Comments on: What a Recession Feels Like http://thefinancebuff.com/what-recession-feels-like.html like a friend telling you about money ... Tue, 22 May 2012 00:03:35 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Art Stone http://thefinancebuff.com/what-recession-feels-like.html#comment-2090 Art Stone Fri, 22 May 2009 13:48:04 +0000 http://blog.thefinancebuff.com/?p=226#comment-2090 Having lived in Flint Township at the time (doing computer work for GM/EDS - trying to keep Buick City alive), the film very much distorts reality. A block outside of the city limits, the Flint area was doing quite well with successful shopping areas on all sides and a sound economy. What killed the City of Flint was a city income tax and property tax disputes with GM - and an incompetent city government - like a police chief who routinely said things on TV like controlling crime was beyond his ability to control because of all of the people using illegal drugs. Prostitution was occuring right out in plain sight on Martin Luther King drive on the North Side of the city in the middle of the day. That doesn't happen unless the police are allowing it to happen. Also, regarding the shooting of the mentally ill man - he was holding a loaded shotgun standing in the middle of Dort Highway. When rabbits start pointing loaded firearms at other humans, that might become an apt comparison. Having lived in Flint Township at the time (doing computer work for GM/EDS – trying to keep Buick City alive), the film very much distorts reality. A block outside of the city limits, the Flint area was doing quite well with successful shopping areas on all sides and a sound economy.

What killed the City of Flint was a city income tax and property tax disputes with GM – and an incompetent city government – like a police chief who routinely said things on TV like controlling crime was beyond his ability to control because of all of the people using illegal drugs. Prostitution was occuring right out in plain sight on Martin Luther King drive on the North Side of the city in the middle of the day. That doesn’t happen unless the police are allowing it to happen.

Also, regarding the shooting of the mentally ill man – he was holding a loaded shotgun standing in the middle of Dort Highway. When rabbits start pointing loaded firearms at other humans, that might become an apt comparison.

]]> By: Strategic Investor http://thefinancebuff.com/what-recession-feels-like.html#comment-484 Strategic Investor Mon, 03 Mar 2008 16:38:00 +0000 http://blog.thefinancebuff.com/?p=226#comment-484 What happened to Flint was a depression, not a recession. It was a classic Michigan company town and when that company moved the plant, the primary source of income into the town was gone.<br/><br/>Almost as pathetic as these scenes were the lame-brained ideas cooked up by the town for business development. Flint, Michigan - convention/tourist mecca. Right.<br/><br/>Should have moved aggressively to seek additional investment.<br/><br/>Instead, everything was blamed on GM who somehow "owed" these folks these jobs. Maybe GM should have spent more time building attractive cars and trucks instead of fiddling with "brand management" (remember the Cadillac Cimmaron?). Many other Flints might have been avoided had GM and the UAW been more aggressive in overhauling the company in this period.<br/><br/>Having also worked in the industry, I suspect that Ford and then Chrysler and then GM will have to file for bankruptcy reorganization before they can turn things around. Especially since durable goods orders are dropping like rocks as people fight to pay their mortgage. What happened to Flint was a depression, not a recession. It was a classic Michigan company town and when that company moved the plant, the primary source of income into the town was gone.

Almost as pathetic as these scenes were the lame-brained ideas cooked up by the town for business development. Flint, Michigan – convention/tourist mecca. Right.

Should have moved aggressively to seek additional investment.

Instead, everything was blamed on GM who somehow “owed” these folks these jobs. Maybe GM should have spent more time building attractive cars and trucks instead of fiddling with “brand management” (remember the Cadillac Cimmaron?). Many other Flints might have been avoided had GM and the UAW been more aggressive in overhauling the company in this period.

Having also worked in the industry, I suspect that Ford and then Chrysler and then GM will have to file for bankruptcy reorganization before they can turn things around. Especially since durable goods orders are dropping like rocks as people fight to pay their mortgage.

