Posted on 06/01/2011 6:57:16 PM PDT by Libloather
You're pretty close to being toast. Nerves are frazzled, homes are being evacuated, jobs lost and families are torn apart.
Oh, the rookie Hussein has performed magic, all right. Kinda nuts. But it's what Barry King planned all along. This is his vision. Wealth distribution. And it's only getting started.
How do you make it? Old money, new money, food stamps, living with the folks, moving in with the neighbor? How are you doing it?
Are there any really good tips to make it through the Hussein years?
And don't give me any guff on that '$40k on the credit card' remark. I hear the commercials. You know the ones who say, "Do you owe over $100K to the IRS?" HOLY CRAP! Are you kidding?
Thanks — haven’t had the party yet, I am waiting for all bazillion records you get when you finally own what is yours :)
Mrs. FD and I did a bit of a celebration but we want to do a bigger one when I can set aside the time and we get all the stuff.
Been pondering a question, maybe someone could help...would it be better to take money from savings in to pay the card off in hopes of replenishing savings, or should we just keep plugging away at the credit card assuming the small amount of savings is going to get grabbed by the depression?
>>Anyone that uses a credit card and doesn’t pay it off in full every month deserves to lose big.<<
It can be the last resort. But it does start a hole that is really difficult to dig out from (but it can be done).
Payday Loans — THAT is the losing proposition.
“It’s a bitch all right. I know my job’s being eliminated, probably next year. Got sucked into the college loan thing at the wrong time.”
Same deal at the other end of the spectrum...my job just got eliminated after 27 years w/the same company. I got a decent severance and a modest pension/401k, but I’ll being hunting for a job shortly...major medical bills (in spite of insurance) for my wife, a 16 year-old son to finish raising, and I’m hoping to avoid a prostate cancer recurrence. I’m tired!
Just wondering, if hyperinflation does hit then wouldn't being in debt not matter?
What's $40K when you can pay it off with our equivalent of
So wouldn't it be better now use the money you would have used to pay your debt and use it to buy gold, guns, etc. instead?
Eating out a couple times a month instead of couple times a week, coupons, and just generally being a lot more conservative than I used to be. The house and cars are paid off, and minimal credit card balances (I still run all I can through them for the points though).
>>Paid off the house right after the election, just before Hussein hit. (When I say I saw it comin’, I wasn’t kidding.) One lump sum. Done.<<
Congrats also! I assume you had yourself a Mortgage burning party? Or are you still waiting for all them documents?
>>Now, the annual property tax bill comes in the mail. It’s always somethin’.<<
*sigh* I know, and I have a specific bank account where I am keeping what used to be the mortgage escrow. It does suck that I have to pay the Government for the right to own what I own.
“I’m just surprised that the misery index is still being tamped down.”
/// ?????????
if you use the identical old formulas, it is already at a new record high. higher than Carter...
http://www.freerepublic.com/focus/f-chat/2725011/posts
Shadow Stat Misery Index Highest on Record
...compiles economic data for inflation and unemployment the way it used to be calculated pre-1990.
...
If it were to be calculated using the older methods, the Index would now be over 25, a record high. It surpasses the old index high of 21.98, which occurred in June 1980, when Jimmy Carter was president.
= = =
with some of the money i took out of retirement fund, i’m stocking up on food. if inflation increases food another 30%, and i stock up now, it’s like my money earning 30% in the bank... which it won’t.
plus i’ll have food on hand...
“they are being used for survival.”
That’s stuid!
I did the same and passed around fake champagne in little plastic glasses. Works just as well as the good stuff.
“take money from savings in to pay the card off in hopes of replenishing savings, or should we just keep plugging away at the credit card? “
Only if you have a good emergency fund left (3-6 months) after paying off the card. My 2 cents
Stop using the card. Save the card for emergency. Use cash to live. So keep plugging on the card. It will take no time at all if you stop using it.
Stop being so dang judgmental.
I didn’t say *I* was using them for survival, but people are. Why do you think they, credit card companies and media, are boasting about credit card use being up (as if it’s a good thing)? It’s because people are being laid off and still have bills, they had no time to set money aside, the car died, medical bills showed up, etc.
Not everyone saw Hurricane Hussein on the horizon.
I have no sympathy for anyone living on credit!
I’ve had at least 6 months expenses, most of my life at lest a year or more in the bank, starting when I opened my first bank account at 8.
Eacept for a mortgage on our home that has been paid off for 24 years I have never borrowed one cent for personal or business.
Goody for you.
Well said.
Well, personally I think if the SHTF you will need cash....so it depends upon HOW MUCH credit card debt you are paying off, and how much savings you have... IF the SHTF....and you need to eat....you’ll need cash....I doubt that credit will be taken. Oh, and I assume you are no longer adding to that credit balance.
I had the very same question. My bank told me that I should ALREADY have the ownership documents. They were given to me when I moved in. Woah. Found 'em. Once the loan is over, they don't send congratulations or many papers - at all. (Best check those filing cabinets.)
My situation is similar to yours. I lay awake worrying about what kind of country my generation is leaving to our children and grandchildren....
LOL. Credit isn’t bad any more than medicine is bad. Both credit and medicine can be helpful and both can cause a problem if used improperly.
Would you be so flippant about someone living on medicine when sick? Maybe you’ve not been in need of credit. Maybe you never perceived the opportunity credit provided [notwithstanding your mortgage.] Who knows.
But we’re all very, very impressed with your story about savings accounts since being 8. No, really.
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