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View Poll Results: Recession? | |||
No recession - just isolated parts of our economy | 11 | 6.71% | |
Recession - bottomed out, going to get better soon | 12 | 7.32% | |
Recession - going to get worse before better | 85 | 51.83% | |
Recession - going to get real bad | 56 | 34.15% | |
Voters: 164. You may not vote on this poll |
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03-21-2008, 11:18 AM | #101 | |
Coordinator
Join Date: Oct 2000
Location: Big Ten Country
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Quote:
Hope the formatting works. Since we're about to buy soon, I've been looking at this web site that tracks home prices in my area. It's going up, but the February prices are 94.7% of Feb 07, and the March prices are 93.3% of March 08, so the increase is only due to seasonality. Last edited by Passacaglia : 03-21-2008 at 11:20 AM. |
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03-24-2008, 12:56 AM | #102 | |
Grizzled Veteran
Join Date: Oct 2000
Location: Edinburg,TX
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boomshakalaka!
hxxp://www.qctimes.com/articles/2008/03/19/news/iowa/doc47e03e9ea03bd427238845.txt?sPos=3 Quote:
Ok, so not a huge thing really, I just wanted to say boomshakalaka. Why not a huge thing? I don't see a 'trucker strike' doing much, IF it gets off the ground. Let me say that I have heard truck off a trucker strike at least once a year for the last 9 years. Nothing ever happened. Why? Because most drivers drive for a company, and unless it is a small company they are not going to back such a strike. That means most trucks will keep rolling. I wish them luck though. The crappy part is the talk was always because of what most view as crap pay for a job that never lets you home. Now it is just to survive the fuel prices.
__________________
You Stole Fizzy Lifting drinks! You bumped into the ceiling which now has to be washed and steralized, so you get NOTHING! You lose! |
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03-24-2008, 06:34 AM | #103 | |
Head Coach
Join Date: Oct 2005
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I agree, I just don't think a trucker strike from independants will do much of anything except make traffic flow easier in big cities! That said, trucker strikes seem to have an effect in France?
Also, JP Morgan may raise the ante to $10/share for Bear Stearns. http://www.foxbusiness.com/markets/a..._530338_2.html Quote:
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03-24-2008, 06:35 AM | #104 |
Head Coach
Join Date: Oct 2005
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Mon 3/24, futures looking up.
Last week was pretty good for the markets and somewhat lent credibility to the "Contra Flasch" theorem. Flasch, what say you this week? |
03-24-2008, 07:58 AM | #105 |
Coordinator
Join Date: May 2002
Location: Jacksonville, FL
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Ill post it in the financials thread
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Jacksonville-florida-homes-for-sale Putting a New Spin on Real Estate! ----------------------------------------------------------- Commissioner of the USFL USFL |
03-24-2008, 06:25 PM | #106 |
Coordinator
Join Date: Apr 2005
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http://www.msnbc.msn.com/id/23781864/
Gas prices rising quickly. Credit getting tight. A falling dollar. How long will this last? |
03-24-2008, 08:43 PM | #107 |
College Starter
Join Date: Nov 2000
Location: South Florida
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I think we're seeing the bottom now. I think we continue to see some volatility... some major ups and downs for the rest of the year, and things start improving late this year or early next year.
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03-25-2008, 09:53 PM | #108 | |
Head Coach
Join Date: Oct 2005
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Quote:
Same old story. Some say yes, some say no. http://www.msnbc.msn.com/id/23796366/ Per my assumption in above threads, the stock market is a leading indicator and if it stablizes and/or trends upwards then we may be out of the woods. --- Flasch predicted volatility and trending higher this week and therefore the contra-flasch theorem predicts a lower market this week. --- Interestingly, I've lost more % in my 401k than the Dow has dropped. Dow (high of 14,198 - current 12,532) / 14,198 = 11.73% loss My 401k has lost approx 19.1%. WTF? Must be from my overseas funds. |
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03-25-2008, 09:54 PM | #109 |
Coordinator
Join Date: May 2002
Location: Jacksonville, FL
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today is a nice start for the contra-flasch theorem. Spot on for today with very little volatility and slightly down.
