Recession

[Dobieman]

Fed cut the rate 3/4 point today in an reaction to the global market meltdown yesterday. The Fed meeting wasn't scheduled until next week. This is a panic move and I am glad they did but can the Fed really stop recession?
Can GW's stimulus plan?

Getting queezy in my stomach here  

 

[GSXRFANN]

The ONLY way they are going to be able to stop it is if they cut the price of gas! When the public sees a drop in fuel prices, then they will feel better about the economy and spend more money. I don't care how much they lower this, or lower that...I want fuel prices to drop, then I will be comfortable spending my money on other things!

 

[BlueHaya]

It is amazing how the banking industry is now posting record drops in revenue when 3 of the 10 most profitable companies is banking. # 3 Citigroup #4 bank of America #9 JP Morgan

gas prices need to come down...squash talk of raising the gas tax .40.....get control of the trade deficit with China.....contain taxation...and give me my $1600 rebate currently in the works.

 

[heavybusa]

The ONLY way they are going to be able to stop it is if they cut the price of gas! When the public sees a drop in fuel prices, then they will feel better about the economy and spend more money. I don't care how much they lower this, or lower that...I want fuel prices to drop, then I will be comfortable spending my money on other things!

I too believe that a lot of this hinges on fuel and heating costs.

 

[Robot]

Good thing I have all those mason jars of silver dollars buried in my backyard!

 

[bowwow]

Is there a E-85 busa yet?

 

[runeight]

Just remember, any tax credit given to you is income you have to report next year.

Yup, taxed again on money you paid tax on already.


r8

 

[Busa Jules]

Gas prices are killing me!! My Eating-out budget has been turned over to the Gas budget.

My dad is getting really antsy... he is a big stock market guy.... but my inheritance is looking better and better... Buy low, sell high! Buy Buy Buy!!!

 

[cosmo]

Just remember, any tax credit given to you is income you have to report next year.

Yup, taxed again on money you paid tax on already.


r8

And the money is borrowed (or printed) as well. Jimmy Carter tried this non-sense in the 70's.....nuff said

 

[Dobieman]

Gas prices are killing me!! My Eating-out budget has been turned over to the Gas budget.

My dad is getting really antsy... he is a big stock market guy.... but my inheritance is looking better and better... Buy low, sell high! Buy Buy Buy!!!

Buying opportunity for sure but I have everything I got now tied up in the current situation. Didn't have cash sitting around in a savings account for the day the market bottomed out if ya know what I mean.
Also with a K8 in the garage with a bad case of mod envy it isn't easy to sink more money into the black hole that is the market right now

 

[Commuta_Busa]

they still refuse to say the word recession and yet every conversation includes the term "the R word". who's kidding themselves?

 

[kml]

The ONLY way they are going to be able to stop it is if they cut the price of gas! When the public sees a drop in fuel prices, then they will feel better about the economy and spend more money. I don't care how much they lower this, or lower that...I want fuel prices to drop, then I will be comfortable spending my money on other things!

world oil production has peaked.
http://uk.reuters.com/article/oilRpt/idUKN1724177920080117
America HAS cheap gas
http://money.cnn.com/pf/features/lists/global_gasprices/
Things are only going to get worse.
http://www.thestar.com/Business/article/293042
Get used to it.


cheers
ken

 

[cosmo]

The ONLY way they are going to be able to stop it is if they cut the price of gas! When the public sees a drop in fuel prices, then they will feel better about the economy and spend more money. I don't care how much they lower this, or lower that...I want fuel prices to drop, then I will be comfortable spending my money on other things!

world oil production has peaked.
http://uk.reuters.com/article/oilRpt/idUKN1724177920080117
America HAS cheap gas
http://money.cnn.com/pf/features/lists/global_gasprices/
Things are only going to get worse.
http://www.thestar.com/Business/article/293042
Get used to it.


cheers
ken

Think you might want to read that again. As is usual with yellow journalism the headline does not match the substance of the text. The article in fact claims production is NOT falling at the predicted rate:
"The study of more than 800 oil fields suggests that theories that global oil production may soon hit a peak due to steep declines at maturing fields may not hold water."

Many of the oil producing countries run by radical dictators (Iran, Venezuela) have chosen to spend they're profits on weapons acquisition and general trouble making rather than re-invest in they're production infrastructure. The pool of available oil is IMMENSE. Finding it and getting it out of the ground takes a little work.

 

[GSXRFANN]

Just remember, any tax credit given to you is income you have to report next year.

