Is there a recession?
Fleet Owner
Joined: Jun 2004
Posts: 25,090
Likes: 1,112
From: Rio Rico, AZ.
Originally Posted by monckywrench
"So, Banks are really risking forclosing on a home during this point in time. But, that's just my own opinion. And no, it's not good when that many homes are being forclosed on."
I strongly agree. Many people who bought houses on ARMs would still live in and pay a mortgage they could afford, and the bank has discretion to renegotiate the mortgage and continue to make money.
"With the growing illegal population and our dependence upon cheap trade goods from China, I can certainly see where that line of thinking comes from. It's not much of a stretch.
Look at the Trans Texas corridor and the abominable outsourcing of so many jobs. I just don't see how a burgeoning consumer economy can survive without the disposable income to support it."
Chinas expansion and inflation rate are going to make it less competitive, and the influx of cheap labor plus the weakening dollar will eventually make US labor competitive worldwide. Our wages and standard of living after WWII were a unique case historically, and as the world caught up were never going to be sustainable.
The flip side is that US agricultural production feeds a lot of the world (and prices are rising, so the world is going to have to suck it up!) and the switch to biofuels is driving them higher (makes me smile, FTW, let them pay US for a change). Our exports are becoming more and more competitive, and there is no inherent reason we cannot rebuild industries we need vs clinging to our obsolete manufacturing in the doomed Rust Belt. (NuCor, for example, is busy building competitive steel mills.)
The current situation is necessary to drive the economic changes and energy changes we need to compete, because no way it was ever going to happen voluntarily. These things happen every few years, so the best advice is to spend your life carefully preparing to cover your ***.
I strongly agree. Many people who bought houses on ARMs would still live in and pay a mortgage they could afford, and the bank has discretion to renegotiate the mortgage and continue to make money.
"With the growing illegal population and our dependence upon cheap trade goods from China, I can certainly see where that line of thinking comes from. It's not much of a stretch.
Look at the Trans Texas corridor and the abominable outsourcing of so many jobs. I just don't see how a burgeoning consumer economy can survive without the disposable income to support it."
Chinas expansion and inflation rate are going to make it less competitive, and the influx of cheap labor plus the weakening dollar will eventually make US labor competitive worldwide. Our wages and standard of living after WWII were a unique case historically, and as the world caught up were never going to be sustainable.
The flip side is that US agricultural production feeds a lot of the world (and prices are rising, so the world is going to have to suck it up!) and the switch to biofuels is driving them higher (makes me smile, FTW, let them pay US for a change). Our exports are becoming more and more competitive, and there is no inherent reason we cannot rebuild industries we need vs clinging to our obsolete manufacturing in the doomed Rust Belt. (NuCor, for example, is busy building competitive steel mills.)
The current situation is necessary to drive the economic changes and energy changes we need to compete, because no way it was ever going to happen voluntarily. These things happen every few years, so the best advice is to spend your life carefully preparing to cover your ***.
Posting Guru
Joined: Sep 2002
Posts: 2,420
Likes: 3
From: Langhorne, PA
Yes...our work pay is stagnant..yet everything I need to buy has dramatically increased.
I call that a recession.
Wait till we find out how much money these wars are costing us...oh boy! I'm sure the person in charge has been lying about that too.
I call that a recession.
Wait till we find out how much money these wars are costing us...oh boy! I'm sure the person in charge has been lying about that too.
Thread Starter
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Post Fiend
Joined: Mar 2004
Posts: 24,418
Likes: 3
From: San Francisco, Ca.
Got this in my email.
Editor - ''Warren Buffet says the country is in a recession.
George W. Bush says the country is not in a recession.
Has Warren Buffet ever lied to you?''
Editor - ''Warren Buffet says the country is in a recession.
George W. Bush says the country is not in a recession.
Has Warren Buffet ever lied to you?''
Moderator
Joined: May 2007
Posts: 158,421
Likes: 11,986
From: Greenfield, MA
Originally Posted by sierraben
Got this in my email.
Editor - ''Warren Buffet says the country is in a recession.
