Recession Support Group (no enablers allowed!)

[Dane]

Bump.

My "resolution" this year has been to drastically slow down on the spending and cut-off the major purchases until at least the Spring. I've spent enough this year that I probably could have phased out much of my consumer debt...instead of doubling it.

This will be a tough few months.

[Faust]

/\ Post irrelevant without context. Let's see some last year's porn!

[Dane]

/\ Post irrelevant without context. Let's see some last year's porn!

I'm not much for flaunting.

[beardown]

Here's a few random things I've noticed about how the economy has affected buying (and reselling) to a degree:

1. It seems like some of the bigger dudes are bowing out gracefully. Kunk the obvious exclusion. He's still on a buying rampage and I say good for him. I'm glad that someone I kind of know is doing well in this current economic slump.

But the pieces I've tried to sell that were larger seemed like they were sitting in the middle of a desert, tumbleweeds and all. With vultures flying around.

2. The big ballers are still balling. That's to say that you'd have better luck selling a $3,000 CCP leather than you would selling an $700 Ann coat or a $300 Julius hoody.

Just like with the world, the poor have become poorer and for the most part, the rich have still become richer. So trying to sell mid-level stuff is pretty difficult. You can sell $100 and less items all day on sufu but if you're trying to sell a rare leather right now or a pair of nice Guidi boots, it just seems like there's either no interest or their is interest but no money. "I know you're trying to sell those $1200 boots for $625 but would you take $300 for them?"

"No. No I won't. I'll cut them up into little pieces and eat each shoe or make a very uncomfortable pillow out of them before I see them sell for $300."

3. Shops have discounted so deep that you can almost buy new items for as much as most people sell things used. I know that's always existed to a degree but there is more and better stuff left as the discounts get deeper. I am almost ashamed to report some of the things I've purchased in the past month for pennies on the dollar online from retail places. Better than Yoox, better than consignment and better than the classifieds if you find what you're looking for.

I love politics but I'm no economist. These are just my own personal observations. I dealt with a pretty significant personal blow because of an illness in my family this past year and didn't have the time or energy to worry too much about what I was wearing and I bought next to nothing. Like most people, that meant I worked less and made less so knowing what I'm dealing with in my personal life, I'm being more cautious about my finances. And I'm one of those people who believe that it will continue to get worse based on the signs we've seen.

If you're a mid-level baller, I'd hang onto your cash for a while. As a wise man once said, 'I love Guidi boots but I do not think I could eat a whole one.'

That's my pep talk for the economically distressed. Go back to your roots, hit some thrift stores, be creative and resourceful. Remember stenciled spray painted t-shirts from 1983? Maybe it's time to explore that again. Find a friend who is handy with a sewing machine and work with them to alter garments that no longer fit you or create your own ninja outfit out of black pillowcases and a couple of fitted sheets. The elastic would probably create a really nice twisted seam leg.

Good night and good luck.

[Dane]

I concur with much of what you say. It definitely seems like the high-end stuff disappears before you even get to think about it...it often surprises me that people have so much disposable income lying around.

Someone made a comment recently in another thread that there seems to have been a change in SZ from discussing fashion and art to discussing where to purchase said fashion/art at a discount. I will never say that I'm not a consumer, but I hope that issues balances itself out...partially because I enjoy the discussions more than the questions, but also because I'd love to follow the principle of enjoying what you already own.

[Faust]

/\ Meh, people have been saying it for years.

SZ IS WHAT WE MAKE IT.

[theconsumer]

I mostly agree with beardown, but ... :)

- money in the bank or stock market is not particulary safe. Even if you have millions, they may be as secure as droplets in the vast stormy sea (MF Global, as latest example). So, why save if risk and inflation eat your savings away faster and faster ?

- as elaborated elsewhere, cost of garment construction and materials is increasing. You might not be able to afford/get what you can buy now at some later date. Ever.

- some rare garments may still be like antiques, having resale value, even if used. You might have to wait many months for a right person which wants exactly this item in exactly this size badly enough, but at least stakes are much lower than investing in houses, cars or interior design

- and finally, people will starve to obtain desirable objects :)

[beardown]

I wouldn't put money in the stock market right now. I wouldn't particularly put it into gold either with the recent dip. So I'm not suggesting that. But money on hand will be way more handy that a closet full of the latest fashunz if things do continue to get worse. That's all I'm saying.

And I was drunk last night so don't listen to me. I drink about 5 times a year. Some people get drunk and dance or drunk and fight...I drink and then type. It's a horrible affliction...I've made an ass of myself on here before doing the very thing.

I do remain impressed with my typing abilities when I'm three sheets to the wind. It took me 4 minutes to find the light switch to my bathroom last night but somehow I can still manage to eek out a drunken post without too many spelling errors.

[eton97]

Some really interesting observations.....

Just to add my 2 cents worth:

- I completely agree. There is no way I would be putting my personal money to play in the stock market right now. As an individual, you are up against big institutions and hedge funds, and while they are happy to sell on the bounces rather than buy on the dips, you haven't got a chance

- nothing actually happened in 2011. There was a lot of talk about the world ending, recession in the largest global economies (US/china), Europe going down the drain, The PIGS defaulting etc, but nothing ACTUALLY happened. 2012 is going to be the year when the shit hits the fan.

- gold has had a sell-off, but it was well needed. But while it is a global store of wealth (on a personal and nation level) and a partial inflation hedge, I would still be a happy buyer. I still think $2000/oz is a very likely scenario. Certainly if the ECB doesn't start printing money soon (which it can't do until the Germans agree)

- I'd be buying oil and gold (via ETFs) and would also hold cash (and only in US$), as it's cash flow issues which cause most bankruptcies/defaults....oh and i'd buy a bit of ccp just to look cool as the bailiffs frog march me out of my highly levered house

[Faust]

Eton, could you please time the Euro crash to two weeks from now when I am in Paris? I am really tired of feeling poor when I'm there.

[theconsumer]

IMHO, you can't event put your money out of the stock market (or better said, virtual finance market, including currencies and derivatives market). If you put it in a bank, it's just a very small chip with which bank plays in global financial casino, rather desperately. It's still the same game if you play with gold chips or paper chips ... gold may be physical, may be even in your cellar, but its value floats upwards because it's attached to the global financial balloon ...

[obsi]

Just blow everything on new outfits, gotta look good in the post apocalypse.

[theconsumer]

In the apocalypse, you have to be either a warlord or inconspicious.

Seriously though, fashion thrives during hard times. Gangs of New York, anyone ...

[theconsumer]

SZ gang ?

[ES3K]

Beardown, please drink more often