The "R" word

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NileBDS

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All practicing dentists out there ...

How many of you are feeling the crunch of our economy as 2007 winds down ?
How has it affected your practice (if at all) ? Cancellations, collections, ... ?
What does this mean to those of us entering the market ?

Do you think we are headed for an economic recession ?
 
No nothing has changed for me. I honestly expect next year to be the same if not more profitable.
It's no coincidence the word "recession" suddenly is virtually all coming from the left-leaning pro-Democratic economists during an election year. The message is then further aided and reinforced by the our left-leaning pro-Democratic major news outlet. Don't expect to hear any positive news about the anything here in the United States until about 2009, when their goddess Hillary become the President.
 
No nothing has changed for me. I honestly expect next year to be the same if not more profitable.
It's no coincidence the word "recession" suddenly is virtually all coming from the left-leaning pro-Democratic economists during an election year. The message is then further aided and reinforced by the our left-leaning pro-Democratic major news outlet. Don't expect to hear any positive news about the anything here in the United States until about 2009, when their goddess Hillary become the President.

If you really believe the significant potential for a recession in 2008 is something conjured up by the dems, then go stick your head back in the sand. (not a lefty either).
 
Of course the potential is there and we may get one, but everyone's sour mood is a direct result of biased media manipulations prior to the election. Don't expect any good news from the news outlet until their goddess is elected. I'll go stick my head back in the sand until the election is over and they report America is suddenly a great nation again.
 
Of course the potential is there and we may get one, but everyone's sour mood is a direct result of biased media manipulations prior to the election. Don't expect any good news from the news outlet until their goddess is elected. I'll go stick my head back in the sand until the election is over and they report America is suddenly a great nation again.

What biased media are you referring to? The only real biased "news" source out there is Fox News, which is really not news. I'm not trying to get into a political argument with you, however. To respond to the original post here, though, unfortunately a recession seems inevitable now. With the current govt's astronomical spending, weakness of the dollar internationally, ongoing cost of the war, and the problems with the housing market, a recession WILL happen and is already beginning. Most major economists agree on that point.

What I am most interested in is a response to the real question here: what will the impact on dental practices?
 
What biased media are you referring to? The only real biased "news" source out there is Fox News, which is really not news.
If you don't realize CNN and Fox News are two equal and opposite examples, either you haven't been paying much attention or you're not as perceptive as you seem to think.

I'm not trying to get into a political argument with you, however.
Fair enough--but you don't get to ask provocative questions and then beg off that you're not trying to argue. Like it or not, ask and ye shall receive.

To respond to the original post here, though, unfortunately a recession seems inevitable now. With the current govt's astronomical spending, weakness of the dollar internationally, ongoing cost of the war, and the problems with the housing market, a recession WILL happen and is already beginning. Most major economists agree on that point.
I can't speak to this directly, but my (finance corporation risk analyst) wife thinks you're still a few electives short of your MBA. I'll defer to her on this one.
 
What biased media are you referring to? The only real biased "news" source out there is Fox News, which is really not news. I'm not trying to get into a political argument with you, however. To respond to the original post here, though, unfortunately a recession seems inevitable now. With the current govt's astronomical spending, weakness of the dollar internationally, ongoing cost of the war, and the problems with the housing market, a recession WILL happen and is already beginning. Most major economists agree on that point.

What I am most interested in is a response to the real question here: what will the impact on dental practices?

Fox News is “fair and balance”. They report news that the other news networks try to hide. We will face severe economic recession when we are attacked again. You should thank the current administration for working so hard to prevent another attack from occurring since 9/11/01. The recession will occur and unemployment rate will go up when small business owners like us have to pay higher tax.
 
haha, this is funny. I love to hear a bunch of dentist/dental students talk about business or national economic issues. lol
 
Fox News is “fair and balance”. They report news that the other news networks try to hide. We will face severe economic recession when we are attacked again. You should thank the current administration for working so hard to prevent another attack from occurring since 9/11/01. The recession will occur and unemployment rate will go up when small business owners like us have to pay higher tax.

Fox = fair and balanced? LOL. Thats the best joke I've heard today. I've seen Fox news deliberately distort stories SO MANY TIMES and I've seen them do reports completely OUT OF CONTEXT countless times. This is the network that has Bill O'Reilly for God's sake. I would say they're more biased than CNN. CNN is trashy too, but Fox takes it to a whole other level. And I'm not a "liberal".

I'm always grateful of our military/nation for protecting us but I call it as I see it.
 
