United States economy doomed …

[JS]

I feel bad for people who have 401 k's ... their in for a hard time , the hardest in fact .... you know the experts tell you your entire life that if you play fair , save and invest then you'll be OK in your later years with a 401 k ..... now for many , they can see the cold hard facts about our system .... there are winners , who keep winning (the rich and powerfull ), and then there's everyone else who subsidizes them ....

I have a 401(k), but you don't need to feel bad for me because I'm still earning 5% on it.

 

[American Air Surf]

I have a 401(k), but you don't need to feel bad for me because I'm still earning 5% on it.

That might be true- But you loose to inflation which runs more than 5%, You loose!

http://www.fame.org/HTM/Currency%20Destruction.htm


http://www.financialsense.com/transcriptions/2002/Parks.html

This, it forces you to play the Stock Market game, to just stay ahead of inflation- It would be well for you to read about the creation of money

http://dollardaze.org/blog/?post_id=00255

 

[freedom]

Dear doom journal…

Today I’ve enjoyed happy hour .. And I shall continue to do so wherever possible …(after work )


SURE the market went up by 400 points today …. Ah Hahahahahah … what does it mean ? nothing …. It only means that there are fools a plenty ….

I had a good talk over happy hour with my friend who understands as I understand … lol he’s drinking a bottle of wine before bed each night (the 6 dollar kind , YUCK ) ….. Lucky I’ve grown a bit of a tolerance for it all …

People call me crazy , and I hope their right …. Sadly I can’t lose myself in true madness … but having a few drinks takes my mind of the us economy and put’s it on the waitresses and the times from old …

Anyone ever heard of jim cramer …. The host of mad money .. Last week he told people to take enough out of stocks to get them by for five years …. He later recanted I hear …. But you know what , he was right , it’s just that the entire system puts so much pressure on a person that to think differently is to contribute to failure , even though you might be right! I read more about cramer’s call , if people had pulled out when he told them to sell , they would have missed that week when the down dropped by 2,000 points , but only in America can a sane man be made to think he’s insane !

Today I read that the fed was going to bail out the people who insure against debt defaults ….. AH HAHAH what lunacy …the people who insure against debt DEFAULTS have to them selves be bailed out …. Does anyone understand what that means!?!??!?!?!?!?!!?? There’s no more left , there are no reserves in this battle , the enemy has breached our front lines and is going right for our capital …the us government has over extended itself… I dunno , that’s just my point of view … maybe I’m wrong , maybe we really can insure everyone , guranntee everything … moral hazard is completely erased … gone ….forget that word ….capitalism , it’s dead as we know it .

 

[Gilding the Lily]

United States economy doomed …



I don’t believe that our country can survive with oil prices as high as they are today ,, maybe somewhere in the 110 to 120 range … but I don’t see the prices falling that low until we’ve sustained critical damage ..

While you are drinking, be sure to celebrate the lower oil prices, even if it is just temporary. BTW... I have noticed a trend in your "Dear Doom Journal" postings. You are emotionally connected to any big downward swings in the market, citing it as conclusive evidence that our system is certain to reach systematic failure in a short matter of time; however, when the market has a brighter spot, you conveniently disconnect and start drinking. Isn't that backwards... most people drink on the bad days. While the bright spot may be an anomoly -- a blip -- in such times, they should not necessarily be dismissed so easily. In all your planning, Freedom, don't fail to plan for success, as it seems you are only planning for failure. You should really consider paying off the credit card debt little by little... like the people you have lambasted, you are also putting your eggs in one basket: the economic doom basket.

 

[freedom]

While you are drinking, be sure to celebrate the lower oil prices, even if it is just temporary. BTW... I have noticed a trend in your "Dear Doom Journal" postings. You are emotionally connected to any big downward swings in the market, citing it as conclusive evidence that our system is certain to reach systematic failure in a short matter of time; however, when the market has a brighter spot, you conveniently disconnect and start drinking. Isn't that backwards... most people drink on the bad days. While the bright spot may be an anomoly -- a blip -- in such times, they should not necessarily be dismissed so easily. In all your planning, Freedom, don't fail to plan for success, as it seems you are only planning for failure. You should really consider paying off the credit card debt little by little... like the people you have lambasted, you are also putting your eggs in one basket: the economic doom basket.

Oh don’t worry about me lilly … there’s not much damage I can do to myself economically because I’m so poor .. To be honest I’ve only stopped paying one credit card and that was simply because having been late on it , the new fee was simply too much for me …. My own brand of rationality however made it easier for me to stop paying it …I MAY pay it off in the future , but the longer I let it slide the more likely that they will settle for less or consider it an uncollectible debt ….

As for my drinking , no nothing out of turn there , I just happened to indulge slightly more yesterday than I normally do (not market related ) you are correct thou that I only see the bad news and not the good news , and that’s because I only see the bad news seeing as there truly is no good news ..

