Still, a lingering fear among economists is that consumers will cut back on their spending, throwing the economy into a tailspin. The odds of a recession have grown this year, although Federal Reserve officials, the Bush administration and others are hopeful the country can avoid one.
what no coment on the only post having anything to do with the subject?
------------------ 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.
doom and bloom? are you pointing this at both sides? the ones who say there is nothign wrong, and all rosey? or just a typo?
somehow, no matter whose fault it is - but there are many lenders who are losing money, and many people losing homes. obviously, there is a big "its your own fault" light flashing over their heads - but that does not change the fact that it is there and happening, and affects the prices of homes and the intrest rates of loans.
and, next is the doubling of fuel & energy costs. these are not made up.
and, finally, there is a $200/k per minute gaping hole in our economy to rebuild a nation, which wrecks the stuff as fast as we build it.
yes, those of us who are educated & employed - its easy to fluff it off as "somebody else's problem" - but, you should never let cancers like this grow. I like fixing problems. these are in fact problems. if you are not affected - be glad. but, dont tell those that are affected that they are just making it up.
Originally posted by Formula88: That's the beauty of America. You can be poor, and still afford $100 a month for TV to babysit your kids so you don't have to.
What do you suggest? Have one of the parent quit their job to watch the kids? Maybe spend 500 a month for daycare?
Tell us what your options would be as a parent working a full time job with 3.2 school aged kids at home and barely enough to maintain it all.
ok this is getting retarted. aceman and phranc you two have been the reason that alot of threads have been sent to the trashcan. i know that your going to gang up on me now but i dont care. you two need to keep your mouths shut, ok we get it you dont like bill but hes entitled to his opinion too. and despite what you say you start all the confrontations that you guys have so just stop. im sick of going to a thread and seeing you two bitching at bill on how he is messing up his life. ok he is a drug addict and he possibly isnt employed(ok he has stated in the past that e is on welfair but that changes). im not trying to flame you but stop trolling, that is exactly what you are doing.
Originally posted by 84Bill: What do you suggest? Have one of the parent quit their job to watch the kids? Maybe spend 500 a month for daycare?
Tell us what your options would be as a parent working a full time job with 3.2 school aged kids at home and barely enough to maintain it all.
make it illegal to have 2 income families obviously - no way this would EVER fly.....but - people do seem to think, when mom's stayed at home - that them were the "good 'ol days"
Originally posted by Pyrthian: make it illegal to have 2 income families obviously - no way this would EVER fly.....but - people do seem to think, when mom's stayed at home - that them were the "good 'ol days"
What do you suggest? Have one of the parent quit their job to watch the kids? Maybe spend 500 a month for daycare?
Tell us what your options would be as a parent working a full time job with 3.2 school aged kids at home and barely enough to maintain it all.
Bill, although you'll say I have rose colored glasses......
My wife and I opted for her to quit working and stay at home with the kids. It was "cheaper" than putting them in daycare and for 90% of my wife's paycheck go to $1200/month in daycare costs.
That's why I moonlighted at Best Buy. To make ends meet.
But, I probably have rose colored glasses on and have never had problems making ends meet in my lifetime. Right, Bill?
ok this is getting retarted. aceman and phranc you two have been the reason that alot of threads have been sent to the trashcan. i know that your going to gang up on me now but i dont care. you two need to keep your mouths shut, ok we get it you dont like bill but hes entitled to his opinion too. and despite what you say you start all the confrontations that you guys have so just stop. im sick of going to a thread and seeing you two bitching at bill on how he is messing up his life. ok he is a drug addict and he possibly isnt employed(ok he has stated in the past that e is on welfair but that changes). im not trying to flame you but stop trolling, that is exactly what you are doing.
I wont gang up on you or give you a neg. rating but don't tell me to keep my mouth shut. If bill can have his opinion I can too right? Or can only people you want to hear have the ability to talk. I'm sick of going into a thread and seeing bill post stupid things. And bill isn't ruining just his life he ruins the lives of many people. Like his aging mother who has to support him and the "sheeple" who are dumb enough to work to prop his drug addled ass up on welfare.
This thread started out "is the economy good or bad?" we have been talking about the economy as a nation, not small pockets or individual towns or cities. The "economy" by all major economic indicators is doing very well, that is a flat fact.
I know dam well some people are not doing so well, there HAVE ALWAYS been people not doing so well. People have been throwing around terms like inflation off handedly when they do, or did not even know what it means!!!!!!
