BS: What to do in a great depression?

Subject: BS: What to do in a great depression?
From: Donuel
Date: 10 Aug 07 - 10:44 AM

What strategies are helpful in countering the effects of a US/global economic collapse?

Should one take steps to avoid any possible run on the banks?


Areas of interest:
Energy needs like heating and fuel.
Food
Labor pools/friends&family.
Paper money vs. metals
transportation


I'm not suggesting that 7 million forclosures alone will spark an "armageddon in the market or that Chinese selling off US Treeasury notes after the Olympics will cause a global depression. I only want to pose a cautious "what if" question and choose a scenario for the best success in the eventuality that the wealthy (beyond belief) will not cover their losses and choose ro rather let it trickle down.

Afterall many of you have been 100% correct in predicting the outcome of the failed policies that have come home to roost.

Subject: RE: BS: What to do in a great depression?
From: Riginslinger
Date: 10 Aug 07 - 11:24 AM

Spend a lot of time sitting around, recalling how we got here, and throwing darts a pictures of Ronald Reagan hanging on the walls.

Subject: RE: BS: What to do in a great depression?
From: Amos
Date: 10 Aug 07 - 11:28 AM

Build a cash reserve.

Build a similar reserve in gold coins.

Verify you can get water.

Ensure you have a portable radio which will work. Preferably multi-band.

Keep a season's wood stacked up somewhere if you have a house.

Keep your powder dry.


A

Subject: RE: BS: What to do in a great depression?
From: Donuel
Date: 10 Aug 07 - 11:34 AM

The SEC is now investigating if banks are hiding their losses.
3 Hedge Funds have been suspended because their assets could not be determined.


The train we saw 25 miles down the track 2 years ago is now a 100 yards away and picking up speed.

The only thing we have to fear is greed itself.

Subject: RE: BS: What to do in a great depression?
From: Donuel
Date: 10 Aug 07 - 11:50 AM

My idea was that churches will try to become a helpful cooperative but it has its devisive flaws.
Since many people live in suburban enviorments perhaps location trumps religion. Rethinking the grass lawns into food gardens and neighborhood cooperatives seems viable.

Certainly some old feudal strategies could easily return.

Subject: RE: BS: What to do in a great depression?
From: SINSULL
Date: 10 Aug 07 - 11:59 AM

My family lived together all in one house and combined their incomes to survive the last Depression. Before they found a house they could buy for cash, they moved in the middle of the night from one apartment to another to avoid the landlord. Nana ran a restaurant. My father's job first thing in the morning was to remove the hobo signs chalked in front of the place. She never turned away a hungry soul. Before you get all misty-eyed, Nana Sullivan was a tough old bird who ruled her family with an iron fist. They all survived the Depression and none contracted the flu during the pandemic.
Goodnight, John Boy!

Subject: RE: BS: What to do in a great depression?
From: Rapparee
Date: 10 Aug 07 - 12:16 PM

Go down to the library and dig out the stories of those who survived the last one. Don't worry about the reasons for the crash -- the reasons for a train wreck don't matter when you're clawing through the wreckage trying to get out.

And ignore the so-called "survivalists".

Subject: RE: BS: What to do in a great depression?
From: Peace
Date: 10 Aug 07 - 12:25 PM

"RE: BS: What to do in a great depression?"

Take your Prozac and get on with your day.

Subject: RE: BS: What to do in a great depression?
From: Bee
Date: 10 Aug 07 - 12:30 PM

During my personal youthful 'great depression' of joblessness, I found having a few useful skills to trade helped. I painted signs for money, food, clothing, and sessions in an isolation tank (don't knock it 'til you've tried it). I cooked meals for a working friend, and ate with him. I traded light maintenance jobs (painting, cleaning halls, tightening screws on loose cupboard doors, etc.) for rent reductions.

Subject: RE: BS: What to do in a great depression?
From: GUEST,ibo
Date: 10 Aug 07 - 12:30 PM

have a nice cup of tea and a piece of cake

Subject: RE: BS: What to do in a great depression?
From: Mickey191
Date: 10 Aug 07 - 12:32 PM

Amos, You're saying to build a cash reserve. Do you mean cold hard cash in hand? My $ is in CD's. Is it a given that FDIC will fail--it does seem they'd be unable to cover all of those investments.