George W. Bush says the country is not in a recession.
Has Warren Buffet ever lied to you?''
Editor - ''Warren Buffet says the country is in a recession.
George W. Bush says the country is not in a recession.
Has Warren Buffet ever lied to you?''
Hell yeah we're in a recession...definition of recession be damned!!! If you don't think so...reach around your back...grab your hair firmly with both hands...and pull your head out of your ****!!!
Postmaster
Joined: Sep 2002
Posts: 3,077
Likes: 1
From: None of your business
We may be in a little recession, but I don't think it's as bad as everyone wants it to be. We've been going like gangbusters for years now. There had to be a slowdown at some point.
The housing market is not in a slump, it's just been artificially run up and it's now reseting. Builders screwed themselves by just building and building with no regard to how much they could actually sell.
We are so overweight on credit that it's sick. People are just starting to get it that buying things with cash is the way to go. I feel 0% sorry for people losing their homes after agreeing to rediculous loans for houses that they can't afford. People are also way overdrawn on vehicles. These 50K trucks bought with little or nothing down are making you poor.
Oil is up and that sucks. Nothing you can do about it. Hopefully if we are having trouble paying for gas, then the Chinese won't be able to afford it and demand will go back down.
The point is that everything that goes up will come down. Our economy will go down shortly and then pick back up. If you're not overdrawn to the max, you'll be OK. If you are, then you're screwed.
Mike
The housing market is not in a slump, it's just been artificially run up and it's now reseting. Builders screwed themselves by just building and building with no regard to how much they could actually sell.
We are so overweight on credit that it's sick. People are just starting to get it that buying things with cash is the way to go. I feel 0% sorry for people losing their homes after agreeing to rediculous loans for houses that they can't afford. People are also way overdrawn on vehicles. These 50K trucks bought with little or nothing down are making you poor.
Oil is up and that sucks. Nothing you can do about it. Hopefully if we are having trouble paying for gas, then the Chinese won't be able to afford it and demand will go back down.
The point is that everything that goes up will come down. Our economy will go down shortly and then pick back up. If you're not overdrawn to the max, you'll be OK. If you are, then you're screwed.
Mike
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Post Fiend
Joined: Oct 2003
Posts: 9,176
Likes: 4
From: Western Central NV
The NWO is about making the world equal. To do that the USA has to brought down several notches. What we are seeing is not a recession or depression it will be the normal way of life in the US. The world rich people getting richer while the rest work for us for small wages. Kind of like a friend told me a few years ago, there will be Queen Bees & Worker Bees.
Postmaster
Joined: Jul 2003
Posts: 2,628
Likes: 0
From: Calgary, Canada
Originally Posted by kermmydog
The world rich people getting richer while the rest work for us for small wages. Kind of like a friend told me a few years ago, there will be Queen Bees & Worker Bees.
If you like reading about stuff like that, check out this book:
The first couple or so chapters kinda suck but it does get increasingly interesting.
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Post Fiend
Joined: Mar 2004
Posts: 24,418
Likes: 3
From: San Francisco, Ca.
Originally Posted by kermmydog
The NWO is about making the world equal. To do that the USA has to brought down several notches. What we are seeing is not a recession or depression it will be the normal way of life in the US. The world rich people getting richer while the rest work for us for small wages. Kind of like a friend told me a few years ago, there will be Queen Bees & Worker Bees.
Wasn't our last "recession" after 911, and that it lasted two years?
Instead of the U.S. being brought down several notches, it would be nice if the
rest of the world was brought up a few notches; of course that won't happen.
Post Fiend
Joined: Oct 2003
Posts: 9,176
Likes: 4
From: Western Central NV
We haven't seen anything to the depth that we are seeing it now. It would be nice if the rest of the world was brought up to our level, but that would be far to costly on the rich.
Last night on the news they were talking about how Phoenix can't rent space in Malls. How so many businesses are failing & can't pay rent forcing them to be evicted. How some of the NEW big malls that were planned 5+ years ago & are nearing completion can't find renters now that qualify.
