Economy

[TheOLDNewChick]

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Heard that!

 

[maplesky7]

sniff sniff....

hmm...I thought it was just pc scent and those chickens he's been processing.

 

[Rosalind]

If I recall correctly, CitiBank merged with Travelers Insurance, Primerica and SmithBarney illegally in 1998 to create Citigroup. This was, at the time, completely illegal and in violation of the Glass-Steagall Act. The Glass-Steagall Act was enacted during the Great Depression because of exactly the mess we're facing now: banks insuring each others' debts with money they don't actually have in cash and cooking up crazy swaps and tranches and hallucinatory money that does not actually exist. CitiGroup lobbied Congresscritters and managed to get the Glass-Steagall Act repealed (this was a bipartisan effort--both Donkeys and Elephants agreed) two years later.

I'd say that since this was clearly their doing, and since they were in fact doing illegal crimes for two years, we should throw them in jail and seize the CEOs' private assets for the government. After all, if we can seize the assets of drug dealers, we can seize the assets of the buggers who are wrecking the economy. No cushy country-club federal pen, either, I want to see those guys in the county pen where Rocky tells John Reed that he sure does have a purty mouth...

 

[Mahonri]

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I just noticed that she is beautiful Mahonri!!!

THAT'S a ROO!

 

[maplesky7]

Let's call him Snickers.

 

[B. Saffles Farms]

I was on my way to buy a safe after I read this. But before I got there I realized if I bought the safe, I wouldnt have any money left to put in it. So I think Ill just keep the few dollars I have in my pocket.

 

[Mahonri]

That's right PC.. the paper money will be totally worthless and then they'll switch us over to the AMERO. The currency that will be used in the US/Canada/Mexico/Ecuador etc...

That's why foodstuffs and things we can BARTER will end up being the new economy.

The more I can barter at present the better off I'll be because then I won't be paying as much in taxes which with the last act in congress just cut my take home almost in half... Thanks to Curly, Bo and Harry!

 

[Mahonri]

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We named him... drumroll... what else? BLUE!

 

[Guinea Goonie]

Sigh, I wish I could get to my safe deposit box. Although there is nothing of real value, I have a lot of papers and family stuff there.

I do not have a vehicle that will get me there nor the time, the money or the inclination to do it.

In the great depression the bankers closed the doors and raided the safe deposit boxes and took off with the loot. Let us all hope it does not get this bad.

 

[Mahonri]

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AMEN! but it might, and an ounce of caution and preparation, is worth a pound of "sniff, sniffing".

If you are prepared, you don't have to worry.

Be prepared.