Thank U politicians for destroying our financial system...

[USIC1]

Say ADIOS to your 401k plan returns...

Yours and my asses are mud tommorrow...

And by the way the oversite, the ones your going to go push a button to vote for you ll be wishing you could pull a lever of a trap door to send these useless pieces of crap to hell!!!!

Because they let this economic disaster get so out of hand we are really going to get f&#^@d now...

Just watch and see what the market does tommorrow...




:toasted:

[ifinditunderground]

USIC.......as I have always said before.....you are an ass. Please find somewhere else to spew your constant negativity.

[jjdynomite]

USIC.......as I have always said before.....you are an ass. Please find somewhere else to spew your constant negativity.

Like it or hate, get used to it! This country is headed to hell in a hand basket.

[AULupstate]

I would just like to know what in the hell he is talking about????????????? Pretty Vague Statement with no background on it.

[Dave72]

I think something about your 401k plans.. we dont have them up here.. but Its money afaik.

But that did get me thinkin.. we are indeed all goin to helina handbasket. Be the little steps fast or slow, and who's fault is it, sorta depends on who you're talkin/listening to (any reasonably open-minded person knows that if you took 5 good thinkers .. you're gonna hear 5 different and possible stories).

Sufficient to say, i think, we're all probably gonna have to make do with less.

Whatever is happening, our money is getting thinner.. we're gonna have to make do with less.. for the 'normal' people.. if yer lucky enough to get on the high-side of the ride.. then all the better.. our home here is sitting not bad for now, but its getting worse by the year (100k/yr , bank owns us, 2 young kids).. i think "these" will be the best years financially for us.. all downhill from here.

Lucky for me, someone created booze.

<hugs>..

(lol)

[USIC1]

I would just like to know what in the hell he is talking about????????????? Pretty Vague Statement with no background on it.


Im talking about investments...A 401k is an instrument of investing and for the most part it is a diversified tool used to increase wealth through money managers putting portions of your dollars across a spectrum of stocks,bonds and cash...

I thought it was easier to decipher the point thats all...

[AULupstate]

So again, what are you talking about?
Why should we say good by to 401k plans?
What economic disaster?
Who is the 'evil' master minds we shouldn't vote for?

Your post makes NO sense.

[USIC1]

Say ADIOS to your 401k plan returns...




First I said 401k RETURNS!!!!

2nd read some frikin business news and you will have a clue!!!!

3rd Wheres this quote??? "evil masterminds"

[RoadMap]

I have a IRA that is invested in a mutual fund that had investments in Freddie and Fannie. That are now useless. Unless there is enough left over to give to common stock holders. But I am sure the bond holders will get whatever is left. They get it first then Preffered stock holders then common. Usually when this happens Common stock holders get nothing!

Of course now the government is in the realestate business now. But It will be interesting if any Indictments get handed down. Just research who was on the Board of Directors of these 2 companies. It might surprise you. Lots of x senators from both sides and staffers from both parties. Clinton and Bush whitehouse staffers. They ran these companies into the ground and drew huge salaries while doing it. The goverment should have stepped in along time ago. When Clinton was in office he had the fed relax lending requirements so everyone could live the dream of owning a house.

Then came Bush. He changed the bancruptcy laws to make it harder to erase your debt. But did not change lending requirements. KInd of a bad move.Of course I do not know how you go about changing the lending requirements. Because the fed is not controlled by the Whitehouse. And the Fed chairman has to be removed by congress! What a deal!!!

[AULupstate]

Still not answering they questions USIC, big surprise.
My 401k is just fine and growing more everyday. I invested in petroleum and alternative fuel research in 2004. Guess which one is paying out more on my Investment? Either way it is win win for the long run.

[sprayandpray]

I realize all the negative news looks bad but remember 1 thing - the $$$ do not just disappear! Investing, whether , on your own or through 401's is just a lazy, more acceptable way of gambling - only you are letting someone else decide when to raise , call or fold. Someone loses - someone wins and the Fed prints more $$$ so the smart/lucky ones can stockpile more in their accounts.

