It's obvious why the media keeps hyping up the numbers (ratings), not sure why though why so many believe everything that they hear. Isn't seeing the true believing? If you look around and see the sales at stores (close to zero margin), that is a major sign. When the gov has to induce insentives to get us to spend, that's a sign. When we have to tell our people that a week dollar is good for our economy ( what a joke), that is a sign. Obama telling us that we are not at risk of inflation and our treasuries yields are soaring now, that's a sign. Dollar goes down gold goes up...dollar goes up gold goes down, big problem due to Gov tampering. We have to spend tax and stim dollars to keep mortgage rates down (artificial stimulus), that is a sign. Our country relies and function off of credit, well if we don't have it or it keeps dropping...well how will we ever rebuild the way things once were? oh that's right we can't. Credit card companies that cut available balances are killing credit scores. Mortgage companies that cut HELOC's are doing the same thing too. Everything you own is bought with dual income and now 1 or both are out of jobs. This world is screwed for a very long time...This is open for an intelligent!debate
it appraised for 14 million 2 years ago and sold for 2.5 million today. Bank only lost 500k to 800K, depending on how much in taxes and back interest they lost.
There are million more houses like this in america. I still think the banking giants are cooked.
Imagine you bought a company that was failing very bad... now to get people to buy your product (which everyone uses) you have to pay people to come to you to buy your kind of product. You decide to pay people in the form of a voucher that can be used with any company and you will pick up the remaining tab as long as it's a similar product. Now you have taken a customer away from your own company for years to come and you picked up the discounted tab. How stupid would you feel helping other companies boost their sales by customers using your vouchers elsewhere???? They say it creates more jobs but if it made a difference of 13 cars per dealership...how many jobs did that increase????? zero cause they probably just increased hours for the existing employees.
One thing you have to keep in mind. Many people who traded in their clunkers got less than what the clunker was worth. Some traded in 03 and 04 cars and only got 4500 for them. Cars they paid 30k or more just 5 or 6 years ago and the stupid government is destroying them.
And when they realize it they will probably stop paying on their new clunkers.
THE AUTO BUBBLE IS COMING, NO BUYERS AFTER THE CLUNKER PROGRAM !! and good working cars are getting destroyed, ( poorer people drive clunkers and that is a fact ) they can't afford a nice car, so that will kill the economy , its gonna be a CRUEL WINTER ! NOT SUMMER,
I don't understand how one can say unemploynebt numbers are improving...we had 247,000 unemployed, that is 247,000 additional people without benefits/jobs. How many people have exhausted their benefits last week/month that aren't in the numbers anymore. How many companies are belly up now to where those jobs are perm. gone? How much of an affect does the new min wage have on employers?
How much will tax increases affect business owners? ............Real Estate improving???? Not to be rude, but have you ever been in the mortgage/real estate world? Try doing a loan right now! without the stim. plan there would be squat for purchases...end of Sept the 8k program tax credit for new construction is gone and end Nov for all purchases...what will the numbers look like then? Cash for Clunkers...yea let me help fund a depreciating asset...why not increase the housing credit that has a potential to appreciate. Also, keep in mind that the foreclosure numbers are only of the ones that have foreclosed, in many areas you can drag the process out for 12 to 18 months..those are not on the books (ghost inventory). 41% of all homes underwater 2011...that's scary. Loan mod program kills your credit as if settled for less (close to BK drop) so those people wont sell and buy down the road. We can give all the incentives we want but without credit you buy nothing. SORRY but those are my concerns...open to intelligent thoughts.