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If you think thats bad, wait till the shadow inventory starts to get dumped, the rates rise (and subsequent increase in forclosures), and the middle class gets a default tax increase in 2011.
I think many banks have began to dump houses.
We are getting calls now to just abandon wells at these properties rather than fix them.
I have been offered houses for $1. They were in Detroit.
It's so sad for the economy
I guess the republicans will be advantaged by that.
'Tis sad, but true. I have been saying over and over again that unless the Democrats can provide some sort of relief, the people will do the talking in the November elections. Is it possible that the Dems lose both the House and the Senate? At one point I would have said no, now I am not so sure. Hey - at this point, I am for ANYONE that can fix this economy and get this country moving again rather than fighting amongst ourselves.
'Tis sad, but true. I have been saying over and over again that unless the Democrats can provide some sort of relief, the people will do the talking in the November elections. Is it possible that the Dems lose both the House and the Senate? At one point I would have said no, now I am not so sure. Hey - at this point, I am for ANYONE that can fix this economy and get this country moving again rather than fighting amongst ourselves.
You are not going to like this.........
The only way to fix things is let it bottom out.
Stop the extensions on unemployment.
Repeal the health care law and take cap and trade off the table.
Stop and think. Would you invest money now???
Investors do know what their future costs will be with those two factors out there.
Repeal the health care law and take cap and trade off the table.
Stop and think. Would you invest money now???
Investors do know what their future costs will be with those two factors out there.
I am sorry, but I do disagree with you. Back during the Great Depression, Hoover (who was President when it took place) was also of the mindset that government should not become overly involved. That, of course, was a great failure. Enter FDR and the New Deal. He (and his government) put together about 10 programs (available on the web) that actually assisted this country and its people in climbing out of the Depression.
If you want to stop the extension on unemployment - then what are you offering on the other side? A program similar to the WPA which WAS successful in putting people back to work and building new infastructure within the nation?
As to whether I would invest now - well, sadly that question is moot since I have no money to invest, but yes Driller, if I had some extra cash, I think there are quite a few undervalued stocks out there right about now. And I certainly would invest in real estate given the current prices.
Not only New housing down, but my realtives who live in other States are complaining that businesses are shutting down, in the malls and small MOM AND POP Businesses. SO MUCH FOR OUR GREAT ECONOMY IMPROVING. If you listen to this administration they will have you thinking that everything is just fine, and we are moving ahead, i don't know about you people out there, but if this is good HOPE AND CHANGE, we surely did not need it. It sucks, plain and simple, Economy is sucking.
I am sorry, but I do disagree with you. Back during the Great Depression, Hoover (who was President when it took place) was also of the mindset that government should not become overly involved. That, of course, was a great failure. Enter FDR and the New Deal. He (and his government) put together about 10 programs (available on the web) that actually assisted this country and its people in climbing out of the Depression.
If you want to stop the extension on unemployment - then what are you offering on the other side? A program similar to the WPA which WAS successful in putting people back to work and building new infastructure within the nation?
As to whether I would invest now - well, sadly that question is moot since I have no money to invest, but yes Driller, if I had some extra cash, I think there are quite a few undervalued stocks out there right about now. And I certainly would invest in real estate given the current prices.
WW II is what bought the US of of the depression.
What I meant by invest is take your money and open a business. Hire people. Really take a risk.
I did it back in 2000 or so, NEVER would I do it today.
I am sorry, but I do disagree with you. Back during the Great Depression, Hoover (who was President when it took place) was also of the mindset that government should not become overly involved. That, of course, was a great failure. Enter FDR and the New Deal. He (and his government) put together about 10 programs (available on the web) that actually assisted this country and its people in climbing out of the Depression.
If you want to stop the extension on unemployment - then what are you offering on the other side? A program similar to the WPA which WAS successful in putting people back to work and building new infastructure within the nation?
As to whether I would invest now - well, sadly that question is moot since I have no money to invest, but yes Driller, if I had some extra cash, I think there are quite a few undervalued stocks out there right about now. And I certainly would invest in real estate given the current prices.
Hoover was a huge interventionist. Read Rothbard's book and you'll see how Hoover colluded with corporate heads at Ford, etc. to maintain wage rates and prevent the liquidation. Later he said:
"We might have done nothing. That would have been utter ruin. Instead we met the situation with proposals to private business and to Congress of the most gigantic program of economic defense and counterattack ever evolved in the history of the Republic. We put it into action.... No government in Washington has hitherto considered that it held so broad a responsibility for leadership in such times.... For the first time in the history of depression, dividends, profits, and the cost of living, have been reduced before wages have suffered.... They were maintained until the cost of living had decreased and the profits had practically vanished. They are now the highest real wages in the world."
Stop reading Krugman talking points that have been clinically proven to deplete brain cell counts.
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