry..
Worry..
Worry...
Worry..
Worry..
Worry...
Worry...
Worry...
Worry...
Worry...
Worry...
Worry...
Worry...
Worry...

:hammer:
Sure! Why not!

[jediron1]

Good God, Chris has an apprentice! A Jedi apprentice at that. Your name should be "Padawan," young Jedi.
Our same-month sales still up over last year, my bonus still bigger. And I noticed Transitions just invested in their biggest marketing campaign yet...I guess they failed to consult the master and apprentice when it comes to the crashing of the U.S.
We're in a mild recession. Grow a pair.

WOW "Grow a pair" I got chatised for a similar comment! Wait a few months and then tell us where your sales are. Now where's my VIAGRA!

[GOS_Queen]

http://biz.yahoo.com/rb/080314/usa_economy_feldstein.html?.v=1

Reuters
U.S. faces severe recession: NBER's Feldstein
Friday March 14, 10:55 am ETBy Ros Krasny
BOCA RATON, Florida (Reuters) - The United States is in a recession that could be "substantially more severe" than recent ones, National Bureau of Economic Research President Martin Feldstein said on Friday.
"The situation is very bad, the situation is getting worse, and the risks are that it could get very bad," Feldstein said in a speech at the Futures Industry Association meeting in Boca Raton, Florida.
"There's no doubt that this year and next year are going to be very difficult years."
NBER is a private sector group that is considered the arbiter of U.S. business cycles. Feldstein is also a Harvard economics professor and former economic advisor to President Ronald Reagan.
Answering questions from the audience, Feldstein said the downturn could be the worst in the United States since World War Two.
Feldstein said the federal funds rate, the Federal Reserve's benchmark lending rate, is headed down to 2 percent from the current 3 percent.
He added that lower rates from the Fed would not have the same impact in the current downturn, in terms of reviving economic activity.
"There isn't much traction in monetary policy these days, I'm afraid, because of a lack of liquidity in the credit markets," he said.
The Federal Open Market Committee meets on Tuesday to consider its next step on interest rates. Financial markets currently look for a rate cut of 75 basis points, to 2.25 percent, with a moderate chance rates will be slashed 100 basis points.
The Fed's huge new credit facility, announced on Tuesday, "can help in a rather small way ... but the underlying risks will remain with the institutions that borrow from the Fed, and this does nothing to change their capital," Feldstein noted.
Feldstein said the combination of monetary and fiscal stimulus and the falling dollar "will help to dampen the magnitude of the downturn but won't be enough to sustain an expansion."
"The housing situation is getting worse by the day," he noted, as more and more houses drop below 100 percent loan-to-value ratios, encouraging homeowners to walk away from their properties.
More broadly, in global credit markets, "there is a lack of confidence leading to a lack of liquidity ... without credit creation, we can't have economic growth," Feldstein said.
Feldstein noted "powerful forces (that) will continue to drive inflation higher." And while inflation expectations are still relatively well contained, "you wonder how long that's going to last," he said.

[optical24/7]

Keep in mind folks, when you get your government checks this May or so, you will not help the US by buying foreign goods like gas, your helping the Saudi's...Walmart stuff, you're helping China. We need to buy good 'ol American products, like whiskey, domestic beer and prostitutes, just like the good (former) governor of N.Y. !

:D:D


:cheers::cheers:

[jediron1]

Keep in mind folks, when you get your government checks this May or so, you will not help the US by buying foreign goods like gas, your helping the Saudi's...Walmart stuff, you're helping China. We need to buy good 'ol American products, like whiskey, domestic beer and prostitutes, just like the good (former) governor of N.Y. !

:D:D


:cheers::cheers:

Now I don't know anything about Gov. checks since I work 5 and sometimes
6 days a week but ya the Governor got caught and for over 80k WOW! :hammer:

[chip anderson]

Isn't avertising low and "selling up" what they call "bait and switch?"

Of course in "optical" this wouldn't be concidered unethical (ethical: an ancient term we used to have in our language to indicate at least a minimal degree of integrity, which seems to be another ancient term).

Chip

[jediron1]

[quote=GOS_Queen;233517]http://biz.yahoo.com/rb/080314/usa_economy_feldstein.html?.v


One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -Plato


The only problem with using a quote by Plato on being "governed by your inferiors" is: that Plato was a rich aristocrat and having the lower class rule over you was unthinkable.
just my 2 cents

[GOS_Queen]

[quote=jediron1;233530]

http://biz.yahoo.com/rb/080314/usa_economy_feldstein.html?.v


One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -Plato


The only problem with using a quote by Plato on being "governed by your inferiors" is: that Plato was a rich aristocrat and having the lower class rule over you was unthinkable.
just my 2 cents

I like my quote - thanks for info

[jediron1]

[quote=GOS_Queen;233593]

I like my quote - thanks for info

No problem! Just pointing out that he was a rich aristocrat. ;)

[Chris Ryser]

[quote=jediron1;233530]

One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.
-Plato

Actual happening................in one I know of, and probably lots more, of the largest condominium association with hundreds of capable educated owners the only ones that want to be on the board of directors are retired non business, or blue collar people that have no idea of running a corporation with a budget of over 6 Million per year. What a screw up.

Even the restaurant serves meals on which they lose $ 3.00

[Chris Ryser]

World Bank sees U.S. recession risk
Sun Mar 16, 2008 9:58am EDT

By William Schomberg

BRUSSELS (Reuters) - The United States may well be heading into a recession and Europe faces further financial market turmoil too but developing countries are showing little signs of being hurt, World Bank President Robert Zoellick said.

"I am not an economic forecaster. People are debating: Is it going to be a slowdown or recession?," Zoellick told Reuters.

"Regardless of that debate, you are facing a serious economic slowdown from what you had before, and there may very well be a recession," he said, referring to the U.S. economy.

Further fallout is likely from the squeeze in credit markets that forced U.S. investment bank Bear Stearns to seek emergency financing last week, Zoellick said in an interview during the Brussels Forum conference on transatlantic relations


Whole articel: http://www.reuters.com/article/ousiv...49761220080316

[jediron1]

Isn't avertising low and "selling up" what they call "bait and switch?"

Of course in "optical" this wouldn't be concidered unethical (ethical: an ancient term we used to have in our language to indicate at least a minimal degree of integrity, which seems to be another ancient term).

Chip

Actually at the large retail places "selling up" is two or more pairs whether they need them or not.

I once asked on this board if some one came in and asked for 29 pairs of readers would you sell them or ask the patient why they needed so many pairs. Most people on this board said give me the credit card who cares why or why not she or he needs them. That was a true story of a person at a large chain who sold some one 29 pairs. Now what if that patient had a mental health problem and could not reason out the situation ,almost every one on this board still said " give me the damn credit card who cares whats brothering him or her". Is that ethical or not?