Mainecat Posted August 14, 2019 Share Posted August 14, 2019 Trump says things are great the Chinese are paying the US billions.... MAGA MELTDOWN in Fox Business "comments" section after reporting on "recession indicator" Trump supporters freak out at Fox Business after it reports that a top ‘recession indicator’ is ‘flashing red’ The inversion of the U.S. Treasury yield curve on Wednesday sparked fresh fears of a coming recession in the United States — and even President Donald Trump’s favorite business network reported on it. An article by Fox Business’ Jonathan Garber features the headline “Recession indicator with perfect track record flashing red,” and it contains plenty of unwelcome news for the president as he prepares to head into a tough reelection fight. “The yield curve is blaring a recession warning,” Garber writes. “The spread between the U.S. 2-year and 10-year yields on Wednesday turned negative for the first time since 2007. Such a development has occurred ahead of each and every U.S. recession of the last 50 years, sometimes leading by as much as 24 months.” Needless to say, this news did not sit well with the Trump fans in Fox Business’s comments section. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 14, 2019 Share Posted August 14, 2019 “Raw Story” has their fingers on the pulse of emotions on the internet. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted August 14, 2019 Share Posted August 14, 2019 Anyone who is not preparing for the looming recession is an idiot. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted August 14, 2019 Share Posted August 14, 2019 5 minutes ago, AKIQPilot said: Anyone who is not preparing for the looming recession is an idiot. The banks didn't prepare for the last one and they were rewarded handsomely. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 14, 2019 Share Posted August 14, 2019 6 minutes ago, snoughnut said: The banks didn't prepare for the last one and they were rewarded handsomely. And Boy Howdy!!!!! Those big banks took their bailouts, bought up smaller banks then, the Obama admin put in place legislation that hindered the smaller banks being able to compete with the larger ones. I mean... they fucking rolled that negro dummy and he didn’t even know it and couldn’t fix it once what was happening came to his doorstep. Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted August 14, 2019 Share Posted August 14, 2019 49 minutes ago, AKIQPilot said: Anyone who is not preparing for the looming recession is an idiot. When is it kicking in? Neal Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted August 14, 2019 Gold Member Share Posted August 14, 2019 Wow, the comments section imploded. This could be serious Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted August 14, 2019 Share Posted August 14, 2019 6 minutes ago, NaturallyAspirated said: When is it kicking in? Neal Within the next 12-18 months is my expectation. Quote Link to comment Share on other sites More sharing options...
Woodtick Posted August 14, 2019 Share Posted August 14, 2019 21 minutes ago, AKIQPilot said: Within the next 12-18 months is my expectation. I agree. Not real-estate this time. Auto/truck loans. All of these big toys, boats, RVs, SXS, huge vacations. I bet I’ve driven 6000 miles this summer,between work,moving my son to Colorado,and vacations. Nothing but baller vehicles pulling baller toys. Dealerships in my area are offering 0% for 7 years on some of these toys. The RVs and boats,10 to 20 year loans. People just can’t help themselves,when it comes to spending. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 14, 2019 Author Share Posted August 14, 2019 (edited) 1 minute ago, Woodtick said: I agree. Not real-estate this time. Auto/truck loans. All of these big toys, boats, RVs, SXS, huge vacations. I bet I’ve driven 6000 miles this summer,between work,moving my son to Colorado,and vacations. Nothing but baller vehicles pulling baller toys. Dealerships in my area are offering 0% for 7 years on some of these toys. The RVs and boats,10 to 20 year loans. People just can’t help themselves,when it comes to spending. If they default on their 60k toys they default on their home. Edited August 14, 2019 by Mainecat Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 14, 2019 Share Posted August 14, 2019 1 minute ago, Woodtick said: I agree. Not real-estate this time. Auto/truck loans. All of these big toys, boats, RVs, SXS, huge vacations. I bet I’ve driven 6000 miles this summer,between work,moving my son to Colorado,and vacations. Nothing but baller vehicles pulling baller toys. Dealerships in my area are offering 0% for 7 years on some of these toys. The RVs and boats,10 to 20 year loans. People just can’t help themselves,when it comes to spending. Auto loans are peanuts in the bigger scope of global debt. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 14, 2019 Share Posted August 14, 2019 1 minute ago, Mainecat said: If they default on their 60k toys they default on their home. No they don’t you fucking idiot. Toys and extra shit go first.. You know what....nevermind. You are just fucking stupid. 1 Quote Link to comment Share on other sites More sharing options...
Woodtick Posted August 14, 2019 Share Posted August 14, 2019 1 minute ago, Mainecat said: If they default on their 60k toys they default on their home. If you are referring to the RVs, no try more like 250k. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 14, 2019 Author Share Posted August 14, 2019 1 minute ago, Woodtick said: If you are referring to the RVs, no try more like 250k. Usually financed on home equity. Trumps losing FOX Quote Link to comment Share on other sites More sharing options...
