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Once again,on credit? Do you know how many people are actually paying CASH?
Well yes, actually I am still buying and paying cash. But that is what I have been doing for years, and that is what allows me to continue, as I'm not saddled with debt and the credit card companies raising interest rates on me while shrinking my credit line.
Had dinner out last night with friends. They too are still spending, and with cash, as they too have always followed the same principle. I'll buy it when it I can pay cash, and only then.
The news media is telling us that we are currently in the biggest economic collapse since the 1930s. But:
Most of us who want to work are going to our jobs every day (unemployment is up but near an historical low)
Our bank accounts are secure (unlike the 1930s)
The American Dollar is rising against foreign currencies
The world economic leaders and federal reserve are working to solve the problems (unlike the 1930s)
Property values have not changed much in the last six months
Business are still making relatively good profits
Our ATM and credit cards are still working
There is still lots of things to buy and people will still be buying things for Christmas
The Airports are jammed and my local travel agent is still getting lots of calls.
People are still going to the stores and buying computers, DVDs and Plasma Televisions.
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Sure, times are tough for some of us but this is hardly like the Great Depression or the Reagan Recession in the early 1980s.
1. Yeah, tell that to the hundreds of thousands who have been laid off, most of which are unemployed still, or are in jobs paying a fraction of the wage.
2. Your bank account is secure? You really think that? You think the Feds would be able to pay you if there were a run on the banks like in the 20's and 30's? There are 100's of billions of dollars of deposit assets "insured" by the federal government. Where exactly would the US get that money?
3. After sinking to all time lows and being threatened to be replaced on the world market by the Euro, the American dollar really doesnt seem to be able to sink much lower, so it "rising" isnt news.
4. Yeah, theyre doing such a grand job of that.
5. Yes, actually they have. Property values continue to sink.
6. Yeah, oil companies are making good profits. But while you werent looking, a bunch of banks went down in flames, the US auto industry is depending on government bail outs, about 90% of retailers reported poor earnings or losses, and giants like Circuit City actually went bankrupt.
7. So what?
8. Obviously you arent involved in retail or transportation. Because if you were, you would have noticed how many truckers have parked their rigs and walked away from them, and how many sit for days or weeks between loads. People are NOT buying big ticket items, at all.
Anyone else notice what's wrong with this picture? All the programs in the world will not help if people don't change their behaviors.
What past century did you time warp in from? That means hard work and thinking and junk. uhhhhhh what's up with dat? I'd rather watch the latest sitcom which is about the same (and as lame) as the last 5 I watched...but so what? It's easy. mushy mush. You crazy or something? Now keep quiet, go nuke up some chicken nuggets and pass the remote; the "American Idiots" talent show semi-finals are coming up and I love how they make fun of the stupid ones, heh heh heh
The news media is telling us that we are currently in the biggest economic collapse since the 1930s. But:
Most of us who want to work are going to our jobs every day (unemployment is up but near an historical low)
Our bank accounts are secure (unlike the 1930s)
The American Dollar is rising against foreign currencies
The world economic leaders and federal reserve are working to solve the problems (unlike the 1930s)
Property values have not changed much in the last six months
Business are still making relatively good profits
Our ATM and credit cards are still working
There is still lots of things to buy and people will still be buying things for Christmas
The Airports are jammed and my local travel agent is still getting lots of calls.
People are still going to the stores and buying computers, DVDs and Plasma Televisions.
-------
Sure, times are tough for some of us but this is hardly like the Great Depression or the Reagan Recession in the early 1980s.
Location: where you sip the tea of the breasts of the spinsters of Utica
8,297 posts, read 14,163,488 times
Reputation: 8105
Lol ..... the opening post was made back in September, before things got really hairy. But even back then I was forecasting catastrophes and doom!
I have to go back and look at when I posted my first thread here, The Doomer Thread. I think it was back around then.
By the way, I'm still advising the stockpiling of food, I may or may not do a thread on that later. Credit hasn't been available for many farmers, and they can't plant without it. Also California is in a drought and irrigation is going to be restricted, and they produce most of the food in this country.
Except your retirement savings had taken a 50% hit. Especially if you are a baby boomer.
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