Guest Posted April 4, 2004 Report Share Posted April 4, 2004 In my opinion a lot of the RV industry over the last few years has been supported by home re-fis, even though for most the interest is deductible as a second residence. I believe the RV industry is about to leave it's golden years behind in spite of all of the Baby (ka)Boom hysterics. As it is, direct loan terms have become absurd. How does 4.35% fixed for 20 years on $100,000 sound? That's better than a mortgage on an asset that will depreciate faster than the principal is paid down. Some of the crap being foisted off on the public simply won't survive to the end of the payment book either. Most who finance direct are upside down from the get-go and by year 2 are deeply underwater. Yobob: 20 year fixed rate financing on an RV??? Question: What looks and smells older than a 19 year old RV? Answer: NOTHING When push comes to shove, can't you just picture people running out this summer and getting that low interest RV lined up in advance of walking away from their home mortgages, selling everything they own and disappearing into the countryside in their new "home", or better yet, disconnecting that hidden GPS tracking device at the border and heading to Central America for an extended vacation...a very extended vacation. If I were in a business that loaned $100K on a "secured" asset that could wind up on blocks in a jungle 5,000 miles away, I'd be a little nervous about that. "Secured RV Loan" = OxyMoron. Can you say "Grand Theft Auto?" Link to comment Share on other sites More sharing options...
The End Posted April 4, 2004 Report Share Posted April 4, 2004 I have been playing this for over a year and a half. Frustrating. I got my name up in lights once. http://www.makaimedia.com/games/game_frame.aspx?gid=11 TE what did you post? I've lost my husband!!! 534.8 something. Link to comment Share on other sites More sharing options...
Guest yobob1 Posted April 4, 2004 Report Share Posted April 4, 2004 In my opinion a lot of the RV industry over the last few years has been supported by home re-fis, even though for most the interest is deductible as a second residence.? I believe the RV industry is about to leave it's golden years behind in spite of all of the Baby (ka)Boom hysterics.? As it is, direct loan terms have become absurd.? How does 4.35% fixed for 20 years on $100,000 sound?? That's better than a mortgage on an asset that will depreciate faster than the principal is paid down.? Some of the crap being foisted off on the public simply won't survive to the end of the payment book either. Most who finance direct are upside down from the get-go and by year 2 are deeply underwater. Yobob: 20 year fixed rate financing on an RV??? Question: What looks and smells older than a 19 year old RV? Answer: NOTHING When push comes to shove, can't you just picture people running out this summer and getting that low interest RV lined up in advance of walking away from their home mortgages, selling everything they own and disappearing into the countryside in their new "home", or better yet, disconnecting that hidden GPS tracking device at the border and heading to Central America for an extended vacation...a very extended vacation. If I were in a business that loaned $100K on a "secured" asset that could wind up on blocks in a jungle 5,000 miles away, I'd be a little nervous about that. "Secured RV Loan" = OxyMoron. Can you say "Grand Theft Auto?" I think they already did that by financing their RV with their home equity. So if the bank takes their house they already have a place to live! Saw a graph the other day that showed that even with all of the home equity money and coincidental rise in total mortgage debt, general consumer debt levels never slowed down a bit and paralleled the rise in mortgage. Maybe they can pay them Tuesday for a hamburger today? "Ward, you were a little rough on the beaver last night." Still cracks me up. Link to comment Share on other sites More sharing options...
DrStool Posted April 4, 2004 Report Share Posted April 4, 2004 Cracking Bongs Buck Toking Uncle Buck and the Long Bong Hit, including short and long term updated charts and price targets, is now loaded. Take a subscribatory and get the latest whiff of Uncle Buck and the Long Bong Hit. 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
Guest Posted April 4, 2004 Report Share Posted April 4, 2004 Check out the last 3 charts! http://jobwatch.org/ Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted April 4, 2004 Report Share Posted April 4, 2004 Check out the last 3 charts! http://jobwatch.org/ Guess the author of this headline didn't read what you just posted, huh. Labor Data Thrills the Market The piece (from the mainstream media) implies that the markets and the economy now need to start fearing that the Fed might need to start raising rates now that the economy is supposedly showing proof of life again. Yet, as Doc pointed out before Friday, the $tnx breakout actually occurred on Thursday and just needed a little more push for everybody to be convinced. The newsnoise did that, and then some. The Jobwatch link points out that the March jobs report is the number the Administration had been expecting.... every month since last year... therefore nothing to get excited about at this stage. Even if the number was determined honestly, the cumulative jobs picture is still way below expectations. The irony is the incorrect identification by the mainstream media of the cause of the rise in yields. If the rise really were attributable to an improving employment situation, then the indebted and overmortgaged public would have less to worry about. As it is, I think they now have far more to worry about - there is still abysmal unemployment (and stagnant wage growth for those who are employed), while rising interest rates are going to do nothing to improve the lot of anybody with debt or a tight budget. Link to comment Share on other sites More sharing options...