Could, might, what if?, some people say, etc etc etc. is the jist of the opposing view. Yes people have their opinions, yes they sure as hell can voice them but opinions are not fact no matter how many times they say them. I am not going to post the NUMBERS again, this has been done many times in the,,,,,,errrr 26 pages.
Gas has been high for quite some time now, we are not dying from it yet now are we.
My post was basically just saying, with the current good bad and the ugly,,,,take your pick who is who, taking over yet another thread why not just send it off where it belongs.
Originally posted by aceman: Bill, although you'll say I have rose colored glasses......
My wife and I opted for her to quit working and stay at home with the kids. It was "cheaper" than putting them in daycare and for 90% of my wife's paycheck go to $1200/month in daycare costs.
That's why I moonlighted at Best Buy. To make ends meet.
But, I probably have rose colored glasses on and have never had problems making ends meet in my lifetime. Right, Bill?
Wow you worked an extra job! You must be some kind of superman. Imagine if more people did that instead of crying. What a concept. Who would ever think that working more would get you more money.
Originally posted by Red88FF: This thread started out "is the economy good or bad?" we have been talking about the economy as a nation, not small pockets or individual towns or cities. The "economy" by all major economic indicators is doing very well, that is a flat fact.
I know dam well some people are not doing so well, there HAVE ALWAYS been people not doing so well. People have been throwing around terms like inflation off handedly when they do, or did not even know what it means!!!!!!
Could, might, what if?, some people say, etc etc etc. is the jist of the opposing view. Yes people have their opinions, yes they sure as hell can voice them but opinions are not fact no matter how many times they say them. I am not going to post the NUMBERS again, this has been done many times in the,,,,,,errrr 26 pages.
Gas has been high for quite some time now, we are not dying from it yet now are we.
My post was basically just saying, with the current good bad and the ugly,,,,take your pick who is who, taking over yet another thread why not just send it off where it belongs.
yes, so-so true. many of us had quite a good time financially up until 9/11. to me - that seems to be a key point where thing started slipping backwards. starting with the airline crunch, followed by the fuel/energy brunch. but, yes - it is NOWHERE near "bad". yes, here in Detroit - we are having an extra lousy time of it, so I see more gloom that most.
Bill, although you'll say I have rose colored glasses......
My wife and I opted for her to quit working and stay at home with the kids. It was "cheaper" than putting them in daycare and for 90% of my wife's paycheck go to $1200/month in daycare costs.
That's why I moonlighted at Best Buy. To make ends meet.
I understand completely however, that avenue you took is not available to everyone, only you. So, you "should" be a tab bit more understanding with regard to those "less fortunate" than yourself. It's called being graceful.
quote
But, I probably have rose colored glasses on and have never had problems making ends meet in my lifetime. Right, Bill?
Maybe but, you just so happened to be at the right place at the right time so congratulations on your success as not everyone is as fortunate as yourself.
[This message has been edited by 84Bill (edited 12-08-2007).]
Originally posted by Formula88: This thread isn't about me.
Who indicated it was? I merely asked you to clarify, so you cant then so be it and let it go. Neither this topic nor the question I posed was about you or your personal life, I was merely asking you a question.. what should parents do?
Originally posted by Pyrthian: yay! another Blue Shirt! yeah, my daughter been not working for 2 months now....she got a pretty big head on what she expects from a job now....her last one was Hooters....she wont even think about Taco Bell, cashier, etc...below her....
lol
Yeah.. it never fails that once one has a plan it always goes awry. For example I worked so many different Ja-hooobs (god I hate that word job and when I say it I actually roll my eyes and exaggerate it pronunciation) before 21 that I got tired of doing dead end menial labor (aka a job) for piss poor pay that I decided to finally chose a career in something I was very very good at. AND I could get a really low interest loan.. just sign here and my wealthy uncle will happily loan me money with a very low interest rate. I had a young family, was thinking of buying a new car, was paying on my loan that my wealthy uncle was so very kind enough to loan me.. I was so happy!!
About 2 years later my career went bust... But hey, I always look on the bright side... you know the sunny rose colored side of everything?
