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Has the industry ever been hit this hard?

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Old 07-03-2009, 04:13 PM
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It will be interesting to judge the outcome of the first year. But it will be more interesting to see if households have learned anything. There's a reason why some things are regulated, seemingly in a stodgy sort of way. Their actions can indeed hurt the nation. The primary stimulus from 2003 onward was not tax cuts, but very cheap money, no oversight, and people using their homes as ATM machines.

During a three year period, more than 40% of the S&P 500's profits came from the financial sector. They were fake profits, as many call them now, but people were excited. Then cam the price inflation, higher and higher home prices, overspending and over leveraging. Still, some think it was a brilliant plan.
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Old 07-03-2009, 04:14 PM
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Thats not it ....... the banks do not want to lend money for boats new or used.
There's plenty of money available. Just not to many that assumed they could get another boat/home/ Hummer. If boat dealers lowered prices anymore, they'd all be out of business.
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Old 07-03-2009, 04:26 PM
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Old 07-03-2009, 04:50 PM
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It will be interesting to judge the outcome of the first year. But it will be more interesting to see if households have learned anything. There's a reason why some things are regulated, seemingly in a stodgy sort of way. Their actions can indeed hurt the nation. The primary stimulus from 2003 onward was not tax cuts, but very cheap money, no oversight, and people using their homes as ATM machines.

During a three year period, more than 40% of the S&P 500's profits came from the financial sector. They were fake profits, as many call them now, but people were excited. Then cam the price inflation, higher and higher home prices, overspending and over leveraging. Still, some think it was a brilliant plan.
Yes, govt meddling with the economy is a nightmare waiting to happen, and it did...
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Old 07-03-2009, 08:40 PM
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At this point in time...........We are putting our grandchildren into debt. Not really helping economy by throwing money at it. Obama's clan has no idea where the cash is going. The US government is financing a company from Italy buying out the number three car manufacturer in the world Fiat. I am sorry but I think we might as well sell everything we can and move to Fiji!

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Old 07-03-2009, 08:46 PM
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I could sell everything I own and still have to borrow money to go to Fiji!
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Old 07-03-2009, 08:48 PM
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At this point in time...........We are putting our grandchildren into debt. Not really helping economy by throwing money at it. Obama's clan has no idea where the cash is going. The US government is financing a company from Italy buying out the number three car manufacturer in the world Fiat. I am sorry but I think we might as well sell everything we can and move to Fiji!

The truth is the Kenyan Clown is a Communist ,Now how is that going to work??
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Old 07-03-2009, 09:42 PM
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Yes the industry has been hit this hard.....in the great depression.
What was it like back then? How did you survive? Did you sell sailboats or something? Maybe you can impart some lessons learned back then to some of the younger guys...if you can remember your youth that is!
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Old 07-04-2009, 08:43 AM
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The truth is the Kenyan Clown is a Communist ,Now how is that going to work??
He is just trying to buy himself re-election like every politician. He is just doing it on a much larger more destructive scale. His whole universe is 4 years long.
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Old 07-04-2009, 09:06 AM
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Some time soon, people and the press will realize this guy is an empty suit, pathological liar, and then turn on him. It is only a matter of time. He reminds me of so many con men sales guys I have met. You know the type. The only sale he ever really closes is the one convincing you to hire him at a huge base salary rather than pure commission because of his talents, leads, contacts and abilities. He impresses you with all that plus his smooth talking.

Then he gets on the job and wows you with all the prospects he already has working. Lunches, dinners, trips to meet with the prospects, and beautiful proposals. Weeks and months go by with nothing closed, but he is oh so close to making it happen. Then, just when you are about to get frustrated, along comes an even bigger and better hot lead. So, in the off chance that is the real deal, you give him more opportunity. Meanwhile, the first few hot prospects slowly fade from the conversation.

This cycle goes on for quite some time until you finally realize that this guy is a complete BS artist who kept all the balls in the air to keep you interested, in anticipatation of the great deal just around the corner. You have been had, conned, so you fire the guy and move on, but only after you wasted time, money and resources. Obama is just such a snake oil salesman. Hopefully, America wakes up and elects a Congress that will check this guy as it did in 1994. Hopefully, before it is too late and the damage becomes irreparable.

Have faith. Happy Birthday America!!! We will get through this, as always, and be better than ever.

Last edited by Mike A.; 07-04-2009 at 09:22 AM.
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