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Markets not as bad as our media want us to believe

By
Mortgage and Lending with Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 NMLS ID# 158606

Despite what our media wants us to believe....the U.S. economy and Wall Street seem to believe that our economy isn't nearly as bad as the media outlets want us to buy into.  Look at the headlines from Bloomberg over the last week;

Wall Street Financial News.

 Bloomberg Market News Minimize

Goldman of Asteri Says Rating Agencies Did `Poor Job'


Morris of HSBC Says U.S. Economy Is `Holding Up'


Alex Patelis Says Sovereign Funds Promote Capitalism


Parris, Former Ambassador, Says Turkey Has Limited Oil


Mundell, Economist, Says China's Banking System `Weak'


Kantor of Barclays Capital Doesn't Expect U.S. Recession


Eichengreen of UC Berkeley Sees `Faster' Yuan Rise


Morse of Lehman Brothers Sees Higher Gasoline Prices


Levitt Says Paulson Is `Proactive' in Calming Markets


Komileva of Tullet Prebon Says Global Economy `Integrated'

Taking a look at most of these articles, you'll find that the US economy is moderate or on "cruise control," not humming along at a mach one speed, but not stagnant either.  Other countries and banking systems believe that as well.  Look for market rebounds sometime soon.
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Comments(27)

Alan Kirkpatrick
Austin Texas Homes - Round Rock, TX
Alan in Austin

Great post.

Thanks for putting out the good news. Thanks also for posting comments on my blog. Hope you have a great week.

Oct 30, 2007 07:21 AM
Rod Hawkins
F&M Mortgage NMLS ID # 628400 - Clarksville, TN
I agree, the media IS making this more than it is.  They have people scared to buy in my market.
Oct 30, 2007 08:30 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Candi....isn't that true....You would never never ever leaving the home.

Karen....when hell freezes over may never happen as the media will pull their own teeth prior to reporting something good.  Too bad, huh?

Alan....You rock...thanks for the contact.

Rod....that's the theme brother.

Oct 30, 2007 09:27 AM
Pete Tsakiris
Countrywide Home Loans a Division of Countrywide Bank, FSB - Saint Charles, IL
Oct 31, 2007 03:29 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production
Thaks Pete....nice to hit it once and a while.
Oct 31, 2007 04:07 AM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

Larry,

Very nicely done.  I followed the link on Pete's post...very informative...awaiting the 2:15 update...then again, I'll be glued to CNN...

 

Oct 31, 2007 04:28 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production
Karen...we'll see......all are holding their breath.
Oct 31, 2007 07:21 AM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

When you hear, please post it on here as I will check back...cleaning my porch in case the hurricane decides to come this direction.

Karen

Oct 31, 2007 07:23 AM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

Well we only got 1/4 point...   :-( wanted 1/2...

 

Oct 31, 2007 08:02 AM
Esko Kiuru
Bethesda, MD

Larry,

If you base your understanding of our economy on the headlines and a few sound bites, then you think it's pretty bad. True, the real estate sector is suffering, yet the overall economy so far is doing rather well, if you dig a little deeper. Good reminder to all readers.

Oct 31, 2007 09:34 AM
Rob Baldwin
US ECO-GREEN REAL ESTATE INC. - Santa Clarita, CA
REALTOR, Santa Clarita

Hey guys, we have to accept the fact that the media will only report negative things, positive does not sell time slots. For those Eagles fans, go back and listen to Don Henleys "dirty laundry". It says it all.

 

Oct 31, 2007 09:59 AM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!
I heard on FOX news that they could give us another 1/4% in December?
Oct 31, 2007 10:58 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Karen.....25% it exactly what it is....I do look for them to drop it another .25 in December.

Esko - - Good points....we do need to dig deeper

Rob....funny.....I have been following this.  It so important for all of us stay away from the headlines....

Karen.....I believe it in December

Oct 31, 2007 03:11 PM
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing
the media is almost useless, except to alert us to do more research on the 30 soundbites that they deliver.  The bigger issue behind all of this is the the consumer does not make enough real wages to keep the housing market alive.  The discrepancy between housing prices and earnings are extreme, this is the underlying issue that I rarely read about.
Oct 31, 2007 04:30 PM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production
Kate...you are so on it.  It's all soundbites.
Nov 05, 2007 08:51 AM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

Larry,

I do not understand the rationale, I have 5 offers on the table right now...My smile just keeps getting bigger and bigger...when they close...I will be ecstatic!

Nov 05, 2007 08:58 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production
Keep is up Karen...you change what the media says by your activities alone.
Nov 05, 2007 09:01 AM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!
Thank you, I intend to do so.  Thank you for the encouragement...  :-)
Nov 05, 2007 09:06 AM
Josh Perrington
Arkshire Financial - Marietta, GA
Inspiration goes a LONG way & thanks for being a positive influence rather than the media followers!
Jan 17, 2008 04:10 PM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Thanks Josh....keep the faith huh???

Jan 19, 2008 01:23 PM