We need to start getting concerned.
 

http://www.spiegel.de/international/...7317%2C00.html

I felt physicaly ill after i read it. Its gonna be bad and I think its gonna happen quick.

Re: We need to start getting concerned.
 

thats crazy :3

Re: We need to start getting concerned.
 

everything will be fine after our $600 checks get here ::)

Re: We need to start getting concerned.
 

Isnt that just basicly a loan on next years ----? like if you are supposed to get 700 back total for next year you are only gonna get 100 of it cause they already gave you 500. thought i had heard that somewhere.

Re: We need to start getting concerned.
 

thats it, im moving to canada

Re: We need to start getting concerned.
 

No.

Re: We need to start getting concerned.
 

oh ok.

Re: We need to start getting concerned.
 

Better here but not much, we will feel the impact of the US fuckups as usual.

Re: We need to start getting concerned.
 

i haden't planed on heading up north until the war broke out but i agree with you
can you say "Oh canada..... (thats all i know of their national anthem)

Re: We need to start getting concerned.
 

It's O Canada, and we wouldn't take you anyway.

Re: We need to start getting concerned.
 

Hahah. Go to europe if you want a decent economy.

I'll stick it out here. Not like life is oh so hard compared to other countries, it's just not as easy as you're used to.

Re: We need to start getting concerned.
 

you guys are clowns.

please move now. i'll pay for a one way plane ticket if you sign a paper that says you will never come back

Re: We need to start getting concerned.
 

Time to invest in illegal activities

Re: We need to start getting concerned.
 

the next super power will be china

Re: We need to start getting concerned.
 

I'd rather live in poverty and have the rights that i do as a u.s. citizen.

Re: We need to start getting concerned.
 

in my mind they have been ahead of us for a while..
its not too hard...

Long Term Stategy > Short Term Strategy

What do you think we pick?

All we think about is Quarterly profits (to please stock holders), not long term goals to be successful.

Re: We need to start getting concerned.
 

What a fear-mongering piece of crap. YES we're in a recession. YES, it will get worse before it gets better.

http://bigpicture.typepad.com/commen...on_stories.png

2007 & 2008 would definitely spike... it's an economic cycle. Read a book.

Re: We need to start getting concerned.
 

---- pisses me off, EVERY SINGLE DAY for the past few weeks the national news has a story that involves our "crumbling economy"

Seriously, shut the ---- up. I don't care. Does that make me ignorant? Maybe. I just have to focus on graduating college, I don't give a ---- what some newsanchor wants to say to try and scare people.

Re: We need to start getting concerned.
 

Seriously. I'm not trying to be ignorant on the subject, but I'm not going to put on foil caps either.

Fact is, there isn't ---- you can do about it other than keep your own finances straight and go with the flow. No sense in being stressed about something you can't change. Deal with it, and shut the ---- up.

I hate watching the news because of all the "ITS THE END OF THE WORLD!!11" garbage they put on it. I read the news online so I can filter out what's worth knowing about.

Re: We need to start getting concerned.
 

Theres three things that put us here:

People flipping houses and making excessive profits and driving up values more than they should.I understand a 100% increase in 10 years but locally they tried 400% and fucked everything up.A 100k 1500 sq foot shithole is still a shithole 10 years later that will cost you 120k to build.People are stupid when they buy ---- thats not worth the propery or building materials.

People using there credit cards excessively and once thier house payment goes up they cant pay.

Oil prices.Lets drill our own ---- until we all drive electric cars for daily drivers.

Re: We need to start getting concerned.
 

we are NOT in a recession

Re: We need to start getting concerned.
 

I can honestly say the industry I work in is thriving.

Re: We need to start getting concerned.
 

My job is doing good and my pay hasnt been affected(comission on parts sales).I think the only people losing jobs are in the construction industry.I think problems in the economy is more with where you live.Some places are doing fine others are shitty.

Re: We need to start getting concerned.
 

wether we're in a recession or not doesn't have to do with employment, even though we are still at full employment.

a recession is two consecutive quarters of negative growth.

last quarter was +.9% and the quarter before i believe was +4.7%

the last recession we had was during bill clinton's last two years

Re: We need to start getting concerned.
 

I dunno about the property value comment.

The reason for that is simple supply and demand, property value always goes up. It goes up because people are willing to pay the increasing prices, not because that's what people "feel" it should be worth. When you live in highly populated areas like the west coast, prices are going to seem ridiculous because there's a shitton of people in the area compared to the amount of property, which isn't going to increase...so only the prices of it can.

When you live in a less-populated area, like here in Alabama, they aren't going to drive as high as other places. Plenty of land here. Hell, I'm in the process of buying a brand new 2600sq ft, 2 story, 2 car garaged home for $134k. If you look at the west coast, you'll pay many times that for the same thing.

Re: We need to start getting concerned.
 

Hey i don't claim to be a know all source of ----. If this ---- is biased then point it out but it does make sense if we keep going towards more credit how the ---- is anything suppose to be worth ---- in the long run.

All those trends that say this has happened before did they have all sorts of ---- complicating matters like the low value of a dollar? point of the article also says to me that we have run out of slack because of all those oterh times and we have done things to allow our growth since then. Now we dont have ---- to back up that dollar but credit. Hey if im wrong and hackin this ---- all up then explain, this is just how im understanding this article. recession or not the math looks wrong to me.

Re: We need to start getting concerned.
 

It will turn around. It always does. ::)

The people with money AND brains are buying as much real estate and gold as they can right now because it WILL go back up and it WILL happen again. No use even listening to this crap because it's pointless to worry about it. The motor in my car will eventually blow up. Should I stress the ---- out about it everytime I drive it or should I enjoy it while it's running good? :1
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Re: We need to start getting concerned.
 

