The Economy Part II

[Asbradley21]

According to asbradley - it's worse.

:wgaf:I'm not getting dragged into this thread.

[Funkmasta]

Asking someone to rate "the economy", is like asking a r3vvie to rate their E30 as a winter daily driver

[cactusjacks1]

I spend a lot of my time in business's related to the auto industry from new/used dealers to large/small auto repair shops to scrap/junk/pick your parts type yards. In So Ca, the state of the auto industry is a good pulse on the economy of this state - if you also think it is reflective of attitudes in general - in that respect, it can then also project to the US. The first 8 months of the year with gas prices up sharply & the 25-35% fall off in RE values, CA was probably one of the worst hit & greatest value looser in the US. When your $$ doesn't go near as far as it did a year ago & your forced to cut in areas just to pay for your work commute, it really becomes a balancing act & it seems like everyone held their breath. In a 10 mile radius 5 new car dealerships are now just vacant acreage - three others have downsized or combined makes under 1 roof. All of them are US manufacturers. In the same area, many auto shops closed their doors. The pick-your-part operations saw a marked increase in their business & raised their prices across the board 10-15%. Business is still going up. It seems that all other auto related business was down sharply, then began to rebound slowly in @ May. As the consumer again began spending a little on general/preventive maintenance for their vehicle, many had to spend that $ in a different auto shop, as the one they had been going to was no longer in business. Their has been a big shakeout in the auto repair business.

An interesting phenomenon is occurring in the consumers choice of how they spend their auto repair $$. They seem to have shifted mental gears from - get as much done for as little $$ as you can -
to get the best value for your car repair $$. The consumer seems to be going through the change from "cheap, squeeze the nickle for all it's worth" to recognizing & subscribing to the "value added" concept.
That vehicle costs 53% more per mile to operate than it did a year ago. Find a shop owner you can trust & become his friend. He will keep your car in good running condition.

This phenomenon should be good news to people like Mr. Colegrove.

[TwoJ's]

I do know that it only cost my wife $60 to fill up her van last time, as opposed to $87 about 2 months ago.

Gas dropped 30% for you?

[Money$hit]

the economy is fine, so stfu all you fake economist assclowns.


look for the fed to raise rates sometime in the fall.

[Money$hit]

Asking someone to rate "the economy", is like asking a r3vvie to rate their E30 as a winter daily driver

Gtfo, you are a moron.

[Money$hit]

Hell it still must be a good economy since I am throwing cash at both of my e30's like I have a fistfull of Benjamin's at a strip club with no end in sight...




:pimp:

holla. i guess we're both in good shape.

[Jon325i]

Sorry for chiming in so late - the soup line today was much longer than I anticipated. So what are we talking about?

Jon

[Vedubin01]

Sorry for chiming in so late - the soup line today was much longer than I anticipated. So what are we talking about?

Jon

Did someone say soup, shit..... I have been waiting for my Government Cheese! It was to go out on the first along with my WIX checks. Guess the Holiday/Government screwed me out of eating again tonight.............

[StereoInstaller1]

Gtfo, you are a moron.

You need to watch who you talk shit at, kid.

Unless you are tired of being allowed on R3V, perhaps?

[DCColegrove]

...

This phenomenon should be good news to people like Mr. Colegrove.

True in a way...

It's been busy as hell at the shop. Over about the past month and a half we have been swamped with first time customers in addition to our long time customer cars rolling in needing attention.

I think this is due in part though to the fact that 3 independent shops, one specialty brake shop and a dealership just in our local area have gone under (tits up...out of business) in this same period.

[Money$hit]

Gtfo, you are a moron.

I appologize to all insulted parties for this comment, after reading it, its rediculous and makes no sense. I need to quit drinking and r3ving.


I dont honestly even remember posting that.

[Maluco]

I tend to live within my own sub-economy but judging by the people I know, the economy isn't that bad, as a matter a fact, their monies are increasing...

[uofom3]

better or worse than when? what are we comparing to?

better without a bubble market? yeah - good time for me and the new wife to buy a house on the cheap. 5 acres and 1400 square feet for $250k sounds good. Financing is harder though, but that will clear up eventually. We couldn't have bought a house like that around here 2 years ago, even with both of us having good jobs. the interest rates aren't too bad either, and I'm not going to get stuck with one of those retarded ARM's.

better with a lower stock market? yeah - my company's 401k matching just started, and I'm looking for a 25% pay raise this year. I get to start my retirement investments when the market is cheap (we all know SS isn't going to pay us back). I plan to max out my matching up to 10% - which is a pretty difficult return to beat. if I can scrounge up some cash after buying a new place, I'd like to start a brokerage account - maybe from the tax return I should get next year (the government *hates* it when you make a lot of money on overtime).

better with higher gas prices? sure - if you buy into the global warming scare. higher prices mean less demand for oil, meaning less carbon/pollution. pollution is bad, mkay? (too bad china and india don't feel the same way). and it's creating new markets for alternatives and forcing us to innovate. I carpool now, or telecommute - that's one less car on the road every day, less fuel used and it saves me money. plus my car can sit in the garage all week if I want to work on it or don't feel like driving it. it also means I can go on a sunday drive and enjoy myself without idiots in SUVs clogging the roads (well, not as many of them).

I think all of those things are solid improvements. I guess it's just your perspective that changes how you feel about it.

We had a really hot market for a good 5 year stretch in pretty much every industry that was relevant. I felt pretty much the same way I did during the dot-com boom/bust - it was a nice party but I knew it wasn't going to last forever. Kinda like now, everything is cheap on a relative scale - if you have the means, now's the time to start buying, because at these prices it's not going to last. :)

careful Nando... that's a long post and will not be read :)

Economy is better than it was. Housing will rally within the next 6-9 months. Bad news today about unemployment... but it doesn't wipe out the previous good news as far as overall trend.

Free markets work themselves out... you'll see it improve particularly as the price of oil continues to fall and reaches near $100.00.

[uofom3]

Gas dropped 30% for you?

107/149=.71812
1-.71812= .281 or 28.1%

So yes, almost a 30% drop in price.