Oops

re: Oops

Neil H. Wenberg — Thu, 09 Oct 2008 12:58:04 GMT

If you spend more than you make, your headed for trouble. Borrowing more than one can aford and owning credit cards are two curses one should try not become afflicted with/ addicted to!

re: Oops

Larry L — Wed, 08 Oct 2008 17:51:38 GMT

The collective wealth of the Forbes 400 is $1.5T (that's TRILLION - 12 zeroes). Now you know where the productivity gains of the past 10 years have gone. Look at the GDP back in 1998 and look at the number now. Where did the additional $16T created during that time go? Some of it was probably bubblenomics (i.e. not real - funny money). But enough of it (even if it is less than half) was real so that you have to wonder where it all went. It obviously did not end up in the pockets of the people who work for a living, used to pay down the national debt or used fix our ancient roads/bridges, airports and electrical poqwer grid. Did some of it end up overseas like how Third World despots move all of the money out of their own country so that people cannot touch it?

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N-GIRL — Wed, 08 Oct 2008 16:57:29 GMT

Should we all put our money under the mattress? If you're hoping for change, hope for it in your pockets!

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N-GIRL — Wed, 08 Oct 2008 16:14:54 GMT

R-Duke, you speak with much wisdom. You should have a website!

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N-GIRL — Wed, 08 Oct 2008 16:10:50 GMT

Poor Ed, I am not rich by any means. My monthly income is like yours. The last raise I got was 75 cents an hour. My company doesn't give out cost of living raises. I still have a mortgage and utilities, but no credit card debt. I knew that my income wasn't going to increase greatly any time soon. I had to start bucking up and face my own $ demon. The first thing is not to create new debt. The second is to concentrate on get as much credit card debt paid. Even if you have to pay $5 over the minimum, get ahead little by little. Call any debtors you owe to see if you can work out a payment plan. The worse they can say is no, but it never hurts to try. You may be suprised. I shop for bargains everywhere. I learned from mom and grandma. Check out MSN money community. They have some good postings there. Check out 08 Oct dollar bill challenge by Pepperdoo.

We're not really debt free, because we all have utilities each month and we have to each. Like everyone says we all have to live within or below our means. Living in New England (And in some cases, the Northern reaches of America) where the heating costs are really bad in the winter. I have electric heat and I called my electric company and got a good budget that helps. As I said, you never know unless you call.

Well, that's my advise PoorEd. I hope it helps. Maybe your won't have the poor attached to your name one day. Good postings everyone! I love all your imputs so far.

If anyone want to pass me a tissue, listen to what happened here. In August, I decided to up my 401K contribution. EEESH! I think I'm now going to ask the Magic 8 Ball all my financial decisions for now on. It probably gives better advice than the so-called "financial wizards!"

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David — Wed, 08 Oct 2008 16:06:24 GMT

cherobee...

Maybe you missed some of the digits on the debt clock... @ best the Oil Companies have Billions on hand. The clock is in the Trillions.

It really wouldn't make a difference if they gave it back, what they gave back would be gone in days. What we really need is to pressure our government to stop waisting our money and start bringing down the debt. We shouldn't ask for a new debt clock, we should demand that the our debt be reduced and the old one remove digits.

Unfortunately, that will never happen.

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kusunoki — Wed, 08 Oct 2008 15:52:30 GMT

Problem...Short Version

Financial greed followed by fiancial capitualtion...bleeding over into economic panic...driving global financial and economic crisis

Symptoms...too many to list unless you aim to uncover root causes versus eye gouging

Unemployment Solutions...Lots of labor based jobs available, any takers?

Economic and Financial solutions...Screen personnel attempting entry to the US at the Border...verify they are not traffickers, criminals or miscreants [allegedly we have the technology to do this]...see what type of employment they are seeking, probably labor based...offer them low interest home rates. Chances are they will stay and pay their bills and have a profound effect on our economy and labor vacuum.

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R-Duke — Wed, 08 Oct 2008 15:48:28 GMT

Cherobee, a large part of the money NEVER EXISTED!! Money is an expression of value and value comes from PRODUCTIVITY. The economy has been artificially inflated by the housing boom. THIS WAS NOTHING BUT A SCAM, a boilerplate opperation on a vast scale. Even bigger than the junk bond scandal of the, what was that, early 90's? Enron, etc. etc. The same kind of fraudulent business practices.

Essentially, many of these mortgages were monopoly money, securities that weren't worth the paper they were printed on, but were traded as if they had real value. "Give me $100 real money now for $100 in monopoly money, and I'll give you $110 real money later."

Some people managed to get VERY rich by pretending to be richer that they were. Who are they? They are hidden by a thicket of lawyers, lobbyist and political privelege. No meaningful criminal proceedings will take place. Anyone who goes down will be a patsy for the true villains.

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kusunoki — Wed, 08 Oct 2008 15:38:24 GMT

Federally appointed positions are supposed to act in the best interest of society as a whole and should identify market manipulation and hedging as tools of greed not investment. Also, what really stood out in my mind was the fact that the US govt dumped 5 Trillion in debt from fannie and freddie onto tax payers but the media sensation and the public outcry from the more recent 700 billion bailout caught and still holds our attention. I hope this doesn’t offend anyone but people who took Cramer serious about pulling out of the market actually did the right thing for serious investors. His show is purely economic entertainment…at best it is a Wall Street version of WWF. How could anyone take him serious? His recommendations are reactive, flavors of the minute.

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R-Duke — Wed, 08 Oct 2008 15:27:40 GMT

4434, a depression is inevitable. 80 years of government intervention on behalf of companies that get themselves into trouble has guaranteed that unhealthy institutions have survived, and THRIVED on handouts that come from us. I think it was H. L. Menchen that said "The end result of protecting men from the effects of folly is to fill the world with fools."

Since the bailout is going to happen, despite the protests of, if not a majority at least a lareg percentage of Americans, it should be applied on the principals of TRIAGE, helping the healthiest businesses survive. When the others die off, they will be ibn a good position to grow into the roles vacated by the diseased.