The Present State of the Economy and it's Impact on High Stakes FF

Hard heads · Post by **Hard heads** » Fri Feb 06, 2009 4:29 pm

My wife works for one of the few surviving strong banks and it was announced company wide, top to bottom a 5% pay decrease was being implemented to try and save money. Guess they aren't doing so well either.

wayne123 · Post by **wayne123** » Fri Feb 06, 2009 6:39 pm

Capitalism has proven to be very resilient. And the economy should start coming back in line later this year. However, the Congress has just made one of the largest blunders in U.S. history. Pumping nearly 1 trillion dollars into the public sector is going to result in massive inflation a couple years from now. Most likely 10-15%. This is typical of nations with single party rule. I trust we will recover, because I believe American is the exception. But, we seem to be making the same series of electoral mistakes that every declining nation makes. Soon a large majority of people will effectively pay no income tax and this will result in an even more demand oriented culture. I don’t know any soft way to put this…it looks real bad. If the American Socialist Party (also known as the Democrat Party) wins more seats in 2010…and this looks likely…I suspect that the high stakes fantasy industry will become an underground institution. The effective tax rate on bonus payoffs will increase to over 50%. Many in Congress already want a return to a top bracket of 72% and worse “a cap on maximum salaries or earnings for a year”. Our way of life is under attack and it looks like we may lack the will to defend it. Legal and “in the open” high stakes fantasy leagues will just be one small part of the liberties that will be sacrificed. The economic decline can be traced directly to the Socialist takeover of the U.S. House of Reps. The second blow came from George Bush when he accepted socialist ideology as a way to attempt a quick “legacy saving” bailout. Strike three was giving near complete control of the Federal government to people who resent capitalism. I do think this reflects the tenor of the country. Those who resist are certainly in the minority. In other words, we did this to ourselves. It may really be over this time. Ask yourself…will you play high stakes fantasy football when it is taxed at 72%?

Raiders · Post by **Raiders** » Fri Feb 06, 2009 9:24 pm

Originally posted by Hard heads:
My wife works for one of the few surviving strong banks and it was announced company wide, top to bottom a 5% pay decrease was being implemented to try and save money. Guess they aren't doing so well either.

Were does it stop with these banks?

1. They gave out bad mortgage's knowing people couldn't pay or keep up with there payments.
2. Than the Government BAILS out these banks and gives them 7 Billion dollars.

What do these banks do? Keep the money for themselfs.

3. Now there cutting pay and giving the workers more work for less money.

I ask, where does it END?

John

BillyWaz · Post by **BillyWaz** » Sat Feb 07, 2009 2:24 am

Originally posted by GK:
quote:Originally posted by Raiders:
quote:Originally posted by Hard heads:
My wife works for one of the few surviving strong banks and it was announced company wide, top to bottom a 5% pay decrease was being implemented to try and save money. Guess they aren't doing so well either.

Were does it stop with these banks?

1. They gave out bad mortgage's knowing people couldn't pay or keep up with there payments.
2. Than the Government BAILS out these banks and gives them 7 Billion dollars.

What do these banks do? Keep the money for themselfs.

3. Now there cutting pay and giving the workers more work for less money.

I ask, where does it END?

John [/QUOTE]...simply curious as to the effect this whole thing will have on the high stakes Fantasy Sports industry as well...are NFBC signups and other events currently suffering or are they on course to do well?...SNAKE [/QUOTE]245 posted signups with 6 full weeks until the contest. Need to average a little less than 25 signups a week.

So, I would say things are going well. Bottom line for high stakes fantasy sports IMO is people will find the $$$ to play IF.....

1) It is an outlet for them to escape from "everyday life"....CHECK!

2) The contest offers great customer service, pays out on time, and offers a fair game....CHECK, CHECK, CHECK!

No reason for the NFFC/NFBC to never sell out of events. Many people are aware of both of these great contests, bad economy or not.

Just my opinion.

KOTRAX · Post by **KOTRAX** » Sat Feb 07, 2009 6:42 am

Originally posted by BillyWaz:
quote:Originally posted by GK:
quote:Originally posted by Raiders:
quote:Originally posted by Hard heads:
My wife works for one of the few surviving strong banks and it was announced company wide, top to bottom a 5% pay decrease was being implemented to try and save money. Guess they aren't doing so well either.

Were does it stop with these banks?

1. They gave out bad mortgage's knowing people couldn't pay or keep up with there payments.
2. Than the Government BAILS out these banks and gives them 7 Billion dollars.

What do these banks do? Keep the money for themselfs.

3. Now there cutting pay and giving the workers more work for less money.

I ask, where does it END?

John [/QUOTE]...simply curious as to the effect this whole thing will have on the high stakes Fantasy Sports industry as well...are NFBC signups and other events currently suffering or are they on course to do well?...SNAKE [/QUOTE]245 posted signups with 6 full weeks until the contest. Need to average a little less than 25 signups a week.

So, I would say things are going well. Bottom line for high stakes fantasy sports IMO is people will find the $$$ to play IF.....

1) It is an outlet for them to escape from "everyday life"....CHECK!

2) The contest offers great customer service, pays out on time, and offers a fair game....CHECK, CHECK, CHECK!

No reason for the NFFC/NFBC to never sell out of events. Many people are aware of both of these great contests, bad economy or not.

Just my opinion. [/QUOTE]THIS IS TRUE BILLY BUT AT THE END OF THE DAY IF PEOPLE DON'T HAVE THE MONEY AND OR JOBS THEY DON'T HAVE IT.

THAT WAS PROVEN LAST YEAR WHEN WE FELL SHORT SELLING OUT BOTH EVENTS.

Jersey Dawg · Post by **Jersey Dawg** » Sun Feb 08, 2009 4:03 pm

If the economy continues to worsen, FF will suffer. Greg already knows that and has discussed the concept of lowering the entry fee to the 12-team event and offering a double header special.

WCOFF had their "holiday offer" and offered returning vets to "sponsor" newbies for a huge discount.

If the economy was running full speed ahead, then these types of "special" offers would not be needed. Both of these big events are run by smart guys who know things might be pretty rough come late summer.

Keep in mind, we not only have a tuff economic climate, but our net worth has been slashed, which is a big "hidden" factor in the back of our minds. Home prices DOWN. 401K's DOWN. Not condusive to spending money on fantasy sports.

Pete

[ February 08, 2009, 10:04 PM: Message edited by: Jersey Dawg ]

pizzatyme · Post by **pizzatyme** » Thu Feb 12, 2009 8:40 am

I can honestly say it is impacting me. I foresee that I will not play more than 1 (if that) high stakes contest.

I will also be nearly non-existant in the satellites.

It not for a lack of interest. It's all about priorities.

I wish everyone a quick recovery.

With the stimulus plan moving forward, I'm sure we're soon to be fixed. (tongue firmly in cheek!)