Home › Forums › Financial Markets/Economics › DEFCON
- This topic has 35 replies, 7 voices, and was last updated 15 years ago by
drunkle.
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AuthorPosts
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February 28, 2008 at 8:22 PM #11956
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February 28, 2008 at 8:55 PM #162320
bubble_contagion
Participant“Less than a year ago, a recession was the last thing on anyone’s mind. In fact, over the summer, as I was questioning the conventional wisdom, I read an article on my television show that quoted a financial expert as saying, “It is the strongest global market that we’ve seen in the history of measuring these things.”
Not true. Many of us new what was comming, rented instead of buying and loaded up on gold and Euro. The only thing I didn’t see comming was $100 oil, which is funny since I work for an oil extraction machinery company.
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February 29, 2008 at 12:23 AM #162410
Deal Hunter
ParticipantTwo years ago, my best friend and I had a falling out. We stopped speaking because I refused to get recruited into her new MLM company (a mortage operation) whose motto was “Make your house work for you. Take out your equity and invest.”
I had a couple of homes already, both with large equity. I wouldn’t do a refi with her to cash out and re-invest. This is partly due to conventional wisdom I got from my father – Pay off your mortgage, have no debts and buy income-producing assets. The other reason was that 2 years ago was a seller’s market and my own wisdom dictacted that one does not buy in a seller’s market.
I’m glad I stood my ground, but it makes me very sad to think how she might be faring now.
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February 29, 2008 at 8:49 AM #162510
EconProf
ParticipantBobS
DH: Don’t be sad. She wasn’t your friend. -
February 29, 2008 at 8:49 AM #162809Participant
BobS
DH: Don’t be sad. She wasn’t your friend. -
February 29, 2008 at 8:49 AM #162824Participant
BobS
DH: Don’t be sad. She wasn’t your friend. -
February 29, 2008 at 8:49 AM #162840Participant
BobS
DH: Don’t be sad. She wasn’t your friend. -
February 29, 2008 at 8:49 AM #162912Participant
BobS
DH: Don’t be sad. She wasn’t your friend.
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February 29, 2008 at 12:23 AM #162708Participant
Two years ago, my best friend and I had a falling out. We stopped speaking because I refused to get recruited into her new MLM company (a mortage operation) whose motto was “Make your house work for you. Take out your equity and invest.”
I had a couple of homes already, both with large equity. I wouldn’t do a refi with her to cash out and re-invest. This is partly due to conventional wisdom I got from my father – Pay off your mortgage, have no debts and buy income-producing assets. The other reason was that 2 years ago was a seller’s market and my own wisdom dictacted that one does not buy in a seller’s market.
I’m glad I stood my ground, but it makes me very sad to think how she might be faring now.
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February 29, 2008 at 12:23 AM #162724Participant
Two years ago, my best friend and I had a falling out. We stopped speaking because I refused to get recruited into her new MLM company (a mortage operation) whose motto was “Make your house work for you. Take out your equity and invest.”
I had a couple of homes already, both with large equity. I wouldn’t do a refi with her to cash out and re-invest. This is partly due to conventional wisdom I got from my father – Pay off your mortgage, have no debts and buy income-producing assets. The other reason was that 2 years ago was a seller’s market and my own wisdom dictacted that one does not buy in a seller’s market.
I’m glad I stood my ground, but it makes me very sad to think how she might be faring now.
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February 29, 2008 at 12:23 AM #162740Participant
Two years ago, my best friend and I had a falling out. We stopped speaking because I refused to get recruited into her new MLM company (a mortage operation) whose motto was “Make your house work for you. Take out your equity and invest.”
I had a couple of homes already, both with large equity. I wouldn’t do a refi with her to cash out and re-invest. This is partly due to conventional wisdom I got from my father – Pay off your mortgage, have no debts and buy income-producing assets. The other reason was that 2 years ago was a seller’s market and my own wisdom dictacted that one does not buy in a seller’s market.
I’m glad I stood my ground, but it makes me very sad to think how she might be faring now.
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February 29, 2008 at 12:23 AM #162811Participant
Two years ago, my best friend and I had a falling out. We stopped speaking because I refused to get recruited into her new MLM company (a mortage operation) whose motto was “Make your house work for you. Take out your equity and invest.”
