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Making sense of the markets..

(16 posts)
  • Started 5 years ago by Scott
  • Latest reply from JadeEmperor
  • Topic Viewed 1019 times

Scott
Scott
Posts: 5618


Posted 5 years ago
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whs
whs
Posts: 17584

What do you expect if a whole nation lives on credit only and all the assets were sold to China and Japan. As to my calculation, every man, women and child owes $30.000 to the foreign banks plus what they owe from their own debt. The times of the capitalism American style are probably gone forever. This culture shock is still to come to most people. Earn it before you spend it will be the way it works.

Posted 5 years ago
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raphoenix
raphoenix
Posts: 14920

@Scott & @whs,

SOOOOOO TRUE !!!!

Kindest Regards,
Rick P. ♥ :)

Posted 5 years ago
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JadeEmperor
JadeEmperor
Posts: 244

i think it all started when American ingenuity took a back seat and things get to be stamped "Made In Japan". heck, even my boxer shorts are made in some countries in Asia.

Posted 5 years ago
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whs
whs
Posts: 17584

JadeEmperor, What you describe is a real problem too - the American industry is by and large no more competitive ( there are exceptions though). But the current crisis has it's roots in the fact that the people and the country live far beyond their means. Money was replaced by plastic and the goverment sold the country. Now the market realizes that there is insufficient equity in the country and that millions of people will not be able to pay back the money they owe (the same goes probably for the federal goverment). So there is a disruption in the cash flow which led to the current misery. And this is only the beginning because it will require a dramatic change of culture (e.g. pay cash) to heal this problem - and I don't know whether the people are ready for that. So we will probably limp along for a long time.

Posted 5 years ago
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BobJam
BobJam
Posts: 1052

Yes, all the posters here are correct, but there's another cause, maybe slight now that the shorts are on hold, for this volatility . . . MANIPULATION!!! That accounts for why when some days there's bad news and the market goes up, and other days there's good news and the market goes down.

Posted 5 years ago
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techgranny
techgranny
Posts: 1443

whs, you've hit the nail on the head. (as usual) I call the united states, IOU Nation. Unfortunately, the younger culture knows no other way. I won't be limping along (at least not financially) because us old folks were raised to save more than we spend and never buy something we can't pay for:) Just had to get that off my chest!

Posted 5 years ago
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mpc104
mpc104
Posts: 286

i am with you whs and techgranny, if i dont have the cash to buy something, i dont buy it

Posted 5 years ago
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jack7h3r1pp3r
jack7h3r1pp3r
Posts: 2815

well i usually just don't buy things because i don't have any cash lol :)

Posted 5 years ago
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whs
whs
Posts: 17584

@techgranny, I would think that in your business it is imperative to have credits available. But if the banks have no money to borrow, your business comes to a screaching halt too. And that is the limping part where you may get hit. But in any case, there will be a lot more scrutany of borrowers in the future - and that in itself will narrow the real estate market.
@jack, you are the lucky one. Your home does not get stuffed with useless stuff.

Posted 5 years ago
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jack7h3r1pp3r
jack7h3r1pp3r
Posts: 2815

yes you are right whs my house isn't stuffed with useless things it is filled with them because i seem to get most of my stuff for free so i seem to only have useless things in this house LOL :D

Posted 5 years ago
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whs
whs
Posts: 17584

Looks like you have Santa coming all the time.

Posted 5 years ago
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jack7h3r1pp3r
jack7h3r1pp3r
Posts: 2815

lol well with me being a amature skateboarder i get a lot of stuff paid for and given to me :) and i have a good friend who works for HP so i can usually get computer things from him LOL so i usually have a ton of stuff laying around hehe

Posted 5 years ago
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techgranny
techgranny
Posts: 1443

whs, I hear what you're saying, but in all our decades, we've never taken a loan to meet payroll or anything else. We believe in using our own working capital. We don't owe anybody a dime and that's the good life:)

Posted 5 years ago
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BobJam
BobJam
Posts: 1052

As one reporter recently said, "Calling it a meltdown is like yelling 'fire' in an inferno".

Posted 5 years ago
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JadeEmperor
JadeEmperor
Posts: 244

lifestyle change is what is needed.

never live above your earnings so as not to owe anyone a dime.

Posted 5 years ago
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