WE ARE NOT IN A RECESSION

[Stoney]

That caused people to run in and pull their money out causing the bank to collapse.

Wrong.  Everyone's money was safely FDIC insured.  IndyMac was/is in the middle of legal action, and sitting on a ton of bad loans.  There wasn't a run on the bank.  It was a regulatory decision made due to IndyMac's poor/unethical business practices. 

[ghi]

Just spent $20 at grocery store to buy what used to cost about $12 not long ago.  OK, we're not in a recession.

i captured this last 3 days driving from Tx to Ontario, i don't know if you guys have inflation or depression, but the cost of living in midwest/west south central from Texas,AR,Mo,IL,IN is very low comparing with Canada , Europe,Japan.  Billboards advertising new houses from 90K-120k in TX, but i seen same prices all over midwest.  You can't buy a new house/townhouse or condo in Ontario for that price range. The price of groceries is also lower in US,: lots of peoples from Windsor  are crossing the bridge to Detroit for shoopings.
 Canada is #1 exporter of oil to US .....and look at  our gas prices, ..

San Antonio ,TX



south of Austin,Tx


gas price Rockwall ,tx east of Dallas,  3.89$/gal


gas price south of Sikeston,Missouri ( the lowest i seen 3.75/gal)


south of Detroit,Mi


what i payed for gas today here in Windsor,Ontario  1.33CAD/L x 3.7 L/G=4.9cad /gal x 0.99 usd/cad=4.87$/gal

[Yeager]

A RECESSION IS DEFINED AS TWO CONSECTUTIVE QUARTERS OF NEGATIVE GROWTH.

We have not even had a single quarter of negative growth........

[FrodeMk3]

We have not even had a single quarter of negative growth........

Yeager wins' a prize for spotting the Oxymoron!

...What was the prize? 

[FrodeMk3]

Hey Ghi, thanks for posting those pics!

BTW, If you were to come to my neck of the woods, you would see gas prices' of $4.49 a gallon, here in the city...$4.99 a gallon at the Chevron out on I-5.

[DREDIOCK]

Hey Ghi, thanks for posting those pics!

BTW, If you were to come to my neck of the woods, you would see gas prices' of $4.49 a gallon, here in the city...$4.99 a gallon at the Chevron out on I-5.

The ONE upside New Jersey has.
Is because we have our own refineries. Our gas is still cheaper then alot of the country.
I can, for the moment get gas for as low as $3.93 a gallon.

While it still sucks at that price. (costs me over $100 a week to fill my work van)
Its still better then $4.49


While home prices are cheaper. whats the job market and pay scale like?
I find that areas with lower costing homes usually have either a poor to mediocre job market. Or a lower pay scale. or both.

While areas with a larger job market and average pay scale to be higher (like NJ).
The cost of homes and damn near everything else is higher as well

The best I could find after a quick search in real estate in NJ for around 110K is a 2 beroom 2 bath condo
As far as homes go though I did find this pristine 2 bedroom gem for 104K

[Stoney]

While home prices are cheaper. whats the job market and pay scale like?
I find that areas with lower costing homes usually have either a poor to mediocre job market. Or a lower pay scale. or both.

Last fall I did some comparisons with my current locale, Reno NV, versus my home town just outside of Charlotte NC.  While the standard of living in Charlotte was 6% lower than Reno, the median home prices were 20-30% lower than Reno, and cost of living was 8% lower than Reno.  Charlotte also still boasts an unemployment rate of approx. 3%, and is the only major housing market to see an increase (2%) in new home sales in the 1st quarter 2008.  From talking to family back in God's country, I know that fuel prices, while high, are still lower than Reno.

So, in sum, I'd assume that some of those home prices in Texas probably represent a very affordable home, even in a rural home market, with an overall lower standard of living.  In the end, you still save money...

[DREDIOCK]

Last fall I did some comparisons with my current locale, Reno NV, versus my home town just outside of Charlotte NC.  While the standard of living in Charlotte was 6% lower than Reno, the median home prices were 20-30% lower than Reno, and cost of living was 8% lower than Reno.  Charlotte also still boasts an unemployment rate of approx. 3%, and is the only major housing market to see an increase (2%) in new home sales in the 1st quarter 2008.  From talking to family back in God's country, I know that fuel prices, while high, are still lower than Reno.

So, in sum, I'd assume that some of those home prices in Texas probably represent a very affordable home, even in a rural home market, with an overall lower standard of living.  In the end, you still save money...

but a low unemployment rate doesnt always equal an equal pay rate.

