United States economy doomed …

[Hadenough]

your going to have to explain what you mean ... do you mean it's crazy of me to think people might kill themselves if they see their savings vanish ? because it's not ... some people actually place that much value on their money .... strange isn't it ...


or are you implying that i'm crazy to say 401k's will get demolished ? because if you haven't been paying attention , i think on average they are down at LEAST 30 %

i'm saying that as the economy continutes to fall , stocks will fall , that drags down 401k's ...

Crazy or mentally disturbed is exactly what I'm saying and you yourself are traveling the same road. Life is precious and to even think of throwing it away over something as trivial as the market is someone who needs help. My wife's and mine are both down more than that and it is irrelevant. We are both very much aware of what is important in life and it is not our 401ks. You need to do some reflection and realize it don't matter. I implore you to get some help.

 

[Hadenough]

Here’s the difference between my position and your position .

I can document and demonstrate a number of things ..


1 . That the federal government is out of money ( hence the need to deficit spend )

2. That state budgets are also out of money (hence the need to cut services and or ask the federal government for money )

3. That American citizens are also out of money or very highly in debt . This is evidenced by the sales data from last December , auto data (on average auto sales are down 30% ) credit availability which is being restricted due to 1 , too much debt from people apply for credit , slowing economy . Rising job losses and declining stock and home values are also NOT helping the average American consumer .



Now , take a deep breath had enough , and try to put forth some facts and figures before you call me crazy … I’m a reasonable person , If you show me data that supports your side of the story that the economy isn’t in for dire times , then believe me , I’d be more than happy to read it .

Your missing the whole point. What does it matter? Even if your so called proven facts are true what difference does it make. None, nadda, zip......You will still be here tomorrow, still breathing and still living life. Let it go before it is too late.

 

[southwind]

i'm not going to waste my time reading that garbage that they feed you ...

wealth isn't going to go away , in the future it will be based on what benfit you provide society . if your a doctor your going to live in a nice house and drive a fancy car. i want to immitate the system we have today , but there won't be any carry over to the new system , so if you were say an athlet with millions of dollars , under the new system you'll have zip along with everyone else , and you'll start getting paid based on what you provide society ... athlets don't fix things , they don't heal people etc , so they will get very little ..

southwind , we can't tax our way out of this ... our debt is too great ,it's almost IMPOSSIBLE .... and you should know this , look at state goverments ... as more people lose their jobs the tax burden will increase on the few who still have jobs ... it's another snowball , rolling down hill that's going to take out more people on it's way down .

They say ignorance is bliss, but in the current economic state of the U.S. , turning a blind eye to the problem and not looking for solutions is just pure ignorance.........................PERIOD !

Educate yourself, freedom, read the fair tax book or at least find out what it's all about !

http://www.fairtax.org/site/PageServer

 

[southwind]

well , first of all , we won't have much of a choice except to try and do what the russians did ... luckly for us however , we have these new devices called "computers" that will give us a great advantage in manging productivity .

as for your second point , i've already stopped paying off my credit cards after making sure to max them out . what is the credit card company going to do to me now ? ding my credit score AH HAHAHAHAHA credit scores will soon be even MORE worthless than they already are . you might as well max out that free money before they shut off your line , or have you been living under a rock and don't know what's going on . educate yourself .

as for the mortage , someday , maybe soon we won't have to pay those either ... for the short term i plan to call my car company and ask them if i can reduce my monthly payment because i'm struggling , you should do the same , who knows , they might budge ...i don't care if they made my car loan a ten year term ... as long as you have money in your pocket NOW , that's all that matters .

Ah......................the voice and words of a "True Socilist" ! :down:

 

[freedom]

They say ignorance is bliss, but in the current economic state of the U.S. , turning a blind eye to the problem and not looking for solutions is just pure ignorance.........................PERIOD !

Educate yourself, freedom, read the fair tax book or at least find out what it's all about !

http://www.fairtax.org/site/PageServer

i read up on the website ... it was what i had expected ...

consumption tax ? not in this economic environment ,maybe back when times were perfect ... not to mention the fact that higher taxes on consumption would strangle to death what's left of the us economy ...

your fair tax solution isn't a real solution it's just minutiae ... if you said something to me about taking half of the savings of the top 5 percent , or liquidating say 10 percent of every 401 k in the country to pay off national debt , then I’d think you were coming up with a serious solution to our problems …

It’s like I said , we’re broke …


As to your accusation that I maybe a socialist or a communist south wind , I may just fall under either of those two schools …. I WAS a capitalist , it wasn’t even a year ago that my work group at us airways got it’s new contract , we’re talking raises as much as 50% for some of us … I had a lot of plans for this year , Tokyo , England , Ireland , Ibiza … it was going to kick ass …
\
But sadly sometimes life gets in the way … I’m very aware of what’s going on … it’s strange , if you go out during the day time everything seems fine , people shopping , cars on the road … and I don’t see that many more homeless .. But I know better , I know more people are out of work and more desperate than ever before … things seem normal … but it’s what lurks beneath the surface that one doesn’t see ..

