Uh Oh!
- Thread starter El and Bill
- Start date
Captains Cat
New member
dotnmarty":28x7cbmt said:
Must be because I'm not retired yet. Fortunately, I think I'm good for 5-6 more years, working at home, at the old salary, no travel except occasionally, no need to hit the 401K's (fortunately), just started collecting Social Security (albeit with a healthy tax bite out of it) and I can keep it all, except what Uncle takes back.... I hope there's an "afterlife".. :thup
Charlie
Captains Cat
New member
Heck, I do all those now but the ABE LINCOLN doesn't come up our creek!
:shock:
Charlie
:shock:
Charlie
Captains Cat
New member
Yeah, been there, done that, from both sides. Saw it done on a Battleship a couple of times too, looks great when those 16" turrets rotate, along with all the 5" and the Tomahawk Box Launchers elevate and the radars all start to rotate. Oh Yes, and the CIWS Guns all start to rotate and rattle! A sight one will NEVER forget! This was when they were commissioned in the 1980's...
Charlie
Charlie
marvin4239
New member
We get to see on occasion the carriers come into Mayport Naval Station after deployment. What a breath taking and emotional sight it is and really makes one proud to be an American.
Hello,
Bought gas in Stockton, New Jersey for 2.84 and nine tenths had to pay cash. Things coming down in price is this the deflation that someone was talking about? Sara Palin showed up at a Philadelphia flyers hockey game. And as things often go in Philly they booed her. Kinda of a shame she had the kids with her. Our company's bank has money to loan and the rates there are dropping. Our credit union is the same way. People with excellent credit can still get loans if they choose if their bank is stable. It seems these two institutions didn't get involved in the sub prime mess. We didn't need to borrow money but wanted to check. For myself I had an approval for 45k if I wanted to jump on a good boat deal which was all I asked for. The interest rate has dropped to 5.5%. I have some paper that matures in May of 09 that will let me pay cash for a 22' Cruiser but it'd nice to have options. In the mean time I bought a Morized Kayak called a Mokai that Jay and Jolee have and recommended. It runs eight hours on a three of gas and I pull it on a light weight aluminum trailer that can hold three or four other kayaks with a Honda Civic. It let's me fish the Delaware River and gets into places bigger boats can't. Life is good!
D.D.
Bought gas in Stockton, New Jersey for 2.84 and nine tenths had to pay cash. Things coming down in price is this the deflation that someone was talking about? Sara Palin showed up at a Philadelphia flyers hockey game. And as things often go in Philly they booed her. Kinda of a shame she had the kids with her. Our company's bank has money to loan and the rates there are dropping. Our credit union is the same way. People with excellent credit can still get loans if they choose if their bank is stable. It seems these two institutions didn't get involved in the sub prime mess. We didn't need to borrow money but wanted to check. For myself I had an approval for 45k if I wanted to jump on a good boat deal which was all I asked for. The interest rate has dropped to 5.5%. I have some paper that matures in May of 09 that will let me pay cash for a 22' Cruiser but it'd nice to have options. In the mean time I bought a Morized Kayak called a Mokai that Jay and Jolee have and recommended. It runs eight hours on a three of gas and I pull it on a light weight aluminum trailer that can hold three or four other kayaks with a Honda Civic. It let's me fish the Delaware River and gets into places bigger boats can't. Life is good!
D.D.
Quite a day...if my three minute research is correct, the DOW had it's 2nd best day ever based on points gain, and 5th if measuring percentage gain.
Just one day, I know...
On edit...whoops. Largest point gain ever, percentage gain highest since 1933.
5 more days like this, and we'll all be fine. :lol:
Just one day, I know...
On edit...whoops. Largest point gain ever, percentage gain highest since 1933.
5 more days like this, and we'll all be fine. :lol:
starcrafttom
Active member
I would prefer to get good money for your kidney.
El and Bill
New member
How about this for the reason: The British are coming!!