What are the jobs paying in Charlotte Vs that of Reno?

I know when my sister moved from here in NJ to Va. Va had pretty much the same thing you described for Reno/Charlotte only for NJ/Va Richmond area
While it indeed had low unemployment, lower cost property & property taxes and overall cost of living. The pay scale was also considerably lower.
so in the end it was a wash.

NJ residents have one of the highest incomes in the nation. But we also have among the highest everything else including taxes.too LOL
Hell we even have a tax if you want to move out of the state (Exit Tax)

the way I see it. If I can survive here till I am of retirement age. or even untill my house is paid off. I can sell my home pick myself up and move damn near anywhere else. Pay for a decent home outright and live reasonably comfortable with even a mediocre job

this chart is a few years old. But can you get the general idea

http://money.cnn.com/2006/01/25/news/economy/income_gap/

[Baitman]

GHI I pay anywhere from $1.45 gasoline to $1.55 per litre for diesel and the oil comes from the west ARG

I also read on comment on another blog that we are not experiancing inflation it is deflation we have.

[Stoney]

but a low unemployment rate doesnt always equal an equal pay rate.

What are the jobs paying in Charlotte Vs that of Reno?

Standard of living in Charlotte was 6% lower (i.e. 6% lower salaries--not exactly the same thing, but close enough for comparison).  Cost of living was 8% lower in Charlotte, plus the addition of the lower median home prices.  I got those numbers from the Bureau of Labor Statistics website, IIRC.

[FrodeMk3]

GHI I pay anywhere from $1.45 gasoline to $1.55 per litre for diesel and the oil comes from the west ARG

I also read on comment on another blog that we are not experiancing inflation it is deflation we have.

For a long time, many markets' around the world traded in U.S. Dollars. However, It's suffering from inflation at a fast rate; That's why the Canadian dollar is stronger than ours' right now.

[Baitman]

For a long time, many markets' around the world traded in U.S. Dollars. However, It's suffering from inflation at a fast rate; That's why the Canadian dollar is stronger than ours' right now.

No as of right now we are trading at $.9897 = $1 Cnd

That puts my fuel at (1.55 x 3.785)= $5.86675 CDN per US gallon

                     5.86675 x .9897 = $5.81 US per US gallon

20 to 40% of the price of fuel in Canada goes to Tax.
I have been told that we have the sunshine tax too.

Funny though I look at GHI price and think its a deal (got to give my head a shake)

[Hangtime]

psssssst...

....if the folks keeping score have a horse in the race, how good and or reliable is the score keeping?

A definition of 'economic recession' generated 50 years ago in a different economy and now picked up as a watchword for elitist pinheads wielding the policy power to turn on the money printing presses and admistered by folks that don't have to actually live in a world where the daily decisions amount to which necessity they get to do without today...

Well..  let's just say that here in my world the cost of living has skyrocketed far beyond any increase in revenues, and what has resulted is a recession in my household's economy.

I don't give a damn what the elitists call it on the news...  'downturn', 'recession'. 'distressed financial period'...

It's a freakin tragedy.

Of historic proportions.

And getting worse, every damn day.

So, go ahead folks, watch yer wealth shrivel away (or bury yer heads in the sand)....and wail and rant about the PC verbiage for the losses.

...but I'll continue to call it what it is.

Hell for workin folks.


Hang
Fat Drunk Bastage

Still

[FrodeMk3]

No as of right now we are trading at $.9897 = $1 Cnd

That puts my fuel at (1.55 x 3.785)= $5.86675 CDN per US gallon

                     5.86675 x .9897 = $5.81 US per US gallon

20 to 40% of the price of fuel in Canada goes to Tax.
I have been told that we have the sunshine tax too.

Funny though I look at GHI price and think its a deal (got to give my head a shake)

That's what I was getting at; The U.S. dollar is currently weaker than the Canadian equivalent. Most likely due to the U.S. dollars' inflation rate, rather than the Canadians' deflation.

[Baitman]

That's what I was getting at; The U.S. dollar is currently weaker than the Canadian equivalent. Most likely due to the U.S. dollars' inflation rate, rather than the Canadians' deflation.

Frode

$1 Canadian = $.9897 American       

$10,000 Canadian = $9,897 American

Canada is in an inflationary position and it the US that is in a deflationary periond because of printing to much money.

Here is a link to find out where another $15,000,000,000 US  new printed dollars are going.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4322440.ece

When will it end.