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Re: The Slowdown.....is it here ?
Posted: Fri May 02, 2008 12:56 am
by atomic_punk
Sorry about the snow today Jeff, but enjoying a 70 degree day here in the D and an 8-2 Red Wing victory....and a sweep to boot
Re: The Slowdown.....is it here ?
Posted: Fri May 02, 2008 2:19 am
by antipodean
VRICKY63 wrote:What slowdown ?
We are in a multi-tier economy, with areas like infrastructure trying to catch up to the last boom, whilst other areas like housing are in slowdown mode.
The big issue behind the slowdown is that a lot of the previous growth was financed by debt - so to an extent higher house prices and higher share prices were built on a shaky foundation, and the risk/reward incentives became skewed. With the credit crunch there will be a period of adjustment (and a slowdown). The same thing happened to Japan in the '90s (when central Tokyo real estate was valued higher than the entire continental USA and the Nikkei index was three times its current level). It only took 10 to 15 years or so to get back on an even keel. IMO the US is a lot more flexible than Japan so the bounceback will be far more rapid.
Re: The Slowdown.....is it here ?
Posted: Fri May 02, 2008 3:10 am
by aceonbass
I hope realestate prices drop through the basement. The only reason prices got where they did is banks willing to finance people for houses they couldn'd afford just so they could reap the interest(normally 200-300% over the life of the loan). Selling these sub-prime mortgages as bonds which investors in other countries bought made it a world wide financial crisis. As Mike Brady once said "caveat emptor", and I could't agree more.
Re: The Slowdown.....is it here ?
Posted: Fri May 02, 2008 11:14 am
by rickaddict
aceonbass wrote: As Mike Brady once said...
Re: The Slowdown.....is it here ?
Posted: Sat May 03, 2008 2:24 am
by vincent_gallo
slowdown schmoedown I will speed things up and pay top dollar for any original 1958-1969 Rickenbacker 4000/4001/1999's
[email protected]
Re: The Slowdown.....is it here ?
Posted: Sat May 03, 2008 7:09 am
by wints
vincent_gallo wrote:slowdown schmoedown I will speed things up and pay top dollar for any original 1958-1969 Rickenbacker 4000/4001/1999's
[email protected]
Nice one Vincent!
Re: The Slowdown.....is it here ?
Posted: Sat May 03, 2008 11:50 am
by qwezirider
atomic_punk wrote:... enjoying a 70 degree day here in the D and an
8-2 Red Wing victory....and a sweep to boot
Bah humbug.
Re: The Slowdown.....is it here ?
Posted: Mon May 05, 2008 12:50 am
by rictified
nukebass wrote:The wealthiest 1% of Americans (I think the cutoff there is around $200k/year) pay 30% of the income taxes. That is not "fair," especially since they see no benefit. Everytime tax rates have been cut, revenue increases. It happened in the 60s (the largest post war economic growth), the 80s, and the 2000s. All of these tax cuts were "across the board" cuts, meaning everyone paying taxes got a lower rate, but people still like to categorize them as tax cuts for the wealthy. You have to pay taxes to get a reduction and it stands to reason that the wealthiest will see the largest percentage drop. The economy from 2003 to 2006, using the same numbers that people touted in the 90s (unemployment and growth rates) was the best economy since the 80s.
The problem has been spending, not tax cuts. The department of education, as an example, has doubled in cost since 2000 and I'm pretty confident in saying that the increased federal spending hasn't helped to improve education.
So you think it's fair that a millionaire pays 300,000 in taxes and someone making 200,000 a year pays 60,000? You think perhaps the millionaire is perhaps just a little better off with his 700,000 than the guy who makes 200,000 is with his 140,00?
What about someone who makes 10,000.00, should they pay 3000.00?
Re: The Slowdown.....is it here ?
Posted: Mon May 05, 2008 9:36 am
by jwr2
atomic_punk wrote:Sorry about the snow today Jeff, but enjoying a 70 degree day here in the D and an 8-2 Red Wing victory....and a sweep to boot
Denver is an interesting climate ... we get up to 80 then it snows then we get up to 77 ... Once the sun goes down the temperature drops about 30 degrees ... this is really nice in the summer because almost every evening I can open my windows to let in fresh air ... and I love seeing the mountains every day. This is a good climate for my Mustang convertable. I hope there are no riots at the Dems convention this summer.
as per the hockey game I was kinda rooting for both teams ... but the Avs had no chance. But they showed a lot of class when the score was 8-2 and they didn't go out and start a lot of fights or commit a lot of penalties.
Re: The Slowdown.....is it here ?
Posted: Mon May 05, 2008 9:40 am
by jwr2
aceonbass wrote:I hope realestate prices drop through the basement. The only reason prices got where they did is banks willing to finance people for houses they couldn'd afford just so they could reap the interest(normally 200-300% over the life of the loan). Selling these sub-prime mortgages as bonds which investors in other countries bought made it a world wide financial crisis. As Mike Brady once said "caveat emptor", and I could't agree more.
If the prices drop through the basement then a lot of people will get hurt. I'd rather see a moderate decline so the next generation can afford a house.
Re: The Slowdown.....is it here ?
Posted: Mon May 05, 2008 11:19 am
by admin
While there can be no doubt but that the market value of Rickenbacker guitars is inherently tied to the economy I would ask that we make a deliberate attempt here to steer clear of "comments political."
I would argue that our discussions here, albeit inadvertently, are on the slippery slope of "running for office" at times. It is a fascinating and tempting study but I do not want to have to edit out otherwise legitimate and interesting posts about Rickenbackers.
Re: The Slowdown.....is it here ?
Posted: Mon May 05, 2008 9:17 pm
by wints
Back to the topic in question:
Well, this didn't seem too bad, if a genuine sale.
http://cgi.ebay.com/vintage-1973-ricken ... RCH:US:101
Re: The Slowdown.....is it here ?
Posted: Mon May 05, 2008 10:18 pm
by aceonbass
The only reason I'm actually able to afford any Rickenbackers at all, especially six of 'em, is because I don't own a house. The median price of a house in LA county is over $350,000.00. I can't afford that now, or ever. Most people out here can't anymore. There needs to be more than a little drop for the next generation to be able to buy a house, at least here. If people took out massive mortgages on the overinflated value of there homes, finding themselves upside down in them or with baloon payments that they couldn't afford, they got what they deserved. Now the there's talk of the feds bailing some of these people out on my dime. Okay, ECONOMICS rant over.
Re: The Slowdown.....is it here ?
Posted: Mon May 05, 2008 11:00 pm
by jwr2
That is why I left California back in 1989, houses cost way too much for me as a young architectural school graduate. Housing is over-priced in much of the country but it is obscene in California. It will have to come down and some people will get hurt.
I recently sold a house and I had to bring $20k to the table to sell it.
Re: The Slowdown.....is it here ?
Posted: Mon May 05, 2008 11:35 pm
by jwr2
I am glad we could get a little political and express different opinions without getting mean or insulting. And I applaud the judgement of our moderator to not not just dump this thread even though we broke the rules slightly.
And for those of you in California who can't afford a house ... I feel your pain ...
And for those of you who can't afford a Rickenbacker I am sorry ...