The death of "live now pay later" lifestyle.150 Banks could be out of business soon..

The death of "live now pay later" lifestyle.150 Banks could be out of business soon..

finance.yahoo.com

But the troubles are growing so rapidly at some small and midsize banks that as many as 150 out of the 7,500 banks nationwide could fail over the next 12 to 18 months, analysts say. Other lenders are likely to shut branches or seek mergers.

(visit the link for the full news article)

The "live now pay later" lifestyle is heading to an end. the "why work for your money ? let your money work for you" lifestyle is also heading to an end.Dow Jones will be today well under 11000 points, heading towards 9000 at the end of the year.. Who are the people to benefit? and how can we (me) survive the things to come?

finance.yahoo.com
(visit the link for the full news article)

I've been noticing that our local bank is trying real hard to hang on to business and gain new business.

There's a huge display near the teller counter with a calendar. And each week they are offering this or that free item. Computers, digital cameras, etc. Sometimes even a check for $250.

One week, just by going to see a teller, they were giving away those environmental bags for carrying groceries.

brilliant,maybe this will bring down prices to a level where people can actually live within their own means. Instead of having to sell their soul to just get by.

i am from Eastern Europe but i live in the UK now. back in 2003 when I arrived to UK , most of the TV commercials would push you to have all kinds of special deals on credit cards. Now, a major shift- most of the banks advertise on how to save money! All the banks are desperate on collecting capital.This is because of the "fractional reserve banking system" that would allow them to lend 10 times the amount of their capital.

reply to post by sty


It's all going down "Fight Club" style. An end to our dualistic nature of being all that we can't be. start stocking gold peace

reply to post by letthereaderunderstand


what would be the best job to have for the next few years? i can make a list of "not to have" jobs - like banking jobs. But I wonder what would still be needed when the money will become as valuable as the ink and paper that prints them...
so, what was the best job do have during the great depression? thanks..

I am going to bury my head in the sand. Will someone please come and wake me when the economy/world is back to normal? Oh, and please pay my bills for me while I am away.

The DOOM AND GLOOM really seems to be intensifying. This has been one hell of a year.

reply to post by sty


I wondered the same thing a while ago. Turns out it was working in a liquor store.

reply to post by Karlhungis


haha, selling alcohool will go well . Some will use it to power their cars, some will use it to forget about their cars
wel..it looks like the trouble will last for about 8 years. I guess now it`s the right time to become amish haha

When I see this kind of collapse I wonder if it's not just a technique used by Billionaires & leaders to cut the number of millionaires & people with a different view of society and just rich enough to annoy them. Add on top of that "middle-class people who lost their retirement money will have to work even harder and longer" and this financial crisis is just another way to control the population from behind the curtain.

My bank is currently guaranteeing 5% interest on all accounts that contain $25,000 or more in them. My dad thought it was a great deal. I see it as a ploy to keep liquidity.

Originally posted by Angry Danish
My bank is currently guaranteeing 5% interest on all accounts that contain $25,000 or more in them. My dad thought it was a great deal. I see it as a ploy to keep liquidity.

Yeah, losing your money isn't such a great deal. They might as well promise 100% interest.