Hooray for cheap oil! I can’t wait to see it back in the two dollar zone at my gas stations , that’s if OPEC doesn’t jack it up first .. :down:

 

[Gilding the Lily]

Hooray for cheap oil! I can’t wait to see it back in the two dollar zone at my gas stations , that’s if OPEC doesn’t jack it up first .. :down:

Crossing my finger for you about the $2 gas. Unfortunately, we both know that gas prices quickly reflect higher oil prices, but it always tends to take much longer for gas prices to reflect lower oil prices.

 

[Gilding the Lily]

Just as Wilbur Ross came to the Steel Industry, someone will come to this industry, buy on the cheap, ride the storm, and rise from the ashes to the landscape of an industry that will never look or feel the same.

Freedom, did you read Warren Buffett's Op-Ed today? As I mentioned, someone is going to come in and be the beginning of the movement to save the day. Buffett started it with getting into Goldman Sachs when everyone else was running for the door and he is doing it again, per his Op-Ed.

In your studies, however, haven't you recognized an overwhelming trend? Roughly every 7-11 years or so, our economy hits a trough. Sometimes, it is small; sometimes it is deep. Haven't you recognized another trend? The U.S. always comes out of it, and the people who invested in the face of everyone else's fear are the ones who often come out on top.

Buffett and I are on the same page; Buffett says nearly the exact same thing: "Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now."

You may not give any credence to my words, but you might feel differently once you hear the same story from Buffett. I am not asking you to change your plan... but, I think you should at very least develop a Plan B in case my -- and Buffett's -- ideas are fruitful. Don't give yourself *completely* over to fear.

*** If, on the other hand, things end up FUBAR... you are on my list of people to call.

 

[freedom]

i read the article by buffet ... and while he's a smart man , he's going to be one of the very few running into the burning building ....

no lilly , too much has already occured for this to be anything close to historical as warren likes to link to ...

the us goverment is over extened .... and it's tenderals are spreading further by the day , that is not however a bad thing , in fact it may be a necessary evil ..

i've been slightly lazy as of late ... i've been meaning to write something about the colteral damage the credit freez is having on the economy and goverment over extention ... eh maybe i'll write it up later on today , it better explains my thought process ... i know that in prior threads i was running around like a chicken with my head cut off screaming "fire , fire, the roof is on fire!" ... i've since relaxed ...

 

[southwind]

Oh don’t worry about me lilly … there’s not much damage I can do to myself economically because I’m so poor .. To be honest I’ve only stopped paying one credit card and that was simply because having been late on it , the new fee was simply too much for me …. My own brand of rationality however made it easier for me to stop paying it …I MAY pay it off in the future , but the longer I let it slide the more likely that they will settle for less or consider it an uncollectible debt ….

As for my drinking , no nothing out of turn there , I just happened to indulge slightly more yesterday than I normally do (not market related ) you are correct thou that I only see the bad news and not the good news , and that’s because I only see the bad news seeing as there truly is no good news ..

Hooray for cheap oil! I can’t wait to see it back in the two dollar zone at my gas stations , that’s if OPEC doesn’t jack it up first .. :down:

Apparentely, your not poor enough to stop doing 16oz. curls at the local bar !

 

[UnionAMT]

United States economy doomed …

I give it three to five years before total collapse .

Why do I say this ?

1. OIL , oil as we all know is the backbone of the us economy , and it’s like someone’s just taken our backbone and snapped it over their knee like a twig .. I don’t believe that our country can survive with oil prices as high as they are today ,, maybe somewhere in the 110 to 120 range … but I don’t see the prices falling that low until we’ve sustained critical damage ..

2. The us government is almost bankrupt ..it wasn’t too long ago that old uncle sam had to give himself another credit extension by raising the maximum federal debt level ..Right now we’re nine trillion dollars in the hole …. It won’t be long again until we hit our ceiling …oh hey , by the way , the expensive and draining war in iraq isn’t helping this problem .

3 our long term obligations are soon to roost , I forget which medical system is going dry , but wasn’t the government warning us about one of them going under in 2017 ? Not to mention that most of the states in our country are in the red , and the same goes for a lot of cities as well … How will the gov be able to jump start the economy if there’s nothing in the bank , and if we know there’s nothing in there and the world knows , you can expect our dollar to plummet … (CLEAR!!! Voomp! , voomp! , that’s the sound of the paddles not reviving the economy . )


sorry this isn’t a very thought out post …. I’m just going off the top of my head here … I’ll write something a bit more comprehensive when I get the chance , but that’s about it in a nut shell …. T
:cold: oast baby , toast ….

Hey, Dr.Doom who gives a squat how much time fools like you give the U.S. economy. International bankers and financiers created the "supposed" trouble are economy is in. AIG is under scrutiny right now,and when the congress gets their stuff together some of us Americans that aren't falling for this communist take-over are gonna expect and demand answers. For instance; why coporate America has been shipping our tax base over seas, and why the crooked U.S. government has been purposely finding worthless pork-barrel ways to waste tax money,and most importantly why the dirty no-good enemy from within(the Rockefellers),were allowed to do it.

