[FairfieldLife] Re: Fiscal train wreck feared
--- In FairfieldLife@yahoogroups.com, anonymousff [EMAIL PROTECTED] wrote: --- In FairfieldLife@yahoogroups.com, jim_flanegin [EMAIL PROTECTED] wrote: --- In FairfieldLife@yahoogroups.com, authfriend [EMAIL PROTECTED] wrote: --- In FairfieldLife@yahoogroups.com, anonymousff [EMAIL PROTECTED] wrote: On the cover of my local newspaper today (big city in a big state) is the headline, Fiscal train wreck feared: Experts say lurking U.S. crisis may spur market plunge, pension losses, lower standard of living. Reported on CNN this afternoon as well, very gloomily. Yes, the news organizations thrive on conflict and failure. All of this; the 'bird flu', and bad this and bad that, and be afraid of this and be afraid of that, is so *incredibly* selective. snipped here I'm declaring it a massive conspiracy of muddy consciousness; the hideousness of small minds. i agree that it is the hideousness of small minds but that doesn't mean that what is being said is not the real truth. these small minds have created this vast mess and don't seem the slightest bit interested in helping anyone except each other get out unscathed. people in dire poverty are getting poorer while those with money stand by and add more money to their coffers. what's small about that? people who worked for 40 years and saved every possible penny find out their pension no longer exists. that's not small. ourselves so often as powerless victims, as occupants of a large, fearful cesspool, as 90% goners. Not me. Not you. Not any of us. Agreed. It seems my earlier remarks are being misinterpreted as a head in the sand/clouds mentality. Not true. Just observing that there appears to be a disconnect between the 'news' we focus on and reality. I am certainly not advocating ignoring the problems of the world, just remarking that what we are told and the consequent collective consciousness it creates are a product not only of concern, but of negative bias also. Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Fiscal train wreck feared
--- In FairfieldLife@yahoogroups.com, anonymousff [EMAIL PROTECTED] wrote: On the cover of my local newspaper today (big city in a big state) is the headline, Fiscal train wreck feared: Experts say lurking U.S. crisis may spur market plunge, pension losses, lower standard of living. Reported on CNN this afternoon as well, very gloomily. Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Fiscal train wreck feared
--- In FairfieldLife@yahoogroups.com, authfriend [EMAIL PROTECTED] wrote: --- In FairfieldLife@yahoogroups.com, anonymousff [EMAIL PROTECTED] wrote: On the cover of my local newspaper today (big city in a big state) is the headline, Fiscal train wreck feared: Experts say lurking U.S. crisis may spur market plunge, pension losses, lower standard of living. Reported on CNN this afternoon as well, very gloomily. Yes, the news organizations thrive on conflict and failure. All of this; the 'bird flu', and bad this and bad that, and be afraid of this and be afraid of that, is so *incredibly* selective. To all of the statisticians on this site, and others, let's assume one newsworthy event happens to each of the 6.5 billion people on the planet, every ten years. Surely each of us can look back over the last ten years and find *something*, one thing, individually newsworthy... (whether we would choose to report it is another matter...) That then gives us about 1.8 million events to choose to be reported, to focus on, to see on TV, read in newspapers, hear on the radio, each *day*. And what do we *always* hear about? The cherry-picked downers; the conflict, the failures, the problems, the unresolved issues, the horrible events. I'm declaring it a massive conspiracy of muddy consciousness; the hideousness of small minds. Not to ignore what is, but to no longer blow it out of proportion, see ourselves so often as powerless victims, as occupants of a large, fearful cesspool, as 90% goners. Not me. Not you. Not any of us. Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Fiscal train wreck feared
--- In FairfieldLife@yahoogroups.com, authfriend [EMAIL PROTECTED] wrote: --- In FairfieldLife@yahoogroups.com, anonymousff [EMAIL PROTECTED] wrote: On the cover of my local newspaper today (big city in a big state) is the headline, Fiscal train wreck feared: Experts say lurking U.S. crisis may spur market plunge, pension losses, lower standard of living. Reported on CNN this afternoon as well, very gloomily. Yes. Following is one of the gloomiest, yet most credibly sourced (the people cited for comments) on the economy -- the housing bubble being the major anchor downward. -- http://www.signonsandiego.com/news/business/2005-1315-wallmain.html Housing bubble's burst could cost 1 million jobs and cause a recession, experts say NEW YORK Much of the nation has had a lovely real estate boom for the past five years, but the house party is almost over and the cleanup won't be pretty. That's the word from economists and investors who have watched housing prices march ever higher. The collapse of the housing bubble will throw the economy into a recession, and quite likely a severe recession, warned a July report by the Center for Economic and Policy Research. In recent weeks, many major investment firms have concurred. Said a Lehman Brothers report, (A) turn in the housing market is central to our economic forecast. The demographic story behind the housing market boom, as we always thought, was a giant hoax, wrote Merrill Lynch Co.'s North American Economist, David Rosenberg, in a recent report. If housing prices decline sharply, the effects could be broad. Lehman estimates one-third of the past year's U.S. economic growth was a consequence of the housing boom. Housing construction is equal to 5 percent of the national economy. A downturn in housing could mean more than 1.3 million lost jobs, Goldman Sachs Group Inc. predicts, bumping up the national unemployment rate by 1 percent and the unemployment rate in house-mad California by 2 