Comments on: NJ: Recession until 2010

By: jvck vcgqdmr

jvck vcgqdmr — Mon, 21 Jul 2008 14:57:41 +0000

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By: David

David — Sat, 19 Jul 2008 21:38:47 +0000

How is the Real Estate market in Central Jersey, especially in Edison area? My dad wants to sell his townhome and move to south. He says he can wait for 6months to 1 year if the market is going to get any better.

By: James Boyer

James Boyer — Fri, 18 Jul 2008 21:39:25 +0000

Is is so bad here in Norther New Jersey that the cops are out trying to write 20 tickets a day each in a effort to bring in more tax money. No Really, they are writing way more tickets locally then I have seen in forever, and they don’t seem to care how many traffic problems they create by pulling people over on Morris Twp’s Madison Ave, or East Hanover Ave. They just let traffic back up forever as they exert their pound of flesh from the poor motorist.

By: njpatient

njpatient — Fri, 18 Jul 2008 04:57:17 +0000

427 sas

Sounds like you’ve been reading about thermodynamics.

By: skep-tic

skep-tic — Fri, 18 Jul 2008 04:14:58 +0000

unfortunately, real economic calamity is too distant of a memory for most to admit that it is possible. for example, whenever you see worst case scenario type analysis, it always excludes the great depression. why? it is obvious that this is the worst real estate downturn since the 1930s. There is clearly a relevant comparison to be made here, but almost no one is willing to make it. Unfortunately, the public figures in this country who do make these comparisons are generally somewhat kooky and bizarre, such as Ron Paul and Roubini. They are trotted out by the cheerleaders as a sideshow as if to imply that such massive calamity is delusional. It is not. The foreign press knows it. You will see it brought up by credible people now in the Financial Times. This is what I mean by the international community no longer buying the American script. We are on the verge of learning a hard lesson here but barely anyone is aware.

By: Cindy

Cindy — Fri, 18 Jul 2008 04:12:16 +0000

(429) “It is a very dangerous game to play right now because we as a nation are rapidly losing credibility.”

Truer words were never spoken…I just have to believe we have the intellectual power in this country to figure it out..

Night all..

By: Cindy

Cindy — Fri, 18 Jul 2008 04:02:25 +0000

(429) skep-tic AGAIN – I’m agreeing with you…

But -thanks to sites like this – people are talking…the “constiuents” are restless…(I think that is why we have seen so many meeting in DC as of late.) Mainstream media has Ron Paul on as an expert….Ah, I feel optimistic again…

By: skep-tic

skep-tic — Fri, 18 Jul 2008 03:55:54 +0000

Cindy– your guess is as good as mine. I suppose if everyone was straightforward and let the market function as it should, the mortgage market as we have known it in recent years would probably completely collapse. As a result, real estate prices would probably plunge far beyond any of their bubble gains. Institutions which hold a lot of MBS could fail. There is a ton of this stuff out there and the effects would be widespread. This would obviously be very painful and scary, but honestly right now I think our gov’t is courting dollar collapse, which would be even worse. I have been very pessimistic on real estate for going on 3 yrs now (since I discovered this blog), but I never imagined the bursting of the real estate bubble could have such wide reaching effects. It seems to me there is no easy way out at this point, which is why our gov’t seems intent on inflating us out of the problem as much as possible. It is a very dangerous game to play right now because we as a nation are rapidly losing credibility.

By: Cindy

Cindy — Fri, 18 Jul 2008 03:51:15 +0000

Thankx SAS

I hope you know that messes with the “optimist” part of me.

By: sas

sas — Fri, 18 Jul 2008 03:48:46 +0000

also blokes, wealth is neither created or destroyed, its just transferred.

The questions are just from where? to whom? and what is the trasferring agent?

SAS

By: sas

sas — Fri, 18 Jul 2008 03:46:32 +0000

also, for you state pension people, be alert, and keep your ears open to the words privitization.

review the crisis in Argentina. think it was in the early 90s.

SAS

By: sas

sas — Fri, 18 Jul 2008 03:44:09 +0000

I will tell you whats on tap…

The dollar will continue to decline, the people will beg for the govt & Fed reserve to “do something”, and thus a new currency will be formed. That new currency will be called “The Amero – North American Currency”. The currency of Canada, USA, and Mexico.

Sounds crazy.. sounds like a conspiracy theory, but when the sh*t hits the fan, and people have lost almost all purchasing power, the people will beg for it.

http://en.wikipedia.org/wiki/American_currency_union

SAS

By: Cindy

Cindy — Fri, 18 Jul 2008 03:40:40 +0000

(422) SAS

Why wouldn’t that woman let him finsh his sentences…He was answering my questions!

Like a heroin addict…”We won’t get better with another shot of inflation.”

Rein in spending
Rein in government

By: Cindy

Cindy — Fri, 18 Jul 2008 03:26:57 +0000

(421) skep-tic

I am an optimist..and a realist. I couldn’t agree more. (I have agreed alot with you lately.)

I’m just about 60 so I have seen some crap and yet on on we go. I guess what I am asking is really, what appropriate actions are there then instead of all of this mumbo jumbo (I don’t think we will be doing away with the fed as Ron Paul suggests.)

I have been harping on “raise the rates” since forever but now we have painted ourselves into such a corner.

If everyone REALLY took all of their write-downs – right now – what would happen?

By: sas

sas — Fri, 18 Jul 2008 03:21:08 +0000

“Ron Paul on Fox Business News”
http://tinyurl.com/6nhflw

SAS