Where is Jimmy Stewart when you need him? He stopped a bank run.

I _just_ renewed my IRA for another year--some other CDs have a couple of years to go before coming due.On these I'd lose 6 months interest for early withdrawal. ?????????????

Any advice appreciated.

Subject: RE: BS: What to do in a great depression?
From: pdq
Date: 10 Aug 07 - 12:38 PM

Most of my money is in CDs too. Trouble is, they ain't wosth as much when they're used. Anyway, whatever happens, nobody's gettin' my collectuion of Doc Watson.

Subject: RE: BS: What to do in a great depression?
From: Amos
Date: 10 Aug 07 - 01:16 PM

Well, depends on your circumstances; but ideally, you'd have a worst case bottom line emergency store of gold coins somewhere within reach for a backup position if everything went to hell in a hand-basket. Plus a store of cash -- maybe a month's worth -- in case of a bank closure.

That's just my view on it.


A

Subject: RE: BS: What to do in a great depression?
From: GUEST,non-depressive
Date: 10 Aug 07 - 01:52 PM

The best book on the subject of surviving is The Y2K Survival Guide. Obviously meant for the 'Millenium Crisis,' but it's packed with information and strategies.

Only problem I saw with the book was in the writer's mention of matches. Keeping lots of matches on hand. I bought a hundred Bic lighters on eBay. Be able to light a fire the rest of my life now, if I don't take up smoking.

Subject: RE: BS: What to do in a great depression?
From: Peace
Date: 10 Aug 07 - 02:38 PM

Know how to hunt.

Subject: RE: BS: What to do in a great depression?
From: Mickey191
Date: 10 Aug 07 - 02:51 PM

Oh Crap Bruce!   I sold my rifle. There is some kinda wildlife under my kitchen sink though. I'll get me some traps.

Subject: RE: BS: What to do in a great depression?
From: John Hardly
Date: 10 Aug 07 - 04:16 PM

I had a depression in my car fender once. I took a simple bathroom plunger to it and the sucker pulled it right out.

Subject: RE: BS: What to do in a great depression?
From: Sorcha
Date: 10 Aug 07 - 04:45 PM

You can't eat gold or money. Store food. Store water. Learn to barter. Learn to hunt (and eat what you kill unless you are seriously vegan. It kinda helps not to be in this situation)

Stop being spoilt and squeamish about food. Eat what is put in front of you and don't complain.

Learn some herbal medicine to help keep the Dr bills down (but DO go when you really need to). Read a bunch of Foxfire books. It can be done because it has been done.

Subject: RE: BS: What to do in a great depression?
From: Q (Frank Staplin)
Date: 10 Aug 07 - 04:46 PM

Go to a state with a good penal system and commit a few robberies. When you are caught, try to get a sentence that will last out the depression (Bad-mouthing the judge may help). You will be fed an adequate diet, lose that belly fat.

Subject: RE: BS: What to do in a great depression?
From: Rapparee
Date: 10 Aug 07 - 04:47 PM

1. Get out of a big city -- now. Move to a place of not more than 50,000. Buy (and pay for) a place with a front and back yard, preferably one big enough for a garden and some chickens.

2. Learn how to preserve food by canning, drying, in a root cellar, etc.

3. Learn how to plant and grow: seeds, potatoes from "eyes", etc.

4. Learn to cook over a wood-fired stove.

5. Forget vegetables, etc. that are out of season.

6. If you smoke, quit.

7. Learn to make do or do without.

8. Learn to mend clothes and things. Learn to walk instead of ride.

9. Make friends and do unto others as you would they do unto you.

10. Learn to work with your hands and re-learn the joys of reading.

Subject: RE: BS: What to do in a great depression?
From: Mickey191
Date: 10 Aug 07 - 05:08 PM

Geeze, I was feeling pretty good before. LOL

I'm afraid I need more info. If the banks were closed, When they reopened would they pay just so much on the dollar, nothing, or all.Would the dollar be devalued?

Seems I recall my parents ( in the big depression) saying they were just given a small percentage of their bank savings. Anyone recall that figure?   

