[jjgold]

It's real bad

Nice job destroying Country Obama.

[Darkside Magick]

country is not destroyed...all this boogeyman talk!

sales was going to drop anyway because prices have been inflated for years...

[michael777]

Originally Posted by jjgold

It's real bad

Nice job destroying Country Obama.

and it is only going to get worse,much worse

[ByeShea]

Well, at least the health care reform will shrink the deficit while giving everyone free and improved health care... right?

Hello?

By the way, prices for used cars are up nearly 30% thanks to Cash-for-Clunkers supply annihilation.

GTFObama should retire now.

He's making George Bush look like George Washington - Dem loyalists might argue against this statement now, but they won't post-2010 electoral disaster.

Pelosi, you're fired.

[Dark Horse]

Wall Street people are manic depressives. Hold on to your money for a while, and buy stock dirt cheap at the end of the year.

[jjgold]

We are 2 years away from depression.

[tltaylor89]

9 trillion on the sidelines
.I want to buy about 5 homes at a 66% discount.

[Doug]

Originally Posted by jjgold

We are 2 years away from depression.

I think we have been in one for several years already, just doesn't fit the by the book definition by using altered gov't stats.

Houses won't sell because everybody is shacking up like Mexicans with 6-10+ people in a house.

For sale houses are everywhere. I have had one viewing in about 2 weeks+ on my place, I might burn it down if it wasn't a condo.

[Darkside Magick]

the market still aint bottom out yet...once that happen housing prices should rise in late 2014 - early 2015.....

[tltaylor89]

This is alot of peoples chances to become filthy rich.

[Darkside Magick]

Originally Posted by tltaylor89

This is alot of peoples chances to become filthy rich.

exactly!!!!!!!!!!!!!!

people talking recession and all that garbage...if you looking to get stanky paid..this one of the best time since the 80's!!!!!!!!!!!!!

[Darkside Magick]

people buying bulk reo's and selling them and getting 400,000 a deal...banks just want to get them off the books....people doing internet marketing from home making 250,000 ...

[Dark Horse]

Be cool when others panic. Wall Street is not the economy, but the US media make it out to be. Talk about sick gamblers. Give 'm a bit of good news and they'll fly high; tell 'm something bad and their life is in ruins.

I got a great deal on a house this month, and sold the other house last month... During 'the worst housing market in 15 years'. lol

[tltaylor89]

People keep reading into the home builders nothing but people covering their shorts because I was one of those people.

[swagger]

Its not so bad.. more chance to invest in properties worth pennies now and sell it in a few years for allot more

[saintjames]

who has the finances to buy a home anymore?

[jbrent95]

I'm a home builder in central Texas, and business is fairly good. Last year, I bought bunches of lots from publicly traded home builders in various fire sales.

[Darkside Magick]

Originally Posted by saintjames

who has the finances to buy a home anymore?

people have money....i go all over los angeles and people is not hurting.. in fact people is actually getting more money.. alot of what u seeing is a correction ..not a recession..

[tltaylor89]

I can get 5 $120,000 for $55,000 In great neighborhoods there are deals to be had

[Doug]

The problem is that the Middle Class is basically gone.

few semi-skilled jobs where a guy might make 50k in something like manufacturing.

The middle class is now more like the lower middle class or upper poor class. The poor class is growing with people making 25k or less. Tough to buy a house making crap money.

The only growth I can see is at the lowest end of the housing market for homes of maybe 50-150k ( depending on area), these can possibly be afforded by a working young couple with no kids. The 250-500k homes will be tougher and the mortgage will be really hard.

Not everyone is a doctor, lawyer, etc.

Most former US jobs can be done in another country for less, and that won't change. So little is made here anymore. Places like China get closer to equal to us daily.

[Doug]

Originally Posted by tltaylor89

I can get 5 $120,000 for $55,000 In great neighborhoods there are deals to be had

A 120k ( once) for 55k is no longer a 120k home, it's a 55k home.

[necro]

it's not Obamas fault, it's fault of religion!

[pavyracer]

Originally Posted by jjgold

It's real bad

Nice job destroying Country Obama.

Shouldn't you be buying houses now they are dirt cheap?

[tltaylor89]

Originally Posted by Doug

A 120k ( once) for 55k is no longer a 120k home, it's a 55k home.

Some of these owners are desperate they offered the home fully furnished plus they would pay the utility bill for 3 months.

[capitalist pig]

I think its going to get worse before it gets better, there are just to many things wrong with this country at the moment,JMO.

later

[hugh_morris]

stay tuned...get ready to open up the wallets fellas( and ladies)...when the double dip hits...the market will be flooded with deals..buy up a couple properties...then dump em' in about 5 years...did it back in 98' and did alright...and i'm prepared again...Good luck in all your endeavors fellow posters...

[Brock Landers]

Originally Posted by jjgold

It's real bad Nice job destroying Country Obama.

yeah, its all his fault, nothing to do with anything that happened prior to Jan 2009 LOL

get a clue

[Reno Paul]

It's been a rough year, but I made it.


