quote:

Originally posted by QM:
I was wondering if you were going to suggest bombing them.

Only if China invades Taiwan.

quote:

Originally posted by SirNick58:
I just heard that on CNBC that the US housing market prices will fall 30 % more this year, so if you owna home say at about $400k, your going to Lose another $120k on your value this year, gotta love Bush !
Also oil price per Barrel $121.85
also no future tradeing on commidities(corn, wheat, rice and other food ) per the Fed. Chairman

Our home value fell 15% in one year (Apr '06 to May '07) and I feel most of that is due to the lack of regulation in the appraisal industry.

We added a substantial addition onto our house in order to bring my dad into our home. In order to get the construction loan we needed, the finished house had to be appraised at "X" - and no surprise it was. A year later I tried to refinance to get out of an interest only ARM and into a fixed rate mortgage (luckily the adjustment doesn't occur until 2013, so I stil have time). That appraisal - a year later and before the mortgage crisis/housing bubble burst - had the value down over 15%. This is in a town of just over 4,000 and as SteveSur said, "we're close enough to commute to many major areas offering high-tech/high-salary jobs".

I feel that the relationship between mortgage companies and appraisal firms needs to be more stringently regulated and/or inspected.

As for oil - I'd love to see the US doing more to increase domestic supply!! I'd also like to see our Government impose stricter fuel economy guidelines for the auto industry - without being pushed, I don't see the car companies doing enough on their own.

quote:

Originally posted by SirNick58:
I just heard that on CNBC that the US housing market prices will fall 30 % more this year, so if you owna home say at about $400k, your going to Lose another $120k on your value this year, gotta love Bush !
Also oil price per Barrel $121.85
also no future tradeing on commidities(corn, wheat, rice and other food ) per the Fed. Chairman

Good Lord, the herd of sheep just keeps growing.

quote:

Good Lord, the herd of sheep just keeps growing.

Does anyone here know what that means?

quote:

Originally posted by Dave the Cigar Man:
What a lot of people seem to overlook is that a HUGE part of the rise in oil is due to the weakening Dollar.

While the President doesn't directly control that, he can certainly work with the Fed to strengthen the dollar and shore up a lot of this price increase.

There are MANY factors that go in to all of this, the president has little control over most of it, but a little influence over a lot of it.

Yes. Yes. Yes. Thank you for reminding everyone of that.

The devaluation of the dollar plays a major role in the cost of fuel. Also, one of the main mechanisms for devaluing the dollar in the lowering of interest rates which discourages foreign investment.

quote:

Originally posted by Graham T.:
I don't know how much more strengthening with the FED he can do? There have been numerous rate drops already, at this point they are probably trying anything and everything behind closed doors.

Actually, this is the problem. I believe it is generally when you DROP interest rates that the US dollar is devalued. Intrest is just the "cost of money". If the cost of money is low, that means the value of money is low.

The fact that Iran just refused to stop accpeting US dollars for it's oil won't help us much either. All transactions with them are now in Euro's or Yen.

Obviously I'd rather not buy from them in the first place, but the fact is that ANYONE buying from them can't use $'s any more.

That's part of why oil surged again this week.

quote:

Originally posted by Dave the Cigar Man:

quote:

Originally posted by Graham T.:
I don't know how much more strengthening with the FED he can do? There have been numerous rate drops already, at this point they are probably trying anything and everything behind closed doors.

Actually, this is the problem. I believe it is generally when you DROP interest rates that the US dollar is devalued. Intrest is just the "cost of money". If the cost of money is low,
that means the value of money is low.

I agree. The more they drop rates the more the dollar value drops. It seems like now they are just appeasing the general public by trying to look they are scurrying furiously to fix the situation. Unfortunately I think only time will fix it while the market fluctuates accordingly.

quote:

Originally posted by Graham T.:

quote:

Originally posted by Dave the Cigar Man:

quote:

Originally posted by Graham T.:
I don't know how much more strengthening with the FED he can do? There have been numerous rate drops already, at this point they are probably trying anything and everything behind closed doors.

Actually, this is the problem. I believe it is generally when you DROP interest rates that the US dollar is devalued. Intrest is just the "cost of money". If the cost of money is low,
that means the value of money is low.