All in all I have concluded that I dont have credit so my credit report is meaningless + I dont have to worry about identity theft + when bill collectors call.. I suffer from a sudden bout of Tourette syndrome and they hang up, now they dont even call... It's the stress... I just cant help it. ( ya, thats a plus in the good column ) and I have some really cool looking pieces of useless paper with fancy script hanging on my wall attesting to how so very smart I am +.... my jealous biotchey ex who accused me of sleeping with every woman at the office and did everything in her power to make me miserable every chance she could got pissed off and moved out and took the pain in the ass kids with her. + All I have to pay is about 100 bucks a week as stay away money +... lets see.. about the only thing I could have done better was bought stock in Ramen... o Which I did my living off their product. + (living? baaahh + in good column) So lets tally... several check marks in the "good" column, one in the could have done it better column and one in the not so good column as I was back to a dead end low pay Ja-hooobs again. BUT HEY!! I can work 2 of them since thats pretty much the only type that is in EXTREME abundance! +++++ I'm happy again!
So now I'm roughly middle age where I need to start thinking about formulating a retirement plan being that I'm at my zenith in my chosen and very expensive career. Heh.. Honesly Pyrthian, I earn so much money I cant hardly spend it all in one place... usually about 2 or 3 tops +. So I gotto the Dr. because I was feeling really tired and run down.. You know what he says? He says gimme 150 bucks and I'll give you a prescription for pills that will help you with that stress problem... They are a bit pricey though if you dont have insurance... and be sure to read the pamphlet. Sure Doc... Nausea, vomiting, diarrhea, lost off appetite, sudden and uncontrollable mood swings, sweating, itching and irritation. Hey Doc? Go golfing. I'll see what I can get at the local corner. Thanks. Oh.. yeah..As for my retirement, I am planning to die young.+ Again and as always.. my plans go horribly awry every day I wake up.
I'm telling ya man this whole planning thing is a complete disaster... There needs to be a law against planning because it simply cant be done! But lets keep this all nicey nicey for everyone and look at it with a very placid vainer. <--- ATTENTION INTENTIONAL TYPO The only thing beneath me is dirt... So..... Now... what column does that go in?
[This message has been edited by 84Bill (edited 12-09-2007).]
So the consistent lowering of the interest rate by the feds means we are doing great, right?
They don’t even think that is true.
Fed Seems Poised to Lower Interest Rates 
Sunday December 9, 5:23 AM EST
WASHINGTON (AP) — A lot has changed since the Federal Reserve hinted two months ago that it might be finished cutting interest rates for a while. Credit has become harder to obtain, Wall Street has convulsed again and the housing slump has intensified. As a result, policymakers at the central bank now appear to have changed their minds about the need to drop interest rates again. The Fed had cut rates twice this year and officials suggested in October that might be enough to help the economy survive the credit and housing stress. Then the problems snowballed, leading Fed Chairman Ben Bernanke to signal that one more cut might be needed. Analysts expect the Fed to trim its key rate, now at 4.5 percent, by one-quarter of a percentage point at the meeting Tuesday. Some even speculate about the possibility of a half-point cut.
Banks, financial companies and other investors who made loans to people with spotty credit or put money into securities backed by those subprime mortgages have lost billions of dollars. Investors in the U.S. and abroad have grown more wary of buying new debt, thereby aggravating the credit crunch. All this has added to the turmoil on Wall Street, and Bernanke and other Fed officials say they must take it into account when deciding their next move. But does lowering rates mean the Fed essentially is bailing out investors or encouraging more sloppy decision-making? In other words, what exactly is the Fed's job? Bernanke and other Fed officials say it is to make policy that keeps the economy growing and inflation low, a stable climate that benefits individuals, businesses and investors. The Fed also has a responsibility to ensure the banking system is sound and financial markets run smoothly. "There is a link between Wall Street and Main Street. The Fed is taking the right actions, but they should be careful," said Victor Li, an economics professor at the Villanova School of Business.
Bernanke and other Fed officials say it is to make policy that keeps the economy growing and inflation low, a stable climate that benefits individuals, businesses and investors. The Fed also has a responsibility to ensure the banking system is sound and financial markets run smoothly.
This sounds like the economy is not doing good to me. If we need to bail out the banks.
------------------ 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.
Originally posted by 84fiero123: This sounds like the economy is not doing good to me. If we need to bail out the banks.
The Titanic is unsinkable. Just ask the captain Smith WAAAAAAAAYYYYY up in the ivory wheelhouse.
Now come on 84fiero123.. My feet are getting wet so we need to grab our tin cups and get to work saying alms just to make everyone happy that we are helping to bail the ship.
[This message has been edited by 84Bill (edited 12-09-2007).]
NEW YORK (AP) — State treasurers from Florida to Maine to Montana have found themselves in the awkward position this past week of having to explain why they parked taxpayer money in some of the most opaque investments on Wall Street.
