Casper Posted January 15, 2008 Report Share Posted January 15, 2008 Overall wholesale inflation rose 6.3 percent in 2007, the government said, the worst annual increase in 26 years. http://money.cnn.com/2008/01/15/markets/markets_0100/index.htm?cnn=yes Quote Link to comment Share on other sites More sharing options...
SpaceGhost Posted January 15, 2008 Report Share Posted January 15, 2008 So we will be in the same boat at the end of Bush's 2nd term as when he came in on his 1st Term. Sweet. Quote Link to comment Share on other sites More sharing options...
87GT Posted January 15, 2008 Report Share Posted January 15, 2008 I lost money in my 401K in the 4th fucking quarter. Quote Link to comment Share on other sites More sharing options...
twistedfocus1647545489 Posted January 15, 2008 Report Share Posted January 15, 2008 I lost money in my 401K in the 4th fucking quarter. Me too. Quite a bit. It was the worst drop I have seen since I started the plan. Quote Link to comment Share on other sites More sharing options...
Supplicium Posted January 15, 2008 Report Share Posted January 15, 2008 So we will be in the same boat at the end of Bush's 2nd term as when he came in on his 1st Term. Sweet. This problem has been hiding for decades. Companies have been loaning people retarded amounts of money to people who had no chance of making the payments. It finally caught up. Bank loans you 50k for a Escalade, 6months you beat it up, put 10k miles on it, its worth 30k and you cant make the payments so the bank takes it but cant get their money back is just an example of the 100,000 caddies out there for sale. Thats not the only reason but a huge factor (over the past 20 years), I'd say close to as much as the current war impact. Quote Link to comment Share on other sites More sharing options...
Drewhop Posted January 15, 2008 Report Share Posted January 15, 2008 Blame Canada Quote Link to comment Share on other sites More sharing options...
Casper Posted January 15, 2008 Author Report Share Posted January 15, 2008 This problem has been hiding for decades. Companies have been loaning people retarded amounts of money to people who had no chance of making the payments. It finally caught up. Bank loans you 50k for a Escalade, 6months you beat it up, put 10k miles on it, its worth 30k and you cant make the payments so the bank takes it but cant get their money back is just an example of the 100,000 caddies out there for sale. Thats not the only reason but a huge factor (over the past 20 years), I'd say close to as much as the current war impact. The housing market and the war hurt the most. The housing market has been ridiculous. Joe Blow makes $35k/yr. Let's loan him $250k to buy a house. That makes fucking sense. The war has caused the country to be grossly in debt to other countries. The value of the dollar is dropping every day. At what point does China just say fuck it and buy us? Laughing? They've been buying up all of our debts for years now. That's not good. So, where will this leave us in five to ten years? Learning Chinese? Possibly if this shit isn't brought under control. We need to get our soldiers home. All of them. We are spread so thin in the US right now we couldn't defend ourselves against an attack from Canada. We're spending so much money overseas, but we need to be spending it here in our own country. The quality of American products sucks just about as bad as Chinese products these days, minus the lead. No wonder nobody buys American anymore. But why are so many Americans buying Chinese products? They're cheaper. We've become this money hungry country. I want the biggest and best for the cheapest. Oh, I can't afford that $250k house right now but I'll be able to in five years. Yeah, go ahead and give me that 5 to 1 arm loan. Fucking idiots. We're drowning ourselves in debt and nobody cares. I still get several pieces of junkmail each day, offering to refinance my house or give me a credit card. Do these people not realize they're just adding to the problems? Yes they do, but they don't care. Its all about the money. Its always just about the money. http://www.ohio-riders.net/images/smilies/rant.gif Quote Link to comment Share on other sites More sharing options...
Sully Posted January 15, 2008 Report Share Posted January 15, 2008 They're gonna cut the interest rate 2 days after I close on my home loan. That sucks!! Quote Link to comment Share on other sites More sharing options...
Bam Posted January 15, 2008 Report Share Posted January 15, 2008 They're gonna cut the interest rate 2 days after I close on my home loan. That sucks!! I'm looking forward to it, I'm going to refi from my 6.5% 30 yr fixed down to a 5.375% 30 year fix, score for me!! But I agree, its a scary thought of what's going on in america, people got so used to debt its sad. I work in a bank and can't count how many people each day I see making the MINIMUM payments on their loans/credit cards that are in the $10's of thousands of dollars. I try and laugh but its not funny anymore, its scary. But its ok, they've got that nice big house, sweet new car, and life is good....... Quote Link to comment Share on other sites More sharing options...
Casper Posted January 15, 2008 Author Report Share Posted January 15, 2008 This is from June.... http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/06/25/cncredit125.xml Quote Link to comment Share on other sites More sharing options...
