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Old 06-16-2018, 09:23 AM
 
Location: Florida
77,013 posts, read 47,464,680 times
Reputation: 14806

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Quote:
Originally Posted by Loveshiscountry View Post
lol No you didn't. Otherwise you would have seen the Housing collapse coming. It was the progressive horrible policy. Easy lending.
As a matter of fact, I did see it coming. The lesson I learned from the .com bust taught me to capitalize from the housing boom/bust. I knew to sell, as opposed to assuming the boom would never end.
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Old 06-16-2018, 09:25 AM
 
22,626 posts, read 24,477,017 times
Reputation: 20279
It "feels" like stock and home prices have been basically going up and up for over 8 years. At this point, I think this may be the "new normal", nothing to worry about........any and all "serious" corrections will be remedied by Fedgov.
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Old 06-16-2018, 09:27 AM
 
Location: Florida
77,013 posts, read 47,464,680 times
Reputation: 14806
Quote:
Originally Posted by tickyul View Post
It "feels" like stock and home prices have been basically going up and up for over 8 years. At this point, I think this may be the "new normal", nothing to worry about........any and all "serious" corrections will be remedied by Fedgov.
The truth is that the stock market is rallying globally, but not in US anymore. Those who bought international funds last year are raking it in this year.
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Old 06-16-2018, 09:28 AM
 
Location: Somewhere extremely awesome
3,130 posts, read 3,063,871 times
Reputation: 2472
Quote:
Originally Posted by bawac34618 View Post
Let's refrain from blaming any politician at first. Let's talk about the current state of the economy. The media on both sides have generally pushed the narrative that it's booming in recent years. However, is that really the case? First and foremost, the only thing that has really boomed since the beginning of 2017 is the stock market. Everything else has continued humming along as it has since at least early in Obama's second term. We have nearly full unemplyoment but it doesn't feel like it. Wages are not rising like they should if the unemployment rate really was as low as the official number. This isn't a '90s economy. This is an '06 economy. It also doesn't feel like a 3% GDP economy. It feels more like 1-2%. I would say this economy is not bad per say but it's not as rosy as some would have you believe. I also think recession is coming sooner than people want to admit as well.

What are your thoughts on the current economy?
I think how well the economy is doing is somewhat based on where you live.

I'm in Michigan. The 2000-08 era was awful, as manufacturing kept being downsized. Granted, these problems were limited almost exclusively to Michigan, but things feel WAY better here than they did 10-15 years ago. There's investment and optimism in the local economies, and since often times it's been said that the auto industry (which is what Michigan's economy is heavily based upon) is a harbinger of things to come, that would indicate that things aren't as bad as they were in '06.

That being said, there are definitely things that could be improved, and eventually there will be a recession. It will be interesting to see which sectors are hit the hardest though.
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Old 06-16-2018, 09:37 AM
 
Location: Del Rio, TN
39,809 posts, read 26,394,291 times
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We WILL have recessions in the future-it's the nature of economics. A recession is defined IIRC by 2 consecutive quarters of declining GDP. Only 2. What I think we will avoid is the lost decade from ~2007 until 2016. The DOW peaked in 2007 and took nearly 10 years to get back to that level. Now that we finally have a president with some business and economic experience in office, I don't see a disaster like that happening again.

For the first time in 30 years, we have a president in office that puts America and the American people first. That remembers who he is hired to work for. One that is putting economic policies in place at least aimed at helping us. One that is FINALLY dealing with the unfair trade practices of our largest trading partners, and working to put American workers and businesses on a level playing field with them.
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Old 06-16-2018, 09:55 AM
 
79,908 posts, read 44,040,844 times
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Quote:
Originally Posted by Listener2307 View Post
The 90's economy was a bubble. It popped, and popped badly.
No, I like this economy better. In the long run I think wages will rise because of a labor shortage. Then prices will rise. It will go on for a long time, just rising. Decades.
This economy is going to pop also.
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Old 06-16-2018, 09:57 AM
 
79,908 posts, read 44,040,844 times
Reputation: 17199
Quote:
Originally Posted by cuebald View Post
Obama is the one who had the job of cleaning up W's mess. He was a strong enough leader to make the hard decisions that pulled us back from a Great Depression.
Bowing to the gods of Wall Street is all he did and he found out that even a billion dollars couldn't save him.
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Old 06-16-2018, 09:58 AM
 
79,908 posts, read 44,040,844 times
Reputation: 17199
Quote:
Originally Posted by Elliott_CA View Post
Not only was TARP paid back, the government made a $3.3 billion profit.
No it wasn't and no we didn't. I've covered this here endlessly.
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Old 06-16-2018, 09:58 AM
 
Location: Florida
77,013 posts, read 47,464,680 times
Reputation: 14806
Quote:
Originally Posted by Toyman at Jewel Lake View Post
The DOW peaked in 2007 and took nearly 10 years to get back to that level. Now that we finally have a president with some business and economic experience in office, I don't see a disaster like that happening again.
Please check your facts, before claiming it took 10 years to get back to 2007 level. This kind of ignorance it just too common among Trump supporters.
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Old 06-16-2018, 10:16 AM
 
Location: Los Angeles (Native)
25,303 posts, read 21,377,184 times
Reputation: 12318
The economy is cyclical. Also all economies are local . All markets are different too .
The stock market has been great but if you invested in the crypto currency market this year you are way down for example .

People are working but in many cities and states they still struggle . 1/3 of people in California struggle to pay basic living costs .

I live in Los Angeles the second biggest city in America and you see a lot of poverty around .

There is a ton of building going on here right now but it doesn’t feel like building just for the sake of building like was being done in Vegas or Miami last time . There is strong demand here as there are a lot of people that want to live here year round and make a lot of money too .

Just as an example . There is an area that was an industrial area and now many of the buildings have been converted to hip apartments , condos and retail . Lot’s of trendy restaurants etc . This is an area nobody wanted to live in not too long ago . I just read there are 25 developments going on in the area right now .
In a 50 block area . There is also a lot of development going on in other areas .

Compared to the housing crash when nothing was being built it definitely feels like booming . I hear the same things too about it being hard to find contractors and the rates they are charging are a lot higher now because they can .

Eventually something will happen though and there will be a downturn .
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