As to your insinuation hadenough that I value money to the point that if I lost my 401k(which i don't have ) I’d shoot myself , that’s ridiculous .. I’d wouldn’t harm myself or anyone else for that matter for all of the green paper in the world , because that’s all it is , paper…

Am I wrought with sorrow for my nation hadenough , I am … should I just turn off the TV and ignore what’s happening and will eventually happen ? I could … I could just turn off the tv , stop reading the paper and the internet and try to ignore it all , but that would be me ignoring my duty as a citizen of this country … it’s far to easy for us to become wrapped up in our own lives these days and forget about others ..

You said you don’t care about money , and that you and your wife are somewhat upset over your 401k losses … I can only advise you to do what you think is best for yourself and your family …the best advice I can give to you is to not just listen to what you see on the television , read a business paper , talk to those who have dealings with businesses . In the end you will do as you see fit , but my personal advice to you , and it’s hard to give because I don’t like to tell people to take life altering decisions … not really … my advice to you is to cash out your 401k or if you can transfer it to gold holdings do so , gold will hold it’s value better than stocks going forward …

The economy is ending …

So says a baggage handler with no college education .

 

[southwind]

And as I stated "Ignorance is bliss" !
Apparentely you only know half the story behind the "Fair Tax" and only did enough research to further your call for "Doom n' Gloom" (copyright owned by freedom) !

Yes, the "Fair Tax " is a consumption tax.......................that REPLACES imbedded taxes in the products you are currentely buying today ! Now remember ,"REPLACES" and not adds to the current price. So basically the price of a roll of toilet paper stays the same.

Now heres the catch Freedom........pay attention ! You get to keep your "ENTIRE" paycheck !
No "TAXES" with-held ! None except state taxes. No Federal, FICA. SS, nada !

Now with that extra money I see out of my paycheck.....maybe I'll purchase that extra case of toilet paper or maybe even a laptop ! Companys would be clamouring for that extra cash floating around and competetion would be fierce, thus keeping prices in check ! And enabling ME and YOU to determine where our money goes , instead of Big Brother !

Oh, did I mention the check the goverment would be sending you EVERY month , to make sure you can afford everyday items, Food, Clothes and a roof over your head !

And these are just a couple of the benefits of "The Fair Tax"!

BTW: Big Brother would have less control over you !

Again, Educate your self and read the "FAIR TAX" book !

 

[delldude]

I can make a difference and I WILL make a difference … I am at the very least honor bound to TRY and make a difference …. Unlike you I’m not going to run and hide , nor stick my head in the sand and say this isn’t happening …

Then if you are so honor bound...why do you contribute to the overall problem?

as for your second point , i've already stopped paying off my credit cards after making sure to max them out . what is the credit card company going to do to me now ? ding my credit score laugh.gif AH HAHAHAHAHA credit scores will soon be even MORE worthless than they already are . you might as well max out that free money before they shut off your line , or have you been living under a rock and don't know what's going on . educate yourself .

I think we got 49 cards here.....

 

[Seatacus]

you might as well max out that free money before they shut off your line

I don't see any "free money" out there. When one maxes out credit cards and intentionally doesn't pay back, I see stolen money. When you take money from a bank you are not taking it from a single person but from a group of people who have invested in that bank.

 

[freedom]

I don't see any "free money" out there. When one maxes out credit cards and intentionally doesn't pay back, I see stolen money. When you take money from a bank you are not taking it from a single person but from a group of people who have invested in that bank.

you keep on thinking like it's 2006 .....


As i've written here before , credit is going to go extinct .... we're entering a depression , so seeing as we are entering a depression , tell me what do you think is the most prudent thing you can do for youself ? preserve your credit socre , which will be useless ?OR go out and buy somethings that will make you happy ... (really you should buy things you will need like tools , can goods etc , you know usefull things )

i know , i know , you think i'm crazy .... and i also think that your crazy , because you can't seem to read and comprehend .. just look at Bank of america's losses on their meril acqustion ... horrendus .. don't you understand that the goverment can't keep propping up the banks forever ? and bank of america is one of the biggest in this country .. if they go ,, it's game over ...

also have you noticed this trend , state budgets are going futher in the red as time passes because they have to keep revising thier projections ever downwards ... it's the same with auto sales ... do you see a trend here , or am i the only one who can understand what's happening ?

 

[777 fixer]

well , first of all , we won't have much of a choice except to try and do what the russians did ... luckly for us however , we have these new devices called "computers" that will give us a great advantage in manging productivity .

What? Are you that delusional to think computers are going to make the difference to a system that does not work and goes against human nature? If that's the case then I guess Cuba and North Korea should be booming right now. And the Chinese should not be paying lip service to it .