[ifinditunderground]

I would just like to know what in the hell he is talking about????????????? Pretty Vague Statement with no background on it.

That's USIC, always talking nonsense right out of his rectum.

[jjdynomite]

In a sence he's right, With the recent mass banking system failures and crashes. Its hard enough for anybody to get a home loan. The housing market is in the dumps. Banks are crashing left and right. Foreclosures are at an all time high. Interest rates can only drop so much more. Healthcare cost are out of the roof. Inflation is insane these days. The cost of living is far to great for some families to keep their retirement funds.

Ive got friends and family in some of the worlds biggest banking systems and they've been saying it for a while now. "There will be worse times to come in the very near future. If you have it hold on to it, cause we havent even began to see the worst of things."

I thought they were all foolish at first just talking out of they're rear, but theyve been right to the point on every issue. Even which banks would fail first.

Our economic structure works like this:
We all need money to survive right? So where does it come from? The Federal Reserve Bank(FRB)

FRB lends money to the banks, But where does these trillions and trillions of dollars come from? Surely not from our gold reserve since we no longer use the gold standard.

Banks lend money to businesses and for home/personal loans and such with interest. Businesses need this money for raw materials, fuel, labor, general supplies and for billing. Homeowners need this money for new homes, renovations etc. Both businesses and the general public are charged interest so they can make money and repay the loans from the FRB.

As a general public we only make xx amount per paycheck to pay our loans, and these businesses for their good and services.

so where does inflation come from?
The more money created by the FRB thats put into circulation, the less that each dollar is actually worth. We no longer have a reserve that backs the value of these dollars that are created, well printed. The less that dollar in your hand is worth, the more you eventually have to pay for goods, services, loans etc. Inflation is a hidden tax to recoup on the mass amounts of money created.

So when the general public cannot make their loan payments and business go bankrupt from the same reason, not being able to pay their bills and loans, this causes the foreclosures and businesses goin under. Banks have to buy these back from the people/business and still repay their own loans to the fed.

Other banks have to buy the crashed bank and take upon their financial responsibilities, along with their own causing the banking system to be in a financial bind to where the banking system is weak and frail.

While these banks are failing, the dollar value is falling due to the mass amounts of cashflow created by the FRB. When the $$ value is low, goods and services rates increase to recoup on the higher material costs, fuel, transportation/shipping. This increases the living cost, and while companies are paying more for the materials needed to make and sell their products they cannot afford higher payroll to compensate its workers for the higher rates needed to survive.

We make the same per check, but have to spend more to survive... Well lower income families cant afford to survive, they lose their homes. Small businesses fail. Sooner or later major business cannot afford the costs of running the business, so they collapse causing the bank strain on lending. And you have just reached the point at which we live today. Banks lend money to people that cannot afford the loans, bussinesses fail for the same reason. we pay twice the price to survive. Cut corners to make ends meet.

If I had more time I could explain this further into detail.

[ifinditunderground]

JJ, that was an excellent explanation...nice job.

[ifinditunderground]

FYI, I just checked the stock market, and it is down, but nothing more than what it has been over the last few months. Good news....oil is down to $94 dollars a barrel....gas prices going down again? I bet they do, it will just take a couple of weeks to calm the "Media Frenzy" that started the mad rush to the gas pumps this weekend.

[AULupstate]

Gas was $4.10 (average) a gallong on July 4th (at the height of this retarded shit $147 a barrel). It's $94 a barrel NOW yet my local gas prices are at $3.75 a gallon? That's a $53 drop yet we are seeing only $.53 difference from its PEAK PRICE!!!!!!!!!

BULLSHIT!!!!!! ASSHOLES!!!!!! BASTARDS!!!!!!!!!!!!!!!!!!!!!!

Those prices jumped over night even if a mouse farted near a pipeline in east bumble f*ck africa. Yet not dropping overnight with HARD REAL FACTUAL DATA.

[USIC1]

FYI, I just checked the stock market, and it is down, but nothing more than what it has been over the last few months. Good news....oil is down to $94 dollars a barrel....gas prices going down again? I bet they do, it will just take a couple of weeks to calm the "Media Frenzy" that started the mad rush to the gas pumps this weekend.


