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What To Do NOW For Everyday Americans?

Discussion in 'Political Discussion' started by maverick4, Sep 17, 2008.

  1. maverick4

    maverick4 Banned

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    The unfortunate predictions of the past 3 years in housing and financial sectors are starting to happen, and we are probably only halfway through a complete sh*tstorm that is going to put this country into a Super Depression similar to early 1930's Germany or Argentina from a few decades ago.

    I don't care to debate moron sheeple who continue to deny the long term ill health of America's economy, in this thread.

    For the sane people here, what are you doing with your money and assets? What can all of us do to protect our wealth, what specific moves are smart people doing?

    It's time to share how we can protect ourselves, use the internet to share information on what each of us can do at this point.
     
  2. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    I think Shmessy is a financial advisor. "If" you're right, I would think gold is the only answer.

    I'm not sure how bad it's going to get. I don't think it's that predictable since we're in unchartered territory. but being prepared isn't a bad idea.
     
    Last edited: Sep 17, 2008
  3. Run DMC

    Run DMC In the Starting Line-Up

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    #24 Jersey

    At least 10% of your net worth in tangible(not paper, ie, GLD etf) in precious metals stored somewhere safe, not a bank! Guns, ammo, food supplies, etc.
    Here is a site that hopefully none of us will have to study:
    Surviving in Argentina
     
    Last edited: Sep 17, 2008
  4. weswelker#83

    weswelker#83 In the Starting Line-Up

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    Best place to park cash:

    VMPXX (Vanguard Treasury Money Market fund)


    or

    If you have a mortgage balance AND you plan on staying put AND you bought before the housing bubble, I would advise putting some of the cash toward your mortgage balance (if pre-payment is an option).
     
  5. mcgraw_wv

    mcgraw_wv In the Starting Line-Up

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    My Personal strategy right now is to use Social Lending site like Prosper.com ( ask m e for a referral ) and lend other people small amounts of money. I have more faith in individuals than I do in system banks, or instituions, and there is no reason why I can't be the one who collects all the compounded interest.

    So far I have lent out 3000.00 in over 45 different loans with an average return of 15%. I have been lending for 6 months now, and I have only gotten one late payment.

    You can see my public stats here - LendingStats - Lender Profile: MadLender

    I believe in people, and Americans, and I am 100% willing to lend someone 50.00 over 3 years with interest if their financials add up.

    I set up a solid filtering system with their portfolio plans which filters most of the crap loans, which I can share with anyone, and I feel it is a solid strategy and I put 50.00 a week into it to be lent out. All I have to do is fund it, and everything else is automatic...

    If anyone else is interested, we both get 25.00 for referring someone.
     
  6. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    "If" this country ever got to a similar point as Argentina, I don't think our soldiers and the police would back the government for long if our people demanded change. I pray we are structured so that something like that could never happen, but if it does, I have faith in our people.

    Would we start a revolution? Absolutely! But the difference is no one would stop us or even try. What would our government try to defend? After all, we are a government by the people and our people would want to preserve democracy.
     
  7. ljuneau

    ljuneau Rotational Player and Threatening Starter's Job

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    I once thought Peter Schiff was a bit wacko, but now I see he was correct in predicting the real estate bubble, the sub-prime disaster, and the collapse of major financial institutions. Next domino - hyper-inflation and the collapse of the dollar:

    Here is his latest article.

    Looks like gold and foreign equities is the way to go.
     
  8. mcgraw_wv

    mcgraw_wv In the Starting Line-Up

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    No way....

    We lack the strength to do anything real... the American public is lazy and unmotivated. I love how the politicians for the sake of their careers say they have so much faith in our people, but I do not.

    We can't get a fence built that we all want...

    We can't come up with a real healthcare solution...

    Hell here in Florida we can't even really conserve water, becuase everyone wants their lawn watered, simply everyone else should reduce their use...

    It's even hard to find people who want to discuss politics in my everyday life, which is why I come here.

    People do not care, and will accept anything they are told too... Some individuals will be upset, but they will simply be labeled as conspiracy theorists or kooks ( Ron Paul Movement )


    IF a vote was pased to waive the 2 term limit on a president and due to the on going war on terror to keep the current president and wave elections, we would be upset for a few days, and ho hum back to the rat race...
     
  9. weswelker#83

    weswelker#83 In the Starting Line-Up

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    DUH!!

    Laffer was the one who convinced Reagan that you could lower tax rates and raise spending and everything would be fine.


    Remember this thread bud ?
    http://www.patsfans.com/new-england...arly-warning-us-economic-bust.html#post831028
    http://www.youtube.com/watch?v=LfascZSTU4o

    wake up sheeple.
     
