Hang on to your hat, GDP -6.2%

[TexasDevilDog]

WASHINGTON (AP) -- The economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession.

http://finance.yahoo.com/news/Economy-shrinks-even-more-apf-14491192.html;_ylt=AiS8v.WzoAIt4Og5s.6evtO7YWsA

[bullet]

I think we need to ask al how this fits into his theory of debt is good as long as gdp is rising.

:scratchchin:

[TexasDevilDog]

I think we need to ask al how this fits into his theory of debt is good as long as gdp is rising.

:scratchchin:


I agree. The mountain of debt as a ratio to the economy is growing even faster now that the economy is shrinking. Means everyone as a whole, will need to pay more to pay down the debt while making less.

[FreightTrain]

Looks like freight might have bottomed out last week. Numbers are still down year over year, but rail traffic was up almost 7% from last week. Its a start and it will be interesting to see if they can add to those numbers in the coming weeks. One of the yards that I work out of had 10 miles worth of Auto Rack cars sitting in storage since late December. Last week they put everyone of those cars back in service shipping new cars. Historically Jan. and Feb. are always the slowest months in the transportation industry so it's going to be interesting to see what the spring brings. Granted I don't think we will be surpassing early 2008 shipping numbers, but with business up 7% in one week we are definately on the right track.

[Sean88gt]

I agree. The mountain of debt as a ratio to the economy is growing even faster now that the economy is shrinking. Means everyone as a whole, will need to pay more to pay down the debt while making less.

It means a lot of debt is going to go unpaid. And as the 'toxic assets' of home loans settle the credit card crisis is going to hit full muthafuckin effizzect.

People are transitioning over to survival mode and making sure the Sears card is paid on time will become less important.

[AL P]

People been paying off debt like fucking crazy for 9 months, you fools.

[mikeb]

Read in the paper today that new car sales have bottomed out, and they are hoping for an increase soon.

[thesource]

Just another day in paradise . Uncle Obama is going to save us all !!!

[AL P]

Read in the paper today that new car sales have bottomed out, and they are hoping for an increase soon.

Used car sales are supposedly up.

[67camino]

Once the main stream media says its getting better then it will be getting better. :smashfreakB:

[FreightTrain]

Used car sales are supposedly up.

A friend of mine is the used car manager for a large Ford Dealership and he claims they can't keep good used cars in stock. He said he's sending guys to every auction within 100 miles. He said Used Cars and service are the only things keeping his Dealership in the Black.

[AL P]

A friend of mine is the used car manager for a large Ford Dealership and he claims they can't keep good used cars in stock. He said he's sending guys to every auction within 100 miles. He said Used Cars and service are the only things keeping his Dealership in the Black.


Same thing I am hearing. I got a high school pal who is a service manager out at Classic in Granbury and another who works at a local Ford stealership.

Keep us informed on the rail situation, that is interesting to hear.

[TexasDevilDog]

People been paying off debt like fucking crazy for 9 months, you fools.

Paying off debts is a good thing for people and I hope that it continues. A lack of over spending will surely reduce any recovery that happens.

[jyro]

Paying off debts is a good thing for people and I hope that it continues. A lack of over spending will surely reduce any recovery that happens.

this must be engineer logic, you'll fit right in at NASA. So is this good or bad?

[kangol]

Paying off debts is a good thing for people and I hope that it continues. A lack of over spending will surely reduce any recovery that happens.

Too much classes!

[Fox466]

Too much classes!


Chuckling out loud over here. Wife is looking at me like what now...

[Pro88LX]

Used car sales are supposedly up.

way up. my store is usually 2.5 to 1 new vs used. now its 1 to 1 maybe even a slight edge to used.

[TexasDevilDog]

A lack of over spending and over consumption, which over consumption was the way of Americans lived for years, and returning to spending levels of only what is earned will reduce economic activity from prior levels.

Sorry that the concept is too much for some. I forgot that some people went to school just to pass not to become scholarly.

[Bubbaearl]

do any of you remember life before credit cards ?

[White trash wagon]

do any of you remember life before credit cards ?

I've never lived the "credit card" lifestyle. I only buy what I have the money for, which until about a year ago... made me out of step with the masses.

[jyro]

A lack of over spending will surely reduce any recovery that happens.

go buy more than we can afford to make the recovery better?

Is this what you ment to say?
please explain