How does the economy look from where you are standing? - PeachParts Mercedes-Benz Forum

TwitchKitty · #1 08-10-2007, 03:06 PM

Wow, I must not be paying attention.

Quote:

Oil Falls to Five-Week Low as Economic Slowdown May Cut Demand

By Robert Tuttle

Aug. 10 (Bloomberg) -- Crude oil fell to a five-week low in New York on concern demand may decline if the global economy slows.

Gasoline consumption, which typically peaks in the summer, has fallen for three straight weeks in the U.S., where a housing slump and debt-market losses may cut economic growth. Demand, averaged over the past four weeks, is 0.8 percent higher than the same period a year ago, about half the normal rate of growth.

``Where is the incentive to buy up the market if you've got the end of the driving season and concerns about business investment and growth?'' said Jason Schenker, an economist with Wachovia Corp. in Charlotte, North Carolina. ``All of this is downside risk for commodities and for crude.''

Crude oil for September delivery fell 90 cents, or 1.3 percent, to $70.69 a barrel at 12:10 p.m. on the New York Mercantile Exchange. The price fell as low as $70.10 during the session, the lowest since July 2.

Stock and commodity prices fell earlier today as central banks injected funds into the banking system to stem a collapse in credit markets.

http://www.bloomberg.com/apps/news?pid=20601072&sid=af0tzhyGUXCA&refer=energy

Dee8go · #2 08-10-2007, 03:07 PM

Nobody can afford to drive anywhere. We're all trying to scrape together enough to pay our balloon mortgages, I guess.

Mistress · #3 08-10-2007, 03:13 PM

woooohooooooooo! Looks good from where I am sittin.

MattBelliveau · #4 08-10-2007, 03:15 PM

Considering yesterday's drops in almost every public market, not very good. We'll see what the next few days look like.

Hatterasguy · #5 08-10-2007, 03:17 PM

Its looking pretty good where I am. Houses are selling a bit slower for a bit less, but no worries. Tons of good buys to be had in my area!

Gas is still pretty cheap.

Times are good.

MTI · #6 08-10-2007, 03:18 PM

As long as the roots are not severed, all is well. And all will be well in the garden. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again. There will be growth in the spring

Dee8go · #7 08-10-2007, 03:21 PM

I don't REALLY have a balloon mortgage. I was just making a supposition. Actually, I very rarely sell any of my investments. Last week I decided to sell some to pay for home improvements. Unfortunately, I waited until THIS week to place my sell orders.

Benzadmiral · #8 08-10-2007, 03:27 PM

Crumpled to its knees.
.

SwampYankee · #9 08-10-2007, 03:48 PM

Not too shabby. My 401k continues to increase in value. Fuel is still the least of my expenses. Our company sales continue to increase at a manageable rate and will be hiring an additional salesperson and our first salesmanager.

BAVBMW · #10 08-10-2007, 04:29 PM

While I'm more of a simple guy than many here, no stocks, bonds, or large investments, things look good to me. Jobs are plentiful, housing is coming down (it had been insanely booming), gas is coming down (finally under $3 for the cheal stuff), and most everyone seems to be doing good and complaining little.

The only thing that's got me ticked is that ammo has gone up so much lately.

MV

Hatterasguy · #11 08-10-2007, 04:45 PM

Quote:

Originally Posted by BAVBMW

The only thing that's got me ticked is that ammo has gone up so much lately.

MV

I just paid $25 for 50 rounds of .30 carbine!

Damn shooting is an expensive, I was crying for the rest of the day after buying that.

Jorn · #12 08-10-2007, 04:50 PM

Looking at all the Bentley's, Ferrari's, Austin Martins, etc I see on a daily base in my part of town it looks like it's doing pretty well.

BAVBMW · #13 08-10-2007, 05:01 PM

I love my carbine, but buying it wasn't one of my most economical moves. It carries like my .22, shoots like my .22, but ammo costs 10 times what .22 ammo goes for ( I buy good .22 ammo, it's way worse when compared to the cheap stuff).

Why I've taken to plinking with a .40 I'll never figure out, it's roughly a quarter a shot, still much more than a .22, and (other people's discarded) beer bottles break the same.

Is that a good measure of the economy, I'm finding many more beer bottles tossed away in the middle of nowhere? That's got to be somewhat of an indicator right?

MV