Is the economy really in a funk???

[BoomerJack]

It doesn't seem to be for some folks. At least according to this item.

http://www.azcentral.com/business/consumer/articles/2010/09/16/20100916wealthy-step-up-purchases-ultra-luxury-cars.html

[soonerscuba]

It doesn't seem to be for some folks. At least according to this item.

http://www.azcentral.com/business/consumer/articles/2010/09/16/20100916wealthy-step-up-purchases-ultra-luxury-cars.html I would be curious to see what is happening in the more aspirational market of upper end cars, the Porsche, Corvette, Mercedes of the world. There is such a small market for $300k cars that it seems it wouldn't be that much difference year to year. I would be curious abou the $50-90K range, my guess is that it's pretty bleak.

[soonerbrat]

my economy is :mad:

[hipsterdoofus]

Greedy rich people! Lets hate on them for being successful!

[tommieharris91]

"In a funk" describes the current state of the economy a lot better than "recession."

[The]

rek3g8znpOg

God I hope so...:texan:

[C&CDean]

Me and Bruce's ain't.

[Mobius]

"In a funk" describes the current state of the economy a lot better than "recession."

Agreed, better word. Uncertainty is the real issue here; be it taxes, regulations, etc. Unemployment isn't going to improve until people/companies feel confident in the environment. Same goes for the market and housing.

[OUthunder]

I think it has hit Oklahoma later than the rest of the USA. I think you can always tell how the economy is by the traffic at restaurants on the weekend. I walked right into an Olive Garden with the kids on a Friday night last week. (Yes, I know the place sucks but my daughter turned nine and she loves the place.)

Two years ago I would have waited at least 30 minutes. Same with a few others around here.

[pphilfran]

I would be curious to see what is happening in the more aspirational market of upper end cars, the Porsche, Corvette, Mercedes of the world. There is such a small market for $300k cars that it seems it wouldn't be that much difference year to year. I would be curious abou the $50-90K range, my guess is that it's pretty bleak.


Actually they are doing pretty well..

year on year

Porsche up 23%
Maserati up 43%
MB up 15%
Ferrari up 7%

All passenger cars up 5%

Clink on New Vehicle Sales

http://www.motorintelligence.com/m_frameset.html

[Theskipster]

Oklahoma wasn't hit near as hard as most areas because of the energy sector and the fact that Oklahoma's housing prices never really got out of control. And the stimulus spending has kept things more stable than they would have been. What should concern people is that all the stimulus spending will have to be repaid. And if it isn't repaid from currency from an improved economy, it will be repaid with inflation.

I think it will be repaid with inflation.

[GKeeper316]

Oklahoma wasn't hit near as hard as most areas because of the energy sector and the fact that Oklahoma's housing prices never really got out of control. And the stimulus spending has kept things more stable than they would have been. What should concern people is that all the stimulus spending will have to be repaid. And if it isn't repaid from currency from an improved economy, it will be repaid with inflation.

I think it will be repaid with inflation.

inflation is built into the fractional reserve system used by most banks in the world.



edit*

i should say its more the intended consequence of the fractional reserve system.

[Theskipster]

I would say that this situation is not a part of the intended consequence of the fractional reserve system. Now we have a stagnant economy with a very large increase in the money supply. If the large increase in the money supply isn't paid back in currency so the money supply is decreased, the inflation will outpace the economy and will therefore be a large burden on all but the rich.

[Blue]

Ol Karl at Market Ticker seems to think so. He's sounding alarms.

http://market-ticker.org/akcs-www?blog=Market-Ticker

[GKeeper316]

as long as banks are allowed to apply interest to loan money that wasn't thiers to begin with, there will always be inflation.

[NickDangerThirdEye]

as long as banks are allowed to apply interest to loan money that wasn't thiers to begin with, there will always be inflation.

How about zero interest rate from the Fed to the member banks?

[JCBoomer]

Ol Karl at Market Ticker seems to think so. He's sounding alarms.

http://market-ticker.org/akcs-www?blog=Market-TickerGreat site that I read daily. Scares the crap outta me, though.

[Scott D]

not to mention as long as 10% of the population has control of 70% of the money...yeah, it won't nearly affect them as much as the other 90%

[GottaHavePride]

Economy in a funk?

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