Comments on: I Say Again ” Its Still The Economy Stupid” Depression Looms http://www.bloggernews.net/114473 High-quality English language analysis and editorial writing on the news. Sat, 30 Aug 2008 14:23:37 +0000 http://wordpress.org/?v=2.3.3 By: mttom http://www.bloggernews.net/114473#comment-258890 mttom Sat, 15 Mar 2008 18:53:38 +0000 http://www.bloggernews.net/114473#comment-258890 One of the huge problems in this mess is the failure to use accurate statistics, yesterday Bear Sterns is fine today their bankrupt. The unemployment level is modest, when you don't count the folks who gave up looking for work, inflation is low when you don't include energy and food which are too hard to calculate, personal savings isn't really negative because we all have social security, consumer debt isn't bad since wages have gone way up (for the top 5%). It's the belief that half truths, or white lies will save the economy and everyone will be just fine. Of course when the truth comes out it really hurts, big time. One of the huge problems in this mess is the failure to use accurate statistics, yesterday Bear Sterns is fine today their bankrupt. The unemployment level is modest, when you don’t count the folks who gave up looking for work, inflation is low when you don’t include energy and food which are too hard to calculate, personal savings isn’t really negative because we all have social security, consumer debt isn’t bad since wages have gone way up (for the top 5%). It’s the belief that half truths, or white lies will save the economy and everyone will be just fine. Of course when the truth comes out it really hurts, big time.

]]> By: Chatno http://www.bloggernews.net/114473#comment-258176 Chatno Sat, 15 Mar 2008 03:24:12 +0000 http://www.bloggernews.net/114473#comment-258176 Or this could be the slide into the GREAT TRIBULATION. Or this could be the slide into the GREAT TRIBULATION.

]]> By: RacerX http://www.bloggernews.net/114473#comment-258102 RacerX Sat, 15 Mar 2008 01:15:41 +0000 http://www.bloggernews.net/114473#comment-258102 I concur with much of your dire assessment. But I do not agree that the Blame-o-crats are the solution. I think they will kill business much quicker than the R's. At least the R's will try to keep the businesses going. Yes they screw the common-man--but be honest, both sides do. It's a con from both sides. I concur with much of your dire assessment. But I do not agree that the Blame-o-crats are the solution. I think they will kill business much quicker than the R’s. At least the R’s will try to keep the businesses going. Yes they screw the common-man–but be honest, both sides do.

It’s a con from both sides.

]]> By: t3r8over http://www.bloggernews.net/114473#comment-258062 t3r8over Sat, 15 Mar 2008 00:30:31 +0000 http://www.bloggernews.net/114473#comment-258062 Perfectly said.My family and I are at the bottom of this sewer and we have seen this coming for years.The manufacturing base is trashed,the environment is putrid,and America,my beloved country,elects Ronald Reagans... "Don't worry,it's morning in America". The damage Republicans have done to this country is appalling. Perfectly said.My family and I are at the bottom of this sewer and we have seen this coming for years.The manufacturing base is trashed,the environment is putrid,and America,my beloved country,elects Ronald Reagans… “Don’t worry,it’s morning in America”. The damage Republicans have done to this country is appalling.

]]> By: Onda Money http://www.bloggernews.net/114473#comment-258060 Onda Money Sat, 15 Mar 2008 00:30:04 +0000 http://www.bloggernews.net/114473#comment-258060 I think you my friend have hit the nail on the head. I can't blame folks entirely - they have been hypnotized by a television society that portrays the surreal as the real and many have lost the ability to distinguish the bullshit from the bull. Expectations were manipulated, economic numbers were manipulated, laws were manipulated, when the truth is revealed we are all naked and not very pretty. People need to start planning now, to make a huge disaster into a livable disaster. Non-perishable food purchased now at before superinflation prices would be a good thing to stock up on. Save some cash and stop buying crap you don't need, and can't use just because its on sale or your friend/neighbor/celebrity on tv has one. Start thinking about getting to know your neighbors better, you may have to depend on them, especially if it gets real bad for awhile. A gun might be a good thing to own, but only if you want to take the time and effort to learn how to use it and then have the wherewithall to actually use should you need to. Expect electricity disruptions,some will be deliberate by the authorities to quiet the angry, otherwise will be looters stealing power lines for the metal content. Candles and flashlights are cheap and very handy. Money in the bank, might not be such a good thing if your bank is closed/bankrupt/or otherwise unavailable for long periods "bank holidays" were the depression era term? How will the new charlatans spin this one? Asset realignments? Remonetizing accounts? Think about where you could store some assets and what form they could take, barter goods? precious metals, currency, you'll probably need a little bit of everyone of these. Buy shoes and canned goods, probably wouldn't hurt to stock up on booze, it makes a great barter good and in the event things take a turn for the better they make a great nightcap at any hour of the day. My folks grew up in the depression and I heard many a story. I lived on cash as much as is possible in this "new economic model" world. My parents couldn't give me a lot of worldly goods, but they gave me an understanding of the importance of money, and the instabilities of the world. I am not super wealthy, but I'm not in debt, have a sizable savings/investments and enough cash to live for a few years without a job. My fear is the currency collapse and runaway inflation which appears to be the deliberate policies of our current administration. Plan for the worst and hope for the best. We are heading into the valley, but remember there is light on the other side and we will reach it if we just keep putting one foot in front of the other. I hope we are wrong, I really do. I think you my friend have hit the nail on the head. I can’t blame folks entirely - they have been hypnotized by a television society that portrays the surreal as the real and many have lost the ability to distinguish the bullshit from the bull. Expectations were manipulated, economic numbers were manipulated, laws were manipulated, when the truth is revealed we are all naked and not very pretty.

People need to start planning now, to make a huge disaster into a livable disaster. Non-perishable food purchased now at before superinflation prices would be a good thing to stock up on. Save some cash and stop buying crap you don’t need, and can’t use just because its on sale or your friend/neighbor/celebrity on tv has one.

Start thinking about getting to know your neighbors better, you may have to depend on them, especially if it gets real bad for awhile. A gun might be a good thing to own, but only if you want to take the time and effort to learn how to use it and then have the wherewithall to actually use should you need to.

Expect electricity disruptions,some will be deliberate by the authorities to quiet the angry, otherwise will be looters stealing power lines for the metal content. Candles and flashlights are cheap and very handy.

Money in the bank, might not be such a good thing if your bank is closed/bankrupt/or otherwise unavailable for long periods “bank holidays” were the depression era term? How will the new charlatans spin this one? Asset realignments? Remonetizing accounts? Think about where you could store some assets and what form they could take, barter goods? precious metals, currency, you’ll probably need a little bit of everyone of these.

Buy shoes and canned goods, probably wouldn’t hurt to stock up on booze, it makes a great barter good and in the event things take a turn for the better they make a great nightcap at any hour of the day.

My folks grew up in the depression and I heard many a story. I lived on cash as much as is possible in this “new economic model” world. My parents couldn’t give me a lot of worldly goods, but they gave me an understanding of the importance of money, and the instabilities of the world. I am not super wealthy, but I’m not in debt, have a sizable savings/investments and enough cash to live for a few years without a job. My fear is the currency collapse and runaway inflation which appears to be the deliberate policies of our current administration.

Plan for the worst and hope for the best. We are heading into the valley, but remember there is light on the other side and we will reach it if we just keep putting one foot in front of the other.

I hope we are wrong, I really do.

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