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Bowling Green, KY
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Effective immediately, please post here for any comments on the economy. This topic, as happened with Fuel/oil, is covered 24/7 in the media and a large percentage of our members have become saturated with it.
Use this thread for ALL comments on the economy; posting elsewhere in this forum will simply be deleted.
For those of you that are tired of this topic don't forget you can use to blocking feature it won't be visible.
Current posting rules will still apply. We appreciate your cooperation. Thanks.
* This post was
edited 09/29/08 07:40pm by an administrator/moderator *
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mking
Indianland,South Carolina
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Joined: 02/14/2006
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I took a hit today for a little over 10K,but I don't think the taxpayers should bail all this out.And before its over I'm sure I'll lose more,but the outcome will be better for all and not just for the rich.
2006 Dodge Quad-Cab 2500 CTD,4;10 gears,pulling a Forestriver Flaggstaff 831qbss
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8.1 Van
Millstone NJ
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"The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression. "
Bloomberg
FKA PSDExcursion
2002 Chevy Express LS 3500 8.1 155" WB passenger van 3.73 posi (GT4/G80)
41 Ft 2003 Thor Citation 41-ZBSR TT w/ Hensley Arrow
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pickle_pepper_picker
Texas
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Moderator moderating moderator.....
If you think nobody cares, try missing a couple of payments.
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fickman
Fort Worth, Texas
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In my opinion, a large negative market adjustment will be painful. I also think it's necessary. Once it happens, the wise businesses with sound practices will still be operating while the poor decision makers will be done for. . . their assets will be sold to the successes for a fraction of their worth.
Some businesses may come to the brink and survive, but they will have new process and procedure docs to avoid such calamity in the future. . . or they'll be left behind by the others who do.
Will there be a credit crunch and a cash shortage? Perhaps. Don't most of us agree that credit has been too easily available in the last decade? My PO box was littered with offers when I was in college.
Anybody else notice that oil is on its way down? The market adjustment won't simply be for housing - there has been an imbalance and the market it disparately seeking equilibrium now.
This is my take on the situation. . . I'm calling my Congressman to thank him for voting "No" on the bailout. Then I'm tightening my belt (probably a little past due). As a buddy's dad was fond of repeating, "Frugality, with creativity, is not deprivation."
2005 Chevrolet Silverado 2500HD Crew Cab SB LS 6.0L 4x4 4.10
DW, DD (May, 2007), DS (October, 2008), and me
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stickdog
longitude W88.1, latitude N41.6
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I wonder how well the short sellers did today?
9-11 WE WILL NEVER FORGET!
stickdog
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jcapps
Not a senior just a
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Joined: 08/18/2004
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The market won't simply be housing is right. Guess what, every day this goes on companies are closing, for every company that closes people are out of a job.
This situation truly sucks but we need to do this bailout. We also need to make certain the money is all accounted for with oversight and CEO pay and benes kept to a minimum
"The great challenge of adulthood is holding on to your idealism after you lose your innocence."
– Bruce Springsteen
"This ain't the practice round"
- a friend
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Matthew_B
The boonies near Dallas, Oregon
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fickman wrote:Anybody else notice that oil is on its way down? The market adjustment won't simply be for housing - there has been an imbalance and the market it disparately seeking equilibrium now.
Since some of the companies that were betting on high oil are some of those that are in deep trouble, a very real consequence of not doing the bailout will be a collapse of oil prices.
There is a WSJ article about how the shoot up from $90 to $115 happened because a bunch of people bet on Goldman Sachs failing, and shorted oil. When the drop didn't happen, they had to find someone to buy the shorts they had, causing the bump in price.
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fickman
Fort Worth, Texas
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stickdog wrote:I wonder how well the short sellers did today?
The SEC suspended short selling about a week ago. LINK
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lwmuddy
Murrells Inlet, SC
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Deleted.
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