What the heck does one do if they've no wood burning fireplace? Mine runs on propane.

Is this the time when lone ladies go out & buy a gun?
Seems like the home break-ins will escalate terribly if these predictions come to pass.

Anybody predicting when D Day comes again?

Subject: RE: BS: What to do in a great depression?
From: Bee
Date: 10 Aug 07 - 05:16 PM

Grow tobacco.

Subject: RE: BS: What to do in a great depression?
From: Amergin
Date: 10 Aug 07 - 05:23 PM

Invest heavily in firearms and ammunition.

Subject: RE: BS: What to do in a great depression?
From: Don Firth
Date: 10 Aug 07 - 05:30 PM

GUEST, Froth? Consarned? Yep, I thought that was you again!

You know, there are places in Michigan, northern Idaho, or eastern Oregon where you'd feel right at home.

Now, as to your advice about various kinds of firearms and your battle-tactics suggestions;   let's look at the advice of someone who's been there and done that, to compare it with how your advice holds up in the real world.

Sgt. Alvin York, Medal of Honor winner for his heroism (and an extraordinary number of enemy troops killed) in World War I, was discussing effective "sniping" with a group of fellow soldiers. Many of them were fixed on the idea of taking out the group leader first. York pointed out what was obvious to anyone who takes the time to think about it. It' like goose hunting, said York:    "If you shoot the leader, the rest will spook and scatter. Shoot the last one in line. The others may not even notice. Then shoot the next. And the next. They may not even notice what's happening behind them, and you might be able to get them all!"

So much for shooting the group leader first. You'll just have to deal with the others later, and they'll be more wary next time.

Okay, since I am among The Ancient Ones, I remember the "Great Depression." I was a little kid at the time, but I saw a helluva a lot. I was too young to understand much of it at the time, but I did understand it later.

The most valuable thing you can have during something like the Depression is not an arsenal (nobody came to round people up an put them into concentration camps, and nobody sent out the troops to kill off the surplus population, or people picketing and protesting—the soldiers wouldn't have done it anyway), or a stash of gold bullion (when what everybody wants is food and a few other necessities), although a cash stash may turn out to be handy to have. What really will save your butt, and the butts of your family, is a skill that you can sell—or barter.

Been there. Seen it in action.

Don Firth

Subject: RE: BS: What to do in a great depression?
From: Don Firth
Date: 10 Aug 07 - 05:39 PM

Well, Phooey! I posted to the wrong thread. I intended this to go to the "Crash of the U. S. Economy" thread.

Well, good advice anyway.

Don Firth

Subject: RE: BS: What to do in a great depression?
From: Janie
Date: 10 Aug 07 - 06:15 PM

Glad you came back and said that Don. I was concerned you were 'reading voices'!

Subject: RE: BS: What to do in a great depression?
From: Mickey191
Date: 10 Aug 07 - 07:51 PM

"A stash of cash may turn out to be handy"

Don, When times get desperate-people get desperate too. If the baddies are breaking into homes, torturing inhabitants, they're after money, goods and or sex. As witness to the terrible home invasion in Ct. last month. The lady of the house was taken to her bank & made to withdraw $15,000. & then killed along with her children.

The animals may be looking at those vulnerable people who just may _Appear_ to have mattress money. Civilization & morality is being tested NOW. If the circumstances alter-many will resort to dastardly deeds. Mob Rule. Probably most will be looking for $ to buy drugs - not Wheaties.

Subject: RE: BS: What to do in a great depression?
From: GUEST, Ebbie
Date: 10 Aug 07 - 07:54 PM

In Juneau, Alaska, we have very limited land space. Most people have no yard to speak of, if at all.

The Alaska natives used to have a saying: When the tide is out, the table is set.

That might still work for a population of fewer than 5,000 but not likely for 30,000. The Pacific ocean is at our front door but most of us wouldn't know how to gather or prepare the things found on the shorelines.

In Oregon I have a couple of acres out in the country. I used to say that I was going to keep the land for the day when I needed to live off my garden. Think it's time to get on the ferry?

