No Recession

[Reloadron]

Originally Posted by Jokerswild

Wait for the credit card crunch next.

Wait no more:

The credit card party is officially over - MSN Money

This is why it is very unwise to carry any balance on a credit card. The financial industry is not about to continue to do write downs. They intend to screw whoever necessary to recoup their losses.

Ron

[gvblake22]

Charging more than you can afford on a credit card is unwise to begin with, those things are a money pit. I never have, and never plan on, not paying mine off completely every month.

[Jokerswild]

Student loans are funny things too. The government doesn't allow them to be included on a bankruptcy, even the ones that are not from the government but they can still raise interest rates like a credit card. Talk about being screwed. Sallie Mae being the biggest one and no it's not a government loan.

[onebxr]

The good thing about student loans, are that hey are usually very low intrest loans. NEVER be late paying student loans. For some reason this hits your credit report harder than anything else. I pay my CC's off every month. The only thing my wife and I owe on is the house and 1 of our 2 cars.
-1

[screwballl]

Originally Posted by Capper

I think you need to put .25 gas into perspective, that was the mid to late 70's, with a far different climate when it came to resources.

Very true, but within your own post, we are in a stagflation mode right now, income is down but prices of almost everything is at the highest it has ever seen... but when we are seeing gas over 75 cents higher than it should be now compared to 25 cents in the 70s, that is still a big difference, even with "inflation index" and altered economies included.

[Jokerswild]

Originally Posted by onebxr

The good thing about student loans, are that hey are usually very low intrest loans. NEVER be late paying student loans. For some reason this hits your credit report harder than anything else. I pay my CC's off every month. The only thing my wife and I owe on is the house and 1 of our 2 cars.
-1

Not always low we have one with Sallie Mae that went from 7% to over 16% recently. How can the government back loan sharks.

[Capper]

The fact of the matter is we're running out of oil....its not a renewable resource....there is still a couple decades worth to be found, but the effort and cost of extracting it means that its going to cost an excessive amount.

I think we can only put our head in the sand for so long.......when you look at the job market, housing, credit....etc.......people have been using credit to offset financial responsibility, and now that the rest of the market has crashed, and with the credit market is well on its way.....you are going to see the whhole house of cards come down.


Whats it going to take for you guys to realize we are in deep financial doo-doo?

[onebxr]

Oh i realize it, and I have done what I can to protect my household from being victim of this recession, but if this turns to depression, well I will be first in line at the soup kitchen.
-1

[azianai]

Yeah if you look at even the CD rates, they are half of what they were 6 months ago. Now to open a 9 Month CD you're lookin at 2.5%, I opened mine last july for 5.3%

[Jokerswild]

I don't see anything thats going to pull us out of it anytime soon either. The government incentives coming out are a joke if they think that will stimulate the economy any. We need real solutions to energy and finance and I don't see this or the coming government having the ability to fix anything. Other than congress being able to secure their own future.