Nobody is saying you're wrong. It's evident the dollar's value is constantly going down.

All we're saying is not to worry about it. Not ---- you can do. Gov't will (hopefully) figure it out.

Re: We need to start getting concerned.
 

They will be a garbage super power like Russia was back in the day. They just dump everything into the gov't meanwhile the average citizen doesn't have a radio.

Re: We need to start getting concerned.
 

The reason people keep talking about the economy is they want it to trickle down to the people that are currently living very close to pay check to pay check. The housing bubble bursting put a bunch of industries in a really tough spot, on top of that crude oil being so expensive, and the fact that sub prime mortgages were sold on the public market all lead to a high chance of a future recession. The price of flour has increased 5x in only a month. People are having difficulty affording groceries because the price of food is increasing dramatically. There are a lot of things that people are starting to notice and get worried about.

Will it be catastrophe where everyone is going to fall on hard times? Most likely not. Will people be spending their money more carefully over the next year? Absolutely. There are obviously going to be acceptions in both cases, but on average this is the way things are for now.

Josher, housing prices don't always go up. You are about 12-18 months behind in the news. http://docs.google.com/TeamPresent?d...uth=true&pli=1

Boost, this is not the time to buy real estate as people are trying not to move as moving adds a fear of the unknown. Buying real estate now with no price stability and a shakey market is unwise in general. You can buy real estate and flip it for a profit, but overall, it isn't a safe investment.

Re: We need to start getting concerned.
 

You're ------- hi. With house prices down, interest rates down, and the market FLOODED with MOTIVATED sellers, it's absolutey the BEST time to buy. Ask anybody who knows real estate. You buy at times like this when the market is ---- and sellers are willing to drops prices tens of thousands of dollars just to sell their house. I'm not talking about buying a house to relocate to another state.

If you wait until the market is steady, prices will go up and then you pay more. Why the ---- would you want to buy when the market ISN'T shakey? A flooded, shakey market=good deals and sellers willing to bend over backwards to seal a deal.
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Re: We need to start getting concerned.
 

Actually China has a gigantic middle class that is starting to spend a lot more on recreation and travel. The trouble has more to do with the subprime mortgages being issued to deadbeats with no credit or money mangement skills. Then bam the interest rates go up and they are already to their eyeballs in debt and can't pay ----. So they default, go bankrupt and the investment firms and pension funds are left holding the bag. That is why Bear Stearns and Citi Financial are in so much trouble. This goes much farther than the construction industry. Something is going to have to change with the US governments spending, the debt is inconceivable and they just keep racking up more. Eventually it will crash around their ears.

Re: We need to start getting concerned.
 

There is a lot of real estate to be purchased at bargain prices right now from the banks. I don't see the issue with buying some if you can afford to hold it.

Re: We need to start getting concerned.
 

Agree. Buy while prices are lower and hold onto it. If I ever get money to invest it will probably go in gold until I get enough to start investing in land.

China will suffer if we go into a recession. Who do you think buys 99% of their garbage.

Re: We need to start getting concerned.
 

Um, that isn't how it works. Sounds like you've been speaking to too many people selling real estate. The fact of the matter is, housing prices were grossly over valued and the rate they were going up became ridiculous due to sub prime mortgages. Now that the bubble has burst, housing values are dropping, but are no where near what they should actually be valued at. The reason why sellers are motivated is simple, they know in 6 months their house will most likely depreciate in value. So they can sell it now and take a 3% hit or wait and most likely take a much larger hit.

If you are looking to buy and sell in less than 3 months, this doesn't apply, but if you are looking to buy and hold, prices are no where near where they will bottom out. Wait a year and I bet houses selling right now will be valued dramatically lower. You aren't supposed to buy on a downward drop with no end in sight. You are supposed to buy right at the lowest point or when you can see the lowest point. Buying a house for $300k when it will drop to $200k in 2 years and then take 10 years to get back up to $300k is a bad investment. This is the real estate environment right now.

Obviously I'm just talking about investing in real estate and not buying a home. Buying a home, you do your best to follow the same rules, but people still need a place to live and if you have to move, you hope that things will even out sooner than later. Right now, most people are in the position where if they are selling, they want to sell now and move hopefully into an area with less price fluctuation. If people just kind of want to move, but are worried about the stability of prices in their area(this applies to a large portion of the US), they are holding onto their home and waiting things out. Again, it is stupid to pay a mortgage on a $300k home when it is appraised at $200k. Fantastic way to throw away a large sum of money.

Re: We need to start getting concerned.
 

Every last one of the problems we're facing was and is created by the government. End of story.

Re: We need to start getting concerned.
 

No. Sub prime mortgages was a free market idea that failed and ended up ------- people. The ripple effect from it is and will be felt from it for a while. There are issues caused by the government, but not everything.

Re: We need to start getting concerned.
 

Haha, report back to me in a few years and I'll post an appraisal fro my home that is about 25% higher than what I bought it for. You, I, Joe, Jack, Jill, none of us can say for sure what the market is going to do, but if history is ANY indication, it WILL go back up and house prices WILL sky rocket once again. They always do and they aren't about to stop doing that. It's a BUYERS market. They don't call it that for no reason. Watch and learn. :6
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Re: We need to start getting concerned.
 

There are exceptions to every rule but this is the general feel of the housing market. Because your house increases 25% while the rest of the housing market is 7% down doesn't mean you were the rule, rather you were the exception.

Re: We need to start getting concerned.
 

Research the history of the housing market, or even the economy in general. From the beginning of time, it has always done this. It has it's ups and downs. Buy low, sell high. People with money buy low while the people without money sell low. It's what makes the world go round. :6
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