Chicago BMW Closing it's Doors!

[Ray from Indiana]

I'm glad you got your parts. Odered mine on 6-24, still waiting and Visa has been charged. Not getting satisfaction from the parts guy just asap. If mine doesn't come in by Friday, going with a dispute with VISA's help

[Duane Ausherman]

This, IMO, is part of what we are going through now. A portion of society tends to over extend themselves, and then they need to pay down their debt before starting the whole cycle again. It’s fucked, but that’s what some people do. However, that’s different from needing consumer spending to strengthen the economy.

So Jeff, the thing that I find funny in what you wrote is that it is "part" of what we are going through now. I see it as basically the main deal.

And how is it different than needing consumer spending to strengthen the economy?

The way I see it, people need stuff. They only need so much stuff. We have TV and other advertising methods to convince people that they need more stuff than they need. I mean, come on! If we need stuff, fine. If we need to go into debt to get stuff that TV tells us we need is that really a healthy economy? I say it is consumerism. That is not the same thing as a healthy economy.

In my view, there is only one thing you should go into debt to buy. That is a house. I'm a tough love guy when it comes to economy.

That's right. I wish everybody would save up their money before buying bicycles.

Chuey

Chuey, you are so right. A healthy economy comes from savings, not spending. Production can only happen from investments and that comes from saving. Most people have it backwards......... including both administrations.

[Jeff in W.C.]

This, IMO, is part of what we are going through now. A portion of society tends to over extend themselves, and then they need to pay down their debt before starting the whole cycle again. It’s fucked, but that’s what some people do. However, that’s different from needing consumer spending to strengthen the economy.

So Jeff, the thing that I find funny in what you wrote is that it is "part" of what we are going through now. I see it as basically the main deal.

And how is it different than needing consumer spending to strengthen the economy?

Chuey

What brought down many of the financial institutions is securities brokers passing off junk securities as AAA securities. That's fraud. Investors paid top dollar for shit investments, which unfortunately spread the financial problem from a few to many. Fraud has nothing to do with consumers needing to spend to strengthen the economy.

edited for spelling

[Jeff in W.C.]

A healthy economy comes from savings, not spending. Production can only happen from investments and that comes from saving. Most people have it backwards......... including both administrations.

After the recession of the early 1990’s, the Japanese, overall, saved money and did not spend it. Their economy suffered because of it, and it is one of the reasons (at least so I’ve read) that Japan dropped off the radar of being the major economic in Asia. Ok, they still are a big player, but not where they were in the 1980’s.

Unfortunately, what leads to healthy financial status for individuals, does not always lead to strong economic growth. Spending/buying while not over extending oneself leads to a strong economy. Spending too much or saving too much can lead to economic problems. What is needed is a proper balance between savings and spending. A higher savings rate leads to more funds available for lending, and that’s how savings helps the economy. However, if no one buys the goods, then there’s no reason for a company to expand. It’s kind of a catch-22. The bad news is that many consumers and governments have over extended themselves. Only time and prudent measures can lead us out of this. Unfortunately, prudent measures and politics don’t mix. We're in a damned if you do and damned if you don't situation, so we're hosed in the near future no matter what the government does.

[enigmaT120]

[quote="Chuey
That's right. I wish everybody would save up their money before buying bicycles.

Chuey[/quote]
I'm doin' it Chuey! Saving almost 200 a month in gas helps.

[Steve in Golden]

The way I see it, people need stuff. They only need so much stuff. We have TV and other advertising methods to convince people that they need more stuff than they need. I mean, come on! If we need stuff, fine. If we need to go into debt to get stuff that TV tells us we need is that really a healthy economy? I say it is consumerism. That is not the same thing as a healthy economy.

In my view, there is only one thing you should go into debt to buy. That is a house. I'm a tough love guy when it comes to economy.

That's right. I wish everybody would save up their money before buying bicycles.

What about cars? New cars (and new BMW motorcycles) are so ridiculously overpriced, who can afford to pay cash for one? I know, who buys a new car or MC? Not me, but somebody's got to buy them.

When I bought my mtn bike, it was about $1000. I had the money in savings, but rather than take money out of savings, which I hate doing, I signed up for credit from Trek bikes. The deal was, interest free for the first year so if I paid it off within a year, it was like an interest free loan. And I did pay it off before the year was out. So for me, buying the bicycle on credit worked out great, I didn't have to take money out of savings or wait until I had the $ in hand, the bike store got their money right away, and everyone's happy!

I did pay cash for my recently acquired motorcycle, by taking some money out of savings, the rest came from selling the old MC.