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Has any one been watching the US economy? It has been taking quite a hit in the stock market. Due to the rejection of the bail out bill stocks plummeted again yesterday. I hope you all are watching yours/hubby's retirement funds, be sure they are invested in a safe stock. I already met a couple people whom have already lost their entire 401k due to Wall streets recent stock plummets. ↓
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| Name: lindalu | Date: Sep 30th, 2008 11:38 AM |
| For those of you who have not heard about the bail out proposal. It is a bill the US government placed in front of congress. They were asking for congress to approve a tax increase for all tax paying Americans, if this bail out proposal had passed all American tax payers would have had to pay an estimated $3600.00 this year on their taxes. What is the tax increase for? It is to bail out Wall street whom is on the verge becoming bankrupt. ↑ |
| Name: bmes | Date: Sep 30th, 2008 2:36 PM |
yeah my hubby told me it was the biggest one-day stock market drop in HISTORY!!!! that's absolutely CRAZY!!!!
i heard about the bailout plan from my hubby. i don't really pay much attention to that kind of stuff....so i don't know much about it. ↑ |
| Name: lindalu | Date: Sep 30th, 2008 11:25 PM |
| Yesterday there was another drop due to the rejection of the bail out proposal. It didn't drop as much as expected but that's only because people still think the bail out proposal will be passed. Hubby and I moved all our 401k money to safe funds. Were not taking any chances on losing money. ↑ |
| Name: bmes | Date: Oct 1st, 2008 10:48 AM |
| yeah....i hear the US economy is the totally fkin' shits right now. hopefully things can bounce back for you guys. ↑ |
| Name: lindalu | Date: Oct 1st, 2008 12:24 PM |
Oil prices dropped yesterday so that meant gas prices also dropped. The pumps were as low as 2.95 a gallon, I'll bet today there back up again.
There are so many Americans feeling this crunch. If you are an American and don't have your financial affairs in order then you are hurting. It is terrible! ↑ |
| Name: lindalu | Date: Oct 3rd, 2008 7:24 PM |
| President Bush signed for the bailout bill to pass today. So all you American tax payers be prepared for a tax increase. I think it sucks that because a bunch of businesses made bad financial decisions we the tax payers have to bail them out. If we didn't Main street businesses would suffer, loans such as student loans would be denied. So I guess to avoid a worse situation then we are already in it was the only thing to do. ↑ |
| Name: winnmom | Date: Oct 5th, 2008 2:38 AM |
Yes Lindalu, It is on the Canadian news a lot.......and canadians are worried too.......or some I hear of anyways.......
I hope that the econamy there does bounce back up soon........because this is a tragedy for many many people! ↑ |
| Name: lindalu | Date: Oct 5th, 2008 9:15 PM |
| Winn hows Canada's economy doing? I know Canada and the US have merged several banks in the last couple years. Not to mention Reuters was bought out by Thomson, Thomson is a Canadian owned bank/media firm. My thought is that if the US economy slumps then Canada will feel some of the pain. ↑ |
| Name: winnmom | Date: Oct 5th, 2008 11:04 PM |
Lindalu, that is a huge question,.....and will get diffrent answers where ever you ask........We have federal election going on right now.......the conservatives say we are doing well ( the conservatives were in a minority government- prime minister - conservative) the others say things are going bad.....bt then agan, they want to make the prime minister look bad, so they can get more votes......it is hard to say..........
I will say, that on the news, they have said, people in LARGE debt should be somehwat concerned.........
of course the stock market dropping has caused some very big concerns.....
the housing rate is Finally starting to even out instead of keep going up........turning into a buyers market......
for me........honestly........I say what ever happens in the states EVENTUALLY happens here......
with our $$ high, and the American economy the way it is.....yes I do believe Canada is suffering from it some what.....not nearly as large as the states ( yet anyways) ..........with our dollar high,Americans are not buying as much canadian.......
with the mortgages leveling out..people who have refinanced and put their debt into their home, will probably regret those choices some........
people are working more hours, to stay the same...........
on the news it is stating that people are beig more cautious of what they buy.........I know I am.....
with the costs of fuel , I try not to drive more then necessary........and the fuel costs are bringing up the sosts of EVERYTHINg, which i am sue is the same every where.....because everything is transported, and transporting costs have gone up due to fuel.........
even restaurants are paying more to have their fuel delivered, so there costs need to go up as well too.......
banks are not lending the way they did a few years ago either........
