Bill Cosby said "there's always worse". Just how worse is anyone's guess. When an individual gets into dire straights the first thing is to cut back on recreation and niceties. Then look for extra income in the way of part time second job. With the nation however it's a different story. We've cut back our income from the first source (Tax cuts) and added spending (two wars) with borrowed money not to mention the addition of the costs of adding a new security system (Home Land Security). All done I might add under George W.Bush. And let us not forget the bank bailouts also done with borrowed money. But when a family gets into really tough times they start selling the family heirlooms just to put food on the table and a roof over their head. Unfortunately however food prices are going up and being upside down in a mortgage even when qualified is no comforting thought. Banks are now restarting the process of foreclosures so if you thought you were safe from the repo man think again. All the while gas prices are still just below $4 a gallon so even looking for or getting to work ain't cheap either. Did I mention that those mortgages that were variable (Alt-A loans) are about to hit peak around October or November? Remember I keep track of such info. America has been selling off it's assets but the beneficiaries have not been the taxpayer but again the boys on Wall Street.
Take a look around your neighbourhood and note the for sale signs especially those owned by the bank. Or note empty buildings boarded up long ago. I'm even seeing brand new buildings with for lease signs not occupied for months now.
It's said that just 400 people in this country own more than the bottom 150 million! There's a startling figure. And it's not getting any better out there. It's getting worse.
Bank fails later
10 comments:
Don't worry, eventually, we'll be forced to chow down on rich man kebob & then who'll be laughing, I ask you, who!
Um, um, um, um ... aint that the truth Demeur! And ole Randal has a point there ... heh, heh, heh, heh, heh ... just give it some time Dude ... there is a reverse effect and flip side to everything brother ... BTW, loved the photo at the heading ... be a great album/ cd cover!
Of course it's getting worse, for those that refused to see it coming and didn't prepare for it.
When an individual gets into dire straights the first thing is to cut back on recreation and niceties.
Um, I cut back on everything else and kicked up my recreation, am I doing something wrong?
Maybe I should sell one of my boats?
Setting aside the basic inequity of having so much wealth concentrated in so few hands, along with so much economic and political power, as a practical matter these drastic imbalances and the conditions behind them are creating an untenable situation, economically and politically.
In short, keep it up guys and something's going to blow. If that happens, I guarantee you'll wish you had moderated your greed and selfishness.
Seems like history is a little slow at repeating itself this time around. In the past they had a field day on the rich to bring them back in line.
Of course these days the rich are better protected, and many have been brainwashed into leaving them alone cuz hey, maybe they can get rich also, all they have to do is work hard, hahahaha
FOR SALE: 12 1/2 FOOT FIBERGLASS CANOE TYPE BOAT, VERY STABLE, GOOD BEAM, GOOD CONDITION.
$300.00
Heh, heh, heh, heh, heh ... I agree with ole BBC 110% on alot of this shit ... I been preparig for this shit a long time, and Yes ... I jacked up my recreation bigtime ... screw all this sacrificing shit heh, heh, heh, heh, heh ... that's all the Hell they all ask us to do is sacrifice, these power's in politic's and corporation's treat us like goddamn sunday scholl folk's ... fuck their rules and term's of engagement ... heh, heh, heh, heh, heh : )
Well, unless you want a fancy boat and camper and such boating and camping are still pretty affordable pleasures, at least out in this area.
My cave isn't fancy but I don't give a shit, my clothes aren't fancy, but I don't give a shit, my truck isn't fancy, but I don't give a shit. In fact I like my old truck.
Only thing I'm fixing up is my old boat, and I'm not spending that much money doing it.
If everyone else was like me every fucking bank on this planet would fail.
Nice article, thanks for the information.
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