state of the economy

Hey Mates, just remember, we have been through 32 recessions in this country since the 1700's and therefore we have seen 32 recoveries. This is the 33rd recession, so what do you think is next?:cheers:

08 Maserati Quattroporte Exec GT
98 Mercedes C230
 
MASERATI nut said:
Hey Mates, just remember, we have been through 32 recessions in this country since the 1700's and therefore we have seen 32 recoveries. This is the 33rd recession, so what do you think is next?:cheers:

08 Maserati Quattroporte Exec GT
98 Mercedes C230
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Only catch is totally different economics today to long ago, and majority were focused in sectors, this is a complete global collapse, great depression is even not comparable b/c of the different economics and policies today, S&L Crisis so many compare to is not even a fractional blip compared to this let alone it was sector specific. Working in the capital markets I guess I see what goes on more then whats reported on the news, can tell you this its' going to get much uglier in up coming years then where we're at now. The impending CRE defaults predicted is going to be a cluster @!@#$, I wonder what our gov will do then since their only focusing on residential...CRE collapse is going to be nasty.

I would just make sure you can market efficiently to clients in your area if your a mobile detailer.
 
Surfer said:
Only catch is totally different economics today to long ago, and majority were focused in sectors, this is a complete global collapse, great depression is even not comparable b/c of the different economics and policies today, S&L Crisis so many compare to is not even a fractional blip compared to this let alone it was sector specific. Working in the capital markets I guess I see what goes on more then whats reported on the news, can tell you this its' going to get much uglier in up coming years then where we're at now. The impending CRE defaults predicted is going to be a cluster @!@#$, I wonder what our gov will do then since their only focusing on residential...CRE collapse is going to be nasty.

I would just make sure you can market efficiently to clients in your area if your a mobile detailer.
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:iagree: Surfer, you put it exactly right, it is going to get much worse.........its great to have a positive and optimistic attitude,but there is that thing called reality and folks its here now! Just like you stated this is not the great depression and should not even be compared, this is a Global crisis, its not just the United States, all I can suggest is that we all still work hard, take pride in what we do and keep our chins up. We are Americans !! Don't give in without a fight.
 
Wendell Jarvis said:
:iagree: Surfer, you put it exactly right, it is going to get much worse.........its great to have a positive and optimistic attitude,but there is that thing called reality and folks its here now! Just like you stated this is not the great depression and should not even be compared, this is a Global crisis, its not just the United States, all I can suggest is that we all still work hard, take pride in what we do and keep our chins up. We are Americans !! Don't give in without a fight.
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Gents, you are correct that this crisis is global, but be careful.....opportunities abound in the right markets, not to mention shorting positions. Money is there, just gotta make smart moves...hang tough!!:cheers:

08 Maserati Quattroporte Exec GT
98 Mercedes C230
 
The other thing a lot don't realize, is this is a buildup over the last 20-30 years or so in our financial markets, the recent years was just the straw that broke the camels back. Thats why I hate our news so much with the crap they report. Anyone see Santelli on CNBC go bonkers yesterday on the stimulus plans? LOL, I was waiting for him to grab someone and chuck em across the room haha.

Still opportunities though, just unfortunate many can't take the risk. I'm still working on setting an acquisition fund up to be part of my company to acquire discounted CRE props, primarily apts/large multi-fam. Next two years are going to ripe for the picking as this year alone over 300B in commercial notes is coming due, and currently a lot of owners won't be able to refinance and investors won't be able to handle the influx of note negotiations...heck they already can't even handle their residential note negotiations or correctly for that matter, I just saw the stats of those doing loan mods..50-60% are already back in default. If the lender/investors were smart they would do principal reductions, their already going to take a loss anyway and much more costly to have foreclosures on the books. I'm like a hawk sitting on the sidelines ready to pounce on the prey :D
 
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orionz06 said:
i was gonna do a new kitchen, but apparently if i wait, someone else will pay for it...
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just miss your payment by 60 days and then hit your mortgage holder and ask for your part of the stimulus. Lord knows I see it everyday and feel cheated for doing everything correctly the 1st time and not speculating. Guess I will be 1 of the 2000 with good credit for the next 8 years and yet cannot find funding for any additional purchases !

Im now waiting for govt to pay me back for all the losses in the market and 401k , why should I have to be accountable for my choices when my neighbors arent having too :D

(joking or Id be crying)
 
whats sad is that is the truth... as for the 401k, dont let them pay you back... they will then control it and can have further control over your wealth... and they think they can spend it better...
 
The current problem with the wall steet (aka stock market) is that they are impatient. It it going to take a while to untangle some of this mess and declining market prices is more just wall street whining as it is reality. We still have not seen the full impact of the job cuts so they just need to sit tight for 6 to 9 months rather than just add more fear.

Wall Street was pampered by Congress (both parties) with lax regulation and deficit spending that was pouring too much money in the economy. This is their temper tantrum.
 
I don't know about you guys, but I happen to believe the hype.

Barry's policies are the tip of the spending iceberg. I'd be more optimistic if there was a little more restraint, but BILLIONS of dollars are being talked about and thrown at problems as if it was only thousands of dollars.

Spending excessively is what got the US consumer in this mess right now. People are just living within their means and naturally economic contraction will occur. The porkulus bill is just prolonging the natural economic outcome.

Good luck on the detailing business. Unfortunately, I think you will see a huge pullback on spending into the next year.

If this were a 9 inning ballgame, I'd venture to say we are in the 3rd inning.
 
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