And the bubble goes POP

  • Thread starter Thread starter Ms.Wetback
  • Start date Start date
The whole financial system in our country is being held together with strings that are breaking more and more every day. Real estate is only the tip of the iceberg. The dollars falling value, retailers in a state of panic, the PRIVATELY OWNED federal reserve printing money out of nowhere to create an already insurmountable debt, it is going to turn very ugly when the rooster comes calling.
 
FINALLY some one who agrees and sees it coming .................. less than 4 years.
 
it is very bad from an economic standpoint here in usa. Very bad. It is the Peter Principal, and in time there will be the domino effect, especially if we don't get a good manager in the white house and quick.
 
Mick-G said:
it is very bad from an economic standpoint here in usa. Very bad. It is the Peter Principal, and in time there will be the domino effect, especially if we don't get a good manager in the white house and quick.
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IMO, it is past fixing. We really have to have a total economic collapse( and its coming) in order to fix it. Alot of people don't realize that the "federal reserve" is privately owned. That is a HUGE problem. Printing money out of thin air when the dollar is already falling to record lows against other monetary systems was a terrible idea, but they did it anyways. I agree with you about the domino effect and although a few have fallen( Bear stearns, countrywide, ect) we haven't seen the dominos take off and really start falling yet. MSW, you give the gov more credit than I do, I don't see how they can keep up this game of hide and seek for 4 more years, I say less than 2.
 
ALLO said:
MSW, you give the gov more credit than I do, I don't see how they can keep up this game of hide and seek for 4 more years, I say less than 2.
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It is based on some weird an not normal thinking on my part. I would rather not elaborate LOL While I agree 2 years is possible, knowing the real estate market, banking systems and the way the fed is I think they will buy more than two years. Also the new prez will have a small reprieve prior to collapse.

We are actually selling our house and going to rent. :idea:
PLEASE some one start telling me that it is better to own then rent BWAAAHAHAHAHA

Asa far as giving the govt credit, not at all. I honestly believe that they will not let us fall into a third world country. A depression very well might be coming though ......................
 
The economy is a joke, but we put ourselves here. It will correct as it always does, just like after the dot com's and just like after sep 11.

Renting is not better than owning, unless you have a really shitty mortgage like an ARM.

Keep your house...especially with all the Nutech $$ you're making...
 
Vegas Kid said:
The economy is a joke, but we put ourselves here. It will correct as it always does, just like after the dot com's and just like after sep 11.

Renting is not better than owning, unless you have a really shitty mortgage like an ARM.

Keep your house...especially with all the Nutech $$ you're making...
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LOL ................. we actually figured it would be better to rent for a year or so. We can rent a $2 Mil place on the water for about 3G a month and in a year or so buy a new place at a lot less. It is JUST starting to hit down here, the worst is yet to come.

Once the waterfront foreclosures start coming we will make out move. And the funds from our sale we can get 3-4% monthly on anyway which more than pays for our rent free and clear.
 
only $3K for a $2MM place? Very nice, people must be desperate...

You can always go to Florida, there is so much shit available it's not even funny. I thought about investing there, but I have my dream spot picked out....
 
Vegas Kid said:
only $3K for a $2MM place? Very nice, people must be desperate...

You can always go to Florida, there is so much shit available it's not even funny. I thought about investing there, but I have my dream spot picked out....
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Couldn't give us a place in FLA. Thanks but not thanks.
 
Should visit, awsome place...We'll be back in October...wedding and all
 
Great, let me know if you need some recommendations on things to do or see...Might want to hit up Savanaha while you're there (1.5 hr drive).
 
yup its getting bad. Several things can solve it but ull never see it happen
 
Marines said:
I think it maybe less then 4 years with the way fuel prices are going. :(
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Fuel and Oil prices are being adjusted for the falling value of the dollar. It is not so much that prices are going up as it is that our money is worth so much less.
 
True very good fact Ms Wetback but it doesnt help the lower and middle class workers that wages arnt gong up.
 
Marines said:
True very good fact Ms Wetback but it doesnt help the lower and middle class workers that wages arnt gong up.
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Without a doubt ............... and never will go up evenly. We are becoming a two class society.
 
Ms.Wetback said:
It is based on some weird an not normal thinking on my part. I would rather not elaborate LOL While I agree 2 years is possible, knowing the real estate market, banking systems and the way the fed is I think they will buy more than two years. Also the new prez will have a small reprieve prior to collapse.

We are actually selling our house and going to rent. :idea:
PLEASE some one start telling me that it is better to own then rent BWAAAHAHAHAHA

Asa far as giving the govt credit, not at all. I honestly believe that they will not let us fall into a third world country. A depression very well might be coming though ......................
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the bigger question is- in selling your house will you make or lose money, and is there someone around to buy it if everyones waiting for a foreclosure?


and yes, i do believe the government is fucking us all into a 2 class society- rich as hell or poor as hell, no more middle class.
 
FTC said:
the bigger question is- in selling your house will you make or lose money, and is there someone around to buy it if everyones waiting for a foreclosure?
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For us, yes, we will not loose any money. We paid cash and got a good deal on it. We would probably break even or a smidgen ahead after the RE commission.

And a 2 class system is coming .......... like it or not. And I blame that on the laziness of most Americans.
 
FTC said:
and yes, i do believe the government is fucking us all into a 2 class society- rich as hell or poor as hell, no more middle class.
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Totally disagree. Everybody has an opportunity to become successful in our society, there is no "holding down" anybody. People just don't realize how lucky we have it here in the states.

Don't like it? Go try and open a business in China or some other Communisty country.

Trust me, if you can't make it in the US you will surely fail throughout the world.
 
So what's an up and coming college grad like me supposed to do in the next couple years? My degree is in Engineering, so I don't think I have to worry about a job just yet, but as far as becoming a home owner, what's the best move to make? I don't know much about economics, my specialty is in manufacturing
 
J.Matrix said:
So what's an up and coming college grad like me supposed to do in the next couple years? My degree is in Engineering, so I don't think I have to worry about a job just yet, but as far as becoming a home owner, what's the best move to make? I don't know much about economics, my specialty is in manufacturing
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Personally if you are new to it all; rent somewhere CHEAP and BANK BANK BANK your money. I would live at home if it was feasible.

Vegas Kid said:
Totally disagree. Everybody has an opportunity to become successful in our society, there is no "holding down" anybody. People just don't realize how lucky we have it here in the states.

Don't like it? Go try and open a business in China or some other Communisty country.

Trust me, if you can't make it in the US you will surely fail throughout the world.
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Completely on the money there VegasKid. I agree completely. While we are going to go to a two class system it is to a degree self-inflicted. We are the laziest bunch of people in the world and do not want to improve our lives or our education. Why does everyone want to come to this country and when they get here they typically surpass the average American family, in terms of wealth, in less than 10 years. And it is NOT because of minority status and loans, they are available to everyone.
 
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Only way I would buy now is thru a Short Sale or Foreclosure. Buyers are offering .60 on the dollar and banks are taking it.

If you are not ready.....just keep your credit clean and save as much as you can. Huge opportunities are just around the corner.

This is the time when big money people make more. There will be a lot of bottom fishing ahead.


check this article from last week: http://www.nypost.com/seven/04132008/news/regionalnews/foreclosure_st__106326.htm
 
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