the man oughtta know.. he told reporters this week that housing prices"have only started" to drop...he sees huge problems in the economy coming quickly. the Feds lowering the rate 1/2% won't fix the problem,but it will lead to future damage. they're grabbing for straws,people, and regardless of HOW much Wall Street gains after the drop, it's not enough to fix it over the long haul. someone shoulda listened to that man, now millions have lost homes w/ millions more on the horizen. my daughter is looking to buy a house,I told her wait a few months and they'll be plenty of people BEGGING to sell their homes, even @ a loss...it's happening now. she looked @ 1 yesterday that has been on the market for 8 months...with NO bites.... time to take advantage of other peoples bad management.Survival of the fittest,I say.the banks don't want 'em....mortgage companies are in deepo kimshi with no bailout form the Gov't..guess how THAT will effect the economy....
Location: land of the Lilliputians, In the state of insanity
Posts: 24,185
RE: Greenspan says.." it's just starting"
Can you say, low interest loans that should have never been taken. Not eveyone can afford a 200k home. Yep, lots of people will hurt, the ones who took loans ata low rate, with no foresight. Also, the fed. constantly lowering rates has got the problem going. Sad to say, but nature does controle the buisness world as well.
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals don’t believe in either of them.
I don't think there is anyone alive who knows more about economics than Greenspan. You can tell he loves his work and that's why he's so dam good at it. Still, from what I've read and seen lately, he did not state that the housing market was going to experience some sort of tradgedy. Only that it was going to go down for a while, which it seems to me, is obvious to about anybody. He has stated that a recession is about a 1:3 possibility.
The problem, that I believe he sees, is over the long run with proliferation ofsocial programs, ever increasing Goob spending in all areas, and the possible collapse of social security and medicare without alternative action. It's a little scary, imo, to look ahead at the plight that this country may facebecause of economic "free-wheeling" by almost all of our elected officials. Nobody, it seems wants to be the "no!" man.
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Looney tunes deductive reasoning:
--Me smell Mohican burning
--Me last Mohican
--Must be me!!!
--EEEOOOWWW!!!!!
Liken it to that bridge that fell down on I-35. Rather than replace it withyear 2000 dollars they put it off until 2021 when it would cost at least twice as much. Well, it fell down on 2007. Politicians will do nothing to fix social security until it all falls apart. The Republicans will love it because they never liked the idea of social security any way. The Democrats will have the chance to put tens of millions on the dole-itwill bewin-win for both putrid partys.
My daughter and her husband are currently trying to sell their home, so far few lookers and even fewer offers, all bargain hunters. The house is only 3 years old and in a decent neighborhood. I told her that now is a very bad time to sell.
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Kevin Haendiges
NAHC Life Member
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http://hunting-indiana.com
I don't think there is anyone alive who knows more about economics than Greenspan. You can tell he loves his work and that's why he's so dam good at it. Still, from what I've read and seen lately, he did not state that the housing market was going to experience some sort of tradgedy. Only that it was going to go down for a while, which it seems to me, is obvious to about anybody. He has stated that a recession is about a 1:3 possibility.
The problem, that I believe he sees, is over the long run with proliferation ofsocial programs, ever increasing Goob spending in all areas, and the possible collapse of social security and medicare without alternative action. It's a little scary, imo, to look ahead at the plight that this country may facebecause of economic "free-wheeling" by almost all of our elected officials. Nobody, it seems wants to be the "no!" man.
That's EXACTLY what he said in the interview..... that it was a huge possibility...
Location: On an Island in the west coast of New England
Posts: 13,133
RE: Greenspan says.." it's just starting"
What I found most interesting was his feelings about bothGeorge and his Fatherrelative to economics. This was coming from a Republican to boot. We have been thrown down the well according to him.
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Too busy with fishing to spend much time here.
What I found most interesting was his feelings about bothGeorge and his Fatherrelative to economics. This was coming from a Republican to boot. We have been thrown down the well according to him.
CI, he was a little late to the party don't you think? I know many republicans complaining about the out of control spending. We didn't need Greenspan to figure that one out. Heck, it started with this stupid drug program Bush inacted when fact's showed most didn't need it. Then into the education bill he let Teddy write. We knew he wasn't a conservative though. Unfortunately, I don't get a say in who runs.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Greenspan says.." it's just starting"