The British government (Gordon Brown, the Prime Minister) is apparently on top of the proper solution to the economic crisis. They clearly defined the proper nature of the financial crisis (missed by our government, in my opinion) and are apparently showing the lead out of the morass.
The problem, as we all understand it, was caused by unregulated and overly generous loans to homeowners and then the obscure packaging of those loans and their resale. This ultimately destroyed faith in credit and caused panic in all markets. The Brits identified that the way to control the problem is to put more capital into financial institutions in exchange for a share of ownership of those institutions.
According to news articles, Paulson, our Treasury Sect'y rejected this obvious idea, and instead advocated the bailout by buying the difficult-to-prie subprime. This would take months or years.
The British committed funds today, (after a European summit yesterday) as did other European governments and the foreign markets jumped upward, and our Dow went up almost 1,000 points today. Paulson has announced he will follow the British lead.
Will this solve the crisis? No one knows, but the reaction of the markets today gives an indication that many believe this is the right course of action. The lift in the markets today could be a 'dead cat' bounce - the 15-50% recovery that often follows a sharp decline, and may not be sustained. It will depend more on the fundamentals of the economy itself, and not just on the availability of credit. Fingers crossed for those with losses in their portfolios. And, as I've said many times before, the sun will rise tomorrow and a C-Dory is a perfect 'escape' into reality.
The British government (Gordon Brown, the Prime Minister) is apparently on top of the proper solution to the economic crisis. They clearly defined the proper nature of the financial crisis (missed by our government, in my opinion) and are apparently showing the lead out of the morass.
The problem, as we all understand it, was caused by unregulated and overly generous loans to homeowners and then the obscure packaging of those loans and their resale. This ultimately destroyed faith in credit and caused panic in all markets. The Brits identified that the way to control the problem is to put more capital into financial institutions in exchange for a share of ownership of those institutions.
According to news articles, Paulson, our Treasury Sect'y rejected this obvious idea, and instead advocated the bailout by buying the difficult-to-prie subprime. This would take months or years.
The British committed funds today, (after a European summit yesterday) as did other European governments and the foreign markets jumped upward, and our Dow went up almost 1,000 points today. Paulson has announced he will follow the British lead.
Will this solve the crisis? No one knows, but the reaction of the markets today gives an indication that many believe this is the right course of action. The lift in the markets today could be a 'dead cat' bounce - the 15-50% recovery that often follows a sharp decline, and may not be sustained. It will depend more on the fundamentals of the economy itself, and not just on the availability of credit. Fingers crossed for those with losses in their portfolios. And, as I've said many times before, the sun will rise tomorrow and a C-Dory is a perfect 'escape' into reality.
We're close to being home - just a few more days. Right now, we are in a nice RV park in the Dallas area, visiting the Mom-in-law. What does that have to do with the economy? I'm getting there. We were able to get the last RV site available in the park yesterday; I mentioned to the lady at the front desk that I was surprised at how full they were. Her response: "People have had to move out of their homes due to the economy; that's a big portion of our business right now."
:shock:
In the last week or so, the highways have been FULL of RVs. Keeping in mind that we did pass through the Albuquerque area during the Balloon Fiesta, there didn't seem to be any lack of folks traveling. Fuel prices have been all over the place, varying by as much as $.40 per gallon from station to station, town to town. The competitive priced stations had the most business.
The news from Wall Street today was certainly a refreshing change. No idea if this is a turn-around, but I'm hopeful that it will slow the panic selling.
Heading for the boat,
Jim B.
:shock:
In the last week or so, the highways have been FULL of RVs. Keeping in mind that we did pass through the Albuquerque area during the Balloon Fiesta, there didn't seem to be any lack of folks traveling. Fuel prices have been all over the place, varying by as much as $.40 per gallon from station to station, town to town. The competitive priced stations had the most business.
The news from Wall Street today was certainly a refreshing change. No idea if this is a turn-around, but I'm hopeful that it will slow the panic selling.
