Comments on: Tax time troubles

By: eirosie

eirosie — Tue, 24 Nov 2009 04:06:49 +0000

Has anyone noticed that the sign is down at Luxury Motors and that their inventory is dwindling? There is no longer a location in Downers Grove at their website at
http://www.luxurymotors.com/dealers-location/dealerlocations.html

By: Mark Thoman

Mark Thoman — Tue, 10 Nov 2009 23:22:55 +0000

Thanks Scott!

By: Scott Theisen

Scott Theisen — Tue, 10 Nov 2009 20:03:05 +0000

Mark…

If you want to know the “why”…read Ludwig Von Mises.

Even the Wall Street Journal is catching on to him (finally). They ran a recent article, “The Man Who Predicted the Depression”.

Check it out.

Editor’s note: Click here to see the story.

By: Barney Franks

Barney Franks — Tue, 10 Nov 2009 14:27:54 +0000

Consumer debit is down because the credit card companies have lowered peoples credit limits to their outstanding balances and raised the interest rate to 29.99%. All because congress allowed them to do so.

By: Victor Laslo

Victor Laslo — Tue, 10 Nov 2009 06:04:21 +0000

Consumer debt is down because of de-leveraging, people are choosing to pay down debt as opposed to take on new debt or invest. If asset prices are rising (homes, commercial property, internet stocks) people are willing to take on debt to buy assets if the return is greater than the cost of debt. The problem becomes that when investments turn down in price, your share of capital is eaten up faster because of leverage. Right now if people are given more money, tax refunds etc., they use it to pay down existing debt rather then buy new items. That is why it is so difficult to simulate the economy when leverage is high. It also has a “feel good” factor, if you are confident in your job, feel your income will keep rising, then you are comfortable taking on new debt. With unemployment rising through 10% people do not feel good.

By: Mark Thoman

Mark Thoman — Tue, 10 Nov 2009 04:46:47 +0000

And credit card debt could be down because banks won’t give spendthrifts cards anymore and puts them on debit cards instead? So they have to put more money into savings to spend on their debit card?

I don’t know the why gentlemen, just that consumer debt is down and savings are up.

By: Earl McGuire

Earl McGuire — Tue, 10 Nov 2009 02:35:17 +0000

Mr. Walz wonderful point, but I still enjoy most of Micheal Moore’s work or fiction depending on your point of view.

By: POV

POV — Mon, 09 Nov 2009 23:42:50 +0000

Is there a total dollar figure for how much in arrears the taxes are here in DG? Isn’t that also a problem for the schools for property outside the TIF districts?

By: Chad D. Walz

Chad D. Walz — Mon, 09 Nov 2009 22:04:45 +0000

That big fat RICH Guy (Dave Ramsey) is making millions through the use of capitalism. This guy is a fraud.

By: Earl McGuire

Earl McGuire — Mon, 09 Nov 2009 21:45:03 +0000

I apologize for getting Mr. Dave Ramsey’s first name wrong. I know for a fact his financial advice on home personal finance works, and (Not that my opinion matters but) I agree with what he thinks is going to happen in term of a market rebound with real estate leading the way. Dow hits 13 month new high today. I can tell by Mr. Scott Theisen’s and Mark Thoman’s remarks on this subject matter I better quit typing (and deeply regret I slept through economics 101 at North.) This is a question or thought of mine I know someone or somebody is going to check me and make this the classical right or left political matter but does Michael Moore’s documentary Capitalism: A Love Story apply here or Is Earl pitching a wild curve ball in to the stands?