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US expert warns of fresh shocks (If Housing Price Continue To Fall)
http://www.ft.com/cms/s/0/31d8aba4-66b6-11dc-a218-0000779fd2ac.html ^ | 9-19-07 | Eoin Callan

Posted on 09/20/2007 8:49:57 AM PDT by Hydroshock

Edited on 09/20/2007 10:12:24 AM PDT by Admin Moderator. [history]

Fresh economic shocks on the scale of the current credit squeeze will occur if US house prices continue to fall, one of the country’s leading housing experts warned on Wednesday.

Robert Shiller, a Yale university economist, told a US congressional panel that he feared “the collapse of home prices might turn out to be the most severe since the Great Depression”.

“The decline in house prices stands to create future dislocations, like the credit crisis we have just seen,” he told the Senate’s joint economic committee.

The warning underlines an increasingly widespread view that the turmoil in financial markets and tightening lending conditions are early consequences of a slump in the US housing market that is gathering momentum.

Warning signs There were fresh signs of weakness ahead for the US housing sector as figures showed applications for building permits fell to a 12-year-low.

Housing starts also dropped to the lowest level since June 1995, declining 2.6 per cent to an annual rate of 1.331m units.

The decline in construction activity appeared to be spreading to the north-east, where starts were 38 per cent lower.

Patrick Newport, an economist at Global Insight, said: “The eye of the storm is just ahead.”

But investors were cheered by the prospect of future interest rate cuts, as consumer price figures suggested a moderate inflation trend.

The government’s consumer price index fell last month by 0.1 per cent as prices at the pump dropped by nearly 5 per cent.

Core prices increased by 0.2 per cent. But the annual underlying inflation rate edged down to a 17-month low of 2.1 per cent from 2.2 per cent.


TOPICS: Business/Economy; Government; Miscellaneous
KEYWORDS: gmgoodwrench; housingbubble; meineke; midas; searsautocenter; two; vulturegram
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1 posted on 09/20/2007 8:49:58 AM PDT by Hydroshock
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To: Hydroshock

I am still hoping for the epic beer market.


2 posted on 09/20/2007 8:52:16 AM PDT by Always Right
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To: Hydroshock

Didn’t we just see this on another thread?


3 posted on 09/20/2007 8:56:02 AM PDT by RightWhale (Snow above 2000', oil above 82: unexplained)
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To: Always Right

No I am hoping the coming recession does not become a depression.


4 posted on 09/20/2007 8:56:53 AM PDT by Hydroshock ("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
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To: Always Right
I am still hoping for the epic beer market.

I'm hoping for an epic shot and a beer market.

5 posted on 09/20/2007 8:57:20 AM PDT by NeoCaveman (Hillary 2008: "The willing suspension of disbelief")
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To: Hydroshock

I agree hydro and I think we’re heading into some difficult times - really difficult times.


6 posted on 09/20/2007 8:58:47 AM PDT by mek1959
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To: Hydroshock

A collapse in housing prices would make it easier for me to buy a house. Of course, it would suck for those who already have bought one...


7 posted on 09/20/2007 9:01:24 AM PDT by JamesP81
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To: RightWhale
Didn’t we just see this on another thread?

I think Hydroshock has posted every article that was written by or makes reference to Robert Shiller. They are all the same, going back to 1973 I would imagine.

8 posted on 09/20/2007 9:01:49 AM PDT by Always Right
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To: mek1959

My wife and I have been accelerating our paying off bills and putting money in the savings. I also am keeping a closer eye on our investments. Despite what some of the hecklers on this and other threads may think the current economic climate screams for caution.


9 posted on 09/20/2007 9:02:04 AM PDT by Hydroshock ("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
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To: Hydroshock
Robert Shiller, a Yale university economist

Left-wing/socialist/skull-and-bones/dim shill credibility comes from where, when, who, how, why???

10 posted on 09/20/2007 9:02:18 AM PDT by BlabItGrabIt (He Became Poor, So WE Might Be Rich :))
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To: NeoCaveman
I'm hoping for an epic shot and a beer market.

Mixing shots and beer could really lead to difficult times the next morning.

11 posted on 09/20/2007 9:02:57 AM PDT by Always Right
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To: Hydroshock

Why do we fight inflation everywhere else, but want inflation in the cost of housing?


