Will the U.S. Deficit effect you and your SL?

[Jacki Silverfall]

I was just realizing how it might effect me and the way I live in SL. Although SL is free, I have a lot invested in it.

Will the deficit effect you? Will you have to downsize? close shop? Sell your Ameretto horses? How will this effect LL now that Mesh is out? Will we be able to afford it? Have you even thought about how it might change your SL or your RL?

Lets discuss?

I will most likely not be spending the money inworld as I have been. And I will probably be calling the Cartel Hangout home again. :(

In a nutshell; I'm giving the money I spend here so my Mother on SSI won't starve.

 

[amarock Amat]

well, if it does sink....am glad i havent cashed out my lindens out, if the dollar sinks...means you might be able to buy more Lindens for  more/less their current value.

[Mayalily]

This is extremely admirable Jacki.  Your Mom does come first, and you could get a SL job.

I need a SL job too.  I've got two offers finally and hopefully will get a SL job soon.

Yes, the economy is horrible, but we all still try to have fun as best as possible.  I still don't see SL as free exactly because I feel like a free-loader if I don't pay the entertainment.  So even if I only have a widow's mite to give; it goes to the entertainer's first; my avi comes last but I don't need to look all hawt and stunning all the time because I have a rl bf; so sometimes I don't change my clothes for a week, but usually about every three days.  I'm not on the hunt for a guy unless he owns diamond mines in real life perhaps? 

I don't know anything about this mesh thing actually, but is it going to be more expensive?  Is that what you mean?

As far as the deficit, it's pretty bad, and I heard Greece wants to default on their debts today.  Greece wants out of the Euro and so do many other countries, so it's not just the U.S.; it's a global slowdown and recession, plus machines and automation replacing rl jobs. 

If mesh means I'd need a new computer, than I'd be out of SL, because a new computer is not first and foremost in our budget; not in this economy, no, we spend cautiously. 

The stock market is only going up for one reason, because there is no where to save in the U.S.  Two years bonds yielding something like 0.45%; cd interest rates horrible. 

It's very difficult for the disabled and elderly also with all this automated crap.  My Mom is having a hard time just getting ahold of anyone at her bank to even talk to.  I told her to switch banks.  Some people are legally blind or blind or deaf, and they need help, as do other disabled people. 

[Peggy Paperdoll]

So you're rooting for a deeper economic downturn?  $L is not tied to the US dollar.  LL makes it quite clear that $L has no monetary value.  When you cash out your lindens you will get only what people wanting to buy those lindens will pay.   If the economy sinks far enough they won't buy those lindens for whatever price.........you'll get less, not more in return for you lindens.

 

But hang on to them..........so far LL hasn't shown any signs of closure.  They did some down sizing last year and, for that effort, they seem to gaining income.  That's a good sign...........LL is one of few who seem to be doing pretty good inspite of the world economy.  I say world because it's not just the US economy. 

[Mayalily]

No, that's not going to happen, Amarock.  It's already clearly been spoken that the U.S. Federal reserve will be increasing interest rates on or around Christmas time of this year, so the dollar will start to strengthen, not weaken.  However, Peggy already explained about lindens.  I'm just explaining to you about the U.S. Dollar.  It is pretty much written in stone that the U.S. Dollar will start to strengthen in or around Christmas time 2011 as that will be the beginning of interest rate hikes. 

It's pretty clear the Dollar has bottomed already, and it won't be going down any further. 

ETA:  It's pretty much written in stone that Christmas time will be the lastest when rate hikes begin; however, there is nothing written in stone that interest rate hikes could start to happen sooner. 

[Pussycat Catnap]

Rough estimate is that if the debt cieling doesn't get raised, 500,000 jobs will go out the window overnight, and it will spiral from there.

That will likely impact -most- of us and our use of SL.

 

[Jacki Silverfall]

I am not rooting for anything. The L dollars I have I will spend in SL. I just simply won't be able to add to those or pay my tier.

There for downsizing. Luckily I am a premium member for another year and have my 512sqm! Like starting over. :smileyhappy:

[Jacki Silverfall]

I totally agree!

Being government worker feels like the future I counted on is now gone. Or could be.....

