Slump in Plane Travels Grounds Wichita

The NY Times ^ | 041603 | Peter Kilborn

[annyokie]

That's too bad for your sis. I saw this an awful lot when I was selling Jaguars in San Diego. I'd get these two income couples and pull up their credit reports and invariably they were 30 days from filing bankrupcy if one of them lost their job. Every credit card maxed out and a mortgage they could barely afford, but they want to lease a $65,000 car.

[El Gato]

Before that I drove a 79 Dodge into the ground, putting 277,000 miles and 21 years on it

Well, I only had 12 1/2 years on my '90 Mazda, but I also had 377,000 miles when I traded her in for a '99 last year. First used car I've bought for myself since '76, when I put my '68 into a ditch and totaled it, while a "low income" grad student. That was a result of Clinton-sizing of the defense industry. I ended up doing what I advised the folks to do above. I moved. And I wasn't able to take my wife and daughters with me either, so we still live 350 miles apart and support two households, mine being fairly downscale, although more than I really "need" so that I have room for the family when they come to visit, which they do, since most everybody like to come to San Antonio at least to visit.

[HiTech RedNeck]

How is starting a new business being careless with money?

Someone is surely going to speak up and say, it's because the business was opened in an area with a weak economy.

[DC native]

"Why can't the president help people who are losing their houses and jobs?...It's not our fault that we lost our jobs, what the terrorists did."

But Bush IS doing something...that's what this war is all about. It's not about liberating Iraq...that's just a cover story to placate the bleeding hearts. This is about national security...it is literally about survival of the nation, and that includes financial survival. It's all about convincing the terrorists that their actions are not worth the consequences...it's all about stabilizing the Middle East..and the airline industry will in turn be stabilized. This administration sees the big picture and is taking action that will ultimately strengthen our economy. It would be quicker to hand out checks, but Bush's approach will be more beneficial in the long run.

[HiTech RedNeck]

So why did you go ahead and lease them the car? Wasn't that immoral of you?

[annyokie]

Life has humbled me many times, my friend.

[SoDak]

San Antonio is pretty cool. I'm coming down there next week for business. I always like visiting that area.

[Poohbah]

When you've been bouncing from layoff to layoff, and you decide to become a consultant in the middle of an economic downturn...

You're going to have problems.

Bottom line: they may have to move. They wouldn't be the only folks to ever have to do this. It won't be the end of the world if they do it.

[HiTech RedNeck]

So God now owes you for all that humility you've put in, and guarantees that an illness will never wipe out your savings?

[ARCADIA]

The Feds job is to create a macroeconomic climate that stimulates investment, growth, and ultimately jobs.

Well they are certainly screwing that job up.

We have to break the business case for taking jobs overseas. That means either running high inflation to depreciate the currency, or sealing the borders with tariffs and quotas. Open wide, the tonic will be dished out soon enough.

[annyokie]

I didn't. They didn't qualify and I councelled them that they did not NEED a Jag at that point in their lives.

[kaktuskid]

Shut down PBS. And NPR. And the BIA,Energy Dept,BLM,Education Dept,Amtrak, and everyother non needed agency.

[RAT Patrol]

If you knew that helping them with federal tax dollars would harm the economic recovery and potentally throw more people into their situation, would you still be for it?

I think that is exactly what would happen. They do have other options -- admittedly sad.

BTW, I sold a house in Wichita a year and a half ago for $115,000. It was a very nice house. We moved for employment reasons (I love Wichita).

[El Gato]

They probably used up their capital starting a new business and weathering the last downturn

That may be where the discrepancies in the Mortage payement, selling and purchase prices of their house come in. They may have refinanced or taken a second mortage to help fianance his buisiness. If so they wouldn't be the first people to do that.

[HiTech RedNeck]

Surely others did technically meet the qualification criteria and you either had to lease or be fired. What did you do?

[RAT Patrol]

Freedom is never risk free.

[annyokie]

Get over yourself. It must be something to have a direct pipeline to what the Lord thinks and knows about us all.

You are so special.

[HiTech RedNeck]

That is EXACTLY my point. Those who think they have their earthly future totally nailed down by saving X amount of dollars (like annyokie appears to be boasting) don't understand freedom.

[Charlotte Corday]

It is about GD time people realized that the economy is cyclical

The "business cycle" which is really nailing us down works like this:

Democrats are elected, they add regulations and laws to the system

Republicans are elected, they leave intact nearly everything the Democrats just did

Democrats are elected, they add regulations and laws to the system

Republicans are elected, they leave intact nearly everything the Democrats just did

Democrats are elected, they add regulations and laws to the system

Republicans are elected, they leave intact nearly everything the Democrats just did

Repeat until economic collapse occurs.

[HiTech RedNeck]

You are the one billing yourself as special. I have no prophetic "pipe line" to the Lord; it is YOU who appear to be claiming such a pipe line. Otherwise you could never say "I never will go bankrupt." At best you can say "it appears the odds are I will not go bankrupt."