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Author Topic: What's wrong?  (Read 1535 times)
Jerrymac
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« on: October 03, 2008, 01:09:36 PM »

I just don't get what everybody is saying. Around here there is a lot of construction going on. New businesses, huge apartment buildings, and houses being built all over the place. I see "NOW HIRING" signs all over the place. Not a hint of any gas shortage. In fact the prices have dropped a couple of days in a row.

I must live on a different planet.

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reinbeau
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« Reply #1 on: October 03, 2008, 02:57:20 PM »

Fear mongering.  That way they get their bailout.  Unfrickinbelieveable.
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Keith13
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« Reply #2 on: October 03, 2008, 03:07:41 PM »

I agree the help wanted adds in the paper are 6 pages long. My company has had its best quarter ever, stock up 30% this year. housing cost holding steady

I just don't believe it.
But, I hear people in my office running around saying the sky is falling. I just do not understand it makes you just want to grab them and shake them untill they see the light

Keith
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EasternShore
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« Reply #3 on: October 03, 2008, 04:21:10 PM »

I agree!!  That's all I seem to hear these days, "The sky is falling."  There are jobs out there even for those who may have lost their jobs due to cutbacks.  They just might not make as much as they used to do.  As far as the whole loan/mortgage thing, if standards had been kept where they should have been all along regarding credit scores and lending, then those who qualify would still be getting loans.  Giving loans to people knowing that they probably can't afford the payments is just setting yourself up to lose money.

I am wondering what's going to happen now that they passed that bill.  I am very skeptical about the whole thing.  I just KNEW they were going to slip earmarks in that thing.  Grrrrr..... angry angry angry angry angry

UNFRICKINBELIEVABLE is right!   huh

Becky
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Frantz
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« Reply #4 on: October 03, 2008, 04:52:34 PM »

I agree, housing is down no question about that. I am a developer and it is way down!!!! But you survive you know. You just do what you have to. Last year I was a big time developer the coolest of the cool. This year I am a trac hoe driver and I do all my own work to stay alive. No big deal. The problem comes when you get guys that got a job with one of these banks out of college and been there 10 years and now that they have been laid off, they don't know what to do other than sit there and ball!!! Nobody ever taught them how to get a job. I have been self employed forever. I basically have to get a new job every couple of months so its no big deal. But there are a lot out there that just don't know how to do that.
I think they should make public the guys/gals that filled that bailout bill with "PORK" and we should demand their resignation. Imediately!!! I don't care if you are Rep, or Dem, to have put earmarks in that bill was disgusting. We need to take our government back!! No proffesional politicians!!
The sky is not falling but we do need the prop up to keep the credit market open. However if managed right, we will need less than $80 Billion to do that. We just need a few quarts of oil to keep the engine from siezing. Thats all.
Just my .02
F
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EasternShore
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« Reply #5 on: October 03, 2008, 05:19:58 PM »

Ya know Frantz, I doubt those of us with some common sense would disagree with what you said about needing $80 billion, not $700 billion!!   Where is this money coming from?Huh??   That's what I would like to know.  One of Mark's clients pointed out that if the rest of the world doesn't believe that our government can back that money up they're going to start bailing out on us!  She used to work for some world bank.  She basically said do we even have the gold to back up all this money they're getting ready to sign away?  I seriously doubt it.  It's like the government is counterfeiting money.  That's what it seems like to me anyway.

Grrrrrr........ angry
Becky
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reinbeau
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« Reply #6 on: October 03, 2008, 05:26:30 PM »

Becky, your friend is right.  Nixon took us off the gold standard.  Our money is just paper.  Oh yea, backed up by our wonderful economic system.  Ya.
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Frantz
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« Reply #7 on: October 03, 2008, 05:30:15 PM »

