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Old 05-21-2010, 08:21 AM
Location: Wherabouts Unknown!
7,764 posts, read 16,834,005 times
Reputation: 9316


sterlinggirl wrote:
House prices crashing is a good thing too. I wouldn't mind losing half my equity to get our nation back to the point where one income could buy a house.
That's a matter of opinion! While I sincerely admire your willingness to sacrifice your own financial well being for the good of the country, I'm guessing that most of us with equity in our homes are not as pleased about House prices crashing as you are. I can say with certainty, that I don't like it one bit. I'd much rather watch the value of my home increase. I call myself the CosmicWizard, but I am admittedly not a financial wizard, yet I somehow ( VA loan ) managed to buy a home with no money down, no money in the bank, on just one salary back in '90. Then I watched it triple in value during the next 15 years. If a financial dim wit like me can pull it off, those with just a tad of financial savvy can pull it off too. I'm as greedy as the next guy when it comes to protecting what little wealth I've managed to accummulate. But you have risen above the greed menatlity, and I salute you!

Old 05-21-2010, 09:28 AM
Location: Pueblo - Colorado's Second City
12,173 posts, read 20,950,703 times
Reputation: 4258
Default Financial Stocks Turn Higher After Senate Passes Reform Bill

Originally Posted by wanneroo View Post
Well you haven't seen the headlines out for tomorrow in Europe, "Great Depression 2". "The credit crunch of 2008 returns".

From the gubmint #'s I saw unemployment is getting worse.

I am optimistic once the government and public clean up their act things will get better. Right now is more of stupid going on. And I have to live in the reality things are not getting better.
No but I did see the headline in the Wall Street Journal.

The article from the Wall Street Journal:

NEW YORK (Dow Jones)--Financial stocks turned higher Friday as some uncertainty was removed with the U.S. Senate's passage of its version of a financial-overhaul bill, though investors are still concerned about what the final bill will include and continue to grapple with ongoing fears about the debt crisis in Europe.

The link: Financial Stocks Turn Higher After Senate Passes Reform Bill - WSJ.com (http://online.wsj.com/article/BT-CO-20100521-708184.html - broken link)

Now I am not sure if the market will stay up the rest of the day but the fundamentals of the U.S. and Colorado economy are still on the right track, in fact I have seen the term correction being used to help describe what happened. That is why with the stock market you can't get too happy when there is a big one day gain or too depressed when there is a one day loss as its based on a trend and that is up and should remain so for the rest of the year.
Old 05-21-2010, 09:53 AM
Location: Wherabouts Unknown!
7,764 posts, read 16,834,005 times
Reputation: 9316
I stand by my usual retort to ALL economic predictions wether optimistic of gloomy....WE'LL SEE!
Old 05-21-2010, 10:17 AM
20,836 posts, read 39,041,284 times
Reputation: 19042
Originally Posted by CosmicWizard View Post
I stand by my usual retort to ALL economic predictions wether optimistic of gloomy....WE'LL SEE!
That's a perfect punctuation point to end this thread. It has degenerated into an endless "blue sky" vs "stormy weather" bickering over every silly indicator or anecdotal evidence, and has gotten FAR away from the topic of Colorado. People see what they want in any set of stats, no one is convincing anyone and there really is no answer to the OP's question, i.e., Is Colorado Coming Out of Recession?

Standard technical indicators from the NBER indicate that the NATION is not in recession, but realities across 50 states and thousands of business lines will always vary from point to point. As usual, the Wiz said it best when he said "we'll see."
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