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+--- Thread: Financial Shakeup this weekend (/showthread.php?tid=1090)
- Phokaioglaukos - 03-21-2008
Wellardmac wrote:
Quote:I'm with you on this Aaron - the money we have spent on Iraq could have been better spent elsewhere... the problem is that if we were not in Iraq I can pretty much guarantee that that it would not have been spent on the things that you listed, so it was a lose-lose situation.The money spent on Iraq was borrowed by the government, largely from those outside the US, thereby further weakening the dollar and creating debt for our progeny to repay. And we used to think the Republican party stood for fiscal restraint and a balanced budget!
- nplenzick - 03-21-2008
Every now and then I check out the RTR forum ( I was a member for 19 years) to see whats been going on. I find this thread interesting enough to add my two cents.
I've been self employed for the last 20 years. First as a building contractor and now as a national distributor for a company that sells motorcycle apparel. My friends, most of my family and even my accountant will agree that I have the ability to predict when the economy goes south and when it's on it's way to recovery. This recession we're in ( and we are in a recession) started this past October. The economy started heading south in May of 2006. My prediction is if we don't see some sort of recovery by June we're going to be in big trouble.....I'm talking really big trouble people. Something my generation ( I'm 55) has never seen and only heard tales about from their parents. Not doing track events will be the very least of your problems. It's all there for a catastrophe, the mortgage problems, ridiculously high energy bills ( diesel up 147% from last year), and a war that has no end especially if another Republican gets to be president.
I've just returned from Daytona where we were vendors for bike week at the speedway. Most if not all vendors I talked to were down 30-75% from last year and last year was nothing to rave about. People are now shutting their wallets and pocket books. People are scared. It's all well and good to let the fat cats burn from their blunders as CEO's with any help from government, who cares if their company's go bankrupt. They deserve it don't they? The problem is like the the family who buys a Mc mansion that they can barley afford when the times are good we all pay for it when the economy goes in the crappier. The only difference is that CEO who ruined the company still gets to keep his.
The problems in this country are deep seated. We took the wrong path when 7 1/2 years ago we elected GW and how he ever won re-election is one of the things that will remain a mystery to me. But for right now with this administration I think the Fed should do whatever it needs to do to get people spending again and get this economy headed in a better direction then it's going at the moment. At least it'll give the new administration a kick start and then hopefully a new path for a sustainable growth economy.
- Phokaioglaukos - 03-21-2008
Nick, come on back to the club!
There is no question that we are in a recession and that discretionary spending is deeply depressed. I agree that it will get worse before it gets better. One of my clients owns a company that serves the aftermarket racing and enthusiast automotive market. It's performance has fallen into the workout range with dramatically reduced cash flow. Basically, sales collapsed last fall and show no signs of recovery yet.
This will be a tough year.
- dmano - 03-21-2008
One can tell it is bad out there, when a forum about cars (Porsche's) is talking politics. When we should be talking car mods, how fast our car is and when we are hitting the track next.
Me I wont see the track for a while. I will be teching cars instead of driving.
- nplenzick - 03-21-2008
Phokaioglaukos wrote:
Quote:Nick, come on back to the club!Thanks for the offer but my love is two wheels not four at the moment. I was hoping to purchase something so I can start doing some two wheel track days this year but those plans are put on hold until I see the economy take a turn for the better. I do miss instructing though, had a lot of good times with the students I had!
There is no question that we are in a recession and that discretionary spending is deeply depressed. I agree that it will get worse before it gets better. One of my clients owns a company that serves the aftermarket racing and enthusiast automotive market. It's performance has fallen into the workout range with dramatically reduced cash flow. Basically, sales collapsed last fall and show no signs of recovery yet.
This will be a tough year.
- nplenzick - 03-21-2008
dmano wrote:
Quote:One can tell it is bad out there, when a forum about cars (Porsche's) is talking politics. When we should be talking car mods, how fast our car is and when we are hitting the track next.The real trickle down effect. You don't do track events, so there's no need to purchase tires, brakes, etc. This will hurt some supplier!
Me I wont see the track for a while. I will be teching cars instead of driving.
- ccm911 - 03-21-2008
All right guys, time for another “Mahalick Accounting Session�?.
If the Iraq war, does in fact cost Three Trillion dollars.
What is three trillion? 3,000,000,000,000.00 is the numeric expression. I hope I am right, it is 12 zeros, correct?
OR
- 50,000,000(Fifty Million!!!) new Porsche Boxsters[/*]
- $12,000 given to 250 million folks in America(stick that $600 up your ass GW)![/*]
- 20,000,000 homes at $150,000 per for needy Americans.
I’d go on, but this is making me sick to my stomache!!!!
- AMoore - 03-21-2008
ccm911 wrote:
Quote:All right guys, time for another “Mahalick Accounting Session�?.[/*]
If the Iraq war, does in fact cost Three Trillion dollars.
What is three trillion? 3,000,000,000,000.00 is the numeric expression. I hope I am right, it is 12 zeros, correct?
OR
- 50,000,000(Fifty Million!!!) new Porsche Boxsters [/*]
- $12,000 given to 250 million folks in America(stick that $600 up your ass GW)! [/*]
- 20,000,000 homes at $150,000 per for needy Americans.
I’d go on, but this is making me sick to my stomache!!!!
Well said!
Just so people understand, the $3 Trillion includes interest paid on the 40% borrowed for the war, and estimates for taking care of disabled soldiers returning.
- dmano - 03-21-2008
Maybe if we are really lucky the people we borowed the 40% from might go out of business of die. That would safe us 1.2 trillion if my math is correct
- dmano - 03-21-2008
Can we hire the Italians to do a hit