Posted by Dave Jensen on Saturday, May 31, 2003 at 11:43AM :
In Reply to: Re:Two Power Wagons in every garage!!!! posted by Jerry Henry on Saturday, May 31, 2003 at 11:13AM :
Dunno, I was living in Korea 'in '93. The economy there had slowed (in growth) quite a bit, and it was amazing to watch people still scrambling to buy cars and homes/apts that clearly exceeded their expectable incomes. I got laughed at when I said there was no way that could continue, but the economy basically collapsed there a few years ago.
I think we have a similar situation here, but there won't be an IMF bail-out for the US. My neighbors are all driving new dsl rigs and building new places with bank money. The fire district I volunteer with is operating on the same basis, based on expectations that revenues and allotments will never decrease. "Never pay cash, finance for as long as possible" must be some kind of a motto nowadays. I'm going to go on record and say that it can't continue like this forever.
As to the present economy, short term, it is clearly an old truck buyer's market. Wish I had a fat wallet and a couple of aircraft hangers.
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