Economy

[G-MONEY]

IMO, Greenspan start this during Clinton's era.

Then the chit hit the fan when "we" elected a dominate democratic house 2 years ago. You wanted change then and boy did we get it

Aside from turning this into a political mess again. Look on the bright side, the cost of living is going to come down so now you don't need as much money to live the same life.

[NICKYPOO]

I'm sticking with my paid for out of warranty 10 year old Tige

X2!

[Domsz06]

Then the chit hit the fan when "we" elected a dominate democratic house 2 years ago. You wanted change then and boy did we get it

Aside from turning this into a political mess again. Look on the bright side, the cost of living is going to come down so now you don't need as much money to live the same life.

yeah but the cost of living going down doesn't help when your jobless!!

[G-MONEY]

yeah but the cost of living going down doesn't help when your jobless!!

True.....

Just trying to look on the bright side.

[da.bell]

Then the chit hit the fan when "we" elected a dominate democratic house 2 years ago. You wanted change then and boy did we get it

Aside from turning this into a political mess again. Look on the bright side, the cost of living is going to come down so now you don't need as much money to live the same life.

yeah but the cost of living going down doesn't help when your jobless!!

O when you purchased it at it's peak.

[Domsz06]

O when you purchased it at it's peak.

I bought on the downward slide, just too bad I bought at the top of the downward slide and how far it will go, no one knows.

[jwanck11]

The thing I don't get is this:

Companies want to/need to scrape and claw to exist at this point. They need to look profitable as is possible and amongst other things put most cards into cutting heads to do so (people are expensive and overall viewed rightfully so as long term liabilities).

People cut, all ready leveraged with high debt load, cannot make obligations nor can they spend. This has 2 major (and many lesser) effects:

1) bad paper
2) direct impact on the C element of GDP

So, arguably, I question how there can be a turn around when the American consumer cannot spend nor meet their debt obligations? I question how laying off a debt-burdened population is rooted in a recovery strategy.

Note I did not mention, but it ought to be considered:

This is a global economy ie. a cut of american consumption impacts global labor
International outsourcing sends internal wealth across borders
International outsourcing takes skills across borders.
etc. etc. etc.

I just do not understand how this can turn around by companies no longer paying the average American worker...

Boats... with the likelihood of what is coming, boat companies are going to be in for serious rough times for quite a long time almost without doubt.

Oh.............. This had nothing to do with Bush.

[jwanck11]

We're going to keep our boat all things considered unless we no longer can.

We are invested to the hilt and have only lost 7% which I claim is nearly a miracle (almost all of it on Sirius which I still have ). There are plenty of excellent bets right now.

[talltigeguy]

Let's put the economy problems in perspective on a personal level. I am heavily invested in the stock market. My investments have lost enough money in the last few months to purchase 5 brand new RZ4s. I was planning on using that money to retire, comfortably. Now it appears that I will have to continue working much longer than anticipated.

GWB is an idiot, a moron, a mental midget, misquided by a staff of fools and a corrupt VP. GWB has driven this country into the ground and needs to be eliminated ASAP. Don't wait until January 8, 09. Ticked off? You bet!!

I do not know who is to blame, but there is plenty to go around. Whoever twisted the financial side of things to loan money to people for homes they could not afford thinking that they can refinance every 3 years for the rest of their lives, and never have to pay the piper is the first who needs to take a beating. Most serious people feel the home market is the first root of all of the problems. The Democrats were the ones pushing for everyone to own a home...even if you don't make enough to afford it.

Sparky hit the nail on the head. If he wants to get into a new boat, the deals are good, but he will take a serious (read with a lisp: 'Theriouth') beating on the trade in or sale of his 2007 model. That is sort of where I am caught right now. I have found a boatload of deals on 1-2 year old boats that were unheard of 1 year ago. One lady got her new MC X-45 18 months ago and is trying to sell now. I asked her for what options are on the boat and she faxed me the purchase agreement...I about crapped when I saw that she paid 88K for it! Now she has been sitting on it for 3 months with a list price of 60K. Now I ask myself if a new RZ2 is better than that? NADA resale values would suggest I would go better with a boat like the MC. I don't want to start a 'MC this, or Tige that' kind of thread, because the main point I am making here is the slightly used market is pretty enticing right now. Even the guys who have leftover 07's are having a hard time competing with that. The market is just so limited in buyers right now that a dealer cannot sell the boat for what he has in it. A private guy usually has some equity and can undercut the dealer...On the other hand, I have also seen private guys who still owe more on their 07's and the dealer is selling 07's that are brand new for less. It cracks me up to see some poor sucker trying to sell his X-45 for 75K that he still owes, when there are others for sale for so much less. It just won't move. Something has to break.