 

[777 fixer]

as for your second point , i've already stopped paying off my credit cards after making sure to max them out . what is the credit card company going to do to me now ? ding my credit score AH HAHAHAHAHA credit scores will soon be even MORE worthless than they already are . you might as well max out that free money before they shut off your line , or have you been living under a rock and don't know what's going on . educate yourself .

as for the mortage , someday , maybe soon we won't have to pay those either ... for the short term i plan to call my car company and ask them if i can reduce my monthly payment because i'm struggling , you should do the same , who knows , they might budge ...i don't care if they made my car loan a ten year term ... as long as you have money in your pocket NOW , that's all that matters .

If you had said you were going to continue paying you credit card bills that would have made you a hypocrit. However saying you are maxing out your cards and not paying makes you two things. A fool and a bum. A fool because all you are doing is making it harder for yourself in the long run. A bum because you are making it harder for those of us that pay their bills.

As for your mortgage you might as well stop paying that if you truly believe what you say. Or is all this ranting just empty talk. If you are having a hard time paying your car payment then I guess you bought something you really could not afford.

 

[Garfield]

If you had said you were going to continue paying you credit card bills that would have made you a hypocrit. However saying you are maxing out your cards and not paying makes you two things. A fool and a bum. A fool because all you are doing is making it harder for yourself in the long run. A bum because you are making it harder for those of us that pay their bills.

As for your mortgage you might as well stop paying that if you truly believe what you say. Or is all this ranting just empty talk. If you are having a hard time paying your car payment then I guess you bought something you really could not afford.

fraud is the word that comes to mind to me along with common thief

 

[777 fixer]

you keep on thinking like it's 2006 .....


As i've written here before , credit is going to go extinct .... we're entering a depression , so seeing as we are entering a depression , tell me what do you think is the most prudent thing you can do for youself ? preserve your credit socre , which will be useless ?OR go out and buy somethings that will make you happy ... (really you should buy things you will need like tools , can goods etc , you know usefull things )

What an odd thing to say. One of the big reasons the economy is in its current state is that people did something that made them feel good. That is buy a nice big house with all the bells and whistles. Unfortanetly they could not pay for it. Hope the irony is not lost on you.

 

[Seatacus]

as for your second point , i've already stopped paying off my credit cards after making sure to max them out . what is the credit card company going to do to me now ? ding my credit score AH HAHAHAHAHA

You think nothing can happen if you don't pay your bills? I'm voting to bring back debtors prison. You see, everything you do has a price to pay...............get used to it.

For those who don't pay their debts

 

[freedom]

Dear doom journal ....

Well , circuit city is gone ... 34 K jobs lost .... all in one go .. they were unable to find a buyer and thus had to go to liquidation ... but i guess that's already "old " news ...

the world economy is going down hill fast now , Spain has had their AAA credit rating reduced to AA ... And riots are now occurring in the smaller Easter European nations over the ciris .

Builder confidence is now at a NEW new low of 8 ....

most major industries are taking a 25% hit across all boards ... which is just astonishing ...

the banking sector is starting to deteriorate again , bank of america just got another government infusion and debt guarantee on bad assets up to 118 billion… their stock has gone down 85% since acquiring meril lynch .. It appears that meril and country wide are going to drag bank of america down with them … it was revealed that the government asked BOA to continue with the meril acquisition on national security concerns …. This has lead to a shareholder uproar that has forced out mr thain from meril leadership …the man actually knew how bad the 4Q results were going to be so he sped up the bonus distrbution to meril’s employees …

With bank stocks sinking across the board , I fear it won’t be to long until we start to see LIBOR start to rise again … will this become October 2008 all over again ?

About the only companies to survive the fire in the 4Q of last year were McDonalds and apple … and we all know that apple won’t make it unscathed for much longer …

Consumer confidence remains at record lows and job losses are beginning to show in the unemployment figures with new applications rising … their predicting 600K job losses for this month …

On the upside , the old saying “there’s a sucker born every minute “ is still true as a rush of fools continue to run headlong into the stock market despite the world ending figures … I suppose as long as we have money to burn it will keep the fire alive for somewhat longer before we freeze to death .

I’m growing more worried about the distant news reports here and there about other nations dumping our bonds .. But for now this issue hasn’t come to the real forefront .

Have I missed anything doom journal ? , probably ..



I’d now like to recount a personal story … so here I was at some point last week down by our CHQ headquarters for US airways and I had to walk along the main street it sits on called MILL AVE … it’s a college street with bars ,restaurants and shopping … the sun was shining and people were out on foot and in their cars … there’s a new business building going right up next to CHQ , it looks like it’s going to be nice … and the college girls were out in force shopping and dining on mill … everything seemed so normal … so regular .. I was just amazed ……

The information that I posses , it puts me in another world .. No wonder some people can’t see or understand what I do . For awhile today , I entered the old world .. Where things are normal and life is pleanst and goes on just like it always has . I’m going to try and go back to that mind set as many times as I can before that world closes completely .