Yup, taxed again on money you paid tax on already.


r8

Did you get the PM I sent you the other day?

 

[winlite]

The Fed controls the interest rate, the amount of money in circulation, and they can create money from nothing, Also they have nothing to do with our Federal Covernment. They are there own autonomy. They can move our economy around like chess pieces. A good step would be to go back on the gold standard and make sure our currency is backed up with something with tangible value. Also do away with the IRS, a collection agency for the Federal reserve. All we need to do is go by our Constitution and our nation will prosper.

 

[Revvv]

The ONLY way they are going to be able to stop it is if they cut the price of gas! When the public sees a drop in fuel prices, then they will feel better about the economy and spend more money. I don't care how much they lower this, or lower that...I want fuel prices to drop, then I will be comfortable spending my money on other things!

So true.

I have limited the amout of racing I will do this year do to fuel prices. It has been rumored that fuel will hit somewhere close to the $4 - $4.50 mark this summer. If that's the case I'm not doing much of anything.

 

[captain]

OK I'm prepared for the flaming.... I don't think that were in a recession... here is why... Drive down the busiest street with the most restraunts and see if the parking lots are empty or full on Friday night.... When your on your way to work look and see how many new car tags you see. Watch and see how many people are in WalMart with crap in their baskets. The average person is not effected by this IMHO.... Now Ford, Chevy and the automakers that have been screwing the consumers for years raising prices higher and higher they are definately having problems... I can hear it now.... If there arent jobs for workers at the plants then those people will get laid off, correct and when that happens another job will open up repairing the used cars that are out there...

I do agree that we should trim up the imports from China and the cost of fuel is because of supply and demand.... Well we know that the limitations and cost is the burden of the few refineries that we have so we should build a couple more of them to lower the initial cost of gas, then go after the base price of the oil that we convert.... Whether we drill in Alaska or get Opec to lower the cost that would help too.....

doug

 

[edubb1971]

The ONLY way they are going to be able to stop it is if they cut the price of gas! When the public sees a drop in fuel prices, then they will feel better about the economy and spend more money. I don't care how much they lower this, or lower that...I want fuel prices to drop, then I will be comfortable spending my money on other things!

 

[Dobieman]

OK I'm prepared for the flaming.... I don't think that were in a recession... here is why... Drive down the busiest street with the most restraunts and see if the parking lots are empty or full on Friday night.... When your on your way to work look and see how many new car tags you see. Watch and see how many people are in WalMart with crap in their baskets. doug

No flame here Capt but I disagree.
I can get into most any restaurant I want these days with minimal or no waiting. I am in an industry that has seen first hand the impact to restaurants and small restaurant suppliers. Lots of bankruptcies looming the the restaurant industry. Fuel prices have taken away the average guys restaurant money. Fuel prices will only ease with more US refineries like you mentioned. Fuel cost is reflected in everything you buy, no quick fix in sight.
With the sub prime lending at an abrupt halt allot less paper tags on new cars these days and the automakers are getting hammered. And when did Walmart become a economic indicator? This is the bottom of the barrel store for getting low cost / grade staples people need everyday.
Its not like people can stop eating or wearing clothes, but they can get them at Walmart instead of eating out or shopping at Dillard's.

 

[captain]

Note taken so lets look at it this way... The auto industy is getting exaclty what they have had coming for years... You cant continue to charge 50k for an SUV and then expect that margin to always be there... They had to see it coming, I think what your seeing there is the market driving cost down.. As far as the restraunts go the people I obsrevered at lunch today didnt seem to be to concerned with gas proces, at least not enough to get them to bring their lunch from home.... When I stated Wal Mart I was referring to the non essential things... Movies, games, electronics. People that are needing food on the table dont normaly buy things they cant eat.... If you still doubt me then go to best buy or circuit city and see how full the parking lot is there... Go inside and watch the people gobbling up electronics, you can get the same impression by going to Lowes or home depot. Someone buying light bulbs I can see even in a recession but someone adding a new deck not so much.... I think that what we are seeing is a housing market that we all new was going to come back down some day, some people have been riding the wave and now that it is coming down its a recession, I disagree, they rode it for all it was worth, invested in the housing market more than they should have and now its a crisis.... Just like people that the govt is talking about handing money out because they cant affors their house payment, foooey on that sounds to me like they got over extended and bought a house they couldnt afford..... I think that we are seeing things leveling off in some areas and you can bet your butt that other areas will come along and they will make profits on others losses, its a vicious cycle.....

cap