12 posted on 09/20/2007 9:03:39 AM PDT by CharlesWayneCT
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To: JamesP81

Cash is king, debt is teh ugliest 4 letter word there is, and never be over leveraged in anything if you have to use credit. These 3 thoughts have served my family well in boom and bust for 3 generations


13 posted on 09/20/2007 9:03:55 AM PDT by Hydroshock ("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
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To: Hydroshock
There's a very good article in today's Wall Street Journal (front page) on this very item. Scary to me.
14 posted on 09/20/2007 9:05:22 AM PDT by Zuben Elgenubi
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To: Hydroshock
Housing starts also dropped to the lowest level since June 1995, declining 2.6 per cent to an annual rate of 1.331m units

but..but...1995 was in the midst of the greatest economy of all times...Clintonomics, dont you know ? Now, if you really need a sarcasm tag....

June 1995:

Fed Funds = 6.0%
Mortgage Rates = 7.5% (30 yr fixed)
Unemployment = 5.6%

August 2007:

Fed Funds = 5.25%
Mortgage Rates = 6.5% (30 yr fixed)
Unemployment = 4.6%
15 posted on 09/20/2007 9:05:44 AM PDT by stylin19a (Go Bears !)
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To: BlabItGrabIt

OHHHHH the humanity, this guy is more of a hack then greenshit


16 posted on 09/20/2007 9:07:21 AM PDT by italianquaker (Is there anything Ron Paul doesn't blame the USA for?)
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To: Hydroshock

Aw c’mon man. The whole we’re Doooomed (tm) thing is really old with the whole housing market. The housing is less than 10% of the GDP, if it were to go to 0.00 there wouldn’t be a ‘depression’. And it’s not all that likely we’ll even have a recession. The markets are certainly not pricing that in.


17 posted on 09/20/2007 9:10:36 AM PDT by farlander (Try not to wear milk bone underwear - it's a dog eat dog financial world)
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To: Hydroshock

As any other economic climate... In my humble opinion, there is never a time one should make hasty decisions on investments, and getting rid of debt is something everyone should strive for no matter what economic climate we’re in.


18 posted on 09/20/2007 9:15:24 AM PDT by farlander (Try not to wear milk bone underwear - it's a dog eat dog financial world)
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To: Hydroshock

I wish that I could figure out a way to make money off of you naysayers! It is as if many of you want America’s economy to fail... excuse me... someone already posted that they are hoping it will!

LLS


19 posted on 09/20/2007 9:20:50 AM PDT by LibLieSlayer (Support America, Kill terrorists, Destroy dims!)
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To: Hydroshock

“Patrick Newport, an economist at Global Insight, said: “The eye of the storm is just ahead.” “

An odd quote: The eye is dead calm. Immediately preceding it is the forward eye wall, the worst. Usually once a storm escapes the tropics, the lagging eye wall (after the eye) isn’t nearly as bad as the forward eye wall, and the lagging spirals are a complete dud.


20 posted on 09/20/2007 9:20:51 AM PDT by dangus
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To: CharlesWayneCT

Because those who are the “we” got their home already, and want to pull the ladder up after themselves.


21 posted on 09/20/2007 9:22:30 AM PDT by dangus
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To: CharlesWayneCT

(Doncha hate all those people who bought at $200,000, saw their property peak at $800,000, and are ruinously miserable because they can only sell for $790,000?)


22 posted on 09/20/2007 9:25:09 AM PDT by dangus
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To: LibLieSlayer

>> I wish that I could figure out a way to make money off of you naysayers! <<

Ummm... there is: Buy their homes.


23 posted on 09/20/2007 9:26:14 AM PDT by dangus
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To: JamesP81

I’ve got a house and it won’t suck for me. The mortgage gets paid off in less than 10 years, and most importantly it’s a fixed-rate mortgage. OK, I’m being redundant. Fixed-rate is the only kind there is. Everything else is gambling or rent. We have firm roots where we are and don’t plan to move. The value may drop slightly but it’s unlikely to drop below the balance of our mortgage at this point.

The housing market is cyclical, just like the stock market. It may have a blip where it goes down, but eventually home values rebound and exceed the previous high point. And like the stock market, you should take the long term view and not the short term panic.

There are other far more serious flaws with our economic health. Budget deficits, underfunded socialistic security mandates, trade deficits, the failure of the education system to turn out productive citizens, loss of manufacturing base, dependence on foreign energy sources not friendly to the interests of the US, the uncontrolled influx of immigrants who will be a net economic drain, crippling environmental regulation and plaintiff products liability litigation are some just to go off the top of my head.


