What were they like? Lets try to keep these thread about past rescissions and how they relate to the currant one. I'm interested in hearing people's thoughts.

I had a pretty long conversation today with a few people, and I have been observing for a long time. It seems to me that everyone is nervious, some with good reason because they lost their jobs! Others are just cutting back on spending. A boat broker I know said in a round about sort of way that only a handfull of people are buying boats. I got the impression that its much, much slower than the real estate market. I know the local car lots all seem to have the same cars sitting around, and I always see the salesman talking to eachother in the lobby.

One person I talked to has been in the grocery business forever. He said he has never seen anything like this. People are buying less food, and his costs are skyrocketing. Because of the increased cost of diesel, and the increased use of E85 food prices are going up, and margins are going down. Also opperating costs are way up because of electricty costs, CT sucks on that area. However having said that he is opening a new store this year, he is taking advantage of a failed stores space and getting a good lease price.

How did the 80's compare? The fuel crises in the 70's? To me it almost seems like the two blended together. Tight credit and very high energy costs.

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1999 SL500
1969 280SE
2023 Ram 1500
2007 Tiara 3200

what recession?

Isn't a rescission a medical or religious procedure?

Basically, a recession effects the "disposable income" sector of society first...then everyone else has to think first about how they're going to spend what cash they have and the necessities that they NEED...

Back in the 70s, with the gas-crisis, it was really a problem for the the folks on the east and west coasts and down south where the economy was geared to the tourists...

In the upper Mid-west...gas prices went up, but I don't remember seeing closed/emptied gas stations in Wisconsin (except maybe in the SE corner of the state, around Milwaukee) and in the Chicago area, there were rumors, but I never saw it myself.

The luxury market will be at the beck-and-call of the uber-rich, but they don't go out a buy a boat-a-week...the uber-rich will be raking in the deals as businesses go begging for a sale...

As for us shmucks...

I won't be buying the mink-fur fuzzy dice for "Fausta" - I may just have to spend my cash on a few linkage components. Really ripping decision there...in the mean time...I'll keep on working - it beats sitting around and trying to find someone to point a finger at to blame the recession on...

And all the while, the world still turns...

BTW, I just got back from the "local" casino...didn't hurt myself too bad there...come out with over twice what I went in there with...I just love myself!

__________________

M. G. Burg
'10 - Dakota SXT - Daily Ride / ≈ 172.5K
.'76 - 450SLC - 107.024.12 / < .89.20 K
..'77 - 280E - 123.033.12 / > 128.20 K
...'67 - El Camino - 283ci / > 207.00 K
....'75 - Yamaha - 650XS / < 21.00 K
.....'87 - G20 Sportvan / > 206.00 K
......'85 - 4WINNS 160 I.O. / 140hp
.......'74 - Honda CT70 / Real 125
.
“I didn’t really say everything I said.”
. . . . . . . . . . . . . . . . . . ~ Yogi Berra ~

I was just out of college during the 80's...was a struggling college grad working my first job and struggling to make a living on a meager salary...so I don't remember anything directly that impacted me in a positive or negative way.

I started driving in '76, and the gas crisis was well into the third year and waning. Never saw depletions or the long gas lines as portrayed in the photos...but I did drive the VW in my sig...could fill up the tank for $5!!

Muscle cars were a bit expensive to keep fueled back then, so you could get used ones for bargain prices!!! A neighbor had put his Barracuda for sale for $3K!!! Wish I knew then what I know now!

Nowadays, fuel and utility costs eat away at what little is left of disposable income...so we just do with less luxuries...buy only staple goods at the grocery stores, eat out less frequently, that sort of thing...and of course, deferring big-ticket projects like home improvement or vacation packages.

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2009 ML350 (106K) - Family vehicle
2001 CLK430 Cabriolet (80K) - Wife's car
2005 BMW 645CI (138K) - My daily driver
2016 Mustang (32K) - Daughter's car

Yep.... Really.. I did not care/know...I was a kid.....................

My first car.."1980" :... Was a 67 Mustang with a 302..351 heads, 4sp...whoa..In 1981.... I bought a 1969 Camero Z28 302...Oh the good old times...owned both cars at the same time!!......................Thanks too... Mom!!!....I miss her................She was/is a Sweet Lady....

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Matt (SD,CA)

1984 300SD.. White/Chrome Bunts..Green

1997 2500 Dodge Ram 5.9 Cummins 12 Valve 36 PSI of Boost = 400+hp & 800+tQ .. ..Greenspeed

2004 Dodge Ram 2500 4x4 Quad Cab Cummins 5.9 H.O "596hp/1225tq" 6 spd. Man. Leather Heated seats/Loaded..Flame Red....GREENSPEED

Global warming...Doing my part, Smokin da hippies..

Fight the good fight!......

Let's not start reminiscing about the W.P.A. and C.C.C. (Or whether your
GrandDad's/GrandMother's overalls will fit you)just yet.