Becky, you are soooo right, especially about the world bank. I was meeting with WB a few months back in Moscow and the WB was deflating our dollar heavily back then based on the fact that our government just prints money when it needs it. So we had to rework all our numbers and our projections into Euros. Which was a bummer as dollars to euros is not a good calc. It is good now that we are making euros though and trading them for dollars... That was my first rodeo over in eastern Europe, and it was an eye opener. I have done a lot in Asia where they love Americans, but this was the first deal in Europe for me and it was tough to get the feeling that they didn't trust us. (our money anyways) It was one thing while we were in Russia, (You can't blame them for not trusting us) But the rest of Europe was untrusting as well. That was hard. Didn't I hear Mark say that you speak Russian?? How is that, birth, study, peace mission? How did that come about?? I speak Japanese well, and I am working on Russian and Armenian now....
F
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« Reply #8 on: October 03, 2008, 05:41:01 PM »

Just on a sad note the house passed the bailout voted 263-171 to approve.

http://www.reuters.com/article/vcCandidateFeed7/idUSN0335059120081003


Sincerely,
Brendhan

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« Reply #9 on: October 03, 2008, 05:50:25 PM »

There was a movie a few years back called Inc. with Jane Seymore, Danny Devito, and Judge Reinhold. It wasn't a popular movie but under the brash comedy was a very honest dark truth. The movers know first.

I fit in there despite my being an electrician. Because I make money when they build offices, move offices or close offices.

And I have to admit I am foaming at the mouth. There is a fortune to be made by me in this economic situation. AIG's misery is my profit margin. I am the shark waiting for the bodies of the cast offs. I get their old equipment and erase it, ship it, or dump it. And I charge for it. So the collapse is fine by me.

Now for the reality. There are still companies growing, they all now want the work done for dime because budgets are tight. So they are trying to squeeze people like me because of the economic situation. What has happened is banks aren't going to be as quick to lend money. So companies that exist on revolving credit are going to be see shortages. The problem is they may have lots of work but no capitol to finance it.

I am not real worried. I just find other ways to be a greedy bastard.....er... I mean good business man.

I have been through several very real construction recessions this right now is not one. It may become one but right now I have work. And there are a ton of cut outs to do also.  afro

Sincerely,
Brendhan

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Wes Sapp
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« Reply #10 on: October 03, 2008, 06:01:12 PM »

I just don't get what everybody is saying. Around here there is a lot of construction going on. New businesses, huge apartment buildings, and houses being built all over the place. I see "NOW HIRING" signs all over the place. Not a hint of any gas shortage. In fact the prices have dropped a couple of days in a row.

I must live on a different planet.


It's a scare tactic used by the lame stream media designed to show people that we need "change and hope."
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Wes Sapp
EasternShore
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« Reply #11 on: October 03, 2008, 06:51:00 PM »

Frantz: 

I studied Russian in the military.  There's a huge Russian community over here on the Eastern shore of Maryland.  The first time I heard a native speaking Russian in Kmart my head whipped around.  I remember thinking, "How cool!"  It's come in handy from time to time.  My ex is also a Russian linguist.  When the kids were younger we would speak in Russian so they didn't know what we were saying.... the devious parents that we are.  evil

Becky
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Brian D. Bray
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« Reply #12 on: October 06, 2008, 09:09:17 PM »

Becky, your friend is right.  Nixon took us off the gold standard.  Our money is just paper.  Oh yea, backed up by our wonderful economic system.  Ya.

Re-read your history, it was FDR in order to spend us out of the Great Depression.

In today's world over 50 percent of the money (worldwide) exists only as computer data.
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reinbeau
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« Reply #13 on: October 07, 2008, 07:51:32 AM »

Becky, your friend is right.  Nixon took us off the gold standard.  Our money is just paper.  Oh yea, backed up by our wonderful economic system.  Ya.


Re-read your history, it was FDR in order to spend us out of the Great Depression.

In today's world over 50 percent of the money (worldwide) exists only as computer data.


My reading of history is fine, Brian.  FDR outlawed private owning of gold in 1933.  Nixon ended the Bretton Woods System, which effectively removed the gold standard from backing US currency, in 1971.

Quote
"The Bretton Woods system ended on August 15, 1971, when President Richard Nixon ended trading of gold at the fixed price of $35/ounce. At that point for the first time in history, formal links between the major world currencies and real commodities were severed". The gold standard has not been used in any major economy since that time.


Sourced from this link although I'd heard it a few years back.
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