More Foreclosures Expected in 2011

[WhatMoney]

Ah, more doom and gloom from the BK forum's doomers. It must be hell to always find out you were wrong in the end. Build your caves and stock up on dehydrated food. The rest of us will continue living our rich and happy lives and ignore you negativists.

Most of you that think the sky is falling are living in your own economic bubble. You cannot and will not look beyond your own back yard. Many parts of the country are slowly recovering. Christmas spending this year is looking like a new record:

Shoppers came back in force for the holidays, right to the very end. After two dreary years, Christmas 2010 will go down as the moment when Americans rediscovered how much they like to shop.

People spent more than expected on family and friends and splurged on themselves, too, an ingredient missing for the past two Christmases. Clothing such as fur vests and beaded sweaters replaced practical items like pots and pans. Even the family dog is getting a little something extra.

"You saw joy back in the holiday season," said Sherif Mityas, partner in the retail practice at A.T. Kearney.

A strong Christmas Eve rounded out a great season for retailers. The National Retail Federation predicts that holiday spending will reach $451.5 billion this year, up 3.3 percent over last year.

That would be the biggest increase since 2006, and the largest total since a record $452.8 billion in 2007. And a strong week after Christmas could make this shopping season the biggest of all time.

Of course to the gloomer, it's all a government/media conspiracy. It just can't be that the economy is improving and people have money to spend again. Nope, that doesn't fit your personal view from your perch, so it must be another media lie.

http://finance.yahoo.com/news/Holida...&asset=&ccode=

[helpmeout]

Ruin your Christmas? Because I don't agree with what you believe? You are more dramatic than my youngest. And she's very dramatic.

BTW, the vacationer in chief has not been President since he left office in January 2009.

[WhatMoney]

You are welcome to your own opinions, but not your own facts...

I cannot see where you can say this? Goebbels effect? "Tell people big lies, often enough and they soon will believe them."

That's right. If the Republicans and conservative media keep telling their big lies everyday a certain portion of the people will believe them, since they are too lazy to actually check the facts.

Here in FL we are near about 15% real data, not CNBC figures. Our County is near Depression numbers, yet we all keep "whistling past the graveyard".

Actually, the CNBC figures are the national average unemployment, and of course you know the difference between U-3 and U-6. Each state also has different state unemployment numbers, some lower and some higher than the national average. Since you should know that too, I don't understand your complaint. No one is hiding your county's unemployment number. But then again, there are 3,183 counties in the USA, and they are not all as depressed as your county. Many of them even have jobs available.

'Bammy stated we needed to tax the rich and all will be better, while conservative (Note I didn't say Republicans) stated lower tax rates will spur growth. He denied this fact. Then when he HAD to compromise he then claims that HIS tax cuts will help the Country.

No, the 2% cut in social security withholding taxes ARE a tax cut for everyone earning $108K or less. A family earning $100K will have $2000 more to spend in 2011 and 2012. A family earning $50K will have $1000 extra income. This is a direct stimulus to the working class, and if they spend it it will stimulate the economy. Obama was clever in giving working class families an extra tax cut that the rich did not receive. That must really piss off the Republicans - how dare Obama favor the working class families over the wealthiest families.

We are status quo at this time as we had no tax cut, we just didn't have the tax increase that was ten years static.

No, You forgot about the 2% cut for working families. See above.

We are still going down hill. If 'Bammy actually cut taxes it would show a great impetus to many businesses to start gearing up as well as consumers starting to consume. Bring more of our product back from China to the U.S. might just be a novel idea. Pay a bit more to get quality. I don't know how many Chinese wrenches I have broken while my 20 year old Craftsman wrenches go on and on and if broken replaced free (now with Chinese product).

Sorry to break your bubble, but the economy is slowly improving. You can deny it all you want - it doesn't change the facts. And you will get your Made In USA wrenches back when factory workers are willing to work for $5/hr with no benefits in this country. And even that would not make them competitive with the skilled overseas work force. Now when do suppose that will be?