Subject: RE: BS: What to do in a great depression?
From: GUEST,Fossil in NZ
Date: 11 Aug 07 - 12:28 AM

Hey, people! The sky isn't falling! It's a depression coming, is all. Some people will lose money. Some over-extended banks and possibly companies may go belly-up.

No-one is likely to die, or have to take to the woods. Some folks might have to sell the SUV and get a compact for a while, but that'll be it.

And the good ole USA will still have ten times the standard of living of everywhere else, rest assured your carbon footprints will still be the biggest on the planet. Take a reality check, eh?

Subject: RE: BS: What to do in a great depression?
From: Cluin
Date: 11 Aug 07 - 12:35 AM

Emulate Woody.

Subject: RE: BS: What to do in a great depression?
From: Big Al Whittle
Date: 11 Aug 07 - 09:48 AM

Are you sure there is depression coming? The USA is still seen as a desirable place to live. from what I've heard, the real estate is under valued in many parts of the country.

The political stability and the generally secure environment is the envy of most of the world. If you did something about gun control - you could improve international perception of that even further. A lot of European pensioners would consider retiring there with their pensions earned in colder climes - if you got that right.

Spain has an entire industry built on that - I'm sure most people would prefer to retire to somewhere the language was English.

Subject: RE: BS: What to do in a great depression?
From: Riginslinger
Date: 11 Aug 07 - 12:39 PM

wld - The media here is rewarded for making a crisis out of everything. Tomorrow Dick Cheney will stub his toe on his nightstand and the media will forget all about the sub-prime mortgage problem.

Subject: RE: BS: What to do in a great depression?
From: Ebbie
Date: 12 Aug 07 - 12:25 PM

Contrary to how it may come across, I'm not a worryer on this matter. If worst came to worst I am confident that we - ALL of us - are capable of surviving a bad crunch. We are not nearly as alone and uninformed as the generations of the 1930s. As my mother said, it wouldn't have been as bad if they could have known that it would end one day.

Today we have a much better grasp of the forces at work.

(I am much more concerned about who we elect into government.)

Here is an interesting bit (You have to listen to the whole thing- it starts out mildly):

YouTube: Jim Cramer Rant

Subject: RE: BS: What to do in a great depression?
From: Ebbie
Date: 12 Aug 07 - 01:29 PM

I just now listened again to Jim Cramer- and this time CNBC has a disclaimer at the end, saying that his views are not necessarily theirs.

If Cramer is right, however, then it is high time that the Federal interests were lowered, to take the pressure off the market.

Subject: RE: BS: What to do in a great depression?
From: GUEST,Chongo Chimp
Date: 12 Aug 07 - 03:35 PM

What to do? Get stinkin' drunk and raise a little hell. That's what I do when depression hits hard. It don't solve the problem, but it does seem to reshuffle the deck some and relieve a bit of the tension. The next day you can rest yer achin' head and take a whole new look at the world, specially if yer lookin' through a set of bars...which could be the case if you make the mistake of raisin' hell without keepin' at least a few of yer wits about you while you do it. You gotta raise hell in the right place, see? Not in the wrong place.

I know just how far to go, and no farther. When I raise hell, I don't do it at the Waldorf, know what I'm sayin'? I pick a bar in a really crummy spot where the cops are not that likely to bother coming, and I always know the quick way out the back just in case.

It helps if you can climb sheer walls in the dark.

Subject: RE: BS: What to do in a great depression?
From: Ebbie
Date: 12 Aug 07 - 06:33 PM

Chongo, you are an ape. And so is your mother.

Subject: RE: BS: What to do in a great depression?
From: GUEST,Chongo Chimp
Date: 12 Aug 07 - 06:39 PM

And proud of it.

My Mom, bless her heart, ain't with us no longer. She passed away back in the old country when I was pretty young. One more case of man's inhumanity to Ape, but I ain't goin' into it...

Subject: RE: BS: What to do in a great depression?
From: The Fooles Troupe
Date: 12 Aug 07 - 09:44 PM

"What to do in a great depression?"

Dig your way out of it.

Subject: RE: BS: What to do in a great depression?
From: Liz the Squeak
Date: 13 Aug 07 - 12:47 AM

What's so great about depression?

