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O/T Where is Our Economy Going?

Discussion in 'Uncategorized Threads' started by stokinpls, Dec 14, 2007.

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  1. stokinpls

    stokinpls Well-Known Member

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    If you want the truth, ask Bob Brinker. The rest is all partisan BS. An AP writer? Geeze. I'd come closer to believing Al Gore.
     
  2. stokinpls

    stokinpls Well-Known Member

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    Here's part 2 for ya.
     
  3. hmb

    hmb Well-Known Member

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    Up, up and away. HMB
     
  4. jimx200

    jimx200 Member

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    A friend of mine just got fired from Washington Mutual's mortgage division after working there 12 years. They gave him a one month severence...thats it. Maybe due to WaMu's one day stock drop of 12%! Anything connected with real estate is sinking. Another friend owns a Ford dealership and they are having a very difficult time getting people approved due to many having credit problems. Where my gf works, they had approximately 35 applications for a career counselor position (trade school) and many had masters degrees and no jobs. Real estate prices in N. California are falling like a rock...I looked at a very nice house in Folsom that was listed for $425. and a "short sale" status (think desperate) between bank and borrower, and my agent said be prepared to own it if you make a offer in the $310-320,000 area. These had sold 2 years ago at the $480,000 to $550,000 level. It's truly getting to be a buyers market. We are in a phony "strong" economy and 2008/09 will be much worse. Decent jobs for the middle class are all but gone...welcome to the new service economy of $10. an hour. I told both of my daughters to keep working on a higher degree, oldest at 24 started her masters program, and youngest at 22 is still plugging away at bachelors degree. My generation (57 here) of getting a good paying job without a degree or technical skills are history.
     
  5. Jeff P

    Jeff P Well-Known Member

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    We're in the stage where everyone who partied like a rockstar is waking up and realizing that someone is holding the check....

    If you spent more than you made in the last 5 years - i.e., you have a balance on your credit cards you don't/can't pay every month, you're going to quickly find out that you're in big trouble. Wages are going to be flatish going forward (I heard only 3% of companies are increasing their bonuses this year), and your chance to grow your salary and get out of your hole is going to be mighty tough to pull off.

    On the other hand, if you've been reasonably prudent and not spent yourself into oblivion keeping up with the Joneses - who were spending themselves into oblivion - then you're going to be OK. There's going to be a buyers market in a lot of things.

    Look for the economy to stay around the flatline - 1.5% growth to flat, maybe down a half percent.

    The mortgage mess is just that - a mess. The write-offs will continue into the first half of the year, people will lose their houses...but largely they shouldn't have been in the house to begin with.

    Look for real wages to stagnate...that's not a bad thing. Someone needs to remind folks that not everyone gets the $35/hr job right out of high school OR college. And just because you show up once in a while doesn't mean you're going to get a 15% raise.

    Look for the stock market to be turbulent in the spring - as the primaries start to sort themselves out, the market hates uncertainty. Once it's relatively clear who'll be president, things will pick up.

    FWIW, and it's worth exactly what you're paying for it...but I do have a masters degree in Economics and am a CPA. So there's a little basis there. I might be wrong, but it's not grammie's delusion ranting.
     
  6. Roger IL

    Roger IL TS Member

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    Where is our economy going?????????.......To China.......Roger
     
  7. Hipshot 3

    Hipshot 3 TS Member

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    Where indeed!.......Its called T-O-I-L-E-T !
     
  8. Bocephas

    Bocephas Well-Known Member

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    The price of gas and other fuel propane etc.
    This is not helping.
    Food prices are going way up,do to high fuel prices and corn being produced into alcohol.

    No jobs that pay a decent wage in my area.
    This is just the start.

    We are headed for a depression.

    Oh yes, some on here are going to say the sky is falling.

    Do to the fact they have made their money, and could give a #ats #ss less about you.

    This will all come to a head.
    Some of these people will be jumping out the windows just like they did in 29.

    Bocephas
     
  9. alpine

    alpine TS Member

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    Oh please. People have been crying "recession" and "depression" for the last several years of exceptional ecominic growth. Just because it has slowed down a bit recently everybody wants to jump on the depression bandwagon.