24 posted on 09/20/2007 9:26:44 AM PDT by henkster (The dems have reserved your place on the collective farm.)
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To: farlander; Hydroshock
Aw c’mon man. The whole we’re Doooomed (tm) thing is really old with the whole housing market. The housing is less than 10% of the GDP, if it were to go to 0.00 there wouldn’t be a ‘depression’. And it’s not all that likely we’ll even have a recession. The markets are certainly not pricing that in.

((((crickets))))

BigMack

25 posted on 09/20/2007 9:28:02 AM PDT by PayNoAttentionManBehindCurtain
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To: Hydroshock; RightWhale

Didn’t the FT publish a story in August saying the market was going to collapse after the Labor Day holiday, then we would know the full extent of ‘housing crises’???

Did the ‘housing crises’ used to be called supply and demand??

These people are trying to talk down the US economy


26 posted on 09/20/2007 9:32:42 AM PDT by Perdogg (Look out! The juice is on the loose)
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To: Hydroshock
I am not saying that we have repealed the business cycle, but we keep hearing doom and gloom from everybody from the doomicrats and the gold peddlers that doesn’t pan out.

People are responsible for their finances and if you give money to people who cannot pay it back, or, you buy too much house you cannot afford, well, that’s life.

27 posted on 09/20/2007 9:35:34 AM PDT by Perdogg (Look out! The juice is on the loose)
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To: Perdogg

“These people are trying to talk down the US economy.”

You get a gold star on your forehead for the best performance of the day. That is exactly what they are trying to do.

Our economy is extremely strong and will continue so for a long time. The big probblem we have is that homes in Cali and the Northeast are over priced. That is it. It will be corrected.


28 posted on 09/20/2007 9:37:09 AM PDT by TexanToTheCore (If it ain't Rugby or Bullriding, it's for girls.........................................)
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To: CharlesWayneCT
Why do we fight inflation everywhere else, but want inflation in the cost of housing?

Because people like the idea of something from nothing. They pat themselves on the back for being clever, while inflation is doing the dirty work.

Who really needs a Dollar to hold it's value when there is free money avsilisble?

29 posted on 09/20/2007 9:39:01 AM PDT by Mark was here (Hard work never killed anyone, but why take the chance?)
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To: Hydroshock

Agreed. We’re also trying to pay off our mortgage and hopefully, will have it finished by the end of 2009. Good luck to you with your plans.


30 posted on 09/20/2007 9:51:30 AM PDT by mek1959
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To: All
http://money.cnn.com/2007/09/19/real_estate/steep_home_price_drops_coming/index.htm?postversion=2007091915

