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  • Investing In 2013: Remember 1977 [View article]
    Friends with money many times means 'Friends' who want to believe they have alot of money but typically alot of money = ALOT of credit card debt to make people believe you have 'Alot of money'.
    Oh as a real estate broker, I am sure you have noticed soaring rents across the board --- even outside the NYC metro area its tough to find a tiny one bedroom apartment for less than $1500 a month.. All these new apartment buildings going up in and around the NYC metro area and in Eastern Mass have 700 square foot one bedroom's that rent for over $2500 plus utilities and amenity fees but somehow soaring rents don't factor much into inflation
    Feb 27 09:20 PM | 3 Likes Like |Link to Comment
  • Investing In 2013: Remember 1977 [View article]
    Things were completely fucked up in the late 1970s. everything was that awful beige, orange, tangerine and dull yellow -- crime was soaring, I was only 2 then so don't remember much but everything seemed very dirty and polluted... not to mention that technology as we know it did not exist, credit cards were pretty much non existent and there was hardly the degree of consumerism (even by poor people ) as we see today -- now if you want something whether its a $250,000 college education or a $600,000 house you just go into debt for it.
    I can't see how 2013 resembles anything remotely to the 1970s except for the fact that you can listen to disco on internet radio or XM.
    Feb 27 09:18 PM | Likes Like |Link to Comment
  • Goldman says it's become more cautious on the economy over the near-term, noting that even a "modest" slowdown feels "more dangerous than normal." The firm cites some key factors: An end to GDP growth acceleration, earlier data strength that may have been weather-related and not based on any sustainable trend, and fiscal policy that's consolidating and monetary policy appears to have run its course.  [View news story]
    Of course the media is responsible for this more 'dangerous than normal' Seriously!!! Since when is 120K jobs (with the UE rate falling to 8.2%) a 'disaster' or disappointing as some news outlets are saying?? What does 'weather related' have to do with anything? Did the 'weather' put more money in peoples pocket to spend at the mall (especially on designer clothing) & other discretionary spending?? Sure, heating costs may have been lower solely due to lower usage but gasoline prices & food prices continue to increase which just seems to be shrugged off by most people (since revolving credit card usage is surging again while savings are plunging).
    Apr 9 09:24 PM | 1 Like Like |Link to Comment
  • The Elusive 2012 Recession: When Can We Expect It? [View article]
    Cut in half? are you serious?? sure doesn't seem that way with the stores as packed as they are and everyone owning the latest & greatest smartphone (which is replaced every 3-6 months )
    Mar 4 06:57 PM | 2 Likes Like |Link to Comment
  • The Elusive 2012 Recession: When Can We Expect It? [View article]
    I can't see any recession here in the NYC area or in New England. Stores are packed, rents are at record highs -- both cities are teaming with all these children of the affluent spending thousands every weekend, I also read & heard that120,000 jobs in Massachusetts remain unfilled because of the lack of qualified workers.
    Mar 4 06:56 PM | 2 Likes Like |Link to Comment
  • Holiday Sales Are Up? Don't Celebrate Just Yet [View article]
    I love when people mention returns. I love dealing with the attitude of some 19 year old min wage person who acts like I am taking money from her paycheck from returning something. I mean if it is accordance with the stores policy, return my money and don't give me attitude or the third degree
    Nov 30 12:27 AM | Likes Like |Link to Comment
  • Worst Thanksgiving Week Ever [View article]
    47% of people won't be paying taxes -- a large portion of those will be receiving EITC checks from the gov't as well. The younger generation that CNN & USATODAY is the main apologist for will continue to finance consumption on Student Loans which similar to HELOC's is borrowed to the max without much thought on how (or if) it will be paid back.
    Nov 24 12:47 AM | 2 Likes Like |Link to Comment
  • Worst Thanksgiving Week Ever [View article]
    Don't worry, the 'US consumer' will 'save the day' and continue spending on credit cards. Malls, Restaurants & Stores are packed and everyone is back to maxing out credit cards at the 'teaser rates' to finance frivolous consumption.
    Nov 24 12:43 AM | 1 Like Like |Link to Comment
  • Weak consumer demand and lack confidence in the U.S. government is what is preventing employers from hiring, says Mort Zuckerman. He figures the real unemployment rate is closer to 19%, and fears that in the months to come job creation could fall into negative territory as consumer confidence continues to deteriorate and businesses lose faith in any near-term recovery.  [View news story]
    I don't buy this 'weak consumer demand' argument. I was in the NYC area over the weekend and stores were packed. Target in Westchester County was picked clean of many items with very long lines. Most other stores are constantly jammed with customers.

