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The R Word

Started by pkamm, 10/18/2007 09:17AM
Posted 10/18/2007 09:17AM Opening Post
So some poll says 49% say the U.S. is in a recession. At what point does this psychology become a self-fulfilling prophecy?
Posted 10/18/2007 03:06PM #1
I think a lot of people were having a ball with home equity money and easy credit. They either sold their house for a good price and retired or spent some of the windfall or ran up debt and then covered it with a home equity loan. With the wind taken out of the real estate market and lending practices tightening up, I don't think people have as much extra money. And, if they do have extra money, I don't know if they are going to sink it into their homes as readily because they don't know if home improvements are going to pay off. Apparently car sales follow home sales and they are off too. And, even if you do have money, the money isn't always as sure because businesses are always restructuring so there is a lot of uncertainty. So, I'm thinking a recession could come soon.

I have several telescopes, but none are semi-APO, APO, or in anyway valuable.