Doom & Gloom.

[iGas]

In the last couple of weeks economic news seems to be making a turn for the better. The stock market have had a positive rally for the last 5-6 days, and banking reports indicated that they are turning a profit. My mortgage lender told me this is a good time to buy and the bank is loosening its lending belt. The realestate agent that I have been dealing with told me that the month of February was one of the best month for her in 12 years realestate career.

Am I jaded to think this is just another dead cat bounce?

 

[SmoochyTX]

Of course it's all over. Everybody's rich again! Yay!

Time for you to start racking that credit back up.

 

[Zim Hosein]

Originally posted by: iGas

In the last couple of weeks economic news seems to be making a turn for the better. The stock market have had a positive rally for the last 5-6 days, and banking reports indicated that they are turning a profit. My mortgage lender told me this is a good time to buy and the bank is loosening its lending belt. The realestate agent that I have been dealing with told me the month of February was one of the best month her 12 years realestate career.

Am I jaded to think this is just another dead cat bounce?

I'm not familiar w/ that saying iGas, how does a dead cat bounce?

 

[iGas]

Originally posted by: Zim Hosein

Originally posted by: iGas

In the last couple of weeks economic news seems to be making a turn for the better. The stock market have had a positive rally for the last 5-6 days, and banking reports indicated that they are turning a profit. My mortgage lender told me this is a good time to buy and the bank is loosening its lending belt. The realestate agent that I have been dealing with told me the month of February was one of the best month her 12 years realestate career.

Am I jaded to think this is just another dead cat bounce?

I'm not familiar w/ that saying iGas, how does a dead cat bounce?

Dead cat bounce

A dead cat bounce is a figurative term used by traders in the finance industry to describe a pattern wherein a spectacular decline in the price of a stock is immediately followed by a moderate and temporary rise before resuming its downward movement, with the connotation that the rise was not an indication of improving circumstances in the fundamentals of the stock. It is derived from the notion that "even a dead cat will bounce if it falls from a great height".

 

[Zim Hosein]

Originally posted by: iGas

Originally posted by: Zim Hosein

Originally posted by: iGas

In the last couple of weeks economic news seems to be making a turn for the better. The stock market have had a positive rally for the last 5-6 days, and banking reports indicated that they are turning a profit. My mortgage lender told me this is a good time to buy and the bank is loosening its lending belt. The realestate agent that I have been dealing with told me the month of February was one of the best month her 12 years realestate career.

Am I jaded to think this is just another dead cat bounce?

I'm not familiar w/ that saying iGas, how does a dead cat bounce?

Dead cat bounce

A dead cat bounce is a figurative term used by traders in the finance industry to describe a pattern wherein a spectacular decline in the price of a stock is immediately followed by a moderate and temporary rise before resuming its downward movement, with the connotation that the rise was not an indication of improving circumstances in the fundamentals of the stock. It is derived from the notion that "even a dead cat will bounce if it falls from a great height".

:Q

Thanks for the info iGas! :beer:

 

[Kadarin]

The current economic crisis has not affected me as of yet, and hopefully it won't. However, for the following question:

Do you feel that your personal finance will improve in the next 12 months?

I voted no. I expect that my personal finance will stay the same over the next year.

 

[Squisher]

We have yet to hit the bottom.

A great deal of bad mortgages are being hidden by banks to keep their balance sheets still looking good.

It'll take a few years until there is the demand for new autos so as to bring auto sales up to the number that will allow automakers to make money.

I don't expect to see a bottom until 2010.

 

[spidey07]

What is really going on is doom and gloom was used for political purposes. But "they" didn't think the doom and gloom would have this kind of wide reaching impact. Now people are scared shitless and it's snowballing regardless of any empirical data. Goes to show a person is smart, but people are dumb scared little animals.

I have not been affected yet, but people not buying shit indirectly affects my paycheck and opportunity as all companies cut back on growth and move to a sustain and cut operational costs state. All fueled by perception of the consumer, not reality.

But any smart businessman knows that perception IS reality.

 

[lokiju]

What counts as family?

How far out?

 

[Zim Hosein]

Originally posted by: Squisher
We have yet to hit the bottom.

A great deal of bad mortgages are being hidden by banks to keep their balance sheets still looking good.

It'll take a few years until there is the demand for new autos so as to bring auto sales up to the number that will allow automakers to make money.

I don't expect to see a bottom until 2010.

:Q

Thankfully you don't have a job on CNBC Squisher!

 

[amdhunter]

No. Obama will run this economy into the ground to make poor peoples lives more comfortable.

I never thought I'd think like this, but making money these days is for n00bs...it's better to be poor and stupid these days.

 

[BoomerD]

Originally posted by: Squisher
We have yet to hit the bottom.

A great deal of bad mortgages are being hidden by banks to keep their balance sheets still looking good.

It'll take a few years until there is the demand for new autos so as to bring auto sales up to the number that will allow automakers to make money.

I don't expect to see a bottom until 2010.

This, but I'm not quite as optimistic as Squishy. I don't think we'll hit bottom by'10. BUT, I do hope that things will start improving soon. (even in an overall decline, some sectors can improve)

Has the economic decline affected us? Yes, but (so far) only marginally.

