Economy great - for pawnshops

[FRED]

Economy great - for pawnshops
May 4, 2008 (Philadelphia Enquirer)

Carin Dillingham handed over her watch to the pawnbrokers at Society Hill Loan as if she were giving up one of her bones.

The 30-year-old bookkeeper stood pregnant, broke and sad under rows of pawned guitars hanging like curing hams from the ceiling of the ragged South Street shop. She got a $20 loan for her $200 Bulova, a gift from the Harley-Davidson Co., where she used to work.

"It feels so weird," said Dillingham, accompanied by her fiance, Pat Lapetina, 35, an unemployed ironworker doing painting jobs on the side. The couple recently moved to South Philadelphia from Florida to build a life.

"I worked hard for this watch. I'm middle-class, not poor. I can't believe I have to do this to buy gas."

Federal Reserve Chairman Ben S. Bernanke won't call what we're living through a recession. But at Society Hill and other such shops - where they measure economic misery in increasing volumes of pawned bling - they'll tell you that hard times are hard times, whatever label the eggheads affix.

"People are cleaning out their houses of gold, silver, whatever, to get money just to fill their cars with gas," said Nat Leonard, 51, whose grandfather opened Society Hill in 1929. "People are pawning out like crazy." more...

See Reflation without Representation

[Mega]

Re: Economy great - for pawnshops

............or they could watch "You Tube" and suss out how to make their own fuel!

85% of it anyway.

Or even not drive something the size of Aircralf carrier.

Welcome to a new brave World!

He He
Mega

[rabot10]

Re: Economy great - for pawnshops

............or they could watch "You Tube" and suss out how to make their own fuel!

85% of it anyway.

Or even not drive something the size of Aircralf carrier.

Welcome to a new brave World!

He He
Mega

OK Mike I agree lol

[metalman]

Re: Economy great - for pawnshops

OK Mike I agree lol

maybe the usa can pawn an aircraft carrier or two to china? just a thought...

[Guest]

Re: Economy great - for pawnshops

Economy great - for pawnshops
May 4, 2008 (Philadelphia Enquirer)

Carin Dillingham handed over her watch to the pawnbrokers at Society Hill Loan as if she were giving up one of her bones.

The 30-year-old bookkeeper stood pregnant, broke and sad under rows of pawned guitars hanging like curing hams from the ceiling of the ragged South Street shop. She got a $20 loan for her $200 Bulova, a gift from the Harley-Davidson Co., where she used to work.

"It feels so weird," said Dillingham, accompanied by her fiance, Pat Lapetina, 35, an unemployed ironworker doing painting jobs on the side. The couple recently moved to South Philadelphia from Florida to build a life.

"I worked hard for this watch. I'm middle-class, not poor. I can't believe I have to do this to buy gas."

Federal Reserve Chairman Ben S. Bernanke won't call what we're living through a recession. But at Society Hill and other such shops - where they measure economic misery in increasing volumes of pawned bling - they'll tell you that hard times are hard times, whatever label the eggheads affix.

"People are cleaning out their houses of gold, silver, whatever, to get money just to fill their cars with gas," said Nat Leonard, 51, whose grandfather opened Society Hill in 1929. "People are pawning out like crazy." more...

See Reflation without Representation

There's economic hard times and then there's economic idiocy and poor decision making skills.

Let's look at some of those decisions along the path to poverty.

You're 30, earn only a bookeeper's salary working for a company obviously vulnerable to economic downturns, since it markets luxury items to overextended baby boomers having midlife crises who require credit to purchase the product.

Yet you decide to engage in behavior which purposely or not, causes you to get pregnant sans the benefits of a stable marriage. Meanwhile, the father is also unemployed, he's a worker in another industry hardly full of promise, you do all this sans any savings apparently. You then choose to pawn the $200 item for $20 rather than selling it.

Go check out some of the estimates of the cost of responsibly raising a child today (I've seen $200,000 mentioned) and tell me that this isn't the real problem here. Two otherwise fit adults may have hard times, but they can make it even in a downturn.

I have a relative who delivers pizzas for a living and has 4 children, all planned, and a stay-at-home wife. Of course we all subsidize this through medicaid, food stamps, and other programs. The kids just went to disney world last month.

The real issue here is people having children they cannot afford, for whatever reason. And people who don't have their priorities straight. And maybe most of all, a society which permits and almost encourages this.

[Guest]

Re: Economy great - for pawnshops

To get an idea of how staggering out government folly is with these "tax rebates" and the other deficit inducing spending going on, in 1998 numbers a US nuclear carrier cost $8.1 billion, to operate over its 50 year lifespan. Call it $10 Billion today.

So we could sell all 12 carriers (give or take) in the fleet today, pocket the cash and saved operating costs, and it still wouldn't pay for the fun rebate checks we're sending out and encouraging folks to spend on things like flat screen tvs and vacations.

Our society has issues, to say the least, with responsibility and spending. Did we really think that we were that rich?

[metalman]

Re: Economy great - for pawnshops

To get an idea of how staggering out government folly is with these "tax rebates" and the other deficit inducing spending going on, in 1998 numbers a US nuclear carrier cost $8.1 billion, to operate over its 50 year lifespan. Call it $10 Billion today.

So we could sell all 12 carriers (give or take) in the fleet today, pocket the cash and saved operating costs, and it still wouldn't pay for the fun rebate checks we're sending out and encouraging folks to spend on things like flat screen tvs and vacations.

Our society has issues, to say the least, with responsibility and spending. Did we really think that we were that rich?

didn't you hear? deficits don't matter. you can print $$$ forever... never pay it back. it's magic.

[algerwetmore]

Re: Economy great - for pawnshops

There's economic hard times and then there's economic idiocy and poor decision making skills.

