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Agreed, nevertheless much of business today depended on those stupid Americans and their credit card-SUV mindset. And companies and entire cities and states thathave depended on easy credit for many years.
Most definitely.....but the problem beyond that is that the issue is being flamed by the media spouting doom and gloom. People can still go out and make purchases, they just need to be wise doing it. The domino effect of telling people if they spend everything is going to go the hell is that people STOP spending and everything goes to hell. It's like Oil speculators....you tell people oil will be at $150 per barrel next week...and today it's at $125...well then people are going to buy to get those gains, demand will go up and so will price.......self fulfilling prophecy.
Americans aren't going broke...stupid Americans are. Those that chose ARMs, those that chose Interest Only Loans, those that chose to live beyond their means through credit, those that bought homes for investments and not for homes, those who feel the need to have big hulking SUVs just because they are big hulking SUVs.....those are the people crying. Not me. I am crying because too many people see this as a crash and not a reset of an economy that got too fat too fast. It's back to reality people.
I'm one of the lucky ones who can afford to fill my compact size car with $65 worth of gas. Not just last year I used to pay around $40 to fill the tank. That's a big increase for people who dont earn that much and it is NOT explained by the current supply/demand since there is NO shortage right now and demand is DOWN. So why are prices UP? Somebody's fixing something..
Most definitely.....but the problem beyond that is that the issue is being flamed by the media spouting doom and gloom. People can still go out and make purchases, they just need to be wise doing it. The domino effect of telling people if they spend everything is going to go the hell is that people STOP spending and everything goes to hell. It's like Oil speculators....you tell people oil will be at $150 per barrel next week...and today it's at $125...well then people are going to buy to get those gains, demand will go up and so will price.......self fulfilling prophecy.
I think oil speculation is a quick way to an early brain hemorrhage. and all commodities except maybe sugar and fertilizer. Non-US fertilizer companies (except MOS).
Too bad if companies can't or wont be flexible in a tight climate, that's what happens in a correction as you say. Everyone just needs to pay off the cards and start living on cash/debit. Sell your TV. And start a veggie garden.
I'm one of the lucky ones who can afford to fill my compact size car with $65 worth of gas. Not just last year I used to pay around $40 to fill the tank. That's a big increase for people who dont earn that much and it is NOT explained by the current supply/demand since there is NO shortage right now and demand is DOWN. So why are prices UP? Somebody's fixing something..
Americans aren't going broke...stupid Americans are. Those that chose ARMs, those that chose Interest Only Loans, those that chose to live beyond their means through credit, those that bought homes for investments and not for homes, those who feel the need to have big hulking SUVs just because they are big hulking SUVs.....those are the people crying. Not me. I am crying because too many people see this as a crash and not a reset of an economy that got too fat too fast. It's back to reality people.
Don't forget those who pay taxes, those attempting to sell their homes, those who buy groceries, those who buy gas, those who pay for health insurance, those who pay multiple taxes on phone bills, those whose companies have downsized, who can't refinance due to falling neighborhood values, those whose equity disappeared....
That's a big increase for people who dont earn that much and it is NOT explained by the current supply/demand since there is NO shortage right now and demand is DOWN. So why are prices UP? Somebody's fixing something..
Prices are NOT up, they have started going down. I think its suspicious that they dont go down as fast as they go up, but your info is wrong that prices are going up.
They just started reporting that in year to year comparisons by month, total miles driven is down big...and sure enough, prices are starting to drop under $4. Facts please...not emotion.
Laying people off, cutting benefits, not paying out pension obligations.
Yeah, but the oil companies are causing other businesses into precisely that result.
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