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

[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.

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.

If you're referring to the 70's you didn't live through hyper-inflation, you lived through stagflation.

 

[oreo]

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.

No, I am NOT blaming Barack Obama for this. He inherited a huge economic mess. My problem with Barack Obama is he trying to do the exact same thing that FDR did in the 1930's & that was & still is a mistake. FDR with all good intentions tried to solve the problem by all these government paid for programs. Instead he only lenghtened the depresssion into what was is, & still referred to as the great depression. What brought ut out of this was WW2.

Obama should be following John F. Kennedy & Ronald Reagan instead of FDR.

 

[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.

If you're referring to the 70's you didn't live through hyper-inflation, you lived through stagflation.

Obviously you weren't there in the late 70's. Anyone who lived through that period, knew that inflation was above 10%. "Double digit inflation"-- Stagflation was not an issue during the Carter Adminstration.

Hmm--but you put my brain to work as far as what we are experiencing today--which is very much like the depression. "Stagflation" Thank you for reminding of that. But I can assure you that stagflation did not exit in the late 70's early 80's.

Yesterday, I went to J.C Pennies to buy my husband some blue collar work shirts. Of Course, nothing fancy, as he works construction, & his shirts never last long. But when the cashier told me that I saved $140.00 dollars on those shirts, I almost laughed. As I would never spend that much money on something I knew would never last that long.

These shirts normally sold for $42.00 & I got them for approximatley $7.50 each. The mall was almost vacant--& yes store fronts were closed.

But, I still believe in the private sector. I believe if Americans are left alone, without government interferrance (like Feddie & Fannie) we are capable of doing anything. Once government moves their sticky fingers into the private sector they "always" screw it up. Our federal government is ground zero for this economic mess, & now they're trying to fix it with--our grandchildren & our unborn great grandchilren signing this huge mortgage.

 

[Kevin_Kennedy]

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.

If you're referring to the 70's you didn't live through hyper-inflation, you lived through stagflation.

Obviously you weren't there in the late 70's. Anyone who lived through that period, knew that inflation was above 10%. "Double digit inflation"--

Yes, inflation was certainly high. But there wasn't hyper-inflation in the 70's, because the dollar wasn't practically worthless.

 

[Red Dawn]

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.

. Expect to see credit card interest rates in the 30 to 50%. range (for people with good credit.)

Expect to see fixed rate 30 year mortages over 20%. So re-finance as soon as possible in the lower rates.

Interesting theory.

My guess? I think this prediction will turn out just like the "We'll be treated as liberators!" prediction.

 

[Richard-H]

A question about Hyper-inflation:

I very vaguely recall that in the 1970s, to deal with hyper-inflation, Isreal institued an policy of indexing salaries and wages against the inflation rate.

Does anyone recall or have any info about this?

I'm sure that the Repubs will find the idea of indexing salaries & wages repugnant, but please try to control yourself....

 

[editec]

I have some good advise to wealther the economic storm, too.

Paint your houses with gold leaf.

Be sure to store at least enough food and water for 30 years.

Build your own nuclear reactors to assure yourself that your toasters will still work.

Hire a private mercenary army of obedient zombies to protect you from marurding gangs of unemployed IRS agents.

Always keep at least one trillion dollars in cash of every nation just in case.

Keep you gold bricks in the vegetable crisper.

Never EVER get sick.

What?

You mean you don't all have the resources to do all the above?

Well whose fault is that?

Nobody but yours.

It isn't our faults that you didn't prepare for the future.

Face it, you fucked up.

You weren't to the manor born and so don't blame those who were.

We were just every so much smarter than you, so we all deserve to live and we would greatly appreicate it if you po; folks would quietly shuffle off that mortal coil so we can enjoy the world without having to hear you guys bitching about the fact that we're rich and you're starving,

Thank you for your attention.

The new improved Libertarian edtiec.

 

[midcan5]

And when none of this BS speculation comes true, will you eat your ideas and grow away from the easy cliches of wall street's corporate whores?

 

[rayboyusmc]

When it works, they will find another reason for the recovery.

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

Since the Democrats won the election, it would seem that they should be in control. When your side was in control, they sure as hell didn't push the democratic agenda.

You do realize that Obama was elected no McCain. It will take some repubs to vote for it also. Obama tried to work with the right. He made concessions. Their leadership just gave him the finger. Now that they have called it total porkula, Vitter says he needs time to read the bill. Hmmmm, so they think it sucks and they never read the whole frigging bill.

As to bad things happening, what the fuck do you think is going on now with the shit your little hero left US?

Denial, denial, denial.

 

[Skull Pilot]

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.

what people forget is that solar panels in the 70s were so inefficient that there would never be a point where the money spent would be eclipsed by the money saved on electricity costs.

But yeah, it was a good investment at least by government standards.

 

[American Horse]

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!

With a slightly different take on the culprit (Volker) Oreo is spot on. I too lived through those terrible years. How painful was it then? Here are some statistics from the Federal Reserve and the Bureau of Labor Statistics: The prime rate reached 20 percent in April 1980; 30-year fixed-interest rates were at 18.4 percent in October 1981; the inflation rate reached 14.7 percent in April 1980; and the unemployment rate hit 9.6 percent in 1983, and then went lower as the new Reagan/Milton Friedman/Paul Volker disciplines took effect.

