Skid Row Joe
On the road in America
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Joined: 04/26/2006
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hobo wrote:In the Seattle Times today Warren Buffett says he thinks the U.S. economy is in a recession. And that the economy is getting worse.
We will see the big hit on the Washington coast by the end of summer.
Hobo This 'thing' has a lot more downside, according to some experts....you haven't seen anything yet in California real estate.......and June has two more trading days to go.......
Banks are locking-up-tight, even for their most credit-worthy customers with high credit scores. Don't even think about borrowing money, and some experts agree, pay-off your debt now is their best advice.
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NEW YORK (MarketWatch) --
U.S. stocks fell sharply Thursday with the blue-chip index enduring its worst June so far since 1930, and plunging to its lowest finish since Sept. 11, 2006, after getting slammed hard as crude soared to new highs and Goldman Sachs disparaged U.S. brokers and advised selling General Motors Corp.
"We're going to move in the opposite direction of oil, and General Motors is going to go out of business, at least according to Goldman Sachs," said Art Hogan, chief market strategist at Jefferies & Co.
The Dow Jones Industrial Average ($INDU) 11,453.42, -358.41, -3.0%) tumbled 358.41 points, or 3%, to 11,453.42, leaving it down nearly 1,200 points, or 9.4%, for the month, with two trading days yet to go.
As things stand, the month is the worst June so far since 1930 when the index declined 17.72%.
I have a sweet tender nature, however I enjoy sharing my thoughts and opinions. 
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lwmuddy
Murrells Inlet, SC
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Joined: 04/07/2002
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Buy cheap-Sell dear.
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RV-1/2n-FUN
FL.
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Joined: 03/30/2003
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Save as much as you can, the hurricane season is just starting and the Gulf is getting warm.
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Galvorien52
Stafford MO
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Joined: 02/06/2007
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Cloud Dancer, I'm curious as to what you've done to prepare. You seem to have anticipated this some time ago and moved to position yourself in regards to it.
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jello
GA
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Joined: 09/12/2006
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What banks are "locking-up-tight"? Just curious because I haven't seen/heard any around where I'm at. I can say that on Monday we were cut-back 6% with the company we contract with.
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Old School.
PA
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Joined: 05/30/2007
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I can't help but wonder if the economy is as bad many you state and we are truly in a recession/depression bound then why isn't there an inverted yield curve on interest rates?
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Skid Row Joe
On the road in America
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Joined: 04/26/2006
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This is a new global deal this time. Give it more time to develop.
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Sailbad
Oklahoma City
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Joined: 05/22/2003
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Skid Row Joe wrote:This is a new global deal this time. Give it more time to develop.
Joe is right on with this one. There's an awful lot of birds in the air. Time to hold tight.
When Buffett talks, I like to listen. Especially when Mr. Pickins seems to think along the same lines.
Dave C.
2005 Silverado 2500 CC
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03Ultra
Central Massachusetts
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So, now we are three months down the line and the guys who said I was nuts for saying we were in the recession are now crowing about how they will ride out the recession (that they said we were not in and would not happen).
Old posts never go too far, they can be pulled up by a search any time.
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Jumbo Cranium
Texas where else
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Joined: 02/04/2005
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Well Warren has said it more than once and he has been wrong each time. Just because HE says there is a recession does not change the fact that the economy has not retracted for even one quarter yet, much less the two that define a recession.
Lots of money out there still to be lent. I just refinanced my RV due to my divorce last year, ex wanted her name off the note. No problem at all. Also not having any trouble at all getting an interim loan to build a new house and I don't anticpate any trouble at all getting a mortgage, have already looked into it and looks like smooth sailing.
Roger
Shelley, my sweet baby.
2006 3/4 ton Dodge QC CUMMINS 6 speed manual
2005 24' Trail Cruiser 5er
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