Guest Posted April 4, 2004 Report Share Posted April 4, 2004 Al Qaeda Economic Targets Outlined in Depth http://www.homelandsecurityus.com/ Link to comment Share on other sites More sharing options...
dogsie Posted April 4, 2004 Report Share Posted April 4, 2004 I am not a conspiracy theorist but the payroll data out this week came against one of the worst weeks for Bush in Iraq. Not only was the monhs's data better than expectations but significant revisions were made in the prior two month's data. I am not really suggesting anything other than it is probably quite a coincidence. Link to comment Share on other sites More sharing options...
threadbare Posted April 4, 2004 Report Share Posted April 4, 2004 Not a conspiracy theorist, Dogsie? Sounds like you're contemplating the red pill though, nibbling a bit around the edges. Go ahead man, just swallow the damned thing! It's bitter as hell, but you'll be glad you did. :grin: And remember this saying from the suppository essays of the Oracle. Those who voluntarily decline the red pill, in oral fashion, will have it administered in an entirely different way, one day. Link to comment Share on other sites More sharing options...
mjkst27 Posted April 4, 2004 Report Share Posted April 4, 2004 in July 2002, the news was horrible, all the time. With Friday's job report, and the upcoming earnings season, the news will be fantastic. I'll let you pull up the charts Link to comment Share on other sites More sharing options...
zensmoke Posted April 4, 2004 Report Share Posted April 4, 2004 Bush and Blair made secret pact for Iraq war ? Decision came nine days after 9/11 ? Ex-ambassador reveals discussion David Rose Sunday April 4, 2004 The Observer President George Bush first asked Tony Blair to support the removal of Saddam Hussein from power at a private White House dinner nine days after the terror attacks of 11 September, 2001. http://observer.guardian.co.uk/politics/st...1185407,00.html Link to comment Share on other sites More sharing options...
summoner Posted April 4, 2004 Report Share Posted April 4, 2004 No question the jobs report is fixed....the last two weeks the Dems have been beating Bush and the republicans down with the jobs issue....low and behold this weeks number , and the revisions....its all about winning reelection....looking to add puts this week ....following the daily and hourly....all longs smokin to the upside....MWY, GMR and PMs....TRADE SAFE Link to comment Share on other sites More sharing options...
brian4 Posted April 4, 2004 Report Share Posted April 4, 2004 Here is part of HOW they cooked the books on the Jobs Report-from Wavestrength-" 72,000 of the increase in JOBS came from the striking Grocery workers returning to work. A further 71,000 were construction workers returning to work who had been laid off in February due to bad weather and of course lets not forget the uemployment rate ACTUALLY rose to 5.7%. The Jobless rate has been rising an average of 0.163% a month at this rate it will hit 7% in November and no SITTING PRESIDENT has been re-elected with a 7% uemployment rate." Don't know wether you have noticed but today has been the bloodiest day in Iraq yet. It is looking more and more like guerilla war is turning into a Civil War. Several news bots are reporting the very real possibility of a Kerry-McCain ticket and John Dean of Watergate fame (who served time) in a long interview with the Guardian says the current Administration is far more corrupt and dangerous than Nixons was he goes on to accuse Cheney of running a shadow Government. Just another day in the Hood-Huh! Link to comment Share on other sites More sharing options...
The End Posted April 4, 2004 Report Share Posted April 4, 2004 My guys are boolish as all get out. Be careful out there stoolies. Link to comment Share on other sites More sharing options...
brian4 Posted April 4, 2004 Report Share Posted April 4, 2004 Interesting-The dow retrace at the close Friday is a perfect 61.8% and exactly stopped at the 50 day M/A. NazQuack a 61% retrace-looks to me likethe upward correction is over unless they spike from here. Link to comment Share on other sites More sharing options...
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