The economy, is it good or bad. (Page 139/181)
84fiero123 JAN 08, 08:13 PM
Have ether of you 2 even been reading what I have been saying all along or are you just here to try and intimidate me?

The housing market has been going down for at least the last 6 months and taking the rest of the economy with it.

Ace you are one man out of how many millions?

Not everyone was able to buy there homes 10 years ago, or 5 years ago. Some just got the down payments in the last few years so they looked then.

So the buyers agent is at fault for the housing collapse?

Or is it the buyers getting screwed?

Again they are Real-estate agents who make money on the sale, they don’t care about you.

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

Phranc JAN 08, 08:21 PM

quote
Originally posted by 84fiero123:
The housing market has been going down for at least the last 6 months and taking the rest of the economy with it.



Taking the rest down with it?

18k new jobs

5% unemployment. Thats still low

Economic Growth: Real GDP growth was 4.9 percent in the third quarter of 2007, supported by strong gains in business investment and exports. (Last updated: December 20, 2007)

Business Investment: Business spending on commercial structures and equipment rose solidly in the third quarter. Healthy corporate balance sheets bode well for continued investment growth. (Last updated: December 20,2007)

Exports: Strong global growth is boosting U.S. exports, which grew by 10.3 percent over the past 4 quarters. (Last updated: December 20, 2007)

Inflation: Core inflation remains contained. The consumer price index excluding food and energy rose 2.3 percent over the 12 months ending in October. (Last updated: December 14, 2007)

Tax Revenues: Tax receipts rose 6.7 percent in fiscal year 2007 (FY07) on top of FY06's 11.8 percent increase. As a share of GDP, FY07 receipts exceeded their 40-year average. (Last updated: October 12, 2007)

Real after-tax income per person increased 2.1 percent over the past 12 months (ending in November). (Last updated: December 21, 2007)

We are on track to make significant further progress on the deficit. The FY07 budget deficit was down to 1.2 percent of GDP, from 1.9 percent in FY06. Much of the improvement in the deficit reflects strong revenue growth, which in turn reflects the continued strength of the U.S. economy. Looking ahead, higher spending on entitlement programs dominates the future fiscal situation; we must squarely face up to the challenge of reforming these programs.

Quarter after quarter of economic growth.

Tell me has there been one quarter or one month of negative growth?

Maybe they didn't see what you did because you're seeing things that aren't there.

But you keep posting your tired old housing drum time and time again and counter with a myriad of other factors that show growth.

Tunnel vision. Thats what you see. One small factor and your so fixated on it you can't see the numerous other things that show growth.

They didn't see what you saw because they saw the big picture. Something you can't do. Or refuse to do.
84fiero123 JAN 08, 08:28 PM
Housing Woes, AT&T News Sinks Stocks



Tuesday January 8, 5:45 PM EST

NEW YORK (AP) — Wall Street skidded lower in another fitful session Tuesday, with investors worried that the tumbling economy may not only cripple mortgage lenders like Countrywide Financial Corp. but also create problems for other companies like AT&T Inc. The Dow Jones industrials fell nearly 240 points.
Investors tried to take the market higher at many points during the day, but eventually succumbed to another stream of bad news. The Dow and the Standard & Poor's 500 index are down more than 5 percent so far this year and the Nasdaq composite index is down nearly 8 percent, having been pummeled since Jan. 1 due to worse-than-anticipated readings on the economy.
The day's events raised fears that fourth-quarter earnings reports, which start pouring in later this week, may not meet already lowered expectations.


In the morning, the National Association of Realtors said its index tracking pending U.S. home sales fell 2.6 percent in November, a larger decline than the market expected. Jitters about the profitability of Countrywide and KB Home kept Wall Street on edge throughout the day, and President Bush reiterating the problems facing the economy likely added to the market's uneasiness.

http://money.excite.com/jsp...ews_id=ap-d8u1vr680&

Housing Outlook Takes a Grim Turn



Tuesday January 8, 6:26 PM EST

LOS ANGELES (AP) — Shares of Countrywide Financial Corp., the nation's largest mortgage lender, sank to an all-time low Tuesday as a major homebuilder offered a grim outlook for the industry and the Bush administration signaled it is growing more concerned about rising mortgage defaults.
KB Home reported a mammoth loss for the fourth quarter and said there are no indications that the housing market is stabilizing. The head of Fannie Mae, a government-sponsored mortgage lender, predicted the housing market would weaken through 2009 and said a turnaround wasn't likely until 2010.
President Bush, meanwhile, conceded, "It's going to take awhile to work through the downturn," and Treasury Secretary Henry Paulson said he is concerned about the potential for additional home defaults.

http://money.excite.com/jsp...ews_id=ap-d8u20eb00&

All these educated people here keep saying we are fine, good, you are fine, the rest of the economy is NOT.

------------------
Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

84fiero123 JAN 08, 08:33 PM
Cayne Out As Bear Stearns CEO



Tuesday January 8, 8:06 PM EST


NEW YORK (AP) — Bear Stearns Cos. said Tuesday that Chief Executive James "Jimmy" Cayne will give up control of the fifth-largest U.S. investment bank amid unprecedented losses from the subprime mortgage crisis.

Cayne, 73, will serve as non-executive chairman, the New York-based company said in a statement. He will be succeeded as CEO by President Alan Schwartz, effective immediately.

"We have been through some challenging times in the past few months, but I am confident the difficulties are temporary," Cayne said in a memo to staff. "I am equally confident that Alan will lead Bear Stearns to new levels of success and prestige."

Cayne added that his new role as non-executive chairman will be as an "advisory capacity" to Schwartz, and he is no longer an employee of Bear Stearns. The memo did not state when Cayne might give up the chairman position.

http://money.excite.com/jsp...ews_id=ap-d8u21tg80&

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

Phranc JAN 08, 08:40 PM

quote
All these educated people here keep saying we are fine, good, you are fine, the rest of the economy is NOT.

Its not my fault you don't understand the numbers. I just showed you where the economy is up and still growing. Big picture, not tunnel vision.
84fiero123 JAN 08, 08:48 PM
Big picture housing is bringing a lot of others down.
The numbers have been going down all last year.
Who has tunnel vision now

Everything is connected, the dominos are falling.

------------------
Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

Phranc JAN 08, 08:53 PM

quote
Originally posted by 84fiero123:

Big picture housing is bringing a lot of others down.
The numbers have been going down all last year.
Who has tunnel vision now

Everything is connected, the dominos are falling.





Show me the negative growth numbers. You can't. All you can do is harp on housing. I just showed you numbers that weren't down. You don't know what the big picture is. But keep posting you doom and gloom. I'll keep posting positive growth until there isn't any. But we'll see how long that takes. If we had listened to you 6 months ago it should be happening now. But it isn't.
84fiero123 JAN 08, 10:09 PM
As my buddy that owns a body shop says

“These things take time.”

You keep posting what you think is good news and I will keep posting the down side. We will see who is right in the end.

------------------
Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

Phranc JAN 08, 10:13 PM

quote
Originally posted by 84fiero123:

As my buddy that owns a body shop says

“These things take time.”

You keep posting what you think is good news and I will keep posting the down side. We will see who is right in the end.




Even a stopped clock is right twice a day.

Even a blind squirrel finds a nut.

You keep posting the same reports over and over again.
84fiero123 JAN 08, 10:18 PM
Not the same reports just updates of the progress.

They may be about the same subject but not the same report.

Each gets worse as time progresses.

Each shows more things are being affected.

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.