What do you think of the economy 2016?

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frugalmom
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Joined: Fri Aug 28, 2015 10:52 pm

What do you think of the economy 2016?

Post by frugalmom » Thu Jan 21, 2016 7:48 pm

With the bloodletting in the stock market and volatility these past few weeks,what do you think of the 2016 economy and where it is headed? What is it like in your neck of the woods? What do you think about Walmart laying off and closing stores? What about China and oil prices hitting all time lows? What do you think about your personal economy? What would you do differently this year?

shopper113
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Joined: Sun Aug 30, 2015 8:03 am

Re: What do you think of the economy 2016?

Post by shopper113 » Thu Jan 21, 2016 11:09 pm

Stock market--unless I need to, I wouldn't sell while stocks are down. Oil is interesting, the Saudis are really hoping to starve some of the competition, it should allow some comparative lower *or slower increases) in prices in travel, plastics, anything that ships by truck

Locally, I don't know. We tried to go out to eat a couple of Fridays ago and one place had a 70 minute wait (we didn't wait).... so people are going out to eat. We are optimistic about work.
Still planning to build savings this year.
Wal-Mart Stores Inc. said Friday that it will close 269 of its 11,600 stores, including 154 in the U.S. — nine in California — as the company tries to find its footing in a difficult retail climate.
The retailer also said that in the next year it plans to open more than 140 new stores nationwide. Plans include opening or expanding nine stores in California.
http://www.latimes.com/business/la-fi-w ... story.html
Walmart is closing a lot of poorly producing somewhat experimental smaller grocery type stores that really never flew. They are building more super centers, etc.

colonialgirl
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Joined: Sat Aug 29, 2015 2:01 am
Location: Central Illinois

Re: What do you think of the economy 2016?

Post by colonialgirl » Fri Jan 22, 2016 12:34 am

I agree with Shopper. The closures at Walmart are more about productivity of the individual stores than an economic trend.

And the market - look at it this way. I remember when in the late 70s the Dow lost 500+ points in one day. 25% of it's total value. That was a huge concern, but the Dow was at 2000.

The other day it lost 500+ points but it is at over 15000. That is around 3% of it's total value - not quite the same thing. The market goes up and down and it has been on a long eight year upward climb out of the last recession. It is due for some downward movement. Not that anybody wants that - but the market cannot just go up indefinitely. And if you are appropriately diversified and have a investment mix that is appropriate for your age and financial position, and if you dollar cost average your investment contributions, then you should be ok to ride it out.

rinty
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Joined: Fri Aug 28, 2015 3:54 am

Re: What do you think of the economy 2016?

Post by rinty » Fri Jan 22, 2016 5:49 am

I think things are going down. Governments are admitting it. Here in England house prices have become unsustainable, there a bubble ready to burst right there.

Obviously with DH on a pension now ( his personal one and his state one) we are concerned over pension funds and the stock market.

I wouldn't say that because people are eating out its a good sign, I think people think very short term...........

IMO 2016 is our hunkering down year. We spent out on home renovations we feel right about, and yes, we are debt free but we want hard cash behind us in savings. None of this years goals are things we are Spending OUT and we won't use savings for anything.

Just listening to news from Davos Switzerland talking about the fact that the worlds economies are all carrying too much debt. All. What does that tell us ?

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Jackielou
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Re: What do you think of the economy 2016?

Post by Jackielou » Fri Jan 22, 2016 7:23 am

With the nose diving Canadian dollar, and oil prices that keep going down, we could and will be in a great deal of hurt (in fact the oil industry already feels the hurt here).

I think that this trip to Spain and Portugal might be the last big trip we take for awhile. The exchange rate on the dollar is outrageous and the whole thing may just end up costing us way more than we budgeted.

Grocery shopping up here is a game of watching prices go up and up. Fresh fruits and veggies are skyrocketing in price. Having lower fuel prices does not seem to be helping at all.

Frankly I am scared for our youngest. His job is tied to so many of our exports (oil, potash, farming) that his job is in an even more precarious position. There are not many jobs available any longer either due to downsizing or other company layoffs.
Things are not at all nice right now.

Shelsmiles
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Joined: Mon Aug 31, 2015 9:19 am

Re: What do you think of the economy 2016?

Post by Shelsmiles » Tue Jan 26, 2016 9:45 am

I think that it's going to get worse before it gets better, at least for us. I know a lot of people see the decline of energy as a great thing but it's really not. Gas prices may be low at the pump but the moratorium On coal leases and the the total bankruptcy of American oil is going to end up leaving the US in a total
Mess

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