There is water rationing in CA even for farmers. Ethanol plants can use other organic material besides corn but the water issue prevents them from being able to function in CA like they do in the midwest.
Currently completing the following registry sets: Cardinal HOF's, 1961 Pittsburgh Pirates Team, 1972 Pittsburgh Pirates Team, 1980 Pittsburgh Pirates Team, Bill Mazeroski Master & Basic Sets, Roberto Clemente Master & Basic Sets, Willie Stargell Master & Basic Sets and Terry Bradshaw Basic Set
back to Bear Stearns the people that are suffering there are the 7000 workers that Jamie Dimon has to let go.
That whole deal is bound for the courts, the shareholders at this point would rather see it go under then sell it for 2.00 a share and who can blame them? 0 a share or 2.00 a share means they lose it all anyway.
As for Jim Cramer all of a sudden he is not talking stocks? lol ok.
But then again what would you like him to say? Get out of BS? it will fail over the weekend?
Actually Steve, if he could help people offset some huge losses then yeah, or how about don't say anything at all. He can control what emails he reads on his show, he decided to give a favorable opinion of BS on air. If it was a call in show were it was off the cuff I would give him more of a pass.
Currently completing the following registry sets: Cardinal HOF's, 1961 Pittsburgh Pirates Team, 1972 Pittsburgh Pirates Team, 1980 Pittsburgh Pirates Team, Bill Mazeroski Master & Basic Sets, Roberto Clemente Master & Basic Sets, Willie Stargell Master & Basic Sets and Terry Bradshaw Basic Set
I'm a mortgage broker and yes, this economy (plus college costs) has affected my spending.
Actually, home loans are available with 3% down payment. The media has people belieing that financing is impossible so they dodn't bother looking to buy a home. It is a good time to buy in most parts of the US. I've finally read a couple of articles in the major media sites saying the same thing. Just plan on stayong in your house for at least 5-10 years.
This is almost becoming a self-fulfilling prophecy. People hear about a potential recession so they cut back on spending which the media reports as a 'sign' of a recession so people buy even less which increases the liklihood of a recession. One of the other major problems is people used their equity lines on their homes as piggy banks and spent their way to happiness, or something like it.
This is the equivalent of the OT thread on an economics message board where someone posts pictures of the sportscard collection they just bought at a yard sale and how it must be worth thousands. "Cal Ripken rookie card? That has to be worth thousands!" "I saw a story on the news about a Mickey Mantle card that was stolen, it was worth $30,000! Your George Brett rookie has to be atleast $8,000-$15,000 !"
Turn off your TV's and put down the Kool-Aid. Ethanol is a scam. If you don't like the cost of milk and eggs, move to West Virginia and buy a cow and chicken.
I am an investment adviser for ING and trust me when I say that things are out of hand with costs. I am not turning this political but the war has cost us more than we bargained for. I say this because of the ripple effects of people retirement savings and debt to income ratios. Things are pretty bleak right now. The fed can lower interest rates all they want.....I think that the old saying is too little too late
No kidding the War is costing us a ton. Money diverted from a lot of other places.
I carpool to work with two folks who work for ATF. Currently they have no money budgeted for office supplies. They have to "borrow" paper, paper clips and other stuff from other departments. They have no money for relocation (one was offered a job in Virginia 11 months ago, but they can't afford to move her there.
Take care of the stuff at home before we keep flushing money down the toilet overseas.
yes money "diverted" to American Scientists, American researchers, American builders, American Servicemen, Why is it after every war there is an economic stimulus...think about what dragged us outta the great depression. Where do you think most of the the "money wasted on the war" is going? Just curious
I've sold some cards since august & putting all the proceeds into silver.... my shooting buddies are all loading up on ammo big time & guns as one can never have too much of those 2 items
I expect the market for the generic common stuff to be substantially lower later this year I expect bargain prices on many items, raw & graded especially modern drek as many are selling just to pay for daily living expenses, food, gas or to make a car payment.
Too many people can't pay their mortgages, are behind on car payments & their credit cards are maxxed out ++ their current investments are doing nothing but going down.
these people if they own any collectibles are selling to survive, week to week.
the good stuff should hold it's value as the buyer for those cards has money & won't be affected too much if at all.
Some experts expect a very serious problem for the average citizen that will last for 2 yrs or more that compares to the 30's.
since so few of us were living then, reading a history book is a real eye opener.
$10,000 homes went down to $100 BUT banks wanted CASH only, NO financing & few had the $$ to buy at the lower levels, the few that had Cash bought up entire blocks & when things went back to normal, sold & make a fortune.
I hope I'm wrong but many sport cards may be selling for pennies on the dollar if a real depression hit's the U.S.
Fortunatley for me, I am in a line of work that is not adversely affected by the economy, so I have been buying the same. I do sell here and there, and I have noticed that mid range items (SMR 20-50) have been going a bit lower than maybe six months ago, and I really don't sell anything more expensive than that for the most part.
<< <i>why ask, the ecomomy is good, ask fox news and fox business. >>
That statement is funny.