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Jacksonville-florida-homes-for-sale Putting a New Spin on Real Estate! ----------------------------------------------------------- Commissioner of the USFL USFL Last edited by Flasch186 : 03-25-2008 at 09:55 PM. |
03-25-2008, 10:09 PM | #110 | |
SI Games
Join Date: Oct 2000
Location: Melbourne, FL
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Quote:
If its anything like my UK pension scheme than thats near 'standard' they always seem to underperform their base a little ... I'd also say that the fact that one of the 'staples' (ie. financials) has been hard hit will have played into it more than the overseas funds section. |
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04-18-2008, 10:22 PM | #111 |
Head Coach
Join Date: Oct 2005
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Okay! Looks like the market is stabilizing and trending upwards in the past 3 weeks. Even with some bad earnings from Financials, the market has not been too spooked.
Assuming markets is a leading indicator, I am pretty optimistic about our economy and the length/breadth of a recession. |
04-19-2008, 09:30 AM | #112 | |
SI Games
Join Date: Oct 2000
Location: Melbourne, FL
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Quote:
Don't presume this on the strength of the market - the market is happily misleading itself about the state of things because of the weak dollar presently imho. If you factor out the influence of the dollar on the recent profits then you'll find that companies are performing a lot worse than expected in general (so obviously at present invest in companies which do heavy trade abroad - especially in Europe itself). That being said my 'weather vane' for the American economy is my father in law who works in retail and he thinks its picking up slightly at present .. time will tell. |
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05-06-2008, 10:19 PM | #113 |
Head Coach
Join Date: Oct 2005
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Okay, I know this may be an unpopular statement, but I am calling it. The market has hit bottom and it is rebounding. I've read bottom is hit approx 6 months into a recession and as the market is a leading indicator, I am predicting we are on the uptick.
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05-06-2008, 10:33 PM | #114 | |
Death Herald
Join Date: Nov 2000
Location: Le stelle la notte sono grandi e luminose nel cuore profondo del Texas
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Quote:
I'll go with you that the market is a leading indicator, but only when the dollar is stable. With the dollar still dropping, there is a thought out there that foreigners are buying up bargains which are driving DOW30 stocks upwards. So although the market is improving, the capitalization relative to foreign currencies is actually dropping.
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Thinkin' of a master plan 'Cuz ain't nuthin' but sweat inside my hand So I dig into my pocket, all my money is spent So I dig deeper but still comin' up with lint |
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05-06-2008, 10:38 PM | #115 |
Coordinator
Join Date: Dec 2003
Location: Sydney, Australia
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I can't believe the Aussie dollar is nearly equal with the US. Doesn't seem like that long ago to me when it was less than 0.50c. Great time to buy online, and I've been doing my best to keep the US online companies in business, at least!
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Politics, n. Strife of interests masquerading as a contest of principles. --Ambrose Bierce |
05-06-2008, 10:39 PM | #116 |
Head Coach
Join Date: Oct 2005
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Oh, one more thing. If at all possible, please spend your rebate checks on products instead of paying off debt!
If only the rebate checks could have been timed for Nov just before the Thanksgiving sales. |
05-06-2008, 10:52 PM | #117 | |
Death Herald
Join Date: Nov 2000
Location: Le stelle la notte sono grandi e luminose nel cuore profondo del Texas
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Quote:
Fixed that for you. No sense in increasing the trade deficit even further and sending the money offshore.
__________________
Thinkin' of a master plan 'Cuz ain't nuthin' but sweat inside my hand So I dig into my pocket, all my money is spent So I dig deeper but still comin' up with lint |
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05-06-2008, 11:01 PM | #118 |
Coordinator
Join Date: Apr 2005
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Good luck in finding those cartman.
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05-06-2008, 11:03 PM | #119 |
Coordinator
Join Date: Apr 2005
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Do, and when, do you guys see the dollar start to turn it around?
