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[Midnight Rider]

My car is 6 years old, Nancy's is 4.
Don't you have a new car?

 

Chip, don't make this personal, man.  I got a new car for financial reasons that are my personal business.

I'm just making an attempt at saying that not every person walking around out there is always logical, rational, and that some regulation of greedy people is not a bad thing.  Not OVER regulation...just some rules, that's all.

[SBB]

Chip, don't make this personal, man.  I got a new car for financial reasons that are my personal business.

I'm just making an attempt at saying that not every person walking around out there is always logical, rational, and that some regulation of greedy people is not a bad thing.  Not OVER regulation...just some rules, that's all.

Nothing personal there Terry but you talk so much about the housing industy and the auto industry is doing the same thing.
When an "up" walks through the door the goal is to sell a car. Have income #'s been inflated? Or can that person really afford that new Escalade?
It's a sale man and that is what counts.

Nothing personal but you post,

'and the man in the suit has just bought a new car, on the profit he made from your dreams...'

Your post was basically right on, then you add the part about someone with a new car purchased on someone's dreams.

Don't flatter yourself thinking it's personal but clearly there are no new cars purchased here based on someone's dreams.

 

[Midnight Rider]

Nothing personal there Terry but you talk so much about the housing industy and the auto industry is doing the same thing.
When an "up" walks through the door the goal is to sell a car. Have income #'s been inflated? Or can that person really afford that new Escalade?
It's a sale man and that is what counts.

Nothing personal but you post,

Your post was basically right on, then you add the part about someone with a new car purchased on someone's dreams.

Don't flatter yourself thinking it's personal but clearly there are no new cars purchased here based on someone's dreams.

 

That statement was not meant to be taken literally...it's a metaphor.

[vagabond6542]

I read this entire thread, Whew.....
I can name that tune in one word.

Greed

Good night all

[Free]

The interesting thing to me about all the financial meltdown is that very few people mention the root cause of the explosive pop in this recent asset bubble (caused by subprime and soon to go into commerical real estate and credit cards depending on the extent of the recession) and that is the ridiculous amount of leverage that these firms were using to buy the subprime and other notes. Lehman 30-1, Fannie and Freddy 70-1, most banks are 20-1.  With those types of leverage, it takes so little to wipe out the equity. People just went crazy with greed and cheap money provided by the Fed and promoted by Congress. Cheap money in combination with people who were not frugal and thrift who used leverage and you have a recipe for disaster.  We are a nation of consumers using borrowed money with very little savings - so this recession is going to be painful and force America to retrench and make some hard decisions. 

For those of us with savings and low leverage, we just have to grind out this likely to be very long recession, lower our expenses and hope that our savings aren't too deflated by higher taxes on capital and inflation (two things that you can bet your life are going to happen).

Free

[DCFIREMANN]

The interesting thing to me about all the financial meltdown is that very few people mention the root cause of the explosive pop in this recent asset bubble (caused by subprime and soon to go into chimerical real estate and credit cards depending on the extent of the recession) and that is the ridiculous amount of leverage that these firms were using to buy the subprime and other notes. Lehman 30-1, Fannie and Freddy 70-1, most banks are 20-1.  With those types of leverage, it takes so little to wipe out the equity. People just went crazy with greed and cheap money provided by the Fed and promoted by Congress. Cheap money in combination with people who were not frugal and thrift who used leverage and you have a recipe for disaster.  We are a nation of consumers using borrowed money with very little savings - so this recession is going to be painful and force America to retrench and make some hard decisions. 

For those of us with savings and low leverage, we just have to grind out this likely to be very long recession, lower our expenses and hope that our savings aren't too deflated by higher taxes on capital and inflation (two things that you can bet your life are going to happen).

Free

I agree with you Free. But I really hope the recession does not last more than another year. The problems with the financial market leads me to believe different.

Be Safe

THE DAWG

[miker]

I am laying odds this will last well past historic time frames of recession...
I give this misery 24-36 months to semi-recover 50% of the loss form the last high, regardless of which pandering party of the uberwealthy gets its incestous foot in the door of the whitehouse because we havbe the same paid for upon delivery congress and senate..Bad time to retire.

I wish I were a better trader..

Just one jaded person view, imho...

[iski]

After careful consideration,, I have decided that I still like pudding.

Chocolate & banana mostly, but other kinds are ok too.

[Hugh Janis]

After careful consideration,, I have decided that I still like pudding.

Chocolate & banana mostly, but other kinds are ok too.

Tapioca, fresh and warm here.   I prefer flan though

[iski]

Tapioca, fresh and warm here.   I prefer flan though

Flan...... ok, I like flan too.  Have not had any tapioca for a while.  Bread pudding is excellent, also.

[Hugh Janis]

Flan...... ok, I like flan too.  Have not had any tapioca for a while.  Bread pudding is excellent, also.

Forgot about bread.....  dayum.....  Yup, bread too, warm, with bourbon and cream

[iski]

Forgot about bread.....  dayum.....  Yup, bread too, warm, with bourbon and cream

Mmmmmmm.......  Have also tried bread pudding with chocolate.  Very good.

Almost on topic considering a "meltdown" analogy for the chocolate & all. 

[Capo]

I read this entire thread, Whew.....
I can name that tune in one word.

Greed

Good night all

Can I get an Amen?

[Hugh Janis]

Can I get an Amen?

Yup, I have greed for flan thanks to Iski

[miker]

!