The Coming Depression has Begun:Tent Cities have gone up in Suburbs

reply to post by assassini

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I don't have much sympathy for someone who gets their new BMW reposessed. But how can someone actually believe that the majority of "hard luck" cases are the fault of the individual? No man is an island. That's like blaming people for being unemployed during the Great Depression.



[edit on 1/15/0808 by jackinthebox]

reply to post by jackinthebox

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Good point. I do not blame people for being unemployed if no jobs are available. I do blame them for not looking ahead. In today's world anyone can lose their job overnight and should have some sort of plan for dealing with that possibility. 3 to 12 months worth of emergency cash might be a good start. Living below your means is another. We haven't run out of jobs in this country yet, at least not in TX. or FL. I still see "now hiring " in quite a few places. It may not be the job you want, but it is a job. Also, If there are no jobs in one's area, then it might be wise to go somewhere that has jobs. I'll end it there as I have to be at work in 4 and a half hours. You are right Jack. No man is an island. I just think that it is much easier to help some one out if they are helping themelves.

On a MACRO level, the U.S. has been the recipient of largely unearned prosperity for the last 40 years or so. Other countries' reliance on the dollar is coming to an end, aside from those who are tied to our debt (suckers!). This all goes back to the elimination of the gold and silver standard and the proliferation of paper money. No, thank YOU Federal Reserve. :-|

In short, many of the goods and materials we've been enjoying are backed by a currency that has little value. Our only redemption (if any), is that so many countries are now tied to the U.S. economically that it will be in their best interest to cooperate with the U.S. agenda.

Saudi Arabia's king is thumbing his nose at the U.S. and refuses to produce more oil because the currently high prices are paying his share of the American deficit. Now that American muscle is on the wane, he knows that we can't afford to coerce any nation to accomodate us. We've painted ourselves into a corner.

I'd be indifferent to see Americans live within their means, though. In fact I'd welcome the change. This whole idea of "credit" is a crock, designed to lure people into debt. And it worked like a charm. I don't wish for families to stand in soup lines or lose their homes. But serioiusly: what were we thinking? Fancy cars, dining out every night, entertainment systems monopolizing our whole living rooms with PS3s, DVDs, DVRs and cable TV. What a self-indulgent nation we've become. And if it hadn't been for our materialistic impulses, we probably wouldn't have had the diligence to conjure such capitalistic schemes for the typical consumer. The whole system is perpetuated by advertising and business.

One day it may all go away and you might have to (gasp!) read a book for entertainment purposes by candlelight.

God Bless What's Left of America.!

Life on credit is how many Americans have been living & now it is starting to bit them back. I grew up poor & learned first hand how bad it can get. It taught me a valuable lesson on how to manage money properly, how to live way below my means & to ALWAYS expect the floor will fall out at some point in life.

So while others are trying to cling to a house they never could afford, mine is nearly paid off. (not bad for being only 32) The two cars sitting in my driveway are mine to do with as I wish. I owe nothing on either of them & while they may not have all the bells & whistles, they run great.
We have no credit cards, we purchase everything with cash & we are not beneath buying second hand. My husband is the sole income, but even if he were to loose his job today, we have made plans for such an event. That is what finacial planning is all about.


All I'm saying is that many Americans need a wake up call. A 100k house does the same thing as the 300k one. A 3k, used car, will get you to work just like that 30k, gas sucking SUV & no, your kids don't need a $400 cell phone, a $50 one will do just fine. Keeping up with the Jone's is over-rated, especially when you literally loose the roof over your head trying to do it.