    Last edited: Sep 17, 2008
  10. weswelker#83

    weswelker#83 In the Starting Line-Up

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  11. Real World

    Real World Moderator Staff Member

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    [​IMG]
     
  12. Real World

    Real World Moderator Staff Member

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    To answer the question in the thread title, nothing. There is nothing that needs to be done NOW for everyday americans. The government needs to tax less, and spend less, if it wants to correct 60 years of mismanagement. The current bailouts of the financial sector are being done to ensure that the assets of the public do not disintigrate. Whether we like the bailouts or not, the short term, and long term solvency of all things finance require that this tactic is undertaken. The next critical long term move is to drastically alter the way the government operates, which is to say, it needs to downsize. Regulatory corrections could help solidify the financial sector. As much as I despise regulation, clearly, if the fed is going to bailout companies, then the fed needs to ensure that those companies are responsible with that money. Lending practices need an overhaul since they're being protected with our cash. Minimum down payments to borrow would be a good start. A strictly enforced, standardized credit chart would be nice too.
     
  13. Run DMC

    Run DMC In the Starting Line-Up

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    #24 Jersey

    Thank you, Pollyanna. See you in the poorhouse.
     
  14. mcgraw_wv

    mcgraw_wv In the Starting Line-Up

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    Good catch...

    The meaning is, I believe in Individuals, not people as in a whole...

    I think ( some ) individuals are smart, motivated, ect... our people as a whole, are not.

    The herd mentality in this country really reduces the overall brightness... You can see it on CNN and Fox news on a daily basis... Individually these people say and do smart things, when they are lumped into a group ( political party ) they start sayign assine things on TV just to prop up a certain view point, even though common sense can clearly see it's a dumb point.
     
  15. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey


    The bailouts may be coming to an end. As you have stated previously, they should be!

    "Washington, DC– Rep. Scott Garrett (R-NJ05) will introduce legislation to establish a Select Committee on Bailouts on Wednesday, September 17, 2008. This committee will be charged with investigating the actions taken by the Federal Reserve and Department of The Treasury with regard to Bear Stearns, Fannie Mae, Freddie Mac and AIG. Additionally, this committee will make recommendations to prevent future bailouts and examine the role of political activities and influence in exacerbating the current market situation.

    This bipartisan committee will be comprised of a total of 10 members, five appointed by the Speaker of the House of Representatives, and five appointed by the Minority Leader of the House.

    Over the course of this year, the Federal Reserve and the Department of The Treasury have acted multiple times behind closed doors to intervene in the private marketplace. The American people have a right to know how their tax dollars are being allocated for these bailouts.

    We were assured that the government intervention on behalf of Bear Stearns was necessary in order to avoid a complete financial collapse,” said Garrett. “Rather than stem the tide, the government bailout of Bear Stearns opened the flood gates. This storm was further worsened when Treasury Secretary Henry Paulson used his newly acquired authority to facilitate a government takeover of Fannie and Freddie. The Federal Reserve’s actions last evening to intercede on behalf of a private insurer – not a bank – extends the extraordinary and unprecedented interference by our nation’s financial regulators. I fear that in the future, Wall Street CEOs will first look to the American taxpayer to solve their problems, rather than to the private marketplace.”
     
  16. Real World

    Real World Moderator Staff Member

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    To go back to the thread title, and question, these bailouts are being done to help the everyday american "NOW". While I dislike any handout, bailout, or federal loan, not taking action would have resulted in the disintigration of citizen assets on a massive scale. On top of that, the failures would have caused a chain reaction where major companies, small business', credit unions, construction, etc would have followed suit (crashed). Consider the job losses, the loss of capital, and the evaporation of innocent assets that would take place. The gubmit is not going to let that happen, if it has a means not to. Like the rise of oil affects more than just the cost of gas at the pump, the failure of the financial sector would have ramifications that some in here probably don't understand. Is it perfume on a pig, or a bandaide on a gunshot wound? Long term the answer is likely that it is. Unless the gubmit gets it's spending under control, then the massive debt, globally mind you, and not just in this country, will eventually come to a boiling point. What helps the fed here, is that this is a problem across the G8, and is not restricted solely to the US. So printing money at this point, does less devaluation as other foreign currencies don't stand to gain against the dollar. Still though, long term problems need to be solved, and as I like to say, difficult decisions have to be made. I don't think either candidate is smart enough, or willing to make them.
     
  17. maverick4

    maverick4 Banned

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    I'm not talking about the government or what it should do, it is beyond hopeless at this point and on its last legs.

    I am asking what can Americans do for themselves instead of sit around waiting for the roof to fall down on all of us.
     
  18. Run DMC

    Run DMC In the Starting Line-Up

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    #24 Jersey

    How do you know all of these things as a fact? Perhaps the beloved "market" would have sorted it out. It looks like things are going to hell anyway. There isn't enough money on earth to cover these derivative losses. We're talking trillions of dollars of losses. The system is broken. Do you think the people in Argentina ( a net debtor nation like us) ever thought their country would go down the drain like it has? I wonder how many "Real World's" in Argentina believed their government would save the day?
     
  19. Real World

    Real World Moderator Staff Member

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    Der, if your roof is going to collapse, then call a roofer. If you're suffering from Super Depression, then call your doctor and get some prozac.
     
  20. Run DMC

    Run DMC In the Starting Line-Up

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    #24 Jersey

    Very enlightening.
     

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