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Financial crisis

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I'm going to get the best camera I can afford when nobody is buying, so please everyone, stop buying!

(That was sarcasm BTW).

Sure, this might slow down some future rollout, but the current crop of cameras are all very good, and do we REALLY need to buy every new camera as they come out?

--
Al Patterson
 
Phil_L said:
DStan said:
You must mean those idiots who socially engineered mortgages (by
tampering with the marketplace) to people who really couldn't afford
them, only to screw them and everyone else later on, which is now.
Click to expand...
Idiots?? Hardly!!
I could think of quite a few other descriptors though.

They managed to siphon off money from gullable low income takers into
their own pockets via interest payments on sub prime loans and mind
blowing bonus schemes.

The much toted Republican "trickle down" theory of economic growth
turned on its head to become "trickle up".
Upside down Robin Hood.
Click to expand...
I would not just blame Republicans for this, Democrats seized on this as a way to put people into homes that they could not possibly afford. Not that long ago Harry Reid was trying to take the roof off of Fannie Mae and Freddie Mac, the sky's the limit. None of them cared enough to look at what was going on, Dems and Repubs alike.
Phil_L said:
The same bunch of unscrupulous, callous, greedy crooks are in charge
of the "bail out".
If I was religeous I would say God help us all.
Phil_L said:
I might've said, "good intentions gone bad," however, when dealing
with politicians, good intentions are very rare.
Click to expand...
Yes!
Click to expand...
--
Stan ;o()



In the spirit of Occam’s Razor one should embrace the less complicated formulation or simply put, less is more.
http://standavidson.com/post/Birds
 
Suntan said:
Suntan said:
You must mean those idiots who socially engineered mortgages (by
tampering with the marketplace) to people who really couldn't afford
them,
Click to expand...
Please read paragraph 3. And note the date of the article.

http://query.nytimes.com/gst/fullpage.html?res=9c0de7db153ef933a0575ac0a96f958260&sec=&spon=&&scp=1&sq=fannie%20mae%20eases%20credit%20to%20aid%20mortgage%20lending&st=cse
Click to expand...
Yes I already know about the "Clinton Administration" pressuring the Fannie and Freddie to open the flood gates to bad credit risks. It's a good link as most people probably are unaware of how far reaching this mess is. This whole debacle is a bipartisan collaboration of immense proportions. Now they'll be pointing fingers back and forth. I say fire a good load of them in each successive November.
--
Stan ;o()



In the spirit of Occam’s Razor one should embrace the less complicated formulation or simply put, less is more.
http://standavidson.com/post/Birds
 
DStan said:
I would not just blame Republicans for this, Democrats seized on this
as a way to put people into homes that they could not possibly
afford. Not that long ago Harry Reid was trying to take the roof off
of Fannie Mae and Freddie Mac, the sky's the limit. None of them
cared enough to look at what was going on, Dems and Repubs alike.
Click to expand...
OK!

I'm not blaming the Republicans, just comparing their theories with prevelant banking ethics in the US (and elsewhere).

--
Phil_L
 
Phil_L said:
DStan said:
I would not just blame Republicans for this, Democrats seized on this
as a way to put people into homes that they could not possibly
afford. Not that long ago Harry Reid was trying to take the roof off
of Fannie Mae and Freddie Mac, the sky's the limit. None of them
cared enough to look at what was going on, Dems and Repubs alike.
Click to expand...
OK!

I'm not blaming the Republicans, just comparing their theories with
prevelant banking ethics in the US (and elsewhere).
Click to expand...
The lack of ethics crosses all party lines, don't be fooled or lulled by either, each has their own bill of goods to sell. Each panders to the political sector that keeps them in business and schemes to their constituents' localized themes.
--
Stan ;o()



In the spirit of Occam’s Razor one should embrace the less complicated formulation or simply put, less is more.
http://standavidson.com/post/Birds
 
mender said:
That was a depressing tirade. But it's the broadcasting from these
nattering nabob's of negativity, in the financial sphere's, that has
me barking; the sky is falling.
No one wants a Pollyanna now, in these times. So paint it like it is.
As the Rolling Stones wrote, "Paint it Black" Black as night, black
as coal.
Click to expand...
I think the current crisis is a good indication that the current political/economical system has some serious flaws, and sooner or later I am sure humanity will come up with something better.
 
Well, it also states they were pressured by shareholder expectations. I don’t know about you, but I know some of my mutual funds had holdings in Fannie and Freddie. So even though I personally would never condone these irresponsible actions, I have at least some blame for it too. Same as many, many others (my holdings are not super elaborate and exclusive hedge funds, just your run of the mill index funds.)

Any person with brain-one for financial sense could see that this was going to end badly when you continuously get mail hocking mortgages with payments so low you don’t even cover the interest for that month. But personally, I just threw them away and shook my head, I didn’t write a letter to the Federal Reserve telling them I was not happy with what they were letting all the major mortgage providers do. I would think that a letter from even 1 in 10 citizens back 4 or 5 years ago would have been enough to see significant change in time to slowly deflate the bubble that has instead popped. But we didn’t do that (I was busy playing with my new D70 back then.)

The main point is that there is plenty of blame to go around.

-Suntan
 
Do you believe everything you read on the news?

Do you still have a job? Do you still have a roof over your head? Do you still have food in your mouth?

