Hey Big......Boing !

RYou · 10-01-2007, 05:37 PM

Dow closes at new record to start 4th quarter
Index roars past 14,000; Big Nokia deal offsets warning from Citigroup

Boing ! That was the boomerang that just hit you in the head.

Big · 10-01-2007, 05:40 PM

Desperation attempt that is all. In the end it will not materialize. There is nothing concrete driving this economy.

Housing slump is still there and will not go anywhere.

wrastler118 · 10-01-2007, 07:47 PM

I have to agree. The huge amount of foreclosures on homes across the US will have a tremendous negative outcome on the economy. Its only a matter of time before the bubble bursts and it all comes crumbling down.

RYou · 10-01-2007, 10:29 PM

The fed won't let that happen. Today's boom was on the likelyhood the Fed bank will lower interest rates once again. The banks have been given instruction to work with anyone in distress. What that means is stretching payments out to lower the monthly payment.

Housing may not snap back to average until 2010 but this is action to stopped the major bleeding. Inflation may creep up but if they don't alter the housing market, the economy could collapse entirely.

hardcore · 10-01-2007, 10:54 PM

Much less painful to pay back our foreign debt holders with greenbacks that are worth less and less with each passing day.

Yup, everything looks just hunky dory when I wear these rose colored glasses.

wrastler118 · 10-01-2007, 11:09 PM

I;m telling you the housing market is a lot worse than you think. Just drive down a couple of long strips of houses and I wouldn't be surprised if you see a several handfuls of houses for sale. And I would gather its not because they want to seel. Its because they have to because they can't afford it or the bank is going to repo it.

goferphan · 10-01-2007, 11:33 PM

i don't think people "repo" houses, i believe they call it "foreclose"

RYou · 10-02-2007, 06:17 AM

"Tuesday’s report that inflation appears to be under control will give the Federal Reserve’s interest rate-setting committee a little breathing room to make a widely-expected cut in its target federal funds rate for the first time in more than four years."

wrastler118 · 10-02-2007, 07:52 PM

Originally Posted by goferphan

i don't think people "repo" houses, i believe they call it "foreclose"

Its the same thing. They advertise repo houses for sale all the time over here.

hardcore · 10-02-2007, 10:14 PM

Originally Posted by RYou

"Tuesday’s report that inflation appears to be under control will give the Federal Reserve’s interest rate-setting committee a little breathing room to make a widely-expected cut in its target federal funds rate for the first time in more than four years."

They cut it again and it will help to futher the dollars decline. I'm staying with the forex market a while longer. The fed is just making it too easy for anyone who is betting on the dollars continued decline. They continue to do the opposite of what the worlds leading economist are recommending.

Hey Big......Boing !

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