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Post by whoswho on Oct 15, 2008 7:55:35 GMT -6
By the time China owns us 100% (which may be pretty soon), we won't be worth owning. The milk cow has been milked damn near dry already.
Maybe they will lose interest.
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Post by whoswho on Oct 15, 2008 6:56:25 GMT -6
I have reduced my reliance on credit cards of any kind, to almost zero. Ditto for checks. It took a little work, but it's do-able, and life is so much simpler and less stressful when you eliminate the middle man.
The only credit card that treats me like I want to be treated is Discover Card. Them, I like.
Those who get hateful, impudent, and grabby with me, I do not do business with. Old fashioned, but more my style.
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Post by whoswho on Oct 14, 2008 13:51:36 GMT -6
Heh, how differently people see things. I think he was right on, especially about Palin.
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Post by whoswho on Oct 10, 2008 12:09:44 GMT -6
I thought I'd seen some bad dips in the last ten years, but I believe this one is the worst yet.
The only consolation is, I suppose we'll all be poor together.
Hang on to your hats.
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Post by whoswho on Oct 9, 2008 10:15:57 GMT -6
Is it my imagination or is McCain trying to sound like Ronnie Reagan? Close your eyes and listen carefully to him. I swear, he's mimicking Reagan's voice.
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Post by whoswho on Oct 7, 2008 7:13:33 GMT -6
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Post by whoswho on Oct 6, 2008 10:17:16 GMT -6
Maybe she was running out of money (being close to 90) and mortgaged her house to get some ready cash?
Sigh. Never trust nobody. She would have been far better off to get money some other way. Go to the church and plead for some help, go to friends or relatives, heck go dumpster diving. Surely someone would have helped her if they had known she was in need.
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Post by whoswho on Oct 3, 2008 14:04:08 GMT -6
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Post by whoswho on Oct 2, 2008 12:13:39 GMT -6
I am spitting mad today.
I don't know if my eyeglasses were China made or not, but I am going to find out who made them and write them a letter.
Bought them at Lens Crafters and they were NOT cheap. I thought the new styles looked fragile, but I thought, perhaps not, maybe they have new and stronger materials so they can make the frames lighter nowadays.
Well, I've had them around six months now.
I've treated them more tenderly than any pair of glasses I've ever owned. Only wore them to work. As soon as I got home, I put them in their little box and put on a pair of old glasses. I never even wore them on weekends, and certainly never to do yard work or anything where they would get any kind of wear and tear at all.
This morning, one of the lenses fell out of the frames into the bathroom sink. Don't know whether they are scratched, but if they are, it is too late anyway.
The part of the frame that goes under the bottom part of the lense is screwed onto the top portion. Is this not the most idiotic design imaginable??
Guess I could just stop at Walmart and let them fix them, but no. I'm going clear back to the stupid mall, an hour away, to get them fixed. I want them to know what I think.
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Post by whoswho on Oct 2, 2008 8:16:27 GMT -6
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Post by whoswho on Oct 2, 2008 7:15:43 GMT -6
The breakdown went something like this: House members who voted yes received an average $231,877. Those who voted no received only $150,982. Democrats who voted yes received $212,700. Republican supporters received $273,181.
No-vote Democrats received only $107,993. Republicans who voted no received $181,688.
More money for a minute of their time than I could make in five years. And if you're a Republican, your vote is worth more. Sickening.
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Post by whoswho on Sept 30, 2008 13:45:02 GMT -6
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Post by whoswho on Sept 30, 2008 9:07:26 GMT -6
I suppose it depends on how much house you are buying?
But I've never seen the day I regretted buying my house. It makes no sense to me to put some one else in control of my living arrangements. In my experience, they usually abuse the privelege.
No thanks, I'll stay where I am. I find that taxes are not that egregious of a burden to me. IMO, it is the most minimal invasion of my rights, as compared to putting an unsympathetic and greedy person in control.
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Post by whoswho on Sept 26, 2008 6:44:56 GMT -6
If American workers should "get over" losing their jobs, then I think American corporations should just "get over" not being financially bailed out by the government.
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Post by whoswho on Sept 24, 2008 12:10:55 GMT -6
Thank God I was born in 1953, thank God for a wise, devoted, stay at home mother, and two parents who stuck together til death, and all the wonderful blessings from that. How I would love to bottle that and give it away freely, I wish everyone had it.
Palin puts a chill in me.
At first, I was kind of enthused over her, she seemed so positive, very able to hold her own. The more I watched her though, the more I was a little frightened. I like to vote for someone I wouldn't mind having for a boss. If I think I couldn't hack them for a boss, then I run like the wind.
She looks like a gal who is *going* to have her way. Period. Damn the torpedos, full speed ahead, my way or the highway. I think she and McCain are a totally mismatched set, unequally yoked. I think she is being sadly used to further his interests, and I think she doesn't mind being used.
I don't understand why we bypass much better female candidates in favor of someone who is so "iffy". The whole thing stinks to me, and I think she is actually contrary to the true spirit of feminism. I think she would promote her own interests and not necessarily advance any other woman's.
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Post by whoswho on Sept 22, 2008 13:30:26 GMT -6
that is petty. I think you hit the nail on the head with "Maybe the idea was to look like a humble house wife" the other possibility: the McCain campaign is simply incompetent. Dkos got a lot of flack for making fun of a McCain mailer where they didn't airbrush his teeth. but it does reveal that there may be holes in the organization. Other than that- i would want to get back to the issues... Agito, I do have to kid you about this SOME, my sense of orneriness is overwhelming me..... would you REALLY trust a person with a pointy head?? www.reuters.com/resources/r/?m=02&d=20080904&t=2&i=5856707&w=&r=2008-09-04T024411Z_01_N19287444_RTRUKOP_0_PICTURE1Beware, beware, of people with short necks and/or pointy heads....... ;D
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Post by whoswho on Sept 22, 2008 11:45:08 GMT -6
Just out of curiosity, why don't you go ahead and pay off your mortgage now, since you have the money to do it?
That way you'd kill two birds with one stone. You couldn't lose your money due to a bank failure then, because you wouldn't have any, and, you would own your house outright, which is always a reason to party.
Just a simple mind asking simple questions.....
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Post by whoswho on Sept 16, 2008 13:17:20 GMT -6
A great article from financialsense.com: www.financialsense.com/fsu/editorials/stathis/2008/0915.html"Payback is a B.... by Mike Stathis, Managing Principle, Apex Venture Advisors | September 15, 2008 Print Despite attempts made by Greenspan and Bernanke, there is no way to avert the payback period that has been building for over two decades. Over this stretch, America has consumed much more than it has produced. As a result, both consumer and federal debt have ballooned to record levels. And now, the payback period is upon us. The bailout buffet won’t end with Fannie and Freddie. There’s a lot more where that came from because the “Fed’s food court” remains open, as does that of the U.S. Treasury. In fact, the autos are in the process of being bailed out with $50 billion in “loans.” I expect the airlines to also receive some form of a bailout as well. Washington’s Three Stooges But Greenspan and Bernanke have not been alone in what will surely be remembered as America’s Financial Apocalypse - the eventful period ushering in a decade-long depression, as predicted in my 2006 book by the same title. Certainly, President Bush did not create these trends. But his financial irresponsibility has accelerated their magnitude. In less than eight years, he has managed to increase the national debt by 90%. As the data shows, not only has he led the worst recovery since the post-WWII era, he has also positioned his successor with budget shortfalls for many years to come due to Part D Medicare, the Iraq War, and his tax cuts for the wealthy. Combined with the staggering deficits for Medicare and Social Security, America’s economy will be in the gutter for many years to come even after the banking and real estate troubles cool down. No one else is talking about these issues because they’re wrapped up in the daily drama. But save this article and others I’ve written because I’ve been mentioning the longer-term problems ever since writing my book. In a few years, more people will begin to address these issues once they are transformed into daily drama. President Bush’s attempts at a recovery have been so horrendous they’ve actually led to the current recession, which will turn out to be the worst in decades. I would venture to guess he is desperately pleading with officials to come up with even more gimmicks to hide the full realities of the economy so the worst will be reported only after he leaves office. But I will guarantee you if Washington and the Fed continue this reckless game of applying band aids instead of letting things play out, we will see a much bigger crisis down the road, similar to what happened after Greenspan tried to mitigate the dotcom collapse. You can bet this is going to happen because Washington does not understand the meaning of preemption. Altogether, we have had eight years of no gains in real median wages, flat stock market returns, and minimal net new jobs. Despite what you have heard, after adjusting for debt spending, population growth and realistic adjustments to the GDP deflator, there have only been 3 or 4 quarters of GDP growth since 2005. If you adjust for military, government and minimum wage positions – i.e. jobs funded by tax payers and jobs that don’t pay anything - there have been absolutely no net new jobs. Bush’s largest gains have been with inflation, oil and food prices, debt, trade deficits, bankruptcies, foreclosures, and healthcare costs. If an assembly of the world’s leading economic strategists were to design the most destructive economic disaster possible, they could not match the results of Bush’s tenure. Even the most loyal Bush supporters will admit he has been an absolute disaster – that is if they’re being honest. America is now more dependent on foreign nations than ever – not only for oil, but also credit and manufactured goods. America’s “Resilient” Economy Many of the pundits flood the propaganda networks with repeated denials of the problems, boasting how resilient the U.S. economy is. You know who they are. I’m not quite sure what they’ve been smoking. But it appears to be some sort of hallucinogen because they seem to expect Superman to bend the economy back into shape. Ladies and Gentlemen, in case mommy never told you, there is no Santa Claus and there is no Superman. And if you think Bernanke’s printing presses have an endless supply of ink and paper, just wait until the real crisis appears. So you had better get ready because it’s coming. It is virtually inescapable. And it’s going to cause devastation around the globe. Of course I’m taking about the likely implosion of the CDS market. Let’s take a look at America’s “resilient economy.” Let’s see…the entire financial system is in the process of blowing up. Already there have been over $500 billion in bank losses, with over $1 trillion more to come. Over one dozen banks have failed, with hundreds on deck. A handful of large hedge funds have blown up, with hundreds more on the way. Already, over $1 trillion has been transferred from the Fed to the banking cartel. But I estimate another $1.5 trillion will be needed to maintain liquidity as banks de-leverage over the next few years. Unemployment is now over 6% and inflation is over 5%, even with Washington’s manipulation of the data. Virtually every metric in the housing market is at multi-decade lows, except for foreclosures which are hitting new highs. Taxpayers are now on the hook for billions of dollars of potentially worthless debt held by Fannie and Freddie. It’s now official. America’s free market economy is really a socialist system for corporations. One could argue this to be a form of Fascism. My best estimate for losses due to the Fannie and Freddie taxpayer bailout are between $200 to $500 billion. The worst case scenario would be $800 billion. If this economy is resilient, I can’t wait to see how it magically bounces back. When Superman fails to show up, Washington might consider giving David Copperfield a call. But this would be one illusion he won’t be able to pull off. Get the popcorn ready. The Economy Under a Microscope Let’s take a closer look at the economy. America imports oil, credit, and manufactured goods, while exporting jobs, junk bonds and inflation (via the dollar-oil link – see www.marketoracle.co.uk/Article5414.html for an explanation). That doesn’t sound like the type of trade policy that would support claims of a superpower, unless you’re only counting the number of nukes. Surely Washington is beginning to wonder how much longer Asia and Europe will continue fueling America’s credit bubble. They’ve already faced massive losses from sub-prime securities with much more carnage to come. China holds about $1.4 trillion in U.S. Treasuries, but only due to their its surplus with the U.S. It can’t dump Treasuries yet because the Yuan remains greatly undervalued. China pegged it to the dollar back in 2001, knowing the dollar would plummet so they’d lure dollars from U.S. consumers looking for bargains. What most people don’t realize is that China’s support for U.S. Treasuries helps finance Bush’s irresponsible spending sprees. By financing up to 90% of each annual deficit, China helps keep interest rates low in the U.S., which facilitates credit expansion for consumers to buy more imports - mainly from China (due to the low cost items created by China’s currency peg). Hidden Imports Keep in mind when you buy that Dell computer or Fossil watch, you’re really buying imports. Dell and Fossil actually resemble distributors more than manufacturers because virtually all of their products originate overseas. The same is true for most U.S. companies that sell branded goods. In many cases, the same is also true for the service segment of the economy. Many American IT and software development firms outsource projects to India, Canada, and other nations so they can escape the costly retirement and healthcare benefits Americans expect. By no means does it end there. For several years, U.S. banks, tax providers, telecommunications and several other industries have outsourced to Asia - so much for the “strength” of America’s service economy. If this service economy is so “strong” someone explain to me how Asia has been able to increase its living standard by leaps and bounds in such a short period. Before you answer, keep in mind that income and wealth are finite over short periods since they are limited by human and natural resources. Make sense? If not, let me know and I’ll do a write-up explaining it next time. Corporate America’s new trend is to outsource even lower on the food chain to nations like Argentina, as a way to find more desperate workers to enslave at a lower cost. While these jobs seem like a Godsend, foreign workers will soon see the longer-term effects of corporate globalization. Already, many U.S. corporations have finessed themselves into the hip-pocket of foreign politicians and other officials to discourage unions, ensuring wages remain low and benefits never materialize. 