Reggie Talks about Chapter 11

[Ratickle]

Observing the public opinion polls of late, and what seems to be an admonishment of the messiah's directionless fumblings, I retain hope.

Well, cheer us all up then. My guess, as long as we continue to allow politicians to lie during campaigns, promise to "give" other peoples money away to those who have done nothing to earn it, and use their political office to make themselves rich no matter what laws they break, there will be no improvement.

Why will a check not go out to every voter who pays zero in taxes a short time before the next two elections as part of the "stimulous" package? You don't think that is already in the plans?????

 

[cigdaze]

So be it. None of that pleases me, frankly I think all those scumbags should be in prison.

It's not often I'm optimistic about current affairs, Washington gives me nothing to be positive about, but when it comes to the personal financial affairs of folks these days at least it can be said that it's going to be difficult for one to default when one who has the propensity of defaulting can no longer get a loan.

I was primarily responding to Rich's depression comments - The toilet flush is inevitable. Sometimes a cleansing is exactly what we need to come out the other side with renewed strengths.

 

[T2x]

So be it. None of that pleases me, frankly I think all those scumbags should be in prison.

It's not often I'm optimistic about current affairs, Washington gives me nothing to be positive about, but when it comes to the personal financial affairs of folks these days at least it can be said that it's going to be difficult for one to default when one who has the propensity of defaulting can no longer get a loan.

I was primarily responding to Rich's depression comments - The toilet flush is inevitable. Sometimes a cleansing is exactly what we need to come out the other side with renewed strengths.

Agreed...and that was my point... However my greatest fear is not that times will be tough for a while and people will learn valuable lessons. It is that when common sense finally does come back in style, our liberties to use it as individuals may have been stripped away and carted off to DC....... or Moscow...... or the UN building....or (perish the thought)UC Berkley.

T2x

 

[fund razor]

Agreed...and that was my point... However my greatest fear is not that times will be tough for a while and people will learn valuable lessons. It is that when common sense finally does come back in style, our liberties to use it as individuals may have been stripped away and carted off to DC....... or Moscow...... or the UN building....or (perish the thought)UC Berkley.

T2x

I fear that also. Which is why I am about to become a conservative "community organizer."

But what really scares me are the incentives given to the unproductive to breed over the last forty years or so.... while the productive footed the bill.
Fast forward 40 years and we have a populace that can reproduce but not produce, and they expect to be provided for by the state.

Btw... Berkley is less capitalist than Moscow. I'll take moscow.

 

[GENERAL LEE]

This inherently bears a negative connotation more often than not, however, I am beginning to adopt a more positive outlook on today's circumstances.

Well at least someone in this thread is looking at the positive recovery thus far. :USA:

All this "doomsday" talk of even deeper depressions, and no more fun for anyone, are getting so tired. No one cares what it was like in the 1800's, or whenever some people would like to reference in hopes that no one will debate such a ridiculous, irrelevant theory.

There are so many ways to insure a companies bottom line in todays economy that weren't available as little as 20 years ago. It's up to the CEO or CFO to participate in those methods however. The ones that didn't, are getting bitten now.

The facts, are that some companies & consumers out there got ahead of themselves, and are now being forced to trim back. This is ALWAYS happening. It just happens to be a familiar name in the hobby we all share an interest in, and for some reason, a few seem to think it's the barometer of what the entire nations' state is. I'm sorry to disappoint those that are waiting to buy a brand new Feadship for $5k, it's NOT going to get "SO much worse" before it gets better. Some companies may have to continue to get back to realistic levels, but by no means is the industry going to become extinct. No, Joe Sixpack may not be able to go finance a new powerboat of his choice for the rest of his life, and shouldn't be able to anyway.

The exchange continues to creep back up quarter by quarter, and closer & closer to being at 10,000 again... Try paying attention to the actual areas of the economy that matter in the big picture. Just because people aren't buying as many Fountains, or other high priced powerboats right now, does not mean the world is plunging further into the stone age. High priced toys are the first thing people cut back on, and the last thing to recover in any difficult times. This is not a unique point, it has always been that way.

Read what Reggie said, it's all right there:

"Fountain currently has about 40 employees, though that will be down to about 12 by next week. Just three years ago, when Fountain did $79 million in business, the company had about 450 employees."

"Fountain said his biggest mistake over the years was not putting aside money "for a rainy day," but instead reinvesting it in the company."

Again, a little ahead of themselves, and needing to trim back for awhile. The trim is usually ALWAYS more of a buzz cut in the beginning, which will grow in time.

 

[wstultz]

"Idiocracy" Watch it. It is a horrible movie but it is scary at how true it is becoming.

 

[cigdaze]

Since the white house is all wee weed up right now, a memorable quote from that movie resounds in my mind:

"Sht. I know sht's bad right now, with all that starving bullsht, and the dust storms, and we are running out of french fries and burrito coverings. But I got a solution."
-President Camacho

 

[T2x]

The exchange continues to creep back up quarter by quarter, and closer & closer to being at 10,000 again... Try paying attention to the actual areas of the economy that matter in the big picture. Just because people aren't buying as many Fountains, or other high priced powerboats right now, does not mean the world is plunging further into the stone age. High priced toys are the first thing people cut back on, and the last thing to recover in any difficult times. This is not a unique point, it has always been that way. [\QUOTE]


I really wish you were right....but...unemployment continues to climb and most industry is well below even passable business levels. I am in the freight business...and there's no freight, even after numerous bankruptcies and reductions in capacity. Freight by the way is the "goods" part in goods and services...the basis for commerce. Wall street is looking at other investment firms, ignoring deficit spending and believing subverted jobless numbers (unemployment claims are dropping because many people have gone off unemployment and on to straight welfare). Wall street is also bolstered by weekly 401 K investments which sends a steady stream of new sucker cash into the market and forces up already over valued stocks. Retail sales are a shambles, home sales ticked up supported by a first time buyers bribe...er credit...and durable good sales was boosted by a 3 billion dollar "cash for clunkers" fiasco. We are about to make the biggest single mistake in political history with a health care plan that is right out of the USSR...with throngs of taxpayers ready to lynch their congressional representatives as a result......and you want to "look on the bright side".

I may be old but all that means is I have a longer time span to compare to and I can assure you that I have never seen a set of circumstances so programmed for economic ruin as the gun barrel we are currently looking down.

If I am wrong I will gladly admit it in the future........ ....and my heart hopes I have to...but for now my head is looking for a helmet.

T2x........in all humility