[quote]PRCalDude wrote:
katzenjammer wrote:
LIFTICVSMAXIMVS wrote:
The irony is that this whole issue is because prices are too high. Prices actually need to come down before it will be over.
LOL! I hear people/politicians/pundits talking earnestly about the need to “shore up” housing prices. Even people who should know better. Bassackwards.
I know. Just what me and my wife need - shored up housing prices! Why, if starter homes in SoCal don’t stay over half a million, what will we do?[/quote]
There’s trailer homes in Seal Beach, pretty cheap. Hehe.
[quote]skaz05 wrote:
Sorry guys. You’re right AonG I AM watching too much CNBC…
You guys are right. I realize it is silly to worry about this shit now. My biggest concern is rising prices on food, rent, and the electric bill, my three main expenses.
I’ll chill out.[/quote]
Bailout or no bailout, price of food is going up. More mouths to feeds ensure that. And no, I don’t count the freakshow tomato that stays taut for 6 months as food nor the hormone pumped up cattle that’s never seen the sun.
Rent is a different story. It’ll probably stay the same, or even come down should more shit hit the fan. So, unless you’re spending more on food than rent, it shouldn’t be that bad.
Worst case scenario, you can enlist in the military and go democratize the shit out of countries.
[quote]AssOnGrass wrote:
I must admit I am at a crossroads here today. I work in an industry heavily dependent upon people’s discretionary income (personal trainer).
The months as of late the client pool has been drying up as the people making under 100k per year has been less likely to pay for services. These people probably made up about 30% of my client base. The other 70% have been a little more resistant to the economic downturns as they have the funds to weather the small things. My concerns are that these clients who are more “wealthy” are generally very smart with their finances and will stop training when their discretionary income starts drying up. Hell I even train a real estate lawyer and his wife (an engineer who lost her job a month ago). Also I had a client who worked for a bank… needless to say she lost her job too and stopped training.
I am trying to hold strong in my ideals that this plan is not the right thing to do in the long run. Unfortunately I know if things get much worse I will be without a job as the business partner of my manager got in too far over his head opening up an additional studio before things were running on auto pilot at the studio I work at.
I don’t know what the point of this post really is… just stating where a lot of American’s minds are at right now I guess.[/quote]
AOG
No business owner is happy with the state of affairs right now. It’s tough being in a business that relies on discretionary income when fear sets in. The business will not go away for good though. Try and weather it out. If you can’t then find something else to pay the bills. Highly motivated people are always in demand.
I have a many employees in my company and we run a successful small business. I’ve also been flat broke twice and technically bankrupt. Just need to stick to your ideals.
Bottom line. I don’t see a lot of the problems that I am reading about. Credit hasn’t dried up for us. We aren’t heavily leveraged either but credit is still available. Orders have slowed a bit but it is Q4 and things always slow down this time of year. Big financials are screwed but they have made a lot of money over the years. Time to pay the piper for Wall Street.
[quote]lixy wrote:
skaz05 wrote:
Sorry guys. You’re right AonG I AM watching too much CNBC…
You guys are right. I realize it is silly to worry about this shit now. My biggest concern is rising prices on food, rent, and the electric bill, my three main expenses.
I’ll chill out.
Bailout or no bailout, price of food is going up. More mouths to feeds ensure that. And no, I don’t count the freakshow tomato that stays taut for 6 months as food nor the hormone pumped up cattle that’s never seen the sun.
Rent is a different story. It’ll probably stay the same, or even come down should more shit hit the fan. So, unless you’re spending more on food than rent, it shouldn’t be that bad.
Worst case scenario, you can enlist in the military and go democratize the shit out of countries.
This is great news. The backers of this bill tried to scare the public with “We gotta do something, or we’re going to sink”. Looks like people are not buying that and have pressured their representatives.
Get back to work and find a solution that does not put us deeper into the credit whole with China and gives some relief to regular folks, not Wall Street fat cats.
Headhunter gave an extreme low of 3000 on the S&P. I doubt it will get that bad, but the stop off he mentioned at 8000 is very likely. I hope it only goes down to 9500 or so, in the next year to year and a half. That would indicate the long term bull is still in place.
If it does break that 8000 level, I’m sorry to say, it’s time time climb in the bunker with HH because it’s going to get very, very ugly.[/quote]
Those numbers are for the Dow. The S&P 500 is now at about 1100 and crashed through numeous support levels.
I’m actually an eternal optimist. But also a realist — you can’t have 10 trillion in debt, promise 50 trillion in future goodies and expect anything but disaster.
I’m on board with this about 100%. A free market solution, based in law, tried-and-true, the bad get punished and whatever good of this remains:
Commentary: Bankruptcy, not bailout, is the right answer
[i]CAMBRIDGE, Massachusetts (CNN) – Congress has balked at the Bush administration’s proposed $700 billion bailout of Wall Street. Under this plan, the Treasury would have bought the “troubled assets” of financial institutions in an attempt to avoid economic meltdown.
This bailout was a terrible idea. Here’s why.
