Here's What's Happening to the Economy

American Thinker ^ | March 12, 2009 | Randall Hoven

[ChessExpert]

To summarize in round numbers, we can approximate the blame by time periods:

* Housing crisis (Jan-Aug 2008): 10% market decline.

* Financial failures (Aug-Sep): 5% decline.

* The Paulson/Bush bailout (Sep-Nov): 20%.

* President-elect and President Obama (Nov-Mar): 30%.

President Obama described the stock market as having "gyrations," saying it "bobs up and down day to day." I recommend you not bob for apples with President Obama.

[driftless2]

The problem is the narrative that has won out over the others is the Dem narrative. That is: the FMs and Dem congressmen had nothing to do with the financial debacle. It was all greedy bankers and investors coupled with lack of regulation on the part of the Bush admin. It’s not the truth, but it’s the narrative that won Obama the election and is still dominant today. They’ve managed to push the part of the FMs in this crisis down a memory hole.

[norraad]

Uber-Cuber!

I guess, for me, it harkens back to the good'ol'dirt track days when my Uncle would say,

"Get as much of the car on the truck and we'll put'r back together for next weeks race."

It won't make sense for everyone but these old rides become a very beloved part of the family, plus over the years we've customized them here and improved them there, so they can become very high quality unique transport that the car companies can't really afford to make anymore.

So in a sense you are very correct, we have alot in common with our once very close and adorable southern neighbors.

[Dan(9698)]

But you paid way over retail..

We have had it about a year, so it was in line. It is like new.

[backhoe]

Care to join in the fun? How old/miles is yours?

Well, my Amigo was bought six years ago, 120K miles... now 180K. Uses no oil, run premium synthetic in it, filter change every 3,000 miles, oil ( alleged to be good for 15K ) every third filter change.

Paid $3,500 for it, usual tires, belts, brakes, hoses.

Maybe not my ideal vehicle ( sure miss a big V-8 and automatic ) but runs fine, the AC is cold, and it's paid for...

[an amused spectator]

I think they may have been right, I think people are stocking up while they can.

Interesting possibility.

I did my stocking-up a couple of months ago, so my February spending was flat to down.

[Neidermeyer]

There are two tricks ,,The first isn’t a trick ,, just don’t drive like a teenager... I only change my fluid about every 100,000 miles ,, most problems with modern tranny’s have to do with electric components , pressure switches , solenoids (with very tight clearances) and external wiring connectors becoming corroded .. Second “trick” isn’t really a trick either ,, I use “AUTO-RX” which is a metal cleaner to scrub the internals before a fluid change ... look at auto-rx.com ,, the stuff is magic ,, cleans very thoroughly and slowly ,, can be used in the engine or tranny.. it was originally developed as a cleaner for industrial printing presses that couldn’t be taken out of production... it desludged my Crown Vics motor (ring packs) and took it from using a qt of oil every 300 miles when I bought it to 1 qt every 1500 miles, it also fixed a front main crank seal weep... very cool stuff.

[Neidermeyer]

we do use Slick 50 after 50,000 miles.
******************************************
Slick50 is seriously awful stuff ,, putting solid lube into an engine (no matter how finely ground/powdered the pieces are) WILL clog up tiny passages such as lifter bleed holes and pressurized bearings in addition to coating/filling the pores in your oil filters paper media and put the oil filter in “bypass” mode which means it’s not filtering just recirculating.

With that said I will acknowledge you will see a decrease in friction at first but it’s a fleeting gain... the best and only solid lube I would use was an oil (can’t remember the brand name now) that is no longer sold that had graphite in it ,, it worked great and graphite would pulverize without building up on surfaces like PTFE,,, the only problem was that your oil was pitch black and it would cause problems if you had to explain to someone why your oil was so black, such as if you were selling it..

[Notary Sojac]

Type in your address on Zillow (you already did that) and you see the satellite map view of your house with the calculated price in the "cartoon balloon". Then click on your address in the balloon and it will take you to a follow on screen. Scroll down and you'll see 1,5, and 10 year graphs.

I claim no great economic genius for myself. All I saw was people whose incomes were no more than $60-$70000 bidding up house prices in my neighborhood to close to half a mil.

Nobody can pay eight times their income for a house, not for very long anyway. I knew it was time to get out, and I could probably buy my house back for 65% of what I sold it for, if it wasn't that I believe there's more price drops ahead.

His summary is certainly better that the Democrat’s summary of “it’s all Bush’s fault.”

The commonly held view on FR that it's all Clinton, Dodd and Frank's fault is only minimally more accurate.

[palmer]

Here's what you need to know:
credit bubble: late 1987 to fall 2007
credit deflation: fall 2007 to present

[palmer]

I knew it was time to get out

I knew it was time in 2003 and felt guilty charging the new buyers more than I thought it was really worth. Then they enjoyed a 200k rise themselves.