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Old 08-19-2019, 01:30 PM   #1
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An Unlikely Economic Warning Sign

Interesting read.

https://www.wsj.com/articles/one-cou...nd-11566207001
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Old 08-19-2019, 01:47 PM   #2
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Sad that WSJ chooses to blame everything on The WH but there is an economic downturn developing and it has nothing to do with balancing the global economy. Commercial truck sales are down, the "repo-rate" is increasing and businesses are preparing for it. Thankfully, with the lessons we've learned since 2007, there will be more "stop-sticks" thrown in place to minimize the effects. The Boomers have arrived at the retirement gate with savings in hand as a result of hard work and saving money...as we were taught. If you're not re-aligning your investments for this next, mild wave, make sure you have enough time left to recover.
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Old 08-19-2019, 02:03 PM   #3
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I know far more boomers who are flakes, aspired only to be on disability, and are living a piss poor life than I do boomers who meet the norm of this forum.

Boomers wealth is greatly exaggerated.
A $200,000 MotorHome, depreciated to $120,000 with a loan against it of $180,000...is not wealth. But that boomer owner will sure tell you it is.

Until it's after tax cash, it just ain't.
The speculation on home values, what boomer wealth is supposedly built of...didnt pan out in 2006 and 2007. But they made new rules saying it never has to be paid back on a primary residence, just to keep the boomer myth alive.

80 percent of boomers(my guess) don't have Squat.

The 401k millionaires you read about?
Of course that's prewithdrawl, pretax, prepenalty money and is hogwash being called a million.
Cut that million in half if you're lucky when you make it cash... Lose most of it if they're not lucky.

And when reading 'boomer wealth averages' :
Remember Mr Pickens and rockerfeller, and $500,000,000 lotto winners and movie folk and sports players are counted right in there. Mr Walls heirs probably offsets 100,000 broke boomers just by himself. How many does Mr Jordan offset?
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Old 08-19-2019, 02:30 PM   #4
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The funny thing about economic recessions:
You can cause one, by eroding the public's confidence in the economy...
Which can be done by anybody with a mic and a camera!
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Old 08-19-2019, 05:21 PM   #5
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Quote:
Originally Posted by Bob Denman View Post
The funny thing about economic recessions:
You can cause one, by eroding the public's confidence in the economy...
Which can be done by anybody with a mic and a camera!
When Warren Buffet says the economy is tanking I'll believe it. Everybody else not so much...……...
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Old 08-19-2019, 05:34 PM   #6
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Originally Posted by MJC62 View Post
When Warren Buffet says the economy is tanking I'll believe it. Everybody else not so much...……...
That's funny!
It might be too late at that point, Buffett is always bullish on the American Economy for the LONG TERM, but he is currently sitting on 125 BILLION in Cash
Use your own judgment on what that means.
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Old 08-19-2019, 05:48 PM   #7
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Originally Posted by bry899 View Post
That's funny!
It might be too late at that point, Buffett is always bullish on the American Economy for the LONG TERM, but he is currently sitting on 125 BILLION in Cash
Use your own judgment on what that means.
He may be looking at purchasing Greenland as well.....
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Old 08-19-2019, 05:54 PM   #8
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Originally Posted by MJC62 View Post
When Warren Buffet says the economy is tanking I'll believe it. Everybody else not so much...……...
As long as he owns Forest River you know we'll be RV'ing. I notice he has expanded the RV models that offer an electronic safe.
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Old 08-19-2019, 05:54 PM   #9
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Quote:
Originally Posted by ducksface View Post
I know far more boomers who are flakes, aspired only to be on disability, and are living a piss poor life than I do boomers who meet the norm of this forum.

Boomers wealth is greatly exaggerated.
A $200,000 MotorHome, depreciated to $120,000 with a loan against it of $180,000...is not wealth. But that boomer owner will sure tell you it is.

Until it's after tax cash, it just ain't.
The speculation on home values, what boomer wealth is supposedly built of...didnt pan out in 2006 and 2007. But they made new rules saying it never has to be paid back on a primary residence, just to keep the boomer myth alive.

80 percent of boomers(my guess) don't have Squat.

The 401k millionaires you read about?
Of course that's prewithdrawl, pretax, prepenalty money and is hogwash being called a million.
Cut that million in half if you're lucky when you make it cash... Lose most of it if they're not lucky.

