35 replies to this topic

[James Quillian]

I said that I had been looking at property in Odessa, Texas but didn't see any point in continuing if it was impossible to get lending. I was quickly assured that getting a mortgage loan was not a lot more difficult than usual and to drop by anytime. I have at least 6 major credit cards and they are all offering me special savings on balance transfers at super low rates. I made at least 5 credit card purchases today, some on line and some in town. So, I guess there is not a credit crisis. I have been looking for hard evidence of a credit crisis but I haven't seen any. James

[mss]

So, I guess there is not a credit crisis.

I have been looking for hard evidence of a credit crisis but I haven't seen any.

James

I can't find any either. IMO just media pumping fear before election.

As far as bad economy, went to eat out last night, waited 30 min for seat at APPLEBY'S and the mall was packed and all the local High Schools were playing their Friday night games at home. Traffic was a nightmare.
Gasoline here is now down to $3.41 in some stations and we still have short supply.

[AChartist]

There is no end to the lying pigs. 10% of subprime mortgages didnt do it, credit is available to us. Why dont they just say on their four TV networks sharing the same lying boards of directors, that the derivatives are 50x the annual GDP and are worthless and they will selling anything and everything, after they are properly naked short, but you should not sell your 401k, and oh, keep shopping. Freakin pigs and go ahead delete me, unlike the moderators I didnt say who the pigs are

Edited by AChartist, 11 October 2008 - 04:25 PM.

[atlasshrugged]

resales in vegas are up 180% from this time last year....somebody is getting loans!!!

[ed rader]

okay. let's say there is no credit crisis here or abroad. just why exactly do you figure we are being lied to ?

http://news.yahoo.co...us_financial3_4

ed rader

Edited by ed rader, 11 October 2008 - 04:33 PM.

[colours]

I've received 2 credit card offers in the last two days . I also thought that they would have ceased. The best one offers a $30,000 credit line with free transfer and 0% APR until January 2010 . Others I have talked to have also received similar offers .Pretty strange , indeed ( especially if there is a " credit crunch ").

[James Quillian]

okay. let's say there is no credit crisis here or abroad. just why exactly do you figure we are being lied to ?

ed rader

Ed
You tell us. I'd like to hear your take. The record for two straight weeks in M1 indicates that everyone is lending with both hands. I can be taught. All I need are a few facts.
With respect to the 90 billion or so increase in M1 during the last two reporting periods, I suppose it could be the sum of two mammoth sized deposits by the fed and its sitting in dealer accounts unlent.
Unless that is the case, M1 cannot increase unless money is being loaned. It is not possible mathematically

James

[mike123]

I was driving back from work and saw a big sign in front of a building that said "We have no credit crunch here. We can serve all your borrowing needs. Northwest Credit Union".

[atlasshrugged]

okay. let's say there is no credit crisis here or abroad. just why exactly do you figure we are being lied to ?

ed rader

Ed
You tell us. I'd like to hear your take. The record for two straight weeks in M1 indicates that everyone is lending with both hands. I can be taught. All I need are a few facts.
With respect to the 90 billion or so increase in M1 during the last two reporting periods, I suppose it could be the sum of two mammoth sized deposits by the fed and its sitting in dealer accounts unlent.
Unless that is the case, M1 cannot increase unless money is being loaned. It is not possible mathematically

James

excuse my ingnorance...but would it show up the same way if it was being withdrawn???

[cp1]

I average about two 0% credit card offers a week between my wife and I. Just today I opened my 3rd. Some offers are from companies I already have cards from...weird !!! My shredder is working overtime. One of these days I amy have apply for 0% card and buy a new shredder Not sure what is going on. CP1