AH yes, genuine frontier gibberish...
Posted on 12/25/2008 12:21:48 PM PST by gscc
You remember the Bible story in Genesis 41 about the fat cows and the lean cows, representing years of plenty and years of famine? And how Joseph wisely proposed to Pharaoh that he store up the extra during the time of plenty to get the nation through the time of famine? Liberals sure don’t. Too bad they don’t bother with the Bible; it’s wisdom would have helped out a lot right about now.
The media would never dream of telling you this, but 3/4ths of the Bush presidency - in spite of being handed an economy already stumbling into recession, the 9/11 attack and the resulting hit to the economy, the two wars that followed, Hurricane Katrina, and myriad other phenomenon - saw strong economic growth. Amazingly, nearly 60% of Obama voters didn’t even know that Democrats have been in control of both the House and the Senate during the last two years as the wheels finally came off the economy.
(Excerpt) Read more at theamericansentinel.com ...
Pray for Ted. God knows he needs it!
If only that were true. I know good hard working people who’re wiped out. I know three owners of small businesses that are failing and won’t survive long into the new year. I have countless acquaintances who’ve been laid off. Savings and unemployment don’t last forever, and finding a new job right now is next to impossible.
“That will learn them.”
When you say that you have to be more like, “that’ll learn ‘em”.
He must not be from round here.
Really? How about those who worked and saved for decades, and today look at their life savings and see that they have half or even less of what they had just a year ago? Is that "living beyond their means?" This would include my aunt and some cousins. They were invested in what would be, according to stock markets, fairly conservative mixes of bonds and index funds, and some CDs. They're worried, and with good reason.
I like to think that I live within my means... 15% goes to savings, additional payments to my mortgage principal every month plus an additional payment every year, 10% to charities, but I see my net worth down to less than 1/2 of what it was. Of course, I could afford to take a chance with somewhat riskier investments, as I've got at least another 20 years before I retire...
No, the people hurt here include "the folks" as BOR call them, and I'm beginning to wonder if one of the the reasons for the collapse isn't to scare "the folks" into surrendering their savings TO the government. I'm not normally into conspiracies, but this one is just too convenient... Let's all give our monies to the same people who caused the economic collapse in the first place!
Mark
If you're within 7 years of retirement you should be pulling that money out of the mkt to avoid the risk of a downturn. However, if you are caught at the bottom hang in it will bounce back.
The point is a good one though, a lot of innocent people have been harmed by the lack of integrity found on wall st.
That equation has changed in the past few months - the trust is gone. The old truths are not so true right now. We are all the worse for it.
A dose of mistrust might not be so bad. What have those in positions of authority done that deserve our trust. I think the long term result will be an end to the sophomoric attitudes about buying something for nothing being good and that you don't need to spread risk because things never go bad.
The problem is that the mistrust is going to foster a call for the government "to do something." Most people aren't going to realize or believe that this current financial fiasco STARTED with government policies, and that it was the government that managed to get us to where we are today.
I fear that people are going to demand that the government "fix" the crisis in savings, and we're going to see the financial system move from a fascist economy, to a socialist economy. Once that happens, it's all over.
Mark
They’ll make everyone else suffer with them. If the bosses of a corporation screw up, for instance, all the employees will suffer.
One of my daughters works for a video entertainment company. They just dissolved the company and have kept on a dozen employees, firing the other 300 or so. Thankfully my daughter was one of the dozen who were kept on. But who knows what will happen next? A LOT of people will be out of jobs through no fault of their own.
Practically speaking, to get by, you need to be prepared for:
1) No more credit of any kind. Everything will have to be “cash” oriented, by which I mean debit cards from the remaining solvent banks and paper money. It also means until we finally know which of the remaining banks are solvent, everyone should keep a few thousand dollars of paper money and coin at home in a safe place. (Retailers will likely no longer accept personal checks, as few have instant check debit, and check fraud will be rampant with CC collapse.)
