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are we in a recession?

Discussion in 'Uncategorized Threads' started by smsnyder, Oct 13, 2007.

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  1. smsnyder

    smsnyder Well-Known Member

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    i am in the car business and see todays average credit scores and its terrible. i also look at income and what people make, its low. i also look at other business such as high end gun sales etc. i see they are way off. i asked my friend who owns a motorcycle and quad business for 50 years and his sales are way down. i hear they are going to drop the interst rate again. What the hecks going on. Maybe ,its just the pittsburgh area.
     
  2. smartass

    smartass TS Member

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    Let's just raise the minimum wage to $100 per hour and everybody will be happy. The solution to high real estate prices is simple- just don't buy a house.
     
  3. smsnyder

    smsnyder Well-Known Member

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    what does real estate prices have to do with it? thanks
     
  4. smsnyder

    smsnyder Well-Known Member

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    my repo rate is thorough the roof. 60 a week. at the present time. these banks are losing there butts.
     
  5. Big Heap

    Big Heap TS Member

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    From the New York Times this week.

    Dentists’ incomes have grown faster than that of the typical American and the incomes of medical doctors. Formerly poor relations to physicians, American dentists in general practice made an average salary of $185,000 in 2004, the most recent data available. That figure is similar to what non-specialist doctors make, but dentists work far fewer hours. Dental surgeons and orthodontists average more than $300,000 annually.

    “Dentists make more than doctors,” said Morris M. Kleiner, a University of Minnesota economist. “If I had a kid going into the sciences, I’d tell them to become a dentist.”

    Not everybody and every area of the country is in trouble. Look at the stock market and the unemployment rate and you'll see that the majority of Americans are doing well. Hillary, with the help of the media, will try to convince the eletorate otherwise.
     
  6. smsnyder

    smsnyder Well-Known Member

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    if you were to choose a new business today what would you be in?
     
  7. smartass

    smartass TS Member

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    I'd be a fisherman.
     
  8. BMC

    BMC Member

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    In my line of work it is getting bad quickly. Some competitors have recently said they have never seen it this bad. My company seems to be holding on by a thread and honestly I worry that I won't have a job by the end of this year.
     
  9. smsnyder

    smsnyder Well-Known Member

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    bmc what do you do?
     
  10. smsnyder

    smsnyder Well-Known Member

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    i think the average rent today is around $750.00 a month. that buys a $80,000 house at current rates.
     
  11. Big Heap

    Big Heap TS Member

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    Import something you understand from China.

    Volkswagon, back in the 50's, was considered a joke by the Chevy and Ford dealers. If WalMart can get rich with Chinese stuff, why not car dealers?
     
  12. smsnyder

    smsnyder Well-Known Member

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    big heap there is more imports cars and trucks comming in soon Mahindria from India is a year away.the franchise is going for $125,000 now and rising.
     
  13. Big Heap

    Big Heap TS Member

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    Great! Get a dealership! Someone in your area will get rich retailing these products.
     
  14. Beancounter

    Beancounter TS Member

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    Let's see, the market is over 14,000. Jobless numbers are down. Consumer confidence numbers look OK. Interest rates are very low. What are you talking about? could it be that the car industry has given out too much money to people who cannot possibly pay it back? The mistakes of the lending industry do not mean we are in recession.
     
  15. hubcap

    hubcap TS Member

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    Actually the Feds don't directly control the value of the dollar on the world market.

    The reality of the dollar being lowered in value in realation to foreign currencies is that our goods and services now become more lucrative to foreigners, which means they will buy more products produced by American workers.

    The downside of the lower dollar is that imported goods from foreign countries will now cost the American consumer more.

    Econ 101

    Hubcap
     
  16. smsnyder

    smsnyder Well-Known Member

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    big heap what's bringing these companies from china and india etc. into the U.S Is it there labor rates are so much lower leaving higher profits?
     
  17. smsnyder

    smsnyder Well-Known Member

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    have gun, what do you mean by the car industry giving out to much money? are you speaking about car loans? since january 07. we have had 2340 customers in our store wanting to buy a car. 75% have credit scores under 500. All sub-prime customers paying 18% to 21% interest if financed and if they keep paying. Only in america can you charge these stupid rates for people who can't afford the car in the first place. The housing industry did the same thing with the adjustable rates.
     
  18. gbatch

    gbatch TS Member

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    The generally accepted definition of a recession is a decline in the Gross Domestic Product (GDP), or negative real economic growth, for two or more successive quarters of a year.

    Which 2 quarters in fiscal 2007 are you thinking economic activity declined?

    I am concerned that a lot of folks look at the economy as being the things or the company or the city etc that they are most familiar with. That and the old "I'm doing OK, but it's my neighbor I worry about" syndrome. The US economy is an amazingly adaptable economic engine. The deficit is down, the Dow is up, interest rates are about where they need to be, people who bought things (including houses) that they shouldn't have are going to suffer because they got caught up in things.

    I don't see a recession. Now, if Hillary is elected and she has a Dem Senate and House, they could tank things very quickly, IMO.

    Gene Batchelar
    Wheaton, IL
     
  19. stokinpls

    stokinpls Well-Known Member

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    No. GDP will run in the 2.2-2.7 range through 2008. After January '08, we'll just have to believe the media as to what's really going on in the good ol' USA..
     
  20. smartass

    smartass TS Member

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    Gene, please don't interfere with this pitty party. We like to cry into our beer about how bad the world is treating us. It's just do damned unfair, sniffle, sniffle, sniffle. Boo hoo hoo- woe is me.
     
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