tag:blogger.com,1999:blog-4921988708619968880.post2320448184165636500..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, August 21 2008: It Is TimeIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-4921988708619968880.post-47948780996708127432008-08-23T21:24:00.000-04:002008-08-23T21:24:00.000-04:00To Samael:I am no expert at all, but if your payme...To Samael:<BR/><BR/>I am no expert at all, but if your payments are manageable and you aren't hurting for cash, I would make six month's of extra payments just in case things tighten even more, and hold on to the remaining cash. You never know what is going to happen with Iran, Russia, etc. It is something all the naysayers (wise people) are yelling from the rooftops: have cash on hand.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-84174681626897482942008-08-23T21:11:00.000-04:002008-08-23T21:11:00.000-04:00Illargi, I'm so glad I found you. I've never heard...Illargi, I'm so glad I found you. I've never heard you mention American Funds--does this seem like a good investment house from what you know? Also, our advisor has repositioned our assets into three groups: world growth fund, corporate fund, and treasury fund. Just wondering what you or anyone else thinks about corporate funds in general now...<BR/><BR/>Thanks for all you do.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-30190222255372257932008-08-22T13:39:00.000-04:002008-08-22T13:39:00.000-04:00My apologies, I meant to address Michael above.Ahi...My apologies, I meant to address Michael above.<BR/><BR/>AhimsaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-8096533045613509192008-08-22T13:36:00.000-04:002008-08-22T13:36:00.000-04:00Andrew, the bond between the corporations and the ...Andrew, the bond between the corporations and the government (elected plutocracy that has nothing to do with a true democracy)is too deeply rooted for individual citizens or the common people to be able to take back the government. We would never be allowed to do so. One just has to examine the Patriot Acts, Military Commission Act of 2006, executive orders, etc. to come to this conclusion.<BR/>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-27240566057011857162008-08-22T13:09:00.000-04:002008-08-22T13:09:00.000-04:00I would like to ask for advise from the participan...I would like to ask for advise from the participants here.<BR/><BR/>We have a second mortgage on our home. Call it $20,000 USD.<BR/><BR/>We also happen to have put together around $20,000 USD in cash. This came about as the result of a period of accelerated savings and was pushed over the threshold by this year's bonus.<BR/><BR/>Our plan all along has been to pay off the second mortgage with Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-54490400724575032552008-08-22T11:44:00.000-04:002008-08-22T11:44:00.000-04:00Andrew,exactly because the Government has been bou...Andrew,<BR/><BR/>exactly because the Government has been bought out by "special interest" the solution should be to take it back.<BR/><BR/>Citizens CAN own their Government, they will be hard pressed to own a company (shareholder ownership not withstanding).<BR/><BR/>But then again, what goes for "political discussion" these days in North America seems to be reduced to talking points that one canAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-89033510101577769432008-08-22T11:01:00.000-04:002008-08-22T11:01:00.000-04:00It's Friday- Bank Seizure Day, as soon as the mark...It's Friday- Bank Seizure Day, as soon as the markets close. Any predictions on who? :-) Too early for Citi, I think- but Wachovia has been kind of quiet lately-Greenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-66372118364867878402008-08-22T07:58:00.000-04:002008-08-22T07:58:00.000-04:00Just returned from a 2 week journey...noting some ...Just returned from a 2 week journey...noting some new posters....noting the trend identified by I & S continues...<BR/>The genuine apprection expressed for I & S reminds me of the tip jar.scandiahttps://www.blogger.com/profile/07924260428840006237noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-60845537969992008332008-08-22T01:15:00.000-04:002008-08-22T01:15:00.000-04:00Michael wrote: "why is there still a persista...Michael wrote: "why is there still a persistant push by people to remove the Government out of people's life's?"<BR/><BR/>Its probably down to the fact that government in the USA is entirely bought out by corporate interests, so more government intervention simply means more control by the big end of town.<BR/><BR/>FDR's New Deal was for the benefit of the people at the Andrewhttps://www.blogger.com/profile/10107468533376799315noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-35524408293943444882008-08-22T00:45:00.000-04:002008-08-22T00:45:00.000-04:00We all know that fable about the upstairs neighbor...We all know that fable about the upstairs neighbor who takes off one of his shoes, drops it on the floor, and then the downstairs neighbor waits in anticipation for "the next shoe to drop".<BR/><BR/>I feel like we are all living downstairs, except our friend upstairs has more legs than we can count and we don't know how many shoes will be falling on our heads.<BR/><BR/>Will it be consumer credit,Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-88265781844669414482008-08-21T18:53:00.000-04:002008-08-21T18:53:00.000-04:00Thank you to both ilargi and stoneleigh for the in...Thank you to both ilargi and stoneleigh for the insight you have shown us during these past few months. What do you foresee to happen as credit drys up in the next few months? You have alluded that more banks will fail and the media to begin discussing the crisis, but what else? Some are aware of people losing jobs and houses being foreclosed. But this crisis has not yet affected most people. At Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-9596303873747756172008-08-21T18:24:00.000-04:002008-08-21T18:24:00.000-04:00It seems that when this reaches a critical mass an...It seems that when this reaches a critical mass and the herds start to panic, the likely scenario will be freezing of assets, IRAs, brokerage accounts, bank accounts, limiting amounts of withdrawals, etc. Since I'm not well read about historical economic crisis and deflations, I'd welcome feedback from someone who is. For example, if FDIC has a hundred years to pay out, they will give you up Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-82024721327151156432008-08-21T18:08:00.000-04:002008-08-21T18:08:00.000-04:00“Normally moving money out of a government in exce...“Normally moving money out of a government in excess of the total taxes that year would be hard to do. However, I could use securities fraud. I could issue a lot more government securities and government agency (like mortgage agencies) securities than I recorded on the government books and sell them abroad. I would have to make sure not to publish audited financial statements as that would Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-36596912530929949492008-08-21T17:50:00.000-04:002008-08-21T17:50:00.000-04:00Yes, Michael. And many Americans complain about t...Yes, Michael. And many Americans complain about too many "entitlements" or the public sector, etc. Yet, I seldom hear people complain about the enormous military budget. More than 50% of our income taxes go to the military. The bailing out of corporations (investment and commercial banks) after they carried out their corrupt deals is totally disgusting. Our complicity is disgusting as well. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-52408091470272844432008-08-21T17:03:00.000-04:002008-08-21T17:03:00.000-04:00The one thing that gets me a bit is the whole thin...The one thing that gets me a bit is the whole thing about reduced Government spending / income tax etc.<BR/><BR/>Mish has been on the "bandwagon" to get the Government out of peoples businesses for quite a while. I find it somewhat ironic as the "New Deal" was in large parts what created the middle class in the US not to mention built a lot of the public infrastructure. Then "Friedman happened" (Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-59098870696185118672008-08-21T15:16:00.000-04:002008-08-21T15:16:00.000-04:00Thanks for your valuable reflections and all the i...Thanks for your valuable reflections and all the informative links.<BR/><BR/>Being a peace/environmental activist, a liberal arts major and someone with no investments outside of a bank acccount with my life savings and a paid for simple home, I've neglected the specifics of economic/financial collapse. Thanks for opening my eyes. I still don't understand a lot of stuff -- hedge funds, etc. but Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-9344825643291406642008-08-21T14:48:00.000-04:002008-08-21T14:48:00.000-04:00Thank you for the truth."It is time for a lot more...Thank you for the truth.<BR/><BR/>"It is time for a lot more people to realize what is going on. I'd find that a much more meaningful consolation."<BR/>Find consolation in your courage to speak/blog it and that some have heard.Anonymousnoreply@blogger.com