Drag Racing's Perfect Storm? (1 Viewer)

["Dr. Dirt"]

Bobby, remember being able to get 16% on a CD? People think you can't afford a home loan now, what if we were paying 21% or 22% for a home loan and 30% for a credit card?

Remember the worries of double digit inflation, double digit unemployment? Historically unemployment, interest rates and inflation are extremely low. Things are not good in certain sectors but this is not near the worst the economy has been.

I remember it all too well! I was building a new custom home and my permanent loan interest rate was 19 3/4% although my construction loan was 21% just as Jimmy Carter left office. Thanks buddy!
Those who think these times are bad have little sense of history. Interest rates are lower than anyone could possibly predict. Unemployment is still way in the single digits and banks have more money to lend than any time in the past two decades.

It's the news media that deserves the kick-in-the-crotch here. They know that good news can't sell so they drone on about how bad things are. There are way too many good things happening to waste our time looking for reasons to cry. Watching the news today is akin to being checked and tested daily for cancer.

 

[rocketman]

It's the news media that deserves the kick-in-the-crotch here. They know that good news can't sell so they drone on about how bad things are. There are way too many good things happening to waste our time looking for reasons to cry. Watching the news today is akin to being checked and tested daily for cancer.[/COLOR][/QUOTE]

Your right about that Bobby. I think they are trying to gin up the election. After all, unemployment is as low as it can get. It will all depend on gas prices.

 

[NHRADeuce]

If the top brass in Glendora took a paycut for what little they do then the payouts would be higher.
JMO
Paper pushers making $100,000+ for such a small organization compared to like Microsoft, Apple, Coca Cola etc.

Not that I am a big fan of how much the NHRA brass makes, but the salaries are totally in line with what other execs make at $100M a year companies. $450k a year is a ton of money to you and me, but for a CEO that's a fraction of what execs make at MS, Apple, Coke, etc. Even if you took all of those salaries the difference in payouts would still not equal what Nascar pays out for just the Daytona 500. The only way that NHRA payouts are going to increase any significant amount is to get a TV deal that pays for the right rather than NHRA paying for the air time. Even if the payout was only $1M per season, it would free up an additional $8M that is being paid for air time now. $9M would be a 67% increase in the current purse structure.

In any case,this year will be tougher than it has because the media and politicians want everyone running scared. A lot of people are a little scared of what changes the next president is going to make (especially if it's Hillary!!) Things should get better after the election.