Comments on: Economic slowdown anecdotes

By: Hugo Schwyzer

Hugo Schwyzer — Wed, 21 May 2008 20:04:45 +0000

I predict that when the price of oil declines, people will be back to their old ways and the current “green movement” will be yet again another distant memory.

One of the many reasons I’m excited to see $200 a barrel.

By: Karen

Karen — Wed, 21 May 2008 19:46:09 +0000

In my neck of the woods I’ve noticed all the charming, but older and smaller brick bungalows that have been scraped off to make room for giganticsm and McMansions are now sitting empty. Yet, scrape offs still continue, even of perfectly fine homes (which may need a little TLC). They are just too small for the bigger is better crowd. It appears that no one can afford the 1.2 million dollar price tag. I still see everyone driving SUV’s and gas hogs though and construction has slowed. I walk a lot and have always been more mindful of my purchases. This is partly due to values, lifestyle choice, and also necessity. I predict that when the price of oil declines, people will be back to their old ways and the current “green movement” will be yet again another distant memory.

By: Hugo Schwyzer

Hugo Schwyzer — Fri, 09 May 2008 14:25:24 +0000

That makes a lot more sense and sounds a lot more fun, Lester.

By: Lester Hunt

Lester Hunt — Fri, 09 May 2008 13:19:58 +0000

In Oregon, Wisconsin, we don’t have charity galas. We have bake sales.

By: Hugo Schwyzer

Hugo Schwyzer — Thu, 08 May 2008 18:40:39 +0000

“Spendyish”: good word!

Lester, charity galas and fundraisers tend to like black tie stuff, and if you want to save the world for little aminals, ya gotta don the penguin suit from time to time.

By: Sara

Sara — Thu, 08 May 2008 17:46:05 +0000

Speaking of people driving despite high gas prices, I was just noticing yesterday that I haven’t gotten it through my head that a trip to the more affordable grocery store across town must end up costing me just as much money as to the spendyish one a couple of blocks from where I live.

By: Lester Hunt

Lester Hunt — Thu, 08 May 2008 16:45:57 +0000

Hugo, You need a tux three or four times a year? Sheesh! You must have tonier friends than I do. I’ve never had one on in my life.

By: Hugo Schwyzer

Hugo Schwyzer — Thu, 08 May 2008 14:47:06 +0000

Also, Angiportus, I’m not an economist or a personal financial planner. (I wish my wife, who does business management, would guest-blog, but that is unlikely to happen).

Cousin Ted, well done on your presentation. I’m going to take a stab at answering the question in a post.

By: Hugo Schwyzer

Hugo Schwyzer — Thu, 08 May 2008 14:35:47 +0000

A vegan tuxedo would be entirely silk and wool free, DJW.

Fred, so far I see no impact on my students, most of whom were too poor to be caught up directly in the housing bubble — but I do hear regular complaints about gas prices.

And I shudder to think about the loan market.

By: Fred

Fred — Thu, 08 May 2008 13:16:43 +0000

Hugo,

What effect has the “economic slowdown” had on your college? I graduated in 1989 and was able to find a job before the recession started. Most of my friends that graduated in 1990 ended up going to graduate school because most companies were laying off workers instead of hiring them.

On a related note, have you noticed any reduction in loan money for students? Ref: The Next Market Bubble: Student Loans?