Steady, Mainers (Bangor: home, salaries, cabinet)

[Northern Maine Land Man]

As long as you have less than $250,000 in each bank you are fine. You can draw it out when you want to. That isn't each branch, it's each separate bank. A major problem is that retailers can't get commercial loans to stock up for Christmas shoppers. That means manufacturers can't sell their goods unless they let it out on credit. Meanwhile, lenders have credit cards out there charging 22 to 32% interest. It's a crazy system that Congress forced on the banks. It started in 1999 when banks were forced to lend money to people on welfare and alien criminals. There are over 3,000,000 of those homes now with nobody paying on the mortgages. What we have seen is an adjustment back to where we were in 2003. If the economy goes over the brink it would be a very good idea to have two months or more of your anticipated expenses in cash. A similar amount of non-perishable food would be a good start. The Mormons believe in having a year's supply of food on hand. That's a good policy.

[dmyankee]

Originally Posted by pirate_lafitte

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

Hey.

The Gubermint guarantees 250 grand per account as of last week. It was $100k.

I really do not give a flying crap about what the goobers in Washington want to give me. We should all be on our own, as far as savings and retirement. The Feds have no business feeding, housing, heating, medicating anyone, or guaranteeing anything on investments.

You want to get going with the economy? Cut all capital gains to 0%. End Socialist Security by letting it die on the vine! Same with Medicare and the ridiculous part D supplement! Give everyone over 50 the chance to opt out of the Socialist Security system, or stay in. Give everyone under 50 their money back, that they paid into the system. Let them invest where they want. The system was invented when the average lifespan was 63.

The State of Maine needs to get rid of this socialist, utopian dogma they created. We need to eliminate the income and sales tax. The same goes for the Feds. Free the system from regulation and let Capitalism take it's course. The free market will take care of itself.

[K-Luv]

Originally Posted by pirate_lafitte

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

Personally, I say let them fail as they are failing because of their own greed. Up until at least the sixties the average CEO made somewhere between 10 and 30 times the wage of the average sh*t worker. These days CEO's make around 300 times the average wage of their typical employee. I find it hard to sympathize for these people.

Those who have money in the banks are now insured up to $250,000 (up from $100,000). If you have more money then that, then you should spread it out to different banks. As of yet, the FDIC has always kept it's end of the insurance bargain; we'll see what happens now.

An interesting note is that credit unions have become the hot spot for peoples money over the last couple of days as they are not connected to the stock market and are considered non-profit entities. So if you are really concerned, then move your money there as it will more more protected then in a regular bank.

[dramamama6685]

Originally Posted by dmyankee

Hey.

The Gubermint guarantees 250 grand per account as of last week. It was $100k.

I really do not give a flying crap about what the goobers in Washington want to give me. We should all be on our own, as far as savings and retirement. The Feds have no business feeding, housing, heating, medicating anyone, or guaranteeing anything on investments.

You want to get going with the economy? Cut all capital gains to 0%. End Socialist Security by letting it die on the vine! Same with Medicare and the ridiculous part D supplement! Give everyone over 50 the chance to opt out of the Socialist Security system, or stay in. Give everyone under 50 their money back, that they paid into the system. Let them invest where they want. The system was invented when the average lifespan was 63.

The State of Maine needs to get rid of this socialist, utopian dogma they created. We need to eliminate the income and sales tax. The same goes for the Feds. Free the system from regulation and let Capitalism take it's course. The free market will take care of itself.

Wow you cut right to the heart of the problem. Too bad the government didn't let capitalism take care of the wall street financial institutions. "It's okay we'll let the taxpayers cover it. Trust me they don't mind."

How about putting a freeze on congressional perks and raises until the country is out of debt. Then we can sit back and wait for them to clear up this mess of over regulation post haste!

[pirate_lafitte]

Originally Posted by dramamama6685

Wow you cut right to the heart of the problem. Too bad the government didn't let capitalism take care of the wall street financial institutions. "It's okay we'll let the taxpayers cover it. Trust me they don't mind."

How about putting a freeze on congressional perks and raises until the country is out of debt. Then we can sit back and wait for them to clear up this mess of over regulation post haste!

Now that it something I can agree with. No more perks for the government workers. Even better, quit paying the president after he is out of office.

[mollysmiles]

I agree.... and I'd like the lobbyists gone too.....

[Elcarim]

Originally Posted by pirate_lafitte

Now that it something I can agree with. No more perks for the government workers. Even better, quit paying the president after he is out of office.

I know!! Why should they spend 8 years in office screwing things up, then retire, supported by us? How fair is that?

And then you hear stories like this........

ABC News: After Bailout, AIG Execs Head to California Resort

[K-Luv]

Originally Posted by mollysmiles

I agree.... and I'd like the lobbyists gone too.....

Yeah, me too.

[pirate_lafitte]

I say quit paying the president after his terms are up and cut back most of his post-presidential perks too.

[pirate_lafitte]

Speaking of you steady Mainers out there, I just thought of this. Your state could be a potential energy harnesser and it can bring jobs too. You could harness the power of wind energy and it could bring some jobs as well as cut down on some of the energy costs.