...or was that all gun, and no hat..... jeesh, I might be in t-r-o-u-b-
dyslexia wrote:There remains the possibility that Phil Gramm is correct in his labeling of "the whiners". However it was a stupid thing to say in support of Mccain winning an election.
My biggest concern re the economy right now is inflation, not recession.
dys, We already have inflation; wages have not kept up during the past six years, and whether you noticed it or not, fuel (oil from about $60/bbl to over $147/bbl) and food prices have jumped more than double-digit. That's inflation.
cicerone imposter wrote:dys, We already have inflation; wages have not kept up during the past six years, and whether you noticed it or not, fuel (oil from about $60/bbl to over $147/bbl) and food prices have jumped more than double-digit. That's inflation.
Um, yeah, Ok. Like i said above, I'm more concerned about inflation than I am about recession.
Hang onto your hat, because it's gonna get real bad; oil prices will continue to go up as well as our food prices.
The the depreciation of home values, many more families will be losing their homes; bankruptcies will trend upwards for another several years.
c. i. commenting on dys hat :
i bet dys' hat is worth a fortune - he'd better hang on to it . it ought to be worth at least twice as much as lennon's "give peace a chance " song sheet that just sold for $800,000 plus !
did anyone say there is a shortage of money ?
hbg
Quote:Montrealer sells Lennon's lyrics for over $800,000
Mike Boone, Canwest News Service
Published: Thursday, July 10
MONTREAL - Unlike many who were teenagers during the 1960s, Gail Renard can put a precise value on her memories of the turbulent decade: $800,000-plus.
That's how much the lyrics of Give Peace a Chance, handwritten by John Lennon, fetched Thursday at Christie's rock and pop memorabilia sale in London.
"Never in a million years did I think the lyrics would be this valuable," said Renard, reached by phone after the sale. "(Wednesday) night, I wondered whether it would sell at all.
link :
LENNON LYRICS
cicerone imposter wrote:Hang onto your hat, because it's gonna get real bad; oil prices will continue to go up as well as our food prices.
The the depreciation of home values, many more families will be losing their homes; bankruptcies will trend upwards for another several years.
Its nice of you to finally admit that nothing will get better if Obama wins the election.
Cycloptichorn wrote:http://money.cnn.com/2008/07/11/news/companies/indymac_close.ap/index.htm?postversion=2008071118
Quote:Banking regulators close IndyMac
The Office of Thrift Supervision shuts down mortgage lender IndyMac and transfers the operations to the Federal Deposit Insurance Corporation.
Last Updated: July 11, 2008: 6:59 PM EDT
LOS ANGELES (AP) -- IndyMac Bank succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures on Friday when banking regulators seized the mortgage lender's assets.
The Office of Thrift Supervision said it transferred IndyMac's (IMB) operations to the Federal Deposit Insurance Corporation because it did not think it could meet its depositors' demands.
Pasadena, Calif.-based IndyMac Bancorp Inc., the holding company for IndyMac Bank, has been struggling to raise capital as the housing slump deepens.
A spokesman for the lender did not immediately return an e-mail request for comment.
The banking regulator said it closed IndyMac after customers began a run on the lender following the June 26 release of a letter by Sen. Charles Schumer, D-N.Y., urging several bank regulatory agencies that they take steps to prevent IndyMac's collapse.
First Published: July 11, 2008: 6:44 PM EDT
Not good
Cycloptichorn
Also not good were some of the predatory lending practices and the sub-prime mortgages handed to minorities, when they were better than average/professionals, but were handed sub-prime mortgages, anyway!
Bail out? I should think, not, but like Bear Stearns, Bush will probably bail them out, too!
mysteryman wrote:cicerone imposter wrote:Hang onto your hat, because it's gonna get real bad; oil prices will continue to go up as well as our food prices.
The the depreciation of home values, many more families will be losing their homes; bankruptcies will trend upwards for another several years.
Its nice of you to finally admit that nothing will get better if Obama wins the election.
