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HALLETT BOY

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Tighten your belts boys , more banks are eliminating personal loans and even checking accounts . Govt says around 4% inflation , when in reality its closer to 14-16 %
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DWC

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Boats are still moving at the right price…
No doubt it’ll slow down at some point. 2020 was insane by everyone’s standards. My guess is that the West will slow down a bit more than everyone else. End of the season and Mead/Powell limited access aren’t helping. There were a bunch of newbies that jumped into the hobby. The reality that it’s just not the payment but add in storage, maintenance, GAS and repairs.

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Done-it-again

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Boats are still moving at the right price…
No doubt it’ll slow down at some point. 2020 was insane by everyone’s standards. My guess is that the West will slow down a bit more than everyone else. End of the season and Mead/Powell limited access aren’t helping. There were a bunch of newbies that jumped into the hobby. The reality that it’s just not the payment but add in storage, maintenance, GAS and repairs.
Those new people will not be paying storage or maintenance. That boat will be left outside and no yearly service and only service it when it breaks.

When it breaks they have some choices to make. That happens after the 2-3 year mark when they bought it and the impeller goes out and they need to spend $$$$. That’s when things go for sale.

I think we are still a few years out till that all happens.
 

Flatsix66

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If people bought a boat using a Wellsfargo personal loan then it would be called, forcing a fire sale. Could be interesting, I hear other banks are following this policy.
 

Done-it-again

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If people bought a boat using a Wellsfargo personal loan then it would be called, forcing a fire sale. Could be interesting, I hear other banks are following this policy.
its not like the people who had a line of credit with Wells now need to cough up the money they had outstanding in one lump sum. It’s just that their interest only now became a pay back loan with interest in a time frame. Yes it will cost them more $$$ every month maybe a few hundred, just stop eating out 2 nights a month.
 

rivermobster

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Tighten your belts boys , more banks are eliminating personal loans and even checking accounts . Govt says around 4% inflation , when in reality its closer to 14-16 % View attachment 1031450
Eliminating checking accounts??

So what happens when you get a paycheck? Where are you supposed to put it?

Com'on man. Let get serious here!

😝
 

lbhsbz

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Boats are still moving at the right price…
No doubt it’ll slow down at some point. 2020 was insane by everyone’s standards. My guess is that the West will slow down a bit more than everyone else. End of the season and Mead/Powell limited access aren’t helping. There were a bunch of newbies that jumped into the hobby. The reality that it’s just not the payment but add in storage, maintenance, GAS and repairs.

View attachment 1031460 View attachment 1031461 View attachment 1031462 View attachment 1031463
Shame to see Suck 'em up too getting sold....that belonged to some friends at the river when I was a kid....I rode around quite a bit on it.
 
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76sanger

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We have another 6 months of good times ahead of us, maybe a year of marginally decent times. Thank goodness we are still thriving on Trump economics! But with that said, Non president dumbass is still signing and passing bills to squall the economic growth that we have enjoyed for four plus years. As inflation is rapidly increasing, we are heading into some tough times ahead. As Hallet Boy said..... Tighten your belts up people.
 

OldSchoolBoats

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If people bought a boat using a Wellsfargo personal loan then it would be called, forcing a fire sale. Could be interesting, I hear other banks are following this policy.
They aren't originating new personal loans and personal lines of credit have been shut down. The money is still owed, based on thr agreed upon payment schedule. If they were to call notes in good standing for no reason, they would be sued out the ass!!

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GRADS

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Buy low, sell high is not just for the stock market. 😜

When normally depreciating assets become appreciating it might be time to sell.
 

GRADS

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I wish I had a time machine so I could fast forward to RDP 2026 and see all the threads about people reminiscing about how their 25' Daytona's that's now worth $40K was worth $100K in 2021 and how they should have sold it then. Ahh the good old day.🤣
 

Havasu blue label

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They must of called that special meeting after seeing more money going out then coming in it’s coming but don’t worry you have credit line
 

bldrinker

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Lol you guys want the economy to fail so bad it’s comical


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No, we just know that all good things come to an end. Everything can’t keep going up. Just like the stock market there are pull backs.

Life isn’t all unicorns and rainbows.

I hope it don’t happen, but only a fool would not be prepared for it.
 

Havasu blue label

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It’s just like that toy you been waiting for it’s coming . Oc fair speed is taking deposit on el jeffe
 

LargeOrangeFont

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No, we just know that all good things come to an end. Everything can’t keep going up. Just like the stock market there are pull backs.

Life isn’t all unicorns and rainbows.

I hope it don’t happen, but only a fool would not be prepared for it.

Everyone knows this. However calling for financial armageddon every 18 months is stupid. There is a middle ground, and we are in it. No one is going to argue there is growth and recession. We are still on a upward trajectory out of recession, but not out of the woods.
 

Waffles

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I'm guessing the 10.1K people that gave that post an angry face are all RDP members...................cuz they're angry. 😁
I can see how you can relate to him on so many levels now.
Youre both failed laughing stocks of society, you both share the same iq as room temp milk, and you both have the same hairlines. It all makes sense now! 😂

Updated as of right now for the lulz 😂

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j21black

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Wells Fargo just increased my line of credit without asking. I guess I'll have to call and tell them no thanks.
 

