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Dow dropping- SHTF begins?


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Old 08-06-2011, 09:58 AM   #21
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Default 2 yearsish...unlessss

From what me and mine have been able to read up on after siftin through the garbage is that basically since the debt cealing was raised again, the economy won't collapse, at least not completely, for another 2 years, there will be inflation though for sure since now our credit rating went down, but the 'good' news is the US won't default on our loans like ireland/greece and others recently. But now we get to accumullate another 2 years of debt and then we will have to vote again to raise the debt ceiling or face defaulted loans. If the govmnt does increase the ceiling then we get more debt to screw ourselves with. If they dont raise the ceiling, we get defaulted loans and the economy collapses and we are in a depresseion for 5 to 20 years depending on how many more times they raise the debt ceiling. Sorry for rambling so here is the short version. We dont raise debt ceiling we default on our current debts or we DO raise debt ceiling and we hold back the inevitable disaster and also in doing so make said disaster worse then befor. so should we stop digging the hole and try and fix it or keep on digging? If that isnt enough to bake your noodles google Elenin and read sites that are newer than april 2011

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Old 08-06-2011, 10:08 AM   #22
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I know my 401k has taken a whuppin'.
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Old 08-07-2011, 03:14 AM   #23
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This economy can be a little scary for 401(k)s. Mine has gone up and down, but over the long run has gained more than it has lost. (And by long run, I have had it maybe 3-4 years.) I don't earn much, but I do want to plan for the future. I don't want to rely on the government helping me out many years from now (I doubt there will be SS left anyway.) I hope my 401(k) will still be there one day and I know it is a risk, but so are dollars that are weakening.

And if anyone needs help getting rid of any soon to be worthless dollars, I will be happy to help you out and take them off your hands now to spare you the trouble
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Old 08-07-2011, 03:28 PM   #24
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Quote:
Originally Posted by Lessdragon View Post
From what me and mine have been able to read up on after siftin through the garbage is that basically since the debt cealing was raised again, the economy won't collapse, at least not completely, for another 2 years, there will be inflation though for sure since now our credit rating went down, but the 'good' news is the US won't default on our loans like ireland/greece and others recently. But now we get to accumullate another 2 years of debt and then we will have to vote again to raise the debt ceiling or face defaulted loans. If the govmnt does increase the ceiling then we get more debt to screw ourselves with. If they dont raise the ceiling, we get defaulted loans and the economy collapses and we are in a depresseion for 5 to 20 years depending on how many more times they raise the debt ceiling. Sorry for rambling so here is the short version. We dont raise debt ceiling we default on our current debts or we DO raise debt ceiling and we hold back the inevitable disaster and also in doing so make said disaster worse then befor. so should we stop digging the hole and try and fix it or keep on digging? If that isnt enough to bake your noodles google Elenin and read sites that are newer than april 2011
No, that's not quite right. If we hadn't raised the debt ceiling, all that meant was we could no longer borrow any money to cover government spending.

Right now, the government spends about $300 billion per month. There is about $180 billion coming in from taxes which means it must borrow $120 billion every month to cover spending. Without a debt-ceiling increase, it would have meant the government would have had to cut spending by at least $120 billion per month.

But with the increase, we can borrow more money to keep spending outrageously. S&P and other ratings agencies (and anyone with a lick of common sense) knows that without significant cuts to spending, the problem is just going to get worse. Hence the ratings downgrade from AAA to AA+. China will probably throttle back lending even more than it has already which means the Federal Reserve will buy our debt some more.

All the idiots in congress did was kick the can a little farther down the road. I don't know if we can do this one more time or not. Probably not. We will see some very interesting times in the near future.
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Old 08-07-2011, 03:31 PM   #25
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Quote:
Originally Posted by shadamai View Post
This economy can be a little scary for 401(k)s. Mine has gone up and down, but over the long run has gained more than it has lost. (And by long run, I have had it maybe 3-4 years.) I don't earn much, but I do want to plan for the future. I don't want to rely on the government helping me out many years from now (I doubt there will be SS left anyway.) I hope my 401(k) will still be there one day and I know it is a risk, but so are dollars that are weakening.
Have you tracked the rate of dollar devaluation over that same course of time? I have for my 401k and while the number of dollars has increased, the value of the dollar has decreased; I've broken even or even lost a little when the market looked great.

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And if anyone needs help getting rid of any soon to be worthless dollars, I will be happy to help you out and take them off your hands now to spare you the trouble
Thanks, but I've figured out that there are some people out there who will give you money in exchange for debt (dollars).
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Old 08-07-2011, 06:05 PM   #26
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The cost of living has steadily increased. We are now looking at rising inflation that may just do the economy in. I don't believe there's a "double dip" anything. It's a deepening depression. Recession is just a polite word for saying they screwed up the economy and are unwilling to speak the truth even at this late date.
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Old 08-08-2011, 04:05 PM   #27
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Dow dropping even more. with no end in sight.
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Old 08-08-2011, 04:12 PM   #28
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Keep that 11,000 figure in mind, when the market dips below that number there will be massive sell offs; folks trying to get out before the whole thing collapses (my opinion).

Looks like things have stabilized at or around 11,180 an on an upturn, could be that major corporations are buying up their own stock at bargain basement prices.
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Old 08-08-2011, 04:39 PM   #29
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Our Gov sucks. Time for Tea Party to take control.
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Old 08-08-2011, 05:36 PM   #30
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Our Gov sucks. Time for Tea Party to take control.
People who affiliate themselves with the tea party should take control of their own lives as much as possible first. Then, work to get others on board and in good shape.

I don't see this particular monetary problem getting fixed. If you have ideas, let's hear them. (I have my own ideas, but they wouldn't be accepted by the electorate and no politician would commit political suicide by suggesting them.)
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