The American economic prosperity, let it rest in peace.
1776 – March 17, 2008.
JP Morgan buys Bear Sterns for $2/share. Federal Reserve drops interest rate on bank loans to 3.25%. Asians flushed down the toilet too.
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Smart buy for JP. This is how you survive difficult times. In the good times you have to realize that bad times are coming, save and invest. Then when the bad times come you have the opportunity to make great purchases for pennies on the dollar.
I just bought a new house.
Good for you, Amy!
I hope you got a tremendous deal, or better yet, were able to buy it without financing…
“The reports of my death have been greatly exaggerated” – US Economy
Vlad, I’d like to refer to you something I like to call history. Please see 1970’s, 1987 and 1991.
The quote is from Mark Twain, not US Economy.
The point of these two posts is to introduce you to US economy, I appreciate your lacking understanding of both the history and economics (and apparently quote attribution)..
The big picture problem here is that this is a widespread issue that is being ignored by both the government and the consumers and as business owners we need to be aware of it, not ignorant of it just because we heard it happened before.
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