Yeah, I can see at least two other concerns that could aggravate the credit crisis. Too many people have become dependent on their credit cards to support their standard of living. If too many people begin defaulting on there credit card debt, and the credit card companies begin pull in their horns on this kind of credit, that could deliver another big blow to the economy. Must retail store are dependent on their customer having those plastic cards for credit upon which to consume the stores goods and service.
Also, many people have used the equity in there homes upon which to borrow to maintain there standard of living, and this source of credit could dry up with many defaults already occurring as real estate values decline. President-elect Obama must be pretty powerful to have caused such an upheaval, and he has even taken office yet. LOL Regards, LelandJ Michael Madigan wrote: > Nope. > > Everybody thinks we're near the bottom which means we ain't > > ************************************************* > Barack Obama is not My President > > http://www.cafepress.com/rightwingmike > > > --- On Wed, 11/12/08, Leland F. Jackson, CPA <[EMAIL PROTECTED]> wrote: > > >> From: Leland F. Jackson, CPA <[EMAIL PROTECTED]> >> Subject: Re: [OT] Insurancegate >> To: "ProFox Email List" <profox@leafe.com> >> Date: Wednesday, November 12, 2008, 4:28 PM >> Yep, the DJIA closed at 8,282.66, down 411.30 point or down >> 4.73% for >> the day. The market will not start back up until everyone >> thinks the >> market will keep going down forever, so we are getting >> close to a bottom >> upon which the next great bull market will arise. >> Conversely, the >> market will never crash until it has reached a euphoric >> state where >> everybody think the market will keep going up forever. >> That part of the >> market; it exaggerate both the market high and the market >> low due to >> psychological fear or euphoria. The stock market is >> bipolar, or what >> used to be called a manic depressive. LOL >> >> Regards, >> >> LelandJ >> >> >> >> Michael Madigan wrote: >> >>> Goodbye Recession! >>> >>> Hello Depression! >>> >>> ************************************************* >>> Barack Obama is not My President >>> >>> http://www.cafepress.com/rightwingmike >>> >>> >>> --- On Wed, 11/12/08, Larry Miller >>> >> <[EMAIL PROTECTED]> wrote: >> >>> >>> >>>> From: Larry Miller >>>> >> <[EMAIL PROTECTED]> >> >>>> Subject: Re: [OT] Insurancegate >>>> To: "ProFox Email List" >>>> >> <profox@leafe.com> >> >>>> Date: Wednesday, November 12, 2008, 2:18 PM >>>> Hey, if the lefties understood economics, they >>>> >> wouldn't >> >>>> be lefties. >>>> >>>> Larry Miller >>>> >>>> >>>> ----- Original Message ----- >>>> From: Pete Theisen >>>> To: ProFox Email List >>>> Sent: Wed, 12 Nov 2008 18:32:09 +0000 (UTC) >>>> Subject: [OT] Insurancegate >>>> >>>> Hi Everybody! >>>> >>>> This will kill the recovery: >>>> >>>> >>>> >> http://hotair.com/archives/2008/11/12/get-ready-for-mandated-health-insurance/ >> >>>> -- >>>> Regards, >>>> >>>> Pete >>>> http://pete-theisen.com/ >>>> >>>> >>>> >>>> >>>> >>>> >>>> --- StripMime Report -- processed MIME parts --- >>>> multipart/alternative >>>> text/plain (text body -- kept) >>>> text/html >>>> --- >>>> >>>> _______________________________________________ >>>> Post Messages to: ProFox@leafe.com >>>> Subscription Maintenance: >>>> http://leafe.com/mailman/listinfo/profox >>>> OT-free version of this list: >>>> http://leafe.com/mailman/listinfo/profoxtech >>>> Searchable Archive: >>>> >> http://leafe.com/archives/search/profox >> >>>> This message: >>>> >>>> >> http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] >> >>>> ** All postings, unless explicitly stated >>>> >> otherwise, are >> >>>> the opinions of the author, and do not constitute >>>> >> legal or >> >>>> medical advice. This statement is added to the >>>> >> messages for >> >>>> those lawyers who are too stupid to see the >>>> >> obvious. >> >>>> >>>> >>> [excessive quoting removed by server] _______________________________________________ Post Messages to: ProFox@leafe.com Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