Spoke a little soon eeehhh skippy???

Now where were we over who knows what???


Excuse me !!! Could you say that a little more clearly-

"I should nt have questioned such authority and knowledge..."


:rolleyes:

[jjdynomite]

Gas was $4.10 (average) a gallong on July 4th (at the height of this retarded shit $147 a barrel). It's $94 a barrel NOW yet my local gas prices are at $3.75 a gallon? That's a $53 drop yet we are seeing only $.53 difference from its PEAK PRICE!!!!!!!!!

BULLSHIT!!!!!! ASSHOLES!!!!!! BASTARDS!!!!!!!!!!!!!!!!!!!!!!

Those prices jumped over night even if a mouse farted near a pipeline in east bumble f*ck africa. Yet not dropping overnight with HARD REAL FACTUAL DATA.

Just my $.02, but fuel is a consumer driven product. Without it this country would not survive. Regardless of how much you/we complain about the price of it, we cant live/work without it.

http://www.howstuffworks.com/gas-price.htm
http://auto.howstuffworks.com/gas-price1.htm
http://www.bloomberg.com/energy/

[AULupstate]

No you are totally correct it IS a consumer driven product. Problem is EVERY media outlet with a heartbeat and a keyboard says that OUR conumption is DOWN, less people on the road, less people driving, less people using gas.
Ergo, petroleum prices down, gas consumption down, production at same level = price stays the same? I know it's been a long time since I went to an economic class but I'm pretty sure the facts of economics haven't changed.

[ifinditunderground]

Spoke a little soon eeehhh skippy???

Now where were we over who knows what???


Excuse me !!! Could you say that a little more clearly-

"I should nt have questioned such authority and knowledge..."


:rolleyes:

Do what? What are saying? Speak English please. Are you ill? Are you having a stroke? Should I call you an amubulance?

FYI: I just checked with Fidelity, my 401K still exists.....

:ecomcity::ecomcity::ecomcity::ecomcity::ecomcity: :ecomcity::ecomcity::ecomcity::ecomcity::ecomcity: :ecomcity::ecomcity::ecomcity::ecomcity::ecomcity:

Did you find your 401K doomsday message written in the stall in a truck stop?

[ifinditunderground]

For the rest of you who have half a brain and would like to read a good article which clearly explains what may happen over the next few months, check it out.

http://www.bloggingstocks.com/2008/09/15/what-the-financial-meltdown-means-to-you-if-youre-not-in-fin/

[jjdynomite]

No you are totally correct it IS a consumer driven product. Problem is EVERY media outlet with a heartbeat and a keyboard says that OUR conumption is DOWN, less people on the road, less people driving, less people using gas.
Ergo, petroleum prices down, gas consumption down, production at same level = price stays the same? I know it's been a long time since I went to an economic class but I'm pretty sure the facts of economics haven't changed.


Your right, consumption is down and less cars are on the road, but thats only gas, and deisel sales. What about the other petroluem based products? And to be honest... not that many people have cut back on driving. I drive a gas hog that gets 8mpg in the city, 19-21 on the hwy and I drive the same amount.

[USIC1]

And then the somber story of the chance history repeats itself-


http://www.youtube.com/watch?v=S4aPi0ZgN0E



:(

[jjdynomite]

Oh BTW, the "politicians" didnt put us in the situation were now in.... we the people did.

[ifinditunderground]

:bonk:And then the somber story of the chance history repeats itself-


http://www.youtube.com/watch?v=S4aPi0ZgN0E



:(

Holy Sh!t, you must have fallen out of your truck and smashed your head on the ground. Now you are predicting a second Great Depression? You have gone retarded. Wingfoot can be pretty extreme in his views....but not even he would cut and paste anything that ridiculous. :rotflol:

[USIC1]

:bonk:

Holy Sh!t, you must have fallen out of your truck and smashed your head on the ground. Now you are predicting a second Great Depression? You have gone retarded. Wingfoot can be pretty extreme in his views....but not even he would cut and paste anything that ridiculous. :rotflol:


Now dont spout off before the fat lady sings...

