A vague warning from the top

They will take nothing that you do not give. lack of fear is called freedom.

reply to post by Ghost375


About 200 times per day.

Look it up.

reply to post by VitriolAndAngst


Rounded up by whom? This is the crux of this particular fantasy, because we know for certain the US Military CANNOT do it. They couldn't do it in Afghanistan or Iraq; what makes anyone think they can do it here (in a country 40 times the size and full of overly armed, highly educated "deadbeats."

This entire scenario is wank-material.

reply to post by TheRedneck

The Senator was probably making a general statement regarding the state of the economy and the cruel reality of what can happen when interest rates start to rise and lenders exercise their options (where applicable) to call in loans and/or foreclose on collateral if payments (especially hard to make if interest rates make a quantum leap) increase. For those who lose their jobs in the next five years it will be virtually impossible for them to service their debt. Bankers (especially the large money center banks) have a reputation for being adept at exacerbating and taking advantage of the business cycle to acquire assets on the cheap. I am thinking he was referring to something like that rather than being privilege to something more specific....but I dont know for sure - he could be privy to some nefarious grand scheme.

reply to post by TheRedneck

Originally posted by TheRedneck
reply to post by MidnightTide

The most important thing you can have to keep yourself safe if the SHTF is knowledge...

TheRedneck

"Knowledge" and the Will to Act (will to act to defend one's self, property and family; will to survive despite the dire circumstances; in other words, the will to act on that knowledge you have). Some will have the knowledge but surrender or otherwise succumb to their situation and perish with those less knowledgeable.

Good post, and to me it sounds like he means simply that it isn't safe to borrow money now- thinking, from a respected senator's position, he'd never be one to walk out on a loan or not pay one back anyway...and he was trying to give your friend advice about taking out a loan to run for office, so I think it was a general warning that the economy is going to be crap for at least 5 more years.

Interesting post Redneck. I always like your posts. :-)

Originally posted by RawkMan

Didn't Gecko say that "Greed was Good"... that was supposed to be a *warning* by the film-makers, not a call to arms. Did people not 'get' the point of why that speech was included in that film? Anyways, regardless of the effect of a film from the 80's, *everything* will go down the pan.

The Gordon Gecko quote was actually paraphrased from statements by Ivan Boesky who was a big corporate raider at the time (like the Gecko character). as to a "warning"....the stock market did crash in 1987 just a few months after the release of the film, Wall Street. As to the sequel (WSII) it came out about 4.5 months after the "flash crash" of May 6th, 2010.

reply to post by proximo


Yes, Proximo, under high inflation you can pay back the debt with cheaper dollars. They (they, the ubiquitous "they") know this...that is why we must go thru the deflationary stage first. I know gold is up 7 fold in 11 years due to fear of money printing but the money multiplier has been negative thus far (it takes both to get inflation). When the banks let loose of the money then we will have inflation (more money chasing fewer goods) but in the meantime they want to ring out excesses from the system and take your collateral while it still has value. When it comes to the point that the bankers get 0 for the debt then we will see inflation. Risks in the meantime are confidence in the system and the dollar remaining a key currency in international settlements.

Interesting the number of those who don't understand the statement. My guess is they will be the first to be hurt by what is obviously headed our way economically.

Back when 9-11 happened, it was as if the phones to my business were shut off. after some months of no business, and speaking with others who are in the same business, I realized we all were in the same boat.

My grand parents on both sides were successful business owners during the depression. However they always said watch out for the signs of a depression and start to hunker down. While I'm hardly the smartest cookie in the box, I'm not exactly dumb either. So I did exactly that. I paid off all business debts, sold off everything, moved out of the business rental unit as soon as the lease expired and went into the business operating out of my trunk (so to speak). Did I make a mistake? Nope! In fact I'm one of the few still in that business but still operating out of my 'trunk'. I also retired early and took Social Security at 62.

GOOD MOVE! The market for my old business has all but died.

Now consider where I would be today if I had not taken my grand parents advice. Probably broke and living out of my trunk, not a nice house that has no mortgage. My cars are older, in good condition and paid in full. In fact I've no debts except the regular monthly bills and a very low property tax.

Now to bring us back to the writers statement. I believe the Senator was making a general observation. The economy is going to get a lot worse, and those who are in debt will suffer for their decision to carry a debt during uncertain financial times. How long will this last? I'm of the opinion at least a decade as various governments has set themselves up for economic ruin. Will the Euro die? I doubt it. Will the dollar die, possibly.

The problem is for the individual. If you loose your job/employment and everyone else has lost theirs how are you going to pay off your house or car mortgage?

Wake up people, out old way of business is not likely going to work in the new economy.

BTW, what did my grandparents do that kept them above water? They had rooming houses and old fashioned bars that also sold food. During prohibition, they both made illegal booze. What they did not have were mortgages.

Originally posted by 0zzymand0s
reply to post by VitriolAndAngst

 

Rounded up by whom? This is the crux of this particular fantasy, because we know for certain the US Military CANNOT do it. They couldn't do it in Afghanistan or Iraq; what makes anyone think they can do it here (in a country 40 times the size and full of overly armed, highly educated "deadbeats."

This entire scenario is wank-material.

"rounding them up" -- no, people will lose their homes one at a time. You are perfectly free to hide out in the woods - -but eventually, when you rejoin society and have no credit, you immediately can only live on the streets or walk into whatever "service" is provided. With Austerity measures -- as if people can "save" a Billion or make a billion using a shovel rather than modern day equipment -- that's going to be meager.

A lot of states have set up old prisons as shelters.

Educated people with guns have to agree that they won't work with the system -- right now, people think it's FAIR to have the rich pay almost no taxes. They are already slaves in their heads. Nobody is FORCING you into a corner -- you have to put yourself there by accepting the status quo.