in the 80's we had a recession, and honestly, I do see this happening again, soon.....maybe not to the deree a then , but yes....i think everyone needs to prepare for it, here in canada....... ↑ |
| Name: lindalu | Date: Oct 6th, 2008 12:30 AM |
| Yes.....that's rite, Canada is also having an election this year. I'm not familiar with how the elections work in Canada. Are they going the way you hoped they would? Hopefully you people wont have to experience the financial crunch that some Americans are enduring rite now. ↑ |
| Name: bmes | Date: Oct 6th, 2008 2:53 AM |
yes....usually what happens in the states, eventually follows here. winn, i'm not sure about where you live, but i have noticed in alot of areas that real estate is starting to drop...not just level off. and banks are alot more stingy on giving out loans now too....
well...i'm not a big fan of ANY of our parties...lol....who is really? but i do have to say that since harper has been prime minister, i personally have found things alot better. i think our economy is doing alot better since he got in. you hear alot of people on tv say that Harper is the canadian version of Bush. I guess that's the liberals and the ndp's way of trying to scare us away from voting for him again.
i don't know...it's tough call. the liberals did a pretty good job of screwing this country, so i'm kinda reluctant to vote for them. so who am i going to vote for? ndp? ugh....maybe the green party!!! HA HA HA!!!! but for real....i really don't think harper has been doing that bad of a job. i think he's alright....hopefully!!! lol.... ↑ |
| Name: winnmom | Date: Oct 6th, 2008 12:18 PM |
Lindalu,
are things going the way i hope??? It is hard to say......I vote conservative........I believe conservative is indeed what is helping our country......the oher paries are stating( of course0 that this is what is bringing our Country down, which I do not believe for 1 minute.........We are seeing change, change is inevitable!!!!I
I am conserned that , Conservatve may not get voted into again, and I think this will be a HUGE mistake, for our Country!
Yes Bmes, home Prices are dropping.......banks are not lending...........people have rolled loans into their mortgages, and now they owe more ( or some do) then their homes are worth........yes prices are starting to go down, but to me it is leveling out because they are going for what they did last year, not the upped preices that people are asking for them........they are still more then they were 2 years ago........and running about what they were last year now........ ↑ |
| Name: bmes | Date: Oct 6th, 2008 2:41 PM |
i'm thinking the conservatives will get in....will it be a majority...i don't know....i guess we'll see eh?!?! everyone i've talked to at least, refuses to vote liberal. so that's a good sign i think.
omg winn....just a few months ago, we had a realtor come to our house to see how much we could sell for....just three months ago we could have sold our place fr 350,000....NOW if we sold, we would get under 300,000.....still...we bought it for 145,000 about 5 years ago now... ???? i think....lol....so yeah it's still up and i don't think it'll ever go down that low again (to 145,000)...luckily we never borrowed any more money against our home, so if/when we do sell, we should still have a fair amount of profit. ↑ |
| Name: winnmom | Date: Oct 10th, 2008 4:38 PM |
| well stock Market down more.........and Canadian dollar down more....... ↑ |
| Name: lindalu | Date: Oct 10th, 2008 5:48 PM |
This Fkn site is pissing me off! They FKN log you out just as you enter a reply so then you have to reelog in and retype your reply. You would think the fkn message would save so you dont have to type it all over again.
So now here goes again!
Winn,
I am very liberal! Sorry ,some may not like that.
I believe that all people regardless of race, color,sex, religion and sexual orientation deserve equal rites and opportunities.
I am not registered with either party I am an independent. The reason for my choice of enrollment is that.... I am not one for segregation and by enrolling either way will be segregating myself. In this election I have to say most would call me a democrat , I do sway more towards the democratic party.
So with having said that I would like to also state that this year I will be proud to cast my ballet with the democratic party. ↑ |
| Name: winnmom | Date: Oct 10th, 2008 8:41 PM |
I had no idea that people really cared one ay or another, how people vote...lol...I know a lot of people will not say who they vote for, I guess this is the reason?
