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| The economy, is it good or bad. (Page 22/181) |
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84Bill
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AUG 09, 08:29 AM
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| quote | Originally posted by Formula88:
Bill, how much would your dad's house sell for today?
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The GTO was fully loaded, 396, sixpack 348 hp, posi, slushbox, seatbelts, all the toys.
The house he bought for 12k in 65 sold for 59,9 in 95 and they bought another for 69k 9.1 % interest that same year that is now worth just shy of 220. he refied last year and got a much lower interest rate.
Somone making 74k is payin quite a bit in income taxes.. The insurance went up on the house this year... the jump 611 dollars, from 1300 to 1900.
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Pyrthian
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AUG 09, 08:55 AM
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maybe something for another thread - especially for the economics guy:
why is there inflation? I am under the impression it is a system in place to keep people from hoarding money.
or is it a system in place which justifies charging interest?
I can see no actual or natural reason for inflation. it certainly is not a "dwindling" supply thing.
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Toddster
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AUG 09, 12:43 PM
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You guys need to keep something about inflation in mind. It varies with each micro-economy. Take for example the California Bay Area. In 1965 this was strictly an agricultural economy. Cherry trees, plums, etc. In the late 60's and early 70's the economy changed to a technology center and the farms disappeared over time. Comparing the current economy of the Bay Area to the 1965 Economy on inflation alone would be madness. Houses are 50 times more expensive now but the economy here is totally different. And the fact of the matter is that the economy of the US has changed on a national level as well. Take this into account.
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84fiero123
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AUG 09, 06:04 PM
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So this all means nothing?
Dow Plunges 387 on Subprime Concerns
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Aug 9, 5:38 PM (ET)
By TIM PARADIS

(AP) Specialist Jason Blatt looks at his screen as he works at his post on the floor of the New York...
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NEW YORK (AP) - Wall Street's deepening fears about a spreading credit crunch sent stocks plunging again Thursday, with the Dow Jones industrials extending their series of triple-digit swings and falling more than 380 points. The catalyst for the market's latest skid: a French bank's announcement that it was freezing three funds that invested in U.S. subprime mortgages.
The announcement by BNP Paribas raised the specter of a widening impact of U.S. credit market problems. The idea that anyone - institutions, investors, companies, individuals - can't get money when they need it unnerved a stock market that has suffered through weeks of volatility triggered by concerns about tight credit and bad subprime mortgages.
A move by the European Central Bank to provide more cash to money markets intensified Wall Street's angst. Although the bank's loan of more than $130 billion in overnight funds to banks at a low rate of 4 percent was intended to calm investors, Wall Street saw it as confirmation of the credit markets' problems. It was the ECB's biggest injection ever.
The Federal Reserve added a larger-than-normal $24 billion in temporary reserves to the U.S. banking system.
http://apnews.excite.com/ar...70809/D8QTOJH80.html
As far as California’s economy goes, you guys have been riding the crest of a wave for so long that sooner or later it is going to dump you right into the trough.------------------
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.
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kwagner
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AUG 09, 06:33 PM
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84fiero123
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AUG 09, 06:39 PM
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Just keep telling yourself that, you will believe it. Right up until the economy goes right down the tubes, and it will eventually.
We have way to much credit dept in this country and it is all eventually going to come crashing down.------------------
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.
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84Bill
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AUG 09, 06:43 PM
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France had runs on their banks today... Everything is fine fine fine....
SELL SELL!!!
PARIS, Aug. 9 — The French bank BNP Paribas suspended operations of three of its funds and the European Central Bank injected cash into the financial system, both in the wake of turmoil in the United States mortgage market.
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Related
Stocks Tumble as Home Loan Worries Spread (August 9, 2007) The European Central Bank lent 94.8 billion euros, or $130.1 billion, to meet banks’ needs after demand for cash in the European money markets drove interest rates higher. The central bank, taking such emergency action for the first time since just after the terrorist attacks of Sept. 11, 2001, said it would provide unlimited amounts at 4 percent, its current benchmark rate.
The actions initiated a sell-off in European markets that spilled over into the United States.
BNP is the latest European lender to announce problems linked to the worsening credit market in the United States, where several major companies have already announced losses.[This message has been edited by 84Bill (edited 08-09-2007).]
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Red88FF
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AUG 09, 07:04 PM
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13,270.68 that is still very high. I am STILL not worried. I wonder how many of you complaqiners actually own stock other than in a retirement fund?
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84Bill
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AUG 09, 07:06 PM
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| quote | Originally posted by Red88FF:
I wonder how many of you complaqiners actually own stock other than in a retirement fund? |
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Sold mine off last year... while I had the ability... Good luck. 
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madcurl
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AUG 09, 07:42 PM
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Cisco System (csco) is down a couple of bucks, but up from $13 bucks when I got in, hehe. With Bush and Europe on the tube...Hold on ladies, its going to be a bumpy ride.
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