The Economy....

[G-MONEY]

You can keep the money in America by spending it at yard sales , going to a baseball game , or spend it on prostitutes , beer and wine (domestic ONLY) , or tattoos (like Larry's), since those are the only businesses still in the US .

you have to take baseball out of the picture how many Millions are going to Latino players who only have working visa and send all the money back home where they live during the off season

[Tequilasun]

Dont blame the underwriters, they are just doing what their banks credit policy department says to do. Then you go to the capital markets groups who gets there guidelines from the secondary markets and investors. The list goes on and on. If people would have only listened to me

Www.daveramsey.com common sense approach to managing your finances, and living debt free. I highly recommend it..

[chpthril]

Business News.....

1. The US has made a new weapon that destroys people, but keeps the building standing. It's called the stock market.

2. Do you have any idea how cheap stocks are? Wall Street is now being called Wal-Mart Street .

3. The difference between a pigeon and an investment banker: the pigeon can still make a deposit on a BMW.

4. What's the difference between a guy who lost everything in Las Vegas and an investment banker? A tie!

5. The problem with an investment bank balance sheet is that on the left side nothing's right and on the right side nothing's left.

6. I want to warn people from Nigeria - if you get any emails from Washington asking for money, it's a scam. Don't fall for it.

7. What worries me most about the credit crunch is that if one of my checks is returned stamped 'insufficient funds' I won't know whether that refers to mine or the bank's.


New Stock Market Terms

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investment banker to mistake himself for a financial genius.

BEAR MARKET -- A 6- to 18-month period when the kids get no allowance, the wife gets no jewelry.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW -- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who should be now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use

[Tequilasun]

#6 made me laugh so hard!

[Domsz06]

just plain sucks. We all know it, we all want to gripe about it, we may have some ideas how to fix it....so let's discuss.

I think we should vote out the 3 credit reporting agencies. Make them illegal. Too much of this current housing BS was based on credit scores (or made up credit score ratios) and not enough "ability to repay" diagnostics.

Case in point: When I bought my house (in the height of the credit craziness) I was told that I had excellent credit, and that I could "afford" a house that was roughly 4 times the price of the one I purchased. As a matter of fact, even with the low (fixed btw) interest rates at the time, the payments on the house I was able to "afford" (aka auto approved loan values) would have been about 3/4 of my take home salary. I know people got wrapped up in chasing this type of dream...I mean who doesn't want a super nice home? But I for one am glad I practiced some fiscal conservatism.
Oh, and I also had a pre-approved Heloc available to me on that larger house too....uggh!

I know that's not the only answer, but its a start...

Discuss...

they did the same thing to me too! they said I could buy a 750k house. I was like NO WAY!!

I had excellent credit too!

Now I still have excellent credit, and the credit cards are cutting my allowable credit in fear I'll run it up and then walk out. It's horse crap!! STUPID agencies. People in this town got wrapped up in it, bought new homes, cars etc, now they can't afford anything.

[Domsz06]

Get the news to shut up about how bad everything is!!!!!!!

amen to that!

The media is half the problem!! All they wanna do is report bad stuff!!

It's HORSE CRAP!

[Domsz06]

I agree, it's the way the information is used. I still thing the agencies are shady, Ive been round and round with them to remove missinformation from my reports. It's almost impossible. They seem to take any credit inquiry, or information from a financial institution with ease, but show them proof that negative credit remarks are wrong and you still can't be sure it will be removed. They have zero respect for the individual imho, because they have little incentive to be correct with their information.

I so agree!!

I have tried to get things removed, yeah right good luck!

[Domsz06]

We are the next Rome. Enough said.
---Democracy has yet to be proven succesful. but in the lower side, has ANYTHING been proven succesful?
Human GREED is bringing this country down from the inside; faster now more than ever. And guess what is going to happen when we get in a really really weak global position....WAR...possibly on our own turf this time. Nobody can be such a great global power for ever can they??? Russia has been carrying out bombing test runs in coordinance with Brazil since about the middle of last year... somebody is gearing up for something right??? China has the most man power to have ever existed. Iran is strengthening its nuclear programs, North Korea has returned their normal self, "P*ss in your toasties when you turn your back." WWIII is very very near in.....my....humble.....opinion.....

very well said!

we have gotten into this heated discussion at work so much! Esp how Rome destroyed it's self and we are doing the same thing essentially! yikes, WWIII? well lets just say that none of us will live to see it. The world will destroy it's self and the skies will be black! Watch out Matrix, the only thing I don't see happening is AI. It's not developed enough yet, so it's just gonna get ugly!

[Domsz06]

What a downer man

I think It will get much worse but we (USA) will never fall

your right we won't fail, but the WWIII will destroy the planet, someone will get trigger happy and well when 1 nuke goes, there will be 30 in the air before you can say go and then it's two late

[dogbert]

oh man, seems to me that fredom of the press means freedom to depress the sh1t outta everyone! Throw in the amazingly one sided coverage of anything Iraq, and the news makes me wanna vomit. Ever notice that the national news actually has to let you know when they report something possitive? "and now a little possitive story on the economy(Iraq, whatever)" they all do that same intro, maybe so we won't have a heart attack from the sudden shift from the norm?

I don't know why they don't just shift that timeslot to Viagra infomertials

Just like the Don Henley song Dirty Laundry.

[chadster2]

I saw Glen Beck tonight. It was like I was watching the war plans for
"Dec 7" the week before it happened.
He was talking about all the $$$$ with a "b" being sent out of our system.
Can the people in charge be that lost or are we under attack?
Really!
What is going on is wrong, it feels wrong, and it altogether consistently
wrong. I think we are being sold.

[Tequilasun]

it gets worse, Obama wants to make Veterans use their private health insurance to pay for their care at VA hospitals! Can you say increased premiums?

[gman]

chadster2
You think we are being sold? We ARE being sold!

[chadster2]

So is this a call to arms?
Or do we sit still till we are broke and hungry?
I'm thinking this is a real question!

[chadster2]

I'll take that as a NO!