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Business News Or Just Bad News...

 
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Old 07-16-2011, 10:45 AM   #1
 
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Business News Or Just Bad News...


Sometimes I ask myself, why read the news..........

http://www.moneynews.com/Headline/ga...mo_code=C9EB-1
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Old 07-16-2011, 10:52 AM   #2
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Re: Business News Or Just Bad News...


I've stopped reading the business section, I just can't take it anymore. Who else here looked at their finances in 2008 and said "I'm ok, I can hold out at least 4 years"

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Old 07-16-2011, 11:02 AM   #3
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Re: Business News Or Just Bad News...


What I don't care for in Gary Shilling's article(s) is his broad view on everything. Markets are local and real estate especially. Trying to paint eveything with such a broad brush doesn't hold so much credibility in my opinion.
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Old 07-17-2011, 05:28 AM   #4
 
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Re: Business News Or Just Bad News...


I agree real estate is all about location and some states are doing better than others. In general though he's right on so far on allot of his views.

The problem we see here is although lots contractors here are busy the cost of goods, business fees, taxes, and 90% of contractors willing to work for way less isn't helping either. The general mood of the area is glum and the media feeds the negativity..
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Old 07-17-2011, 09:06 AM   #5
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Re: Business News Or Just Bad News...


Very true. Lets face it there is a lot to be negative about. I'm at the point I'm just burying my head in the sand and pretending it's going to be okay. Everyday I try to do whatever I can to do things or make moves that are positive steps for the goals I have. You can't do a lot of thinking and analyzing everything because if you do you''ll just bury yourself in negativity.
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Old 07-17-2011, 11:13 AM   #6
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Re: Business News Or Just Bad News...


When you manipulate money for a financial gain in the present, you will eventually have to pay the price. Fanny Mae, & bankers (due to gov't laws, & incentives) made loans that weren't viable. A large percentage of these loans were borderline at best. They were too high of a risk. This coupled with nost homes having virtually all of their
equity drawn out for new cars, school funds, vacation homes, ect, left most upside down on their homes. The energy crunch was all that was needed to put us over the edge.
Now as a fix we have bailed out the mort companies, bailed out major ins companies, bought GM & Chrysler (just to prop up the UAW), & pissed away what little money this country had left. It's been good money after bad as a matter of policy. We should have let these companies fail, just like we would if we made bad decisions. We need an honest outlook as to why these things happened, but that's not how politicians get elected. Our gov't simply spends more than it takes in, & higher taxes will only make this country less competitive in the global markets. In the past we could raise tariffs to protect our companies, but that day has past, as it should have.

We need to be pro business, to be more competitive, not pro govt. We need more creation of wealth, & that only comes from manufacturing. All other business is in support of this sector. The way I look at it, all non manuf work, is just an overhead to the creation of wealth. We can't all be bean counters, because their aren't enough beans being grown. The best way I can explain this is to imagine an island with all lawyers. Where would the money come from to operate with? It takes a balanced system to work.

I live in a comunity that spends huge bucks to buy up "Greenspace". Most of this is unbuildable property that the owner wants to unload. The way I see it, we pay big taxes so we can buy property, just to take it out of the tax base. We now have Greenspace , but have to drive some on the worst roads in our city. It's actually embarassing to me, because when I was growing up, this area had the best raods around.
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Old 07-17-2011, 11:38 AM   #7
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Re: Business News Or Just Bad News...


Schilling's forecast is nothing new..i had a plain old mortage broker thell me this back in May 10...

end fo 2011 into 2012 was expecting a crash in the real estate market..anothher major shake out..

so my point is..this must be common knowledge coming from somewhere.

bottomline is the economy is still ****...

some doing ok..some doing well..but most struggling....its all smoke and mirrors..
getting closer to election time, im sure we will be bombarded with positive news
and numbers..there will be a surge in employment lessening unemployment, the CPi will have increased, and housing starts will be at an all time high...or "up 22% from the same time year prior"...

it will all be smoke and mirrors..
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Old 07-17-2011, 11:40 AM   #8
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Re: Business News Or Just Bad News...


oh...and of course troops being withdrawn...

which actually may benefit the economy..at least spark the markets..
but is it really time?( a topic for another day)
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Old 07-17-2011, 12:07 PM   #9
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Re: Business News Or Just Bad News...


My wife and I ****canned "television" 6 years ago and I have never looked back!!!! The US media profits of of "train wrecks". O.J., Madoff, Housing crisis...............blah,blah,blah. It's like High School, ...you can get all caught up in the social clicks , "after school fights", all the new school restrictions" this year" or you can keep your head down and better YOURSELF.
I have lived in California more than forty years, we are the epi- center of circus side shows, construction boons and wanes, not to mention one of the major gate ways for unskilled labor.
At this point in my career I earn my living doing medium to high end custom work. 2010 was the first time in my career that my phone stopped ringing. Rather than point my finger, drink beer and whine, I instead put my head down and went after work that i don't normally do, in particular termite repair on homes; I also joined a local networking group.
Flash forward to today and I'm the busiest I've ever been.
Sure when I visit my suppliers I see it and I hear it.... but rather than get caught up, I grab what I gotta grab, and i haul ass back to my job and work as late as my clients will allow so that i can pour my own positive energy into the next one sooner rather than later. Hope that helps... good luck
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Old 07-17-2011, 12:08 PM   #10
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Re: Business News Or Just Bad News...


sorry about the poor editing^^^
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Old 07-17-2011, 12:16 PM   #11
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Re: Business News Or Just Bad News...


Quote:
Originally Posted by Railman View Post
I live in a comunity that spends huge bucks to buy up "Greenspace". Most of this is unbuildable property that the owner wants to unload. The way I see it, we pay big taxes so we can buy property, just to take it out of the tax base. We now have Greenspace , but have to drive some on the worst roads in our city. It's actually embarassing to me, because when I was growing up, this area had the best raods around.
Common sense today should be renamed to uncommon sense, because it really is uncommon.
Joe
I have to give Colorado credit. We buy greenspace by using the revenue generated by the state lottery. Greenspace is very important to quality of life, so I'm glad we live in a state that goes about getting it the right way.

Colorado passed some laws about a decade ago where the state can't pass new taxes without them being approved by the voters, I came from NY state where they tax you on you taxes, coming here was a refreshing difference. Of course the democrats every single year try to get the law over turned without fail, but the voters tell them to go suck it and we've kept the law in place so far. But as the state has gone more and more liberal unfortunatly they get a step closer each year to being successful at their attemps.

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