Although, I wouldn't mind seeing a few:Members of the "Fed"s boards,any
mortgage banker,most Real-estate brokerage owners,the Wall Street smucks
who repackaged all this excrement,and hoodwinked everyone else on the
planet with it(Damn I know I've left out a few)
GET THEIRS NIGHTLY on "THE RETRIBUTION CHANNEL".
[New Network...Strips the scumbags of all their worldly possessions,
and forces them to do community service FOREVER for the homeless and less fortunate.]

America has this spooky ability to "not see the man behind the curtain".
(I.E. If we ignore the Slowdown/Recession/Depression it will go away.
The spooky part is it might[with no controls over financial misdeeds in
the future].)

What worries me are the phenomenal debts [The "Adventures" in Iraq,
The Mind Blowing debt as a result of trade imbalances(Chinese),Insane
Federal Spending the last 7 years]that no one is even talking about
dealing with.
A year ago we used to joke about becoming the next "Rogue" Chinese
province (We owed them so much they would be forced to collect at
some time...The collection being becoming Chinese).And the joke was
we'd just declare all foreign debts null and void...Overnight at the
same time we printed up "new" money only usable by U.S.Citizens.

The truckers are talking about striking on Thursday...
Two Weeks of That...and you'll see a lot of those
Jackasses in the State Capitals and D.C. sit up and realize the
"Bloom is off the Rose".

Let's face it, America has not had a real challenge since WWII ended.
We will all be amazed at how this country can still pull together.

__________________
'84 300SD sold
124.128

That's Circumcision ...

Very good post.
I posted this article:
http://www.peachparts.com/shopforum/showpost.php?p=1808248&postcount=81

It doesn't take a PhD to figure out what that means.

What happens here is such an amazing turn around, it even makes my head spin and I can imagine a lot....

If any one is going to tell me, this just happened by coincidence ... I'm sorry I don't think so.

The funny part: They'e calling it "consumer protection", the way they're expandng their control over the monetary system.

Gosh, I wish, I would have been born with such audacity ...

Thank You!

I'd heard some rumblings on the BBC earlier Saturday about some kind of "New"
"Economic Manipulation" scenario.

I'll have to ruminate over THAT missive for a while.

Shotgun reaction would be:"I'm from the Government,and I'm here to help You"
is difficult to vocalize when the peasants are holding you down and busting
your vocal cords with a 12Lb sledge.

__________________
'84 300SD sold
124.128

There is no recession, and by the time one is identified, it may be over. A recession is two consecutive quarters of negative GNP. We haven't even had one.

If someone is in the wrong business in the first place, they need to change businesses, or move. Same as when there actually is a recession. The time to buy is when prices are lower, but usually people buy when prices are higher, then sell at a lower price.

Recently someone was touting buying Apple and Google stock at all time high pricing, again, what a joke! Buying high and selling low, or buying 2% yield, government backed instruments when it's too late, are all some people are capable of.

People are all smug about buying CDs and T-Bills that yield less than 2% after taxes and inflation, then they boast that they've really made a strategic move! LOL! What a joke! These clowns don't have the brains or money to buy stocks at bargain prices. When they need to borrow money from the bank to buy decades old cars, there's a clue to being broke.

The only smart people are people that have the ability to buy stock and real estate at bargain basement prices........and there's not but a few of them. The running scared, screaming recessioners, will again wait and buy when prices are high. Totally irrational, and totally predictable.

According to the dictionary 'recession' is defined as a 'period of economic reduction'. That's exactly what we have, in reality.

Reality meaning, we deal with real money or with a steady stream/budget of money.

But instead, interest rates are being cut (which is ok ... ) to keep the credit system afloat, because otherwise even less would be able to pay back their loans.

The one solid and undeniable factor of a recession is inflation.

Considering the current/most recent rate of inflation, they better put the brakes on it quickly.

Yet, instead as Ron Paul suggested to eliminate the Fed Reserve and reinstate a monetary system based on gold and silver, the Fed Reserve gains even more control over Wall Street, the entire banking system and even the derivatives market, in the near future.

So, not only is the nation being taken advantage of by the banking elite, but also is this particular elite taking the nation one step further toward a socialist concept of banking and market control.

How'd you like that?

Well Said LaRondo,
Let the markets figure it out and keep the socialists out of the equation. Cut corporate tax rates and give the money to those who can create jobs, not the government.

__________________
2009 E320 Bluetec 117,000
1995 E300D 306,000 Sold
1996 Ford Taurus LX 130,000 Sold
1985 300TD Still 225,000 Sold
2016 Ford Fusion 24,900

I purchased my first home in 1981. It was 825 sq ft, cost $31,000 and had a 13.9% note. At the time, that mortgage was like making a payment on a luxury car. My income that year was about $28,000 gross.

__________________
Never a dull moment at Berry Hill Farm.

I can only speak for myself and the local economy.

I lived through the gas crisis of the seventies (most of it) and the recession period of the eighties. In my experience, this is much worse than those two.

My point of view is different of course than it was in the other two scenarios.

Tom W

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.