FYInance

Archive for the ‘Economy’ Category

Rep. Ron Paul’s speech on C-Span (September 29, 2008)

Rep. Ron Paul has always expressed his opinions passionately about the state of the economy. In this video, he outlines what the US is doing wrong. He said  ~ We spent too much, we borrowed too much, we printed too much money, we over-regulated, etc.

We are apparently looking at the collapse of the market that is not sustainable. The Federal Reserve Systerm created too much credit. Long term this is a disaster. We pumped in too much money. It is going to destroy the dollar. Then you are going to destroy worldwide economy. We need oversight of a lot of things.

There are so many problems to solve!

Today we are going to share a story of a lady whom wrote in about her situation regarding the economy. We generally do not do this but this lady is very depressed and asked that we share her story. The story is below:

“For the first time in my life, I have been left totally alone.

My son grew up this year and spent his summer abroad, so the house consists of me and the old man.

The economy has affected us as he is a pipe fitter, and there is no work at all here at home. He’s working, 1200 miles away.

Our rent is paid in both places, but all the lonely is killing me, and depression has consumed my soul.”

The slow economy has undoubtedly affected retail sales. People have less disposable income so they are spending less and saving more money. With the drop in retail sales, stores cannot afford to hire many employees. Existing employees see their hours cut back or get laid off. Fear of job loss is common among retail sales associates.

We have asked a few people in retail sales of their experience during this economy. Read below what one of them say:

“My sister-in-law is in retail sales. She has seen her sales per hour on the floor drop dramatically. She has also had her hours cut back as her store has cut staffing due to lower levels of foot traffic. Her mass-market high-end women’s clothing boutique has also lost several employees due to attrition because they were not getting the hours they needed.”

If your products are not absolutely necessary, then you are more likely to see a drop in sales because people cannot afford expensive items nowadays and saving money is more important right now.

Do you have a story to share about retail sales and the economy?