Bernanke says 2008 outlook worse

uscitizen

uscitizen

Villified User
Now I know Topspin turned down Bernanke's job but here goes anyway.


Bernanke says 2008 outlook worse

Mr Bernanke said the Fed would be prepared to act decisively
Federal Reserve chief Ben Bernanke has said that the outlook for the US economy in 2008 has worsened.

His comments in Washington come after leading investment banks warned that the US was heading for a recession.

~

The US is facing the twin threat of how to tackle a slowing housing market and lower consumer spending while at the same time addressing inflation as the rising oil price pushes energy prices up.

Earlier this week, Merrill Lynch controversially said the US had already entered a recession, while Goldman Sachs has also suggested it is heading in that direction.

http://news.bbc.co.uk/2/hi/business/7181922.stm
 
i think it will happen in Q2-Q3 based on past 2 weeks of data. I dont see it happening in Q1.
 
every time u refinance u got to start at beginning of bell curve amortization schedule again. finally im to year 5 of a 15year mortgage and im paying way more principle.
 
Chapdog said:
every time u refinance u got to start at beginning of bell curve amortization schedule again. finally im to year 5 of a 15year mortgage and im paying way more principle.
Click to expand...

that must be nice.

Our mortgage is like $1,700 and of that like $200 goes to principal
 
Chapdog said:
mine is $2100 plus like $380 for prop tax per month. $900/2100 goes towards principle. soon i will hit 50%.
Click to expand...

Pfft......$380 for property taxes? That's practically free. Talk to me when you're paying $600 a month.
 
Bernanke is pissing me off. If he had any leadership capability, he would have come out and dropped rates today. What is he waiting for? An official Fed meeting? Just do it already. The sooner you drop rates, the sooner the lower rates can begin to work their way into the economy.

He should have slashed rates by a point. TODAY. But no... he will wait till the end of the month and then cut by 50bps. Then the journalists posing as business/economic gurus will state how bold an action it was for him to cut 50 rather than 25.
 
LadyT said:
Pfft......$380 for property taxes? That's practically free. Talk to me when you're paying $600 a month.
Click to expand...

i chose MA even tho im CT native because of prop taxes. i live on CT border. Could move my house like 2miles south and pay 2x in prop tax.

My 4500 tax bill was not easy to get either. It kept going up because of new school and re-appraisals.. and so on was up to 5800 at one point. i abated. got denied.. so then i got list of prop tax on all the selectman's and town officials houses and showed how disproportionate they were to mine and other new residents. Abatement was granted in exchange for keeping hush. Learn the game!!!
 
LadyT said:
how many square feet?
Click to expand...

He lives in San Francisco. Don’t’ encourage him in another one of his pity me fests. He’s a conservative who moved onto the most liberal, and desirable real estate in the nation. That’s not subjective. The market decided! Screw him, let him pay out his nose!
 
You must log in or register to reply here.
Back
Top