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05-06-2008, 11:06 PM | #120 |
Head Coach
Join Date: Oct 2000
Location: Colorado
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05-06-2008, 11:08 PM | #121 |
Coordinator
Join Date: Apr 2005
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05-07-2008, 01:18 AM | #122 | |
Grizzled Veteran
Join Date: Oct 2000
Location: Edinburg,TX
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Quote:
If someone wants to give me an extra $1200 then I will spend my rebate check on crap. Otherwise I will spend the money as normal money, and buy crap when possible. Gas makes that hard when you have to fill up the tank so much.
__________________
You Stole Fizzy Lifting drinks! You bumped into the ceiling which now has to be washed and steralized, so you get NOTHING! You lose! |
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05-07-2008, 01:33 AM | #123 | |
Head Coach
Join Date: Jul 2001
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Quote:
If the government wants people to spend their surplus money on products instead of paying off debt they need to issue debit cards or something else that at least attempts to encourage, if not require, purchase of goods in retail outlets. The one time your average American thinks about saving money or paying off debt instead of spend spend spend is during times of economic crisis. Handing out checks to your average American during economic crisis and then being surprised when they pay an extra bill or put it in savings is ridiculous of our government. I've got one credit card left and then I'm 100% debt free. My surplus check is going towards that. |
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05-07-2008, 01:39 AM | #124 | |
College Benchwarmer
Join Date: Apr 2008
Location: Sterling Heights, Mi
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Quote:
I just filled two 14 gallon tanks for about $50 a piece. I drive two cars that get pretty good mileage, I cannot imagine what the SUV drivers are paying right now. |
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05-07-2008, 01:41 AM | #125 | |
College Benchwarmer
Join Date: Apr 2008
Location: Sterling Heights, Mi
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Quote:
My check is going towards bills and some into savings. I think the checks are a good idea in general, just because the less debt people have, the better the ecomomy should rebound when this is all over. If the government thinks the checks will be spend on goodies, I dont think they did enough research. |
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05-07-2008, 04:47 AM | #126 | |
SI Games
Join Date: Oct 2000
Location: Melbourne, FL
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Quote:
I have to admit I'm somewhat bemused when I hear commentators say that they expect the dollar to strengthen in the near term ... I'd have thought that flooding an economy with 'free cash' via. the rebates is hardly the way to either dampen inflation or strengthen the dollar .... Then again I can't understand why candidates believe that having a fuel tax holiday makes economic sense either (feel free to try and explain this if you know why - I'd be interested to hear why its anything but a short-term measure destinated to grab votes but further destabalise the economy in the long term). |
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05-07-2008, 04:52 AM | #127 | |
SI Games
Join Date: Oct 2000
Location: Melbourne, FL
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Quote:
Its about $70 to fill up our Aspen at the moment, that being said I'm back in England at the moment and its over £5 ($10) a gallon here these days ... http://www.telegraph.co.uk/news/1915...-a-gallon.html .... do also realise that the UK gallon is a somewhat different size to that in America (1 US gallon = 0.83267384 UK Gallon - so real price of fuel is around $8/US Gallon over here) ...... also do bear in mind that in general cars in England are a lot more fuel efficient than in America ... |
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05-07-2008, 05:51 AM | #128 |
Coordinator
Join Date: May 2002
Location: Jacksonville, FL
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IMO the rebate checks makes the recession into a W but doesnt end it. I'll be spending mine on bills and gas BUT.....
I TRULY believe that people spend the $ more than once. They have spent it in their heads long before the check even arrives. They buy stuff in the month prior and rationalize it with the impending arrival of the check. Then when the check arrives they'll spend it again (or stats say 40% of it) and then put it in an account that either pays for bills or necessities (thus spending it again).
__________________
Jacksonville-florida-homes-for-sale Putting a New Spin on Real Estate! ----------------------------------------------------------- Commissioner of the USFL USFL |
05-07-2008, 11:53 AM | #129 | |
Coordinator
Join Date: Apr 2005
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Quote:
What about the home buyers? I mean, they are buying homes worth more then they can afford (with no down-payments, ect.). |
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05-07-2008, 12:01 PM | #130 | |
Coordinator
Join Date: May 2002
Location: Jacksonville, FL
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Quote:
Loans are tough to come by right now and AFAIK 100% financing has all but disappeared.
