Steady, Mainers (Washington: insurance, credit card, loans)

[starwalker]

Originally Posted by Elcarim

Just got back from the after school run, and saw that we're now down to 2.92 from 2.99 yesterday. Nice trend!

Sams in Bangor 2.94 this afternoon and me with a tank full (bought at 3.29!)

[Northern Maine Land Man]

We must have departed Sam's at about the same time.

[starwalker]

Originally Posted by Northern Maine Land Man

We must have departed Sam's at about the same time.

Don't think so... I hit Sams on the way back to Corinth, after my visiting...

[mollysmiles]

Originally Posted by starwalker

Sams in Bangor 2.94 this afternoon and me with a tank full (bought at 3.29!)

I was there at 6:30 tonight and was so happy to see that price! It was $2.99 in Eddington, here in Calais it's still $3.25!!

[dramamama6685]

Hovering around $3.05 here. Dh says the will wait until after the elections to go back up!

[Northern Maine Land Man]

Gas prices are fine, but I'll update this thread from time to time to reflect the original post. Maine people were down on September 11, 2001 along with everybody else. We all wondered what was coming next. There was a ceremony in New York this September 11th to remember those who lost their lives. I know some people who got permission to sky dive over the event. It was not announced beforehand and the people on the ground were amazed when they looked up. Take a look at the link.

Norman Kent Productions » September 11 Memorial

After 9/11 there were flags everywhere. THis might be a good time to fly the flag. We don't need to save them only for special occasions.

[K-Luv]

Originally Posted by Elcarim

Are you thinking we need to keep our money in the mattress? Someone said the other day it may not be safe now to trust the banks with our savings. My grandma used to keep all her real money in money pouches all over their house, and in one handy mason jar in the back of her pantry. Is that where we're headed?

What would be the point? If the economy completely tanks, money in your mattress or money in the bank would still be worth the same--zero. An interesting note is that it could be worth something when all of this is over with (assuming that it gets that worse), if for anything as a collectors item. The best thing to do right now is to leave your money in the bank and keep your investments, or to at least move them into stocks that will be able to ride this out.

The Great Depression was a result of WWI (Europe went broke and couldn't pay America what it owed, people freaked out that their stocks were going to be worthless, so the cashed them out in hopes of getting some money out of them. Then the stock market crashed.). And as the saying goes, those who do not learn from history are doomed to repeat it. And that is exactly what is happening now. People are freaking out and pretty soon maybe they will start hoarding money too. The ONLY way to keep the economy from tanking is to continue to participate in it. Pull out your money and you will effectively pull the floor out from underneath you as well.


As to the gas prices.....a while ago I posted in the forum what will happen, and I was right!

Back in the day when gas reached $3.00 a gallon, everyone moaned that it was too expensive, they couldn't afford to drive anymore, yada yada. Then it went up to $4.00 and people moaned even more. But they still bought the gas. Now that it is down to $3.00 again, everyone is breathing a sigh of relief. All of a sudden gas seems affordable, even though it was considered through the roof the first time that it hit $3.00. I ask you this: are you in a better spot financially now then when gas first reached $3.00 and you were complaining that gas prices were out of hand? Probably not because it was not that long ago. It is a psychological trick that works extremely well with consumers.

[Northern Maine Land Man]

There is a more cautious approach to our current situation.

The Dow is where it was about 5 years ago. If you invested in 2003 and pull it out now as cash you have collected dividends for 5 years and you break even. No loss. If you had pulled out a year ago when the Dow was at 14,000 you could have made a profit. I don't know why the average dabbler in stocks didn't take it out then. Bob Brinker and many pundits recommended just that. Jim Cramer recommended bailing early this week. If you pull your money on Monday and sit on it for the winter or so you will still have that money in the spring. Is there anybody except K-luv on this forum who thinks we will be better off on March 21, 2009? Why would anybody stay in the market right now?

[K-Luv]

There is nothing wrong with cashing in your stocks, per se; the problem arises when people begin to do it en masse, and no new investments are being made; which is what is happening now. During the Depression, those who kept their stocks and/or bought stocks and property came out to be 'overnight millionaires' when it was all said and over with because when the economy became good again, all of that stuff was worth gold. Look at this government bail-out right now; what has essentially happened is that the federal government now owns those banks and when they start turning a profit again guess who gets that money? Now, since the fed. government owns these banks means that we the people also own them, you can believe we won't see a dime (maybe) even though it was our tax money that paid for the whole thing.

McCain proposed that the fed. government also buy up all of these foreclosed homes and the mortgages of those who are currently struggling. Once again, there will be profit to be made from that. And these profits are going to go to those who have the vision, balls, and money to do so.

Will the economy still be okay come March of next year? I dunno. I hope so. Ironically it will all depend on this years holiday shopping season, which as goofy as it may seem, is usually a good indicator for the state of the economy.

[pirate_lafitte]

Originally Posted by dmyankee

The current government takeover of the financial institutions should be halted immediately. It is time to let the market forces go to work. Let the deadbeat corporations fail. Their assets will be acquired by entrepreneurial enterprises and the chips will fall where they will. The Attorneys General and Congress should instead concentrate on criminal activity and prosecuting the guilty parties on Wall Street.

The State of Maine is always in a better position to weather out an economic storm. More spending by the State is not the answer. Regulation on business must be radically reduced. We need to elect like minded individuals to the Legislature this Fall. People and business will have incentives to grow and prosper, only in an environment free from over regulation and oppressive tax structures.

Freedom is the only road to prosperity. It's time to cull the deadwood from Disgusta. Vote for freedom.

Okay, let the corporations fail. What about the people who have their money in the banks? I'm worried about the people.