The current mess would never have occurred in the absence of ill-conceived federal policies. The federal government chartered Fannie Mae in 1938 and Freddie Mac in 1970; these two mortgage lending institutions are at the center of the crisis. The government implicitly promised these institutions that it would make good on their debts, so Fannie and Freddie took on huge amounts of excessive risk.[/i]
…more
[/quote]
Good stuff. McCain in his response early this evening talked about “going back to the drawing board” - I hope the Republicans do this and consider ideas like the above.
[quote]lixy wrote:
skaz05 wrote:
Sorry guys. You’re right AonG I AM watching too much CNBC…
You guys are right. I realize it is silly to worry about this shit now. My biggest concern is rising prices on food, rent, and the electric bill, my three main expenses.
I’ll chill out.
Bailout or no bailout, price of food is going up. More mouths to feeds ensure that. And no, I don’t count the freakshow tomato that stays taut for 6 months as food nor the hormone pumped up cattle that’s never seen the sun.
Rent is a different story. It’ll probably stay the same, or even come down should more shit hit the fan. So, unless you’re spending more on food than rent, it shouldn’t be that bad.
Worst case scenario, you can enlist in the military and go democratize the shit out of countries.
Smile.[/quote]
Go crawl back in your hole. You have no clue what you are talking about in this particular arena.
All prices are will come down. Commodity prices are falling right along side oil.
Please - unless syou can demonstrate a better mastery of the subject at hand - just shut the fuck up.
Headhunter gave an extreme low of 3000 on the S&P. I doubt it will get that bad, but the stop off he mentioned at 8000 is very likely. I hope it only goes down to 9500 or so, in the next year to year and a half. That would indicate the long term bull is still in place.
If it does break that 8000 level, I’m sorry to say, it’s time time climb in the bunker with HH because it’s going to get very, very ugly.
Those numbers are for the Dow. The S&P 500 is now at about 1100 and crashed through numeous support levels.
I’m actually an eternal optimist. But also a realist — you can’t have 10 trillion in debt, promise 50 trillion in future goodies and expect anything but disaster.
[/quote]
You haven’t uttered an optimistic word in at least a year.
You love to skew the numbers, and find graphs to support them.
You make the mistaken assumption that we are upside down. You also make the assumption that people buying the debt are fools.
You are wrong on both counts. When we stop being a good borrower, people will stop lending us money.
On one hand you are crying about the debt, and at the same time you are buying that debt. Your words are in direct opposition to your actions, or vise-versa.
[quote]entheogens wrote:
This is great news. The backers of this bill tried to scare the public with “We gotta do something, or we’re going to sink”. Looks like people are not buying that and have pressured their representatives.
Get back to work and find a solution that does not put us deeper into the credit whole with China and gives some relief to regular folks, not Wall Street fat cats.[/quote]
Why does the left keep leaving out the stupid fucks who took out home loans they couldn’t afford?
If I heard it once, I heard it 50 times today - “that we should work to keep homeonwners in their homes”.
Why?
If I am late on my mortgage (hypothetical - since I paid off my mortgage last year), I deserve to lose my home. That’s how it’s written on the contract I signed with the bank. If we refuse to bail out Wall Street - I want every swinging dick in default on their mortgage kicked out on their ass.
There is welfare being handed out above me and below me, and every SOB like me are the ones paying the bill.
Was at the gym and and the grocery store this evening.
I’m amazed at how little it takes for people to panic. It shows that no one really has a clue, and/or they are so absolutely cued to the TV to tell them how to think that they’re hopeless.
Lixy-- just fyi, at least in the parts that I know of in the US, rents are increasing daily because of demand due to foreclosures on people who should never had houses to begin with, like say those who landed a house with no money down or balloon payments for a house 10x their annual salary because of politically correct credit instead of financially correct credit.
Why does the left keep leaving out the stupid fucks who took out home loans they couldn’t afford?
If I heard it once, I heard it 50 times today - “that we should work to keep homeonwners in their homes”.
Why?
If I am late on my mortgage (hypothetical - since I paid off my mortgage last year), I deserve to lose my home. [/quote]
Call me a callous SOB, but I believe some people do not deserve to own a home. That is-- if you cannot afford it, you should not have it.
I worked my ass off to save a down payment for a half-decent house (certainly not my dream home) and I pay my mortgage every month. There are times when I was late, and you know what? – I lost sleep over it.
Some people don’t lose sleep-- they know Uncle Sugar is going to give them a free ride on a home they have no business being in. Irony? I’m paying for it.
[quote]on edge wrote:
PRCalDude wrote:
katzenjammer wrote:
LIFTICVSMAXIMVS wrote:
The irony is that this whole issue is because prices are too high. Prices actually need to come down before it will be over.
LOL! I hear people/politicians/pundits talking earnestly about the need to “shore up” housing prices. Even people who should know better. Bassackwards.
I know. Just what me and my wife need - shored up housing prices! Why, if starter homes in SoCal don’t stay over half a million, what will we do?
