The economy, is it good or bad. (Page 164/181)
84Bill JAN 16, 08:54 AM
Inflation pressures ease
Reading on consumer prices show slower increases in overall and core prices than in November, and are close to forecasts.


Misleading...
If I remember correctly in December the retail sector slashed prices and offered discounts to get people into the stores. According to the leading indicator released yesterday on retail sales they lost big on profits.
cliffw JAN 16, 08:58 AM

quote
Originally posted by 84Bill:
I'm sure the rose colored club will just call it hysteria that should be ignored because the economic future is so bright.


As I am sure that those with no light on upstairs will see it different. There is no monopoly on hysteria from either side Bill.
Who cares about the condition of the economy ? This thread is about like is it cold outside or is it warm? It is what it is.
For those that think it is bad, what is the fix ? Yesterday, I got an unsolicited credit offer for $7500.00, pre-approved, at 0% interest for one year. Spending it would help the economy but not my economy. What to do, what to do ?
84Bill JAN 16, 09:21 AM

quote
Originally posted by cliffw:
As I am sure that those with no light on upstairs will see it different. There is no monopoly on hysteria from either side Bill.



I tend to agree with that but the bottom line is the economy has been rounding the bend for months yet those who have foresight are being labeled "doom and gloom sayers" as if that will somehow make what we see go away.


quote

Who cares about the condition of the economy ? This thread is about like is it cold outside or is it warm?



Well, as you yourself have seen those who say it's warm outside aren't the ones being left out in the cold. It's those massive numbers of people that the rose club maintains "its their fault for borrowing too much" that fails to understand that it has a great impact on the economy. It causes a worsening of the situation to the point of involving those who did act responsibly.


quote

It is what it is.

For those that think it is bad, what is the fix ? Yesterday, I got an unsolicited credit offer for $7500.00, pre-approved, at 0% interest for one year. Spending it would help the economy but not my economy. What to do, what to do ?



Naturally. What it is is an economy circling the drain. Sure it has happened in the past but in the past people had better credit than they do now so their financial horsepower and willingness to go asshull deep into debt (which is where they are now) dragged the economy out of the hole while they went into it. Are you going to take that credit card? Are you willing to add another 7 grand to your overall debt? Everyone I talk to isnt interested in the 26% interest rate and is already 10k in debt or more to credit cards alone!

So where is the money going to be coming from?

[This message has been edited by 84Bill (edited 01-16-2008).]

Formula88 JAN 16, 09:35 AM

quote
Originally posted by 84Bill:

Lame... very lame...

I didnt side step anything, what do you want to dicuss?

How about the two reports due out tomorrow? Want to discuss that?



I asked a very straight forward question. If you had read my post you would know that. If you actually wanted a discussion, you would have taken the opportunity.

You chose to avoid answering a simple question and decided to play games. You've made your usefulness in this thread clear.
84Bill JAN 16, 09:40 AM

quote
Originally posted by Formula88:
I asked a very straight forward question. If you had read my post you would know that. If you actually wanted a discussion, you would have taken the opportunity.

You chose to avoid answering a simple question and decided to play games. You've made your usefulness in this thread clear.



I have noting to discuss nor do I possess the desire to discuss anything with you.
84fiero123 JAN 16, 09:45 AM
Again I say the problem is that those in the know, those with all that education, the stock broker, bankers that made all those loans to all those people who are going bankrupt right now.

They should have known that this was going to happen, I mean they are the smart ones right?

They have all the education in their respective fields.

