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Old 10-31-2011, 09:59 PM   #1
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Default In this economy...

I hear this all the time. Seriously though, are things really that bad? I know we owe so much money to the national deficit, but that's because these government jackasses can't figure out how to budget the money we give them.
"In this economy"...
Every casino I walk into is packed.
The streets of Vegas are packed.
People are buying brand new cars all day long.
I was at a seminar today about timeshares. People are investing money in timeshares, "in this economy".
I'm going to the SEMA show tomorrow, I'm dying to see how bad things really are as far as prices on the latest greatest pieces of automotive ingenuity.

I know these are strange times.
The company I work for manufactures batteries for automotive/ industrial/ whatever you can imagine. Lead prices are at record highs. The market has been so competitive, we used to make dollars on batteries, now we make cents. We're still hiring though.

It's just funny to me, cause this "salesman/ actor" as I'm going to refer to him, tried to sell me a timeshare today. I bet he makes as much money as I do in a year. Is there really a difference between me and him? I'm trying to figure it out. He doesn't wrench on equipment that makes product, but he convinces tourists to invest their money in a timeshare. Same difference.
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Old 10-31-2011, 10:09 PM   #2
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Just because people are spending money, doesn't mean they have it.

Its one thing to own a car outright. Its another thing to make a payment.

The economy is bad, but that wont stop the spenders from spending. Which is good, cause then it keep us workers working.
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Old 10-31-2011, 10:10 PM   #3
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No ****, people say the Economy is bad because they can't all go buy a new beamer or caddy, or whatever the status symbol is, and have a 4000sqft house. (Sorry, that is big to me, we just upgraded to 2000). Some aspects are down. I bet alcohol sales aren't. I think people just feel more and more sorry for themselves because they didn't go to college and wonder why they don't make 6 digits a year. Here, all the restaurants still have a huge wait on the weekends, and people that live on government assistance still get $2k 40 inch wheels on their buy here pay here 89 cutlass. Thank god for guys that finance wheels. That keeps my friendies back home in business. Whatever.
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Old 10-31-2011, 10:27 PM   #4
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in this economy, some used car prices are making new car prices attractive.

Example: if you go to cars.com and look up used 2010 Prius pricing, it's almost exactly 1000 dollars less than the 2011 of the same trim level.
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Old 10-31-2011, 10:31 PM   #5
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I like this thread. Cause I think this every day. "In this economy"

6th street Austin was packed on saturday night
starbucks had a line around the block
90% of the cars I saw in Austin were 2006 or newer
everyday in San Angelo I see so many cars with 20"+ Rimzzz
beat to **** civics with turbo kits

We need to STOP the government from giving our hard earned money to these **** heads that buy stuff they WANT and cannot afford.
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Old 10-31-2011, 10:37 PM   #6
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Its one thing to own a car outright. Its another thing to make a payment.

The economy is bad, but that wont stop the spenders from spending. Which is good, cause then it keep us workers working.
This is true. Making payments, means paying interest. I hate payments. I found my wife her '07 Mazda CX-7 about 1 year ago, paid 14k for it...financed it. We owe about 10k on it yet, but it beats paying over 20k for one new (in my eyes).

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in this economy, some used car prices are making new car prices attractive.
This is also true, but again I choose to live my life differently. I have a 2000 Chevy Silverado. My wife insists that I trade it in for an extended cab for when we decide to have children. I am looking towards a 2003 GMC Sierra. No need to spend $30k on a new truck when I can find a $12000 unit and trade my truck in and pay the rest with cash. I can also swap my air box, my tarp, and spend another $200 for a 2" leveling kit to fit my 17" wheels with my 33" Mud Terrain's. That's just how I do things though.
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Old 10-31-2011, 10:59 PM   #7
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to be fair, money is pretty cheap to borrow right now. no way I'd pay off my house early at 4.something percent interest.
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Old 10-31-2011, 11:01 PM   #8
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to be fair, money is pretty cheap to borrow right now. no way I'd pay off my house early at 4.something percent interest.
Try 3.75. That's the last offer I got quoted.
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Old 10-31-2011, 11:03 PM   #9
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The key is Two Incomes, No Kids.
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Old 10-31-2011, 11:29 PM   #10
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(Posting from my phone.)

