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Old 05-13-2010, 12:37 PM
 
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,950,703 times
Reputation: 4258

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I read where the banks are starting to loan out more money again in the Kiplinger letter, another sign the economy is getting better. And personally I can attest to that as I was approved for a home equity line of credit. So IMO this is just one more piece of the puzzle coming together as the recovery gets into full swing.

 
Old 05-13-2010, 05:43 PM
 
Location: Colorado Springs, CO
2,221 posts, read 4,735,461 times
Reputation: 1696
Quote:
Originally Posted by CosmicWizard View Post
hey Bob...I clicked on the link to read the article, but the body of the page is blank. There's nothing to read. Maybe they are being so frugal, that they are writing articles without words.
Yeah, that electronic ink is 'spensive stuff. Sometimes when the scripts that run to display ads don't work right that happens. So look on the bright side...you didn't get the ads either!

I just tried it and it worked...
 
Old 05-13-2010, 05:50 PM
 
Location: Colorado Springs, CO
2,221 posts, read 4,735,461 times
Reputation: 1696
Quote:
Originally Posted by Josseppie View Post
I read where the banks are starting to loan out more money again in the Kiplinger letter, another sign the economy is getting better. And personally I can attest to that as I was approved for a home equity line of credit. So IMO this is just one more piece of the puzzle coming together as the recovery gets into full swing.
This strikes me like gleefully announcing to the world that you've been pre-approved to be burglarized.



I fail to understand why anyone would think that a bank allowing them to hoc their house is somehow a good thing.



The Black Hole Proposition:
The solution to too much debt is more debt
Just like the solution to too much gravity is more gravity
 
Old 05-13-2010, 09:21 PM
 
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,950,703 times
Reputation: 4258
Quote:
Originally Posted by Bob from down south View Post
This strikes me like gleefully announcing to the world that you've been pre-approved to be burglarized.



I fail to understand why anyone would think that a bank allowing them to hoc their house is somehow a good thing.



The Black Hole Proposition:
The solution to too much debt is more debt
Just like the solution to too much gravity is more gravity
My point is the banks are starting to lend again as I do not think I could of got the loan a few months ago.
 
Old 05-14-2010, 08:39 AM
 
Location: Wherabouts Unknown!
7,764 posts, read 16,834,005 times
Reputation: 9316
Hey Bob...the link is working today. Good article. Here's a brief quote that sums up the good news very nicely.
Yet many who became penny-pinchers during the recession are in no mood to start shopping again with abandon for clothes, cars and home additions. They've discovered the PEACE OF MIND that comes with rebuilding savings, shopping more prudently and learning to live with less.

More people having PEACE OF MIND will hopefully result in more peace and less war.
 
Old 05-14-2010, 09:46 AM
 
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,950,703 times
Reputation: 4258
Quote:
Originally Posted by CosmicWizard View Post
Hey Bob...the link is working today. Good article. Here's a brief quote that sums up the good news very nicely.
Yet many who became penny-pinchers during the recession are in no mood to start shopping again with abandon for clothes, cars and home additions. They've discovered the PEACE OF MIND that comes with rebuilding savings, shopping more prudently and learning to live with less.

More people having PEACE OF MIND will hopefully result in more peace and less war.
I agree that Coloradoan's should save more and shop more prudently. However, learning to live with less is a feel good statement that makes no sense to me. As long as people live with in their budget there is nothing wrong with trying to better themselves so they can acquire things that they feel would make their life more interesting.
 
Old 05-14-2010, 10:07 AM
 
Location: Wherabouts Unknown!
7,764 posts, read 16,834,005 times
Reputation: 9316
Josseppie wrote:
there is nothing wrong with trying to better themselves
I agree, but buying things and having more stuff is NOT bettering oneself. Bettering onseself is an inside job. I'm not saying that having stuff and owning stuff is a bad thing...but it has niothing to do with bettering oneself. Improving ones net worth perhaps, improving ones material comfort level, but certainly not bettering oneself.
 
Old 05-14-2010, 12:57 PM
 
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,950,703 times
Reputation: 4258
Quote:
Originally Posted by CosmicWizard View Post
Josseppie wrote:
there is nothing wrong with trying to better themselves
I agree, but buying things and having more stuff is NOT bettering oneself. Bettering onseself is an inside job. I'm not saying that having stuff and owning stuff is a bad thing...but it has niothing to do with bettering oneself. Improving ones net worth perhaps, improving ones material comfort level, but certainly not bettering oneself.
That is a personal opinion and I respect it but for some Coloradoan's being able to afford trips to Europe, a larger house, going out to eat at nice restaurants etc., makes life more fun and that is one of their goals. IMO there is nothing wrong with that as that helps the Colorado economy grow as they spend money.
 
Old 05-14-2010, 01:10 PM
 
Location: Colorado Springs, CO
2,221 posts, read 4,735,461 times
Reputation: 1696
Quote:
Originally Posted by Josseppie View Post
That is a personal opinion and I respect it but for some Coloradoan's being able to afford trips to Europe, a larger house, going out to eat at nice restaurants etc., makes life more fun and that is one of their goals. IMO there is nothing wrong with that as that helps the Colorado economy grow as they spend money.
"Onward, fellow lemmings!" he cried. "To the Sea!!!"

Millions of American debt slaves thought they could "afford" lavish european vacations, boats, expensive vehicles, etc by going to the HELOC home ATM and placing their home at risk by borrowing against it for those things.

And lots of those people are losing, or in danger of losing, those same houses today. A home equity line of credit is not, as the thieving bankers would have you believe, "tapping into the equity in your house," as if it were some sort of bank account. No, it's borrowing more money from those bankers...more often than not for nonessentials...and using one's house as the collateral.

There actually is something very wrong with that, and one needn't look far at all to see the damage it causes. That damage is not the stuff economic recovery is made of. This is just the illusion of wealth, and when that illusion is stripped away, as it eventually must be, it leaves a trail of wreckage in its wake. I, for one, think we've had enough of that insanity already 'round these parts.


Consumption using borrowed money is EVIL
 
Old 05-14-2010, 01:30 PM
 
5,748 posts, read 10,738,951 times
Reputation: 4502
On a personal note...

Nice raise for our family this year and employer's stock is trending up, which will give us a healthy return this coming week when we plan to sell some options. Sales goals exceeded expectations by a comfortable margin, so bonuses were generous. Spouse has received cold calls from head hunters several times over the past couple of months. I'm cautiously optimistic.
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