I didn't feel a recession - Mercedes-Benz Forum

Reply
 
LinkBack Thread Tools Display Modes
post #1 of 15 (permalink) Old 10-25-2008, 03:57 PM Thread Starter
DP
Moderator
 
DP's Avatar
 
Date registered: Aug 2002
Vehicle: 190E, 400E, SLK350
Location: Chesapeak Bay
Posts: 64,125
Mentioned: 2 Post(s)
Quoted: 991 Post(s)
Lifetime Premium Member
(Thread Starter)
I didn't feel a recession

I went to the mall with my son and I had a real hard time finding parking. The mall was packed and the Apple Store was literally overwhelmed. I feel like Jayhawk
DP is offline  
Sponsored Links
Advertisement
 
post #2 of 15 (permalink) Old 10-25-2008, 03:58 PM
Surely A Large Human
 
Qubes's Avatar
 
Date registered: Jun 2006
Vehicle: '08 C219
Location: Between Earth and Mars
Posts: 34,252
Mentioned: 2 Post(s)
Quoted: 493 Post(s)
Lifetime Premium Member
There are a lot of P/E ratios below 15 right now. At some point, people will get sick of feeling scared and start greasing the economy's wheels again. This is ridiculous.
Qubes is offline  
post #3 of 15 (permalink) Old 10-25-2008, 04:02 PM Thread Starter
DP
Moderator
 
DP's Avatar
 
Date registered: Aug 2002
Vehicle: 190E, 400E, SLK350
Location: Chesapeak Bay
Posts: 64,125
Mentioned: 2 Post(s)
Quoted: 991 Post(s)
Lifetime Premium Member
(Thread Starter)
I think that's very true. Before that we went to an open house for his future (I hope, if he passes the audition) art school and it was packed. For people to sign up their kids for art school tells me they have less pressing survival issue at hand. It's like a good spot to be.
The place felt and looked exactly like the musical series Fame. I know one thing, if accepted my kid will get a lot of pussy in there for sure. One good way to make papa proud
DP is offline  
post #4 of 15 (permalink) Old 10-25-2008, 04:23 PM
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
I can tell you from my visits to the mall and a lot of other retailers that there is NO RECESSION, at least not yet! There are no soup lines around here, but the lines to buy new iPhones and other high-end products are long and unending!!

Don't believe everything you think
Jayhawk is offline  
post #5 of 15 (permalink) Old 10-25-2008, 05:20 PM
BenzWorld Elite
 
elau's Avatar
 
Date registered: Oct 2002
Location: Maryland
Posts: 5,392
Mentioned: 0 Post(s)
Quoted: 4 Post(s)
Quote:
Originally Posted by Jayhawk View Post
I can tell you from my visits to the mall and a lot of other retailers that there is NO RECESSION, at least not yet! There are no soup lines around here, but the lines to buy new iPhones and other high-end products are long and unending!!
Is that why you selling off your cheap ass watch collection?

'95 R129
'04 G35.5 BS
'10 X204
elau is offline  
post #6 of 15 (permalink) Old 10-26-2008, 02:20 AM
~BANNED~
 
Jakarta Expat's Avatar
 
Date registered: Aug 2006
Vehicle: PM me to Join the Expat Muslims for Obama Club........
Location: Jakarta, Indonesia
Posts: 17,697
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by drewprof View Post
I went to the mall with my son and I had a real hard time finding parking. The mall was packed and the Apple Store was literally overwhelmed. I feel like Jayhawk

Just wait, anyone holding US Dollars or US Dollar based assets you should go and read this the article Marsden has posted here, you may want to make to some long term adjustments soon

http://www.benzworld.org/forums/off-...e-warning.html
Jakarta Expat is offline  
post #7 of 15 (permalink) Old 10-26-2008, 03:03 AM
~BANNED~
 
Jakarta Expat's Avatar
 
Date registered: Aug 2006
Vehicle: PM me to Join the Expat Muslims for Obama Club........
Location: Jakarta, Indonesia
Posts: 17,697
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Reccession? These guys are feeling it, especially for a cheap loan from the govt.

Companies start competing for bailout money

WASHINGTON (AP) - The bailout is now the hottest lobbying game in town.

Insurers, automakers and American subsidiaries of foreign banks all want the Treasury Department to cut them a piece of the largest government rescue in U.S. history.

The betting is that many with their hands out will be successful, especially with financial markets in a stomach-churning dive and predictions the economy is about to tumble into a deep recession.

These groups argue that the credit squeeze is so severe and the risks to the economy so dire that their industries need financial support as well.

The Treasury is considering requests from a variety of industries, but has not decided whether to expand the program, officials said Saturday.

Lobbying efforts are intensifying.

The Financial Services Roundtable wrote Treasury officials on Friday requesting that the initiative to buy $250 billion in bank stock grow to cover insurers, auto companies, securities dealers and U.S. subsidiaries of foreign companies, including banks. The Treasury's plan is intended to bolster banks' tattered balance sheets and get them to resume making loans.

As the Treasury now interprets it, these additional groups would not participate in the bank stock program. They could receive help from a separate part of the $700 billion rescue that will buy bad assets from financial institutions.

