If this bill passes, some financial suggestions for all of you.

[oreo]

If this new so-called stimulus package passes the senate, this will be the first time in history when Mexico will be building a fence to keep Americans out of their country.

Since I survived the Carter Adminstration, with Paul Volker as Federal reserve chairman, & whom Obama has chosen to head his so-called economic recovery team. I have a few suggestions for Americans trying to save what they have worked so hard for. I am also a small business electrical contractor who also survived the economic disaster of the late 70's, early 80's. I also know stocks, bonds, & currency trading. I know financials very well, & remember very clearly what happened, when our government overspends & borrows.

With this huge bill, we are going to be borrowing from other countries. Expect to see hyper-inflation within the coming years.

Some suggestions for all of you:

1. Expect to see credit card interest rates in the 30 to 50%. range (for people with good credit.)
2. Expect to see fixed rate 30 year mortages over 20%. So re-finance as soon as possible in the lower rates.
3. Keep all your remaining assets liquid. Meaning that you are able to transfer money, to money market funds & or to certificate of deposits that will pay out big returns for your money. These deposits are now guaranteed to $250,000 K. No risk here. During the Carter administration if you had cash or liquid assets, one was able to put their money into an 18 month certificate of deposit, that paid 18% interest. So keep your assets very liquid!
4. It probably wouldn't be a bad idea to invest in a little gold either. Gold more than doubled during the Carter years, reaching back then, a high of $800.00 per ounce. This is a long term investment--do not get scared out of it.

And finally GOOD LUCK!

 

[RodISHI]

Good time to have actual money huh?

 

[Modbert]

And people say Eots is bad. You're making your assumptions over the Carter Administration. These are not only different times you wingnut but different Presidents, different policies in several areas,etc.

Though what Carter did great for all his faults was focus on alternative energy. In fact, he put solar panels on the White House that were taken down by guess who? Reagan.

 

[Ravi]

Thanks for the offer, Cookie, but I'm not about to take advice from someone that thinks poor people are responsible for the economic meltdown.

 

[Modbert]

Thanks for the offer, Cookie, but I'm not about to take advice from someone that thinks poor people are responsible for the economic meltdown.

He believes that?

 

[Kevin_Kennedy]

If we see hyper-inflation we've got bigger problems than you are addressing here. Take a look at the history of the Weimar Republic for an accurate view of what hyper-inflation does. Imagine wheel-barrels full of dollars for a single loaf of bread.

Though I do agree with your suggestion to invest in gold, but that's never a bad idea.

 

[Annie]

If this new so-called stimulus package passes the senate, this will be the first time in history when Mexico will be building a fence to keep Americans out of their country.

Since I survived the Carter Adminstration, with Paul Volker as Federal reserve chairman, & whom Obama has chosen to head his so-called economic recovery team. I have a few suggestions for Americans trying to save what they have worked so hard for.

With this huge bill, we are going to be borrowing from other countries. Expect to see hyper-inflation within the coming years.

Meaning:

1. Expect to see credit card interest rates in the 30 to 50%. range (for people with good credit.)
2. Expect to see fixed rate 30 year mortages over 20%. So re-finance as soon as possible in the lower rates.
3. Keep all your remaining assets liquid. Meaning that you are able to transfer to money market funds & to certificate of deposits that will pay out big returns for your money, which is of course guaranteed, no risk here. During the Carter administration if you had cash or liquid assets, one was able to put their money into an 18 month certificate of deposit, that paid 18% interest. So keep your assets very liquid!
4. It probably wouldn't be a bad idea to invest in a little gold either. Gold more than doubled during the Carter years, reaching back then, a high of $800.00 per ounce.

And finally GOOD LUCK!

Agreed. The 'depression' will hit in 2010, without a doubt. Too much $$$ sloushing about, with more to be 'created.'

 

[Annie]

And people say Eots is bad. You're making your assumptions over the Carter Administration. These are not only different times you wingnut but different Presidents, different policies in several areas,etc.

Though what Carter did great for all his faults was focus on alternative energy. In fact, he put solar panels on the White House that were taken down by guess who? Reagan.

Style over substance, but you fail to understand. Make that refuse to understand.

 

[oreo]

I lived through the Carter administration--I know financials very well, as I am not only very long term investor, but have owned my own small business for more than 30+ years including, during the Carter administration, & remember very clearly what went up & what went down.

Hyper-inflation is coming. Watch for it--watch the short term interest rates & above all keep your assets very liquid!

If you don't take my advice--then so be it--learn it on your own!

 

[Kevin_Kennedy]

I lived through the Carter administration--I now financial business, as I am not only an investor but have owned my own small business & actually surived during the Carter administration.

If you don't take my free advice--then so be it--learn it on your own!

All your advice is fine, I just think you're confusing high levels of inflation with hyper-inflation.

 

[Modbert]

Style over substance, but you fail to understand. Make that refuse to understand.

Actually that more describes Oreo. This depression has not yet hit rock bottom, that much is true. However, Oreo is trying to make it out to be Barack Obama's fault; sorry Republicans, it isn't.

