[RBatson]

Originally posted by Mr 5 0


You are misinformed, Rick. Home sales were up 9% in 2003 and were up in 2002, 5% over 2001. New home starts are booming and the average new home price is $170,000.

I'm not misinformed, Jim. The reason home sales are up are because the interest rate is so low. People with jobs are buying houses they weren't able to afford, previously.. because of the rates. You have an opinion and find figures that you think support your claims. They don't, but you think it sounds good, I guess.

Consumer confidence is fine and millions are buying new homes and cars and refinancing their existing homes to cash in the equity.

They're refinancing to take advantage of the better rate, not to get the equity out(though some do get some of the equity in the process). Consumer confidence hasn't been real great for awhile but as I said, its getting better. It appears we live in the same country but two completely different worlds.

This year, inflation may creep up and increase the mortagage interest rates a bit but to claim that the rates are low because no one can afford a home and then see home sales climbing beyond any previous numbers is to ignore reality, something you are free to do on your own, but don't try to sell it here.

Mortgage rates have already started to climb. I just explained why homes are selling.

The thing is that in some areas of the country you'll see a real employment decline and some people lose their homes to foreclosure - but other areas are doing great. This is typical in a nation of 290 million people spread over 51 states. Not every area is going to be equal. Another factor is that many folks simply live too close to their income with little to fall back on and when their job ends they are about a month away from real financial trouble. That is more a result of poor money management and the fact that we pay so much in taxes that we have less every year to actually spend, much less to save, even though inflation is next to nothing, then 'consumer confidence'.

Now I'm getting a headache. You seem to be talking in circles. The fact of the matter is that bankruptcy is at an all time high. Although unemployment is going down, its the lower paid jobs that are on the rise.

I feel sorry for you Rick - really - but blaming your financial troubles on the president of the United States is absurd.

I'm not looking for sympathy, just making a point. I didn't blame it directly on the president, the economy yes. It appears you are blaming it on the president though.

Of course the economy has been in a decline - since late 2000 in fact -

Circles I tell ya.

and the events of 9/11/01 exacerbated the problem but the U.S. economy has been on a steady incline for the past few months and will be back to normal soon.

So you are agreeing with something I already stated?

The Bush tax cuts didn't do all of it but they certainly helped make the current economic recovery possible, something you seem to ignore - while blaming Bush for the loss in your retirement funds. That's not logical or even fair, Rick. In any case, I hope your retirement funds recover but if you're in a 501k then you'll always be somewhat dependent on the stock market and the many variables that affect it. That's the inherent risk in investing - in anything. It should go up but it can always go down, too.

I realize it fluctuates, that's the nature of the beast. While I have some in a 401k, most of my investment is in a real estate property.

Your outlook is pessimistic when optimism is called for. You live in the greatest, freest, richest country on the face of the earth and you are unhappy. You see 'problems'. I see a world of opportunity and freedom to do as we wish, something few other nations can offer in anywhere close to the same measure, including socialist Europe.

I don't consider it being pessimistic or optimistic, I call it being realistic. Hey, if we didn't realize the problems that we have we would never progress.

You choose to do what you do and to work where you do, just as everyone does. There are a plethora of reasons why some do better than others in life. Missed opportunities and self-limiting actions are the bulk of it. In any case, I'll remind you again that the top 1% pay over 36% of all income taxes. One percent of the (top) income taxpayers pay thirty-six percent of all the income taxes. I think that's beyond fair, Rick. Your personal situation may be clouding your judgement here, i suspect.

You're right, life is a series of choices and nothing is for certain(except death and taxes). I choose the road to security. Even the secure road has its risk. Why are you still preaching about the tax rate?

Hindsight is still 20/20.

LOL! Catchy tune.

I do. Many of them are Democrat congressmen and Senators.

If they did, they were the minority.

I didn't call you a communist, Rick. I said that you favored socialism, often a forerunner to communism but not the same thing. France is socialist but it's still a democracy. China is communist and it's a dictatorshiop, as all true communist governments are. You appear to favor socialism. Too bad.

Heeh, it can be very frustrating having a discussion with you. let me give you a quote from the president..

"These are the basic ideas that guide my tax policy: lower income taxes for all, with the greatest help for those most in need. Everyone who pays income taxes benefits — while the highest percentage tax cuts go to the lowest income Americans. I believe this is a formula for continuing the prosperity we've enjoyed, but also expanding it in ways we have yet to discover. It is an economics of inclusion. It is the agenda of a government that knows its limits and shows its heart."

Now, who benefits from the tax cuts the most?

I'm wondering if you work for the president, I know you are a supporter. You seem to be so much a supporter that you'll even contradict him, to support him. You speak with a forked tongue, white man. Heeh.