Anecdotal economic field reports (Now Stickied)

[uranian]

yeah my business is set up as a sole tradership, the least official way of doing this, so they are all personal cards. so it's mainly business that banks aren't lending to? i'm surprised they're lending at all tbh.

[dys]

yeah my business is set up as a sole tradership, the least official way of doing this, so they are all personal cards. so it's mainly business that banks aren't lending to? i'm surprised they're lending at all tbh.

Personal credit is way way down, to. Just not gone. I would guess credit limits are down between 50-80% from what they were 10 years ago.

dys

[chad]

i had a line of credit at the bank (never used it) that they closed last week for no reason. it wasn't huge either, 5k is all.

[undgrd]

They need reserves on hand for open lines of credit. If you're not using it, they can eliminate the need for additional reserves by closing it. Since it's technically their line of credit and you're just using it, they can close it out.

[lapis]

Speaking again about product shrink, food manufacturers are adding more and more water to chicken at the grocery store. I get a lot of Foster Farms and similar brands to feed my dog, and their chicken now contains 4% up from 3% last year. Some brands of organic contain 5%! That's some expensive water.

[lapis]

Gosh it's awfully quiet here. I feel a bit sheepish to keep complaining about things, but when you're a stay-at-home mother trying to buy food and a few extras with one income, you really notice how far a dollar stretches. I've been a SAHM for ten years now, and I know for sure products weren't as cheaply-made as they were even a decade ago.

So today's complaint is about car parts. I got an oil change last week, and the mechanic pointed out that my tires are bald. I have to admit I never really pay attention, because my dh usually takes care of things like that. But he's been working 12-hour shifts at odd times and is a bit out of commission to notice these things lately.

He had purposefully bought good tires and even got some kind of warranty for them. I thought he'd just recently bought them in the last two years, but it turns out they are a little over three years old.

So how long was the warranty good for? Just three years. It expired in December. I'll have to look at the mileage, but this is the car that I use mainly to run errands and take small trips. I am not driving all over creation in that car, and I'm really disappointed to have to replace them.

Coincidentally, the electronic system seemed to be acting up. Some dashboard lights flashed on after I went to the grocery store on Friday, and then after I turned it off for a few hours, the car wouldn't start back up again. I was sweating bullets wondering what the heck was the problem, but it turned out to be just the battery that dh bought about six months ago.

Thankfully he had also gotten a warranty, so they had to replace it.

So the moral of the story is: if the store offers a warranty on something, take it. You will probably have to use it. Everything is now made as if it's going to be sold at Harbor Freight, so budget accordingly.

[milehi]

Today on my way back from lunch to the office, I saw new construction in a tract that was unfinished and has laid dormant since 2008. I drove up in and counted 12 units being framed. 2000-3300 square feet for 200-400K, and stacked close enough to hear your neighbor fart.

[Sparky]

Yesterday at OfficeMax...

4 GB thumb drive memory stick: $5.33
Garage sale price stickers: $6.79/pack

The times they are a-changin'.

[MNeagle]

Here's a new one in this area: the gold buyers (who advertise on the radio) are offering a 30-day guarantee. They buy your gold, if the price goes up in 30 days, they'll cover the difference. Now at what % they're buying I have no clue. Anyone else hearing similiar promises?

[osoab]

Here's a new one in this area: the gold buyers (who advertise on the radio) are offering a 30-day guarantee. They buy your gold, if the price goes up in 30 days, they'll cover the difference. Now at what % they're buying I have no clue. Anyone else hearing similiar promises?

That's interesting MN. I wonder if the gold well is drying up.