It's the Economy Stupid
Dow closes at a record high again.
Jobless rate at the lowest it's been since before Clinton.
Interest rates still at historic lows and inflation is just about non existent.
Jobless rate at the lowest it's been since before Clinton.
Interest rates still at historic lows and inflation is just about non existent.
posted by SCC at 12:03 AM
15 Comments:
That's all great and all but STILL can't afford a house!
Ya, the economy is JUST fine:
Countrywide Financial Corp., the largest U.S. mortgage lender, on Tuesday said it expects to cut staff by more than 2,500 employees to help save more than $500 million as demand for home loans slumps.
The company had already reduced staffing by 847 people from July to September, ending the quarter with 55,564 employees. "Gross layoffs will exceed 2,500 employees," Sambol said.
"This cleansing that takes place as the markets pull back is always healthy in the long run, for both Countrywide and the industry," Mozilo said.
Last week, Washington Mutual, the No. 3 mortgage lender and largest savings and loan, said it has cut 9,742 jobs, or 16 percent, this year. In May the parent of Ameriquest, which lends to people with weaker credit, set plans to lay off 3,800 employees, or one-third of its workforce.
The economy is GREAT!
Here's a video predicting 1.3 MILLION foreclosures for the year 2006!
also at the end, there is a funny piece about Dallas fining dorks for wearing their pants under their a$$....
1.3M forclosures
Economy may be fine but many good jobs are GONE! the rich will get richer on the backs of all us. Look at gasoline it just jumped up 15 cents overnight! The democrats believe that gas should be higher so they can get elected! lets get rid of blago and urkel vote Topinka and Perica time for change lets vote for anyone other that daley but who?
Just wondering> how would this read if H.C. or B.O. was the president?
It's funny how someone just copies an article on Countrywide and takes it as gospel that the economy is in bad shape.
Did you ever stop to think that when the housing market was booming, Countrywide ramped up hiring to accomodate? See, that's the beauty of our economy. When one area slows down, there will be another sector that is growing and need to fill jobs. Just as the technology cycle when bust and then housing cycle got hot. You just got to move on to the next one.
Its understandable. We are in the days of direct deposit that leads to a reduced need for people to process payments.
Its done faster and easier via computer.
We (society) have no one to blame but ourselves for these cuts. We want instant gratitification we want our money, food, etc right now. So why shouldnt corporate America be the same way?
The day might even come when Beat officers respond to calls in which a report would be generated, and instead of doing a G.O.C.R. we hand the complaintant a card with the event#. Complaintant will then call alternate response and do ase report. Free'n up time for the beat car to make more contact cards in the DOC area
what you have now is the calm before the storm.
I will soon own the CPD. Then we will return to being the real police. Sup. Seiser.....I like that. Has a nice ring to it.
First, I'll out source all of the house mice, probably Administaff.
When one area slows down, there will be another sector that is growing and need to fill jobs. Just as the technology cycle when bust and then housing cycle got hot. You just got to move on to the next one.
It is not going to be that easy this time.
This crash is going to be hard.
As you read this, there are more than five million people in the United States employed in identifiable real estate fields such as title insurance, construction, mortgage banking, property management, real estate appraisals, brokerage and leasing, and real estate development. In addition, many were engaged in corporate real estate and in real estate lending in commercial banks, savings and loans, and insurance companies where their jobs are not included in the real estate sector. Over a third of the world's wealth is tied up in real estate.
Dow rises and rises but Bush gets not credit. Slick Willies thing raised and he got it taken care of. Which is better. Five seconds of Democrat Heaven, or Republican money in your pocket. You be the judge.
11:16:58 is correct. We are "witnessing the calm before the storm." This country is heavily in debt and on BORROWED time. The party is just about over and the waiter will be handing the American people the check. The truth is,our children and grandchildren will be paying for all this reckless spending. Many people have massive payments due on ARM's that they'll be unable to make. Many people have depleted the equity in their homes and owe those loans along with their mortgages. Many are just a paycheck away from forclosure and/or bankruptsy. Between our personal debt and the massive federal defecit,Americans are going to be between a "rock and a hard place." Look for the dollar to do a unpresidented nosedive. The majority of you reading this are probably thinking "chicken little" but the signs are all around us.
The economy is great for those among us with the common sense to approach our investing strategies from a practical perspective. Those of us who chose not to partake in “boutique” mortgages and have fixed payments we calculated from the get go and knew we’d be able to make. Those of us who chose to keep our two-year-old car and decided not to take on a $40,000 car loan debt because it was interest free. Those of us who chose to live our life in a manner that wouldn’t place our families or our futures in jeopardy. For those of you out there who are now paying the piper because you where stupid, or naïve enough, to think that applying the philosophy of “all I have to worry about is making the payment, not what it costs” well the bill is coming due.
I personally will sit back and watch my deferred comp account rise in value, pay my fixed mortgage house payment, and take money out of credit union account as needed. It’s called living within your means.
For those who are struggling please be wise and whatever you do, don’t go to Payday Loans to relieve your burden.
I think I'll take up pan handling over by 69 and the Ryan......GIMME A DOLLAH OFFICE, I'MMA VETRINS!
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