[Mayalily]

I think the debt ceiling will be raised.  I don't see any other choice? 

[Peggy Paperdoll]

I was responding amarock Amat.  Not you.

[Jacki Silverfall]

NM

[Peggy Paperdoll]

The debt ceiling will be raised.........it's what comes with it that is being argued.  Limits on further spending being the bone of contention.

[Anaiya Arnold]

I think we will have a re-run of last century's Great Depression and all the human misery and suffering that came along with it.

[Jacki Silverfall]

Yes, but how will it effect you and your SL? That is the question.:smileyhappy:

[Peggy Paperdoll]

It will effect me just about how it's been effecting me since our President was sworn into office.........I've worked just about the same as I've sat at home.  I know it's my field of chosen work, but still every other recession was fought and overcome with much different methods.  We (I'm one) are stuck with some grand experiment.........it's failing miserably.  Raise the debt ceiling with some very strong conditions.  You can't borrow your way out of debt..........not even borrowing from yourself.  It's never worked in the past and what makes anyone think it will work now?  Well, I guess if you are stupid you might think that........or have a different form of government in mind could be the answer too.

 

Enough of my Tea Party views.  :matte-motes-big-grin:

[Pussycat Catnap]

Two unfunded wars, bankers taking the money and running, consolidation of media empires, and massive cuts to taxes among the elites don't have anything to do with why you've been sitting at home eh?

 

[Peggy Paperdoll]

780 billion dollar bail out for the very ones who made the unsecured loans (that is what caused the crisis.......not the wars).  And just today we find out we lost over a billion of that money due to the buy out of Chrysler bu Fiat............amateur hour anyone?  :matte-motes-big-grin:

 

At what point do you stop pointing back at history and start taking responsibility?  It's been 2 1/2 years...........and it's worse today by about 10 times.  I suppose that's because of all this smart economic stimulus stuff..........and why my employer has just about half his employees sitting at home at one time or another(at least he's making us all take turns).  There's a proven record of doing the opposite of what our friend in the White House is doing.  A proven record..........not some "lets try this because it seems to be the best for the little guys".  The "little guys" profit when the "big guys" profit.  Of course if your intent to to buy some votes it might make some sense.............but I think he's out numbered this time.  :matte-motes-big-grin:

[Treyu]

^This.

Explain to me why (if you or anyone else believes it was all Bush's fault) Obama has not only failed severely to make the deficit better... but plummeted us instead, doing the same damage in less than half the time. Think about that for a second. Think about it and tell me what people would claim had the roles been reversed. 

Now, don't get me wrong, Bush was no angel. He was as much a politician and string-monkey as the rest of them (in my opinion) but come on... Obama is no bloody saint and he's not looking out for any of us any more than the next 'right wing crazy' is. The fact that people are still saying it was all his fault or because of the war is as much a knee-jerk reaction as to claim 'oil' on all the world's problems. No, I'm sure the war didn't help, but how many years has Obama been in term now? Where are all his promises? Why is debt spiraling out of control now worse than it ever has been?

And don't even preach to me about his involvement with the repeal of 'DA;DT'. That should have never been there in the first place and I am SEVERELY disapointed with his lack of involvement with LGBT and so much more.  

So maybe instead of looking back over 2 1/2 years, we should start paying attention to what the government is STILL spending money on. Look at the fraud they're still doing (ACORN anyone? Or did that get swept under the rug nicely, too?)

Even with all covered-up scandals aside, looking through some of the public records is completely insane! (Can someone explain to me why the fed. gov't is spending billions on peanut research??)

I'm not a member of any party at all, but I'll go with the things that make the most sense and what is good for the country and its people overall. And this --->  "The "little guys" profit when the "big guys" profit." Is correct. This pitting of one against the other is the very spirit of hostility that keeps us from meshing at all. One side will always blame the other.

What we really need is more regulation so that all people cannot cheat the system financially- both big (mega corporations) and little (welfare). There need to be more regulations to assure people are being paid fairly and that people aren't being given handouts when they're perfectly capable but LAZY. Gosh, I smell new job oportunities and profit! Now tell me how some scrawny college kid can come up with that and the men running our country with Harvard degrees can't??

