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I meet a LOT of people who don't want to hear the bad news. They want to continue on, business as usual, and pretend the entire storm will blow over. I feel bad for some of these folks, because they really aren't going to know what hit them.
For myself, I'm going to spend the weekend canning whatever foods I can.
That's sort of been my philosophy: that maybe many people are in denial? I mean, we're not in the soup lines but we're not exactly walking in high cotton. I too have been buying in bulk, cooking at home, canning, making my own bread (you can buy flour for the price of a loaf of bread). I am used to living below my means due to my upbringing, so these behaviors aren't really a life change for me. I don't purchase anything on credit other than airline tickets/travel related expenses and those get paid ain full at the end of the month. I pity those who will really have to make the adjustments in lifestyle.
Obama is likely to get assassinated anyway. No matter who wins this election, this nation is screwed. The illuminati run the show now. Head for the hills with your guns and your stills.
people can shop all they want. they can watch movies all they want. they can eat at restaurants, go to theme parks, hang out at pubs and clubs, go bowling, go shopping, buy laptops and plasmas, hell, they can even go on a euro-trip. it doesn't matter. people can do whatever they want as long as they have credit cards and a small savings. the long term fundamentals is what dictates the economy and the market it supports.
whether or not we are in a recession right now, that's beyond the point. we are in a rough economic slowdown, the governments fake 6.1% unemployment rate is really over 10% (probably more around 12-15% based on private employment analysts), gdp is really negative (the government doesn't subtract certain expenses/liabilities in its number just to manipulate the real gdp), foreclosures are in record numbers, the national debt is growing at an unprecedented rate, the fed is cutting the prime rate again like crazy and the trillion dollar bailout plus war in iraq will eventually hyperinflate the US dollar in a couple of months when all of these bailouts and newly low interest rate set in. the value of the us dollar will fall off the chart and americans will be even MORE poor on paper... yep! that's what's gonna happen.
I am thinking about getting a bunch of credit cards and buying all the good things I have wanted. You know, a new motorcycle, a really big TV with super stereo, and maybe a big house with lots of fertile land. I'll buy stuff that will last a couple of decades or so. Then when the system completely crashes and they cancel all debt I'll be set.
With my luck they will only let the big boys’ cash out for free and the rest of us will still have to pay our debts so I guess I’ll just continue living within my means. Darn.
[SIZE=3] [/SIZE]
Obama is likely to get assassinated anyway. No matter who wins this election, this nation is screwed. The illuminati run the show now. Head for the hills with your guns and your stills.
Yeah, o.k., riiiiight...hmmm.....I think we have had enough Texas wisdom the last 8 years....I'll just refrain from heading for the hills for now...k?
Location: where you sip the tea of the breasts of the spinsters of Utica
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Quote:
Originally Posted by Nor'Eastah
Nice Cinderella list!
You forgot one word: YET.
+1. It ain't over till the fat lady gets laid off - when unemployment peaks, reality will hit most ordinary people. We're already having some pain from foreclosures, but even that is still in the beginning stages. Most young people won't be able to afford a first home or get a mortgage, most older folk won't be able to retire in comfort and style.
I know an older retired couple who just made the decision to sell their nice, comfortable house he had designed and built. They're going to downsize to a trailer, because their investments aren't going to be earning enough income to stay in the house.
Quote:
Originally Posted by jimhcom
Man,talk about having your head stuffed in the sand. In the words of GWB "This sucker is going down".
It's hard to say with him, but I think the President was referring to Barney Frank.
It's hard to say with him, but I think the President was referring to Barney Frank.
Haha ... I may be a Lib-leaner in support of him, but I'll recognize a good, clever jab.
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