Woodtick Posted August 14, 2019 Share Posted August 14, 2019 2 minutes ago, Zambroski said: No they don’t you fucking idiot. Toys and extra shit go first.. You know what....nevermind. You are just fucking stupid. It’s funny when people say nobody can afford to snowmobile anymore. Yet there is a 20k SXS in everyone’s front yard in the north woods? Quote Link to comment Share on other sites More sharing options...
Woodtick Posted August 14, 2019 Share Posted August 14, 2019 Just now, Mainecat said: Usually financed on home equity. Trumps losing FOX No! Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 14, 2019 Author Share Posted August 14, 2019 1 minute ago, Woodtick said: It’s funny when people say nobody can afford to snowmobile anymore. Yet there is a 20k SXS in everyone’s front yard in the north woods? Not mine. I have been through downturns many times. It’s the younger Trumpers here who will suffer. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 14, 2019 Share Posted August 14, 2019 1 minute ago, Woodtick said: It’s funny when people say nobody can afford to snowmobile anymore. Yet there is a 20k SXS in everyone’s front yard in the north woods? Everyone I know that got out because it “cost too much” spent their time on a bar stool frittering through their wallet. 1 minute ago, Woodtick said: No! It’s like he’s literally a child. Amazing. Quote Link to comment Share on other sites More sharing options...
Woodtick Posted August 14, 2019 Share Posted August 14, 2019 3 minutes ago, Mainecat said: Not mine. I have been through downturns many times. It’s the younger Trumpers here who will suffer. 4 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted August 14, 2019 Platinum Contributing Member Share Posted August 14, 2019 Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted August 14, 2019 Share Posted August 14, 2019 30 minutes ago, Woodtick said: I agree. Not real-estate this time. Auto/truck loans. All of these big toys, boats, RVs, SXS, huge vacations. I bet I’ve driven 6000 miles this summer,between work,moving my son to Colorado,and vacations. Nothing but baller vehicles pulling baller toys. Dealerships in my area are offering 0% for 7 years on some of these toys. The RVs and boats,10 to 20 year loans. People just can’t help themselves,when it comes to spending. Year on Year shipments of RV’s to dealers across the country is down over 20%. RV lots across the country are packed to the gills with new units stacked like cordwood waiting for some sucker willing to finance one for 15+ years. https://www.rvia.org/news-insights/rv-shipments-june-2019?utm_source=RVLifestyle&utm_campaign=4439872a06-EMAIL_CAMPAIGN_2019_8_5_COPY_01&utm_medium=email&utm_term=0_7a885efcc5-4439872a06-241799693&mc_cid=4439872a06&mc_eid=21da78b217 The same thing is happening to the marine industry and marine dealers across the country. There is a looming economic meltdown on the horizon. Its well past time to start preparing. 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted August 14, 2019 Share Posted August 14, 2019 39 minutes ago, Mainecat said: If they default on their 60k toys they default on their home. Ah no that's never been the case. In the 08 recession some chose their vehicles over houses but the car gets you to and from work so for many was more important but people walk quickly from toy loans while trying to hang onto primary residences Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted August 14, 2019 Platinum Contributing Member Share Posted August 14, 2019 2 minutes ago, Angry ginger said: Ah no that's never been the case. In the 08 recession some chose their vehicles over houses but the car gets you to and from work so for many was more important but people walk quickly from toy loans while trying to hang onto primary residences First to go is secondary homes. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted August 14, 2019 Share Posted August 14, 2019 1 minute ago, steve from amherst said: First to go is secondary homes. Non cash flowing investment property (speculative re) then second homes. TBH no idea why there's not an upcharge on second homes like there is on invesment and multifamily primary residences. Quote Link to comment Share on other sites More sharing options...
Woodtick Posted August 14, 2019 Share Posted August 14, 2019 14 minutes ago, AKIQPilot said: Year on Year shipments of RV’s to dealers across the country is down over 20%. RV lots across the country are packed to the gills with new units stacked like cordwood waiting for some sucker willing to finance one for 15+ years. https://www.rvia.org/news-insights/rv-shipments-june-2019?utm_source=RVLifestyle&utm_campaign=4439872a06-EMAIL_CAMPAIGN_2019_8_5_COPY_01&utm_medium=email&utm_term=0_7a885efcc5-4439872a06-241799693&mc_cid=4439872a06&mc_eid=21da78b217 The same thing is happening to the marine industry and marine dealers across the country. There is a looming economic meltdown on the horizon. Its well past time to start preparing. The amount of triple axle fifth wheels ,being pulled by Top model 3500s , is astounding. Very few can pay cash for that set up, but they are all over every highway I’ve been on? 15 year loans on 80k pontoon boats. In 15 years,that boat will be lucky to fetch 10k. What a fucking ass whooping. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.