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Jacksonville-florida-homes-for-sale Putting a New Spin on Real Estate! ----------------------------------------------------------- Commissioner of the USFL USFL Last edited by Flasch186 : 05-07-2008 at 12:01 PM. |
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05-07-2008, 12:07 PM | #131 | |
Pro Starter
Join Date: Oct 2000
Location: Cary, NC
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Quote:
Welcome to American politics!
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-- Greg -- Author of various FOF utilities |
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05-07-2008, 01:35 PM | #132 |
Coordinator
Join Date: Apr 2005
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05-15-2008, 09:41 AM | #133 |
Death Herald
Join Date: Nov 2000
Location: Le stelle la notte sono grandi e luminose nel cuore profondo del Texas
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Here's something supporting my point that due to the low dollar, foreign purchases of US instruments is on a sharp rise:
http://www.bloomberg.com/apps/news?p...&refer=economy
__________________
Thinkin' of a master plan 'Cuz ain't nuthin' but sweat inside my hand So I dig into my pocket, all my money is spent So I dig deeper but still comin' up with lint |
05-15-2008, 10:11 AM | #134 | |||
Grizzled Veteran
Join Date: Oct 2000
Location: Edinburg,TX
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Quote:
I think there are plenty of SUV drivers who really don't give a crap. They may say they do, but though don't act like they do. I drove from where I live up here to Waco yesterday, 7 hours. I will do a couple MPH over the speed limit and get some of my best gas mileage with the cruise control set at 70-72. Yet I see nothing but big SUVs flying by me doing 80+ MPH. I know they are decreasing there MPG at the speed, but they clearly feel getting to their off ramp 5 miles down the road 30 seconds earlier just to sit at a red light is better for them. Quote:
Home buyers are to blame because there are some dumb ass people out there. We (wife and I) deal in almost nothing but repos, and as I go around to the usual neighborhoods for repos down here to take pictures I look at the person in a house worth $65,000 and they have their two or threes nice cars with 20" wheels and custom paint. I take a picture of their house knowing it is about to be repo'd, then go home and see they haven't even paid their property tax for the last couple years. They are idiots spending money on the wrong crap. Hell, I have had my Chrysler 300 for a year now and have not even had extra tinit put on the windows. I see 300's at some of these houses with the custom grills, add on chrome, wheels, and new paint. That is one reason I don't have a problem making my house payment on a house worth twice as much as theirs though. Lenders are also to blame. Some local mortgage brokers have in the recent past made up fake documents just to get people approved for loans they should not be getting. Quote:
We got 100% financing 4 years ago thankfully. You are correct is far as I am concerned about now though, as we haven't seen anyone get it for a while. The best you can do is get a grant to cover your down payment, which is not open for everyone.....
__________________
You Stole Fizzy Lifting drinks! You bumped into the ceiling which now has to be washed and steralized, so you get NOTHING! You lose! |
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05-15-2008, 10:29 AM | #135 | |
Head Coach
Join Date: Oct 2000
Location: NYC
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Quote:
Is this really debatable? All of our assets (property and companies especially) are being bought up cheaply by foreign investors. |
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05-15-2008, 12:40 PM | #136 | |
Coordinator
Join Date: Apr 2005
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Quote:
The look rich on credit phase seems to be over. Now you actually have to earn your possessions, it seems. I do agree, every one shares the blame. I'm just not too keen on the government using taxpayer dollars to support those who did. Last edited by Galaxy : 05-15-2008 at 12:42 PM. |
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05-15-2008, 06:30 PM | #137 | |
College Starter
Join Date: Dec 2006
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Quote:
A little late on the response, but yeah, I know there are plenty of morons out there who bought well above tyheir means...but they are just consumers who tend to take what they can get, and I dont expect them to have the same level of accountability as a financial institution. I expect financial institutions, who enjoy the benefits of borrowing at the fed rate, to be a little more responsible than flippant knuckleheads who make $30k/yr, and want to purchase $800k houses with <5% down. But I do agree in one sense...those borrowers do piss me off as well. |
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05-15-2008, 06:59 PM | #138 | |
Coordinator
Join Date: Dec 2003
Location: Sydney, Australia
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Quote:
Yeah I agree. They are idiots for borrowing what they can't afford, but people often need saving from themselves, and that's where the other idiots who lend the money are supposed to look at how much these people earn and realise that this is a terrible idea and shoot them down.