So again I say it. the real problem was created by those with the power, money, education and they are not the ones getting hurt. The ones getting hurt are those who took their educated advise to BUY, BUY, BUY, BUY.

http://money.excite.com/jsp...ews_id=ap-d8u716ko0&

Inflation Jumps in 2007



Wednesday January 16, 9:20 AM EST

WASHINGTON (AP) — Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas. Meanwhile, industrial output was flat in December, more evidence of a significant slowdown in the economy.
Consumer prices rose by 4.1 percent for all of 2007, up sharply from a 2.5 percent increase in 2006, the Labor Department said Wednesday. Consumers felt the pain when they filled up their gas tanks or shopped for groceries. Prices for both energy and food shot up by the largest amount since 1990.

http://money.excite.com/jsp...ews_id=ap-d8u70lq00&

JPMorgan 4Q Profit Falls 34 Percent



Wednesday January 16, 8:44 AM EST

NEW YORK (AP) — JPMorgan Chase & Co. said Wednesday its fourth-quarter profit fell 34 percent after its exposure to subprime mortgages — though much smaller than at banking peers like Citigroup Inc. — devalued its portfolio by $1.3 billion.
CEO Jamie Dimon also attributed the profit decline at the nation's third-largest bank by market capitalization to worse-than-expected results in home equity loans.

http://money.excite.com/jsp...ews_id=ap-d8u70hu80&

Wells Fargo 4Q Profit Drops 38 Percent



Wednesday January 16, 8:36 AM EST

SAN FRANCISCO (AP) — Wells Fargo Inc., one of the nation's largest banks, said Wednesday fourth-quarter earnings fell 38 percent, hurt by a charge to cover fallout from the subprime loan crisis.
Net income fell to $1.36 billion, or 41 cents per share, in the October-December period from $2.18 billion, or 64 cents per share, a year ago. The latest quarter included $1.4 billion in losses on home equity loans in the fourth quarter, as borrowers in California and the Midwest struggle to make mortgage payments as many rates reset higher.

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cliffw JAN 16, 09:51 AM

quote
Originally posted by 84Bill:
Are you going to take that credit card? Are you willing to add another 7 grand to your overall debt?
So where is the money going to be coming from?


I asked the wife, she said no, . I did good, . She was the one massively in debt when we married. I just had expenses. If half of the money which goes towards interest were spent within the general economy, that would be a fix of where the money is gonna come from. That is turn over money which stimulates like tax cuts. Not money for some rich fat cat to sit on and enslave people.
It used to be a noble thing to give man credit. Now it is a business designed to make money. You always talk about giving away a dollar. Bad thinking my friend (even though you did block my PMs, ) You are blocking the economy. The economy works by people producing. I did not have a chance to respond to buddycraigg's thread where he was panhandled. C'mon, they could have made twice as much money had they split up. That was plain out begging. With a crappy attitude.
I have not participated in this thread much. As mentioned, the money comes from production. That $7,500.00 credit limit that I am not taking is gonna get spent anyways. I will just get more for my monies and give more to those that need it. A win win situation.
84Bill JAN 16, 09:53 AM

quote
Originally posted by 84fiero123:

Again I say the problem is that those in the know, those with all that education, the stock broker, bankers that made all those loans to all those people who are going bankrupt right now.

They should have known that this was going to happen, I mean they are the smart ones right?

They have all the education in their respective fields.

So again I say it. the real problem was created by those with the power, money, education and they are not the ones getting hurt. The ones getting hurt are those who took their educated advise to BUY, BUY, BUY, BUY.



One thing our educational system appears to lack is the teaching of empathy. Doctors who lack empathy make bad diagnosis's, Lawyers who lack empathy make "deals" based on making a quick buck so they can close the case and work the next victim, Brokers and CEO's who lack empathy rape people and companies of their wealth and transfer it to their own pockets.

All the individuals above will measure success by looking at what they have in their pockets instead of the quality of the services or decisions they make which leave people feeling better and happier with their well spent money.
cliffw JAN 16, 09:55 AM

quote
Originally posted by 84Bill:
Are you willing to add another 7 grand to your overall debt?


Depends. I am happy with what I got. I could afford to. I have no debt other than piddly squat save my home (which is really an investment which can be recouped).
cliffw JAN 16, 09:57 AM

quote
Originally posted by 84Bill:
One thing our educational system appears to lack is the teaching of empathy.


The government should not be involved with the settings of morality. I heard that from you.