Well...I know who's employed in this thread.
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Old 10-31-2011, 11:31 PM   #11
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The streets have always been good to me.
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Old 11-01-2011, 12:22 PM   #12
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Try 3.75. That's the last offer I got quoted.
I didn't want to refinance twice in one year.
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Old 11-01-2011, 01:08 PM   #13
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I didn't want to refinance twice in one year.
I hear that. A lot of people refinanced when the interest rates went to around 4.375%. Nobody thought they would continue to go down to where they are today.
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Old 11-01-2011, 01:12 PM   #14
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We're not in a recession, we're outliving the "credit bubble". If you were dumb enough to get an ARM or finance a bunch of **** that took a more of your income than it should, you have a problem. I know there are other, more complex issues with foreign investment and regulation changes, but I don't understand them. I know I'm paying more for things like apartment rent, student loan rates went up, and groceries are going up, but I don't know more more than that other than what my economist GF feeds me.

I often wonder how many of these people "can't make ends meet" own a $40k note on a vehicle or an obscenely expensive mortgage. I've done a pretty good job of living well off my income because my vehicle expenses are low.
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Old 11-01-2011, 01:13 PM   #15
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The key is Two Incomes, No Kids.
My grandfather was a carpenter all his life, and my grandmother stayed at home with their 4 daughters. They did alright. I think it had to do with the fact that they lived like there was still a depression. I work full time, and so does my wife. We're doing pretty good, but we also buy whatever we want. I think it all depends how you promote your lifestyle. If me or my wife lost our jobs, we'd survive, but we wouldn't be able to do 3/4 of the stuff we usually do.
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Old 11-01-2011, 01:24 PM   #16
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to be fair, money is pretty cheap to borrow right now. no way I'd pay off my house early at 4.something percent interest.
I dont understand this statement (perhaps lack of coffee this morning).
Are you saying that the rates are so good that itd be stupid to pay off property early, or that you'd be stupid not to?

We refinanced our property to a 4.25% 15 year fixed over a year ago, and are now in the middle of buying another investment property at another low 4% rate to rent out. Plan to re-fi that one to a high 3% 15 year as well when I can (I think you have to wait a year or something).

Am I dumb for wanting to pay off all my properties fast and should invest the money elsewhere in the meantime?
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Old 11-01-2011, 01:34 PM   #17
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Save the few that were really laid off, weren't living beyond their means, and are in areas where cost of living is high and jobs are scarce...everyone crying about this economy is either retarded or a *****.

Can't find a job? You're not looking...there are plenty...they're just different than what you've been doing.

Can't pay your bills? You're living beyond your means.


We have a 1400sq ft house with low interest and decent equity. No car note until I picked up the Mazda2, and only did that because it was 0% interest. No debt besides some small student loans I'm paying back each month to the tune of $600/mo.

Wife and I both have mediocre paying jobs and we basically have an extra paycheck each month to tackle debt and save for the kid on the way.



Live cheaply and enjoy life. Don't be fooled into thinking a bigger vehicle with options, or eating out every weekend night makes you happy.

We spent 5hrs in the park Sunday walking, biking, and playing with our daughter. It was the most fun I had all week, and it cost us a couple of juice boxes and gatorades.
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Old 11-01-2011, 02:00 PM   #18
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We take in two paychecks, and live off one. The lower of the two. If you know me personally, you know I live on a tight budget and spend as little as possible. I have a food, gas, and fun budget each week. If we go over in food that week, we have to make up for it elsewhere, but keep in mind the amount that goes into savings never changes, once the money goes into to those accounts, it doesn't go back out.

Still, 10% unemployment is awful. god awful.
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Old 11-01-2011, 02:10 PM   #19
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Still, 10% unemployment is awful. god awful.
I wonder how much of that percentage is by choice.
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Old 11-01-2011, 02:24 PM   #20
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Quote:
Originally Posted by Braineack View Post
We take in two paychecks, and live off one. The lower of the two. If you know me personally, you know I live on a tight budget and spend as little as possible. I have a food, gas, and fun budget each week. If we go over in food that week, we have to make up for it elsewhere, but keep in mind the amount that goes into savings never changes, once the money goes into to those accounts, it doesn't go back out.

Still, 10% unemployment is awful. god awful.
I always wondered about this: what are you saving for?
Retirement? I'm just curious cause we do almost the same thing (but live off the bigger of the two)
(I can take my answer "off air" if need be )
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