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Our economic Future Has Been Stolen
"World Bank Under Cyber Siege in 'Unprecedented Crisis'"
If there ever was a crystal ball to the future of the economy this was it.
Now is gone.
Now they would like to cover it up so we wouldn't find out.
http://www.foxnews.com/story/0,2933,435681,00.html
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JPhelps
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10/10/08 09:22am |
General RVing Issues
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RE: Doom and Gloom!
Speaking of AIG...
The first time was fun. Let do it again.
http://www.foxbusiness.com/story/markets/industries/finance/aig-executives-blow--getting-bailout/
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JPhelps
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10/08/08 02:07pm |
General RVing Issues
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RE: If bail out passes and works
Well, looks like the stock market is going to tank anyway.
Long lasting recession in the works.
Homeless ranks swelling.
More foreclosures coming.
More banks going under.
Jobless numbers set to rise dramatically.
Lots of small and medium size industries going bankrupt.
Some local and state governments will need bailout.
ETC, etc.
But I think the bailout is going to work.
At least we will be able to save the bloated big money connected banks.
WHEW! I was worried for a while, but once again our glorious leaders have showed their true colors and stepped up to the plate. ;)
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JPhelps
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10/06/08 11:22am |
General RVing Issues
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RE: Doom and Gloom!
The Richest Country on Earth?...or....third world country?
Look at the figures and then decide.
http://thepoliticsofdebt.com/?p=344
This article is from April. A lot has happened since then.
Check out the sources though.
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JPhelps
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10/01/08 06:46pm |
General RVing Issues
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RE: The Economy & Bail Out Options
It doesn't matter where the money comes from as long as it gets into circulation. It can come from individual taxpayers just as well as it can come from the banks. As long as people spend the money it will get to the banks as deposits. Didn't you watch the cartoon on the news that explained it all?:)
Basically what fed was geting from the banks for their 700 billion was a post dated IOU that would come up for review by congress at the end of the IOU's 5 year term. Not for repayment, just for review. They can do that for taxpayers as well as they can do it for banks.
There are too many banks around anyway. The little berg up the road from me isn't even large enough to have a post office, I don't think it is even incorporated, but it has 3 banks, 2 grocery stores, 3 gasoline stations, etc. Why do they need so many banks?
The market is already up over 2% this morning. I think the lack of trust in the federal government is just as much a factor in the markets volatility as the lack of trust in wall street. Since the H.R. voted down the bailout it has restored some trust in the government, and therefore some trust in the market. Losing those large banks will be no problem to the economy as long as people trust the market enough to spend their money. The large majority of taxpayers don't trust wall street banks or the federal government. The action yesterday restored some of that trust.
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JPhelps
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09/30/08 09:13am |
Around the Campfire
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RE: The Economy & Bail Out Options
My take is that the fed should just send each taxpayer $2,333 and let us put it into circulation. It would help the liquidity crisis just as much as giving it to the banks. That would solve two problems really, the liquidity crisis and it would get rid of some of those bank managers that like to gamble with other peoples money.
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JPhelps
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09/30/08 08:23am |
Around the Campfire
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RE: Doom and Gloom!
Maybe the reason it didn't pass is that there could just possibly be enough members of the house that still have a conscience and still know the difference between right and wrong.
I think the bailout would just delay the inevitable anyway. If it goes bust now instead of dragging out maybe we can start rebuilding now instead of later.
JMHO
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JPhelps
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09/29/08 04:35pm |
General RVing Issues
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RE: Is today a good day to buy Fannie and Freddie
?
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JPhelps
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09/29/08 08:39am |
Around the Campfire
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RE: Doom and Gloom!
Anyone that thinks the USA is third world needs to get out more and visit more than just where the tour bus takes you.
I agree we have it pretty good in the USA, but we are running on momentum right now. We have two ways we can balance the books. We can print money to pay the debt, which will make it worthless, or we can use our avaliable assets to pay the debt, which will leave us with little of value. We don't have enough real manufacturing to build new wealth.
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JPhelps
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09/29/08 06:57am |
General RVing Issues
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RE: Doom and Gloom!
Seems like many posters here are wasting there time just giving us lowly RVers their insight, they should work for the government as economists. With all of their good advice we wouldn't be in this mess
Looks to me like anyone that can add well enough to balance a checkbook, and not loan money to someone that doesn't have the means to repay would qualify.;)
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JPhelps
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09/29/08 06:36am |
General RVing Issues
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RE: Doom and Gloom!
