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Old 02-03-2008, 11:06 AM
  #18  
daddylynch
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Join Date: Jan 2005
Location: delaware
Posts: 115
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I believe that 2 things are holding down the economy, First was of course the Oil prices which to me the Speculaters are being left to do what ever they want. As long as I can remember there have always been troubles in the Oil producing countries so why have they now decided to use that as a reason to jump up the oil prices???? What, Sunoco just announced record profits again....that says it all imo.
Also the housing market has really helped the economy take a dive.We had our house on the market for 6 months and never got shown once. We live not 5 mins from the Atlantic Ocean and cant get anybody to even look at our house.The Developers were left to build as much as they could as quick as they could with no forethought on the future and now there are thousands of empty brand new homes sitting empty around here. Also the people that got involved with those arm's that the banks started jacking the interest rates on didnt help. There are 2 people to blame for that, the banks and the people getting taking those kind of loans.I know a guy whos interest rate went up 4 points in one month, Now that was just the Bank getting greedy and it cost the banks in the long run, because now there are all these foreclosed on houses that arent worth anything.
It will be awhile before we see a good economy again.
Hopefully Washington will get their heads out of their respective butts and get a handle on it. :roll: :roll:
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