More than a dozen state-run cash pools that manage money for local governments have some exposure to mortgage-related and other high-risk holdings that roiled credit markets this past summer, according to rating agency Standard & Poor's.
The fear now is that the same subprime-mortgage turmoil that triggered multi-billion-dollar writedowns for Wall Street's biggest banks might trickle down to teachers, civil servants and even the vendors delivering supplies to schools because of the way public funds were invested.
So now it is not only affecting the borrowers of those sub prime rate loans but the Banks, Wall Street, and the individual states that took the advise of those so called educated people who thought these were good investments.
Blame it on who ever you like but with all the money country wide that is invested in those loans we are in for a rude awakening in the next year.
But then I have no formal education in investing, so I must be wrong. Sometimes it takes someone who knows nothing about things to really be able to step back and see what is happening.
------------------ 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.
Many analysts believe the current quarter and the early part of next year will represent the period of maximum danger for a possible recession. "I think a full blown recession can be avoided but just barely," said David Jones, chief economist at DMJ Advisors. He predicted that the Fed will follow up its expected December rate cut with three more reductions at its first three meetings of 2008.
The rate cuts full effect wont really be felt for 16-18 months in the economy. A recession is 2 consecutive quarters of negative economic growth. So a rate cut won't impact the next two quarts or 4. Even at the higher rates of 18 months ago we didn't have the dreaded recession. In fact the overall economy is up buy an average of over 3% each quarter.
I didn’t say it. The guy who is supposed to be educated in economics did. But then I have been saying the economy is going down the tubes.
You can say what ever you like about what constitutes a recession, depression, or what ever. If the feds had not done all the tricks they did we would be in a lot worse shape than we are now.
Funny ain’t it, how someone with no formal education in economics can see something that those who do can‘t.
Make fun if you like, say what you like.
But I have been right all along.
------------------ 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.
I didn’t say it. The guy who is supposed to be educated in economics did. But then I have been saying the economy is going down the tubes.
You can say what ever you like about what constitutes a recession, depression, or what ever. If the feds had not done all the tricks they did we would be in a lot worse shape than we are now.
Funny ain’t it, how someone with no formal education in economics can see something that those who do can‘t.
Make fun if you like, say what you like.
But I have been right all along.
So, where exactly are the economists saying that the economy is going right down the tubes, Steve?
Steve, you haven't been right about anything in the economy.
Yes, even a blind dog finds a bone every now and then. But, you ain't a dog, you ain't blind, and you haven't found a bone.
BTW, those "tricks" are why we have a Federal Reserve Board. They're trying to steer the economy in the right direction.
I did. Where did the link say that the economist says "We are going into a recession" or "the economy is going down the tubes."?
From the article:
"I think a full blown recession can be avoided but just barely," said David Jones, chief economist at DMJ Advisors. He predicted that the Fed will follow up its expected December rate cut with three more reductions at its first three meetings of 2008.
Disect the sentence......
Hmmmmmmmmmmmm... I Think is in that sentence. Ohhhh, it's an opinion (From a knowledgeable person, though)
"recession can be avoided" (from a knowledgeable person, again)
 (AP) Federal Reserve Board Chairman, Ben Bernanke, speaks at the CATO Institute's annual Monetary... Full Image
p {margin:12px 0px 0px 0px;} WASHINGTON (AP) - The Federal Reserve cut a key interest rate by one-quarter of a percentage point Tuesday, trying to keep the country out of recession.
Just how many times do you have to see the words to believe it?
As I said before don’t believe it if you want, but we are in bad shape.
I’ll start at the top so you can follow.
WASHINGTON (AP) - The Federal Reserve cut a key interest rate by one-quarter of a percentage point Tuesday, trying to keep the country out of recession.
In its October announcement, the Fed indicated that its two rate cuts might well be all that would be needed to make sure the country was not pushed into a recession.
Many analysts believe the current quarter and the early part of next year will represent the period of maximum danger for a possible recession.
"I think a full blown recession can be avoided but just barely," said David Jones, chief economist at DMJ Advisors. He predicted that the Fed will follow up its expected December rate cut with three more reductions at its first three meetings of 2008.
Still say I don’t know what I am talking about?
Of course you do.
Because you can’t admit when you are wrong.
------------------ 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.
Wall Street to Fed: Not good enough Stocks tank after the Fed cuts rates by a quarter-percentage point, rather than the half some had hoped. Dour comments on the economy factor in too.
