Comments on: Consumers Batten Down the Hatches http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html Mon, 23 Nov 2009 02:08:55 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: DMD http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19733 DMD Mon, 06 Oct 2008 17:58:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19733 Hard to say about The Peninsula.<br/><br/>DINKS needing both jobs to barely make payments are likely going to suffer.<br/><br/>But there really is ALOT of wealth in SF.<br/><br/>So, we'll see what happens. Hard to say about The Peninsula.

DINKS needing both jobs to barely make payments are likely going to suffer.

But there really is ALOT of wealth in SF.

So, we’ll see what happens.

]]> By: Greg Byshenk http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19720 Greg Byshenk Mon, 06 Oct 2008 16:08:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19720 Regarding the question above: "In response to the first two comments, are you better off winning the 2008 Presidential election or losing it, given what looks to be in store for the economy?", I would submit that it depends on whether one thinks one has any solutions.<br/><br/>If one does, then it can be advantageous to be in office at a time of "crisis", because such enables action that would be difficult or impossible in "normal" times. Further, if the problems that exist are obvious to the public before one takes office, then one is likely to have at least a certain reservoir of good will as one tries to solve them. Regarding the question above: “In response to the first two comments, are you better off winning the 2008 Presidential election or losing it, given what looks to be in store for the economy?”, I would submit that it depends on whether one thinks one has any solutions.

If one does, then it can be advantageous to be in office at a time of “crisis”, because such enables action that would be difficult or impossible in “normal” times. Further, if the problems that exist are obvious to the public before one takes office, then one is likely to have at least a certain reservoir of good will as one tries to solve them.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19704 Anonymous Mon, 06 Oct 2008 14:37:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19704 The speed of the decline gives me great worry. Credit deflation is quickly slicing through the luxury consumer society and with it will go millions of jobs and thosands of small to medium business built upon leverage credit creation. The speed of the decline gives me great worry. Credit deflation is quickly slicing through the luxury consumer society and with it will go millions of jobs and thosands of small to medium business built upon leverage credit creation.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19691 Anonymous Mon, 06 Oct 2008 12:50:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19691 In response to the first two comments, are you better off winning the 2008 Presidential election or losing it, given what looks to be in store for the economy? <br/><br/>I'm a Republican and I don't want my party in power while this mess evolves. In response to the first two comments, are you better off winning the 2008 Presidential election or losing it, given what looks to be in store for the economy?

I’m a Republican and I don’t want my party in power while this mess evolves.

]]> By: Jojo http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19668 Jojo Mon, 06 Oct 2008 09:25:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19668 The San Francisco peninsula has, up to recently at least, escaped most of the carnage in the real estate market and job losses haven't been too bad.<br/><br/>However, in the last couple of weeks, I have noticed a significant increase in open house signs on corners in the 94030/94010 area codes. And this is October, which isn't usually when houses go on sale around here. <br/><br/>Something is up! I suspect that people who thought they were safe have now been caught up in this ongoing financial crisis. Around here, they said it would never happen, but SF Bay Area WEST seems to be joining the party.... The San Francisco peninsula has, up to recently at least, escaped most of the carnage in the real estate market and job losses haven’t been too bad.

However, in the last couple of weeks, I have noticed a significant increase in open house signs on corners in the 94030/94010 area codes. And this is October, which isn’t usually when houses go on sale around here.

Something is up! I suspect that people who thought they were safe have now been caught up in this ongoing financial crisis. Around here, they said it would never happen, but SF Bay Area WEST seems to be joining the party….

]]> By: russell1200 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19666 russell1200 Mon, 06 Oct 2008 09:17:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19666 In my little slice of mid-America, they may not be buying cars, but my neighbors still seem to be buying a lot of bling. Small scale home improvements seem popular, riding lawn mowers, and the latest - a Harley.<br/><br/>These generally coming from one income families with small children. On the plus side, we are not even remotely in McMansion territory, so we are are not house poor here.<br/><br/>The key factor seems to be how "safe" their job situation is. But given the random variables in any one persons employment situation even in the best of times, it is pretty risky behavior. In my little slice of mid-America, they may not be buying cars, but my neighbors still seem to be buying a lot of bling. Small scale home improvements seem popular, riding lawn mowers, and the latest – a Harley.

These generally coming from one income families with small children. On the plus side, we are not even remotely in McMansion territory, so we are are not house poor here.

The key factor seems to be how “safe” their job situation is. But given the random variables in any one persons employment situation even in the best of times, it is pretty risky behavior.

]]> By: foons http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19648 foons Mon, 06 Oct 2008 05:57:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19648 “People have lost their confidence. They have no buying power. They are losing their retirements, their vacation funds, and they are scared to commit to buying anything.”<br/><br/>As many times as I hear this, and I've heard it many times over the last 60 years, it never fails to astound me. <br/><br/>"They are losing their retirements, their vacation funds.<br/>They have no buying power."<br/><br/>OK.<br/><br/>"[T]hey are scared to commit to buying anything.<br/>People have lost their confidence."<br/><br/>What does this guy think this is, the Dr. F*@king Phil show? They've lost their money and their credit, not their "confidence". They're not scared to "commit". They've balanced the bank accounts and noticed that THEY DON'T HAVE THE MONEY. <br/><br/>It's not psychology. It's arithmetic. For Pete's sake!<br/><br/>carpingdemon “People have lost their confidence. They have no buying power. They are losing their retirements, their vacation funds, and they are scared to commit to buying anything.”

As many times as I hear this, and I’ve heard it many times over the last 60 years, it never fails to astound me.

“They are losing their retirements, their vacation funds.
They have no buying power.”

OK.

“[T]hey are scared to commit to buying anything.
People have lost their confidence.”

What does this guy think this is, the Dr. F*@king Phil show? They’ve lost their money and their credit, not their “confidence”. They’re not scared to “commit”. They’ve balanced the bank accounts and noticed that THEY DON’T HAVE THE MONEY.

It’s not psychology. It’s arithmetic. For Pete’s sake!

carpingdemon

]]> By: DG http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19646 DG Mon, 06 Oct 2008 05:47:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19646 With all the panic in the air: sounds like an intermediate bottom is in! With all the panic in the air: sounds like an intermediate bottom is in!

]]> By: Marsha Keeffer http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19645 Marsha Keeffer Mon, 06 Oct 2008 05:44:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19645 Unless Rove & Co. manage to disqualify many of the 1M+ voters who have lost their homes... Unless Rove & Co. manage to disqualify many of the 1M+ voters who have lost their homes…

]]> By: Francois http://www.nakedcapitalism.com/2008/10/consumers-batten-down-hatches.html#comment-19642 Francois Mon, 06 Oct 2008 05:11:00 +0000 http://www.nakedcapitalism.com/2008/10/consumers-batten-down-the-hatches/#comment-19642 Such dark economic news doesn't bode very well for the ambitions of Glacier Babe and McSame.<br/><br/>Karma can be a bitch. Such dark economic news doesn’t bode very well for the ambitions of Glacier Babe and McSame.

Karma can be a bitch.

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