is the economy's future really started to look bleak. Everyone (meaning coorperations, private citizens, even our own government) has run up this huge debt and there is no cash available to make the payments. The housing and lending market is just the tip of the iceburg. Everywhere you look in the markets (globally) there is negativity. I can't help but wonder what we are in for in the next coming year or so.

 

might as well take it right over to www.all-politics.net, no use starting anything like that here.

 

before it gets closed Im gonna mention, every time the market hits new highs and makes a turn, people panic and look at their financial situation.
global warming, market crashes, some new virus out of central asia, they are all here just to wipe us out. Nothing to panic about.

 

I was reading the local paper the other day and saw a 2000 chevy taho for $10,000. The were offering on the lot financing at 5% for 7 years. Now the truck is already 7 years old and now your going to borrow money on it for 7 years. That the stuff I don't understand.

 

This wasn't meant to be political....just looking for different views on the markets from other areas of the country. You are probably right though, someone here will probably turn into a political rant. We discuss seatbelts, guns, smoking, etc. on here...I figured views on what is coming shouldn't be any more volitale.

 

I don't owe nothin,,, buy used trucks, borrow from myself...
Of course , I don't have TV ( no cable, no dish) no big sound system,
Tired old Computer, Lot's of stuff I don't have...
But I have piece of mind, encomony don't worry me...

 

I blame the neighbors, everyone tries to keep up with the neighbors, get a bigger house, bigger and better car/truck, bigger and better everything, this results in bigger debt. People can't pay back the debt and that's why the economy suffers. My family has our own custom carpentry business, my dad is the founder and does all the work himself. He is backed up a year in jobs and gets paid a lot of money for them. We live in a 42' long rancher on a 3/4 acre piece of land. We don't have a lot of stuff, I've seen closests bigger than my room. We are happy though, we almost have the work truck (2003 Chevy Express 3500) paid off, and my mom is working on paying her van (2005 Dodge Grand Caravan) off without a problem and my dad's 2001 Harley Davidson Sportster will be paid off next year. We save money, and don't blow it, we don't care what the neighbors have. We are thankful for what we have. Worry about what you have, not what the neighbors have.

 

Everything that is denominated in dollars, I.E paper assets, should be sold and replaced with gold and silver. The Fed just lowered interest rates again so we are well on the path towards hyperinflation.

Edwin

 

Yep, its bad and going to get much worse Im afraid. We have several rental properties here in Orlando and its been horrible for the last 6-8 months. Everyone is in this "hang on" mode but it seems there is no end in sight.

 

Not really. The interest rate was for the discount rates offered to banks. Has nothing to do with Joe Consumer and was pretty much fluff. Market liked it, though, but it really has no effect on the economy other than to bolster confidence.