I was right!!!!!

[Stac2007]

Originally Posted by LoveDaApple

Everything in America is on credit. That is the problem. People spend more than they make. It is both peoples fault and the stores fault for prices. Ive lived in a few cities, miami, NY, DC, philly, ATL and I was amazed at how many people have such nice cars while so young. BMWs Benzes while 20s or younger. It just amazed me, I kept wondering where is all this money coming from and I thought they must have really good credit or something.

Very few twenty year olds drive BMW's but many have suffered from job out sourcing over the past twenty years. People have been supplementing credit for cash because of the loss of good paying jobs which used to provide a living wage. The credit bubble finally burst. Homes were well over valued and banks created mortgages to keep the market alive and profitable. Reality has now come to play on the U.S. market. Gone are the days of easy credit. So with it the U.S economy?

[normanguy45]

When the Dow hit 14,000 last fall, I got all my money out of stocks. It was easy to see this financial mess was coming. I feel sorry for the people who listened to the pump monkeys on CNBC and the buy and hold crowd. You listen to those people and you will lose. With the Dow in the 8,000s, perhaps it's the time to start some buying. But with so much more bad news on the horizon, there's more room for the markets to fall before hitting the bottom.

[scuba steve]

Hey, didn't real estate values in Orange County start turning down around September 2006? That entry is from April 2007. I thought the peak was in summer '06.