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| The economy, is it good or bad. (Page 2/181) |
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Raydar
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JUL 27, 07:04 PM
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I just wonder what the next "fad investment" is going to be.
The telecoms/dotcoms were the darlings of the 90s, based entirely on speculation and helped by the ease of online trading.
Everyone was dumping money into dotcoms, knowing that they were way overblown, based solely on the premise that they would be able to unload them before the industry reverted to its "true" value. After that bubble burst, it took a good 5 or so years for the telecom industry (the backbone of the dotcoms) to recover, on its own merits.
Real estate was the darling of this decade. Of course, that was "helped" by the moronic lending practices. Now, the borrowers (at least the late-comers) have defaulted and are living in apartments along with the potential borrowers who are no longer eligible (I understand that rents are just skyrocketing) and the banks and mortgage companies are stuck with a pile of properties that they really don't know what to do with.
I wonder how long it's going to take for this market to return to "normalcy".
I'm sure you can add some insight, Todd.
Anyone want to speculate?
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Raydar
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JUL 27, 07:06 PM
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| quote | Originally posted by 84Bill:
Oh no.. the economy is fine... Just buy that new car, sofa and house and be sure to get long term loans... everything is fune... just fine.. |
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Funny that you should say that. I heard a 40 (or longer?) year mortgage advertised the other day.
If you can't pay for a house in 30 years or less, you've got too much house.
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fierobear
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JUL 27, 07:18 PM
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| quote | Originally posted by Frizlefrak:
We live pretty damn well here, and I think sometimes we Americans take that fact for granted and don't always appreciate just how well we have it. Even the poor here live pretty well compared to a lot of the world.
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Truer words were never spoken. It is especially disheartening when I see this "I hate America", self-loathing crap from a certain side of the politcal aisle. Gawd, what a waste of energy and effort.
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Red88FF
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JUL 27, 07:24 PM
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| quote | Originally posted by Raydar:
Funny that you should say that. I heard a 40 (or longer?) year mortgage advertised the other day.
If you can't pay for a house in 30 years or less, you've got too much house. |
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Yes I agree with that but most people do not ever take a home loan to term. It's just another way to let more people get into the market, which I see as good.
I suppose a lot of folks like to be in dept and get that write off and a 40 year mortgage would sure do that for ya BUT the way I see it is that I just can't eat that right off and I have to spend way more to get only a deduction from my earnings which I only pay a percentage of in tax. In fact we don't pay enough interest to get one. To me it is a loser.
We are trying to get our place paid off. It takes quite a bit of self control to not dip into the equity like everyone else we know does especially since we have a but load of equity that we did not pay anything for due to the massive increase in home values up here. I think we will be way better off in the long run this way.
The economy is cooking up here still.[This message has been edited by Red88FF (edited 07-27-2007).]
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ditch
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JUL 27, 07:24 PM
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| quote | Originally posted by 84fiero123:
What do you think?
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It really depends on how you look at it. My 401k and mutual funds are doing great thanks to the current market. Sure it lost over 300pts recently but in general it has grown significantly over the last few years. My funds have averaged over a 10% return since 2004. Also, I have a great job, so my answer would be that the economy is fine.
Most of the answers posted here are going to be propotional to the situation that person is in.
The undeniable fact is that the rich keep getting richer and the poor keep getting poorer in America. We have an over abundace of greed in this country. My company is a perfect example. We have posted record profits in the last 8 quarters, yet they've cut our 401k benefits twice this year because "we're moving toward a contribution that is in line with the industry". They've also done away with annual cost of living raises. They say it's because we're a "forward thinking company". Whatever, it's because someone higher up wants more $$$. How many million do they need? It's because I don't mean a damn to them and they just assume milk me for what I'm worth while they can. Recently they started a site in Asia where they can pay someone 1/2 as much to do what I do. Where do you think my job will be in 5 years? It is attitudes like the ones my company owners have that are destroying this place
This is what America is turning into. It has been going this route for the past 2 decades. I feel as if we're moving towards 2 countries in one....the rich and the poor with few in between.
So, as I said before, the answer to the question depends on who you ask.[This message has been edited by ditch (edited 07-27-2007).]