    If you really want a depression elect a liberal.

    Get a grip.
     
  10. smartass

    smartass TS Member

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    Anybody who can predict the economy with any accuracy would shortly be a billionaire. How many of you expert economists predicting gloom and doom are billionaires?
     
  11. chuckles

    chuckles Member

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    Our USA economy is in the early stages of dying off, we no longer have a working class economy, we are becoming "Haves and Have Nots" a higher college degree will mean very little in the future...all those jobs are already being siphoned off to India where the average Indian dolt is still smarter than our Graduates....

    Look for jobs as auto mechanics , laborers in the Infrastructure maintanence field, Farming, allround general maintanence, Hospital, Medical, Transportation, things that can not be exported to China or India...that is the key...

    Our Economy is fugged and our Government has done it to us along with our greedy Corporate CEO's and our own complacency...the next 2 or 3 years will become very scary...

    regards
     
  12. Bocephas

    Bocephas Well-Known Member

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    Alpin, I have been saying we are headed that way for the last 25 years.
    With all do respect, I don't think it matters who you elect.
    This country is in trouble.

    This country can't keep going the way it is with so many people on WELFARE.
    Someone has to pay tax.
    The way the people in Washington are spending our tax dollars, it looks like a drunkin stupor.

    I am not putting this all on Bush, it's all of them.

    If you spend more money than you have coming in,someday it's going to bite you in the #ss.

    This is just what our government is doing.

    Now if you think everything is kosher, you still believe in the tooth fairy.

    With all do respect.


    Bo
     
  13. smartass

    smartass TS Member

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    Given the well proven fact that most people are always wrong about the economy, I relieved that a recession isn't imminent. I was worried but this thread eased my worries.
     
  14. smartass

    smartass TS Member

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    Tron, do ya mean that the Great Depression is finally over so we can have another one? I'm sure glad to hear that cause I thought is was still with us. !!!
     
  15. Born_to_Shoot!

    Born_to_Shoot! TS Member

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    Ovious Economics:

    Everybody is working except the super lazy.

    Oil went up SO everything else will follow.

    The $Dollar is down SO American Goods and services are cheap in other countries.

    Maybe lead shot will come down if we quit buying lead painted stuff from China.

    The economy tends to surge during the year before a National election.

    Recession has been pushed in the media so long and so thoroughly no one listens anymore.

    When Clinton raised taxes the surging computer industry bailed him out; If a new administration raises taxes that could hurt.

    Using toilet launguage negates comments.

    Lorenzo
     
  16. comp 1

    comp 1 Well-Known Member

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    Personally, I think there's something seriously fu**ked when 2/3rds of the economy is based on SPENDING. The gov't wants you to spend every dime you make and then some,they encourage debt, and then they glorify how many new jobs have been created--what they don't tell you is that almost all those new jobs consist of " you want fries with that?" or other such so called jobs. If you think the housing crunch is bad,just wait til people start defaulting credit card debt on a national scale.Again, thereis something seriously wrong when ceo's of major co.'s rake in millions in salary and bonuses because the rest of us HAVE to buy their products; i.e. oil,gas,electricity,food,health insurance etc. Anti monopoly laws are being broken and no one cares.
     
  17. phirel

    phirel TS Member

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    If you are convinced that a depression is eminent, would it not be wise to position yourself to make a profit from the depression? If Real Estate prices do fall well below the real value of the property, that is an excellent time to buy property and get a nice profit in a few years.

    Pat Ireland
     
  18. Jerbear

    Jerbear TS Member

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    North American Union. It's been signed and is now taking all the workers wages from here and goning to Mexico and Canada.

    Intresting video above on how we were sold out right out from under our noses.

    Jerbear, and I'm not crazy, have been watching this for a long time now.

    Nevermind it's on Ron Pauls site just look at the videos and what the Presidents of the three countries say.
     
  19. Jerbear

    Jerbear TS Member

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    <object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/H65f3q_Lm9U&rel=1"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/H65f3q_Lm9U&rel=1" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>


    Jerbear
     
  20. Jerbear

    Jerbear TS Member

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    <object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/6hiPrsc9g98&rel=1"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/6hiPrsc9g98&rel=1" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>
     
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