Holiday shopping hits the skids Mall traffic drops dramatically in the final run-up to Christmas, and chain stores see only modest sales increase NEW YORK (CNNMoney.com) -- After getting off to a fast start last month, holiday sales at some of the nation's largest retailers have slowed to an excruciatingly slow pace and mall traffic has dropped dramatically.
Why the Fed bailout might not work The announced plan to make credit markets more liquid could end up having the opposite effect. By Peter Eavis, senior writer
NEW YORK (Fortune) -- The Federal Reserve's latest move to make credit markets more liquid could deepen problems in the banking system and actually cause the markets to be even more illiquid.
Wednesday, the Fed, along with other central banks, announced a plan that is designed to enable banks to borrow money directly from the Fed at below-market rates. This will allow a wider range of banks to access Fed credit, and simultaneously allow them to submit a broader range of collateral to the Fed when taking out those loans.
Record spike in energy prices lifts Producer Price Index 3.2% in November, much higher than forecast; core prices also top estimates.
Wholesale prices saw their biggest jump in 34 years in November, according to a government inflation reading Thursday that came in much higher than forecast due to a record spike in energy prices.
The Producer Price Index rose to 3.2 percent, up from only a 0.1 percent rise in October. Economists surveyed by Briefing.com had forecast a 1.5 percent increase.
It was the biggest jump in that price measure since August 1973. The key driver in November -- a record 14.1 percent rise in energy prices. The previous record one-month jump in energy prices was in January 1990, on the eve of the first Gulf War.
Gasoline prices were up 15.1 percent in November, but that is a very volatile number. Gas prices were up 17.4 percent in February and down 14.8 percent in August, for example.
Food prices, which had been another source of inflationary pressures recently, were unchanged in the latest month.
But the even more closely watched core PPI, which strips out volatile food and energy prices, also rose much more than expected, jumping 0.4 percent after being unchanged in October. Economists had forecast only a 0.2 percent rise in that reading.
Still the 12-month change in the core PPI actually came down to a 2.0 percent rise, from a 2.5 percent rise in the October reading. The Federal Reserve is generally believed to want to see core inflation readings in the range of 1 to 2 percent.
The Fed uses interest rates in an effort to keep prices stable, and the threat of inflation is one of the factors that stopped the central bank from cutting rates more than the quarter percentage point cut announced Tuesday afternoon. Stocks plunged on that action as investors who had been hoping for a half-point cut were disappointed. And the hotter than expected PPI number led to further declines on Wall Street Thursday.
"The core is worse than expected, but on a year over year basis, its in the comfort zone, even if it's at the top of the comfort zone," said Wachovia economist Sam Bullard. He said he believes that the PPI is likely to show a decline in the December reading due to a retreat in gasoline prices so far this month.
The inflation reading comes the day before the government's key inflation reading on the retail level, the Consumer Price Index, or CPI. That report, which is less volatile than the PPI, is forecast to show a 0.6 percent in the overall CPI, and a 0.2 percent rise in core CPI.
WASHINGTON (AP) -- Former Federal Reserve Chairman Alan Greenspan says the odds the U.S. will fall into a recession are "clearly rising" and he believes economic growth is "getting close to stall speed."
Greenspan, who ran the central bank for 18 1/2 years, until early 2006, offered his views on the economy in an interview on NPR News' Morning Edition that will air on Friday. Excerpts of the interview were released on Thursday.
A severe slump in the housing market, a stubborn credit crisis and turbulence on Wall Street are endangering the country's economic health. Growth in the current October through December period is expected to have slowed to a feeble pace of just 1.5 percent, or less.
Economists, including Greenspan, have warned that the chances of a recession are growing.
Asked whether the economy will tip into a recession -- something that has not happened since 2001 -- Greenspan said, "It's too soon to say, but the odds are clearly rising."
He said he felt this way because of the slowing pace of growth. "We are getting close to stall speed," he said. "We are far more vulnerable at levels where growth is so slow than we would be otherwise," he added. "Indeed, it's like someone who has an immune system that's not working very well is subject to all sorts of diseases and the economy at this level of growth is subject to all sorts of shocks."
Greenspan's remarks come just days after the Federal Reserve, under Chairman Ben Bernanke, sliced a key interest rate for a third time this year to prevent the housing and credit troubles from sinking the economy.
The situation poses the biggest challenge yet to Bernanke since succeeding Greenspan in February 2006.
Some analysts have questioned whether Bernanke waited too long to cut the Fed's key rate and whether he has acted aggressively enough to soothe the economy's woes. The Fed initially dropped its key rate in September, the first reduction in four years. That was followed up by additional rate cuts in late October and then again on Tuesday.