Watch what happens tommorrow due to AIG (just the 18th largest company in the world) on the verge of going belly up...

Down 50% in after hours-

http://finance.yahoo.com/q?s=AIG

The fed pumped 70 billion thats with a B into the markets today to stabilize things...

Keep on thinking the ship cant go down and a depression cant hit...

[ifinditunderground]

:blahblah::blahblah::blahblah::blahblah::ecomcity: :ecomcity::ecomcity::ecomcity: Keep talking.....we'll see where the country is in 6 months. I'm betting we'll be doing just fine.

[ifinditunderground]

FYI UDIC1, just checked the market report, everything closed UP today, those stocks better start dropping soon if we are going to see that 2nd Great Depression......your thoughts?

[USIC1]

FYI UDIC1, just checked the market report, everything closed UP today, those stocks better start dropping soon if we are going to see that 2nd Great Depression......your thoughts?

couldntfinditaboveground-

You only skirted this one because the fed is gonna bailout AIG(news that came out after my post)...

Wait til Ford and Gm go bust...Thats next on the list..

:yikes:

[AULupstate]

Too late buddy, they are (well, have been) waiting in line to suck on the tit of the Fed for bail out money.
Maybe if the Big 3 didn't put such ridiculous prices on their sh*t product they wouldn't need a bail out.
Wait a minute. Has anyone seen the $14,000 'rebate' off full size Ram pickups?
If they can 'discount' that much, how much do think ALL vehicles are overpriced so the consumer can suck on it while the big boys can cry 'poverty'? Boo Hoo, Boo Hoo. Tell it to your Mexican employees building them!

[jjdynomite]

Their built in canada, well atleast GM is. I dont know bout you, but ive never seen a sombraro north of our border.

[RoadMap]

I think the point is. I f they can discount a vehicle that much, then it was overpriced to begin with. That is why I drive a BMW. Bought it when it was 3 yrs old. 5k under blue book. But then my friend is a dealer! When American cars become more competitively priced I will think about buying one. Then I willpay cash!

[jjdynomite]

lol, sadly BMW is more domestic than most domestic cars on the roads. I wish I had the cash to buy a new car out right.

[AULupstate]

That is exactly my point Roadmap, thank you. As for JJ, granted the plants in Canada do still make some makes and models, but you have to look at the vin number when you are shopping to find them and maybe the little maple leaf inside the door.

Greed and stupidity put us in this finacial quaqmire.
I would like to see how many home loans were approved with the 'nothing' down floating subprime rate. I would like to see how many applicants really had an income that could sustain monthly payments of $1500 to $2000 a month.
If you apply for a home loan (when the home in question costs $175,000) and put 'nothing' down, there is no way in hell you would be able to afford the payments. If you could you would have put SOME type of down payment on it.
Case in point, I was watching TV last night and it was something like Dateline (not sure though). They were interviewing a couple in Las Vegas who had one of these type loans on a house with a ridiculous price tag. She work in the Kitchen of one of the casino's and her husband worked construction building houses in Vegas. He got laid off (big surprise) because of the market, she still had her job (kitchen work, go figure why she couldn't make the payment). I ask HOW did these people EVER get approved for the loan? WHO thought that was a good decision? WHY would anyone who couldn't put a cent down think they would EVER be able to afford a house?

Hence Greed, on everyones part, Builders of the house, Lenders of the loans, Persons wanting the house they can't afford. Stupidity, on the person part for not being smart enough to know their own financial limitations and over extending themselves from the gate.

As someone posted earlier, it isn't just the Governments fault, it's OUR fault also. WE let them run amuck with NO intervention on OUR part, WE let them spend billions and billions with NO accountability to the people paying the bill, US. OUR complacency when it comes to OUR government and OUR being so wrapped up in OUR individual lives, WE let it happen. A ten minute letter to OUR congressional representatives explaining what WE don't like, what WE'RE not going to pay for any longer, what WE want answers for, and what WE will do about it if WE don't get what WE want. Voting the next clown in to see if he ruins the circus too. Impeach and fire those who don't have OUR best interest at the front of every thought and action they do. Accountability with 'WE the PEOPLE' oversight. WE elect these idiots and let them run wild and when they run us into the ground all we do is bitch about it to each other. WE have to focus our anger towards the right people. Get involved with YOUR state congressmen, that is YOUR link to Washington.

[jjdynomite]

As for JJ, granted the plants in Canada do still make some makes and models, but you have to look at the vin number when you are shopping to find them and maybe the little maple leaf inside the door.


VIN numbers, RPO codes and also the net. With a lil time involved, ya can figure out where every part on a car came from, manf dates and which plant manf'd it. :p

[USIC1]

Is school in session yet???

Do I need to take roll call???

:rules: :ecomcity::ecomcity::ecomcity::ecomcity:

:p

:waving:

[USIC1]

I want all my students to write 500 times -

I must take heed of the teachers claims and not show ignorance on things I am clueless about...I m sorry for always thinking the teacher is talking trashwhen it is merely part of the lesson....


:p

[ifinditunderground]

<Yawn> School sucks, I think I'll take a nap here on my desk.

[Mr Blunderbuss]

http://www.ibdeditorials.com/images/editimg/general01091908.gif


Gee, no surprise there; mostly Democrats.

BTW, Bush, McCain and the Republicans wanted to do something about this but were stonewalled by the Dems (http://www.ibdeditorials.com/IBDArticles.aspx?id=306632135350949).

[yahoo]

who does the majority of these loans go to anyway????

[RoadMap]

Most of what is happening now started in 1978 under the Carter Administration. He pushed for the changes for home loans and other borrowing practices. However the changes were not put into law until 1993 under Clinton. His campaign was about a dream that everyone should be entitled to own a home, car, and go to college. We as Americans took it one step further. Most liberals think that since you were born in the United States that you are entitled to buy a home ( a really BIG one), buy an expensive car, and go to college. These are not entitlements by birthplace. These are things you earn for yourself. You must have the necessary income and credit worthiness to purchase these items. Buying a 300,000 dollar home making 55,000 dollars a year is a stupid loan. But under current guidelines setup in the 90's this was made possible!

AND LOOK WHERE WE ARE NOW!

But congress is getting it wrong again as we speak. The 700 billion dollar bill is getting more pork barrel spending projects attached to it while going through the Senate. So 700 billion will more than likely be around 900 billion before it is done.

[AULupstate]

I'm with you there roadmap. I would like to see the income (actual figures) of these people who are all in forclosure, then I would like to see the total amount borrowed for their mortgages. I'm pretty sure I would like to slap the bank rep after looking at them both.

I must be a broken human being, I don't feel compasion at ALL for people being foreclosed on. I was brought up that if CAN'T AFFORD IT YOU DON'T BUY IT. It should NOT have been a BIG shock to these people when they stopped making payments that the banks would want their sh*t back.

[yahoo]

would you say that this is mainly one class of people......i wonder who the majority are that are in foreclosure......???????? seems to me that everyone down this way can afford a 200 000 dollar home???? and everyone drives a new car....except for me ..mine is 11 years old.....

[underground quester]

would you say that this is mainly one class of people......i wonder who the majority are that are in foreclosure......???????? seems to me that everyone down this way can afford a 200 000 dollar home???? and everyone drives a new car....except for me ..mine is 11 years old.....

Hey yahoo, did you not once say on this forum that you had a sugar mama AND working in locating making the BIG bucks...you drive an eleven year old car? Whats that all about? Can't take it with ya dude!!!!

(Just messin with ya).

[AULupstate]

I wouldn't say it any 'class' of people. I think it's people who over extended and 'thought' they could afford more than they actually could. Everyone would like to own a home but you have to be smart about it. No money down loans? Come on, nobody should be that stupid!.
It is simple. If you don't MAKE $200,000 a year then you can't AFFORD a $200,000 house. The math is there and it's PAINFULLY easy to understand. Problem is people want more and more and more.

[yahoo]

i have to keep my sugar mama in check>>>>>>> hahahhahhah as aul said....i bought a house that i could actually afford.....and.................a car!!!! ha!!! hey uq ...your memory is awesome!!!!