Do you think we are headed for an economic recession ?
Too many red flags across the board.

Well, lets see... the country is in a lot of debt (thanks to mainly IRAQ war), the interest rates are sky rocketing, U.S. dollar is weak (Canadian dollar is stronger than our currency, when was the last time that happen? 🙄 ), oil prices are setting records every week (average gas prices are expected to jump to around $4.00 per gallon in 2008), mortgage and real estate market crisis (will continue to suffer for a long, long time to come), too much imports (China is now importing crayons for free!), a lot of good paying jobs are being outsourced (DELL moved to India! 😱 ), inflation (I don't know if some of you noticed, a lot of food prices have gone up over the years, a gallon of milk has gone up by $2-3 in many places), etc...

who do you blame? Bush? OPEC? FOX NEWS? 😀

One thing is for sure, if TAXES are raised, we will hit the "R" word overnight, and possibly the "D" word (depression) with it.

IMHO, the solution is simple: congress needs to cut down on their crazy spending and work towards fixing the debt; i.e. quit the IRAQ war, focus more on domestic issues, and throw more cash on research for alternative fuel (oil), and cut back on dealing with nations that benefit from our problems.

2008 (and probably few years beyond) will continue to suck for the economy. 👎
 
IMHO, the solution is simple: congress needs to cut down on their crazy spending and work towards fixing the debt; i.e. quit the IRAQ war, focus more on domestic issues, and throw more cash on research for alternative fuel (oil), and cut back on dealing with nations that benefit from our problems.

2008 (and probably few years beyond) will continue to suck for the economy. 👎

Maybe you should write your congressman. You idiots don't know anything except what you read in the USA today. Stick to drill and fill for god's sake.
 
I thought this thread was about remediation. :laugh:
 
IF Romney becomes president, with his background, the stock market will jump through the roof the week he takes over and our dollar will begin a good turnaround on reputation alone.
 
Maybe you should write your congressman. You idiots don't know anything except what you read in the USA today. Stick to drill and fill for god's sake.

And what exactly are your credentials? What makes you such a high and mighty economics professor to make such a comment? There are quite a few dental students/dentists that also have an MBA along with the DDS/DMD. Loser👎.
 
IF Romney becomes president, with his background, the stock market will jump through the roof the week he takes over and our dollar will begin a good turnaround on reputation alone.

Wow, let me guess, you and Romney have something in common. Its amazing how statements like this and others are made without any mention of "MY OPINION ONLY". or "MY 2 CENTS". I like Romney considering whats available in the republican party, but Im not as upbeat as mr toofshucker here(who Im guessing is very familiar with Sandy, and Salt Lake, and other similar named places🙂.....) Just a guess.

In 2007 the economy grew 3.7%, unemployment was less then 5%, and inflation was about 3%. The projection for growth in 2008 is a bit less then 3%. The only real problem right now is the housing market. Why, because arm and interest only loans were offered to about anyone for the last 5 to 7 years. Now that these people cant afford their new mortgage payments, foreclosures are skyrocketed. Home costs are down, the federal reserve is bailing out banks and americans who need to refinance, the economy will be right back where it was in 6-18 months. The only thing to worry about(especially for small business owners LIKE DENTISTS) is when the left wing candidate is elected, decides to take more income from people that have spent hundreds of thousands of dollars on a degree (LIKE DENTISTS)to pay for the healthcare and other RIGHTS of americans who have decided not to find jobs, or push themselves in school, or be responsible with unaffordable reproduction...etc...etc...Obviously I am right winged opinionated, and remember this is just my opinion with the exception of the economy growth. BUt always remember, the baby boomers already have their nest eggs, and they are retiring. Regardless of the economy, people will be spending money on their teeth.
 
It's no telling what the politician may have under their sleeves for the future.
 
Wow, let me guess, you and Romney have something in common. Its amazing how statements like this and others are made without any mention of "MY OPINION ONLY". or "MY 2 CENTS". I like Romney considering whats available in the republican party, but Im not as upbeat as mr toofshucker here(who Im guessing is very familiar with Sandy, and Salt Lake, and other similar named places🙂.....) Just a guess.

