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2008-11-19 Home Front Economy

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Posted by Ebbang Uluque6305 2008-11-19 12:14|| || Front Page|| [3 views ] Top

#1 I can easily garage a couple of MB McLarens at my place. Just leave me the keys.

Posted by Besoeker 2008-11-19 13:20|| 2008-11-19 13:20|| Front Page Top

#2 How many automobiles were purchased through home equity lines of credit? I would say that number is currently someplace close to zero. Without the home equity loan, manufacturers of higher end vehicles, boats, and RVs are going to be hurting.

And just wait, it gets worse! In about 4 years from now the boomers born in 1946 begin to turn 65 and their homes will be going on the market as they cash in what equity they have as retirement savings.

Posted by crosspatch 2008-11-19 14:38|| 2008-11-19 14:38|| Front Page Top

#3 I'm not cashing in my house I'm going to live in it. A country boy can survive.

Posted by bman 2008-11-19 16:38|| 2008-11-19 16:38|| Front Page Top

#4 Man, if cars are bad, boats are ten (if not more) times worse. I would hate to be in the boat business right about now.

Posted by remoteman 2008-11-19 17:15|| 2008-11-19 17:15|| Front Page Top

#5 Purchased, crosspatch? Try leased.....so that people could impress other people they didn't even know or like all that much.

Besides, that way you can save the HELOC for things like the kitchen upgrades, the plasma TV and the vacation to Upper Revoltistan.

Posted by Cornsilk Blondie 2008-11-19 17:18|| 2008-11-19 17:18|| Front Page Top

#6 And just wait, it gets worse!

But that was always expected, crosspatch, just as the stock market was going to fall when they started cashing in their retirement investments. And of course, that's why there was such intense speculation on real estate in desirable retirement areas such as southern Florida. It's just that the speculators got so far ahead of demand that it all crashed.

Posted by trailing wife 2008-11-19 17:20|| 2008-11-19 17:20|| Front Page Top

#7 Huge inventories are a very, very bad sign right now. Before the Great Depression, the massive surplus was in agricultural commodities. Even though the Dust Bowl, from 1930-1936, wiped out a huge amount of agricultural land, there was still, simultaneously, a huge glut of food, and widespread lack of food.

FDR created the Federal Surplus Relief Corporation, who immediately slaughtered over 6 million pigs, to stabilize pork prices. Then it alternated by reducing agricultural production on one hand, and spreading around the surplus food where it was needed, on the other.

Had the Dust Bowl not forced the migration of hundreds of thousands of farm families, the government would have had to. The remaining farms were highly regulated in land use, production, and prices. Farming was essentially nationalized.

Already happening, America is in for a big run of store closings and abandoned businesses. Already where I live the car dealership district is half empty, and retail stores are closing right, left and sideways.

This is not going to be a pleasant experience.

Posted by Anonymoose 2008-11-19 19:24|| 2008-11-19 19:24|| Front Page Top

#8 This is not going to be a pleasant experience. Posted by: Anonymoose

I concur. I think the death spiral began on the evening of Nov 4th.

Posted by Besoeker 2008-11-19 20:01|| 2008-11-19 20:01|| Front Page Top

#9 The death spiral started when Congress enacted legislation lowering requirements for home loans. The bailout sped up the process. Big O will throw the whole thing into a spin and we will auger in.

Otherwise, everything is peachy.

Posted by Alaska Paul 2008-11-19 20:20|| 2008-11-19 20:20|| Front Page Top

#10 How about public auctions of this surplus to find the natural price that the cars should really be sold for.

Posted by 3dc 2008-11-19 20:24|| 2008-11-19 20:24|| Front Page Top

#11 I stand correct AK Paul. While we're on the subject of congresscritters, hows bout you lock em all up for a few years in a .... containment vessel on Fort Greely?

Posted by Besoeker 2008-11-19 20:30|| 2008-11-19 20:30|| Front Page Top

#12 I will bid $5 for that new Mercedes taking up Dock Space in Long Beach.

Posted by 3dc 2008-11-19 21:22|| 2008-11-19 21:22|| Front Page Top

#13 Besoeker---We can put em on the Rat Islands out in the Aleutians. They can't go anywhere, and there are friends out there for 'em.

From Wiki:

The Rat Islands (Qax̂um tanangis[1] in Aleut) are a group of islands in the Aleutian Islands in southwest Alaska, between Buldir Island and the Near Islands group to its west, and Amchitka Pass and the Andreanof Islands group to its east, at about [show location on an interactive map] 51°46′N 178°34′E / 51.767, 178.567.

The largest islands in the group are, from west to east, Kiska, Little Kiska, Segula, Rat or Kryssei, Khvostof, Davidof, Little Sitkin, Amchitka, and Semisopochnoi. The total land area of the Rat Islands is 934.594 km² (360.849 sq mi). None of the islands are inhabited.

The name Rat Islands is the English translation of the name given to the islands by Captain Fyodor Petrovich Litke in 1827 when he visited the Aleutian Islands on a voyage around the world.

The Rat Islands are very earthquake-prone as they are located on the boundary of the Pacific and North American tectonic plates. In 1965, there was a major earthquake with the magnitude 8.7 in the Rat Islands.

Put them on Amchitka and they can find their way around from the glowing plutonium left over from the Cannikan u/g tests..

Posted by Alaska Paul 2008-11-19 23:14|| 2008-11-19 23:14|| Front Page Top

23:36 SteveS
23:15 Hammerhead
23:14 Alaska Paul
23:11 Verlaine
23:08 JosephMendiola
22:57 JosephMendiola
22:52 Zhang Fei
22:49 Zhang Fei
22:26 Frank G
22:25 Ready Kilowatt
22:21 trailing wife
21:58 tipper
21:53 3dc
21:51 SteveS
21:44 Old Patriot
21:28 3dc
21:22 3dc
21:10 Rex Mundi
21:05 3dc
20:38 Zenobia Ebbomose aka Broadhead6
20:31 3dc
20:30 Besoeker
20:30 3dc
20:24 3dc