Economy Getting Better?

[CurlyDave]

As far as the economy right now goes, I posted a while ago that one indicator of construction is activity at the dump. As of about 2 weeks ago, it was up a bit.

Lately I have been going to a local quarry with my dump trailer to get crushed rock. I know it would be better to get a whole truckload delivered, but my space is very, very limited and a few tons at a time is all I can really handle.

Anyway, a month ago there was never a line and it seemed dead. Yesterday and today, there were lots of trucks in line to be loaded. I accidentally jumped the line and caught he11 for it...

So, from observation, things in the SF Bay area are picking up a little.

 

[handirifle]

Bush tried three times to stop this but was stoped by the Dems with a threat of filibuster. While I fault Bush for not maning up and taking care of a well known problem, you really have to go back to Jimmy Carter for the beginnings of the housing bubble and giving out loans to those who were never qualified for them. Regan let it slide, and that was a mistake. He never had the House or the Senate, so everything that he did get through was a massive battle. He didn't win all of them. Bush 1 wasn't much of anything and really let things get out of control with interest rates and inflation.

Clinton got that under control, but really expanded on the lending to those who didn't qualify for the loans. It started out with low income people and worked its way up to everyone.

What I feel was the death of the housing market was in the relaxing of the laws in refinancing and taking out equity in a house. The changes to those laws allowed people to use their house as a credit card. Once that started, and others were able to spend more on a house with the same income, it was a train wreck waiting to happen.

I sold my house and quite my job in 2002 because I knew it was a bubble and just a matter of time until the price of a house collapsed down to what they are really worth. I was a year or two early, but it is exactly what happened. Find somebody who lost a house that didn't have a second or had refinced and took cash out of their house. Their stupidity and greed caused the collapse, but Clintons changes that allowed this so he could get more votes is why we are where we are today.

Eddie

THANK YOU! The one voice of truth of where it started. There has been MUCH that could have been done, by both sides, along the way, but "Who wants to be the one that takes away the AMerican Dream, form those that couldn't afford it anyway.

Personally, I think NONE of the Congressional or Senate jobs should come with a retirement plan. That would curb their desire to do whatever it takes to get reelected and maybe for once, concentrate on running the country, somewhere besides into the ground.

Folks it's not going to get better soon, because those in power (NOT our elected offocials, but the money givers behind them) do NOT want it to. They want this country to fail, so it can be absorbed into a global economy. I'm not a fatalist, I'm just telling you what I see. Goerge Soros, has vowed his billions to topple our country, and he has toppled others before.

Sorry for ranting, but it agrevates me to see outsiders do all they can to destroy this great nation. I see good people STILL losing their jobs more and more, and the government forces are still blowing smoke, just to make us into the kind of country THEY think we should be.

 

[qball98]

I don't want to get started on this one because it just get me agitated so I will just post a short answer.

H##L NO

 

[Baby Grand]

With our stock market starting to see highs in the 12,000's marks does this mean that our economy is starting to look better?

No. It just means that all the chickens have run to the 12000 part of the barn yard. Something will spook them and they'll all run somewhere else (probably downhill) faster than you can say "oil supply".

-Jim

 

[955er]

All of the hedge funds and foreign owned investment groups are buying farmland in Iowa, Kansas, Nebraska, and Central Illinois, not co-op buildings in NYC.

 

[om21braz]

It does'nt sound better when some banks are now calling notes they are holding on large properties (non-performing,albeit) that are'nt scheduled to mature until 3-5 years. Appears they are building warchests, not?

 

[weldingisfun]

Let us not forget to factor in the devaluation of the US $.

 

[jimgerken]

All of the hedge funds and foreign owned investment groups are buying farmland in Iowa, Kansas, Nebraska, and Central Illinois, not co-op buildings in NYC.

I wish that was true.

 

[Glen Watkins]

McGeesEquip you guys are buying fill dirt? Dump sites are a premium around here and usually if you have a place the will take a lot of fill the loads are not only free but will put a dozer and operator there to grade it off!

 

[Ford tractor]

Remember when there was a bit of rough weather in the gulf and our oil production was cut down a bit and prices jumped $2? Guess what? Obama has reduced out gulf oil output BELOW that level. Our consumption is down so the prices are only moderately high. WHEN Egypt collapses and the Arab Brotherhood closes the Suez Canal prices will SOAR. Then when IRAN closes the Straight of Hormuz, price of gas will be north of $10 a gallon. A head of lettuce will be 10 bucks, a gallon of milk will be $20. Think O-chicken will do squat to help the American people? I don't.

Has the economy recovered? It's bad and getting ready to replay the great depression on steroids.