But not everyone is as lucky as I am......

The economy is so bad that I got a pre-declined CC in the mail.

I ordered a burger at McDonald's, and the kid behind the counter asked, "Can you afford fries with that?"

CEO's are now playing miniature golf.

If the bank returns your check marked "Insufficient Funds," you have to call them and ask if they mean you or them .

Hot Wheels and Matchbox stocks are trading higher than GM.

McDonald's is selling the 1/4 'ouncer'.

Parents in Beverly Hills and Malibu are firing their nannies and learning their children's names.

A truckload of Americans was caught sneaking into Mexico .

Dick Cheney took his stockbroker hunting.

Motel Six won't leave the light on anymore.

The Mafia is laying off judges.

Exxon-Mobil laid off 25 Congressmen.

Congress says they are looking into the Bernard Madoff scandal. Oh Great!! The guy who made $50 Billion disappear is being investigated by the people who made $1.5 Trillion disappear !

And, finally...

I was so depressed last night thinking about the economy, wars, jobs, my savings, Social Security, retirement funds, and our bleak future, that I called the Suicide Lifeline and was connected to a call center in Pakistan . When I told them I was suicidal, they got all excited, and asked if I could drive a truck.

[tltaylor89]

The Clinton surplus is a thing of the past.1nuclear bomb would have brought peace to the Middle East.

[Doug]

Originally Posted by Reno Paul

It's been a rough year, but I made it.


But not everyone is as lucky as I am......

The economy is so bad that I got a pre-declined CC in the mail.

I ordered a burger at McDonald's, and the kid behind the counter asked, "Can you afford fries with that?"

CEO's are now playing miniature golf.

If the bank returns your check marked "Insufficient Funds," you have to call them and ask if they mean you or them .

Hot Wheels and Matchbox stocks are trading higher than GM.

McDonald's is selling the 1/4 'ouncer'.

Parents in Beverly Hills and Malibu are firing their nannies and learning their children's names.

A truckload of Americans was caught sneaking into Mexico .

Dick Cheney took his stockbroker hunting.

Motel Six won't leave the light on anymore.

The Mafia is laying off judges.

Exxon-Mobil laid off 25 Congressmen.

Congress says they are looking into the Bernard Madoff scandal. Oh Great!! The guy who made $50 Billion disappear is being investigated by the people who made $1.5 Trillion disappear !

And, finally...

I was so depressed last night thinking about the economy, wars, jobs, my savings, Social Security, retirement funds, and our bleak future, that I called the Suicide Lifeline and was connected to a call center in Pakistan . When I told them I was suicidal, they got all excited, and asked if I could drive a truck.

Good Stuff !

[Doug]

Originally Posted by tltaylor89

The Clinton surplus is a thing of the past.1nuclear bomb would have brought peace to the Middle East.

and started WW3 ( the really big one) !

[MC PICKS]

Obama is a trainwreck.

[Reno Paul]

Economy Caught in Depression, Not Recession: Rosenberg


Published: Tuesday, 24 Aug 2010 | 11:23 AM ET



By: Jeff Cox
CNBC.com Staff Writer





Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.

Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains.
But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg.
Rosenberg calls current economic conditions "a depression, and not just some garden-variety recession," and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered "euphoric response."
"Such is human nature and nobody can be blamed for trying to be optimistic; however, in the money management business, we have a fiduciary responsibility to be as realistic as possible about the outlook for the economy and the market at all times," he said.
The 1929-33 recession saw six quarterly bounces in GDP with an average gain of 8 percent, sending the stock market to a 50 percent rally in early 1930 as investors thought the worst had passed.
"False premise," Rosenberg said. "And guess what? We may well be reliving history here. If you're keeping score, we have recorded four quarterly advances in real GDP, and the average is only 3%."


Rosenberg's warning comes as a slew of major analysts—Goldman Sachs and JPMorgan among them—have slashed GDP projections for 2010 to the 1.5 to 2 percent range.
Chicago Federal Reserve President Charles Evans said in a speech Tuesday that the risk of a double-dip recession has escalated. He said government programs to help distressed homeowners have been ineffective and aren't helping the pivotal housing sector recover.
The dour outlooks come on the same day that the National Association of Realtors said home sales reached a 15-year low in June, dousing hopes that the industry had reached a bottoming point.
Rosenberg points out that the "overall economic malaise" has come despite aggressive efforts by the Federal Reserve to stimulate the economy through rate cuts. The central bank itself has scaled back its economic projections, has held steady on its balance sheet, and could be announcing another round of quantitative easing measures at its Jackson Hole summit this week.
"How's that for a reality check," Rosenberg said. "It's not too late, by the way, to shift course if you have stayed long this market."

[mmike032]

Originally Posted by Darkside Magick

country is not destroyed...all this boogeyman talk!

sales was going to drop anyway because prices have been inflated for years...

yep, its a cycle.
quit listening to the media.
work has picked up here.
new houses going up again

[Darkside Magick]

how do a recession and/or depression have positive quarterly GDP

i thought a recession was 2 negative quarters of growth