Greenspan again rejected criticism that his policy actions helped to feed a housing boom that eventually went bust. Critics say Greenspan held interest rates too low for too long after the 2001 recession.
To have prevented such euphoria in housing that fed a bubble in prices, Greenspan said the Fed would have had to jack up interest rates so high that it would have damaged the economy. "That would have broken the back of the economy, and brought the housing boom down," Greenspan said. To top of page
Stocks knocked back Wall Street wilts as investors worry about higher inflation, lower economic growth. NEW YORK (CNNMoney.com) -- Stocks tanked Monday, building on the previous week's declines, as investors continued to worry about the economic outlook amid rising inflationary pressures and slower growth prospects.
The Dow Jones industrial average (INDU) lost 1.3 percent. The broader S&P 500 (INX) index lost around 1.5 percent. The tech-fueled Nasdaq (COMPX) composite lost 2.3 percent.
Treasury prices rose, lowering the corresponding yields as investors sought safety in government debt. The dollar was mixed versus other major currencies. Oil prices slipped and gold prices rose.
Stocks tumbled Friday at the end of a tough week, after a report showing higher consumer inflation raised bets that the Federal Reserve won't be able to keep cutting interest rates, even as the economy continues to struggle.
Those worries remained in place Monday, as investors sorted through the day's economic news and mulled the Fed's first credit auction.
"We're just in that rut right now, where people are worrying about credit and buyers are waiting for a bottom," said Ron Kiddoo, chief investment officer at Cozad Asset Management.
He said that stocks are likely to remain in a funk through the Christmas holidays.
On the upside, "sentiment has grown so negative that the market will likely react well to any good news that comes out over the next few weeks," said James Shelton, chief investment officer at Kanaly Trust Company.
The Federal Reserve offered $20 billion in 28-day credit through an auction Monday. The goal is for commercial banks to borrow from the Fed and then boost their lending to businesses and consumers. Results will be released Wednesday.
The series of auctions are part of the central bank's ongoing efforts to loosen up tight credit markets. Last week, the central bank also cut interest rates for the third time in a row since September as a means of adding liquidity to the banking system and tempering the risks to an economic recession.
But investors are worried that the Fed may have to put the brakes on its rate-cutting campaign, particularly if inflationary pressures keep rising. Former Fed Chairman Alan Greenspan said Sunday that the economy was at growing risk for stagflation - an environment in which the economy must contend with rising inflation and slower growth.
Meanwhile, Monday's economic news was mixed.
The New York Empire State index fell to 10.3 in December from 27.4 in November, a steeper-than-expected decline in the regional manufacturing read.
A separate report showed that the third-quarter current-account deficit narrowed more than expected.
And an afternoon report showed that homebuilder sentiment in December remained at a record low for the third straight month.
"Instead of taking action, President Bush says the economy is safe and sound," said House Democratic Caucus Chairman Rahm Emanuel. "Middle-class Americans and economic experts all agree on something the president still refuses to admit: the economy is struggling and families need real help."
WASHINGTON (AP) -- A December reading of U.S. homebuilders' sentiment remained at a record low for the third straight month.
The National Association of Home Builders said Monday its housing market index, which gauges builders' perceptions of conditions and expectations for home sales over the next six months, came in at 19 in December. The number was at the lowest level since the index began in January 1985.
Index readings higher than 50 indicate positive sentiment. The seasonally adjusted index has been below 50 since May 2006, and declined for eight straight months this year, and has been unchanged since October.
Tighter lending standards, rising defaults among borrowers with weak credit and a sense of worry about the housing market's future have meant fewer buyers for hard-hit homebuilders such as D.R. Horton (DHI, Fortune 500), Pulte Homes (PHM, Fortune 500) and Centex (CTX, Fortune 500).
I was so happy!! 
ya, thats a plus in the good column ) and I have some really cool looking pieces of useless paper with fancy script hanging on my wall attesting to how so very smart I am +.... my jealous biotchey ex who accused me of sleeping with every woman at the office and did everything in her power to make me miserable every chance she could got pissed off and moved out and took the pain in the ass kids with her. + All I have to pay is about 100 bucks a week as stay away money +... lets see.. about the only thing I could have done better was bought stock in Ramen... o Which I did my living off their product. + (living? 
one in the could have done it better column and one in the not so good column as I was back to a dead end low pay Ja-hooobs 