Let's look at some of those decisions along the path to poverty.

You're 30, earn only a bookeeper's salary working for a company obviously vulnerable to economic downturns, since it markets luxury items to overextended baby boomers having midlife crises who require credit to purchase the product.

Yet you decide to engage in behavior which purposely or not, causes you to get pregnant sans the benefits of a stable marriage. Meanwhile, the father is also unemployed, he's a worker in another industry hardly full of promise, you do all this sans any savings apparently. You then choose to pawn the $200 item for $20 rather than selling it.

Go check out some of the estimates of the cost of responsibly raising a child today (I've seen $200,000 mentioned) and tell me that this isn't the real problem here. Two otherwise fit adults may have hard times, but they can make it even in a downturn.

I have a relative who delivers pizzas for a living and has 4 children, all planned, and a stay-at-home wife. Of course we all subsidize this through medicaid, food stamps, and other programs. The kids just went to disney world last month.

The real issue here is people having children they cannot afford, for whatever reason. And people who don't have their priorities straight. And maybe most of all, a society which permits and almost encourages this.

Your relative may have the system figured out. I am continually amazed by this current generation's lack of concern over job security, hospital care, pensions, etc. Somehow they figure it will all work out and somebody will take care of them.

[zoog]

Re: Economy great - for pawnshops

Your relative may have the system figured out. I am continually amazed by this current generation's lack of concern over job security, hospital care, pensions, etc. Somehow they figure it will all work out and somebody will take care of them.

Which generation are you referring to? Sounds like baby boomers to me.;) Let's face it, we all have a sense of entitlement. As others have said, most people simply do not want to know about systematic problems. They just put their hands over their ears and say "nya nya nya nya", hoping somehow it will all work out. We as a society have taught ourselves to ignore the future. We never pause to consider what possible future consequences there might be for our actions, and when those consequences arrive, we absolve ourselves of personal responsibility for the actions that caused them.

[ax]

Re: Economy great - for pawnshops

There's economic hard times and then there's economic idiocy and poor decision making skills.

Let's look at some of those decisions along the path to poverty.

You're 30, earn only a bookeeper's salary working for a company obviously vulnerable to economic downturns, since it markets luxury items to overextended baby boomers having midlife crises who require credit to purchase the product.

Yet you decide to engage in behavior which purposely or not, causes you to get pregnant sans the benefits of a stable marriage. Meanwhile, the father is also unemployed, he's a worker in another industry hardly full of promise, you do all this sans any savings apparently. You then choose to pawn the $200 item for $20 rather than selling it.

Go check out some of the estimates of the cost of responsibly raising a child today (I've seen $200,000 mentioned) and tell me that this isn't the real problem here. Two otherwise fit adults may have hard times, but they can make it even in a downturn.

I have a relative who delivers pizzas for a living and has 4 children, all planned, and a stay-at-home wife. Of course we all subsidize this through medicaid, food stamps, and other programs. The kids just went to disney world last month.

The real issue here is people having children they cannot afford, for whatever reason. And people who don't have their priorities straight. And maybe most of all, a society which permits and almost encourages this.

When I was a medic in NYC, I frequented Section 8/government housing as you can imagine. It was no surprise to often find several young and healthy appearing adults along with multiple kids crammed onto a brand new couch, playing Nintendo on their big screen TV. Forget about food and clothes for the kids, forget about the cockroaches falling from the ceiling...

[metalman]

Re: Economy great - for pawnshops

There's economic hard times and then there's economic idiocy and poor decision making skills.

Let's look at some of those decisions along the path to poverty.

You're 30, earn only a bookeeper's salary working for a company obviously vulnerable to economic downturns, since it markets luxury items to overextended baby boomers having midlife crises who require credit to purchase the product.

Yet you decide to engage in behavior which purposely or not, causes you to get pregnant sans the benefits of a stable marriage. Meanwhile, the father is also unemployed, he's a worker in another industry hardly full of promise, you do all this sans any savings apparently. You then choose to pawn the $200 item for $20 rather than selling it.

Go check out some of the estimates of the cost of responsibly raising a child today (I've seen $200,000 mentioned) and tell me that this isn't the real problem here. Two otherwise fit adults may have hard times, but they can make it even in a downturn.

I have a relative who delivers pizzas for a living and has 4 children, all planned, and a stay-at-home wife. Of course we all subsidize this through medicaid, food stamps, and other programs. The kids just went to disney world last month.

The real issue here is people having children they cannot afford, for whatever reason. And people who don't have their priorities straight. And maybe most of all, a society which permits and almost encourages this.

warning... truth hurts and the language is tough...

[Slimprofits]

Re: Economy great - for pawnshops

When I was a medic in NYC, I frequented Section 8/government housing as you can imagine. It was no surprise to often find several young and healthy appearing adults along with multiple kids crammed onto a brand new couch, playing Nintendo on their big screen TV. Forget about food and clothes for the kids, forget about the cockroaches falling from the ceiling...

Saw the same sad scene in Boston many times...

[Guest]

Re: Economy great - for pawnshops

Ha! I've got that movie on my netflix list right now. I should get in in a few weeks.

(btw, one can see about 100 movies a year with Netflix for about the same cost as taking a family of 5 to the movies and buying them the usual drinks and snacks two or three times. All it requires is the ability to delay gratification for about 5 months till the movies come out on DVD)

[World Traveler]

Re: Economy great - for pawnshops

That is one of the funniest, most clever film clips I have ever seen. Thanks for posting it, Metalman. I'm going to pass it along to friends and family!

[c1ue]

Re: Economy great - for pawnshops

Idiocracy is a very funny movie - Mike Judge is da man.

My mental process when hearing a 'pop' will never be the same...