My own career in home building and land development spans 1970 - to 2006. The so called Reagan recession was a necessary disciplin needed to tamp down 15 pct inflation, and 20 pct prime interest rates. Volker was Reagan’s tool, and Milton Friedman his guru for achieving that. Just before Reagan took office I was paying 18 pct interest on a construction loan and had to sell on contract at 8 pct, being underwater for 10 pct. Rates on new projects were at 21 pct with at least 50% loan to value ratio.

But by the end of 1981 I was building on two good contracts which at least paid the interest on my business loans with a little left over. The new work had come about from a new confidence in economic policy which created and shifted jobs away from industry as those jobs were shed to entrepreneurship. When unemployment reached 10% they were actually much higher since many self employed people were out of work and they were not reported in the statistics. Since the self employed are not entitled to unemployment insurance, they don’t show up in those figures.

Right now would be a good time to keep CDs to short term renewals to be ready when higher rates come about. But early CD renewal penalties will be insignificant compared to the higher earnings on the new rates which are sure to come. Money market funds? Recently they actually lost value sinking below $1.00 per share price, but that problem will probably go away with high interest rates.

...

 

[editec]

I was just looking for work as a teacher when the recession started.

I ended up being a janitor, then ran and eventually owned, a carpet cleaning company which I sold after a few years because the apratments in Boston were all pretty much going CONDO and that carpet cleaning business was basically doomed to shrink as those aprtments were sold.

I spent a lot of time on the road after that growing sytematically poorer, but having a mostly great time catching up on all the fun I missed while in the Service and in college.

Things looked might bad for a while, though, for most people, especially those young kids from the MidWestern industrial states, let me tall yas.

Eventually, thanks to a cold snap in Key West, I ended up homeless for a while.

I started recovering economically in the mid 80s but essantially lost opportunity is never found.

The recession of the last 70's and early 80's were one of those forks in many of our roads which forked a lot of us so badly that many of us never really recovered the momentum of our careers.

I hope this recession doesn't do that to you younger people just starting out your careers, but know that there is life after disappointment.

Life is what happens while you are planning other things, folks.

 

[RodISHI]

I have some good advise to wealther the economic storm, too.

Paint your houses with gold leaf.

Be sure to store at least enough food and water for 30 years.

Build your own nuclear reactors to assure yourself that your toasters will still work.

Hire a private mercenary army of obedient zombies to protect you from marurding gangs of unemployed IRS agents.

Always keep at least one trillion dollars in cash of every nation just in case.

Keep you gold bricks in the vegetable crisper.

Never EVER get sick.

What?

You mean you don't all have the resources to do all the above?

Well whose fault is that?

Nobody but yours.

It isn't our faults that you didn't prepare for the future.

Face it, you fucked up.

You weren't to the manor born and so don't blame those who were.

We were just every so much smarter than you, so we all deserve to live and we would greatly appreicate it if you po; folks would quietly shuffle off that mortal coil so we can enjoy the world without having to hear you guys bitching about the fact that we're rich and you're starving,

Thank you for your attention.

The new improved Libertarian edtiec.

Boy I am sure glad I was born with what they call that "silver spoon" in my mouth. I may have to head back to the parents houses.

 

[WillowTree]

When it works, they will find another reason for the recovery.

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

Since the Democrats won the election, it would seem that they should be in control. When your side was in control, they sure as hell didn't push the democratic agenda.

You do realize that Obama was elected no McCain. It will take some repubs to vote for it also. Obama tried to work with the right. He made concessions. Their leadership just gave him the finger. Now that they have called it total porkula, Vitter says he needs time to read the bill. Hmmmm, so they think it sucks and they never read the whole frigging bill.

As to bad things happening, what the fuck do you think is going on now with the shit your little hero left US?

Denial, denial, denial.

You are DUmb as dirt. Kerry On!

 

[KMAN]

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.

Robert, why don't you get off your ass and go develop some affordable alternative energy then and stop bitching about other people. But you won't because you are like all Democrats... Other people need to abide by your rules but you are exempt... Just like all of the Democrats who aren't paying their taxes... Hell they don't mind raising taxes on others because they know they won't have to pay it....

 

[American Horse]

I was just looking for work as a teacher when the recession started.

I ended up being a janitor, then ran and eventually owned, a carpet cleaning company which I sold after a few years because the apratments in Boston were all pretty much going CONDO and that carpet cleaning business was basically doomed to shrink as those aprtments were sold.

I spent a lot of time on the road after that growing sytematically poorer, but having a mostly great time catching up on all the fun I missed while in the Service and in college.

Things looked might bad for a while, though, for most people, especially those young kids from the MidWestern industrial states, let me tall yas.

Eventually, thanks to a cold snap in Key West, I ended up homeless for a while.

You must've been one of those guys I saw getting a really really good tan by spending a lot of time at the beach.

I started recovering economically in the mid 80s but essantially lost opportunity is never found.

I really never did really recover, nor get back the momentum I'd had before. But the fault was mine and the choices I made. I always based my career on the wrong thing. It was never really money that mattered to me but the joy of my job. It was never really work but a lark with the excitement of taking great risks ! I accept the fact that I really wasn't able to lay away much more retirement than SS; that and the skills I still have, a few shrinking bucks, and some land to sell to get by on when I run out of energy and my knee joints shut me down, will have to do.

Life is what happens while you are planning other things, folks.

I wouldn't have had it any other way....