We are being suppressed. Works have few rights now, the Unions have NO power. The thing is that BIG BROTHER that we feared in the 60s-70s isn't the Government, it is the Corporate World. Democracy somehow has been twisted to have us believe that is what our fore-fathers revolted for. Democracy is an out take of Corporate control of this country & those we has invaded over the years. Since about 1917 when when Germany became democratic.
I shouldn't get into these discussions. Few really see what I see. This is my last post on this subject.
Last night on the news they were talking about how Phoenix can't rent space in Malls. How so many businesses are failing & can't pay rent forcing them to be evicted. How some of the NEW big malls that were planned 5+ years ago & are nearing completion can't find renters now that qualify.
We are being suppressed. Works have few rights now, the Unions have NO power. The thing is that BIG BROTHER that we feared in the 60s-70s isn't the Government, it is the Corporate World. Democracy somehow has been twisted to have us believe that is what our fore-fathers revolted for. Democracy is an out take of Corporate control of this country & those we has invaded over the years. Since about 1917 when when Germany became democratic.
I shouldn't get into these discussions. Few really see what I see. This is my last post on this subject.
Post Fiend
Joined: Dec 2005
Posts: 6,110
Likes: 0
business has always been the big push in the world, nothing new.
about every policy or action that has ever occured can be traced back to business.
humans are consumers, we are born, live and die with consumerism. our actions are based around consumerism, our happiness is based around consumerism. sure not everyone but society as a whole is based like that.
what does that mean in relation to this thread...nothing! just felt like saying it.
recession? not until 2 consecutive quarters of shrinking.
we are at a slow down of course, but we been running it hard on credit. people are going to run out of credit and have to pay sometime, that sometime is starting now.
and its just me but i really am not a fan of these rate cuts.
about every policy or action that has ever occured can be traced back to business.
humans are consumers, we are born, live and die with consumerism. our actions are based around consumerism, our happiness is based around consumerism. sure not everyone but society as a whole is based like that.
what does that mean in relation to this thread...nothing! just felt like saying it.
recession? not until 2 consecutive quarters of shrinking.
we are at a slow down of course, but we been running it hard on credit. people are going to run out of credit and have to pay sometime, that sometime is starting now.
and its just me but i really am not a fan of these rate cuts.
Postmaster
Joined: Jul 2003
Posts: 2,628
Likes: 0
From: Calgary, Canada
Originally Posted by kermmydog
We haven't seen anything to the depth that we are seeing it now. It would be nice if the rest of the world was brought up to our level, but that would be far to costly on the rich.
Last night on the news they were talking about how Phoenix can't rent space in Malls. How so many businesses are failing & can't pay rent forcing them to be evicted. How some of the NEW big malls that were planned 5+ years ago & are nearing completion can't find renters now that qualify.
We are being suppressed. Works have few rights now, the Unions have NO power. The thing is that BIG BROTHER that we feared in the 60s-70s isn't the Government, it is the Corporate World. Democracy somehow has been twisted to have us believe that is what our fore-fathers revolted for. Democracy is an out take of Corporate control of this country & those we has invaded over the years. Since about 1917 when when Germany became democratic.
I shouldn't get into these discussions. Few really see what I see. This is my last post on this subject.
Last night on the news they were talking about how Phoenix can't rent space in Malls. How so many businesses are failing & can't pay rent forcing them to be evicted. How some of the NEW big malls that were planned 5+ years ago & are nearing completion can't find renters now that qualify.
We are being suppressed. Works have few rights now, the Unions have NO power. The thing is that BIG BROTHER that we feared in the 60s-70s isn't the Government, it is the Corporate World. Democracy somehow has been twisted to have us believe that is what our fore-fathers revolted for. Democracy is an out take of Corporate control of this country & those we has invaded over the years. Since about 1917 when when Germany became democratic.
I shouldn't get into these discussions. Few really see what I see. This is my last post on this subject.
Something like: "Don't bother voting, it doesn't matter anyway."
Or: "A guise we use to make citizens feel like they have the power to elect."