IMHO, they'll get WORSE, if McSame wins! NO win! :wink:
cicerone imposter wrote:Hang onto your hat, because it's gonna get real bad; oil prices will continue to go up as well as our food prices.
The the depreciation of home values, many more families will be losing their homes; bankruptcies will trend upwards for another several years.
Recession? NO! Depression!
Thanks, Texas/Bush, where EVERYTHING in America, has re-located!
Now with the run on banks and their stock prices losing double-digit losses in one trading day, it's no longer the non-recession most people talked about; we're headed into panic mode for most people holding bank stocks and money in the bank over $100,000. Any amount over that losses .50c on the dollar.
It's gonna be a tough period of insecurity for most holders of stock and money in the bank.
If there was ever a time when the feds should over-react; they should do it now. The small amount they budgeted to make liquidity available to banks is too small an amount; we're spending more on the war in Iraq, and it's about the security of our country. The consequences of fear on the part of people with money in the bank is gonna get real scary; that's my prediction.
Indy mac.
Some guy lined up outside the door (according to a a story on NPR this afternoon) at 4 am. He was able to withdraw $171,000 from his accounts.. Another $114,000 is frozen, uninsured by the FDIC, possibly lost. His life's savings from a blue collar job spanning decades of toil saving, not spending.
Sad, isn't it?
Execs at Indy and Fannie and Freddie got millions of dollars in salaries and bonuses and this guy gets potentially stiffed out of $114,000.
realjohnboy wrote:Indy mac.
Some guy lined up outside the door (according to a a story on NPR this afternoon) at 4 am. He was able to withdraw $171,000 from his accounts.. Another $114,000 is frozen, uninsured by the FDIC, possibly lost. His life's savings from a blue collar job spanning decades of toil saving, not spending.
Sad, isn't it?
Execs at Indy and Fannie and Freddie got millions of dollars in salaries and bonuses and this guy gets potentially stiffed out of $114,000.
And now you are deciding that those execs dont deserve what they got?
teenyboone wrote:mysteryman wrote:cicerone imposter wrote:Hang onto your hat, because it's gonna get real bad; oil prices will continue to go up as well as our food prices.
The the depreciation of home values, many more families will be losing their homes; bankruptcies will trend upwards for another several years.
Its nice of you to finally admit that nothing will get better if Obama wins the election.
IMHO, they'll get WORSE, if McSame wins! NO win! :wink:
IMHO, it will get WORSE, no matter who wins!
Global economy is like a swaying house of cards, and Katrina is coming for the second round. No president can turn the current house of cards into Fort Knox. No win.
If it's okay to be incompetent as our president, it should be okay to run a company down the sewer while getting those high salaries and bonuses. And while we're at it, they shouldn't have to pay income taxes on their largess.
Those poor saps losing their life savings in our banks deserve it; we still gotta pay those bonuses to the CEOs and their board of directors.
What a nation of whiners!
http://www.cnbc.com/id/5965849/for/cnbc/
Quote: Soaring costs for gasoline and food pushed inflation at the wholesale level up by a larger-than-expected amount in June, leaving inflation rising over the past year at the fastest pace in more than a quarter-century.
The Labor Department reported that wholesale prices jumped by 1.8 percent last month, the biggest one-month rise since last November. Over the past 12 months, wholesale prices are up 9.2 percent, the largest year-over-year surge since June 1981, another period when soaring energy costs were giving the country inflation pains.
10% in a year.
Cycloptichorn
Cycloptichorn wrote:What a nation of whiners!
http://www.cnbc.com/id/5965849/for/cnbc/
Quote: Soaring costs for gasoline and food pushed inflation at the wholesale level up by a larger-than-expected amount in June, leaving inflation rising over the past year at the fastest pace in more than a quarter-century.
The Labor Department reported that wholesale prices jumped by 1.8 percent last month, the biggest one-month rise since last November. Over the past 12 months, wholesale prices are up 9.2 percent, the largest year-over-year surge since June 1981, another period when soaring energy costs were giving the country inflation pains.
10% in a year.
Cycloptichorn
According to our government, we're still not in a "recession."
