Downturns of the past

[C150J]

To our salty white hairs:

We have a lot of twenty-somethings on this forum, including myself. Would you guys mind sharing your experience with previous industry/economic downturns? My father has repeatedly told me that he's seen several recessions in his 70 years, and with each one comes a resurgence of prosperity.

Can you pinpoint the downturns you've experienced and seen in the aviation industry? I don't intend for this post to be negative, as my dad isn't even a pilot and can speak of similar strife in his own career. I just feel that a lot of us are hoping that there's light at the end of the tunnel (especially those furloughed) and might be more educated by listening to those that walked the path before us.

Thanks!

 

[TUCKnTRUCK]

Downturns are a myth created by management to keep the wages low, and moral in the crapper.

J/k

Everything moves in cycles

 

[Trip7]

This is not your everyday downturn. This downturn won't be quick, it won't be easy, and it surely won't be pretty. This is just the beginning. This financial crisis might turn out to be worse than the Great Depression itself.

 

[Ian_J]

This is not your everyday downturn. This downturn won't be quick, it won't be easy, and it surely won't be pretty. This is just the beginning. This financial crisis might turn out to be worse than the Great Depression itself.

Read below...

To our salty white hairs:

and might be more educated by listening to those that walked the path before us.

Thanks!

 

[skydog]

This industry, as others have pointed out, is cyclical. However, it seems to me that the cycles get more and more extreme each time. Seems that way anyway.

 

[SoCalAprch]

Things will get better but when is anyones guess. Maybe the economy will right itself and there will be a bunch of movement or maybe it will stabilize and we will just wait for the "mass retirement" of the 65ers. Either way if you really want it and stick with it doors will eventually start opening.

 

[Propilot]

This is not your everyday downturn. This downturn won't be quick, it won't be easy, and it surely won't be pretty. This is just the beginning. This financial crisis might turn out to be worse than the Great Depression itself.

I don't buy this. While I do believe anything could happen (including getting much worse), I don't buy into the hype that this is somehow "different" on some fundamental level.

If we are still in a mess 2-4 years from now, I will reconsider, but until then that talk is just just sounds like B.S.

Go back and read about the Tulip depression, Germany's depression, and countless other downturns throughout history. While they are all "different' and "unique" in some way you will find one common thread

after a few years....

....things start to turn around.

 

[slushie]

I'm hearing that everything's gunna turn around by next Tuesday.

 

[blee256]

This is not your everyday downturn. This downturn won't be quick, it won't be easy, and it surely won't be pretty. This is just the beginning. This financial crisis might turn out to be worse than the Great Depression itself.

The sky is falling!!!! but how is that possible with the messiah in office. CHANGE!, YES WE CAN!! chant it with me!

I'm hearing that everything's gunna turn around by next Tuesday.

Perfect, because I told Popeye thats the day I would pay him back for the hamburger he bought me today.

 

[mrivc211]

Perfect, because I told Popeye thats the day I would pay him back for the hamburger he bought me today.

Do you know how many years I've been waiting for someone other than me to use that line? If it wasn't for the internet, I think I'd be waiting a lot while longer.

 

[Velocipede]

I don't buy this "worse than the Great Depression" B.S. Most people are misinterpreting the "worse SINCE the G.D." as "worse THAN". Hate to break it to you, but it isn't.

We've got 7% unemployment. During the G.D. the U.S. had 30% unemployment. Quite a difference. Until you see bread lines several city blocks long, it isn't even close.

 

[falconvalley]

Do you know how many years I've been waiting for someone other than me to use that line? If it wasn't for the internet, I think I'd be waiting a lot while longer.

I love that one. One of my bosses at the Guard always uses that line when someone wants an IOU for the snack bar, lol.

 

[Lee D]

I don't buy this "worse than the Great Depression" B.S. Most people are misinterpreting the "worse SINCE the G.D." as "worse THAN". Hate to break it to you, but it isn't.

We've got 7% unemployment. During the G.D. the U.S. had 30% unemployment. Quite a difference. Until you see bread lines several city blocks long, it isn't even close.

No shantytown "Hoovervilles" yet either. While in her early 20's, my 97 year old grandmother spent some of the great depression years in the Moab, Utah area. She remembers people living tents, long term, on the banks of the Colorado river just outside of the town. If I recall my history correctly, that sort of thing was more common during that depression. Hopefully we won't come close to that level ever again.

 

[Lee D]

Perfect, because I told Popeye thats the day I would pay him back for the hamburger he bought me today.

:laff:

Whimpy that really takes me back!!

 

[Flyvne]

I think this thread is getting away from the point.... infact it never really got there so why stop now.

All my cloths got washed into the sea when I went skinny dipping in Hawaii once. I had to walk home naked. Boy was my face red!

 

[blee256]

I love that one. One of my bosses at the Guard always uses that line when someone wants an IOU for the snack bar, lol.

What do you do in the Guard? Air or Army?

 

[Boris Badenov]

 

[falconvalley]

What do you do in the Guard? Air or Army?

I'm a crew chief in the ANG.

 

[jtrain609]

Boris, you're the ####ing man.

 

[Minnesota_Flyer]

Boris, you're the ####ing man.

:yeahthat: