Re: Self-Fulfilling Prophecy

On 1/21/2009 8:57 PM BryanUT mumbled something about the following:

On Jan 21, 6:40 pm, Calgary <actual.ridernos...@xxxxxxxxx> wrote:
On Wed, 21 Jan 2009 16:41:38 -0800 (PST), BryanUT





<nestl...@xxxxxxxxxxx> wrote:
On Jan 21, 5:16 pm, Calgary <actual.ridernos...@xxxxxxxxx> wrote:
On Wed, 21 Jan 2009 14:56:18 -0800 (PST), BryanUT
<nestl...@xxxxxxxxxxx> wrote:
On Jan 21, 2:56 pm, Turby <turbosur...@xxxxxxxxxxxx> wrote:
On Wed, 21 Jan 2009 09:34:56 -0600, Chuck Rhode
<CRh...@xxxxxxxxxxxxxx> wrote:
Big Media is not shy nor slow about putting nationalization of all the
country's banks on the new administration's agenda. Does anybody want
this?
Got any better ideas?
People talk about capitalism vs socialism. That dichotomy was dead a
long time ago. Eisenhower warned about the military industrial
complex, but it's gone way beyond that. The government subsidizes
farmers and veteran homebuyers, business investors, and it's the
nation's largest employer. Government has been intricately involved in
the economy for eons. We can only quibble about how much.
I got nervous about the economy last year and moved all my 401K money
into the _most_ stable fund available. Guess what? All that money went
into a fund that itself invested in AIG, Fannie Mae and Freddy Mac.
When you put money in a bank savings account, the bank turns around
and invests it in corporate America. It's not just big investors whose
wealth is at stake - it's every person in the world. I don't own any
GM stock, nor do I own a GM vehicle, but there are millions of jobs at
stake, from suppliers, to realtors and doctors who depend on GM.
If we let the huge banks and the giant corporations like AIG and GM
fail, we _know_ there will be a collapse of the world's economy.
Pumping massive funds into them may not stave it off, but it's about
the only recourse. I have investment friends who are convinced the
markets are still headed for steep declines. Some think the Dow will
go below 5000.
Drastic times call for drastic measures.
--
Turby the Turbosurfer
Even "The Econonmist" agrees:
http://www.economist.com/blogs/freeexchange/2009/01/why_not_nationali....
What a mess we are in.
I don't mean this as a challenge but I have to ask are things really
that bad down there?
Looking around in my corner of the world if it wasn't for all of the
negative media reports I would hardly notice the decline in the
economy.
Yep, no food lines that I see. Unless I make it a point to go to the
homeless shelter. (Which every should do, just to see. Get out walk
around, talk to the people, don't be afraid)
But I do notice the number of House for Sale signs. They are way up.
Granted my meager long term investments have taken a beating,
I'm down 30%. A co-worker nearing retirement is down a quarter of a
million dollars. He has turned off his "days to retirement" clock.
but I
still own them and am confident by the time I would care to cash them
out their value will improve.
That is my hope also, I've got 10-15 years.
In fact sometime in the next few years I
firmly believe we will witness the best days ever for the markets. I'd
like to have a piece of that.
I ain't that optimistic.
Fuel costs are a fraction of what they were only six months ago. The
Prime rate in Canada was just reduced to the lowest level in history.
Housing prices are approaching the reasonable level.
I'm not borrowing money. Fuel costs only affect me because they affect
others.
Yes Alberta lost 16000 jobs last month compared to the month before,
but there were significantly more people employed last month than the
year before. I don't recall the number but it was large.
Utah was once a shining star of job growth. That has ground to a
halt.
The cost of living seems to be dropping and community service levels
are improving. At the same time taxes are going down.
Not here.
No one I know has lost their job or are in jeopardy of losing their
homes.
The U is looking at near 20% budget cuts due to drop in state tax
revenue. That is drastic.
Trust me, 20% is not good.
Teachers aren't getting the pay for performance bonuses they were
promised.
I know things may get worse before they get better and no ones
employment is secure or immune from economic influences, but then
again it has always been that way. The way I look at it, if my job
disappears due to a slow down in growth, I was looking for a job when
I found this one, so aside from enjoying a hell of a ride for the last
decade I would be no worse off.
Yes you would. Expcept you damn socialist Canucks have health care.
Here in America you would be on your own.
I don't mean to minimize the current economic problems. It will take
wise men and women making the tough decisions to guide us out of the
current stagnation, but it will happen. The only question is how long
will it take and what will the long term cost be.
Yes.
One of my summer jobs when I was a teen was working for Vancouver
Parks. They started me as a swamper on a one ton truck working out of
Stanley Park, On my second day we were driving with a very light load
through downtown Vancouver at lunch on a hot spring day. You can
imagine what the scenery was like. The driver of the truck told me he
had the second best job in the entire Parks department. I asked who
had the best. He told me I did, I didn't even have to drive. <g>
The best job I ever had was "student", washing dishes, pouring
concrete, playing golf and skiing.
That said the US is in the second best position to ride out the storm.
Second only to Canada.
Well at least we aren't rioting like Iceland. :)
Look for opportunities folks, there will be plenty on the horizon.- Hide quoted
I see lots of bikes that are really good deals, unfortunately, the mad
money I had in stocks has taken a pounding and thus I can't take
advantage. :(
I took the risk and can only blame myself.
It takes money to make money, some say.
You know Bryan all of those consequences fall into the category of
inconveniences. I don't mean to diminish their importance, but having
to delay retirement, while disappointing is not tragic. Missing a
performance bonus still leaves you enough income to take care of your
family.

You have a roof over your head, a motorcycle in the garage and a
family to share your life with. On any scale, that's not bad.- Hide quoted text -

- Show quoted text -

I couldn't really agree more.

Despite all our bitching and moaning all us white north america and
european males can't really complain. Life is damn good. Damn good.

And I'd like to keep it that way (without standing on the backs of the
poor).

My oldest daughter and her husband are both out of work. The plant where he worked has laid off quite a few works (Tyson foods). She's an LPN, and took off work for maternity leave 9 months ago, and decided not to go back to work when her maternity leave was over. She's now having trouble finding a job in what would many would think is a recession proof job. Nurses are always in demand, right?

My next daughter left here with her son and moved to Tampa hoping to find work. She only has a GED that she worked her ass off for (she has minor mental disability) and is a hard worker, but even McDonalds isn't hiring.

Two of my sisters are now out of work and looking. My brother, who is in construction is barely working (no one is building new homes because they can't sell the ones they have already built).

I'm lucky that I have a job in a business that is almost recession proof, but I don't have to look far to see how bad it is.

--
Odinn
RCOS #7 SENS BS #154
.

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