[RoadMap]

If you make 200k you should buy a 200k house. What kind of math is that. If you make under 75k you should not buy a house over 175000!

[AULupstate]

That is the point of my math, don't spend more than you make and your finances will be ok. If you make 35 to 40,000 a year the word your looking for is RENT not OWN (unless you live in a part of the country where houses ae still priced like they are SUPPOSED TO BE).

[Mr Blunderbuss]

Compelling video:

http://www.youtube.com/watch?v=H5tZc8oH--o

[ifinditunderground]

Thanks for posting that Mr. B.......USIC make sure you click that link and study the facts real closely....

[ifinditunderground]

Oh, and God Bless the Republicans, it's too bad the Democrats shot down their attempts to put a stop to this mess years ago.

[sprayandpray]

I just thought of something -Did these financial institutions realize this mess was going to happen a few years ago? Maybe that would explain why they got Congress to pass the new Bankruptcy Laws and Pres Bush signed off on them. This might be a little paranoia on my part but maybe the SIC 1 has some inside info on this?

[USIC1]

I just thought of something -Did these financial institutions realize this mess was going to happen a few years ago? Maybe that would explain why they got Congress to pass the new Bankruptcy Laws and Pres Bush signed off on them. This might be a little paranoia on my part but maybe the SIC 1 has some inside info on this?


I dont know...

Its just frikin pathetic I have lost 12000 since the start of the year in my retirment accts...

And what??? Now pay for a bailout in some form???


I read a couple days ago about how some federal banking regulatory outfit was dissolved since they had nt managed the oversight of auditing these institutions properly...Its so frikin corrupt they knew what the hell was going on but chose to look the other way...

We were nt born yesterday there was money involved under the table its BS ...

I joke about it but I have been fried so what else can you do as money flies out the window relying on the faith of our government...

Alright its almost IFL time...UFC I dont care LOVE IT!!!

[USIC1]

Things arent so bad that they would eliminate the Columbus Day holiday to help with the bailout and financial dilemma...

God knows we would nt expect any sacrifice like that...

Still have to get those special percs...We private industry workers will foot that bill to...No problem...Thats a common holiday for us to out here in foot the bill world...

:puke:

[RoadMap]

I would like to personally thank the dem's for doing nothing about this mess and creating it. Thanks you worthless mother f uckers!!!

[scap]

Say ADIOS to your 401k plan returns...

Yours and my asses are mud tommorrow...

And by the way the oversite, the ones your going to go push a button to vote for you ll be wishing you could pull a lever of a trap door to send these useless pieces of crap to hell!!!!

Because they let this economic disaster get so out of hand we are really going to get f&#^@d now...

Just watch and see what the market does tommorrow...




:toasted:

No offense, but it's quite ignorant that the Democratic senate over the last three years is entirely responsible for the shitheap of trouble we are currently in; here you sit, typing about republicans...Look, I'm not going to be a prick, I just want more liberals to educate themselves before attempting to make a point.

[RoadMap]

Scap just wait and see what happens if they win the Whitehouse! They will go totally unchecked. There will be of course a complete power struggle within the Democratic party itself and they will spend the country well past 20 trillion within 4 years. All those pork barrel projects attached to those already costly bills. They won't have to add stuff to bills going through either branch of congress to get it to pass because they will already have the majority locked in. But then the power struggle will kick in and destroy whatever diginity they have left. Leaving the lobbyist and the Muslims running the country!!!:confused:?

[USIC1]

Hey PEOPLE!?!?!?

I believe Americans can tell whos full of it and who is nt at election time...

There already on the right track with the polls...

:smiliedance:

[yahoo]

again the polls are full of liars and media frenzy.....the media will only show you what makes the ratings go up.....having a future black president makes the polls go up.....if obama wins you are welcome to call me a liar......

[USIC1]

If you have investments better pare the risk a little more-

DERIVATIVES BUBBLE NEXT!!!!


http://seekingalpha.com/article/99674-coming-soon-the-600-trillion-derivatives-emergency-meeting?source=article_sb_popular