I had a couple of homes already, both with large equity. I wouldn’t do a refi with her to cash out and re-invest. This is partly due to conventional wisdom I got from my father – Pay off your mortgage, have no debts and buy income-producing assets. The other reason was that 2 years ago was a seller’s market and my own wisdom dictacted that one does not buy in a seller’s market.
I’m glad I stood my ground, but it makes me very sad to think how she might be faring now.
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February 28, 2008 at 8:55 PM #162618Participant
“Less than a year ago, a recession was the last thing on anyone’s mind. In fact, over the summer, as I was questioning the conventional wisdom, I read an article on my television show that quoted a financial expert as saying, “It is the strongest global market that we’ve seen in the history of measuring these things.”
Not true. Many of us new what was comming, rented instead of buying and loaded up on gold and Euro. The only thing I didn’t see comming was $100 oil, which is funny since I work for an oil extraction machinery company.
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February 28, 2008 at 8:55 PM #162632Participant
“Less than a year ago, a recession was the last thing on anyone’s mind. In fact, over the summer, as I was questioning the conventional wisdom, I read an article on my television show that quoted a financial expert as saying, “It is the strongest global market that we’ve seen in the history of measuring these things.”
Not true. Many of us new what was comming, rented instead of buying and loaded up on gold and Euro. The only thing I didn’t see comming was $100 oil, which is funny since I work for an oil extraction machinery company.
-
February 28, 2008 at 8:55 PM #162651Participant
“Less than a year ago, a recession was the last thing on anyone’s mind. In fact, over the summer, as I was questioning the conventional wisdom, I read an article on my television show that quoted a financial expert as saying, “It is the strongest global market that we’ve seen in the history of measuring these things.”
Not true. Many of us new what was comming, rented instead of buying and loaded up on gold and Euro. The only thing I didn’t see comming was $100 oil, which is funny since I work for an oil extraction machinery company.
-
February 28, 2008 at 8:55 PM #162721Participant
“Less than a year ago, a recession was the last thing on anyone’s mind. In fact, over the summer, as I was questioning the conventional wisdom, I read an article on my television show that quoted a financial expert as saying, “It is the strongest global market that we’ve seen in the history of measuring these things.”
Not true. Many of us new what was comming, rented instead of buying and loaded up on gold and Euro. The only thing I didn’t see comming was $100 oil, which is funny since I work for an oil extraction machinery company.
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February 29, 2008 at 9:07 AM #162525
jpinpb
ParticipantThat was a scary article. I was hoping for housing prices to adjust, a recession is something people will have to deal w/but a depression is quite dire.
Heard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children.-
February 29, 2008 at 1:01 PM #162702
kewp
ParticipantHeard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children.
God Forbid housing prices crash and people can afford a house to raise a family in San Diego. Whats wrong with you people?
I’m actually leaning towards the depression camp. I think the whole ‘financial services’ sector will collapse along with the bond market and *that* is whats really been keeping the economy moving. Not the shadow of real estate.
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February 29, 2008 at 4:19 PM #162901
paramount
ParticipantI am prepared for what’s ahead as much as possible – and I think it may all be worth it so long as we learn from it.
Let’s get back to the basics: Enjoy life, work hard, live within your means and with less materialism. Things will be better for future generations if they learn from our generation’s excesses.
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February 29, 2008 at 5:27 PM #162925
drunkle
Participant“just to get by”
15/hr was minimum for getting by imo 7-10 years ago and that was with no car payment and a roommate.
13.7 sounds like a lowering of the standards… higher gas, higher ins, higher rents, higher food… forgeddabootit.
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February 29, 2008 at 5:27 PM #163230Participant
“just to get by”
15/hr was minimum for getting by imo 7-10 years ago and that was with no car payment and a roommate.
13.7 sounds like a lowering of the standards… higher gas, higher ins, higher rents, higher food… forgeddabootit.
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February 29, 2008 at 5:27 PM #163242Participant
“just to get by”
15/hr was minimum for getting by imo 7-10 years ago and that was with no car payment and a roommate.