100 largest metro areas by population that are forecast to witness a decline in the median existing single-family house price
Rank Area State Peak Bottom Peak to bottom
home price decline
1 Stockton CA 06Q1 08Q4 -25.0
2 Palm Bay-Melbourne-Titusville FL 06Q1 08Q4 -24.9
3 Sarasota-Bradenton-Venice FL 06Q1 08Q3 -24.8
4 Reno-Sparks NV 06Q1 09Q1 -22.4
5 Modesto CA 06Q2 08Q3 -22.3
6 Detroit-Livonia-Dearborn MI 05Q3 09Q1 -21.3
7 Fresno CA 06Q2 09Q1 -20.0
8 Oxnard-Thousand Oaks-Ventura CA 06Q2 08Q3 -19.2
9 Sacramento--Arden-Arcade--Roseville CA 06Q1 08Q4 -19.1
10 Las Vegas-Paradise NV 06Q2 08Q4 -18.7
11 Deltona-Daytona Beach-Ormond Beach FL 06Q1 08Q3 -17.9
12 Phoenix-Mesa-Scottsdale AZ 06Q2 08Q2 -17.8
13 Hartford-West Hartford-East Hartford CT 07Q1 08Q4 -17.6
14 Cape Coral-Fort Myers FL 06Q1 08Q4 -17.3
15 Visalia-Porterville CA 06Q2 08Q4 -16.1
16 Riverside-San Bernardino-Ontario CA 07Q1 09Q2 -15.9
17 Bethesda-Gaithersburg-Frederick MD 06Q2 08Q4 -15.9
18 Lansing-East Lansing MI 05Q3 09Q1 -15.7
19 Bakersfield CA 06Q2 09Q1 -15.6
20 Warren-Farmington Hills-Troy MI 05Q4 09Q1 -15.4
21 Newark-Union NJ-PA 07Q1 08Q4 -15.4
22 Vallejo-Fairfield CA 06Q1 09Q2 -15.3
23 Orlando-Kissimmee FL 07Q1 09Q1 -15.1
24 Santa Rosa-Petaluma CA 06Q1 08Q4 -14.0
25 Poughkeepsie-Newburgh-Middletown NY 06Q2 08Q3 -13.9
26 Edison NJ 06Q3 08Q4 -13.3
27 Worcester MA 05Q4 08Q3 -13.0
28 Baltimore-Towson MD 07Q2 09Q2 -12.8
29 Peabody MA 05Q4 08Q3 -12.5
30 Nassau-Suffolk NY 07Q2 09Q1 -12.3
31 West Palm Beach-Boca Raton-Boynton Beach FL 06Q1 08Q3 -12.2
32 Tampa-St. Petersburg-Clearwater FL 06Q4 08Q3 -11.7
33 Tucson AZ 06Q2 08Q4 -11.7
34 Santa Ana-Anaheim-Irvine CA 06Q2 09Q1 -11.6
35 Washington-Arlington-Alexandria DC-VA-MD-WV 07Q3 09Q4 -11.5
36 Fort Lauderdale-Pompano Beach-Deerfield Beach FL 06Q1 08Q4 -11.5
37 Flint MI 06Q1 08Q2 -11.3
38 Cleveland-Elyria-Mentor OH 05Q3 07Q4 -11.3
39 San Diego-Carlsbad-San Marcos CA 06Q1 08Q4 -10.9
40 Los Angeles-Long Beach-Glendale CA 07Q3 09Q1 -10.6
41 Oakland-Fremont-Hayward CA 07Q3 08Q4 -10.3
42 Portland-South Portland-Biddeford ME 06Q1 08Q3 -10.2
43 Rockingham County-Strafford County NH 06Q1 08Q3 -10.2
44 Miami-Miami Beach-Kendall FL 07Q2 08Q4 -9.9
45 Boston-Quincy MA 05Q3 08Q4 -9.4
46 Providence-New Bedford-Fall River RI-MA 06Q1 08Q3 -9.4
47 New Orleans-Metairie-Kenner LA 06Q2 07Q3 -9.4
48 Wilmington DE-MD-NJ 06Q3 08Q3 -9.2
49 Cambridge-Newton-Framingham MA 05Q3 08Q3 -9.0
50 Youngstown-Warren-Boardman OH-PA 05Q1 07Q4 -8.7
51 Toledo OH 05Q4 07Q4 -8.3
52 Salinas CA 07Q3 08Q4 -8.1
53 Colorado Springs CO 07Q1 08Q3 -7.8
54 Boise City-Nampa ID 07Q2 08Q4 -7.7
55 Winston-Salem NC 05Q2 07Q4 -7.6
56 Denver-Aurora CO 06Q2 08Q3 -7.6
57 Lakeland FL 07Q2 08Q3 -7.5
58 Portland-Vancouver-Beaverton OR-WA 07Q3 08Q4 -7.2
59 Pensacola-Ferry Pass-Brent FL 06Q1 08Q3 -7.0
60 New Haven-Milford CT 07Q3 08Q3 -6.7
61 Jacksonville FL 07Q3 08Q3 -6.4
62 Camden NJ 07Q2 08Q3 -6.3
63 Minneapolis-St. Paul-Bloomington MN-WI 06Q3 09Q2 -6.0
64 Albuquerque NM 07Q3 08Q3 -5.9
65 Tacoma WA 07Q3 08Q3 -5.5
66 New York-White Plains-Wayne NY-NJ 07Q3 08Q4 -5.3
67 Grand Rapids-Wyoming MI 05Q4 07Q3 -5.3
68 Bridgeport-Stamford-Norwalk CT 07Q3 08Q4 -5.1
69 Lexington-Fayette KY 06Q1 08Q1 -5.1
70 Fayetteville-Springdale-Rogers AR-MO 06Q2 07Q4 -4.6
71 San Jose-Sunnyvale-Santa Clara CA 07Q3 08Q4 -4.4
72 Virginia Beach-Norfolk-Newport News VA-NC 07Q3 08Q3 -4.1
73 Columbus OH 05Q4 07Q1 -3.7
74 Dayton OH 06Q4 07Q3 -3.7
75 Indianapolis IN 05Q3 06Q4 -3.7
76 Provo-Orem UT 07Q3 08Q3 -3.6
77 Chattanooga TN-GA 06Q3 07Q4 -3.5
78 Tulsa OK 06Q3 07Q4 -3.4
79 Salt Lake City UT 07Q3 08Q3 -3.4
80 Allentown-Bethlehem-Easton PA-NJ 07Q3 08Q4 -3.3
81 Philadelphia PA 07Q3 08Q3 -3.1
82 Lake County-Kenosha County IL-WI 06Q3 08Q2 -3.1
83 Wichita KS 07Q1 07Q4 -2.9
84 Seattle-Bellevue-Everett WA 07Q3 08Q3 -2.9
85 Ogden-Clearfield UT 07Q3 08Q3 -2.9
86 Milwaukee-Waukesha-West Allis WI 06Q3 07Q1 -2.9
87 Birmingham-Hoover AL 06Q3 07Q3 -2.9
88 Jackson MS 06Q3 07Q4 -2.9
89 Richmond VA 07Q2 10Q3 -2.8
90 Cincinnati-Middletown OH-KY-IN 05Q3 07Q2 -2.8
91 San Francisco-San Mateo-Redwood City CA 07Q3 08Q2 -2.7
92 Albany-Schenectady-Troy NY 07Q2 07Q4 -2.7
93 Springfield MA 07Q3 08Q2 -2.6
94 Spokane WA 07Q3 08Q3 -2.6
95 Omaha-Council Bluffs NE-IA 06Q2 07Q4 -2.1
96 Kansas City MO-KS 06Q1 07Q2 -2.0
97 McAllen-Edinburg-Mission TX 05Q1 07Q2 -2.0
98 Fort Worth-Arlington TX 06Q2 07Q1 -1.9
99 Oklahoma City OK 07Q3 07Q4 -1.6
100 Memphis TN-MS-AR 06Q2 07Q3 -1.1