I agree. The more they drop rates the more the dollar value drops. It seems like now they are just appeasing the general public by trying to look they are scurrying furiously to fix the situation. Unfortunately I think only time will fix it while the market fluctuates accordingly.

The fed doesn't want the value of the dollar to increase. In fact, Bernanke has said numerous times that the value of the dollar is not his concern. He only looks at price stability, not the value of the dollar. These are HIS words, not mine. This has been the policy of the fed for quite some time now. It is the path toward globalization, which is in the best interest of corporate America and not necessarily the citizens of America. Having money that is equal in value to our neighbors is the first goal...which they have pretty much already achieved. Next is the world. We send all those jobs to China, India, and Mexico, not only for the cheap labor, but you are also creating millions BILLIONS of new consumers in the process. It is a win-win for the corporations, but some poor shlub in Ohio is still out a job. The low interest rates also profit the corporations yet AGAIN by spurring people to put money into the stock market rather than savings. One world economy is only achievable if equalization occurs. Quality of life here has to diminish as we raise the quality of life in other countries. Gold will keep rising. It will take its dips as it just has. In fact, we will see big swings back the other way, but in the long run, gold will continue it's general upward swing as oil follows and the dollar continues to fall until equalization occurs. Meanwhile, technology will keep getting better so you will have better xboxes and flat screen tv's to make you think quality of life is getting better, not worse, and keep your mind off the fact that you dont have any savings.

It's corporate America who pays for the political campaigns of BOTH parties, so nobody will ever do anything about it.

quote:

Originally posted by gasdoc:

The fed doesn't want the value of the dollar to increase. In fact, Bernanke has said numerous times that the value of the dollar is not his concern. He only looks at price stability, not the value of the dollar. These are HIS words, not mine. This has been the policy of the fed for quite some time now. It is the path toward globalization, which is in the best interest of corporate America and not necessarily the citizens of America. Having money that is equal in value to our neighbors is the first goal...which they have pretty much already achieved. Next is the world. We send all those jobs to China, India, and Mexico, not only for the cheap labor, but you are also creating millions BILLIONS of new consumers in the process. It is a win-win for the corporations, but some poor shlub in Ohio is still out a job. The low interest rates also profit the corporations yet AGAIN by spurring people to put money into the stock market rather than savings. One world economy is only achievable if equalization occurs. Quality of life here has to diminish as we raise the quality of life in other countries. Gold will keep rising. It will take its dips as it just has. In fact, we will see big swings back the other way, but in the long run, gold will continue it's general upward swing as oil follows and the dollar continues to fall until equalization occurs. Meanwhile, technology will keep getting better so you will have better xboxes and flat screen tv's to make you think quality of life is getting better, not worse, and keep your mind off the fact that you dont have any savings.

Well said. Scary isn't it?

quote:

Originally posted by Graham T.:

Well said. Scary isn't it?

Very!

Am I missing something or do the democrats control both houses of congress? I can see how Bush is responsible for global warming (just kidding, I'm not stoopit enouogh to fall for that hoax)and hurricanes, but the housing and credit crunch?

Yes, he is responsible for every problem in the universe. For example I have a stomach ache from eating too much..............and it's Bush's fault.

quote:

Originally posted by Graham T.:
Yes, he is responsible for every problem in the universe. For example I have a stomach ache from eating too much..............and it's Bush's fault.

My bachelor party is tomorrow night and I know I am going to drink too much and end up with a hangover. I already know who to blame.

President Bush has nothing to do with the current housing crisis. It mainly ties back to greenspan, in two respects. He kept excess liquidity in the market for way to long by keeping the federal funds rate excessivly low. Another is the development of morgage back securies. MBS's are not in themselves bad things, Greenspans error was that he was very much against regulating the derivitiveand hedge fund markets. With MBS's banks can sell their loans while taking on no risk, and with interest rates extremely low borrowers took on incresingly risky morgages, especially ARM's. All the blame does not lie with Greenspan, some lies with the people that took out loans who knew they could not afford them. The making of the fallout in the Morgage Back Security Market took place long before the current president . Bush is at fault for many things, but not this.

quote:

Originally posted by Graham T.:
Yes, he is responsible for every problem in the universe. For example I have a stomach ache from eating too much..............and it's Bush's fault.

But eating too much Bush ain't bad =)

quote:

But eating too much Bush ain't bad =)

Lol! indeed.