LTS

Subject: RE: BS: What to do in a great depression?
From: GUEST,sinky
Date: 13 Aug 07 - 04:49 AM

deeeeeeeeeeep depression is just an emotion,throw your troubles in the ocean,everything seems better eventually

Subject: RE: BS: What to do in a great depression?
From: GUEST,PMB
Date: 13 Aug 07 - 05:07 AM

What to do in a depression? Have a Nude Eel, that's what worked last time round. Elect a president who can't walk instead of one who can't think. Drive ancient model T's to Cannery Row, ride the rods and play the hoboe. If the depression turns into an Atlantic Depression and comes over here, we'll have to march from the Dowie Dens of Jarrow and widen the Grand Union Canal again. George Orwell could go back to working in Paris kitches.

My bet is that what they'll really do is start a round of inflation to wipe out the value of the debts, or rather transfer the debts from investors' accounts to Joe and Jenny Public's, and wipe out all those bothersome pensions that gave them the money to p*** up the wall in the first place.

Subject: RE: BS: What to do in a great depression?
From: The Fooles Troupe
Date: 13 Aug 07 - 05:50 AM

Pack up your troubles in your old kit bag,
and smile, smile, smile...
While you've a lucifer to light your fag,
You'll slowly die of lung cancer...

oooo........ oops... sorry...

Subject: RE: BS: What to do in a great depression?
From: Riginslinger
Date: 13 Aug 07 - 08:10 AM

Depression is watching George W. Bush talk in public about economics, or anything else for that matter.

Subject: RE: BS: What to do in a great depression?
From: Donuel
Date: 13 Aug 07 - 08:50 AM

True the cause makes little difference, but this is where we find ourselves in a volitile market in which the federal reserve bank and many other banks around the world have INJECTED close to $500 Billion dollars to keep banks trading which each other even though the banks do not fully know how much other banks have lost due to recent lending practices.

Pumping in liquidity (cash in the form of the federal reserve buying sub prime bonds) is a short term fix and something the federal reserve has no precedent in meddling in Wall Street woes -
Unless you consider Greenspan's bail out of hedge funds or the other Bush savings and loan scandel of the 80's when the Fed paid for the mistakes/theft of large investors.

Sub Prime, below par, previously owned, all have a slightly positive tone for something that should have been called risky junk loans.
I guess that new laws maing declaring bankruptcy and letting people keep their homes would offset loans designed to fail. Only about 7 million home loans will in fact forclose in the very near future.

Ironic that the money pumped into the system is equal to the official cost of the Iraq war but the bottom line is that there is no great depression or likely to be. Our old friend stagflation and inflation will most likely be the result of today's market mistakes.

I am not an economist although I am married to one. She says the media simply sells the scare for ratings and no dire consequences are likely. It is said that Economy is the dismal science.

good night John boy, good night grandpa, good night nurse...

Subject: RE: BS: What to do in a great depression?
From: dick greenhaus
Date: 13 Aug 07 - 09:48 PM

Join a union! In every depresion, there's a lot of money somewhere--just organize to get a piece of it.

Subject: RE: BS: What to do in a great depression?
From: Gulliver
Date: 13 Aug 07 - 10:00 PM

And when things get tough, demand free beer for all the workers...

Subject: RE: BS: What to do in a great depression?
From: frogprince
Date: 13 Aug 07 - 10:21 PM

If it's a deep enough depression, fill it with water and go skinny dipping.

Subject: RE: BS: What to do in a great depression?
From: Liz the Squeak
Date: 14 Aug 07 - 12:47 AM

I don't skinny dip... I chunky dunk.

LTS

Subject: RE: BS: What to do in a great depression?
From: M.Ted
Date: 14 Aug 07 - 12:09 PM

When you think about it, slums, ghettos, and those broken down trailer parks that you can see from the turnpike are in a constant state of depression. When times get tough, there just get bigger-

Subject: RE: BS: What to do in a great depression?
From: The Fooles Troupe
Date: 14 Aug 07 - 08:45 PM

One reliable clue I found over the last few decades as to the real state of the economy:

Watch the supermarket aisle shelf spacing/packing.

In 'good times' they are packed close together - stock holding costs are less than running out of things to sell - in 'bad times' they often take out aisles - trying to reduce stock holding costs. Even works as to the state of those 'little shops' too - less stock -> less cash to tie up in holding costs.