再見 (See Ya’ Later) Yankee As the economy continues its downward spiral, it remains to be seen how much longer China keeps its currency undervalued once it realizes U.S. consumers have no more money to buy their goods. Once the verdict is out, China could begin to focus on internal growth as the recession spreads globally. The global effects are already surfacing, with inflation soaring, real estate plummeting and foreign banks scrambling as they wait for the next Bear Stearns. The Chinese government could encourage its consumers to spend domestically. This would prove as a great strategy to buoy its economy since Chinese have amble savings (they save 25% of household income). Thus, once China is convinced U.S. consumers are finished, there is a good chance it will begin a gradual sell-off of U.S. Treasury securities. And this is going to be a huge problem. The Middle East also has a huge trade surplus with the U.S. But unlike China, it has no incentive to hold U.S. Treasuries. Instead, Middle Eastern investors use their petrodollars to buy hard assets – commercial real estate like the Chrysler building, businesses and other critical U.S. assets. Yet, they still can’t seem to find enough things to buy, so many Middle Eastern cities are being gutted and turned into modern architectural wonders. In the recent past when U.S. banks have begged for mercy, Dubai, Kuwait and Saudi Arabia have handed over billions from their sovereign “oil extortion” funds. But they’ve learned their lesson, so I wouldn’t expect anymore bailout money anytime soon. Never fear! The Fed and the U.S. Treasury are here! The Federal Reserve Disaster The Fed needs to let a real recession run its course to clear out the trash so the economy can begin a real recovery and expansion. They’ve been playing this boom-bust game for several years now. And all we have seen are illusions of growth followed by the realities of mismanagement and excess consumption. Running the printing presses in overdrive won’t get America out of this mess. It hasn’t helped in the past and it’s not going to now. In fact, using the money supply to hold off a recession and prevent bank failures ensures there will an even more devastating crisis down the road. Greenspan tried the same move in response to the Internet meltdown. And as we all know, this led to the current real estate bubble and banking crisis. But even shutting down the Fed’s printing presses is insufficient for a lasting and real recovery. Washington absolutely must restructure free trade so that the playing field is level for all participant nations. This implies that America structure a universal healthcare system. And America’s badly broken free market system must be repaired, because as it stands today, it represents socialism for the wealthy. As a result of the combined actions of Washington’s Three Stooges, the harsh effects of this corrective period will send America into its worst recession in several decades. Thereafter, a silent depression will persist for many years as Americans struggle to keep pace with inflation, job quality continues to decline and opportunities for the working class vanish into thin air. While U.S. living standards have been in decline for over two decades, the silent depression will accelerate and make these declines more permanent. It’s highly unlikely the rest of the world will be able to escape the pain caused by Washington’s Three Stooges because the dollar-oil link is used to hold every nation financial hostage. China will feel the effects as will India; and yes, even Brazil. Unlike America’s fate, these developing nations will mount a full recovery. And the lessons learned could strengthen the pressure to dethrone the dollar as the universal currency. But don’t expect Washington to take this lying down. In fact, it might eventually lead to a major war. Perhaps the only region that will have some insulation from the meltdown will be select oil-rich nations in the Middle East. But they aren’t likely to walk out of this completely unscathed due to contained oil demand. But let’s not forget that OPEC has control over pricing. The payback period is going to affect virtually everyone. And for those who think they will avert the payback – namely those most responsible for this mess - like Washington’s Three Stooges and bank CEOs - their payback will lat eternity because their role in America’s Financial Apocalypse will be recorded in history books. Copyright © 2008 Mike Stathis Editorial Archive"
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Post by whoswho on Sept 11, 2008 13:40:00 GMT -6
Something I don't understand... Ok, her family is supposed to be "off limits". So why then did she bring every single one of them to the Republican convention? If they are supposed to be invisible and irrelevant, why then flaunt them? Why not just bring the husband, and leave everybody else at home?
I know this sounds terribly petty, but as a woman, I do notice stuff like this: Does she fix her own hair? It is not a complement to her. When she was giving her big speech, as she turned her head to the side, it looked like she had a big point on the back of her head. Looks like she would have enough income to hire a competent hair dresser, especially for so important a job. Maybe the idea was to look like a humble house wife?