Let the men in the grey suits jump from the 14th floor again. They created their own mess. They should suffer the consequenses. Worst case scenario, you won't have a bank to send you mortgage payment to anymore.

Liquidity will return to the market on its own. That has never been an issue - and it isn't now. You just might actually need decent credit to get a loan - you know, just like in the good ol' days.

The financial markets need to be held accountable for their excessive greed - NOT bailed out....again!

When this affects my ability to take pictures with my D300, THEN it will be a crisis!

--
--------------------------------------------------------------------------------

'There are no rules for good photographs, there are only good photographs.' -Ansel Adams
 
Bushes economic stimulus package of last summer was right on but the amount was nothing so.... Here's the best plan:
Give the 700 bil to the people over 18, = about 250.000 each
Tax at 30% = billions back to government.
All house loans paid off, = no bank closings
All loans paid off = no debt.
Dead beat dad's catch up on child support, = federal SRS relief.
We buy up all these cheap stocks and retire with money to spare.
Problem fixed = Go back to taking photographs.
http://www.ghillphotography.com
--
G. Hill
 
Yeah, I'd be hiper all right!! We would let the feds deal with keeping a lid on inflation but the current direction were going will help no one but the upper crust of the crooks. The bail out means nothing if the people still have no money to spend. To free up credit only people will get in more trouble than they are right now...
--
G. Hill
 
simpy, yes, we will use our cameras longer and the development will be slower [nt]
--
cheers
Martin F.

E330andE500

Typing errors are intended to provide a basis for global amusement.
 
You hit the nail!

I was always surprised that many people here (at the DP's forums) were always talking about yet another successor cam. They were very happy with their D70. But when the D70s came out, they wanted the new D70. Bigger screen!!! At the same time there was always someone asking: "How about D80?"

Even now with the 'perfect' D300 I hear sounds as: "Is there still no D400 in the pipe?"

That made me thinking that the financial crisis could be a point of changing in thinking. Most certainly now the DSLR is at a high level of development.

My Nikon F4 fslr served me for many years. And most hobbiests used their cam for many years. Strange that the average DSLR had a cycle time of two years. I don't mean the companies, but at consumer level. Whenever there was a new model, man was dissatisfied with what we had. Consumer society. Now the same consumer society is cooking our goose. Back to normal. .... I hope.

But this are hard times for my children and grandchildren.
Al Patterson said:
I'm going to get the best camera I can afford when nobody is buying,
so please everyone, stop buying!

(That was sarcasm BTW).

Sure, this might slow down some future rollout, but the current crop
of cameras are all very good, and do we REALLY need to buy every new
camera as they come out?

--
Al Patterson
Click to expand...
--

 
I am reminded of **** Armey's quote:

"Three groups spend other people's money: children, thieves, politicians. All three need supervision."

I knew he was right - Rats! I wish "we the people" had listened.

As far as camera gear, I'm still waiting on an updated 24, 28, or 35mm prime lens and will buy when it's available. Rather than upgrade my DSLR I'm more interested in a compact size camera with DX or larger size sensor and an optical view finder. If Nikon (or a reasonably priced Leica) were available I would probably purchase that also.

Larry from San Antonio
 
Great Points!
McCain go home!
Obama go home!

GERALD HILL FOR PRESIDENT!
Gerald Hill said:
Bushes economic stimulus package of last summer was right on but the
amount was nothing so.... Here's the best plan:
Give the 700 bil to the people over 18, = about 250.000 each
Tax at 30% = billions back to government.
All house loans paid off, = no bank closings
All loans paid off = no debt.
Dead beat dad's catch up on child support, = federal SRS relief.
We buy up all these cheap stocks and retire with money to spare.
Problem fixed = Go back to taking photographs.
http://www.ghillphotography.com
--
G. Hill
Click to expand...
--

 
mender said:
That was a depressing tirade. But it's the broadcasting from these
nattering nabob's of negativity, in the financial sphere's, that has
me barking; the sky is falling.
No one wants a Pollyanna now, in these times. So paint it like it is.
As the Rolling Stones wrote, "Paint it Black" Black as night, black
as coal.
Click to expand...
'How long do you think God will keep punishing the financial system?'

Let's get one thing straight dear friends, this was not God, this was greed. Yes, God allowed it, but it was greed that led to the ultimate failure of the financial system, and the crisis we are about to be thrust into, like it or not. It was greed. God hasn't gotten started yet. Keep that in mind over the next few months, God hasn't even gotten started yet.

When the wrath of God is poured out upon a nation, it is nothing so insignificant as a handful of stockbrokers needing to up their heart medication, or people no longer being able to buy that newest and latest toy or gadget. We've not seen hardship in this country for eighty some odd years, but hardship is coming, and we will look back on yesterday and today and think of them fondly.
 
is accurate......wish more people could see past the tv screen.
 
In the time span of history, this financial crisis is a speck and will pass. IMHO, spending power of the consumer will be "back" after it has been curtailed. It would be wise for the camera manufacturers to continue P&D. However, Nikon, Canon, etc...will need credit to continue expansion of their product line. This could create a slow down in P&D.
--
Dejan Smaic

http://dejansmaic.smugmug.com
 
The population of the US is about 300,000,000. Of adults, (18 and over) there are about 215,000,000. The baillout is $700,000,000,000, which is $3,255 for every adult. That's a D700 for every adult. Too bad they are taking the money from us rather than giving it.
--
http://flickr.com/photos/rcaron/
 
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