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05-29-2008, 01:58 PM | #139 | |
Head Coach
Join Date: Oct 2005
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1Q 08 at .9% GDP.
Well, I guess the 5 people that voted 'No Recession' were (most probably) right. I'm okay with it, maybe this will start a small rally. http://money.cnn.com/2008/05/29/news...ion=2008052911 Quote:
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05-29-2008, 02:03 PM | #140 |
Coordinator
Join Date: May 2002
Location: Jacksonville, FL
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Like Buffett said, definition be damned, to main street America it "feels" like we're in a recession.
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Jacksonville-florida-homes-for-sale Putting a New Spin on Real Estate! ----------------------------------------------------------- Commissioner of the USFL USFL |
05-29-2008, 03:14 PM | #141 |
Coordinator
Join Date: Apr 2005
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It depends on where oil prices go. If they going up, I don't know how you can avoid a recession.
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05-29-2008, 07:39 PM | #142 |
Hall Of Famer
Join Date: Nov 2002
Location: Newburgh, NY
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Rising energy prices are one of the reasons we're not technically in a recession, not that that gives most people much comfort.
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To love someone is to strive to accept that person exactly the way he or she is, right here and now.. - Mr. Rogers |
05-29-2008, 07:42 PM | #143 |
Head Coach
Join Date: Oct 2000
Location: Colorado
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Still better off than I was 7, 14, 21 years ago, esp. now that I paid off all high-interest debts and both vehicles are paid off as well.
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05-29-2008, 09:28 PM | #144 |
Coordinator
Join Date: Apr 2005
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05-29-2008, 09:34 PM | #145 |
Coordinator
Join Date: May 2002
Location: Jacksonville, FL
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he said technically.
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Jacksonville-florida-homes-for-sale Putting a New Spin on Real Estate! ----------------------------------------------------------- Commissioner of the USFL USFL |
05-29-2008, 09:46 PM | #146 |
Coordinator
Join Date: Apr 2005
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05-30-2008, 01:00 PM | #147 |
Coordinator
Join Date: May 2002
Location: Jacksonville, FL
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This summer will be brutal, IMO, when it comes to the housing market. the Government did not step in in any timely or meaningful manner, as I thought they would, and the bulk of the foreclosures will begin to hit the market in June and continue to climb through the end of the year. How this translates to the broader market, I dont know, other than it will continue to put additional downward pressure on prices. Just my opinion but the call earlier about a bottom may be wrong. Check back in an hour as I could change my mind but this is what Im seeing here and, while not the center of the world, we're kind of in between the apocalypse cities and the cities that have rebounded...kind of in the middle so maybe a decent barometer.
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Jacksonville-florida-homes-for-sale Putting a New Spin on Real Estate! ----------------------------------------------------------- Commissioner of the USFL USFL |
05-30-2008, 06:53 PM | #148 |
Head Coach
Join Date: Oct 2000
Location: Colorado
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You are in Florida, perhaps the worst housing market in the country (according to cnn.com, 5 of the 7 worse housing markets are in Florida). I don't think it is a good indicator for the rest of the country.
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05-30-2008, 07:07 PM | #149 |
Coordinator
Join Date: May 2002
Location: Jacksonville, FL
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NE Florida is not the same as SW or S or C Florida. Not great but not as devastated as those.
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Jacksonville-florida-homes-for-sale Putting a New Spin on Real Estate! ----------------------------------------------------------- Commissioner of the USFL USFL |
05-30-2008, 07:10 PM | #150 |
Head Coach
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Location: Colorado
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