least anyone should think I might now agree with DanA, on politics, let me state as clearly as possible.
the LAST thing we need during this time is a committed socialist at the helm. voting for Obama is a vote to drive a stake thru the heart of the US Economy.
Sounds like he will be FDR of this generation ... Ferd.
even I am on the verge of panic..... not quite but almost.
we have had bank failures before..... over a thousand in 1989.
things are certainly not real good right now that is for sure.
That is true, but look at the possible exposure to the FDIC and there is no way they can stand behind all the deposits--if the domino effect takes place.
That is why I posted this...I read this kind of stuff everyday. I hope that a few people can bind together in prayer for our country and for this coming election. We are need of a miracle. Wilkerson wrote a few years ago that we could see housing crash up to 70% of its value. Some areas of the country are at 30% and continuing to fall.
There has been negative HPA before---but never on a national level. Since records have been kept the nation has enjoyed home price appreciation. Remember the addage--as goes housing so goes the economy. Economists I have read write that there has never been a recovery without housing. The housing market must turn around--many people think that the economy is in a minor bump, judging by GDP and the meager groweth, but we could be on the opening wave of a major downturn and many quarters of negative groweth. The worst housing market in modern histroy=the worst economy in history, fed and Paulson cannot keep it propped up indefinately.
We need to watch the FOMB action this week and the target funds rate. If they lower to 1.75% the real rate is already at a -negative. Another .25 in the negative will definately mean higher fuel, groceries, clothes etc. Another squeeze on the pocketbooks.
That is true, but look at the possible exposure to the FDIC and there is no way they can stand behind all the deposits--if the domino effect takes place.
That is why I posted this...I read this kind of stuff everyday. I hope that a few people can bind together in prayer for our country and for this coming election. We are need of a miracle. Wilkerson wrote a few years ago that we could see housing crash up to 70% of its value. Some areas of the country are at 30% and continuing to fall.
There has been negative HPA before---but never on a national level. Since records have been kept the nation has enjoyed home price appreciation. Remember the addage--as goes housing so goes the economy. Economists I have read write that there has never been a recovery without housing. The housing market must turn around--many people think that the economy is in a minor bump, judging by GDP and the meager groweth, but we could be on the opening wave of a major downturn and many quarters of negative groweth. The worst housing market in modern histroy=the worst economy in history, fed and Paulson cannot keep it propped up indefinately.
We need to watch the FOMB action this week and the target funds rate. If they lower to 1.75% the real rate is already at a -negative. Another .25 in the negative will definately mean higher fuel, groceries, clothes etc. Another squeeze on the pocketbooks.
clearly there is issues. big issues. but disaster that some are suggesting this is.... Obama likening it to the great depression is at the very least outrageous.
unemployment
then:50%
now 6%
Home foreclosures:
then 50%
now 2.75%
Business profets:
then: for 4 years no one made money
now: more than 50% of businesses posted profets in the last quarter.
There are serious issues that need addressing (like why Fannie May and Freddie Mac are getting a free pass)... but relitive stability in this economy remains at least visable.
__________________ If I do something stupid blame the Lortab!
This is now eerily looking like the beginning of the Great Depression ...
Quote:
Originally Posted by Ferd
OK, someone go find PP and take a defibraltor....
even I am on the verge of panic..... not quite but almost.
we have had bank failures before..... over a thousand in 1989.
things are certainly not real good right now that is for sure.
Hey boys, you're gonna think I am looney, but my opinion about all of this was based on a "feeling." I know that sounds corny, but I really have felt in my spirit man that something economically catastrophic was about to occur.
Plus, before my 92 year old grandma died last year, she warned all of us that this was coming. She said the overall spiritual atmosphere was the same as that of the Great Depression.
Hey boys, you're gonna think I am looney, but my opinion about all of this was based on a "feeling." I know that sounds corny, but I really have felt in my spirit man that something economically catastrophic was about to occur.
Plus, before my 92 year old grandma died last year, she warned all of us that this was coming. She said the overall spiritual atmosphere was the same as that of the Great Depression.
And now back to your regularly scheduled mocking.
i aint mocking you.... now....
im not with you.... yet... and I am still looking to balance the bad news with context.
Lets all take a deep breath and watch Kudlow and Company in 4 minutes to get the skinny, shall we?
PS, I certainly aint gonna challenge your dear grandmother on the spiritual status of the country, then and now. there very well might be a connection.
__________________ If I do something stupid blame the Lortab!
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