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Post by whoswho on Sept 11, 2008 6:38:41 GMT -6
Are ANY Fidelity funds doing anything worth a damn?
Seems like all I do is lose money. I didn't know if it was because I didn't make good choices, or whether the bad economy made them ALL bad choices.
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Post by whoswho on Sept 4, 2008 9:10:45 GMT -6
Eh, you gotta watch out for them "likeable" people.
What she has is what Hollywood movie stars possess, such as Ronald Reagan. Sure, I LIKED him very much, I'll admit that. But he did more to destroy a good country than any man I can think of...... Smiling all the way!
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Post by whoswho on Sept 4, 2008 8:21:19 GMT -6
I would very much have to agree with all of the comments here. I was downsized at age 43 in 1997 under what would look like splendid conditions, compared to some of the sadly unfair separation deals I am reading about now.
NOTHING in my entire life, and I'll even include my father's suicide in the bag, has impacted on my life as NEGATIVELY as this has. It has brought down almost every single facet of my life, and I SINCERELY don't seek to make this some kind of a boohoo posting, I just want to be 100% honest with you.
I think this insane trend will destroy us in more ways than we can ever imagine.
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Post by whoswho on Sept 3, 2008 6:19:05 GMT -6
Got this very interesting email this morning:
"This is from a college classmate and old friend. read it, weep, and pass it on to anyone ---
Dear classmates -
As an Alaskan, I am writing to give all of you some information on
Sarah Palin, Senator McCain's choice for VP. As an Alaska voter, I
know more than most of you about her and, frankly, I am horrified that
he picked her.
The most accurate description of her is red neck. Her husband works in
the oil fields of Prudhoe Bay and races snow mobiles. She is a life
time member of the NRA and has worked tirelessly to allow
indiscriminate hunting of wildlife in Alaska, particularly wolves and
bears. She has spent millions of Alaska state dollars on aerial
hunting of these predators from helicopters and airplanes, dollars
that should have been spent, for example, on Alaska's failing school
system.We have the lowest rate of high school graduation in the
country. Not all of you may think aerial predator hunting is so bad,
but how anyone (other than Alaska wolf-haters, of which there are
many, most without teeth), could think this use of funds is
appropriate is beyond me. If you want to know more about the aerial
hunting travesty, let me know and I will send some links to
informative web sites.
She has been a strong supporter of increased use of fossil fuels, yet
the McCain campaign has the nerve to say she has 'green' policies. The
only thing green about Sarah Palin is her lack of experience. She has
consistently supported drilling in ANWR, use of coal-burning power
plants (as I write this, a new coal plant is being built in her home
town of Wasilla), strip mining, and almost anything else that will
unnecessarily exploit the diminishing resources of Alaska and destroy
its environment.
Prior to her one year as governor of Alaska, she was mayor of Wasilla,
a small red neck town outside Anchorage.The average maximum education
level of parents of junior high school kids in Wasilla is 10th grade.
Unfortunately, I have to go to Wasilla every week to get groceries and
other supplies, so I have continual contact with the people who put
Palin in office in the first place. I know what I'm talking about.
These people don't have a concept of the world around them or of the
serious issues facing the US. Furthermore, they don't care. So long as
they can go out and hunt their moose every fall, kill wolves and bears
and drive their snow mobiles and ATVs through every corner of the
wilderness, they're happy. I wish I were exaggerating.
Sarah Palin is currently involved in a political corruption scandal.
She fired an individual in law enforcement here because she didn't
like how he treated one of her relatives during a divorce. The man's
performance and ability weren't considered; it was a totally personal
firing and is currently under investigation. While the issue isn't
close to the scandal of Ted Steven's corruption, it shows that Palin
isn't 'squeaky clean' and causes me to think there may be more issues
that could come to light. Clearly McCain doesn't care.
When you line Palin up with Biden, the comparison would be laughable
if it weren't so serious. Sarah Palin knows nothing of economics
(admittedly a weak area for McCain), or of international affairs,
knows nothing of national government, Social Security, unemployment,
health care systems - you name it. The idea of her meeting with heads
of foreign governments around the world truly frightens me.