In 2007 the economy grew 3.7%, unemployment was less then 5%, and inflation was about 3%. The projection for growth in 2008 is a bit less then 3%. The only real problem right now is the housing market. Why, because arm and interest only loans were offered to about anyone for the last 5 to 7 years. Now that these people cant afford their new mortgage payments, foreclosures are skyrocketed. Home costs are down, the federal reserve is bailing out banks and americans who need to refinance, the economy will be right back where it was in 6-18 months. The only thing to worry about(especially for small business owners LIKE DENTISTS) is when the left wing candidate is elected, decides to take more income from people that have spent hundreds of thousands of dollars on a degree (LIKE DENTISTS)to pay for the healthcare and other RIGHTS of americans who have decided not to find jobs, or push themselves in school, or be responsible with unaffordable reproduction...etc...etc...Obviously I am right winged opinionated, and remember this is just my opinion with the exception of the economy growth. BUt always remember, the baby boomers already have their nest eggs, and they are retiring. Regardless of the economy, people will be spending money on their teeth.

I believe we have greater things to fear then that. I would be happy to see some roll over of tax breaks received by say, the oil industry, pharmaceutical industry, ect.

I read an article in the times, which stated that the 5 largest oil companies enjoy a 15.8 billion dollar tax break. That is rediculous. It would seem to me any "left wing" who wants to stay in office, should take care of that before taxing the other 1.9999%.
 
Looking at some quick numbers for my practice(before the accountant does the final adjusting for write-offs, etc), 2007 saw my practices gross up just over 11%, and if you factor out basically a 5% increase in fees across the board that we did back in February, that puts us up just over 6% for the year. Not to bad.

We also had 487 new patients come through the door in 2007 compared to 464 in 2006. Once again not too bad.

Many dental practices will be fairly recession proof since if you're doing "bread and butter" stuff (restorative + crown and bridge + endo and hygiene) most patients realize the importance of this and continue to seek treatment to save their body parts. The vacation to Disney might get put on hold, but the body part gets taken care of more times than not. If you have a highly cosmetic driven practice, that tends to be laiden with consumers that aren't as effected(if at all) by any large scale economic slow down.

Patient visit wise, we're right at the normal levels too, a few extra no-shows/last minute cancellations in the last few weeks, but that usually happens around the Holidays and with inclement weather this time of year.

All in all, last year seems to have been a good year, and the quarterly numbers remained strong throughout.

Just remember with respect to a possible recession and dentistry. Dental utilization rates are running at a bit over 50% of the US population, so there are 130-140 million folks out there not seeking our services regularly, and not to generalize too much but often it's this part of the population that is most affected by the economic issues that are currently present (mortgage crisis, fuel prices, etc)
 
Up to this point the overall economy has been good. We've had annual GDP growth of over 3% since 2003 after we climbed out of the 9-11 slow down.

Stock mkt -very good
Housing - bad
Unemployment under 5% - very good
Oil $100 - bad


So far its only the housing slump and the credit markets that are hurting us. Its a mixed picture as every economy is. No economy has ever been perfect in every metric. For example in the 80s you had growth but not these low interest rates.

I would not get concerned unless you start to see unemployment numbers rise for 6 months, then I would start to get worried because business isn't investing.
 
That was true, until you read this.

That makes for:
Oil
Jobs
Housing
Sub-prime credit

Are we just ignoring the big white elephant in the room ?

On a lighter note, most dentists on dentaltown.com have been posting pretty good (and solid) numbers for 2007. Is our industry immune to all these fluctuations in the economy, or does it just take longer for it to catch up with us ?

Up to this point the overall economy has been good. We've had annual GDP growth of over 3% since 2003 after we climbed out of the 9-11 slow down.

Stock mkt -very good
Housing - bad
Unemployment under 5% - very good
Oil $100 - bad


So far its only the housing slump and the credit markets that are hurting us. Its a mixed picture as every economy is. No economy has ever been perfect in every metric. For example in the 80s you had growth but not these low interest rates.

I would not get concerned unless you start to see unemployment numbers rise for 6 months, then I would start to get worried because business isn't investing.
 
That was true, until you read this.

That makes for:
Oil
Jobs
Housing
Sub-prime credit

Are we just ignoring the big white elephant in the room ?

On a lighter note, most dentists on dentaltown.com have been posting pretty good (and solid) numbers for 2007. Is our industry immune to all these fluctuations in the economy, or does it just take longer for it to catch up with us ?

I'll wait to see if it is a trend or a seasonal thing. We gotta pay a price for the housing bubble, but hopefully we are at least 1/2 way there since prices have fallen and the 2001-2003 ARMS have reset for those homeowners who haven't become a statistic yet. Unemployment even at 5% is very low.

Thankfully people need to keep their teeth but perhaps they'll scale back on big time cosmetic work.
 
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