31 posted on 09/20/2007 9:57:45 AM PDT by finnman69 (cum puella incedit minore medio corpore sub quo manifestu s globus, inflammare animos)
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To: finnman69

Hey, I’m in the top 30 market, that’s great! Bring on the housing pricing drops since I don’t have one yet.


32 posted on 09/20/2007 10:22:28 AM PDT by fightinbluhen51
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To: Perdogg

The world should be so simple. The Red Sox appear to be in collapse in spite of the $100 million injection of pitching. This is a model of the world economy. The main effect of the injection of the 50 basis points appears to be the $EU at 1.41.


33 posted on 09/20/2007 10:27:25 AM PDT by RightWhale (Snow above 2000', oil above 82: unexplained)
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To: finnman69

Why, I don’t see Dallas - Collin County TX on this list at all.

Does this mean I’m not doomed?


34 posted on 09/20/2007 10:42:07 AM PDT by L,TOWM ("Protesting Clinton's wars was'nt cool..." - Jeneane Garafolo, 2003)
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To: JamesP81

Might also sink the economy to where you won’t have a job with which to buy said house.


35 posted on 09/20/2007 10:42:59 AM PDT by RockinRight (Can we start calling Fred "44" now, please?)
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To: JamesP81

Might also sink the economy to where you won’t have a job with which to buy said house.


36 posted on 09/20/2007 10:43:00 AM PDT by RockinRight (Can we start calling Fred "44" now, please?)
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To: Hydroshock

Being I am dollar cost averaging at this time, I prefer a down market, brings down my average cost.


37 posted on 09/20/2007 10:44:58 AM PDT by Son House ($$Proud Memeber of Vast Right Wing, Out To Lower Your Tax Rates For More Opportunities.$$)
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To: Always Right

If you go here:

http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/0,0,0,0,0,0,0,0,0,1,1,0,0,0,0,0.html

and click on:
“S&P/Case-Shiller® Home Price Indices Methodology”

you will find on page 6:

“...These sales pairs are further examined to eliminate outliers that might distort the calculations. Outliers include...suspected data errors where the order of magnitude in values appears unrealistic.”

==> In other words, if the actual numbers “appear unrealistic” to the statisticians, they are ignored. Hmmm... I wonder if THESE statisticians are less biased than the “global warming” statisticians....

You will also find on page 7:

“...The Weighting of Sales Pairs

The indices are designed to reflect the average change in all home prices in a particular geographic market. However, individual home prices are used in these calculations and can fluctuate for a number of reasons. In many of these cases, the change in value of the individual home does not reflect a change in the housing market of that area; it only
reflects a change in that individual home. The index methodology addresses these concerns by weighting sales pairs...”

