The stock market looks bad.

[hoosier]

Quote:
ok, the guy used to make a half a mill a year...he buys a house, more than likey he will spend alittle more then someone who makes 12,000 a year...point being he LOST his job. Can you afford your mortgage if you lost your job? Have you saved that much?

Yes. OH lost his job the first week of Jan. We have yet to receive a single dollar in unemployment benefits due to the state making a mistake. We have an emergency fund. It is called planning.

 

[conradpdx]

For those that think socialism doesn't work, just ask Alaskans how they feel about those government checks they receive every year from the sale of Alaskan oil?

They seem to like em. Haven't heard of a single one of em refusing to cash it on principle Republican or Democrat or anyone in between.

I'm just glad a few things like Medicaid and Social Security never went private, despite how hard "some large organized group of people" were trying to do a couple years back . Can you imagine how much worse this mess would be if they were tied into the markets right now? Funny how these socialist parts of the government are doing well right now compared to their free market counterparts. Medicare and Social Security might not be in tip top shape, but they don't need any emergency hand out right now.

Why not try a little more socialism? Cause the rest of the industrialized world just has to be wrong. And free markets apparently are so successful when left unencumbered with things like regulation.

Unfortunately most people in the US weren't preprepared with enough Depends Undergarments for all this trickle down.

 

[1acrefarm]

Quote:
Yep socialism works great. The USSR is a perfect example.

 

[Jena]

The USSR was communist not socialist, and it was twisted communism at that.

Ever heard the phrase "all pigs are equal but some pigs are more equal than others" That was how Russia worked, and many other "communist" states. How fast after the fall of the USSR were there suddenly Russian oligarcs? They didn't do that overnight. Plus I never saw the communist leaders riding a bike?

Communism is an Ideal but combined with human nature it will never work.

How about Fascism, where the state tells you how and when you can work/live only to suit the state, not "you" as an individual. Can you smoke? Can you have a drink in the evening? Can you have a take away? How many bank statements do you have to produce to prove you are ill? Ohhh and by the way, when you are ill we can't help you because it is still posible you may work....on the other hand if you are incapable of work because you don't want to or are too stupid to do so then we will keep you and your children, if you have qualifications don't come to the job centre, our staffarenot qualified to help you, and today we are told in the UK that the advice that one glass of red wine which was recommended a few years ago to help you rleax, digest and enjoy your food (that is if you can afford that glass of red wine in the first place), well now guess what! drink that glass of wine and you are going to get cancer.

Also even if you are qualified you are probably over qualified and we only want to provide jobs for the morons, we can handle them, all the other jobs are for people from Eastern Europe, they don't ask questions. lol... they have spent their life screwed up by communism but we love them.


Sorry for the rant, but here in the UK it is the truth.

I didn't "drop out" in the 70s but I am really doing my best this time.

 

[Mahonri]

Once the US government has control of banks, (which is happening right now) what control does anyone have over their savings?

Was doing taxes last week. I don't have the majority of my retirement in mutual funds, but the small part that I did have in them, the value was cut almost in half... and it continues to drop. I told DW I should pull it all out last year and didn't. Goodbye money.

Real estate in AZ has dropped in value 50% in the past 18 months... we won't hit bottom for at least another 4 or 5 months, BUT sales are starting to pic up a tiny bit... good sign.

Unemployment here continues to increase, this will push real estate down further... that's part of the cycle... and should help us rebound eventually.

Crude is down but gas prices go up? Makes no sense to me.

Bailouts 1, 2 & 3 have devalued the dollar to almost 25% of it's previous value. Get ready for super inflation.

New Treasury secretary is best buddies with old treasury secretary. Hmmm?

What gumps said.

Get out of debt.

Store food, water, some small bills cash for emergencies, fuel if possible. Get a generator that can run refrigerators, heaters or AC units.... store fuel for it.

If the economy runs into one of underground barter, (many are predicting this) we'll all be grateful we have chickens and eggs.

... and then our country becomes totally bankrupt as there is no way the government can keep tabs on unregulated trade... they have put their hands into 'barter groups" but, one to one trades will kill tax revenues. I see more "scrip" being printed by enterprising young businesses.

 

[gapeachy]

I agree with getting out of debt...we have paid our credit cards off ....but on the other hand if everybody is getting out of debt means no credit and not buying major investments wont that make the economy worse?....buying and selling is what keeps it all going right?

 

[seedcorn]

What we have in this economy are 3 things.....

1) The working poor that can get out of debt or are out.
2) Those that are in so deep, they see no reason to not get in deeper.
3) Coorporate America who's top managment who have run the companies into the ground w/high managment costs but they personnally have their money/assets safe guarded so that their world goes on. Their companies are going bankrupt but yet they give themselves bonus's/raises for doing such a great job.

When America allowed companies to go coorporate so that the people making decisions had no reprocussions to their actions, it was the beginning of the end.

 

[Jena]

Absolutely.

Drives me nuts

Lol.. and I am in the UK, but we are suffering the same, they are just not accountable.

 

[cajunlizz]

what happens to all the stocks , bonds , 401K's , IRA's , ETC when our DOLLAR is not worth the paper its printed on ?

Then millionaire's and Billionaire's will be just as broke as the homeless .


THE USA borrowed so much money from China that no way we can ever get out of that debit and they charging 35% interest .

All they have to do is CALL THE NOTE and they will .

You think everything that most people are buying now comes from China ? Ask yourself why

THEY BASICALLY OWN THE USA ALREADY !!

 

[I have WHAT in my yard?]

Yes, China already owns most of the US debt and this is a HUGE worry. But, they won't call our note because they need us as a market.


The bailouts are nothing compared to what lack of transparency and rampant evidence of corporate greed and malfeasance have done. Other countries and investors count on the US dollar because it is stable and it is stable because our government and infrastructure are stable.

Currently our infrastructure is NOT stable because investors are afraid everyone is cooking the books and are corrupt. Until they begin to believe otherwise they are keeping their money in their pockets. This isn't about confidence in the markets it is about confidence in the businesses.

And I am afraid it may be too far gone to be saved by anyone.

http://www.chrismartenson.com/crashcourse