]]> By: Kristin http://thefinancebuff.com/what-recession-feels-like.html#comment-482 Kristin Sun, 02 Mar 2008 20:08:00 +0000 http://blog.thefinancebuff.com/?p=226#comment-482 I recently rented this movie, as well. I remember when this was actually happening when I was in high school. Back then I wondered why all those people were so angry with GM? Why do they think GM owes them a living? Why don’t they just get another job? That’s a typical response from someone who still has their job and are not affected by a localized recession. <br/>Lesson learned: These folks were too dependent on GM, they had no emergency funds and limited job skills. Even with all of that, they would have taken huge losses on their homes, but at least they would have been able to move on. I recently rented this movie, as well. I remember when this was actually happening when I was in high school. Back then I wondered why all those people were so angry with GM? Why do they think GM owes them a living? Why don’t they just get another job? That’s a typical response from someone who still has their job and are not affected by a localized recession.
Lesson learned: These folks were too dependent on GM, they had no emergency funds and limited job skills. Even with all of that, they would have taken huge losses on their homes, but at least they would have been able to move on.

]]> By: Anonymous http://thefinancebuff.com/what-recession-feels-like.html#comment-481 Anonymous Sun, 02 Mar 2008 17:56:00 +0000 http://blog.thefinancebuff.com/?p=226#comment-481 Something interesting that I've heard brought up in the past: you, and most people who watch this film, indicate that the rabbit-killing scene is very hard to watch. However, it is rarely mentioned that the film also includes archival news footage of a man, mentally ill, being shot in the street by police. An odd juxtaposition of selective squeamishness? I just write this because I find it interesting, especially since my parents raised rabbits for meat and fur when I was a child (before my memories begin). They were quite poor and needed the cheap, quick source of protein as well as the little bit of extra income the fur would provide. However, I strongly doubt that even a small fraction of one percent of the American people would advocate shooting mentally ill people in the street as a source of food and to sell their skin for some extra income. Something interesting that I’ve heard brought up in the past: you, and most people who watch this film, indicate that the rabbit-killing scene is very hard to watch. However, it is rarely mentioned that the film also includes archival news footage of a man, mentally ill, being shot in the street by police. An odd juxtaposition of selective squeamishness? I just write this because I find it interesting, especially since my parents raised rabbits for meat and fur when I was a child (before my memories begin). They were quite poor and needed the cheap, quick source of protein as well as the little bit of extra income the fur would provide. However, I strongly doubt that even a small fraction of one percent of the American people would advocate shooting mentally ill people in the street as a source of food and to sell their skin for some extra income.

]]> By: Bradipo http://thefinancebuff.com/what-recession-feels-like.html#comment-480 Bradipo Sat, 01 Mar 2008 22:41:00 +0000 http://blog.thefinancebuff.com/?p=226#comment-480 It makes a big difference whether you lose your own job, or not.<br/><br/>If you lose your job, it feels just like it looked in the movie. If you don't, but friends or family members do--or if you're constantly worried that you will--then it's not as bad, but bad enough.<br/><br/>On the other hand, if you're in a secure job in a growing business (and lots of people are, even in a bad recession), then a recession doesn't necessarily feel so bad at all. You get better service when you go to buy stuff (because you're the only customer), prices are negotiable, if you're a manager it's suddenly easier to hire top people, etc.<br/><br/>-- <br/><a HREF="http://www.wisebread.com/philip-brewer" REL="nofollow">Philip Brewer</a> It makes a big difference whether you lose your own job, or not.

If you lose your job, it feels just like it looked in the movie. If you don’t, but friends or family members do–or if you’re constantly worried that you will–then it’s not as bad, but bad enough.

On the other hand, if you’re in a secure job in a growing business (and lots of people are, even in a bad recession), then a recession doesn’t necessarily feel so bad at all. You get better service when you go to buy stuff (because you’re the only customer), prices are negotiable, if you’re a manager it’s suddenly easier to hire top people, etc.

–
Philip Brewer

]]> By: Anonymous http://thefinancebuff.com/what-recession-feels-like.html#comment-470 Anonymous Wed, 27 Feb 2008 18:30:00 +0000 http://blog.thefinancebuff.com/?p=226#comment-470 Roger and Me is the one movie Michael Moore made that has any credibility.<br/><br/>Fahrenheit 9/11 is total propaganda. In the process of shooting it, Michael Moore became the Democrats Election 2004 fan-boy, though the film didn't stem the tide.<br/><br/>I'd only suggest watching this film if you borrow it from the library - don't give this propagandist any additional funding!!! Roger and Me is the one movie Michael Moore made that has any credibility.

Fahrenheit 9/11 is total propaganda. In the process of shooting it, Michael Moore became the Democrats Election 2004 fan-boy, though the film didn’t stem the tide.

I’d only suggest watching this film if you borrow it from the library – don’t give this propagandist any additional funding!!!

]]>