    Also, car sales are surging. Can't get that 72 month loan with 0% down (most people buy new with 100% financing thru the dealers F&I department) if you are un or underemployed.
    The majority of the unemployed are the uneducated, minorities (despite gen Y being the most 'accepting' generation of diversity except when it comes to hiring I guess) and those whose work history just sucks for some reasno
    Oct 4 12:43 AM | 1 Like Like |Link to Comment
  • Auto Sales: Still Booming [View article]
    Sure but they are all being financed with 0% down loans for 60 - 72 months (even taxes, tags & MV fees are 'bundled' into the loan) for only 60- 72 months. I drive a 2008 Paid For (actually have the title something no one under the age of 35 has even seen) Honda Accord with just over 30,000 miles on it. I know it isn't a 2010 Acura TSX or a BMW X5 the kinds of vehicles that all my stuck up 20 something neighbors own (I live in a rental condo building 10 miles north of Boston where rents range from $1,600 - $4,000 a month) but they are likely on the 72 month payment plan
    Oct 4 12:32 AM | Likes Like |Link to Comment
  • Weighing The Week Ahead: How Likely Is A Recession? [View article]
    {{{Jeff, interesting tidbit I saw. An article claims that 1.5 - 2 million people leave their jobs voluntarily every month in th US, to go back to school, start a business, take care of family, etc.}}}

    Are these adults in their prime working age (between 25 - 55) because believe me you would have to be an IDIOT to do that. I mean really how will you explain the time off when you decide you want to go back to work?? I mean honestly, most employers don't look too positively upon people in this age group not working for any significant period of time (over 3 months). Recruiters in IT & Finance won't even talk to you..

    Also buying a business or self employment in the USA is a losing proposition. You pay for everything from paperclips to advertising -- on your own dime. You have to pay $1,000 or more a month for individual insurance, vision & dental aren't even offered to individuals
    Sep 26 12:20 AM | Likes Like |Link to Comment
  • The WSJ reports Treasury is considering eliminating some taxes on overseas profits of U.S. multinationals as part of a broader re-write of the corporate tax code also expected to include a significant reduction in the 35% tax rate and closing of some loopholes. However, with election season about to heat up, don't hold your breath waiting for enactment anytime soon.  [View news story]
    really?? what fantasy land do you live in?? Most major corporations 'help out' when there are emergencies?? sure as long you pay for it or have the right 'insurance'. A clinic that provides free medicines to the indigent?? How about actual preventive care & follow up without worrying about 'what insurance do you have' before they will even talk to you.. 09/11?? sure like Katrina good public relations they had to do that. You sound like a genuine corporate stooge or some limousine liberal that lives in some gated community in the suburbs or in some multi million dollar penthouse in the inner city
    Sep 10 11:08 PM | 1 Like Like |Link to Comment
  • President Obama's $450B jobs plan may wind up pushing us into recession rather than pulling us out, says John Carney. Following his logic, the crux of the plan is to have government spend more and tax less. However, if people fear increased government spending will result in higher taxes, they may wind up saving more than the government spends, in anticipation of the taxes - which could lead to economic contraction.  [View news story]
    There doesn't seem to be Anything resembling a recession (or unemployment) here in the Boston area or eastern MA. Rents are rising by 10% - 20% a year everywhere (if you can even find and get approved for an apartment). House prices are well over $500,000 everywhere east of Worcester. Stores are packed, it takes at least 2 hours to get anywhere during rush hour. Companies cannot find enough qualified workers (especially tech companies) for all the job openings they have -- I hear this on radio talk shows lately. Clearly the NYC metro area, CT, & most of MA never entered recession or have exited it a long while back
    Sep 10 12:03 PM | Likes Like |Link to Comment
  • Apple Girding For Big iPhone Sales [View article]
    If the Iphone 5 is sold by Sprint, will Sprint allow existing Customers to upgrade if they have already upgraded this year. I upgraded to the HTC EVO 4G 3D (the newest EVO) in July before it was announced that the Iphone 5 would also be sold through Sprint.
    Sep 9 10:42 AM | Likes Like |Link to Comment
  • Hurricane Irene may wash out back-to-school shopping on the retail reporting calendar's final day - tomorrow - for August sales. MKM Partners sees a "material impact to sales in the affected areas," but certain stores - think HD and LOW - are sure to benefit from the need for emergency supplies.  [View news story]
    No, purchases are just 'shifted' to online and before the storm. Ex. yesterday stores here in the Boston area were packed mostly with these rich college or 'just graduated and live with 3 roomates on a piddly $50,000 a year salary' college grads who are still able to spend thousands upon thousands of dollars (think credit cards and student loan money) on designer clothing & sneakers that run $140 + at Foot Locker & Olympia Sports.
    Don't think that consumer spending is slowing, stalling or dropping --- hardly but similar to the 1995-2007 period of torrid retail sales it is 90% credit card based
    Aug 27 10:09 PM | Likes Like |Link to Comment