2) Most retail transactions will have to be by debit card, because the vast majority of credit cards will be canceled if the CC companies cannot sell the bonds they need to underwrite cardholder transactions. Those remaining will have much smaller limits.
3) Government efforts to “monetize the debt”, that is, to declare money to exist because they can no longer back it with Treasury bill sales (once the T-bill bubble market collapses), will instantly translate to hyperinflation. But *importantly*, this hyperinflation may only be of electronic money, because there is a tremendous shortage of paper money. So if you pay electronically, with a debit card, your money will hyperinflate; but if you pay with paper money, it will likely deflate.
Paper money only exists at 5% of the daily retail need of the US, and the Bureau of Engraving and Printing is operating at 100% production. So it will likely be months before more paper money can be printed. So paper and coin will be king. That is, they are already seriously deflated.
4) Any personal investments of money that can be taken by others are not safe. This is already obvious with the 401(k)s being slashed by half or more. EXAMINE YOUR PORTFOLIO. It is better to be earning no money safely, than have the potential to lose your savings.
5) In the near term, there will likely be short bull market charges on the stock market. If you still have equities, strike when the iron is hot and dump them during this time. The eventual DOW may be between 800-1500 for many years to come.
6) In the Great Depression, there were huge food surpluses, even during and after the Dust Bowl, but people were also starving, until the government took control, destroyed much of the surplus, and redistributed the rest. Like it or not, it still took them years to getting around to doing this.
7) Crime is going to jump. How it happens will be anyone’s guess, but it will.
“....two wars that followed, Hurricane Katrina, and myriad other phenomenon - saw strong economic growth.”
One must take care, when deriding your political opponents, to not make yourself a laughing stock.
A sizable portion (if not all) the growth of the Bush years, it should be quite obvious, was a product of government financial manipulation - not actual growth.
Republicans would do well not to pat themselves on the back on the growth front.
Sure, we can argue this, but market crashes, deflation in housing and general out-of-control bailout mentality is not really arguable.
Republicans need to realize that through his actions and through his inactions - it really was Bush’s fault.
Sure, Obama voters are dumb, as is he and his team, for the most part, but maybe, just maybe Bush republicans are just as stupid and have done more to elect Obama than the democrats ever could have done.
Yes, Conservatives told you so. Now Bush has given Obama a head start on a socialist/communist state.
I think Bush Republicans and Obama Democrats are cut from the same cloth, when it comes to stupidity.
Cows? Liberals are more like locusts.
That is going to get you a nomination for: "The understatement of the year". Good Luck, I hope you win and award!
AH yes, genuine frontier gibberish...
How did you get the Santa into the “to” line?
That is dead clever!!!
They dem voters didn’t know because they were listening to CNN, MSNBC, ABC, CBS, NBC .. when they could have found more of the truth at FOX.
And .. a lot of the younger dem voters live on the internet and ingest all the left-wing garbage found there.
Exactly what the dems want - AN IGNORANT VOTER BASE WHO WILL BELIEVE ANY OF THE ROT THE DEMS SAY.
I agree with Rush on this one. Schumer, Dodd and Frank were the DEMOCRATS who cooked up this financial crisis - after the surge was so successful - to counter-attack Bush (for being successful in the war the dems didn’t want or support). As usual, the dems never look at the future when they make decisions to destroy people - and their decision has catapulted America into a recession or worse.
And .. as usual .. those of us with better sense will be left to pick up the pieces. Only this time, we better learn how to do it so the democrats are not allowed to take credit. If we don’t stand up and fight these people instead of bowing and scraping like the moderates do, we will never have a healthy America again.
The growth that we saw was mostly an illusion based on government spending, the housing bubble, and the commodities bubble. W is one of the worst economic presidents in history.
bttt
“Merry f****** Christmas!”
Jeremiah is that you?
And they are doing their best to see that everyone else joins them.
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