[PRCo] Re: Europe ....

[John Swindler]

Fred once mentioned that bad news is good news from the media viewpoint, and we seem to be getting a lot of that now.  And the media also looks for "poster children" to try to prove their point.  
 
As Derrick mentioned, neither has my credit card company ever called for a payment.  Likewise, I had an adjustable rate mortgage 15 years ago, and even though the rate went up one percent a year during first three years, monthly payments declined.  I'll let Fred figure out how that happened after reminding him that I was in the reserves.
 
Price of gas?  Not a problem.  The run-up last summer was a "bubble" which has collapsed, just like the housing bubble, the dot-com bubble, etc.  Gas prices will fluctuate, but the long term trend is up.  But not as fast as those who preach fear would want us to believe.
 
As for jobs, what is the unemployment rate today vs. what was it in 1981 after Carter?  What is the inflation rate today vs. what was it in 1981 after Carter?  But that doesn't make headlines.
 
As Fred said, bad news is good news.
 
But I do have a concern which is best illustrated from a 'Murphy's Law list:  "If you think the problem is bad now, wait until the government solves it."
 
Cheers
John
 
  
> > On Tue, 14 Oct 2008, Schneider Fred wrote:> > > Then gasoline and mortgage each mushroomed by $1,000. The credit card> > issuer is calling demanding payment. The mortgage is past due.> > I don't understand why people still answer the phone pretty much ever. And > no one is calling me over bad debt, either.> > > Finally it closed with a young couple in one of the new condominiums> > in South Pasadena talking about living with the video store, the drug> > store and the convenience store within walking distance and the light> > rail to downtown Los Angles taking only 20 minutes.> >> > Will that be our future? For some. My sister claims that is why> > she lives near Wilkinsburg. She wants the urban convenience and a> > condo. She grew up in Penn Hills and later in Lancaster in those> > suburbs. She rather likes a smaller place. But she and Don never> > had kids.> > The people next door have a place about 2/3 the size of this one, and 4 > people. We have 2. We're full but deaccessioning things rapidly. It's all > about knowing what you actually need.> > > Will it be our future? None of us want to rush out and sell our> > homes now.> > Speak for yourself. Mine's on the market.> "Ask me how many houses I own"> > Derrick> 
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