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NO, this country is getting better each day that passes..I believe that we have reached a turning point and that we should now have a more optimistic view point.
My Furniture store had is low point in October but sales are up in November and I think December and 2009 will see slow but steady improvments through out the economy!
I hope you're right, S6Sputnik, but Austin, TX was the #1 market for real estate appreciation last quarter and it has a healthy job market. It has little relevance to most other markets, which are experiencing continued downward pressure. I would expect that 2009 will show more downside, as the economy tries to find an equilibrium. I think 2009 will be recessionary. It will take a while for any economic stimulus to jumpstart a recovery, and I would guess that both consumers and investors will be cautious.
do you think the fundamentals have changed in this country and we are going downhill rapidly?
No, and no.
I think the Fundamentals have always been the Fundamentals.
They are, in brief:
Don't Lie, Don't Cheat, Don't Steal. Do not tolerate those who do. Avoid debt, live in surplus. Take care of the kids. Whole book on those and more called Proverbs. Nothing has changed on the Fundamentals in 3000 years.
The thing that makes it look like change is that much of US have been oblivious to these Fundamentals for the last 30 + years.
Overall, we are already way down the hill, but it is taking a while for the luggage, baggage and bills to catch up.
I am not overly optimistic, but I feel that there is only a slight upward trend. The negatives are HUGE and real, from the immediate situation we have with the financial sector and its broader impact on real estate and capital intensive industries to long term trends in failing urban education, lack of low skill jobs, illegal commerce in drugs, undocumented workers, dishonesty of all kinds.
That said, I think there are some positive signs -- pretty much every American feels kinda bad and pretty stupid that we use as much oil as we do. That ought to translate into a desire to INVEST in more efficient cars, homes, appliances -- same sort of thinking that helped cut back on pollution 20_ years ago. It takes a while to turn things, but they will turn.
There is shockingly little effort to root out government corruption / deception at every level. The press is weaker than it has been in the last 50+ years. People generally are NOT SMART either -- too many people have done DUMB things to their personal finance, and there is not effort to wise up.
The "bail outs" are needed, but without people understanding what role they had in fueling the stupidity we might be on a never ending treadmill of propping things up. That won't work.
If people's confidence in markets / systems is restored we have the ability to take the US to an even more exalted place of prominence /leadership in the global markets.
going downhill, but there are usually fits and starts when this happens to a country. Things may improve for a couple of years, then restart the downhill slide
Originally Posted by floridasandy do you think the fundamentals have changed in this country and we are going downhill rapidly?
Quote:
Originally Posted by Philip T
No, and no.
I think the Fundamentals have always been the Fundamentals.
They are, in brief:
Don't Lie, Don't Cheat, Don't Steal. Do not tolerate those who do. Avoid debt, live in surplus. Take care of the kids. Whole book on those and more called Proverbs. Nothing has changed on the Fundamentals in 3000 years.
The thing that makes it look like change is that much of US have been oblivious to these Fundamentals for the last 30 + years.
Overall, we are already way down the hill, but it is taking a while for the luggage, baggage and bills to catch up.
I really don't know. The economy historically as always gone in cycles and usually corrects itself in time. So, I believe in the best, but am prepared to deal with the worst.
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