Only confidence in our ability will ever bring back the economy. While our Vacationer-in-Chief is "resting" again at our expenses in Hawaii, Michele eats cake while we have no bread. Then tells US what our children can eat in school. Oh by the way, no toys in those McDonald's kids meals. By Government edict.

What a ridiculous comment. Every President since George Washington has taken vacations, usually in their home state, over the Christmas Holidays. Hawaii is Obama's home state, where he was born and raised, in case you forgot.

And now you are against school age children eating a healthy diet? Sure lets just feed the kids soft drinks, donuts and pizza - get them as fat as a pig, and then pay Billions to treat childhood diabetes for the rest of their life. American kids are fatter than ever - and most of it is the junk food diet they live on. Hard to believe you oppose healthy eating by growing school age children.

Well enough. Why ruin my Christmas? I have our Christmas gruel to stir and am too busy attempting to find more wood to keep it warm for Christmas dinner so I'm going to forget thinking about sunny Hawaiian beaches and I never did like golf.

Sounds like more envy of the successful. I'll bet you were really pissed when President Harry Truman vacationed every winter in Key West, Florida. He should have stayed in Missouri and shoveled snow.

Bah-Humbug, 'Hub

[banca rotta]

This is a very difficult debate. I am 99.9% certain that the "whatmoney hope and change gang" is wrong, but the truth is I really, really want them to be right and I want me to be wrong.

Who the hell wants to see a disaster just so we can come here and say I told you so?

I really want quality health care for all, I want "a chicken in every pot" and want my country to prosper.

I do not see it until we all change our ways unfortunately.

[AngelinaCatHub]

This is a very difficult debate. I am 99.9% certain that the "whatmoney hope and change gang" is wrong, but the truth is I really, really want them to be right and I want me to be wrong.

Who the hell wants to see a disaster just so we can come here and say I told you so?

I really want quality health care for all, I want "a chicken in every pot" and want my country to prosper.

I do not see it until we all change our ways unfortunately.

Hey, I think 'WhatMoney' has good arguments. I just don't agree with him in the fact that "THEY LIE (politicians)". I am one who will store a years food, have plenty of ammo and pay off all debt and watch and wait. Better to prepare for the worse, and hope for the best. Can't lose that way and if wrong, eat the food, sell the ammo at inflation profit and "put your thumb in the pie, and say 'what a good boy am I'". But if we who see the results and most of us are here do to those reasons mentioned in this thread, are correct, "You ain't seen nuthin' yet".

I'm pleased Truman went on vacation to Key West. I also am pleased 'Bammy is Christmas Vacationing in Hawaii. Good. But Truman never took the amount of vacation time or the "decedent" (if I may use a commie term) use of tax payer money to do so. Even Clinton didn't take 500 rooms for all his friends to go to India. He was quite content with the little room off side of the Oval office sharing pizza with his intern.

Not here to ruin Christmas. Celebrating it with enthusiasm with my best Forum Friends including my Super Liberals. I would fight and give my life for their right to be wrong. 'Hub, and a Merry Christmas, even to Liberals.

http://www.youtube.com/watch?v=7SLY_HfO-pQ

[albacore44]

My industry is in a bubble due to the recovery in the rest of the world. We cant get our products out fast enough, and were expected to hire significantly next year. hopeing for the overtime in my division to come back, so i can stash some $$, and recover from my BK. Some businesses are doing well right now, but the media doesnt talk about them much. They get better mileage telling people how bad it is, and it is bad in many sectors. It will be a long long time, if ever, for a recovery

The wild card for me is my 2nd (HELOC) which I stopped paying in May. I assume its charged off. Hope to settle it but not sure if i will have the $$$ to do it. more Foreclosures continue in my neighborhood and Zillow keeps dropping my property value by about 10% a month. It now has it valued at $10k below what I owe on the 1st. I dont care if it continues dropping,less chance of the 2nd attempting to foreclose.

[shark66]

Those are excellent news, albacore, regardless of what industry you're in...

We need many more stories like yours on a first-hand basis if we're to regain optimism...

Very happy to see you posting again, BTW...

Good luck.