There’s trailer homes in Seal Beach, pretty cheap. Hehe.[/quote]
[quote]Inner Hulk wrote:
Because no republicans are supporting this…[/quote]
I’m not for this either BUT I heard a speech Bush gave at HUD in 2003 where he said not enough minorities own homes. Thus banks were pressured into giving loans to people who really shouldnt have gotten them to begin with. He wasnt the first to say/start this but he sure a hell didnt help to block it.
[quote]jawara wrote:
Inner Hulk wrote:
Because no republicans are supporting this…
I’m not for this either BUT I heard a speech Bush gave at HUD in 2003 where he said not enough minorities own homes. Thus banks were pressured into giving loans to people who really shouldnt have gotten them to begin with. He wasnt the first to say/start this but he sure a hell didnt help to block it.[/quote]
The “ownership society” speech. Bush has nothing in his head but air. Sure, the IQ’s there, just not the utilization. Exhibit A was him having CAIR over for Ramadan dinner. Brilliant.
Why does the left keep leaving out the stupid fucks who took out home loans they couldn’t afford?
If I heard it once, I heard it 50 times today - “that we should work to keep homeonwners in their homes”.
Why?
If I am late on my mortgage (hypothetical - since I paid off my mortgage last year), I deserve to lose my home.
Call me a callous SOB, but I believe some people do not deserve to own a home. That is-- if you cannot afford it, you should not have it.
I worked my ass off to save a down payment for a half-decent house (certainly not my dream home) and I pay my mortgage every month. There are times when I was late, and you know what? – I lost sleep over it.
Some people don’t lose sleep-- they know Uncle Sugar is going to give them a free ride on a home they have no business being in. Irony? I’m paying for it.[/quote]
[quote]lixy wrote:
skaz05 wrote:
Sorry guys. You’re right AonG I AM watching too much CNBC…
You guys are right. I realize it is silly to worry about this shit now. My biggest concern is rising prices on food, rent, and the electric bill, my three main expenses.
I’ll chill out.
Bailout or no bailout, price of food is going up. More mouths to feeds ensure that. And no, I don’t count the freakshow tomato that stays taut for 6 months as food nor the hormone pumped up cattle that’s never seen the sun.
Rent is a different story. It’ll probably stay the same, or even come down should more shit hit the fan. So, unless you’re spending more on food than rent, it shouldn’t be that bad.
Worst case scenario, you can enlist in the military and go democratize the shit out of countries.
Smile.[/quote]
Worst case scenario (for you) would be the financial problem spreading globally (to Sweden) and the Swedes actually get fed up enough with things to start shooting the Arabs who don’t belong there (you).
[quote]rainjack wrote:
Headhunter wrote:
on edge wrote:
Headhunter gave an extreme low of 3000 on the S&P. I doubt it will get that bad, but the stop off he mentioned at 8000 is very likely. I hope it only goes down to 9500 or so, in the next year to year and a half. That would indicate the long term bull is still in place.
If it does break that 8000 level, I’m sorry to say, it’s time time climb in the bunker with HH because it’s going to get very, very ugly.
Those numbers are for the Dow. The S&P 500 is now at about 1100 and crashed through numeous support levels.
I’m actually an eternal optimist. But also a realist — you can’t have 10 trillion in debt, promise 50 trillion in future goodies and expect anything but disaster.
You haven’t uttered an optimistic word in at least a year.
You love to skew the numbers, and find graphs to support them.
You make the mistaken assumption that we are upside down. You also make the assumption that people buying the debt are fools.
You are wrong on both counts. When we stop being a good borrower, people will stop lending us money.
On one hand you are crying about the debt, and at the same time you are buying that debt. Your words are in direct opposition to your actions, or vise-versa. [/quote]
If I expect the worst, when it comes I am prepared. If it doesn’t come, then I am pleasantly surprised.
— with apologies to Ben Franklin
[quote]PRCalDude wrote:
jawara wrote:
Inner Hulk wrote:
Because no republicans are supporting this…
I’m not for this either BUT I heard a speech Bush gave at HUD in 2003 where he said not enough minorities own homes. Thus banks were pressured into giving loans to people who really shouldnt have gotten them to begin with. He wasnt the first to say/start this but he sure a hell didnt help to block it.
The “ownership society” speech. Bush has nothing in his head but air. Sure, the IQ’s there, just not the utilization. Exhibit A was him having CAIR over for Ramadan dinner. Brilliant. [/quote]
OMG!!! Someone else who knows about the evils of CAIR? I thought I was all alone.
[quote]rainjack wrote:
Go crawl back in your hole. You have no clue what you are talking about in this particular arena. [/quote]
Arena? All I’m doing is speculate.
And the bases belong to whom again?
This is stupid on two counts. First, you assume that the fluctuations we’re seeing are permanent and/or significant. Unless cold fusion is demonstrated tomorrow morning, oil is on an upward trend and will stay that way until we suck it all up. It’s like markets getting an asswhooping lately. They go up after some government announces new rates, bailouts, etc. but as soon as that wears out (usually within days) it gets knocked down some more.
Secondly, the bulk of food’s price hikes of food was independent of oil prices. Organic butter isn’t more expensive today than it was last year because of transportation cost or plastic spatulas. It’s simply because a) people are eating more and b) more people are eating.