In an increasingly dangerous world, with the economy in shambles in
the US, Sarah Palin is uniquely UNqualified to be vice president. John
McCain is not a young man. Should something happen to him such that
the vice president had to step in, it would destroy our country and
possibly the world to have someone as inexperienced and inappropriate
as Sarah Palin. The choice of Palin is a cheap shot by McCain to try
to get Hillary supporters to vote for him. when McCain introduced her
today, Palin had the nerve to compare herself with Hillary and
Geraldine Ferraro. Sarah Palin, you are no Hillary Clinton.
To those of you who, like me, supported Hillary and were upset that she
did not get the nomination, please don't think that Sarah Palin is a
worthy substitute. If you supported Hillary, regardless of what you
think the media and the democratic party may have done to undermine
her campaign, the person to support now is Obama, not Sarah Palin. To
those of you who are independent or undecided, don't let the choice of
Palin sway you in favor of McCain. Choosing her shows how unqualified
McCain is to be president. To those of you who are conservative, I
guess you have no choice for president. But please try to see how the
poor choice of Palin tells us a great deal about McCain's judgment.
While the political posturing inherent in the choice of Palin is
obvious, the more serious issue is the fact that the VP is, literally,
a heartbeat away from the presidency. Sarah Palin is totally and
unequivocally unqualified to be vice president, let alone president.
I know this is a lengthy and emotional email, but the stakes are high.
I thought it might help for all of you, regardless of political
affiliation, to know something about Palin from someone who has to
live with her administration in Alaska on a daily basis.
Jackie S."
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Post by whoswho on Jul 9, 2008 13:24:14 GMT -6
I'll bet the Chinese are polluting their country at an astounding rate. Apparently there are no laws there against dangerous practices that have long been banned in this country.
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Post by whoswho on Jul 9, 2008 13:20:26 GMT -6
Too much too much too much. Waaaaay too much overbuilding. Why is it that Taco Bell can tear down their perfectly good restaurant to build a bigger new one, but I can hardly afford a few home repairs? It seems that businesses have a pipeline to money that I don't know about. Walmart had a perfectly good store in my area..... took over an entire hilltop to build an even bigger one, and deserted the old one... which stayed empty for two or three years. THEY TORE IT DOWN and are now building a huge Penney's, when we already had a Penney's. How can they ignore the financial realities this way? I honestly don't think this area can support all the businesses that they are so confidently building.
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Post by whoswho on Jul 3, 2008 11:10:50 GMT -6
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Post by whoswho on Jun 6, 2008 7:43:41 GMT -6
What do they mean, "change the definition of old age"?? Can I tell my body what to do? I'm almost 55, and I'm ready to go NOW. If I keep working til 70, I might as well have a casket waiting for me to crawl into at my retirement party. I'm beginning to think, pi$$ on 401k's, JUST.... SAVE.... MONEY. Just put it in passbook savings, CD's, and savings bonds. Live like a pauper now so you'll have something left for later.
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Post by whoswho on Jun 3, 2008 9:18:25 GMT -6
Predictions? This is just strictly my own dumb ideas, but I have a feeling that life as we have known it in the last twenty years is going to take an extreme change. I believe that now that China has firm control over a lot of our manufacturing, they will use that power to their own advantage and to our disadvantage. I think the overproduction of "stuff" will cease, and we will slip into an era of greater dearth of material goods. It might be well to hang onto the stuff gathering dust in the garage, because it may start looking damn good to you. The idea of keeping a spic and span house devoid of all yardsale-able stuff may become as foolish as the idea of owning a gas guzzling Hummer.
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Post by whoswho on Jun 3, 2008 8:48:01 GMT -6
Doesn't sound like a good idea to me, Jimmy. That's a huge chunk of money, or it would be for me. Takes a long time to save that much, and it would probably take a very long time to build the 401k back up again to where it was.
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Post by whoswho on May 14, 2008 12:13:11 GMT -6
...... Down that rabbit hole of course lies decades of slower consumer spending and productivity - not a good macro-level trend at all, but it is a reality we cannot avoid. market-ticker.denninger.net/But we can avoid it, by bringing back all the good paying jobs we have outsourced. I think it has been the inevitable outcome of two pervasive social trends. It IS partly from unbridled spending habits (gotta have EXACTLY what I want, and gotta have it RIGHT NOW.... can't delay it, or find another way). And it is, as you say, because our "normal" incomes have been castrated. For some reason, the powers that be have expected us to spin gold out of straw, and I think a lot of people tried to do just that, and meet those expectations. So what you have is denial of reality from the masters, and mirrored denial from their servants.
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