Subject: RE: BS: What to do in a great depression?
From: GUEST,redhorse at work
Date: 15 Aug 07 - 08:42 AM

Nice point Foolestroupe, but I suspect it's more a "cost of money " issue. When interest rates go up, cost of maintaining high stock levels goes up, so stock levels go down. I reckon you'll get as good a picture of economic health just by looking at interest rates.

nick

Subject: RE: BS: What to do in a great depression?
From: Rapparee
Date: 15 Aug 07 - 09:14 AM

If you REALLY want to learn what to do, go spend some time on an Indian Reservation. Unemployment is 60% on some of them and on most better than 50% are on Welfare (The Dole). The governments of both the US and Canada don't seem to give a tinker's damn either, as long as the Indians stay quiet and don't start making noises about "Treaty Rights" and "Where's all the money you promised to take care of gone to?"

Subject: RE: BS: What to do in a great depression?
From: GUEST
Date: 15 Aug 07 - 10:27 AM

Rapaire - Yes, I think you're right. An Indian Reservation reflects pretty well what an extended depression would be like.

Subject: RE: BS: What to do in a great depression?
From: Donuel
Date: 15 Aug 07 - 11:43 AM

Safeway shelves have eliminated about 20% of the diversity they had 7 years ago.

2006 - 2007

USA ecomnomic growth ,,, 1.9%
China ... 11.8%
Japan ... 8%

of the three markets the one to guy is Japan.

The US is bad on its face and the Chinese problems of quality control are jitting them hard (along with Walmart)

Even if you have only a thousand to invest, Japan is the way to go.



There outta be a law...
As long hedge funds are aloowed to operate in total secrecy the investment game is in risk. They need to be taxed and they need to be transparent! of course the wealthy pay for the law to make their own criminal schemes legal but we nne laws governing hedgefunds to protect world markets now.

Risk hazards should not be rewarded. Wjen a hedge fund screws with2 trillion dollars they should not be bailed out. We say we don't do that kind of thing officially but we bailed out a hedge fund back during Greenspan's term and we might be doing it again. IT is like making the poor pay off the wealthy for losing their money on a really stupid purchase.

actually it is not 'like that' it IS that.

Subject: RE: BS: What to do in a great depression?
From: Riginslinger
Date: 15 Aug 07 - 10:10 PM

Donuel - I agree with everything you say here. I can't understand that there are still small investers out here who continue to think this is a level playing field.

                         I think it first became apparent to me when they decided to underwrite all of the uninsured Savings and Loan accounts through the FDIC. Those firms should simply have been allowed to collapse.

                         The hedge funds are a much bigger problem, and you're right, the poor people will be forced to bail them out again. With this kind of mindset, the wealthy can't lose, and the poor people have to win the lottery to win. Hard work and ingenuity has little value in post Reagan America.

Subject: RE: BS: What to do in a great depression?
From: Rapparee
Date: 15 Aug 07 - 10:15 PM

That's the truth! Ronnie did us no favors and the Bushes have beaten the US down to where it is 42nd in the world in life expectancy, slipped to third in innovation and technology, and is held together by loans from other countries.

An accounting will come. It always does.

Subject: RE: BS: What to do in a great depression?
From: The Fooles Troupe
Date: 15 Aug 07 - 10:37 PM

You are experiencing the 'Fall of The Second Roman Empire' ... enjoy it...

Subject: RE: BS: What to do in a great depression?
From: Rapparee
Date: 15 Aug 07 - 11:53 PM

It would be far more enjoyable if there were orgies....

Subject: RE: BS: What to do in a great depression?
From: Liz the Squeak
Date: 16 Aug 07 - 02:22 AM

Evidence would suggest that there were far fewer orgies in Ancient Rome than is commonly thought... Even they got depressed sometimes.

LTS

Subject: RE: BS: What to do in a great depression?
From: The Fooles Troupe
Date: 16 Aug 07 - 08:25 AM

Aw... Geeee...



Aw... Geeee...




Aw... Geeee...



Aw... Geeee...


Aw... Geeee...

Aw... Geeee...

Aw... Geeee...

