JTH
Well-known member
Thanks, it must be something on my network blocking it. The core site opens up, just not the link. Np I'll wait to I get on a real network.
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coolhand's Account Talk
- Thread starter coolhand
- Start date
Thanks, it must be something on my network blocking it. The core site opens up, just not the link. Np I'll wait to I get on a real network.
Boghie
Well-known member
Occam's Razor
The stock market (as tracked by the S&P 500 as a proxy) crashed by 67.2%.
That is a crash, not a correction.
So, it would be normal for the market to rise to some form of equilibrium as investors buy equites at below market prices.
The problem we should all take notice of is that equilibrium seems to have taken hold at -30% from the high. That is still at a very severe correction - and we are almost two years into this thing. Anybody want to comment on a stagnant economy and market that is only 70% of the high.
Also, GS and the big banks won't pay any taxes till their losses are used up. A bigger problem for the Gubmint is that we normal types can only write off $3,000 in losses per year. For those in the market during the crash it will take a whole lotta time to clear those - and, for that entire time State and Federal tax receipts will be reduced. This will be a very long drain on gubmint coffers.
The stock market (as tracked by the S&P 500 as a proxy) crashed by 67.2%.
That is a crash, not a correction.
So, it would be normal for the market to rise to some form of equilibrium as investors buy equites at below market prices.
The problem we should all take notice of is that equilibrium seems to have taken hold at -30% from the high. That is still at a very severe correction - and we are almost two years into this thing. Anybody want to comment on a stagnant economy and market that is only 70% of the high.
Also, GS and the big banks won't pay any taxes till their losses are used up. A bigger problem for the Gubmint is that we normal types can only write off $3,000 in losses per year. For those in the market during the crash it will take a whole lotta time to clear those - and, for that entire time State and Federal tax receipts will be reduced. This will be a very long drain on gubmint coffers.
coolhand
Well-known member
coolhand
Well-known member
Nordic
Member
Scary stuff when you look at it in bottom line terms. At what point do other countries not play this game with us anymore?
coolhand
Well-known member
Most affordable cities. I couldn't believe San Diego was ranked less expensive than Orlando, FL. I've lived in both and Orlando has been far and away more affordable than San Diego. 
http://www.forbes.com/2009/11/30/ci...e-real-estate-housing-foreclosures_chart.html
http://www.forbes.com/2009/11/30/ci...e-real-estate-housing-foreclosures_chart.html
Silverbird
Well-known member
Coolhand, it may be the food bill as opposed to the mortgage? I found the grocery bills in California a lot cheaper than anywhere on the East Coast?
coolhand
Well-known member
I like the produce better in California and prices were not one of my issues as far as cost goes. Home prices were much, much higher than in Florida. Gas is also more expensive as well as many service related industries. There's no state tax in Florida either.
It's funny. About 10 years ago when I was getting ready to retire from the Navy I checked out the national cost of living in various cities and found that San Diego was 25% higher than Orlando at that time. And after living in Orlando for about 8 years I can believe that. My money goes much further here.
coolhand
Well-known member
coolhand
Well-known member
Silverbird
Well-known member
Yipes, fleeing to the dollar is NOT a good thing to see in this economic climate.
JTH
Well-known member
China is fixing to take over Japan as the 2nd largest economy. It won't be long before they overtake us too. Our best days are behind us...
Lobo
Member
Very interesting. I don't see our Credit Union in the list....but, I reckon they don't really consider that a bank, do they? However, our Credit Union is great to lend money in this community....at very good and competative rates!
Two months ago, I checked around at local banks, and online, to see about refinancing my house, now that I'm retired, to get the payment down so that we could enjoy "stuff" a little before we are gone for good. I wanted a 15-year loan on a relatively small amount of money. Everywhere I went wanted between $2500 to $3000 in closing costs to refinance! I know that's somewhat standard, but, I was asking for a loan/refinance on a house I've lived in for about 18 years now.....an amount that is about 20% of the house's current market value, and could easily produce verification of more than sufficient income....a credit rating in the upper 700's and no other debt whatsoever. I just asked, what all could have to be done to cost that much?!?!? If you've financed a house, you know the long list!
Well, our Credit Union was willing to do a 15-year loan, charge me no....that's none....origination fees....as in no money for them at all for doing this work.....they said they could look at the local tax appraisal and not need the cost of a new appraisal....and no mortgage insurance would be needed since the house is worth 5 times the loan....and all we would need is a lawyer fee for a clean title check and recording fees. My total cost to refinance through my Credit Union??......$520. Yep, that's "period". Thank You, George Bailey!!!!
Use your local bank or Credit Union. Keep the money right in the neighborhood! All my savings (which by the way is equal to the loan amount requested) and checking monies are here to stay!
Lobo
Two months ago, I checked around at local banks, and online, to see about refinancing my house, now that I'm retired, to get the payment down so that we could enjoy "stuff" a little before we are gone for good. I wanted a 15-year loan on a relatively small amount of money. Everywhere I went wanted between $2500 to $3000 in closing costs to refinance! I know that's somewhat standard, but, I was asking for a loan/refinance on a house I've lived in for about 18 years now.....an amount that is about 20% of the house's current market value, and could easily produce verification of more than sufficient income....a credit rating in the upper 700's and no other debt whatsoever. I just asked, what all could have to be done to cost that much?!?!? If you've financed a house, you know the long list!
Well, our Credit Union was willing to do a 15-year loan, charge me no....that's none....origination fees....as in no money for them at all for doing this work.....they said they could look at the local tax appraisal and not need the cost of a new appraisal....and no mortgage insurance would be needed since the house is worth 5 times the loan....and all we would need is a lawyer fee for a clean title check and recording fees. My total cost to refinance through my Credit Union??......$520. Yep, that's "period". Thank You, George Bailey!!!!
Use your local bank or Credit Union. Keep the money right in the neighborhood! All my savings (which by the way is equal to the loan amount requested) and checking monies are here to stay!
Lobo
grandma
Well-known member
Very interesting. I don't see our Credit Union in the list....but, I reckon they don't really consider that a bank, do they? However, our Credit Union is great to lend money in this community....at very good and competative rates!
Use your local bank or Credit Union. Keep the money right in the neighborhood! All my savings (which by the way is equal to the loan amount requested) and checking monies are here to stay!
Lobo
Someplace in these threads, Lobo are posts about checking our banks/credit unions' stability. Just where, I am not sure, but if you will check with Bankrate.com, you will be able to click specially for credit unions.
