ej510
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Fri Oct-10-08 05:53 AM
Original message |
We are in a depression folks. My suggestion is t buy gold, and put your money in a savings account. |
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Edited on Fri Oct-10-08 05:59 AM by ej510
We need to cut back spending, drive even less, and find free entertainment. I know that all of you get it. This is what happens when there is global greed. When wealthy people decide to rid the world of the middle class. Do believe that any of these greedy mutha fuckas care about us? Of course you don't. What's happening right now is depressing. Someone must serve a life sentence from this . We cannot allow these people to rob us and retire to tahiti, dubai, or the cayman islands. As americans we must demand that the government punishes not one not two, but everyone or else these crooked evil s.o.b.s that went out of their way to rob the american people. To allow them to get away with this is unacceptable! And no country club prisons for these fuckers either. I want these assholes in general population, because these people do not differ whatsoever from mass murderers.
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stuntcat
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Fri Oct-10-08 06:23 AM
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I've heard two separate news reports about the sales of safes doubling, in the US and in the UK.
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soothsayer
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Fri Oct-10-08 06:28 AM
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2. They can take your gold and you can lose you money in the bank, no? |
ej510
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Fri Oct-10-08 06:49 AM
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8. Put it in your local bank. |
seabeyond
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Fri Oct-10-08 06:37 AM
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3. gold is up at 900. i remember when i was talking about buying it at 400 |
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only of those.... if only's
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hlthe2b
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Fri Oct-10-08 06:40 AM
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4. I love how so many say just to go out and buy gold.... |
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Yeah, right.... The rest of your message is on target, but geebus, do some DUers know how insensitive this "buy gold" message is to so many Americans (and DUers?) :eyes:
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Connie_Corleone
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Fri Oct-10-08 06:41 AM
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5. Uh, some of us don't have enough money to buy gold. |
HereSince1628
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Fri Oct-10-08 06:41 AM
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6. There has always been greed. I think the role of consumer health is being under-played |
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Edited on Fri Oct-10-08 06:49 AM by HereSince1628
in a populist attempt to blame those greedy rich bastards.
I am not blaming consumers, I'm saying too many consumers have empty pockets and many of those those with two nickles to rub together fear getting empty pockets. That lack of purchasing is killing the economy. The largest consumer population in the world has been taken off-line. And that one, will kill the economy of the entire world. Sticking it to American workers who are the world's greatest consumers is coming home to roost.
The games the mortgage companies and hedge funds played worked just fine until there were no longer consumers to buy the surplus housing. The game of revolving consumer credit worked fine until folks started losing their jobs in droves.
No one cared as prices on things became stratospheric, everyone just paid the price and moved on.
30 years ago no one would have imagined starting the day by driving out in a $27,000 station wagon sitting on a truck frame to get a $4 cup of coffee, or making a call that's part of a $40 a month basic phone bill, or watching Joe Scarborough as part of a $100 per month television service. Or buying access to radio signals from space.
The GREEDY BASTARDS ran the prices up on everthing. And consumers willingly went into debt to have all those things, actually adding interest costs to the already high cost of the goods they bought.
It all went on nicely for over a couple decades and suddenly consumers decided not to pay anymore. We saw destruction of demand for the $27000 vehicle happen in just several months. And why did consumers quit spending on these behemoths? How about doubling of gasoline prices combined with nine straight months of job losses? How about consumers finally reallizing that for a decade entire factories were being packed up and sent to southern China and now their precious jobs were at risk? How about the fear of poverty coming back into the psyche of the middle class?
The folks who lived through the Great Depression taught about the Depression as a period when there was not enough money to buy goods, resulting in companies slowing or halting production, causing more job losses and LESS money chasing the goods on the shelf. We are in for that sort of bad cycle.
It won't be broken until INCOMES start to get replaced and consumers have money to buy things. All the "rescue billions" to banks aren't going to stop what is going on. Consumer JOBS and consumer confidence need to be re-established. Until they are, it's gonna look a lot like the 1930's.
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TheCoxwain
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Fri Oct-10-08 06:47 AM
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7. I am going to put money under my mattress .. just kidding |
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relax folks ...
If you are young - do not unload your 401k positions- things are crazy - but will recover. Ive lost 38% this year but I am not losing sleep.
If you have spare cash to invest .. there will be some excellent buying opportunities.
Obama will be elected in a few weeks
So CHILL THE FUCK OUT
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ej510
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Fri Oct-10-08 06:54 AM
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11. We have to create jobs. I believe that we should put a freeze on college tuitios for a couple of yrs |
renie408
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Fri Oct-10-08 06:49 AM
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9. I told my mother a month ago to move her money into a savngs account |
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She didn't do it until ten days ago. If she had moved it when I told her to, she would have saved $30,000. She has it in high yield CD's right now.
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SoonerPride
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Fri Oct-10-08 06:50 AM
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10. Make sure you always call this the Republican Depression |
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Once again REPUBLICAN deregulation and greed causes economic collapse.
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ej510
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Fri Oct-10-08 06:55 AM
Response to Reply #10 |
12. True but democrats played a pivotal role in this as well. |
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