I do remember the 70's, but the current situation is worse and getting more worse. We haven't reached the bottom yet!
The bottom will be 5600, give or take a few hundred, in the DOW. I read were one economist stated he thought that threre would be 1000+/- points drop Thursday and Friday. That would put us at 6600.
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Psa 119:165 (KJV) 165 Great peace have they which love thy law: and nothing shall offend them.
"Do not believe everthing you read on the internet" - Abe Lincoln
What are interest rates supposed to do in the near future? Right now I have a HELOC that I'm using to pay for the home we own in Nashville, and my interest rate on it is 2.25%!!!! My home mortgage is at 5%, I think, but it's locked in.
I think the consensus is that they will remain low for the near term. I would lock any mortgage I have into a fixed rate while they are low. A week or two ago I was quoted 5.5% on a refinance with no points.
__________________ "I think some people love spiritual bondage just the way some people love physical bondage. It makes them feel secure. In the end though it is not healthy for the one who is lost over it or the one who is lives under the oppression even if by their own choice"
Titus2woman on AFF
"We did not wear uniforms. The lady workers dressed in the current fashions of the day, ...silks...satins...jewels or whatever they happened to possess. They were very smartly turned out, so that they made an impressive appearance on the streets where a large part of our work was conducted in the early years.
"It was not until long after, when former Holiness preachers had become part of us, that strict plainness of dress began to be taught.
"Although Entire Sanctification was preached at the beginning of the Movement, it was from a Wesleyan viewpoint, and had in it very little of the later Holiness Movement characteristics. Nothing was ever said about apparel, for everyone was so taken up with the Lord that mode of dress seemingly never occurred to any of us."
Quote from Ethel Goss (widow of 1st UPC Gen Supt. Howard Goss) book "The Winds of God"
The bottom will be 5600, give or take a few hundred, in the DOW. I read were one economist stated he thought that threre would be 1000+/- points drop Thursday and Friday. That would put us at 6600.
Every time Obama speaks the stocks drop. The business men have let everyone know they have no confidence in him and congress pulling us out of this mess.
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Happy moments, PRAISE GOD.
Difficult moments, SEEK GOD.
Quiet moments, WORSHIP GOD.
Painful moments, TRUST GOD.
Every moment, THANK GOD.
www.nytimes.com/2008/12/02/business/economy/02econ.html?fta=y
WASHINGTON — The United States economy officially sank into a recession last December, which means that the downturn is already longer than the average for all recessions since World War II, according to the committee of economists responsible for dating the nation’s business cycles.
Richard Drew/Associated Press
In declaring that the economy has been in a downturn for almost 12 months, the National Bureau of Economic Research confirmed what many Americans had already been feeling in their bones.
But private forecasters warned that this downturn was likely to set a new postwar record for length and likely to be more painful than any recession since 1980 and 1981.
“We will rewrite the record book on length for this recession,” said Allen Sinai, president of Decision Economics in Lexington, Mass.
I think the consensus is that they will remain low for the near term. I would lock any mortgage I have into a fixed rate while they are low. A week or two ago I was quoted 5.5% on a refinance with no points.
I really would like to sell the townhome in N'ville. We bought it as an investment when Ashley lived there and we didn't want her to live in a dump. Then she left Nashville and we were stuck with a townhome in a very bad selling market. So.....it's rented right now, but the HELOC can't be locked in - it's just one below prime all the time. Whenever the real estate market rebounds, I would love to be free of it, even though right now it's making money.
The bottom will be 5600, give or take a few hundred, in the DOW. I read were one economist stated he thought that threre would be 1000+/- points drop Thursday and Friday. That would put us at 6600.
I think 6000 is the bottom, but I could be off a bit.
It was at 7500 yesterday, which is an unbelievable number when we consider we were around 11500 to 12000 when this started.
It's getting close to losing about half of it's total value.
www.nytimes.com/2008/12/02/business/economy/02econ.html?fta=y
WASHINGTON — The United States economy officially sank into a recession last December, which means that the downturn is already longer than the average for all recessions since World War II, according to the committee of economists responsible for dating the nation’s business cycles.
Richard Drew/Associated Press
In declaring that the economy has been in a downturn for almost 12 months, the National Bureau of Economic Research confirmed what many Americans had already been feeling in their bones.
But private forecasters warned that this downturn was likely to set a new postwar record for length and likely to be more painful than any recession since 1980 and 1981.
“We will rewrite the record book on length for this recession,” said Allen Sinai, president of Decision Economics in Lexington, Mass.
and that is about what I am saying. Bad yes. mother of all depressions? no.
__________________ If I do something stupid blame the Lortab!
Linear Mode
