Well our accountant always advises us to renew equipment every few years as we can write off the depreciation at Tax Time....

I still have my Tyros3 pre-ordered and should hear of it arriving there soon. As long as my credit card limit isn't lowered I'm OK with everything. I've worked for local government in SW Florida for 17 years. My county layed off over 50 people and haven't filled any jobs of anyone leaving for other reasons. Never has government done this here. No job is safe anymore. My seniority will help if things get even worse. It's hard to know who or what to believe. That damn bail out package the government is hawking won't help some of the other people I know here NOT lose their homes..................... -charley

All but about 20 of those people in congress should be fired!
Thay have caused this over time with their greed and corruption!

They just keep doing it to us! That bailout is FULL of PORK!
Lee

Leeboy,

The big employer here is the local, state and federal government--all of which are spending your and my money as fast as they can. Hell, the state just jacked up everyones taxes to the point where if you don't have at least two jobs you cannot own a house. Most of the folks that live in those expensive homes behind my place work for government agencies. Their spouses work for other government agencies so they can afford the monthly payments.

Of course, if they cannot afford the mortgage that's OK. The Senate and Congress just put together a bailout so they get to keep them, even if they don't make the payments. Plus, they added a bunch of pork barrel bills to the bailout bill so the fat cats could get even fatter. I hope Tony Rome can find room for me in Cozumel, Mexico when my taxes get to the point where I have to move out of the U.S. in order to survive.

It's a sad state of affairs when the largest employer in the nation is government agencies, but that seems to be the case in the U.S. these days. The irony of this is Obama says he'll lower taxes for 95 percent of Americans, and he'll do this by raising taxes. Those were the exact same words spoken by Maryland Governor Martin O'Mally when he ran for office last year. Since then he has instituted the largest tax increase in U.S. History. Hmmmm! Kinda' makes you think, doesn't it.

Bottom line--I have loads of restaurants, nursing homes, assisted living centers and retirement communities where I can perform on a daily basis, and the vast majority are inhabited by elderly, retired, government employees. And, those that have not yet made it to retirement age are spending yours and my tax dollars as fast as they can. I guess that's the best explanation I have for a booming economy in this part of the nation.

Cheers,

Gary

Hopefully for those of you living in areas doing well, foreclosures, future layoffs, and limited credit access may not have much of an impact. However we all may be singing a different tune in a few months once the full impact of what has happened on Wall Street, the banking system, and Washington sinks in. I just can’t afford to be cash poor for the luxury of the latest greatest keyboard and I'm wondering if others had the same thought.

Gary,
Exactly as I expected...

Lots of things need to change in this country...how shall we get it done??
That's OT and should be another subject...

We may all have to GO to Washington some day and take back our country...

Every one has the right and should vote for who they want to be in the W.H......but If they vote for Obi one...I sure don't want to hear them complain when they get what will come!


Ian...Do you have room for me up there in Canada? I like Canada..great fishing!
Lee

Being a student of Dave Ramsey we have become completely debt free and if cash has any value we will be fine.
These are is the rainy day we were told to save for.

Many live with the attitude or rationalization they "may die tomorrow so what the heck". The problem comes when they don';t die and tomorrow indeed does comes, and comes and comes...and keeps on coming...
And people owe and owe. I know people who have TWO $400 car payments, various toy payments and claim they cannot afford health insurance!!!!! Amazing.

That said. We don't seem to be doing to bad. Cars are selling homes are being built. Our store is Bout $40k off from last year but will more than a million in sales thats not too terribly bad, However looking forward I think we should buy less stock but the owner is a cash and carry guy He pays cash for everything and pays upon receipt of invoice so he is not effected by business loans and cash flow to pay interest on inventory. He owns over a million in inventory and buys more.

We are not rich by any stretch but we have a nice nest egg we achieved over the years by passing on things others put a lot of external value in like certain cars clothes jewelery and we passed on ALL Extended Warranties. Lets just say our Rolexes, Polo shirts,Harleys,BMWs and Lexus' are still in the bank where they belong and will stay.

