If this goes on, America will look like a developing country in a generation.

[pwcmba]

Re: If this goes on, America will look like a developing country in a generation.

http://tinyurl.com/69n7mw

Statement from the Chairman.

[BiscayneSunrise]

Re: Prop 1A passes!

we had a similar referendum pass several years ago in florida. it passed overwhelmingly. I mean, how could you not be in favor of a high speed rail, right?

What was left unsaid when selling the project to the public was the enormous cost; tens of billions of dollars that the state didn't have and couldn't raise. Finally, after several years of embarrassment a second referendum was presented to the people, explaining the full cost of the system. The high speed rail project was then overwhelmingly voted against.

[don]

Re: If this goes on, America will look like a developing country in a generation.

Stepping off the Orange Blossom Special for today's anecdote:

My friend in Tampa called this morning. Gas is now $2.16/gallon. Next door to that station was a huge GM dealership which disappeared overnight. Apparently 'cheap' gas isn't stimulating car sales.

When he got to work, his CFO, a very conservative gal with 100% house equity and a 800 neighborhood FICA score, found out her $200k credit line had been reduced to $30k. This on top of her very heavy 401k losses.

Tampa-Sunset Ltd

[touchring]

Re: If this goes on, America will look like a developing country in a generation.

Stepping off the Orange Blossom Special for today's anecdote:

My friend in Tampa called this morning. Gas is now $2.16/gallon. Next door to that station was a huge GM dealership which disappeared overnight. Apparently 'cheap' gas isn't stimulating car sales.

When he got to work, his CFO, a very conservative gal with 100% house equity and a 800 neighborhood FICA score, found out her $200k credit line had been reduced to $30k. This on top of her very heavy 401k losses.

Tampa-Sunset Ltd

Perfect credit score? In that case, it's the the banks don't have the money to lend out, and not they don't want to lend out. Didn't they say credit debt cannot be securitized now?