percent. Those numbers don't include likely job cuts in housing-dependent businesses, such as banking, furniture and building materials. The Center for Economic and Policy Research predicts worse, saying a bubble burst would mean the loss of 5 million to 6.3 million jobs. The housing run-up has financed consumer spending, creating more than $5 trillion in bubble wealth, the center estimates. Consumers have used cash-out mortgages to pay for everything from new kitchens to college tuition. A final nightmare scenario: A federal bailout of the mortgage market is likely if housing crashes, the center predicts. So, if corporate pension funds continue to falter and this dire prediction does come true, the Feds could conceivably be holding your mortgage and your pension. While there's disagreement on what a downturn will mean, it's widely held that a number of factors could bring prices down. A decline in prices will track interest rates: If rates go up sharply, housing prices will plummet, said Mark Zandi, chief economist at Economy.com, an independent provider of financial research. If rates increase slowly, housing prices may ease gradually. Others point to simple supply and demand. Bubbles have their own psychology a neighbor tells you at a party that her house has tripled in value and you feel like an idiot for renting but supply and demand operates on logic, which has to kick in at some point. The supply and demand picture for housing looks out of whack. For six straight months, ending in September, builders started work on more than 2 million new homes. This has only happened three other times in the postwar period, according to Merrill Lynch: 1971 to 1973, 1977 to 1978 and early 1984. Those periods were fundamentally different from today in at least one respect: More people were forming households. Household formation is the growth rate in the number of households and it's boosted by new immigration and twenty-somethings leaving their parents' homes. It is currently half what it was for most of those peak periods. At no time in the past three decades has the gap between household formation and housing starts been as wide as it has been over the past 12 to 24 months, Rosenberg wrote. We've become accustomed to hearing about how housing is in a new paradigm, that the fundamentals are sound, so on and so forth. But please, just don't tell me that the sector has managed to divorce itself from supply and demand realities. He points out that the number of households in the group most likely to buy a home, 25- to 44-year-olds, fell 2 percent last year, a record decline. Another indicator, unsold homes sitting on the market, also points down. The ratio of inventories to sales has been rising rapidly in recent months and now stands at its highest level since 1996, according to Wachovia Corp. Rents provide more evidence of an imbalance between supply and demand. Since World War II ended, sale prices for homes have generally kept
[FairfieldLife] Re: Fiscal train wreck feared
--- In FairfieldLife@yahoogroups.com, jim_flanegin [EMAIL PROTECTED] wrote: --- In FairfieldLife@yahoogroups.com, authfriend [EMAIL PROTECTED] wrote: --- In FairfieldLife@yahoogroups.com, anonymousff [EMAIL PROTECTED] wrote: On the cover of my local newspaper today (big city in a big state) is the headline, Fiscal train wreck feared: Experts say lurking U.S. crisis may spur market plunge, pension losses, lower standard of living. Reported on CNN this afternoon as well, very gloomily. Yes, the news organizations thrive on conflict and failure. All of this; the 'bird flu', and bad this and bad that, and be afraid of this and be afraid of that, is so *incredibly* selective. ,,, I'm declaring it a massive conspiracy of muddy consciousness; the hideousness of small minds. Not to ignore what is, but to no longer blow it out of proportion, see ourselves so often as powerless victims, as occupants of a large, fearful cesspool, as 90% goners. Well, that doesnt mean there are no large global problems. One can stick their head in the sand of bliss (oh, just feel the bliss) or attribute them to neo-con conspiracies (the Rumsfeld profit scam from bird flu is one of the funnier from the aluminum beanie crowd) OR, recognize or at least be cognizant of some real threats. Bliss can still be maintained with the recognition of national and gloabal scale the threats. Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[FairfieldLife] Re: Fiscal train wreck feared
--- In FairfieldLife@yahoogroups.com, jim_flanegin [EMAIL PROTECTED] wrote: --- In FairfieldLife@yahoogroups.com, authfriend [EMAIL PROTECTED] wrote: --- In FairfieldLife@yahoogroups.com, anonymousff [EMAIL PROTECTED] wrote: On the cover of my local newspaper today (big city in a big state) is the headline, Fiscal train wreck feared: Experts say lurking U.S. crisis may spur market plunge, pension losses, lower standard of living. Reported on CNN this afternoon as well, very gloomily. Yes, the news organizations thrive on conflict and failure. All of this; the 'bird flu', and bad this and bad that, and be afraid of this and be afraid of that, is so *incredibly* selective. snipped here I'm declaring it a massive conspiracy of muddy consciousness; the hideousness of small minds. i agree that it is the hideousness of small minds but that doesn't mean that what is being said is not the real truth. these small minds have created this vast mess and don't seem the slightest bit interested in helping anyone except each other get out unscathed. people in dire poverty are getting poorer while those with money stand by and add more money to their coffers. what's small about that? people who worked for 40 years and saved every possible penny find out their pension no longer exists. that's not small. ourselves so often as powerless victims, as occupants of a large, fearful cesspool, as 90% goners. Not me. Not you. Not any of us. Yahoo! Groups Sponsor ~-- Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM ~- To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