Aw... Geeee...
Aw... Geeee...
Aw... Geeee...

Subject: RE: BS: What to do in a great depression?
From: Liz the Squeak
Date: 16 Aug 07 - 08:56 AM

Sorry Fooles... another illusion shattered.

LTS

Subject: RE: BS: What to do in a great depression?
From: Donuel
Date: 16 Aug 07 - 09:14 AM

one model for success is "What would billionaire Warren Buffet do."
He invested in the Bank of America.
go figure.

IS IT MY IMAGINATION or was the saving and loan scandal/bailout, the BC&C (the cia bank of crooks and criminals), the crash of March 06 and August 07 sub prime crash and Hedge Fund Bust ALL OCCUR while a Bush was in charge?

This family and good ol oily Wall Street boys go hand in hand in robbing the treasury of the US time and again. When they can't steal a surplus they steal borrowed (deficit spending) money and start a war with great military industry profits and other unbid contracts.
AND WHEN THAT IS NOT ENOUGH...
During this war they fired the accountants and flew 20 tons of cash into Iraq that was divied up without any records. And while I'm ranting where is all the money they took from Saddam and his Swiss accounts? Where is the missing trillion dollars in the Pentagon?

Another Bush plan to rob another pile was to hand the entire Social Security fund over to Wall Street to be invested in financial schemes like bogus sub prime lending.
Just think they could have run off with the whole social security reserve during this sub prime crash if it had been invested in financials and stocks!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Oh well, they can't streal it all, until it is all gone.


The jewel in the Bush investment portfolio is the Carlye Group that is known as a STRIP and FLIP hostile takeover corporation. The other thing they do is own corporations of war they make weapons and sell "security".




PS
I do not suggest that the Japan market is the best buy right now, only that the trend toward quality will make the Japan market a good bet AFTER the dust settles.

I predicted a 15% bottom in the US market. We are a bit over a 10% drop. The real bottom could exceed my guess. This financial stuff has been a hobby since I worked breifly for Bear Sterns in the 80's during their first scandal and crash. They actually had classes in how to steal money from their clients. They were not shy about their crimes then and I bet this has not changed.

Subject: RE: BS: What to do in a great depression?
From: Rapparee
Date: 16 Aug 07 - 09:24 AM

Don't forget Prudential Investments.

A burst economic bubble will not destroy civilization as we know it. It will make life harder, true. Perhaps it will serve as a wakeup call that the United States was originally founded to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity.

But there won't be (many) riots in the streets or cities aflame from top to bottom any more than there were durin the Great Depression or when the South Sea Bubble burst or during the various Panics of the 19th Century.

Banks will fail, people will lose their homes and savings, there will be some suicides...in short, the economic order will be changed, but only somewhat. And I doubt that there will be any true accountability.

And yes, Donuel, I agree with your 15% and I'd go as high as 20%.

Subject: RE: BS: What to do in a great depression?
From: Donuel
Date: 16 Aug 07 - 12:59 PM

When a market is more heavily invested in trading paper and speculation on loans and new forms of derivitives INSTEAD of actual goods, volitility will grow. Hell there is even a market that trades on a volitility index (VIC)

That Warren Bufet bought into the Bank of America might mean that he hopes that it will emerge bigger after swallowing many smaller banks that go under. Some banks that were highly leveraged on bad hedge funds have silently failed already. Probably more Euro banks will fail than American banks due to thinner capital.

I think Goldman Sachs is biting the same bullet as Bear Stearns and that E Trade is a dead man walking.

I guess I get hung up on this stuff since it is like a Cowboy movie with a few good guys surrounded by lots of black hats who a tryin to cheat the poor folks in this here Railrod town out of their homes.

Subject: RE: BS: What to do in a great depression?
From: GUEST,sinky
Date: 16 Aug 07 - 01:57 PM

have a nice ham shank

Subject: RE: BS: What to do in a great depression?
From: Donuel
Date: 16 Aug 07 - 03:08 PM

thanky shanky

Subject: RE: BS: What to do in a great depression?
From: Riginslinger
Date: 16 Aug 07 - 11:23 PM

All that means to me is, Warren Buffet ought to be paying for the orgies.