Sully Posted January 15, 2008 Report Share Posted January 15, 2008 I'm looking forward to it, I'm going to refi from my 6.5% 30 yr fixed down to a 5.375% 30 year fix, score for me!! You're doing a streamline refi, right? Quote Link to comment Share on other sites More sharing options...
87GT Posted January 15, 2008 Report Share Posted January 15, 2008 I'm looking forward to it, I'm going to refi from my 6.5% 30 yr fixed down to a 5.375% 30 year fix, score for me!! What bank is this? I need to refinance my 30 year mortgage if rates are lower then 6.6% Quote Link to comment Share on other sites More sharing options...
Sully Posted January 15, 2008 Report Share Posted January 15, 2008 What bank is this? I need to refinance my 30 year mortgage if rates are lower then 6.6% Oh yeah, rates are much lower. But I would probably wait until February. Rates will be even lower then. Quote Link to comment Share on other sites More sharing options...
Bam Posted January 15, 2008 Report Share Posted January 15, 2008 What bank is this? I need to refinance my 30 year mortgage if rates are lower then 6.6% Chase is currently at 5.375%, or 5.625% for a streamline, both 30 year fixed. Quote Link to comment Share on other sites More sharing options...
Berto Posted January 15, 2008 Report Share Posted January 15, 2008 If rates are under 5.5 I will refi. thats sweet! Quote Link to comment Share on other sites More sharing options...
Lustalbert Posted January 15, 2008 Report Share Posted January 15, 2008 At least my CDs are offseting my tanking stocks. To bad the dollar is becoming worthless. Almost put it all in gold last year Quote Link to comment Share on other sites More sharing options...
Mr.COS Posted January 16, 2008 Report Share Posted January 16, 2008 Rising inflation + Falling Dollar = Bad things man Quote Link to comment Share on other sites More sharing options...
Mowgli1647545497 Posted January 16, 2008 Report Share Posted January 16, 2008 But remember kids: lets all buy homes - its a great investment! Every time! Quote Link to comment Share on other sites More sharing options...
HAOLE Posted January 16, 2008 Report Share Posted January 16, 2008 But remember kids: lets all buy homes - its a great investment! Every time! I laugh every time someone tells me their home is an asset. Quote Link to comment Share on other sites More sharing options...
Skinner Posted January 16, 2008 Report Share Posted January 16, 2008 If rates are under 5.5 I will refi. thats sweet! samw here Quote Link to comment Share on other sites More sharing options...
Tractor Posted January 16, 2008 Report Share Posted January 16, 2008 Markets move up and down and markets have trended upwards since the end of the true recession (late 70's to early 80's for anyone who remembers or will look at a chart.) Just look at a 100 year chart. I see no problem at all until the bottom falls a lot more. All the investor forums I read have been "praying" for the type of correction that we may be on the edge of now. Most all smart investors have had 80% or more of their funds in cash accounts since the 1st quarter of last year and have been waiting for the correction to come so they can pick up stocks at bargains. Just read some forums and see. Sorry about the 401K's guys, but this is why the guy in the 401K meetings preach about staying up to date on your account and making changes as necessary. You can move all the money from the regular stocks into something safer such as bonds any time you want to make the call. Then you can move it back to its usual growth stocks when you feel the market has starting moving upwards again. This type of thing needs to be accessed at least every 6 months and quarterly would be a great idea for the average person. The least you could do is call from time to time and ask the broker if there is anything better you could be doing at the moment. Evan Quote Link to comment Share on other sites More sharing options...
Guest 78novaman Posted January 16, 2008 Report Share Posted January 16, 2008 Chinese inflation is up 6.9% http://news.yahoo.com/s/nm/20080113/bs_nm/china_economy_dc Looks like we are giving them way too much money. Quote Link to comment Share on other sites More sharing options...
caseyctsv Posted January 16, 2008 Report Share Posted January 16, 2008 For the record the Fed lowering the discount rate does not directly effect mortgage rates. The discount rate is a short term rate vs long term for mortgages. Mortgages generally trend in the same direction but not in a 1/1 ratio and not immediately. Quote Link to comment Share on other sites More sharing options...
87GT Posted January 16, 2008 Report Share Posted January 16, 2008 I laugh every time someone tells me their home is an asset. Yeah only if you own it outright. Quote Link to comment Share on other sites More sharing options...
Tractor Posted January 16, 2008 Report Share Posted January 16, 2008 Chinese inflation is up 6.9% Correct and according to the BBC reports we aren't the only ones with housing problems and loan problems. Evan Quote Link to comment Share on other sites More sharing options...
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