13.7 sounds like a lowering of the standards… higher gas, higher ins, higher rents, higher food… forgeddabootit.
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February 29, 2008 at 5:27 PM #163255Participant
“just to get by”
15/hr was minimum for getting by imo 7-10 years ago and that was with no car payment and a roommate.
13.7 sounds like a lowering of the standards… higher gas, higher ins, higher rents, higher food… forgeddabootit.
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February 29, 2008 at 5:27 PM #163335Participant
“just to get by”
15/hr was minimum for getting by imo 7-10 years ago and that was with no car payment and a roommate.
13.7 sounds like a lowering of the standards… higher gas, higher ins, higher rents, higher food… forgeddabootit.
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February 29, 2008 at 4:19 PM #163206Participant
I am prepared for what’s ahead as much as possible – and I think it may all be worth it so long as we learn from it.
Let’s get back to the basics: Enjoy life, work hard, live within your means and with less materialism. Things will be better for future generations if they learn from our generation’s excesses.
-
February 29, 2008 at 4:19 PM #163219Participant
I am prepared for what’s ahead as much as possible – and I think it may all be worth it so long as we learn from it.
Let’s get back to the basics: Enjoy life, work hard, live within your means and with less materialism. Things will be better for future generations if they learn from our generation’s excesses.
-
February 29, 2008 at 4:19 PM #163232Participant
I am prepared for what’s ahead as much as possible – and I think it may all be worth it so long as we learn from it.
Let’s get back to the basics: Enjoy life, work hard, live within your means and with less materialism. Things will be better for future generations if they learn from our generation’s excesses.
-
February 29, 2008 at 4:19 PM #163312Participant
I am prepared for what’s ahead as much as possible – and I think it may all be worth it so long as we learn from it.
Let’s get back to the basics: Enjoy life, work hard, live within your means and with less materialism. Things will be better for future generations if they learn from our generation’s excesses.
-
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February 29, 2008 at 1:01 PM #163002Participant
Heard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children.
God Forbid housing prices crash and people can afford a house to raise a family in San Diego. Whats wrong with you people?
I’m actually leaning towards the depression camp. I think the whole ‘financial services’ sector will collapse along with the bond market and *that* is whats really been keeping the economy moving. Not the shadow of real estate.
-
February 29, 2008 at 1:01 PM #163017Participant
Heard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children.
God Forbid housing prices crash and people can afford a house to raise a family in San Diego. Whats wrong with you people?
I’m actually leaning towards the depression camp. I think the whole ‘financial services’ sector will collapse along with the bond market and *that* is whats really been keeping the economy moving. Not the shadow of real estate.
-
February 29, 2008 at 1:01 PM #163033Participant
Heard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children.
God Forbid housing prices crash and people can afford a house to raise a family in San Diego. Whats wrong with you people?
I’m actually leaning towards the depression camp. I think the whole ‘financial services’ sector will collapse along with the bond market and *that* is whats really been keeping the economy moving. Not the shadow of real estate.
-
February 29, 2008 at 1:01 PM #163108Participant
Heard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children.
God Forbid housing prices crash and people can afford a house to raise a family in San Diego. Whats wrong with you people?
I’m actually leaning towards the depression camp. I think the whole ‘financial services’ sector will collapse along with the bond market and *that* is whats really been keeping the economy moving. Not the shadow of real estate.
-
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February 29, 2008 at 9:07 AM #162823Participant
That was a scary article. I was hoping for housing prices to adjust, a recession is something people will have to deal w/but a depression is quite dire.
Heard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children. -
February 29, 2008 at 9:07 AM #162839Participant
That was a scary article. I was hoping for housing prices to adjust, a recession is something people will have to deal w/but a depression is quite dire.
Heard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children. -
February 29, 2008 at 9:07 AM #162855Participant
That was a scary article. I was hoping for housing prices to adjust, a recession is something people will have to deal w/but a depression is quite dire.
Heard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children. -
February 29, 2008 at 9:07 AM #162927Participant
That was a scary article. I was hoping for housing prices to adjust, a recession is something people will have to deal w/but a depression is quite dire.
Heard today hourly wage for a person to just get by in San Diego needs to be 13.71 for single, w/out children.
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