LargeOrangeFont

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Wells Fargo just increased my line of credit without asking. I guess I'll have to call and tell them no thanks.
Also mention that the economy is going to collapse in 18 months.
 

bldrinker

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Everyone knows this. However calling for financial armageddon every 18 months is stupid. There is a middle ground, and we are in it. No one is going to argue there is growth and recession. We are still on a upward trajectory out of recession, but not out of the woods.
Financial Armageddon is a bit dramatic.
 

LargeOrangeFont

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Financial Armageddon is a bit dramatic.
There is a thread every month for the last 5-6 years about how 2008 but worse is coming in 18 months.

THAT is a bit dramatic. GRADS starts one every time AAPL drops 5 points. 😂
 

Havasu blue label

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Sir they just don’t add more credit to your existing line they ask then you say yes but cool story
 

Havasu blue label

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We all cut back 6 months ago it’s going to be slow and hard for those that didn’t prepare for a set back like 1995
 

bldrinker

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There is a thread every month for the last 5-6 years about how 2008 but worse is coming in 18 months.

THAT is a bit dramatic. GRADS starts one every time AAPL drops 5 points. 😂
I don’t recall anyone saying worse than 2008. I have been saying fairly consistently that it’s not going to be huge just a correction.
I want things to keep going up but I know it’s not going to.
I’m thinking interest rates and house prices coming down will have an impact.
 

LargeOrangeFont

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I don’t recall anyone saying worse than 2008. I have been saying fairly consistently that it’s not going to be huge just a correction.
I want things to keep going up but I know it’s not going to.
I’m thinking interest rates and house prices coming down will have an impact.
Every single time it comes up it is “2008 or worse” or “it feels like 2006 again” “this is what happened right before the last crash”.

Interest rates aren’t going anywhere in the near term. Housing is going to cool off, it’s already started to. Unless we lock down again, we will see a slow economic increase, at least for awhile.
 

ChumpChange

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Isn’t Wells only tightening the reins because of the sanctions? Pretty sure they have a limit on balance sheet growth… @ChumpChange ?
Pretty much sums it up. They had a cap on asset size which prevented them from growing. Even when COVID hit, they had to get a waiver to process PPP loans as helping those customers would have put them in violation.

They aren't originating new personal loans and personal lines of credit have been shut down. The money is still owed, based on thr agreed upon payment schedule. If they were to call notes in good standing for no reason, they would be sued out the ass!!

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The problem with the personal lines payment schedule is they are generally one year lines which are up for renewal each year. So unfortunately, terming out the lines of credit into any type of amortizing loan (generally three years) is going to be more than the interest only payment they were in.
 

Bigbore500r

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When the forgiven PPP cash is all spent and done making the rounds......
And the EIDL loan cash is all spent
And the extra unemployment benefits finally stop trickling
And people file their 2021 taxes and have to pay back the child tax credits they received that they didn't qualify for
And the 30 year EIDL loan payments start coming due monthly after the 1-year grace period
And the Mortgage forbearances come due
And all these renters that are squatting under Covid eviction protection finally get purged onto the street
And the Price of gas finally bumps $5
And the inflation continues and the reported "actual" inflation numbers catch up to whats really happening
And the dust settles....

That - is when you will see the shit hit the fan.

I'll give it 12 months. I hope i'm wrong. The money printing machine is gonna run out of ink at some point
 
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530RL

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GDP is inflation adjusted back to pre-pandemic levels.

Growth should be net of inflation in the 4 to 6 percent range for the rest of the year.

Demand far exceeds supply of materials, ability to deliver materials and labor in most industries.

Price increases don’t seem to be affecting demand.

If there is a slowdown it doesn’t seem like it will effect most workers that much unless it is a severe slowdown as the backlog of work is so large.

We simply have demand that exceeds any ability to produce, ship and deliver a supply to meet that demand. A cut in demand would certainly be a welcome sight for all our businesses where we simply can’t meet demand and keep going at this pace.
 

LargeOrangeFont

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When the forgiven PPP cash is all spent and done making the rounds......
And the EIDL loan cash is all spent
And the extra unemployment benefits finally stop trickling
And people file their 2021 taxes and have to pay back the child tax credits they received that they didn't qualify for
And the 30 year EIDL loan payments start coming due monthly after the 1-year grace period
And the Mortgage forbearances come due
And all these renters that are squatting under Covid eviction protection finally get purged onto the street
And the Price of gas finally bumps $5
And the inflation continues and the reported "actual" inflation numbers catch up to whats really happening
And the dust settles....

That - is when you will see the shit hit the fan.

I'll give it 12 months. I hope i'm wrong. The money printing machine is gonna run out of ink at some point
There are talking about new lockdowns. If that happens, half of those items will be kicked down the road by the .gov.

They will excuse the tax credits you didn't qualify for.
They will extend forbearance, foreclosure, and eviction protections.
They will excuse the EIDL grace period further.

CA isn't going to ask for the $30B back they gave away in fraudulent unemployment claims.. And they just started paying everyone again no questions asked, so get ready to hear about another $30B being paid out fraudulently.

The .gov is not going to let another mass eviction/foreclosure event happen again... at least not under Biden.
 
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