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09-02-2007, 06:21 PM
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Senior Member
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Join Date: Jul 2007
476 posts, read 654,280 times
Reputation: 78
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Don't Move To Chicago Or Anywere Else
Dear Friends:
In the past, I have been accused of repetion, weariness, boredom or too many negative comments. So I present you the following comments from the Chicago Tribune Business section. All of these appear on page 3, Sunday, Sept. 2, 2007 of the Business section in the Chicago Tribune.
1. Given the tightening in underwriting standards and the credit freeze, its going to be very difficult for buyers to purchase homes. 2. But prices seem ridiculously high (DuPage County, IL) for what I think are just regular houses.
3. It goes in and then it goes out to the family. 4. The worst is yet to come. If Eddie Lampert's strategy is right then Wal-Mart's wrong. Target's wrong. Limited is wrong. Every great retailer in the history of America is wrong. My comment: I think he is talking about Keynesian Economics(?). 5. It is not the responsibility of the Federal Reserve - - nor would it be appropriate - - to protect lenders and investors from the consequences of their financial decisions.
So these are statements by recognized experts in their own field. My opinion - - the opinion of Howell_Street - - is to stay put where ever you are so you don't lose your financial shirt. To reiterate, I only repeat the ideas of comments published in the Chicago Tribune Business section of today. However, since I am a very old timer and have observed my folks recover from the great Depression - - I agree with thes comments even though they are very scary !
Carter Glass
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09-04-2007, 06:04 AM
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There's beauty in the solace of not giving a damn.
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Join Date: Nov 2006
Location: Chicago
16,206 posts, read 12,584,601 times
Reputation: 4564
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09-10-2007, 01:43 PM
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Junior Member
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Join Date: Aug 2007
6 posts, read 7,689 times
Reputation: 10
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Housing
Well, it's a sound advice. Nothing short of Great Depression is upon us. Wishful thinking is not going to change anything. Some people just see it before others do.
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09-10-2007, 01:44 PM
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There's beauty in the solace of not giving a damn.
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Join Date: Nov 2006
Location: Chicago
16,206 posts, read 12,584,601 times
Reputation: 4564
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Yeah, I saw that soup line winding around the corner in front of my bus stop today. And I sure wish the cops would do something about all the vagrants living in that Hooverville in the park down the street. 
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09-10-2007, 01:48 PM
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Senior Member
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Join Date: Aug 2007
1,622 posts, read 1,536,008 times
Reputation: 379
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Quote:
Originally Posted by docent
Well, it's a sound advice. Nothing short of Great Depression is upon us.
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yea, ok
heres an idea: live within your means.
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09-10-2007, 02:31 PM
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Senior Member
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Join Date: Jul 2007
1,251 posts, read 1,229,358 times
Reputation: 204
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No doubt our country is in deep deep doo doo.
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09-10-2007, 02:37 PM
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Junior Member
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Join Date: Aug 2007
6 posts, read 7,689 times
Reputation: 10
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Quote:
Originally Posted by via chicago
yea, ok
heres an idea: live within your means.
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It's a great idea, unfortunately ignored by too many. Keeping up with the Joneses with a heavy use of plastic will come to a screeching end. BTW it was always my priority to save even a tiny bit from every paycheck. So old fashioned these days.
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04-24-2009, 10:07 AM
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Member
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Join Date: Jul 2008
Location: Houston, Tx. USA
24 posts, read 27,595 times
Reputation: 21
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I recieved a reply notification about another thread & this was listed at the bottom of the page as a similar thread.
Interesting to note the dates as a full year before the complete nosedive in the economy. Esp. interesting to see the comment about The Fed not bailing out (or - as written - "protecting") the lenders & investors, which of course is what happened.
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04-24-2009, 11:44 AM
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Senior Member
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Join Date: Apr 2008
5,886 posts, read 3,404,499 times
Reputation: 1628
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Every stopped clock has the correct time once a day 
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04-24-2009, 12:13 PM
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Senior Member
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Join Date: Apr 2008
Location: Arlington Heights, IL
1,268 posts, read 722,318 times
Reputation: 329
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Quote:
Originally Posted by docent
It's a great idea, unfortunately ignored by too many. Keeping up with the Joneses with a heavy use of plastic will come to a screeching end. BTW it was always my priority to save even a tiny bit from every paycheck. So old fashioned these days.
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Wow! Now thriftiness is cool.  Those of us who always strived to spend less than we earned are now smiling. Too bad so many are losing jobs and too bad our portfolios got soaked.
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