WE have everything we need and some of what we want. Right now its financial security. The rich will not be affected by a downturn. They may fire some help and eat out less. Those who work for them with high debt levels are going to eat a lot of soup.


We never bought a new car and don't use debt we cannot pay of in a month. We have learned how to live from the inside out rather than from the outside in and it works. Clark Howard and Dave Ramsey are good teachers.

MY only worry is the FDIC and SIPC solvency....After that its all about gold...

That allow my wife to work three nights a week doing what she loves and I spend 30 hours a week selling musical toys.

Cut all your edit cards in half & trash them. The average person has $20,000 in CC debt....& I dont feel bad because they all brought it upon themselves. Lead a horse with a Carrot he keeps walking along. I'm glad I learned my lesson many many years ago. Credit is the Devil. So tell me who created this so called bad economy?

I think Kingfrog said it all. Good for him.
Here in the Dallas area I would say things are slightly less than normal. I am a real estate broker and we are having the best year EVER! Homes are selling if priced right and the buyers are truly qualified.
I have seen a slow down in new construction - but the builders here have overbuilt the area for years. Now they are having a hard time getting rid of inventory. But that will pass too.

Personally, when I retired 11 years ago I knew I could survive without ever having to work again. Sure, our 3-4 cruises a year would have to be put on hold, and new toys would become just a wish - but what the hell - it all passes with time. This is the 3rd time I have seen this type of economic problems in the last 30 years and things always seem to work out ok.

I do feel sorry for the "debt ridden" families who never learned how to control spending or understand how much trouble they were in finacially.

As for the music industry -it has been on a down turn for years in Dallas. It is really hard now to make your living playing live music in our area. I play my senior gigs each week(about 4 of them weekly) and am paid well for my efforts - but I know a lot of guys playing for peanuts who are gifted players. The studio work is gone, the big band days are over - and the public, in my opinion, couldn't care less if the guy playing can or can't.

Last week I spoke to a friend who played a lot of studio jobs with me in the late 60's. He said when he even gets a call he plays for less money today than we made then. Go figure.

I hope all is well with each of you and that all this worry turns out to be just that -nothing but worry.

Hammer

Sometimes I think they have over exxagerated the economic situation. Actually the majarity of people are able to make their payments. 6% unemployment has been an average for the past 50 years,

I want to know WHO IS RESPONSIBLE for allowing those who could not afford homes buy them. Those who did not have 20% down.

Someone pressured the banks to change their lending practices. It began in the Clinton administration. WE are now forced to pay for those who oucld norafford those homes.

I know the general press wants Obama and I will bet if he gets elected nothing will "change" I just don't understand stealing from the rich and giving it to the poor without the poor having earned it. Sounds like the Soviet Union to me.

What don't people understand about simple math?

JOhn earns $200,000 and pays 25% in taxes IE $50,000

Joe earns $20,000 a year and pays 15% ie
$3000

EVERYONE gets a tax cut of 10%

SO doesn;t it make sense the guy who paid in $50,000 gets back $5000

and the Guy who paid in $3000 gets $300?

Thats what they are calling tax breaks for the rich!!!! Amazing.

OF my boss gets taxed $50,000 more a year guess who loses their jobs? Between my investment income and my wife, we earn enough to keep us in dogs and beans, But I work with people who owe and will suffer badly. Less customers because business owners are paying more and losing customers..... I just don;t understand taxing the rich. Its like a business,,,,,Your goods go up your raise your prices.

But the more people suffer and are called victims the more they vote for those who make promises they cannot keep.

The press is obviously biased. they don;t report the news they TELL US WHAT THINK OF THE NEWS......and who to support. Especially CNN.

Anyway Thank God (yes I believe in God and proud of it) we made good choices and made sacrifices years ago which allows us to buy keyboard like the Tyros.





[This message has been edited by Kingfrog (edited 10-03-2008).]