Economy
 

While Obama and his cronies tell us how well the economy is recovering thanks to their genius work, things just sink lower and lower...

http://money.cnn.com/2010/08/24/real...ng_home_sales/

The housing market is now doing the exact same thing the auto market did after the 'clunkers' hand-out "stimulus" program. This crap isn't enticing anyone to buy that wasn't planning on it, it's just making them buy sooner leading to a drought afterward!

Re: Economy
 

YAy!
TX or canada don't seem bad at this point.

Re: Economy
 

My friend shared this earlier today.

Bye bye economy, it was nice knowing you. :(

Re: Economy
 

All the markets have tanked today. Good work Obama and team.

Re: Economy
 

The whole housing market of the 2000s was nothing but a bubble, it wasn't normal. It will probably never be anything like that again. A lot of artificial wealth was gained and lost and borrowed against. Some people got out at the right times and made money, while a lot of people found out that maybe they shouldn't be living in a McMansion and driving a Lexus. It's going to be hard to have a real economy when the US doesn't want to actually make anything or do any manual labor. Not everybody can have a high paying job as a middle manager, sales person, working with imaginary money, etc, eventually a few end up with most of the money or it makes it's way out of the country.

Re: Economy
 

Exactly, and until the market corrects itself, we're in for a bumpy ride. Surprisingly, the housing market in my neighborhood has been getting better, and there's actually a lot of new construction, which hadn't happened for a good three years.

Re: Economy
 

True, all that the obama stimulus was doing was softening the blow, so it didnt just tank and stay tanked. The government had to do something. they cant make people buy, the people have to feel confident enough to buy. Also what the credits did is entice people who were waiting for the housing prices to go FURTHER down buy sooner as if the house just went down another 8000 bucks.

Re: Economy
 

Which is what they're doing now. I won't lie, I took the $8k since it was being handed out like candy and figured it would help recoup some of what's already been taken from me, but it had nothing to do with our decision to purchase a home and I don't agree with it one bit.

Re: Economy
 

Then give it back. :) or give it to me.

Re: Economy
 

I like money in my pocket, I'm keeping what was once mine anyway :) You think it would be easier to just not take it in the first place, but what do I know...

Re: Economy
 

Forget gold or paper, invest in lead

http://img216.imageshack.us/img216/358/ll007zy2.jpg

Re: Economy
 

Re: Economy
 

http://newyork.cbslocal.com/2010/08/...test-vacation/

Re: Economy
 

I was one of the people that was on the fence to buy a home, but the free money helped us make the decision. While I am happy we made the call, I wish we weren't stuck in our current place for the next two years. I would already like to purchase another home, but do not feel like giving back the $8000.

Hopefully the market won't tank enough to where we are underwater on our mortgage. We are into our neighborhood a full six figures under our neighbors, so here is to hoping!

Re: Economy
 

Good luck. :(

Re: Economy
 

Tax credits and incentives are nothing more than injecting money back into the market that never should have been taxed out of it in the first place. If your damn over all tax rates weren't so high (add up all the taxes you pay) none of this would matter, you would have money to buy and do the things you want. This is the man reason why the founders knew that taxing income would hurt the population, and they were right.

Re: Economy
 

Great read:

http://politics.usnews.com/opinion/m...s-history.html

Re: Economy
 

A good read about the distribution of wealth in our country, how it really is, how people think it is, and what people think it should be.

http://www.theatlantic.com/national/...society/63582/

Re: Economy
 

Another financial mind who doesn't believe that we are out of the recession.

http://seattletimes.nwsource.com/htm...s_over_te.html

Re: Economy
 

The recession was predicted in 2006-2007 and this guy was laughed at. Meet Peter Schiff.


http://www.youtube.com/watch?v=2I0QN-FYkpw&hd=1

More proof that most everyone has their head in the clouds and is completely oblivious as to what is really going on.