==> In other words, if the price “increase” for a particular house is above what the statisticians expect, then that increase will be given less “weight” in the overall calculation of change.

My conclusion: The S&P/Case-Schiller “index” of price changes in real estate is about as valid as an “index” prepared by Lewis Carroll’s “Queen of Hearts”.

Or my garbageman...


38 posted on 09/20/2007 10:57:39 AM PDT by pfony1
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To: Hydroshock

I am hoping we can avoid 70s style economic hardship with massive inflation. But much more than that, if we do return to return to 70s style economic hardship, I am HOPING and PRAYING we do not see a return to Disco music because then I would have to kill myself!


39 posted on 09/20/2007 12:55:15 PM PDT by Freedom_Is_Not_Free
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To: Freedom_Is_Not_Free

Don’t even get me started on leisure suits.


40 posted on 09/20/2007 12:56:37 PM PDT by Hydroshock ("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
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To: Hydroshock

IF, MIGHT?

Hahah this guys an optimist.

There is no doubt prices will continue to fall, and the credit bubble will continue to deflate with massive consequences around the world.

The only question left is how fast and how long the deflation is going to take.. if its slow enough, we’ll just have a flat economy/recession for a good longwhile.. if its rapid, we’ll have a global depression.


41 posted on 09/20/2007 1:00:23 PM PDT by HamiltonJay
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To: TexanToTheCore
Our economy is extremely strong and will continue so for a long time.

Ah, so THAT is why the FED just slashed the prime rate by 50 basis points! The economic outlook is so strong, they just wanted to make it even stronger.

42 posted on 09/20/2007 1:02:09 PM PDT by Freedom_Is_Not_Free
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To: HamiltonJay

Yep, I sadly agree.


43 posted on 09/20/2007 1:07:27 PM PDT by Hydroshock ("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
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To: Hydroshock

I’m having 70s flashbacks. NOT GOOD. Somebody get me a Vallium, slap me, electroshock therapy. Anything!

I’ve tried to purge the 70s from my mind and now the Fed slashing rates, talks of recession, stagflation and the crashing of the dollar are all sending me back into 70s flashbacks. Next thing you know, I’ll be collecting Pintos and Gremlins.

Aaaaaaarrrghhhhblleppffffffftttt!

OK, I’m better now. NO MORE TALK OF LEISURE SUITS, Donna Summer, or maxi dresses or...


44 posted on 09/20/2007 1:10:15 PM PDT by Freedom_Is_Not_Free
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To: Freedom_Is_Not_Free

Actually, with everyone working it should be cranking over at a slightly higher growth rate as has been noted by a number of people.

This rate decline is not a sign that we are going to tank. It is merely trying to tune the economy upward. If the housing sector begins to do well again, you will definitely see an increase in the growth rate.


45 posted on 09/20/2007 1:21:48 PM PDT by TexanToTheCore (If it ain't Rugby or Bullriding, it's for girls.........................................)
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To: mek1959

is there a place or a thread for people to talk about “safe” investing and preparation in case, just in case, we do have a recession/depression/weather front or whatever?


46 posted on 09/20/2007 1:27:03 PM PDT by cherry
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To: Freedom_Is_Not_Free

“NO MORE TALK OF LEISURE SUITS”

Mini-skirts, however, remain in play.


47 posted on 09/20/2007 1:30:10 PM PDT by TexanToTheCore (If it ain't Rugby or Bullriding, it's for girls.........................................)
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To: Freedom_Is_Not_Free
you'll have to pull out your "win" button......

I'll bet a lot of freepers don't remember that ( either they were too young or are now too senile...)

48 posted on 09/20/2007 1:30:23 PM PDT by cherry
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To: dangus

“I wish that I could figure out a way to make money off of you naysayers!”

Sell them gold. Get them prepared for “The Coming Recession”.


49 posted on 09/20/2007 1:32:16 PM PDT by TexanToTheCore (If it ain't Rugby or Bullriding, it's for girls.........................................)
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To: Hydroshock
It is prudent to be cautious at all times.......Not just when every pundit in the MSM/DBM is screaming it.

Learn how to short.

Or buy QID, SDD..or any number of other short vehicles.

50 posted on 09/20/2007 1:46:31 PM PDT by Osage Orange (Hillary's heart is darker than the devil's riding boots..............)
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