Interesting Statistics From Dave Ramsey Townhall for Hope
* 50% of United States foreclosures in 2008 came from 35 counties in 12 states.
* 20% of the United States’ population lives in these 35 counties.
* Eight counties in Arizona, California, Florida and Nevada were the source of 25% of foreclosures.
* 4.7 million homes were sold in February, 2009 alone, and only 860,000 homes were repossessed all of 2008.
* 1938–40: Unemployment grew to over 17%, the Stock Market dropped 89%, and bread lines were real; executives didn’t fly Gulfstreams to Washington, D.C. looking for bailouts.
* 1974: The Stock Market dropped 50%, gas lines snaked around the block, and inflation became stagflation, i.e. inflation in a stagnant economy.
* 1982: Inflation was over 10%, unemployment was over 10%, and the interest rate reached 17% on home mortgages.
* 2009: Unemployment is at 8.5%, there is no inflation, and the home mortgage rate is 4 3/8%. The Stock Market dropped 57%, but it has recently risen from a low of 6400 to over 8000.
"Timeo Danaos et dona ferentes" - Virgil, The Aeneid, Book 2
If the Arabs put down their weapons today, there would be no more violence. If the Jews put down their weapons today, there would be no more Israel. --Benjamin Netayahu
Just providing context for when you read the Headlines that trumpet doom.
So, are you willing to actually show the context of those bullet points or just assume they are all connected?
Some are relevant, some are not. One of the most important traits a person can have is the ability to understand what is real, what is relevant and what is not on the internet. Just because it is there does not mean it connects.
As an example: "...and only 860,000 homes were repossessed all of 2008." That only accounts for homes that were actually repossessed, and doesn't account for homes that were turned in, homes that were distress sold, homes that have been abandoned and not turned over to banks or homes that are "in process". That total number is 3.324Million for all of 2008. [It is easier to use the Comptroller of the Currancy, Administrator of National Banks, Department of the Treasury's Annual Report from earlier this month as a better source] http://www.occ.treas.gov/ftp/release/2009-37a.pdf
TNT is stepping perilously close to the facts. Will his head explode when he finds out those stats are telling him that the vast amount of default mortgages had nothing to do with the CRA and Barney Frank? We all know what a hell-hole of poverty Santa Barbara is. Keep digging Tboy, you might actually learn the truth.
__________________
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
Psychoanalysis of our resident military drone aside, I have no problems with those in the media who recognize that it's possible (and indeed beneficial) to report on both the positive and negative aspects of the economy.
ANYONE with an opinion about the economy is right. If they think it's bad, it's going to be bad. If they think it's fine, it's going to be fine. You can chart it and graph it and slice it up nine ways from Sunday. The oil that keeps the gears of our economy turning is optimism. Take it away and see how quickly everything seizes up.
__________________
"It's not that the Democrats are playing checkers and the Republicans are playing chess. It's that the Republicans are playing chess and the Democrats are in the nurse's office because once again they glued their balls to their thighs."
Lotta greed and thinning of the crops.
I lived through the recession (which was a depression) in Detroit , back in the early 80's, as well as the 74 recession.
Things are rough, yet not near as bad as I recall it then.
Correct, a positive attitude and a aggressive behavior will help ride through a lot of this.
People relocate, unnecessary stores close (bed bath and beyond? Linens and things?) since purchases can be done at more reasonable prices. People keep their new car a few more years, and belts get tightened.
Interestingly the savings rate of americans has now rose. It was 0% , and now it is 4%. Bad for the economy because the money is not being spent? Yup! Right thing to do? Yup!
The construction industry overbuilt. Mortgages were given away to people who shouldn't have gotten them ( thank you Barney Frank), and chaos ensued. This could be seen on the horizon for 3 years before it hit. This was no surprise, in the construction industry (my trade as architect). Nobody paid attention.
I will say it is worse than I expected, but what made it worse (in my opinion) was when Bush, and now Obama started bailing things out with Billions of our dollars. The economy would have been better to collapse and rebound, instead of this slow downward spiral, that out grand kids must now pay for.
Ok, I vented and it is my opinion, but I in reality am optimistic in certain sectors.
Energy and renewables as well as the research field.
I think energy will be our new Dot Com like economy.
So, are you willing to actually show the context of those bullet points or just assume they are all connected?
Some are relevant, some are not. One of the most important traits a person can have is the ability to understand what is real, what is relevant and what is not on the internet. Just because it is there does not mean it connects.
As an example: "...and only 860,000 homes were repossessed all of 2008." That only accounts for homes that were actually repossessed, and doesn't account for homes that were turned in, homes that were distress sold, homes that have been abandoned and not turned over to banks or homes that are "in process". That total number is 3.324Million for all of 2008. [It is easier to use the Comptroller of the Currancy, Administrator of National Banks, Department of the Treasury's Annual Report from earlier this month as a better source] http://www.occ.treas.gov/ftp/release/2009-37a.pdf
McBear, WTF are you talking about?
The facts speak for themselves.
Feel free to go down the rabbit hole of analysis all you want.
50% of the economy is between our ears.
As I said in the post, they are for CONTEXT! Of course they do not answer the deep underlying issues of why each and every person in this country who is having a hard time in this cycle is having said hard time.
My objective was to show that in fact it is not nearly as bad as the media trumpets it all out to be.
And for the record, the media trumpets it all this way because the whole "FEAR, DREAD, SCARE" sells copy.
Again, take it at face value and stop trying to make something out of nothing.
TNT is stepping perilously close to the facts. Will his head explode when he finds out those stats are telling him that the vast amount of default mortgages had nothing to do with the CRA and Barney Frank? We all know what a hell-hole of poverty Santa Barbara is. Keep digging Tboy, you might actually learn the truth.
The AutoGuide.com network consists of the largest network of enthusiast-owned enthusiast-operated automotive communities.
AutoGuide.com provides the latest car reviews, auto show coverage, new car prices, and automotive news. The AutoGuide network operates more than 100 automotive forums where our users consult peers for shopping information and advice, and share opinions as a community.
Linear Mode
