The economy, is it good or bad. (Page 83/181)
Red88FF NOV 08, 11:23 PM
We just did this, a few pages ago. up down up down if you don't have the stomach for it don't invest. The stock market is not an economic indicator on it's own. Again look at the GDP,,,,, of course that isn't giving you guys the answer you want to hear.

Things might get bumpy being an election year, for all the usual reasons.
84fiero123 NOV 08, 11:37 PM
I have to repeat it again,

I never said it was all about the Stock market.

We have housing prices going down the tubes.

We have record bankruptcies.

We have record home foreclosures.

From the article thread above you red.

“Mr. Bernanke warned that the economy is about to “slow noticeably” as the housing market continues to spiral downward and financial institutions tighten up on lending.”

And this

“Testifying before the Joint Economic Committee, the Fed chairman said that the two rate cuts in September and October “should” be enough to keep the economy from slipping into a recession.”

Or this

“Asked if he saw any risks of a recession, Mr. Bernanke demurred. “We have not calculated the probability of a recession,” he responded. “Our assessment is for slower growth, but positive.””

Or this

“Mr. Bernanke offered a rocky outlook for the months ahead. He said that the battered housing market had yet to hit bottom, that delinquencies and foreclosures were likely to rise and that the downturn in home building was “likely to intensify.” He predicted that personal spending would advance more slowly, because consumers are less confident and because of tighter credit conditions.”

And this

“Mr. Bernanke gave no ground to the market’s desire for further easing,” wrote Ian Shepherdson, chief United States economist at High Frequency Economics in Valhalla, N.Y.
But Mr. Shepherdson and a number of other analysts predicted that the economy would slow much more than Mr. Bernanke expects and force the Fed’s hand.
Paul Ashworth, an economist at Capital Economics in London, predicted that the economy will be “stagnant at best” in the final quarter of this year.

But ya we are in fine shape. Ya.

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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.

84Bill NOV 08, 11:42 PM

quote
Originally posted by Red88FF:

We just did this, a few pages ago. up down up down if you don't have the stomach for it don't invest. The stock market is not an economic indicator on it's own. Again look at the GDP,,,,, of course that isn't giving you guys the answer you want to hear.

Things might get bumpy being an election year, for all the usual reasons.



Thats IS true but out dollar value is based on it so than means disaster if the market stays down. It means food fuel and goods will get more expensive, layoffs to curb profit losses will run rampant causing a further decline in investment markets as more people will cash in 401's and stocks to make ends meet, consumer markets will decline further, as will travel and leisure.

The future.... It's not looking very bright.
Phranc NOV 08, 11:46 PM
New home sales are up.

Housing prices are going down the tubes? You mean going down 10% coming off a 200% increase in less then ten years. Oh and only in some markets others have seen no decline in value and others still are going up. We have record forecloses because we had record number of morons who bought houses they couldn't afford. Go figure.
84Bill NOV 08, 11:50 PM
The downturn in new home sales prices have hammered the earnings of the nation's largest builders. IE lower profits.

How long can they last at making over priced pieces of crap at top dollar labor and keep the business afloat?

My guess, it wont last much longer
Red88FF NOV 08, 11:52 PM
“Asked if he saw any risks of a recession, Mr. Bernanke demurred. “We have not calculated the probability of a recession,” he responded. “Our assessment is for slower growth, but positive.””


Trying to swim in the deep end again I see.
Red88FF NOV 08, 11:53 PM

quote
Originally posted by Phranc:

New home sales are up.

Housing prices are going down the tubes? You mean going down 10% coming off a 200% increase in less then ten years. Oh and only in some markets others have seen no decline in value and others still are going up. We have record forecloses because we had record number of morons who bought houses they couldn't afford. Go figure.



Why would they listen this time? Market is up 6,000 points from when I was pissed off about it.

As said before compared to what!!!!!! Their will be plenty of people trying to spread despair this year, it is in their best interest to do so. Some have no reason other than a total lack of understanding. 6% increase in home values where we live, dang that is down from 20% so I am losing I guess! hehehehehe
84Bill NOV 09, 12:01 AM
Toll Brothers sales plunge
Revenue at luxury home builder falls 36% in early financial report; high cancellations for expensive homes reduce value of new contracts by nearly half.
By Chris Isidore, CNNMoney.com senior writer
November 8 2007: 6:33 AM EST


NEW YORK (CNNMoney.com) -- Luxury home builder Toll Brothers issued preliminary fourth-quarter results Thursday that showed a sharp drop in the number of new homes sold and an even deeper plunge in the average price of the home it was able to sell, as buyers canceled orders for its more expensive offerings
84Bill NOV 09, 12:02 AM
Making good on a bad real estate bet
On Tuesday, Hovnanian Enterprises (Charts, Fortune 500) released its own preliminary figures that showed cancellations amounted to 40 percent of gross contracts in its fiscal fourth quarter, up from a 35 percent cancellation rate in the year-earlier and preceding periods.

Pulte Homes (Charts, Fortune 500) reported a much bigger than expected loss in the most recent quarter at the end of October. That came the same day that rival Centex (Charts, Fortune 500) disclosed it had cut prices on some homes by 15 to 20 percent in order to try to maintain sales, and had cut staff by more than 40 percent. The day before Centex had reported a large second-quarter loss.

D.R. Horton (Charts, Fortune 500) reported in late October that its fiscal fourth-quarter orders fell 39 percent, while the value of those orders plunged 48 percent.

Credit rating agency Moody's downgraded the debt of Pulte, Centex and Lennar (Charts, Fortune 500), the nation's No. 1 builder in terms of revenue, to junk bond status.

Phranc NOV 09, 12:12 AM

quote
Originally posted by Red88FF:


Why would they listen this time?


Listen? No I expect to get a bunch of cut and paste for every little bit of bad news to counter the big picture.