Sorry for the long rant.

[Carter13]

Tall,

I definately would look for the best deal you can get for the best brand whether it is new or used. It is your hard earned money that is purchasing the boat and you should buy whatever is going to work best for you and your family.
There are some smoking deals out there on slightly used boats right now.
The boneheads here will support your decision no matter what it is my brotha.

[sparky216]

GWB is an idiot, a moron, a mental midget, misquided by a staff of fools and a corrupt VP. GWB has driven this country into the ground and needs to be eliminated ASAP. Don't wait until January 8, 09. Ticked off? You bet!!

I agree, but your giving him way too much credit. Let's look at the Fed and corrupt lending institutions and a "me first" society. Or how about this, why are you not more diversified, if your losing over 300k in the market then it boils down to 2 issues.
1. your freaking rich
2. you are very exposed

To have such a large percentage exposed to stock is your fault, not GWB. BTW, were you giving him the same "praise" when your portfolio went through the roof over the last 5 years? This is market correction......we are about where we need to be.

Government is going to "bail" out everyone, but frankly it wont work. Giving low interest loans for the automobile industry makes sense as long as they go through bankrupcy and get rid of the union benefits that have hampered them for years. We cannot compete with the world because someone who puts a windshield in a Chevy Malibu makes $45 an hour! Insane!!

OBAMA!

[sparky216]

This table charts the key U.S. financial indices by their last reported value and change since the most recent trading day opened. Index Last Change
Dow 8,046.42 +494.13 (+6.54%)
NASDAQ 1,384.35 +68.23 (+5.18%)
S&P 800.03 +47.59 (+6.32%)

[Domsz06]

Well said Tall, Sparky, and piggy!!!!!

[MoneyPity]

November Layoffs.

da.bell mentioned that Tige had a second round of layoffs. Although small another 25 families in the community/industry most of you care about has been affected.

Because according to many of you I am so disturbed etc that you will say I posted this to get attention. Damn right I did. According to this link earlier this month these people were affected.

http://bigcountryhomepage.com/content/fulltext/?cid=63871

According to the short article part of the reason for slow sales is the credit crunch.

"Davis says it is true that less people are purchasing boats these days, but a bigger problem is the credit crunch. While other local boat companies have not made layoffs, they say the struggle for people to get loans has also affected their sales."

Tige seems to be a fiscally responsible company trying to do what it takes to sell boats in a terrible economy. As much as we don't want to see it Tige will be hit a bunch more until the global economy recovers. The economy being in the dumper is not just a problem in the US but is one that is global.

The big three US car makers are in the dumper again. Ignoring the idiot who had to spend significant dollars to go to DC the US car market is like a lot of our businesses and are being choked by practices that are not practical in this century. Although I am a firm believer in employee rights I think unions are killing big business with the high salaries they demand as well as the
unbelievable medical and pension benefits they get compared to the average employee.

To turn some of economy woes around, the American Union worker may need to look at do they want to work for fair and reasonable wages and benefits or let a significant part of the hurting economy go overseas also and causing even bigger problems in industries that are supported by the big three. Small companies like flex steel who make the metal pars of auto seat can't survive if the auto industry continues to slow down.

Think of all the businesses that support the housing industry!! The housing disaster spills in many other industries from logging to cabinetry, electrical supplies etc...They are also getting hurt bad by the economic crunch.

On a side note the ports where import cars are staged before they are shipped by rail to other distribution points are also not moving cars. The economies of many nations are tied to our economy and if I remember correctly
it has been a long time since Japan was in this deep a recession and they won't get out of theirs anytime soon either.

Hey but I am just bitching to bitch. If that floats your boat then your welcome.

[dogbert]

You gotta watch this:



Makes me wonder if the run up in oil/gas was entirely driven by speculation.