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ditch
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JUL 27, 07:26 PM
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| quote | Originally posted by Raydar:
Funny that you should say that. I heard a 40 (or longer?) year mortgage advertised the other day.
If you can't pay for a house in 30 years or less, you've got too much house. |
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I have heard of a 50 year mortgage in California....ugh.
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fierobear
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JUL 27, 07:36 PM
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| quote | | Originally posted by ditch:The undeniable fact is that the rich keep getting richer and the poor keep getting poorer in America. We have an over abundace of greed in this country. My company is a perfect example. We have posted record profits in the last 8 quarters, yet they've cut our 401k benefits twice this year because "we're moving toward a contribution that is in line with the industry". They've also done away with annual cost of living raises. They say it's because we're a "forward thinking company". Whatever, it's because someone higher up wants more $$$. |
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Why do you think companies exist? To make YOU rich? Think about that.
| quote | | How many million do they need? |
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How many millions would YOU take, if you had the chance?
| quote | | It's because I don't mean a damn to them and they just assume milk me for what I'm worth while they can. Recently they started a site in Asia where they can pay someone 1/2 as much to do what I do. Where do you think my job will be in 5 years? It is attitudes like the ones my company owners have that are destroying this place |
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Companies need work done, and you need a job. You do your job, they give you a paycheck. That's the only obligation either of you has to eachother.
Sorry for the "tough love" approach, but people need to have some perspective on why companies exist.
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ditch
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JUL 27, 07:44 PM
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| quote | Originally posted by fierobear:
Why do you think companies exist? To make YOU rich? Think about that.
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I never said or implied that, so I don't need to think about that. I don't expect them to make me rich. I just expect them to treat their workers with respect....not a big request there.
| quote | Originally posted by fierobear:
How many millions would YOU take, if you had the chance?
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none, I have character and would never turn on those who helped me build something....no matter how much $$$ I was offered. There is way more to life than cash. I don't need $1500 shower curtains to feel good about myself
| quote | Originally posted by fierobear:
Companies need work done, and you need a job. You do your job, they give you a paycheck. That's the only obligation either of you has to eachother.
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I understand, but that doesn't mean I have to respect a place that would build itself using the blood and sweat of an american worker just to sell them down the river so the board of directors can each buy a 5th beachhouse in the bahamas. They have every right to do that but look what is left behind when they leave.
As an american, I believe I have a moral obligation to do the right thing in these circumstances....or, I could be a heartless and selfish POS.[This message has been edited by ditch (edited 07-27-2007).]
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DL10
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JUL 27, 07:48 PM
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| quote | Originally posted by ditch:
It really depends on how you look at it. My 401k and mutual funds are doing great thanks to the current market. Sure it lost over 300pts recently but in general it has grown significantly over the last few years. My funds have averaged over a 10% return since 2004. Also, I have a great job, so my answer would be that the economy is fine.
Most of the answers posted here are going to be propotional to the situation that person is in.
The undeniable fact is that the rich keep getting richer and the poor keep getting poorer in America. We have an over abundace of greed in this country. My company is a perfect example. We have posted record profits in the last 8 quarters, yet they've cut our 401k benefits twice this year because "we're moving toward a contribution that is in line with the industry". They've also done away with annual cost of living raises. They say it's because we're a "forward thinking company". Whatever, it's because someone higher up wants more $$$. How many million do they need? It's because I don't mean a damn to them and they just assume milk me for what I'm worth while they can. Recently they started a site in Asia where they can pay someone 1/2 as much to do what I do. Where do you think my job will be in 5 years? It is attitudes like the ones my company owners have that are destroying this place
This is what America is turning into. It has been going this route for the past 2 decades. I feel as if we're moving towards 2 countries in one....the rich and the poor with few in between.
So, as I said before, the answer to the question depends on who you ask.
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I agree with you 100%......would you mind sharing what your company does and if it's a union workforce or not.
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ditch
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JUL 27, 07:53 PM
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| quote | Originally posted by DL10:
I agree with you 100%......would you mind sharing what your company does and if it's a union workforce or not. |
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Would be glad to. I am a chemist in the pharmaceutical industry. We do contract work for pharmaceutical companies. We are involved in about every step of the drug development process....from preparing the drug substance to making it work in the human body. We are non union.[This message has been edited by ditch (edited 07-27-2007).]
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