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bsrsharma
ParticipantAbout half the country is running on fumes. This is not some blip. These are some quotes:
“It’s a red flag,” said Jay Bryson, global economist at Wachovia. “If consumer spending starts to weaken, the overall outlook for economic growth will diminish.”
That, Wal-Mart executives said, is precisely what has begun to happen in its 4,000 United States stores over the last three months — even after the chain cut prices on 16,000 products this summer.
“Many customers are running out of money at the end of the month,” said H. Lee Scott Jr., the chief executive of Wal-Mart.
Mr. Scott said Wal-Mart’s shoppers, who generally earn less than $40,000 a household, are “under difficult pressure economically.”
He added that “the paycheck cycle is more pronounced now than ever before,” meaning that customers are left with little cash by the end of the month.
ParticipantIs it possible
It was remarked by someone after the Columbia crash investigation that NASA culture has changed over time from "Can Do" to "Can't Fail". If I were a shuttle engineer/manager, I would be quaking in my boots at the thought of hurtling down at 3000 degree C with a gash in the shield. At least, I can't do that with a (known) gash in my tire on a freeway!
ParticipantIs it possible
It was remarked by someone after the Columbia crash investigation that NASA culture has changed over time from "Can Do" to "Can't Fail". If I were a shuttle engineer/manager, I would be quaking in my boots at the thought of hurtling down at 3000 degree C with a gash in the shield. At least, I can't do that with a (known) gash in my tire on a freeway!
ParticipantIs it possible
It was remarked by someone after the Columbia crash investigation that NASA culture has changed over time from "Can Do" to "Can't Fail". If I were a shuttle engineer/manager, I would be quaking in my boots at the thought of hurtling down at 3000 degree C with a gash in the shield. At least, I can't do that with a (known) gash in my tire on a freeway!
Participantaccounts with a broker
The government has nothing to do with it. Many times, large brokerages take private insurance from Securities Investor Protection Corporation (SIPC) – to cover some risks (not investment loss risk though). In case of losses due to severe malpractice, the only recourse is legal action (sueing the brokerage, usually class action by lawers who specialize in securities fraud law)
see http://www.finra.org/InvestorInformation/InvestorProtection/SIPCProtection/index.htm
for SIPC insurance offered by FINRA (Financial Industry Regulatory Authority, Inc.)
Participantaccounts with a broker
The government has nothing to do with it. Many times, large brokerages take private insurance from Securities Investor Protection Corporation (SIPC) – to cover some risks (not investment loss risk though). In case of losses due to severe malpractice, the only recourse is legal action (sueing the brokerage, usually class action by lawers who specialize in securities fraud law)
see http://www.finra.org/InvestorInformation/InvestorProtection/SIPCProtection/index.htm
for SIPC insurance offered by FINRA (Financial Industry Regulatory Authority, Inc.)
Participantaccounts with a broker
The government has nothing to do with it. Many times, large brokerages take private insurance from Securities Investor Protection Corporation (SIPC) – to cover some risks (not investment loss risk though). In case of losses due to severe malpractice, the only recourse is legal action (sueing the brokerage, usually class action by lawers who specialize in securities fraud law)
see http://www.finra.org/InvestorInformation/InvestorProtection/SIPCProtection/index.htm
for SIPC insurance offered by FINRA (Financial Industry Regulatory Authority, Inc.)
ParticipantWell, they are counting that 1 acre of land is worth most of that money. It is more like Half a Mil. for land and $190K for the shack. But I think even that (land price) is outrageous by (at least) a factor of 2.
ParticipantWell, they are counting that 1 acre of land is worth most of that money. It is more like Half a Mil. for land and $190K for the shack. But I think even that (land price) is outrageous by (at least) a factor of 2.
ParticipantWell, they are counting that 1 acre of land is worth most of that money. It is more like Half a Mil. for land and $190K for the shack. But I think even that (land price) is outrageous by (at least) a factor of 2.
ParticipantFDIC is really just an agreement
Not true. FDIC is pretty much a guarantee from Federal Government. If the funds run out, they will be replenished by taxpayers. It happened in the 1980s with FSLIC. FSLIC ran out of funds, it was closed down and the obligations were assumed by FDIC.
ParticipantFDIC is really just an agreement
Not true. FDIC is pretty much a guarantee from Federal Government. If the funds run out, they will be replenished by taxpayers. It happened in the 1980s with FSLIC. FSLIC ran out of funds, it was closed down and the obligations were assumed by FDIC.
ParticipantFDIC is really just an agreement
Not true. FDIC is pretty much a guarantee from Federal Government. If the funds run out, they will be replenished by taxpayers. It happened in the 1980s with FSLIC. FSLIC ran out of funds, it was closed down and the obligations were assumed by FDIC.
Participantrb_engineer,
The credit crunch, its impact on home buying, bankruptcies of mortgage lenders with attendent unemployment of thousands, distress among home builders etc., are all strong indicators of downturn. But when the largest low end retailer has problem meeting expectations, I think we are in severe distress. What you are seeing is the result of households running out of spendable cash flat out. Obviously, it will take a while to restore normal spending pattern again. Since consumer spending is 2/3 of economy, the jump from Wal-Mart’s distress to general Economic distress is pretty easy. I am fairly confident in predicting a recession before middle of 2008.
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