And when reading 'boomer wealth averages' :
Remember Mr Pickens and rockerfeller, and $500,000,000 lotto winners and movie folk and sports players are counted right in there. Mr Walls heirs probably offsets 100,000 broke boomers just by himself. How many does Mr Jordan offset?
You should seek out a better flock of friends. Quoting Dudley Moore from the original "Arthur"...."I wish I had a nickel for every nickel I have". Most folks I know are comfortably ready for retirement. I retired at 60...paid cash for my MH and could care less what it's worth in 5 years. The Boomers are the last of a responsible civilization and they had nothing to do with the home disaster in 2007. We/they were very comfortable in our nearly paid off mortgages.
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Old 08-19-2019, 05:57 PM   #10
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As long as the RV Dealerships will cash my Welfare Checks...
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Old 08-19-2019, 06:00 PM   #11
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Quote:
Originally Posted by The Gritz Carlton View Post
You should seek out a better flock of friends. Quoting Dudley Moore from the original "Arthur"...."I wish I had a nickel for every nickel I have". Most folks I know are comfortably ready for retirement. I retired at 60...paid cash for my MH and could care less what it's worth in 5 years. The Boomers are the last of a responsible civilization and they had nothing to do with the home disaster in 2007. We/they were very comfortable in our nearly paid off mortgages.
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Old 08-19-2019, 07:08 PM   #12
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I slowly tread the forehead deep darkness as the room fills with pompousity.


https://www.investopedia.com/article...ent-crisis.asp is the drain. I knew it was there.
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Old 08-19-2019, 07:23 PM   #13
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Originally Posted by ducksface View Post
I slowly tread the forehead deep darkness as the room fills with pompousity.
Generation X Here!
But I am friends with both Boomers and Generation X and they both have there shares of Financial problems (some self generated).
I love how everyone points fingers.
I am responsible for my own destiny, and though recessions sometimes stings, I just motor through and never place the blame.

I am pleased to be blessed with winning what Warren Buffett calls "The Ovarian Lottery" :
That is being born in the USA.
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Old 08-19-2019, 07:31 PM   #14
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Quote:
Originally Posted by Bob Denman View Post
The funny thing about economic recessions:
You can cause one, by eroding the public's confidence in the economy...
Which can be done by anybody with a mic and a camera!
And by TV networks, celebrities, and politicians “wishing” for a recession to forward their own personal and political goals.
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Old 08-19-2019, 08:06 PM   #15
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Originally Posted by revjeffrey View Post
June 2018 vs. June 2019
Class A down - 24.5%
Class B down - 40.2%
Class C down - 19.1%


<https://www.rvia.org/news-insights/rv-shipments-june-2019>
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Old 08-19-2019, 08:59 PM   #16
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Originally Posted by LandKO View Post
And by TV networks, celebrities, and politicians “wishing” for a recession to forward their own personal and political goals.
Any proof of this?
Are all they all not buying Motorhomes?
This is a Recreation Vehicle Forum!
I usually stick with financial forums for economic conditions.

Are we trying to make this a Political Forum!
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Old 08-19-2019, 10:05 PM   #17
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I hope not! I'd rather that it stay a thread about the economy...
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Old 08-20-2019, 05:52 PM   #18
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Went to trade in my 2017 C for a new A. My family has outgrown the C after 3 years and 40,000 miles. After seeing how much the RV market has dropped and the salesmen telling me that he is selling Cs vs As at a 3 to 1 rate makes me a little unsure of moving on a A at this point in time. Our C goes up for sale today but I think we are going to wait it out for a while before moving on a A. We are not opposed to buying used but bunks are a must so its a little harder to come by. My kids are 8 and 10 so we are likely going to be getting something different or getting out of it all together in 6 to 8 years when they are unlikely go continue to go with us. I'm not to worried about being upside down because well we love RVing and that's just part of it but if I hold off for a little while and save a ton of money I'm not opposed to that either.

Wish I was paying attention back around 2007 at the RV market so I know what maybe to come.
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Old 08-20-2019, 06:50 PM   #19
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Originally Posted by gentilebrian View Post
...Wish I was paying attention back around 2007 at the RV market so I know what maybe to come.
Hindsight is usually 20/20: isn't it?
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Old 08-27-2019, 04:41 PM   #20
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Without getting political, economies are cyclical and dependent on world conditions besides those in the US. We are due for a downturn and RV's & boats are the first things people give up if they have to cut back.
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