 

And as for me, I'm sure it will affect me in some unforeseen way. I won't spend as much on SL, yada yada. I make or mod most of my own stuff anyhow.

[Peggy Paperdoll]

You're preaching ot chore.   :matte-motes-big-grin:

[Dresden Ceriano]

There is no way that drastically cutting spending will be good for the economy, we need more money pumped into the system and not by cutting taxes on the rich. The rich are not going to put that money to work to strengthen the economy, if they were inclined to, they would have already. Trickle down economics just doesn't work, if it did we wouldn't be where we are now.

The problem with the stimulus is that it didn't go far enough, you have to spend money to make money. The deficit can wait until our economy recovers, how is laying off thousands upon thousands of government workers going to help that recovery? It's not.

If we pump some money into the economy and, at the same time, work on our nation's failing infrastructure, the economy would get better; unemployment would go down so there would be more people working, therefore we'd be taking in more revenue. Then we can think about cutting spending and be able to start taking care of the deficit. Now is not the time.

Things are not worse now then they were at the end of the last president's term in office, it's just frustrating because the recovery is slow and what the republicans are trying to do would put it in reverse. This economic crisis lays squarely at the conservatives feet and yet they think they know exactly what needs to be done now. Ridiculous. If insanity truly means doing the same thing over and over again and expecting different results, then they are truly insane.

...Dres

[Peggy Paperdoll]

Oh!!!  So what I need to do to dig myself out of debt is to up my credit limit so I can purchase that new green car I've had my eye on.  Oh, and I should also go ahead and purchase the mountain cabin I've dreamed of for years.  Maybe I should finally take that 2 week South Pacific cruise. 

 

Okay.............got it.  I'm all good.  Everything is fine and I don't need to worry about how to pay it.......you see I just go to my employer and demand a raise so I can pay the interest on my CC's and have enough left over to eat out twice a week, go to the theater, and I just have to shop for new clothes.  I mean I'm entitled to all that, right?  That's how I'm going to get out of debt.......spend more than I can afford.  Makes sense to me if it make sense to you. :matte-motes-big-grin:

 

It's that moronic logic that got us here...........it won't get us out of this mess.  And, if trickle down economics doesn't work, why were the late 80's and most of the 90's so successful for our economy?  Don't continue showing stupidity.......it's unbecoming to you.

[Anaiya Arnold]

The big guys are doing really very well indeed, better than ever, yet the rest of us.......

 

[Dresden Ceriano]

While we may disagree, I wouldn't have stooped to calling you stupid. If I thought you capable of having a rational debate about this I might have continued with this discussion. As it is, I'll leave you and your choir to your singing. Have a good night.

...Dres

[amarock Amat]

What or how it works is the essecne of this..and yes reganomics does not work...but anyways.

 

 

You raise the cap up, so you have enough space to make a u-turn wiht your vehicale supposably, by raising the tax's and lowering your spending it gives you enough room to starts pumping the debt back down. With these efforts  you can do a controled  repayment although some suffering will be caused by cut public programs. Although personly I would love to see a new era of eisenhowerish war/defensive spending.

 

Taking all the efforst in the iraq and afgan and spending it internally by better bridges,redoing the highways and just better infastructres over all. That would make the money spent internal atlest, giving local econmies huge boost versus it all being spent overseas and leaking out of our own transfer of cash, and providing  a fix to future issues and better trasnportation for our goods and services  once more reestablishing the physical commerace system.

[Randall Ahren]

The vast majority of people lead lives of quiet desperation. They've become domesticated animals, waiting for their masters to feed them. The greatest thrill in life is mastering the ability to survive and thrive without the help of overlords who pretend to look out for our best interests. Whoever you are and wherever you are, it's time to forget about all the ways you've been promised safety and comfort. Write your own personal declaration of independence starting today. 

Freedom is the ultimate addiction. It's a fire that draws us like moths. You circle it, singing your wings from time to time until finally you can stand it no more and take that fiery plunge. Whether the fire destroys you or purifies you, depends on who think you are. 

The economy in SL is big and spans the globe. I'm not sure how large it is, I've seen reports that puts it at over half a billion in USD. Deficit or recession, that's a lot of Linden dollars being exchanged. It's raining soup. Grab a bucket and get some of it.