Heading for the boat,
Jim B.
El and Bill
New member
The market has continued to fall and the 'fixes' may or may not be working. The crunch has spread overseas and the myth that our economy and that of overseas countries was delinked has been proven bogus. Iceland is seeking loans from Russia to stay solvent, and markets everywhere are tanking. Unemployment here is rising to levels not seen for many years and the worst news is yet to come. Paulson fumbles around in Washington with the existing governmental philosophy of no government interference in the markets -- no oversight, no regulations -- and now a huge sum of newly printed money to 'bail-out' the unregulated greed of commercial banks.
Closer to home: We are Nevadans, and even in our ghost town of Nelson ( http://www.geocities.com/bill_fiero/nelson.htm ) the economy has been hit. The store in town shown at the top of the above page has closed! The rattlesnakes are down to eating crickets, and last week a tarantula was spotted hitch-hiking to California (and good grief, when was the last time a Nevadan moved there?)
For Nevada as a state: Tourism is on the wane, causing Strip casino revenues to fall for eight straight months and companies like Harrah's Entertainment to make big layoffs. Unemployment is now up to 7.3 percent, the state's highest in 23 years. With credit hard to come by, home builders and Vegas moguls have halted new projects. Nowhere has the housing bust been felt as acutely: Nevada has owned America's highest foreclosure rate for 20 straight months, and according to the Greater Las Vegas Association of Realtors, home prices in Southern Nevada have gone down 31 percent since last September.
I know - this doesn't affect most of you - but it is a clear indication of what is (or will be) affecting you. I won't go into the litany of falling numbers for your investments or the rising numbers of unemployed.
Now, back to the core question of this thread - how will this affect boating? The cost of fuel has dropped, but there is still the uncertainty of jobs, investments, securing credit for large purchases, and the overall economic future. This has already affected the sale of boats and the number of boats using marinas nightly.
I know this affects our cruising plans. We were considering a trip around The Loop (circumnavigation of the Eastern States) again next year. But now, with some unexpected medical expenses (another stent put in early this week)and the loss of income from investments, we are thinking we should keep our expenses to a minimum -- still live on the boat next spring, summer and fall but (like this year) not cruise the distances we have in the past. How about you folks?
Closer to home: We are Nevadans, and even in our ghost town of Nelson ( http://www.geocities.com/bill_fiero/nelson.htm ) the economy has been hit. The store in town shown at the top of the above page has closed! The rattlesnakes are down to eating crickets, and last week a tarantula was spotted hitch-hiking to California (and good grief, when was the last time a Nevadan moved there?)
For Nevada as a state: Tourism is on the wane, causing Strip casino revenues to fall for eight straight months and companies like Harrah's Entertainment to make big layoffs. Unemployment is now up to 7.3 percent, the state's highest in 23 years. With credit hard to come by, home builders and Vegas moguls have halted new projects. Nowhere has the housing bust been felt as acutely: Nevada has owned America's highest foreclosure rate for 20 straight months, and according to the Greater Las Vegas Association of Realtors, home prices in Southern Nevada have gone down 31 percent since last September.
I know - this doesn't affect most of you - but it is a clear indication of what is (or will be) affecting you. I won't go into the litany of falling numbers for your investments or the rising numbers of unemployed.
Now, back to the core question of this thread - how will this affect boating? The cost of fuel has dropped, but there is still the uncertainty of jobs, investments, securing credit for large purchases, and the overall economic future. This has already affected the sale of boats and the number of boats using marinas nightly.
I know this affects our cruising plans. We were considering a trip around The Loop (circumnavigation of the Eastern States) again next year. But now, with some unexpected medical expenses (another stent put in early this week)and the loss of income from investments, we are thinking we should keep our expenses to a minimum -- still live on the boat next spring, summer and fall but (like this year) not cruise the distances we have in the past. How about you folks?
