RECESSION?

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OCCOBRA_IHB

OCCOBRA_IHB

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You know you are being lied too when the government has not admitted we are in a recession. I guess they will admit that once the elections are over. Silly Guberment, no one believes in you anymore.
 
recession- when your neighbor has lost his job.



depression- when you have lost your job.



-I agree this bothers me also. it seems like its all about the dow. don't upset the dow. oh no down 7% oh joy up 500. WTF..



I love the way the media uses it's scare tactics too biggest drop ever. that's relative. what about 1997 20%+
 
[quote author="OCCOBRA" date=1222832652]You know you are being lied too when the government has not admitted we are in a recession. I guess they will admit that once the elections are over. Silly Guberment, no one believes in you anymore.</blockquote>


The government sets up the reporting system to maintain denial until it is already over. By their definition, it takes two successive quarters of economic contraction to officially be a recession. This quarterly data is reported a month or two after the fact. Also, there are revisions for months after that. By the time they admit we are in a recession, it is almost 9 months later. Since more recessions don't last that long, by the time a recession is acknowledged, it is already over.
 
BTW- did you see the headline a day or two ago?



some one besides. irvine renter and John Talbott final came out and said it. out loud to the press.



im paraphrasing. jpmorgan-chase-Wamu-merrill-lynch. "called for a 59% drop peak to bottom in So Cal real estate"



I would think they will adjust any future lending accordingly also.



Ventoux.
 
[quote author="ventouxbob" date=1222836052]BTW- did you see the headline a day or two ago?



some one besides. irvine renter and John Talbott final came out and said it. out loud to the press.



im paraphrasing. jpmorgan-chase-Wamu-merrill-lynch. "called for a 59% drop peak to bottom in So Cal real estate"



I would think they will adjust any future lending accordingly also.



Ventoux.</blockquote>


Man these estimates are getting so large they're looking ridiculous even for a bear.



Well, at least we know it can't go higher than 100%. :-P
 
I'm not so sure that it can't go higher than 100%. The way some people in government are talking, they will either give you a house of your own for free or they are going to start paying you to move into an empty foreclosed home, rent free of course.
 
[quote author="ventouxbob" date=1222836052]BTW- did you see the headline a day or two ago?



some one besides. irvine renter and John Talbott final came out and said it. out loud to the press.



im paraphrasing. jpmorgan-chase-Wamu-merrill-lynch. "called for a 59% drop peak to bottom in So Cal real estate"



I would think they will adjust any future lending accordingly also.



Ventoux.</blockquote>


59% CLOSE OUT SALE,



Ventoux, you made Panda's day today.. I am so Happy inside!! :)



59% OFF for So Cal Real Estate... Panda is ALL over THAT!!! Now did you say that there will be 59% SALE on Santa Ana or Irvine??? Does that mean i can buy a Villa Rosa Plan 1 in Woodbury for only $450,000 at the bottom? Man, wouldn't that be SWEET?? Something tells me that you are talking about Santa Ana.
 
Just take the pre bubble price say 1997 price and adjust for inflation. theres your bottom.



http://john-talbott.com/Home_Page.html



this guy Called it back in 2003.



I read Sell now in july 2007 two months later the the credit crisis started.



Im now reading his book Obamanomics. the guy is very good.



hey called for 59% reduction in San diego. in his 2006 book. and JP morgan said so 2 days ago.
 
[quote author="PANDA" date=1222838126][quote author="ventouxbob" date=1222836052]BTW- did you see the headline a day or two ago?



some one besides. irvine renter and John Talbott final came out and said it. out loud to the press.



im paraphrasing. jpmorgan-chase-Wamu-merrill-lynch. "called for a 59% drop peak to bottom in So Cal real estate"



I would think they will adjust any future lending accordingly also.



Ventoux.</blockquote>


59% CLOSE OUT SALE,



Ventoux, you made Panda's day today.. I am so Happy inside!! :)



59% OFF for So Cal Real Estate... Panda is ALL over THAT!!! Now did you say that there will be 59% SALE on Santa Ana or Irvine??? Does that mean i can buy a Villa Rosa Plan 1 in Woodbury for only $450,000 at the bottom? Man, wouldn't that be SWEET?? Something tells me that you are talking about Santa Ana.</blockquote>


Panda, you're so off the hook, you're funny. Sit down :-). This'll take years if it happens.



I hear they also have a wonderful 99% OFF sale on Lehman Brothers stocks too. Prices you will never see again in your lifetime!
 
So it takes a whole flipping year for this independent council to determine we are in a recession? Are they that myopic? I guess if you had a job where the building is caving in around you but you don't have to report about it for a year and still get a paycheck thats the job for me! Why are they even in existence at all if they are this ineffectual....
 
[quote author="OCCOBRA" date=1228567267]So it takes a whole flipping year for this independent council to determine we are in a recession? Are they that myopic? I guess if you had a job where the building is caving in around you but you don't have to report about it for a year and still get a paycheck thats the job for me! Why are they even in existence at all if they are this ineffectual....</blockquote>


From Stephen Wright -



<blockquote><blockquote>The other day I got on an elevator this old guy got in with me... I was over near the button I pushed number four & I said 'where you going'. he said 'Phoenix'. so i pushed 'Phoenix'. doors opened. two tumbleweeds blew in. we stepped off we went to downtown Phoenix. I said 'you know you're a kind of guy Ireally like to hang out with.' he said 'well I'm going out the desert, you wanna go?' Isaid sure... so we hopped in his car and started driving out to the desert. he told me he spent most of his life working on a research project for the government trying to find out who financed the pyramids. he worked on it 30 years and they paid him an incredible amount of money... he told them he was pretty sure it was a guy named eddie. we got to his house 500 miles in the middle of the desert. the phone rings, he says 'you get it'. so I go over and I picked it up the man says 'Steven Wright'? Isaid 'yes?'. he said 'This is Mr. Haynes your student loan director from your bank.'</blockquote></blockquote>
 
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