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Black Everyday!!!!
- Thread starter liulala
- Start date
Mercor:
Retail sales tanked in Sept. and killed the market. The worst thing that can happen now is the consumer gets scared and stops spending.
We need to continue to go to Disneyland.
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That's assuming the consumer a) has a job and b) has discretionary income.
From 2004-2006 Home equity extraction totaled roughly 600 billion a year. For 2008 - it's estimated to be 100 billion.
That's a lot of clams missing for an economy that relies on 70% consumption for gdp.
By the way, if we were to measure inflation and unemployment the way we did in the 1970s, we wouldn't be that far off, and yet, we are only in the beginning of this bear of a recession.
Retail sales tanked in Sept. and killed the market. The worst thing that can happen now is the consumer gets scared and stops spending.
We need to continue to go to Disneyland.
_________________________________________________
That's assuming the consumer a) has a job and b) has discretionary income.
From 2004-2006 Home equity extraction totaled roughly 600 billion a year. For 2008 - it's estimated to be 100 billion.
That's a lot of clams missing for an economy that relies on 70% consumption for gdp.
By the way, if we were to measure inflation and unemployment the way we did in the 1970s, we wouldn't be that far off, and yet, we are only in the beginning of this bear of a recession.
A few of the things you listed above don't seem like particularly good ideas (raise taxes?!?) - sometimes doing nothing is the right move.Quote from Mr Pain:
After 911 Bush could have done anything, raised taxes, get us off foreign oil in the name of national defense, a draft, calls for service and sacrifice not seen since WWII but what does he tell America to do, take your family to Disneyland thatâs what. What leadership.
The politicians that scare me are the ones that think that more gov't is the solution to every problem when usually its exactly the opposite.
Quote from Mvic:
The dems pushing Fannie and Freddie to relax mortgage standards and allow their execs to profit from that also played a vital role in creating the problem. Also the law that Phill Gramm pushed to unregulate CDS was voted on 95 to nothing if memory serves. Plently of blame to go around, and 9-11, Katrina didn't help and had to be reacted to (though Iraq was the wrong reaction and a costly mistake). I am no fan of Bush but you just can't lay it all at his door as good as it feels to do so.
Very good points. I concur.