Posted on 07/28/2013 7:02:14 AM PDT by upchuck
I’ve been reading of the coming collapse of the United States since the 1980’s. Back then it was nuclear war, these days it tends to be a prediction of economic collapse, with an occasional dose of Civil War II or an EMP attack thrown in for good measure (One Second After, anyone?)
Might such an event occur? Sure...but as time goes on, I tend to think that we’re simply going to get more of the same (a slow decline).
As for myself, I’m in pretty good financial shape. Even though I contracted stage III kidney cancer last year and had over $300,000 in medical bills, my insurance covered almost all of it...I only had to shell out about $10K out of pocket, and even though I missed 7 months of work my savings were able to tide me over.
Many are not doing well, of course. I recall a recent poll that asked people if you could, given 30 days, raise $2000 by any honest means, borrowing included. Roughly 50% of people said, “No”.
It was foolish of him to make the comment in public...but it was accurate.
Congrats for being tough and thinking right. My younger sister and her husband lost their home and jobs. Barely getting by the last 4 years, in total poverty. But she always smiles and laughs, says at least 3 of her 4 kids are grown and on their own. Won't take welfare. She says it's nice not having to worry about possessions. Always positive, making lemonade from a lemon situation.
I’m happy you recovered and that it was not financially devastating. Health insurance is a huge concern of mine, just keeping it and being able to afford it.
Yes, we are in decline. The whole premise to suggest, “why do we need to equate the health of the stock market with the health of the econmy?” Because the value of securities is related to GDP + Inflation + Dividend Yield. for the last 13 or so years the economy has been moving sideways.
Predictions hold that at best, the prudent investor will see 7% growth - FEES - TAXES - INFLATION. This means that on the best day someone may harvest 3% of the asset value LESS TAXES. That is all.
Here are a couple of very interesting resources.
http://www.oftwominds.com/blogmay13/genX5-13.html
http://www.investorsfriend.com/return_versus_gdp.htm
I said just the same thing years ago, right here on FreeRepublic. The “modern” economy doesn’t need workers to provide all the stuff we need. It’s got machines and robots. But the “modern” economy is really the echoes of the industrial economy, where everyone worked in factories with their productivity enhanced by machines. Now the machines do the work almost on their own.
Since there are so many workers for so few jobs, competition drives wages to the minimum necessary for survival, with the profits going to the executives and owners of the companies. Though the executives have tried to corral all of the gains to themselves, through extraordinary salaries, some of it leaks out into profits, which partly explains the high level of the stock market.
The government tries to maintain stability by feeding money to the unemployed through food stamps and “disability” payments, but people need more than money in their lives — they need meaning. Our culture has lost that.
The article describes it as a class issue, but it’s really a cultural issue. The culture of the black community has been misdirected for decades from building knowledge and value to extracting rents from historical abuses and white guilt. The Trayvon Martin affair was the last gasp of that effort: most people see that a cherubic Hispanic defending himself from a black thug does not point to the racism of white people.
We need a new economy, but the laws, regulations, and customs of the old economy are preventing us from getting there. As in the past, it may take war to untie the Gordian knot. Or technology may once again bail us out, giving us the respite of cheap energy, and time to figure out a better solution.
Your better half was right. Your gut instincts were on target. These two were obviously working as a team; the woman in the BMW was serving as lookout and getaway car. Good for you for having situational awareness. Some clueless people, absorbed in their smartphones, might have in a moment of distraction been taken in by one or the other of these too.
Stay safe and be well.
That is what they voted for in ‘08 and’12. They had two choices to choose from. They chose the one they wanted.
Hadn’t thought of it like that.
The other giant flaw is that there is no check or balance on the executive
“Whew. Good thing we’re in a recovery.”
Hey, as long as everyone political in DC are getting their checks and perks, then the economy is booming, right?
The more he lies the more it supports the position that he is a pathological liar.
If the repubs would get out front with the claim he is a mental case that will do and say anything to hang on to power, it might go a long way to defang him.
What, in your opinion, could have been going on? Any idea?
Turns out it's the middle class whites who are learning the lesson...no one else.
4 out of 5 in their entire lives? How much of this is economic mobility?
In my life I have been in poverty, but am very far from it now.
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