If you want to sit back drinking your Shirley Temple and allow your country to be taken down by the communists in D.C.,while you impare your already limited judgement go ahead. Just don't make the mistake of thinking that there aren't those that love this land enough to fight for her. And don't encourage others to be a careless drunk like you obviously are.

Union... Union... Union...

 

[UnionAMT]

I disagree that this is a market correction , this is the us economy falling off of a cliff ….(slowly)

Your right about the credit crunch .. really it’s three things working together that are going to give us the knock out punch … Oil , mortgage meltdown and the credit crunch …. These are the KO punches that are going to knock out ole uncle sam ….

Some minor jabs that are being thrown out are also freddy and fanny mac ,americans having almost no savings and the war in Iraq …

Here in Arizona a lot of our economy is based on service industries , travel and construction ….. travel is dying off fast , construction has come to a grinding halt and in the east valley which is nothing but box stores, you can expect to see unemployment fly to unseen levels ….

I imagine most of our country is in a similar paradox ..


This all isn’t happening overnight thank god … it’s like a slow unspooling … which at least gives some of us time to prepare …. I sure hope our government is preparing for this as well and not just running around going “what do we do ? what do we do “

Let me be the first to say to all of you , greetings comrades !

Let me be the first to say to you that you should be selling Lotto tickets in a 7-11.

 

[UnionAMT]

This is not a figment of your imagination- We are in deep, deep S**t ...

Listen to this.... "Storm Tracks"


http://www.financialsense.com/Experts/2004/Stormtracks.html

and read this....

http://www.financialsense.com/fsu/editoria.../2007/1020.html

Suggestion. Stop spreading the propaganda and fight for what's yours. Call the Teamsters Union. Tell them you're sick of seeing elitists destroying the country you care about, and that you want to be the solution. Any idiot can follow the trend, and spread bad news. This country is not great because of quitters.

 

[UnionAMT]

Oh don’t worry about me lilly … there’s not much damage I can do to myself economically because I’m so poor .. To be honest I’ve only stopped paying one credit card and that was simply because having been late on it , the new fee was simply too much for me …. My own brand of rationality however made it easier for me to stop paying it …I MAY pay it off in the future , but the longer I let it slide the more likely that they will settle for less or consider it an uncollectible debt ….

As for my drinking , no nothing out of turn there , I just happened to indulge slightly more yesterday than I normally do (not market related ) you are correct thou that I only see the bad news and not the good news , and that’s because I only see the bad news seeing as there truly is no good news ..

Hooray for cheap oil! I can’t wait to see it back in the two dollar zone at my gas stations , that’s if OPEC doesn’t jack it up first .. :down:

Suggestion. Go home from the bar,look into the bathroom mirror and repeat this phrase;"I AM A LOOSER". Then crawl into a dark corner of your bedroom and spend the rest of your days sucking your thumb. That truly is what you need.

 

[freedom]

Suggestion. Go home from the bar,look into the bathroom mirror and repeat this phrase;"I AM A LOOSER". Then crawl into a dark corner of your bedroom and spend the rest of your days sucking your thumb. That truly is what you need.

i have a better idea , why don't you put down your angel dust or crack or "junk" and pick up a copy of the WSJ ....

sure the market went up by 400 points today ... but the wall street you know has been forever changed by the goverment ... uncle sam is pouring hundreds of billions of dollars into the marketplace right now , so yes you will see a postive growth for awhile ..... but it's not going to be enough .... what your now seeing in the stock market is artifical ....

oh well , i don't spend as much time as i used too on this stuff ... i'll work on a more indepth explination of what's wrong with the economy one of these days when i have more time .... right now i'm just keeping tabs on it ...

 

[UnionAMT]

i have a better idea , why don't you put down your angel dust or crack or "junk" and pick up a copy of the WSJ ....

sure the market went up by 400 points today ... but the wall street you know has been forever changed by the goverment ... uncle sam is pouring hundreds of billions of dollars into the marketplace right now , so yes you will see a postive growth for awhile ..... but it's not going to be enough .... what your now seeing in the stock market is artifical ....

oh well , i don't spend as much time as i used too on this stuff ... i'll work on a more indepth explination of what's wrong with the economy one of these days when i have more time .... right now i'm just keeping tabs on it ...

You couldn't keep tabs on your own --- if you had six hands and a flashlight.

Yes that's what's needed, an explaination from you based on the fascist/communist elitists wealth building rag the Wall Street Journal.

Do something worth while. Get out there and pound the ground with labor activists that fought for a middle-class. You haven't a clue what's going on in this country, and what's more people like you will always take the past of least resistance(follow,follow,follow, and drink the Kool-aid baby). What isn't needed is an "opinion piece" based on elitist propaganda, from a dolt who spends his time in a bar.