El and Bill":2y5van03 said:
We're still constrained by circumstances not fuel costs, Bill. True our portfolio has been somewhat of a reflection on our economy, but there are bright spots (QCOM bought in 2002 at $27 has since split 2/1 and is $36 today). The lows? Magellan (Mary's IRA's) is now worth close to what she's been pumping in for the last 20 years :shock: Nevertheless, we haven't given up on the market - in spite of the fact that our gummint wants to mess with it.
Nope, the economy hasn't yet and hopefully won't affect our basic spending habits. If anything, we've taken advantage of it since local contractors are scrambling for work. ANY work, and we get highly skilled workers instead of semiskilled doing the work, barely supervised by the really skilled employees.
Don
Bill and El-
I know you don't have a crystal ball, but I trust your opinion more than any of my investment brokers, bankers, and anybody else who wants to advise me and just manage my $$$ for their own gain.
So how far do I go down Panic Street?
I sold all my Mom's stocks already, fairly early on in the start of the plunge.
Luckily, we sold her house a year and a half ago.
The FDIC now backs most bank deposits up to $250,000. Do I have to worry about getting the money back in cheap freshly printed paper bills
worth very little?
Should I buy gold, platinum, Swiss Francs, or...., instead with it now?
We've still got a lot of TSAs, IRAs, etc., with the $$$ mostly tied up in Mutual Funds tied to the Stock Market. Should this be rolled over into something more stable, and, if so, what?
What will happen to all the folks like us vested in retirement systems that have trillions upon trillions invested in the Stock Market? Will they be able to meet their obligations, perhaps on a %age basis at least?
If I cash out into something really stable, selling the home and move overseas someplace cheap to live, do I take the C-Dory or sell it to the highest bidder?
Will the Republicans or Democrats be more likely to manage us through this recession/depression more quickly without just filling their own pockets as the primary goal?
Joe. :disgust
I know you don't have a crystal ball, but I trust your opinion more than any of my investment brokers, bankers, and anybody else who wants to advise me and just manage my $$$ for their own gain.
So how far do I go down Panic Street?
I sold all my Mom's stocks already, fairly early on in the start of the plunge.
Luckily, we sold her house a year and a half ago.
The FDIC now backs most bank deposits up to $250,000. Do I have to worry about getting the money back in cheap freshly printed paper bills
worth very little?
Should I buy gold, platinum, Swiss Francs, or...., instead with it now?
We've still got a lot of TSAs, IRAs, etc., with the $$$ mostly tied up in Mutual Funds tied to the Stock Market. Should this be rolled over into something more stable, and, if so, what?
What will happen to all the folks like us vested in retirement systems that have trillions upon trillions invested in the Stock Market? Will they be able to meet their obligations, perhaps on a %age basis at least?
If I cash out into something really stable, selling the home and move overseas someplace cheap to live, do I take the C-Dory or sell it to the highest bidder?
Will the Republicans or Democrats be more likely to manage us through this recession/depression more quickly without just filling their own pockets as the primary goal?
Joe. :disgust
Ron on Meander
New member
Joe,
Ron
Don't I wish that I'd bought US $ a few months ago. At the height of the bail out furor, the Canadian loonie was trading at 95 cents US. Today its down to 79 cents US. Gold a traditional safe haven during times of turmoil has dropped hugely from its peaks and is still dropping. The US $ is getting stronger even though, by some accounts, the US economy was among the first to enter a recessionary period along with the credit crisis. As of today the US $ is gaining dramatically against all major foreign currencies. You might want to reconsider your purchase of the "franc", at least at this time. It doesn't seem as if this downturn is following any of the "traditional" patterns. It seems as if we are in a very different time economically. I don't believe there are any safe havens in this storm. We'll all just have to batten down our own little ships as much as possible and try to weather this storm in the best way we can. I'm sure happy to have my C-dory and this group to help remind me, that even in the tough economic times there is a lot to be thankful for.
Ron