Steve Bartlett, the president of the Roundtable, urged the Treasury to broaden the definition of those eligible for the stock purchase program.

"The institutions that are excluded play a vital role in the U.S. economy by providing liquidity to the market," Bartlett wrote Neel Kashkari, the Treasury Department official running the bailout program.

Referring to U.S. subsidiaries of foreign companies, Bartlett said, "This is a global crisis and to not recognize the U.S. firms controlled by foreign banks or companies would create further impediment to the market's recovery."

A financial industry official said Treasury Secretary Henry Paulson met over the past week with various groups, including hedge fund managers, that were petitioning for assistance. The official spoke on condition of anonymity because the Treasury has not made a decision.

Some insurers technically would be eligible for stock purchases now if they own subsidiaries that are savings and loan institutions regulated by the Office of Thrift Supervision.

Last month, American International Group, the country's largest insurance company, received an $85 billion loan from the Federal Reserve. Since then, it has gotten further support in an effort to withstand the biggest upheavals on Wall Street since the Great Depression.

Complicating the government's decision-making is that the Bush administration will not be in charge after Jan. 20. Paulson, who has said he has no intention of staying on the job, has pledged to consult with both campaigns on his bailout actions.

Democrat Barack Obama's presidential campaign said Friday it supported the effort by the auto industry to get money from the $250 billion made available for stock purchases. That would be in addition to $25 billion recently approved by Congress for low-interest loans to help the struggling industry retool and build fuel efficient vehicles.

The debate over expanding the bailout comes as the Treasury is rushing to get money out the door to the primary recipients: banks that sharply curtailed lending after suffering billions of dollars of losses on mortgage-related assets as home foreclosures soared in the housing slump.

Lawmakers are pressuring the Treasury to do more in the foreclosure area, as well.

Sheila Bair, head of the Federal Deposit Insurance Corp., told Congress about efforts to provide government-backed loan guarantees for mortgages that are reworked to help homeowners in danger of default. That would give banks an incentive to speed up refinancing efforts because the government would back part of the reworked loan.

The Treasury also is moving ahead to get bank stock purchases approved. It announced on Oct. 14 that it was spending $125 billion to buy stock in nine of the largest financial institutions. An announcement was expected Friday about a second round involving 20 to 22 other banks.

But it was decided each bank would announce its own agreements with the Treasury, out of concern that excluded banks could suffer a stock sell-off from disappointed investors.

PNC Financial Services Group Inc. announced Friday it was acquiring National City Corp. for $5.58 billion, in what was the first instance of a bank using fresh investments from the bailout program to make an acquisition. PNC said it had received $7.7 billion in cash through selling stock to the government under the program.

Companies start competing for bailout money
Jakarta Expat is offline  
post #8 of 15 (permalink) Old 10-26-2008, 03:59 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by drewprof View Post
I went to the mall with my son and I had a real hard time finding parking. The mall was packed and the Apple Store was literally overwhelmed. I feel like Jayhawk
Quote:
Originally Posted by Jayhawk View Post
I can tell you from my visits to the mall and a lot of other retailers that there is NO RECESSION, at least not yet! There are no soup lines around here, but the lines to buy new iPhones and other high-end products are long and unending!!
I too was at the mall yesterday, and Ikea [Jeez!]. What I noticed was a pretty full parking lot but when we watched as people came out, not so many had hands full of bags.

How many people go to the mall simply to kill time or wander around, looking for bargains.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #9 of 15 (permalink) Old 10-26-2008, 04:00 PM
Surely A Large Human
 
Qubes's Avatar
 
Date registered: Jun 2006
Vehicle: '08 C219
Location: Between Earth and Mars
Posts: 34,252
Mentioned: 2 Post(s)
Quoted: 493 Post(s)
Lifetime Premium Member
^ Precisely.
Qubes is offline  
post #10 of 15 (permalink) Old 10-26-2008, 04:03 PM
BenzWorld Elite
 
yoseyman's Avatar
 
Date registered: Nov 2005
Vehicle: Baby
Location: 1313 Mockingbird lane
Posts: 9,689
Mentioned: 0 Post(s)
Quoted: 0 Post(s)
Quote:
Originally Posted by mcbear View Post
I too was at the mall yesterday, and Ikea [Jeez!]. What I noticed was a pretty full parking lot but when we watched as people came out, not so many had hands full of bags.

How many people go to the mall simply to kill time or wander around, looking for bargains.
You must have researched last months consumer spending index before offering your opinion on the mall crowds
yoseyman is offline  
Sponsored Links
Advertisement
 
Reply

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
     
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode



    Similar Threads
    Topic Author Forum Replies Last Post
    No recession in sight... Jayhawk Off-Topic 116 05-21-2010 01:43 PM
    What Recession.......... Prostitution booms in US.......... Jakarta Expat Off-Topic 17 04-16-2008 07:24 AM
    The 'Recession' Is a Media Myth Jayhawk Off-Topic 19 04-03-2008 08:36 PM
    Recession Marsden Off-Topic 117 01-22-2008 08:05 AM
    Pat Robertson predicts U.S. recession Jakarta Expat Off-Topic 18 01-04-2008 05:11 AM

    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On

     

    Title goes here

    close
    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome