Uh Oh!

Larry H":131hpe33 said:
I plan on using mine to reimburse myself for some of my 2007 taxes!! :wink

Don't hold yer breath. CNN.com is reporting an economic stimulus package agreement is nearing completion. According to its sources, individuals will get a check for $600 and couples will receive $1200. Parents may receive $300 more for each child. Democrats and Republicans have agreed to give rebates to people who don't pay income taxes but do pay Social Security tax.

I wonder if that extends to self employment tax?

Time to look at Wally World and dollar store stocks.... :sad
 
Well I guess that clears about any confusion about 7 years of republican policies. Wonder what the excuses for these utter failures will be or who they will blame?

regards
ryder
 
C-Otter":2w0u8t53 said:
Typical KNEE-JERK REACTION by politicians of either party.

The idea is to buy less gas not more. :roll: C-Otter.

Well, we can all pat ourselves on the back for being ahead of the times -- we bought a C-Dory!

On a serious note -- I already see a lot less boats out than I used to.

I love my C-Dory . . .
 
Thought it would be interesting to bring this discussion back onto the pub's table - a good historical look at what we were all thinking just last January. Now, in October, we have another perspective of the economy and the stockmarket's reaction to the slide into recession and the credit mess.

El and I had the 'advantage' of being in isolated areas most of the summer and seeing no TV, hearing no radio news (other than NOAA weather reports), reading no newspapers, having no connection to the Internet ... what a delight!

And, now, reading through this old thread from January and also hearing the news daily, we have a different opinion on how this 'crisis' might affect us - what about the rest of you?
 
The National Debt Clock in NY is about to run out of digits to display the true figure. That can only be blamed on shortsightedness of the designers when it was built. Unless you want to blame it on one or the other political party.
 
Sneaks":1hhal6sh said:
Stagflation

We lived through it but it wasn't fun and it put a lot of people out of work. Yep, the judgemental among us will point fingers and wag tongues, but it doesn't change the facts and since it's been proven time and time again that we don't really learn from history's mistakes, I expect a wild and not so enjoyable time ahead. Hopefully brief, but bloody nevertheless....

Don

No change in my earlier opinion. Oh our house has "lost" $200k in the past couple of years, but our roof is solid, doesn't leak and with a pittance for property taxes due to Prop 13, we'll sail through it just like we did the last time.

The only affect is that I now haunt Craigs list for almost anything we feel like buying. Some awesome bargains as folks liquidate former discretionary purchases in favor of paying down credit and/or mortgages.

Don
 
Having just bought a C Dory boat I am hoping for the best. From the beginning of time people "mankind" has had a facination for the water. There will be boating....
I think it best not to look at the news they never tell us the good things. It's like they feed on bad bad bad. However, it is like I'm addicted to checking in on the news every so often. I try not to let it get to me.
because I know that the truth of the matter is that there is also good new too that they can't make any money on. So they don't report the good news.
IMHO
Serenity
 
Bob,
Not only do you know boats but you do quite well with economics also.
I enjoy each post you contribute. I am sure most all who follow this site will agree.

Bob Austin's post, Jaunary 22 2008....
thataway":3ezlaohg said:
I see the problem as too loose credit and too much debt in the United States. We have had this housing bubble--and a credit bubble. People have often borrowed based on what their precieved assets were. I worry more about the current generation who are in their 30's. They may not have social security or even pensions which were available to the older generation currently. They don't seem to be saving adequately.

Yes, if you can lock in some investments at a little over 5% that sounds like a very wise move currently...........
The folks who have over extended their credit will have a very tough time.

Thanks,
Gary king
 
Yep, Bob was spot on. Anyone have thoughts of where to invest any savings at this stage of the game? We invested some of ours in our last three months of summer cruising -- memories are priceless.
 
Yes, Bob was spot on in Jan '08, but so was every real estate editorial I read from 2005 on. The writing was on the wall and we were warned years before this happened, and not just in the newspapers but by certain individuals in Congress as well but no one listened.
 
Hi Bill.... You're right, of course, relative to the economy.... However, I've just said to hell with it and cashed out a 6% CD to buy my 26th boat.... A '91 C-Dory 22, "C-Nile" from Bob Wise in PA and (fmrly) Carolinas.... It's being 'shipped up' on Tuesday but just today had my first trip aboard one courtesy of one of the C-Brat members, Dave Seaton of South Gouldsboro, down here on the Eastern Maine coast..... Really enjoyed it and am looking forward to many, many hours aboard this fall 'till snow flies and next season....! At 67 I'm like a young kid, knowing that I'm going to love this little boat....!

In any event, have just joined this site a couple of days ago and clicked on it now as I continued to 'build' my mental list of things to do and add to the boat this winter..... Saw your post and it reminded me of 'feelings' I'd had early this week relative to curtailing "discretionary spending...". The hell with it. The economy will come back (after the election)....

"Invest in the future and have fun while doing it...! Buy a C-Dory." Avoid a repeat of '29 by spending 'earned dollars' back into the economy... ???

Looking forward to participating in this forum in a few weeks when the snow starts to fly and I have to lay my new friend up for the winter....

Best regards—and don't let the economic gloom dim your memories of those camels in your pics....! I'm thinking now of our Panama Canal passage last winter. My next planed cruise now is Moosehead Lake on my C-Dory next spring right after "ice out."

Wes Shaw
 
Wes I hadn't thought of this until reading your post. When I bought my 22 I had the option of cashing in CD's or taking the money from my retirement account. Looking back on it I would have been money ahead to buy the boat from my retirement account in a year it depreciated more than the boat did! Who would have every thought buying a boat would be a better investment than saving money!
 
It seems so point to a depression. The plus side is prices of fuel are falling I bought gas yesterday in New Jersey for 2.99. Diesel and heating oil are way down. The problem is with less demand falling prices are not too comforting as more businesses will fail more people will lose their jobs and inflation will start to run rampant. The days of robbing Peter to pay Paul are catching up with the politicians and us. Usually these sort of things are followed by large wars. It was said the big bail out bill that was just pasted will only work if the housing market rebounds. I think that will be unlikely as record unemployment shows all the signs of becoming worse. Who will be buying houses? On the bright side there is strength in numbers. Fortunately the baby boomers will carry the portion of the toy industry that has a practical side of which C-Dory is one. C-BRATS sticking together will be less likely to get robbed as they hang in a group. Better plant a big garden and start canning again. Those fishing rods and guns won't be just for fun any more. I hope none of this comes true but the signs are not good.
D.D.
 
Hi Marvin... You make a good point. I had considered taking the money out of one of my Fidelity retirement accounts but that became a joke these last few months....! I really squeaked a good deal when I cashed out a 4.6% CD to buy the C-Dory but mentally, at least at the moment, the 'joy' of the boat purchase overshadows (pun intended) the gloom of the markets... ( : >) Wes
 
SET RANT ON

You know what? Much of this "Gloom and Doom" stuff just doesn't pass my personal sanity checks. How can anyone believe the national media now that it's almost universally evolved into a latter day "National Enquirer"? The working premise? Sensationalize.

It doesn't take a rocket scientist to figure out that if Joe NewBuyer lost his house last year and this year Joe's cousin and a neighbor lost theirs that three houses became bank owned. Newspapers, however, would read "100% increase in foreclosure rate just since last year...."

Blaring headlines: Unemployment the worse ever since the "Great Depression". Maybe so, but here's a few facts easily verified:

94% of the US working population IS WORKING. During the Depression only 75% of the US working population had jobs.

Bogus comparison designed to sensationalize.

Blaring headlines: Foreclosures up 126% this year blah blah blah.

Facts: Only 6% of US homes are now bank owned, and less than 2% higher than 10 years ago.

THERE ARE NO RELIABLE FIGURES FOR BANK OWNED PROPERTIES DURING THE GREAT DEPRESSION. On top of that, from talking with that generation, it may very well be that a large number of homes were owner financed in those days and simply went back to the previous owner, not the banks, so any figures are unreliable at best.

During the "Great Depression" deflation occurred. Prices dropped an average of 40% overall.

Are we going through a deflationary period today? I don't think so, Bubba.

What's the real truth? The bailout passed and this morning the market is down (lemme see) 300 points as of 7am. Groceries cost more than last year. Energy costs are well above two years ago. Foreclosures? Around greater San Diego there are large numbers of vacant NEWER homes down in South Bay, now bank owned. In California, the overwhelming bulk of bank owned homes are homes that didn't exist three or four years ago. Our subdivision? Approximately 220 homes. Only one went into foreclosure, two sold well below 2004 purchase price and three are currently on the market. Yah, the prices dropped but they were wildly inflated two years ago. My gut sez the mortgages in this subdivision are being paid - on time.

I have yet to speak to a neighbor, friend, acquaintance or anyone on the street who were FOR the bailout. Rumor has it that our senators and representatives were inundated with emails and letters telling them their constituents overwhelmingly opposed the bailout.

Nevertheless, it passed.

Seems to me that "We the People" are no longer represented in Washington DC, but who am I to judge?

SET RANT OFF

Time to go take my GF boating.

Don
 
DOES THE NUMBER 545 MEAN ANYTHING IN AMERICA? Doe it have anything to do with us C-Brats and our boats? Maybe, maybe not, but, it just kinda made me go hummmmmm..... Just a simple kind of man here.

Reguards and Enjoy the read....
Byrdman

545 PEOPLE : Read This by Charlie Reese…
Politicians are the only people in the world who create problems and then campaign against them.

Have you ever wondered why, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?

Have you ever wondered why, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?

You and I don't propose a federal budget. The president does.

You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.

You and I don't write the tax code, Congress does.

You and I don't set fiscal policy, Congress does.

You and I don't control monetary policy, the Federal Reserve Bank does.

One hundred senators, 435 congressmen, one president, and nine Supreme Court justices 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country.

I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.

I excluded all the special interests and lobbyists for a sound reason. They have no legal authority. They have no ability to coerce a senator, a congressman, or a president to do one cotton-picking thing. I don't care if they offer a politician $1 million dollars in cash. The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator's responsibility to determine how he votes.

Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.

What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. The president can only propose a budget. He cannot force the Congress to accept it.

The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House? She is the leader of the majority party. She and fellow House members, not the president, can approve any budget they want. If the president vetoes it, they can pass it over his veto if they agree to.

It seems inconceivable to me that a nation of 300 million can not replace 545 people who stand convicted -- by present facts -- of incompetence and irresponsibility. I can't think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist.

If the tax code is unfair, it's because they want it unfair.

If the budget is in the red, it's because they want it in the red.

If they do not receive social security but are on an elite retirement plan not available to the people, it's because they want it that way.
There are no insoluble government problems.

Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like 'the economy,' 'inflation,' or 'politics' that prevent them from doing what they take an oath to do.

Those 545 people, and they alone, are responsible.

They, and they alone, have the power.

They, and they alone, should be held accountable by the people who are their bosses
provided the voters have the gumption to manage their own employees.

We should vote all of them out of office and clean up their mess!
Charlie Reese is a former columnist of the Orlando Sentinel Newspaper.
 
If they didn't want the rescue politicized, maybe they shouldn't have given it to 535 politicians.......


Seriously, nowadays we rarely pay the asking price for anything over $100. I just make an offer at the cash register and ask to speak to the manager. I have hardly ever been refused a discount. Just ask them if they would like to make a little money today or no money. They are free to say no, but usually don't. At bare minimum we get the sales tax paid. The best discounts are at appliance, electronics, clothing and furniture stores. BTW this worked at Macy's and Nordies! I also got a plumber to lower his rates too, just told him there were lots of other guys in the phonebook.

This is the free market in action and this time it is on our side!! Everyone is hurting these days and are desperate for cashflow. Do I feel bad for taking advantage? Well, did they feel bad for gouging me for all those years during the boomtimes? I think not! What goes around comes around and today cash is king.

I am going to try this at the supermarket sometime too. Give it a try, they can only say no....
 
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