Collecting PSA graded Steve Young, Marcus Allen, Bret Saberhagen and 1980s Topps Cards. Raw: Tony Gonzalez (low #'d cards, and especially 1/1's) and Steve Young.
Steve if Jim Cramer is giving his opinions on stocks then he is fair game for criticism when he is wrong, that is all. He was hugely wrong and tried to spin it afterwards so yeah he deserves being bashed. Again, I think he could of avoided the whole thing but chose to give an opinion and was incorrect.
Currently completing the following registry sets: Cardinal HOF's, 1961 Pittsburgh Pirates Team, 1972 Pittsburgh Pirates Team, 1980 Pittsburgh Pirates Team, Bill Mazeroski Master & Basic Sets, Roberto Clemente Master & Basic Sets, Willie Stargell Master & Basic Sets and Terry Bradshaw Basic Set
That light is a DEPRESSION train headed for the entire world.
"This is going to get out of control. It's goint to get out of control, and we will all be lucky to live through it." >>
You seem to have a lot of trouble distinguishing between possible (or even probable) outcomes and inevitable outcomes. Is it possible that we are approaching the dawn of a global depression? Yes. Is it a hammer-lock guarantee? Only a fool would suggest as much, since much depends on a number of macroeconomic variables which are impossible to forecast.
As a pawnbroker and money lender for decades, I know what "worse than bad" conditions look like.
As a foolproof indicator on where the economy is headed, I look at the values of incoming collateral/pledges AND the total number/value of tickets written. In normal times, I see thousands of poor folks bringing in their paltry stuff every month. In the past three months, the demographics of my customer base has shifted dramatically; I am seeing LOTS of the "new poor," FAR better pledges, and a 300%+ overall hike in the number of tickets written.
Historically, I have used my own funds to float the operations of my outlets and those of the partners I invest in. I can no longer do that and still fund the other investments that appeal to me. I am now paying 12%+ on bank lines that had previoulsy been used ONLY for real-property purchases.
In 2005, my total ad budget was about $35K. Thus far, in 2008, I have spent ZERO dollars on ads; no print, no radio. All outlets are fully staffed, stay open until midnight, and the customer flow is almost non-stop. National chains are the primary competition, and if I could open five more drops this month, ALL would be profitable in a matter of weeks.
People NEED CASH in numbers that I have NEVER seen before. These people look JUST LIKE you and I look. They are NOT the usual suspects.
In my primary market, the housing bubble is still intact, but unemployment is increasing. In my secondary market, the HB has burst. Business is SUPER brisk in both markets.
My finger on the pulse is anecdotal, BUT my sample is more than big enough to tell me how bad things are. You can naysay the obvious by taking an academic stance, BUT I am in the trenches and I see what is happening and where we are likely to end up. 2009 will be GRIM, and there is NO good light at the end of any tunnels.
Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
Today I traded all of my cards for 2 cases of AK-47s and 100K rounds of ammo. I have been canning food for the past months and built a hidden room under the house. I plan to go "off paper" very soon. Also if anyone has any gas masks or propane generators plmk.
I have never seen an economy so hard hit by speculation. I guess it is the downside of living in a society where we are subjected to constant media speculation. While times are not great, unemployment is low especially compared to historical levels and 95%, that's right 95% of homeowners pay their mortgage on time. The weak U.S. dollar is not a good thing, but it is hardly reason to act like the sky is falling. There are several other indicators as well. Just look at the price of gold dropping quite a bit over the last couple of days. My guess is people who are taking advantage of perceived fears are selling off. While everyone else is panicing, smart investors are buying.
As far as the cards I buy, mid-grade vintage stars I have seen virtually no change in prices. I choose to see the glass half-full and most people who are that close to the edge of losing money probably should not have spent a lot of money on cards in the first place.
Steve if Jim Cramer is giving his opinions on stocks then he is fair game for criticism when he is wrong, that is all. He was hugely wrong and tried to spin it afterwards so yeah he deserves being bashed. Again, I think he could of avoided the whole thing but chose to give an opinion and was incorrect.
Comments
That whole deal is bound for the courts, the shareholders at this point would rather see it go under then sell it for 2.00 a share
and who can blame them? 0 a share or 2.00 a share means they lose it all anyway.
As for Jim Cramer all of a sudden he is not talking stocks? lol ok.
But then again what would you like him to say? Get out of BS? it will fail over the weekend?
Steve
Actually, home loans are available with 3% down payment. The media has people belieing that financing is impossible so they dodn't bother looking to buy a home. It is a good time to buy in most parts of the US. I've finally read a couple of articles in the major media sites saying the same thing. Just plan on stayong in your house for at least 5-10 years.
This is almost becoming a self-fulfilling prophecy. People hear about a potential recession so they cut back on spending which the media reports as a 'sign' of a recession so people buy even less which increases the liklihood of a recession. One of the other major problems is people used their equity lines on their homes as piggy banks and spent their way to happiness, or something like it.
Joe
Turn off your TV's and put down the Kool-Aid. Ethanol is a scam. If you don't like the cost of milk and eggs, move to West Virginia and buy a cow and chicken.
No cows there, my friend.....very few chickens, also.
I carpool to work with two folks who work for ATF. Currently they have no money budgeted for office supplies. They have to "borrow" paper, paper clips and other stuff from other departments. They have no money for relocation (one was offered a job in Virginia 11 months ago, but they can't afford to move her there.
Take care of the stuff at home before we keep flushing money down the toilet overseas.
yes money "diverted" to American Scientists, American researchers, American builders, American Servicemen,
Why is it after every war there is an economic stimulus...think about what dragged us outta the great depression. Where do you think most of the the "money wasted on the war" is going? Just curious
Do you really think Cramer knew that it would implode?
His advice at the time sounded prudent......to him at least.
Just like anything the news people monday morning quarterbacked that whole incident.
Steve
my shooting buddies are all loading up on ammo big time & guns as one can never have too much of those 2 items
I expect the market for the generic common stuff to be substantially lower later this year
I expect bargain prices on many items, raw & graded especially modern drek as many are selling just to pay for daily living expenses, food, gas or to make a car payment.
Too many people can't pay their mortgages, are behind on car payments & their credit cards are maxxed out ++ their current investments are doing nothing but going down.
these people if they own any collectibles are selling to survive, week to week.
the good stuff should hold it's value as the buyer for those cards has money & won't be affected too much if at all.
Some experts expect a very serious problem for the average citizen that will last for 2 yrs or more that compares to the 30's.
since so few of us were living then, reading a history book is a real eye opener.
$10,000 homes went down to $100 BUT banks wanted CASH only, NO financing & few had the $$ to buy at the lower levels, the few that had Cash bought up entire blocks & when things went back to normal, sold & make a fortune.
I hope I'm wrong but many sport cards may be selling for pennies on the dollar if a real depression hit's the U.S.
God help Us.......
a 30's style depression was world wide.
Steve
actually the way to increase prices is to get more people with money into the hobby.
that is a tough one, as many of the younger generation believes that baseball and the country for that matter, started in 1980.
for the most part, have no sense of history.
<< <i>why ask, the ecomomy is good, ask fox news and fox business. >>
That statement is funny.
Raw: Tony Gonzalez (low #'d cards, and especially 1/1's) and Steve Young.
<< <i>"...there are some things they have mentioned that show there is a light at the end of the tunnel. "
//////////////////////////////////////////////////////////////////////
That light is a DEPRESSION train headed for the entire world.
"This is going to get out of control. It's goint to get out of
control, and we will all be lucky to live through it." >>
You seem to have a lot of trouble distinguishing between possible (or even probable) outcomes and inevitable outcomes. Is it possible that we are approaching the dawn of a global depression? Yes. Is it a hammer-lock guarantee? Only a fool would suggest as much, since much depends on a number of macroeconomic variables which are impossible to forecast.
/////////////////////////////////////////////////////////////////////////////
As a pawnbroker and money lender for decades, I know what "worse than
bad" conditions look like.
As a foolproof indicator on where the economy is headed, I look at the values
of incoming collateral/pledges AND the total number/value of tickets written. In
normal times, I see thousands of poor folks bringing in their paltry stuff every
month. In the past three months, the demographics of my customer base has
shifted dramatically; I am seeing LOTS of the "new poor," FAR better pledges,
and a 300%+ overall hike in the number of tickets written.
Historically, I have used my own funds to float the operations of my outlets and
those of the partners I invest in. I can no longer do that and still fund the other
investments that appeal to me. I am now paying 12%+ on bank lines that had
previoulsy been used ONLY for real-property purchases.
In 2005, my total ad budget was about $35K. Thus far, in 2008, I have spent
ZERO dollars on ads; no print, no radio. All outlets are fully staffed, stay open
until midnight, and the customer flow is almost non-stop. National chains are
the primary competition, and if I could open five more drops this month, ALL
would be profitable in a matter of weeks.
People NEED CASH in numbers that I have NEVER seen before. These people
look JUST LIKE you and I look. They are NOT the usual suspects.
In my primary market, the housing bubble is still intact, but unemployment is
increasing. In my secondary market, the HB has burst. Business is SUPER brisk in
both markets.
My finger on the pulse is anecdotal, BUT my sample is more than big enough to tell
me how bad things are. You can naysay the obvious by taking an academic stance,
BUT I am in the trenches and I see what is happening and where we are likely to end
up. 2009 will be GRIM, and there is NO good light at the end of any tunnels.
////////////////////////////////////////////////////////
AKs will get you through times of no cards, better than cards will get you through times of no AKs.
Steve
<< <i>"Today I traded all of my cards for 2 cases of AK-47s and 100K rounds of ammo..."
////////////////////////////////////////////////////////
AKs will get you through times of no cards, better than cards will get you through times of no AKs.
storm speaks the truth.
As far as the cards I buy, mid-grade vintage stars I have seen virtually no change in prices. I choose to see the glass half-full and most people who are that close to the edge of losing money probably should not have spent a lot of money on cards in the first place.
Thanks for the link............
another example that "chicken Little" is alive and well....
Isn't that what I basically said?
Steve
Average recession/depression last 1.5 years. Average recovery in the market after that is well over 100%...often in the first year of recovery.
You didn't think the cost of housing was a little inflated?
"Molon Labe"