The United states is a third world country. Most people just haven't figured it out yet. Figure up the trade deficit in dollars per year per household. Then figure up the national debt in dollars per household. Add on the AIG bailout, the mortgage bank bailout, and all the other recent and very near future bailouts in dollars per household. Add on the average household debt.
Now subtract that from the average household income.
I haven't figured it up because I think I don't even want to know.
This is a very simplified scenario but it covers some of the basics.
This mess is world wide but foreign interests are buying up US assets at an increasing pace. We have a shrinking manufacturing base and high labor rate. Foreign nationals are taking over our jobs in the US because they will work for less. We are being shut out in our own country by corporations that now have to compete globally, and many of them have moved manufacturing overseas and got incentives from our Fed to do it. This market crisis we are in now will only help to equalize our living standard with the rest of the world. We will never fully recover to the point we were before. The top 1% are getting richer and the bottom 80% are not getting richer in the US and I expect that trend to continue.
The health of an economy in usually expressed in a monetary unit (like in a balance sheet) instead of how lucky or confident you feel. I don't think our sheet will balance. That is what makes me have no confidence at all in what Wall Street and the Fed is doing. When they balance our income with our outgo I will get a little confidence.
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JPhelps
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09/28/08 08:42pm |
General RVing Issues
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RE: WaMu Gives New CEO Mega Payout as Bank Fails
The Boards of Directors, over paid in almost all cases, of these corporations are the ones that hire and negotiate the contracts of the CEO's, over paid in almost all cases. It is just like a government, a good ole boy network. Since the board makes the rules they can get away with it in most cases. It takes a lot of money for 'a' person to influence the vote of a board of directors, and if you have that much money it puts you right in there as another good ole boy. It its very difficult to get a concensus among average stockholders of a corporation to change a vote.
So I put the blame for the whole thing on these less than genius individuals that have a highly overinflated sense of self worth and a very low moral integrity.
I put a private business owner in a very different category, since they are using their own money for their livelyhood and are therefore much more diligent in its use.
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JPhelps
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09/27/08 07:26am |
Around the Campfire
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WaMu Gives New CEO Mega Payout as Bank Fails
That's right, $20 million for 17 days on the job ... and his company failed.
http://www.foxnews.com/story/0,2933,428641,00.html
Hey, its a tough job, but somebody has to do it. Right??
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JPhelps
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09/26/08 12:57pm |
Around the Campfire
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RE: Just a country boys solution to the AIG bailout
Yep,
I figure the big ($700,000,000,000) bailout, if distributed to each household (all types) in the US would come out to $6250. US Census estimates 112 Million households in '08.
Distributing the money to households with the stipulation that it be spent on mortgages or home improvement or capital investment would do more for the liquidity crunch than giving it to the banks, since the ones that will get the money have proven they don't know how to manage money. Let the failed banks fall. The ones that are left will take up the slack, and deservedly so.
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JPhelps
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09/26/08 12:42pm |
Around the Campfire
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History Repeats Itself
On a much larger scale.
Quick response a loser.
Slow response a larger loser.
http://www.bloomberg.com/apps/news?pid=20601109&sid=au3.PKtIo9oM&refer=home
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JPhelps
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09/23/08 07:03am |
Around the Campfire
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RE: fuel injector cleaners????
Sea Foam works wonders on gummed carburetors. It would probably work just as well on gummed injectors.
It saved me lots of money on my outboard motor. I thought its three carbs would have to be rebuilt but Sea Foam saved the day.
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JPhelps
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09/21/08 11:21am |
Around the Campfire
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RE: FDIC,,,, is it really safe?????
"Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, 'Account overdrawn.'" - Ayn Rand - Atlas Shrugged
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JPhelps
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09/18/08 08:57am |
Around the Campfire
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RE: Strange boat trailer - can it be fixed? (Repost with pics)
So, my question is, can I put on a tongue jack and move the axles back to where the is some weight on the tongue? I just don't like the thought of towing a trailer with a negative tongue weight.
Any thoughts?
Yes you can. That will fix the problem. It is not a good idea to tow without the correct tongue weight. Never know when it might bite you in the stern.
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JPhelps
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08/22/08 07:16pm |
Towing
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RE: Chart for tire load and inflation?
I use the chart that came with my truck ('01 Dodge) in my owners manual packet. Maybe the newer trucks don't come with them anymore?
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JPhelps
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08/15/08 08:19pm |
Tow Vehicles
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RE: Best 150cc Motor Scooter for the Money?
Yes, Kymco is good.
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JPhelps
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08/14/08 09:31pm |
Around the Campfire
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