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Old 10-24-2008, 10:04 AM
 
Location: Great State of Texas
86,052 posts, read 84,214,150 times
Reputation: 27718

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Quote:
Originally Posted by GregW View Post
Judging the health of an economy by the amount of cash flowing through a mall is one of the biggest problems. Cash flow is not accumulated wealth. As most is financed it is debt and debt destroys economies.
People were coaxed by the MSM and government to believe "credit" equated to "wealth" when indeed credit was nothing more than debt. Salaries did not rise but credit (debt) limits did and massive borrowing insued with people believing they were better off.
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Old 10-28-2008, 11:27 AM
 
484 posts, read 2,207,340 times
Reputation: 314
i work at a BMW dealership and peole are buying cars from left to right!
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Old 10-28-2008, 01:45 PM
 
Location: Houston, TX
17,029 posts, read 30,814,563 times
Reputation: 16265
Quote:
Originally Posted by k374 View Post
well so far the economy is still going strong, people are out there spending and having the time of their lives. If there is a recession I cannot see it, infact it has become much busier than normal. I just can't seem to get a parking spot at any mall around here and the restaurants are packed full even on weekdays. Not sure what is going on. Also, many people are going on vacations and talking about buying houses.

I've had three friends get downsized in the last month from different companies...accounting, project manager, logistics coordinator. Not bad jobs all had 15+ years with companies. All is not well, people are tightening the pocketbooks.
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Old 10-28-2008, 01:47 PM
 
Location: Houston, TX
17,029 posts, read 30,814,563 times
Reputation: 16265
Quote:
Originally Posted by HappyTexan View Post
People were coaxed by the MSM and government to believe "credit" equated to "wealth" when indeed credit was nothing more than debt. Salaries did not rise but credit (debt) limits did and massive borrowing insued with people believing they were better off.

Its strange that lately I have received many more applications for credit cards and mortgage financing than ever before.

The first step in getting out of a hole is to put down the shovel.
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Old 10-28-2008, 09:57 PM
 
Location: Great State of Texas
86,052 posts, read 84,214,150 times
Reputation: 27718
Quote:
Originally Posted by Oildog View Post
Its strange that lately I have received many more applications for credit cards and mortgage financing than ever before.

The first step in getting out of a hole is to put down the shovel.
Me too. For all the bank problems you read in the paper they sure are willing to lend.

I've taken to reply to them when they have a postage paid envelope. With black magic marker I write across the return application:

"Don't you have enough debt?"
"You already took all my money..you want more now?"
"Send this application to Wash DC..they have more money than me".

Gives me a little sense of trying to get back and I wager the people that open my envelope and read my rants get a laugh.
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Old 10-28-2008, 10:07 PM
 
Location: Some place very cold
5,501 posts, read 22,404,420 times
Reputation: 4353
Quote:
Originally Posted by Oildog View Post
Its strange that lately I have received many more applications for credit cards and mortgage financing than ever before.

The first step in getting out of a hole is to put down the shovel.
Getting an application is not the same as getting the loan.
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Old 10-28-2008, 10:34 PM
 
48,505 posts, read 96,582,961 times
Reputation: 18303
Quote:
Originally Posted by 70Ford View Post
Gallery: The Greatest Depression, as Seen on the Covers of The Economist

It's always fun to get slammed by a disaster and then to look back and discover that some people had been warning you about it forever.
We have been warned about the comingIce Age;Global warming;crashes ever since the great drepression;Y2K crisis.how about very city in all parts of the country will be wiped out by a coming disaster.how the world will be hit and destroyed by meteors ;How the world will run out of energy ;out of water;that fires will consume the western US or a tidal wave. People just get burned out on the predictions. The world has always had disasters.
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Old 10-29-2008, 11:44 AM
 
50 posts, read 172,897 times
Reputation: 20
Quote:
Originally Posted by mrgrape View Post
i work at a BMW dealership and peole are buying cars from left to right!

Wow, my husband works for a Hyundai/Mitsubishi/Suzuki dealership and they aren't selling much of anything. In fact they are cutting jobs and pay. We're hoping to hang in there till the economy gets better. Luckily I went back to work full time about two years ago or we would be in trouble. Things are tight for us right now as it is.
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Old 10-29-2008, 11:50 AM
 
16,433 posts, read 22,129,650 times
Reputation: 9622
Quote:
Originally Posted by k374 View Post
well so far the economy is still going strong, people are out there spending and having the time of their lives.
So far people still have jobs. That is changing rapidly.
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