My wife wanted to go back to work to help out with increased monthly costs, (I'm on a fixed income...and no raise in over 5 years...so as things go up...my income remains the same) but no one's been hiring around here in over a year. Jobs are scarce and there's a bazillion applicants for every one that comes open.
People with expensive degrees are taking customer service jobs for $12-$15 just to put food on the table...

I graduate from community college next month with AS degrees in Accounting, Bookkeeping and Business Administration. "Would you like fries or onion rings with that sir?"

I don't really expect my financial situation to get better, (I'd have to work 3 shifts to make what my disability pays) but I do at least hope to find a decent entry-level bookkeeping job with one of the local firms.
Thursday night, I've been invited to the local Certified Management Accountant's Student dinner. Only a few of the "top" students from each local school get invited. Nice way to get your face and name around with some of the managers from local accounting firms. (not that I expect it to amount to squat...but it's a free dinner...complete with rubber chicken, rubber vegetable medley, and over-cooked rice pilaf...

 

[compman25]

For employees of AIG it's getting better!

 

[ja1484]

None of your poll questions address the thread topic question.

Anyway, no, it's not over.

Alt-A and Option Adjustables don't reset until 2011. Get ready for the next big whooping then. It won't hurt as much as subprime did because everyone will have less to lose, but don't invest heavily in anything real-estate related unless you're damn sure it'll be unloaded before then.

Turnaround = 2013 or so. Sorry bout the long wait fellas.

 

[Kwatt]

Originally posted by: Squisher
We have yet to hit the bottom.

A great deal of bad mortgages are being hidden by banks to keep their balance sheets still looking good.

It'll take a few years until there is the demand for new autos so as to bring auto sales up to the number that will allow automakers to make money.

I don't expect to see a bottom until 2010.

I hope you are right. Although I am beginning to think that the 2010 level is a just a step off to another downward spiral. Because of 2011-2012 ARMs coming due.

I am hoping a major problem can be averted. But it seems no one remembers when Noah built the Ark.


...

 

[iGas]

So far the poll here indicated that the economic does affect them, and some people are a bit skittish. However, the confident level is high indicating that in the next months their position will be improve.

IMHO, consumer confident is some what restored and it look like this rally is not another death cat bounce in the roller coaster that we have seen for the last 12 months. In the short term it look positive, but I'm unsure if the market can shrug off what ja1484 & Kwatt suggesting for 2010-2012.

Market is up today.

 

[spidey07]

Originally posted by: iGas
So far the poll here indicated that the economic does affect them, and some people are a bit skittish. However, the confident level is high indicating that in the next months their position will be improve.

IMHO, consumer confident is some what restored and it look like this rally is not another death cat bounce in the roller coaster that we have seen for the last 12 months. In the short term it look positive, but I'm unsure if the market can shrug off what ja1484 & Kwatt suggesting for 2010-2012.

Market is up today.

I REALLY hope you take the audience of your sample into consideration. Living in your parents basement doesn't equal a realistic sample or outlook.

 

[bunker]

Originally posted by: spidey07
What is really going on is doom and gloom was used for political purposes. But "they" didn't think the doom and gloom would have this kind of wide reaching impact. Now people are scared shitless and it's snowballing regardless of any empirical data. Goes to show a person is smart, but people are dumb scared little animals....

Did you just quote Men in Black?

I haven't been affected other than my 401k, but I'm not drawing off that yet.
I don't expect my financial situation to improve because I work for the state and all cost of living raises have been axed to help balance the state budget.

 

[BassBomb]

Y
Y
N
Student

 

[Modelworks]

It is a long long way from being over.

 

[iGas]

Originally posted by: spidey07

Originally posted by: iGas
So far the poll here indicated that the economic does affect them, and some people are a bit skittish. However, the confident level is high indicating that in the next months their position will be improve.

IMHO, consumer confident is some what restored and it look like this rally is not another death cat bounce in the roller coaster that we have seen for the last 12 months. In the short term it look positive, but I'm unsure if the market can shrug off what ja1484 & Kwatt suggesting for 2010-2012.

Market is up today.

I REALLY hope you take the audience of your sample into consideration. Living in your parents basement doesn't equal a realistic sample or outlook.

Oops!

I forgot the demographics population of OT.

Extra poll added.

 

[spidey07]

Originally posted by: bunker

Originally posted by: spidey07
What is really going on is doom and gloom was used for political purposes. But "they" didn't think the doom and gloom would have this kind of wide reaching impact. Now people are scared shitless and it's snowballing regardless of any empirical data. Goes to show a person is smart, but people are dumb scared little animals....

Did you just quote Men in Black?

I haven't been affected other than my 401k, but I'm not drawing off that yet.
I don't expect my financial situation to improve because I work for the state and all cost of living raises have been axed to help balance the state budget.

Yes I did. But it's true.

 

[T9D]

...

 

[MagnusTheBrewer]

Your pole is slightly misleading. You ask; Do you feel that your personal finance will improve in the next 12 months? There is a difference between your finances improving or not based on what financial changes you have made versus the government. I expect my finances to improve due to changes I've made and not due to any programs the government may initiate. I expect the national financial crisis to continue for some years to come.

 

[Zee]

there's no recession here.

if i didnt watch the news or check my 401K, i would never know we are in a recession

high prices in the store around me FTL