Is the Era of the $30K Millionaire Over?

[Sangre Naranjada]

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[Seattle Husker]

Conspicuous consumption is out. Americans are actually getting satisfaction from saving money according to the WalMart CEO last week. While this is a good thing for our longterm interests this is very bad for the economy.

 

[DeadHorse]

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[D_Wreck11]

The shiny shirt has lost some of its luster. Cheap is the new chic. Long live the chic.

 

[gardere_owns_OU]

oil has plummetted to being reasonable again... but shipping costs have not receded. milk is still $5/gallon and produce prices haven't come down either. why?

is it because they know we'll pay for our milk and produce?

walmart can change it all. if walley world lowers their prices on goods, local grocery stores will have no other choice but to follow.

am i right? i just dont' understand how this crap works.

for the record, f walmart.

 

[Ramathorn]

you are right GOO.

 

[DeadHorse]

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[tropheus]

credit is not cheap based on spreads, but I'm not talking home mortgages, instead business and personal credit.

 

[fratboy_legend]

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[ousuxndallas]

Common sense is such a hard thing to have, yet so valuable.

1. $1.5 million for a 4/3, 2500 SF house in the Bay Area. Common Sense says "ridiculous". Market is collapsing as we speak in this area, Miami, Vegas, etc.

2. $200 for a t-shirt by Ed Hardy. Common Sense says "ridiculous".

3. $250 for a pair of blue jeans. Common Sense says "ridiculous".

These are but a few examples of how ridiculous things have become in this asset bubble. It brings back memories of other examples of ridiculousness in the late 90's:

1. XYZ.com should be valued at 100x revenue, not cash flow. Common Sense says "ridiculous"....

 

[Hornin Hong Kong]

"What are they going to do over the next year if all they can buy are Wranglers from Wal-Mart instead of their Seven jeans? "

Actually if you care about such things now is the time to buy seven jeans or whatever your personal 'seven jeans' sort of thing might be.

Inventories are getting cleared - you could get those 7 jeans 70 % off.

Right now you should be wandering by the 'whatever you've always wanted store' and bidding them half of their ale price with cash in hand. You might be surprised.

 

[DeadHorse]

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[johnny chimpo]

These types may have to start shopping at ... gasp ... Steinmart.

 

[Bookman]

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[general35]

oil has plummetted to being reasonable again... but shipping costs have not receded. milk is still $5/gallon and produce prices haven't come down either. why?
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theoretically, many large businesses bought a lot of fuel based on high gas futures when oil was really high. the investment banks kind of detroyed the commodities trading area by investing in an area designed for business consumers so that they could get a fair price on these commodities....anyway, prices are beginning to drop the longer the prices stay down...see airlines.

 

[UTIceberg]

Where's Cash M. in all this? Still rocking The Loon? Wasn't he supposed to come out with his own TV show?

 

[Pepper Brooks]

If the era of the 30k millionaire is over the economy of Dallas is going to come to a grinding hault.

 

[Ignatius]

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[killerfrog17]

Ed Hardy is so ******* lame.

 

[LonghornSurgeon]

Let me know where you find these 7 jeans for 70% off. I have yet to find such luck..... not being sarcastic either.

 

[ppahorn]

I miss the Dallas / Houston trash talking. Am I just too old now and don't keep up on the message boards or has that pissing contest subsided?

30K millionaire = dallas commercial real estate. I love it.

 

[VYFan]

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