I am not registered with any party either, but i do vote conservative.
years ago I was Liberal, but over time my thoughts, ideas, and values have changed, ....therefore I now am Conservative. ↑ |
| Name: winnmom | Date: Oct 10th, 2008 8:42 PM |
| Yes I can not stand this site anymore either, but love chatting with everyone.........I get frustated and do not come in for a while......but can not stay away for good, because really enjoy the chat, the ladies, the diffrent views, and ideas:) ↑ |
| Name: lynneings | Date: Oct 11th, 2008 3:27 AM |
| Its not great in the uk either! ↑ |
| Name: lindalu | Date: Oct 12th, 2008 12:18 AM |
lynneings
These times are really difficult for some and I'm finding its not just here in the states its global. ↑ |
| Name: Joeys_Mam | Date: Oct 12th, 2008 5:00 PM |
| Yeah Europe is just as badly hit by the credit crunch ↑ |
| Name: bmes | Date: Oct 13th, 2008 1:32 AM |
| yeah i never understood that either....why people don't want to tell you who they are voting for....like they are embarrassed or something... ???? who knows. i'll most likely vote conservative this year, for reasons that effect our personal lives at home. in mine and hubby's position in our lives, it's more benefitial for us to keep Harper in. do you think iif he wins it'll be a majority gov? ↑ |
| Name: bebe9281 | Date: Oct 13th, 2008 1:14 PM |
| All I know is that gas is $3.01 and I am thrilled... I am going to keep on keeping on and wait.... Can't move to Canada, things are just as bad there.. LOL]... Mexico would be good,,, but Eric would have to have a new license... guess we'll just wait and pray! ↑ |
| Name: bebe9281 | Date: Oct 13th, 2008 1:17 PM |
| HOWEVER........ unless you happen to be buying or selling a house, buying or selling stock, buying or selling anything of a large value, nothing has really changed... It is all cyclic... There is a cycle in ANY economy and things are a little shaky right now.... Go on with life... We all have a roof over our heads, plenty on the table and the love of our families... Why be freaked out??? It will all work out in the end!!!!! ↑ |
| Name: MichelleB | Date: Oct 13th, 2008 6:12 PM |
| Me and my hubby are watching our budgets and looking for good deals these days. It was our anniversary recently and my hubby wanted a good deal to buy me something pretty which was sweet. He bought me a diamond necklace from www.idonowidont.com ad it was perfect in every way, especially in price. I totally suggest telling your hubbies to pick you up a nice piece of jewelry from there sometime. The stock market made a huge jump today anyway. ↑ |
| Name: Joeys_Mam | Date: Oct 13th, 2008 6:22 PM |
| Well I'm selling my house and hoping to buy another. Prices are skyrockeding (especially food, electricity and oil) and the bank I bank with is under threat of going under. So yeah, I'd say it's pretty major for me. lol ↑ |
| Name: lindalu | Date: Oct 13th, 2008 8:52 PM |
| If you are a home buyer the market is great but if you need to sell your home you will lose thousands. ↑ |
| Name: lindalu | Date: Oct 13th, 2008 9:03 PM |
bmes
I can understand why people prefer not to announce who they voted for publicly. I cant begin to tell you how many people I have seen get in to full out argument over who they think would make a better president. I personally don't care who knows what party I will/have voted for. Some just try to avoid conflict due to political choice. ↑ |
| Name: Joeys_Mam | Date: Oct 14th, 2008 8:59 AM |
| Not really. The banks aren't lending so it's difficult to get a mortgage if you're a first time buyer, or to extend your mortgage if you're a second time buyer. ↑ |
| Name: lindalu | Date: Oct 14th, 2008 10:58 PM |
| It is great for the buyer because house prices are are low so if you are buying you can get a great deal. As for bank not lending, banks are lending there just cautious not to lend to noncredit worthy borrowers. ↑ |
| Name: Joeys_Mam | Date: Oct 15th, 2008 8:44 AM |
| No they're not, Even if you have a clean credit score, you need to put down a huge deposit. My sister can't get a mortgage even though she has a clean credit score. Banks are having to be bailed out here by the taxpayer and other banks are merging to survive. So while house prices have gone down by 40%, it's not much good to people unless you can get a mortgage, and that's really difficult now. My mortgage lender will only lend us a further £10k on our existing mortgage, whereas last year they were willing to lend us up to £60 more on our mortgage. And nothing has changed in our circumstances. So I wouldn't say it's that great for the buyer. I'm a buyer myself, but what good is it to me, if I can't sell my house, and if the people I'm buying off can't find a house to buy, as the chain isn't moving. That's the case over here anyway. ↑ |
| Name: Joeys_Mam | Date: Oct 15th, 2008 8:48 AM |
| Yes that's true that it's great for people like investors, people who don't need a mortgage. And it is wonderful if you get a mortgage and afford a huge deposit. But the reason the market isn't moving here is because people AREN'T buying, which is why properties aren't being sold. The reason people aren't buying is because the banks aren't lending like they were. Our house has dropped in value by £70k and STILL it's not selling, because very few are buying in this market. It's only great for SOME buyers. Maybe it's different in the States, but that's the way it is over here, as anyone will tell you. ↑ |
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