Don't mean to be a negitive kinda guy but this financial mess is real scary...

[Jim C (Mich)]

I know guys like Vern who already know how to take care of themselves in times like these and are prepared will be ok.
A lot of us, including me may not be. I truly believe that things are gonna get worse quick before they even start to get better
I've never owned a gun. I'm in debt like a lot of folks. Things are gonna get crazy. I do have my faith in God which is all anyone really needs
but it helps to be prepared for times like these. Anyone else have that gut feeling that things are gonna go south pretty soon? Jim

 

[Brian(upstateNY)]

More banks going under still and the bailout wont ease the stress for the next year probably.
We happen to go to 5 car dealers on Saturday here and NOT ONE other person looking at a car~there is no credit to be loaned at this time unless you put substantial money down out of your pocket~20%+++ and credit is Excellent++
My banks so far are good and still standing strong but that dont mean they wont fold to a buyout next week.
People asked me WHY do I have so many gunz and ammo...
My answer is~YOU NEVER KNOW

But the housing market being the biggest flop right now needs to turn and they say it wont bottom out for another year yet
See what happens in the next 6 months I guess but we are all in this together that's for sure... no one is untouchable right now that's for sure

 

[Vernon in Virginia~Formerly Alaska]

Then things will stabilize. New jobs will be created in the the emerging energy boom and expansion, causing more money to stay in this economy, not going over seas to buy Arab oil as much as in the the past but it will be a slow pull-out.

Natural disasters create tons of work and good pay for those willing to travel, no shortage of those lately. I believe that in another year we will be out of this mire and back on the road to recovery but it will takes several years to get back to "normal".

 

[General Ray]

hitting everyone.

There are ((( no guys or people who already know how to take care of themselves in times like these and are prepared and will be ok ))) because nobody is truly prepared, we all pay for food, we all pay for gas, we all pay for heating oil or gas to heat our homes in the winter, even the wood burners still pay for the wood to heat their homes, we all pay for the light bill to light our homes, we all pay for the water that enters our homes, you get the picture Jim

Only the truly truly rich can weather the storm but even they are taking some kind of hit somewhere, be it not like us Joe six pack folks that have to live pay check to check and never seem to get ahead because everything keeps going up and kills any chance for us to save and when we do save and do the right thing to become less dependent on the system the system always seems to come back and bite us in the Azz again and takes our savings, like this banking crap and bailout which will once again cost the tax payer

I want to spit up uke: because my taxes are about to go up again to bail out greedy banks, savings and loan company's, insurance company's and all the greedy people who run these company's and live the good life while I watch my savings disappear :veryangry:

They should have let the banks fail and not use tax dollars to bail them out, not put it on my back or yours, let them fail and after the smoke settles see who is still standing, their is plenty of blame to go around, greedy builders getting loans to build houses that they knew they couldn't pay back from the greedy banks who would lend money to the greedy home buyer who could not afford the home in the first place not to mention the Fannie Mae and Freddie Mac disaster where taxpayers bailed out the shareholders and management, once again Joe six pack got bent over

They don't even know for sure if this bail out will work or the other half dozen they just passed, it's just a ban aid for right now, besides, who's gonna stop us, the tax payer.

I plan on voting out every incumbent on the ballot, I am sick of how Washington is run and both parties are to blame, like I said, there is enough blame to go around and while those fat cats keep getting fatter We The People of These United States keep getting bent over, time to stop the bleeding one way or another

You hang in there Jim, your family is number one and you do what you have to to make sure they survive, all the best friend

 

[Craig in Alabama]

But the facts will remain the same...people still need products and services just as before this mess. Basically, it all comes down to a simple accounting error....you don't spend more than you make (most basic rule of thumb )......those banks loaned more money than they made on the interest and they can't pay the investors their money. The Gov't. is betting that paying off some of that debt to those investors will free up money to loan on other things. I look for what is everyone is predicting to happen...more scrutiny when giving people loans and if they can afford the loan and higher interest rates. They'll be other banks fail that are heavy into the housing mortagages but they'll be plenty that don't because they knew better. Its going to be tight for a lot of folks, but I believe that most folks are not hurting to the extent that the media wants you to believe...just because they knew better also...but thats just MHO.

 

[General Ray]

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[Vernon in Virginia~Formerly Alaska]

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[General Ray]

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[Vernon in Virginia~Formerly Alaska]

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[Brian(upstateNY)]

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[Uncle Willy]

I got more than a gut feeling. It is going south - way south. This country is bankrupt and we are in hock up to our eyeballs to China and 20 other countries who have been financing our war and other follies for years. This $850 billion Congress just hustled up wil have to be borrowed from these same countries. With our national debt and unfunded liabilities this country is in debt to the tune of about 60 trillion dollars. It ain't gonna be pretty.

Bill

 

[Uncle Willy]

IT's going to take years for the housing crisis to correct itself. In the next 2-3 years 6.5 million more people will lose their homes. This bailout isn't the end. There will be more hogs bellying up to the taxpayer trough for a handout. Florida is bankrupt as is California and California has already asked the Treasury for a $7 billion bailout. More states will follow. This current mess is just the tip of the iceberg. This country is going to crash like it's never crashed before.

If you can believe it Hank Paulson is outsourcing the disposition of this $700 billion to his buddies on Wall Street ( the same ones who created this mess ) including his former employer Goldman Sachs. Like having the fox guard the hen house. You can guess what will happen to all that money.

Bill

 

[Uncle Willy]

One thing most don't consider. Foreign banks own a ton of these toxic loans and paying them billions ain't going to help our economy one iota. THat money will be gone forever. Plus when the banks here sell these loans to the government at a big loss they get to deduct that loss from their income tax - resulting in billions that don't make it to the IRS and into the Treasury and guess who might be tapped to make up this big shortfall in revenue. So Joe Sixpack gets rammed with a double whammy - a severe recession and higher taxes. 760,000 have lost their jobs since January and by years end it will hit one million.. Grab the vaseline, bend over, and get ready for the reaming of a lifetime. THis will be the largest theft of public funds in the history of this country and will make the Great Depression look like a church social. Good luck to all.

Bill

 

[Uncle Willy]

During the Depression we ate a lot of water gravy and picked a lot of wild onions, asparagus, berries, melons, and hunted a lot of small game to put meat on the table. and stood in relief lines to get flour, cornmeal, dried milk, and whatever they had. We would go down to the train yards and pick up coal that fell off the coal cars to burn in our stove and over to the ice plant to scrounge up hunks of ice that had fallen on the ground so we could enjoy the luxury of icewater. The current generation can't even envision times like that where people stood in line for hours to get a bowl of soup and a piece of bread and hobos rode the rails and lived in hobo jungles along the tracks to survive. And that Depression was brought on by the same cruds.that are pulling this scam

Bill

 

[General Ray]

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[charlie (ky)]

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[Vernon in Virginia~Formerly Alaska]

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[Fred (S. Indiana)]

We seem to be dealing with a serious culture change, people no longer strive to make things fit in proper fashon, we are dealing with the adults who were never disciplined in school, great percentage of young acovered with tatoos, two or three credit cards maxed out, mexicans running rampant in our workforce weakening our culture, what we have is the biggest falcon mess I've ever seen, I fear there is no fixing this, perhaps Obama can "rig" our problems.........

 

[Vernon in Virginia~Formerly Alaska]

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[Craig in Alabama]

Why the crooks are'nt going to jail is beyond belief. Government got us into this and now they're trying to spend us out of it....you can't spend your way out of debt.