Your boy georgie did that little dance and tune and we're going to be feeling the full effect of it plenty soon.

#3 and #4 on dumbass's list is things people should always do anyways. You'd want to keep as much money as available to you as possible and Gold is never a bad investment. If you have even looked at Gold's worth lately, it's around $911.40-$914.40 an OUNCE.

So obviously we must be in a depression if it went up to $800 during the Carter's years.

Though if anyone has even taken the time to analyze the symptoms of a depression, people would realize we've been in one for awhile now.

 

[Modbert]

I lived through the Carter administration--I know financials very well,, as I am not only very long term investor, but have owned my own small business during the Carter administration, & remember very clearly what went up & what went down.

If you don't take my free advice--then so be it--learn it on your own!

Your advice is called common fucking sense. If people don't have that by now, their problem. I know financials very well too and I can tell you right now that you can blame Barack Obama all day long but it isn't his fault that the depression will reach the level it's going to.

Currently, he's trying to slow down the bleeding that will occur because of it. He knows full well that stopping it is impossible.

 

[Annie]

And people say Eots is bad. You're making your assumptions over the Carter Administration. These are not only different times you wingnut but different Presidents, different policies in several areas,etc.

Though what Carter did great for all his faults was focus on alternative energy. In fact, he put solar panels on the White House that were taken down by guess who? Reagan.

You are going to rue this post, trust me.

 

[Modbert]

You are going to rue this post, trust me.

Why's that? Barack Obama is not Jimmy Carter unless Barack Obama all of a sudden became a White Peanut Farmer from Georgia.

Barack Obama has more of a backbone then Carter since Obama has continued bombings in Pakistan; Carter wouldn't even get our hostages. (Though to this day I think Reagan made a deal but that's just me.)

It's not the 70's, it's 2009 and America along with the global landscape is highly different. If you had told most people 30+ years ago that China would be a Superpower beginning to give the U.S. a run for it's money; they'd laugh at you.

And it's true, Carter was a big supporter of Alternative energy; especially Solar energy. He was/is highly dissapointed how we really made no progress in the amount of people % wise who use solar in this country and I can't blame him. And yes, Reagan did take the solar panels off the White House, they are now in the Carter library.

And rue it huh?

 

[Annie]

You are going to rue this post, trust me.

Why's that? Barack Obama is not Jimmy Carter unless Barack Obama all of a sudden became a White Peanut Farmer from Georgia.

Barack Obama has more of a backbone then Carter since Obama has continued bombings in Pakistan; Carter wouldn't even get our hostages. (Though to this day I think Reagan made a deal but that's just me.)

It's not the 70's, it's 2009 and America along with the global landscape is highly different. If you had told most people 30+ years ago that China would be a Superpower beginning to give the U.S. a run for it's money; they'd laugh at you.

And it's true, Carter was a big supporter of Alternative energy; especially Solar energy. He was/is highly dissapointed how we really made no progress in the amount of people % wise who use solar in this country and I can't blame him. And yes, Reagan did take the solar panels off the White House, they are now in the Carter library.

And rue it huh?

Did you 'choke' on Carter and 'out hostages'? Perhaps a typo?

Carter was the reason for the hostages, did we get an apology? Did they? No.

 

[xsited1]

The bill will pass. Obama wants it and Congress is controlled by the Democrats. Bad things will happen, so your suggestions are appropriate.

 

[Modbert]

Did you 'choke' on Carter and 'out hostages'? Perhaps a typo?

Carter was the reason for the hostages, did we get an apology? Did they? No.

Nobody got a apology. The U.S. had done some shitty things to Iran before that.

Though you can bet vegas odds that Reagan made a deal for those hostages to be kept there until after the elections and he got in office.

 

[Modbert]

The bill will pass. Obama wants it and Congress is controlled by the Democrats. Bad things will happen, so your suggestions are appropriate.

Or people should just take his two suggestions already. #1 and #2 are just predictions.

 

[RodISHI]

If we see hyper-inflation we've got bigger problems than you are addressing here. Take a look at the history of the Weimar Republic for an accurate view of what hyper-inflation does. Imagine wheel-barrels full of dollars for a single loaf of bread.

Though I do agree with your suggestion to invest in gold, but that's never a bad idea.

Could very well happen. I believe it may be a few years down the road yet though.

 

[oreo]

If we see hyper-inflation we've got bigger problems than you are addressing here. Take a look at the history of the Weimar Republic for an accurate view of what hyper-inflation does. Imagine wheel-barrels full of dollars for a single loaf of bread.

Though I do agree with your suggestion to invest in gold, but that's never a bad idea.

Hey darling! I am the author of this post, lived it, been there, survived it. I know other countires have been there, but let me tell you for the United States--we may end up with currency that is absolutely worthless--with all this debt.

DID YOU KNOW: That during the great depression of the 1930's Mexican Peso's were actually tradable currency along the southwest border of our United States? That is a fact.

The Mexican Peso which currently trades at 14 pesos to 1 dollar was worth more than one U.S dollar back during the great depression.