financial melt down has already began

[arakboss]

ive never had a credit card

I wish I never had a credit card.

 

[ma96782]

To get out of debt......

Vote for Elizabeth Warren. She'll take from the rich, to give back to those that will vote for her. What a plan!

Aloha, Mark

 

[Member 5605]

View attachment 641179

To get out of debt......

Vote for Elizabeth Warren. She'll take from the rich, to give back to those that will vote for her. What a plan!

Aloha, Mark

We have a "Bullbubblegum" button like that at work.
We use it often

 

[CLT65]

Actually, Wikipedia says that the 9mm luger was invented in 1902, and the 45acp was invented in 1904...

Exactly. (I actually like them both).

As to the financial world stuff, I just can't allow myself to get too wrapped up in worrying about it. We live frugally by driving old cars, avoiding debt, and trying to live within our means. I'd be in a world of hurt if I lost my job, because we live on a single income for unavoidable reasons and have a house full of kids to raise. Any idea how hard it is to raise a family on a single blue-collar income nowadays?

Saving for retirement? What's that? I'll try to figure that out after I figure out how I'm going to pay the mortgage and taxes next year.

 

[ditchtiger]

I wish I never had a credit card.

I wish my wife never had a credit card.

 

[GWS]

I'm reminded of Stansberry Research
For 3 or 4 years the economy was going to collapse in 6 months.
Buy their gold and silver to protect yourself...

 

[Kruel J]

Viagra?

Not necessary.

 

[SUPER X]

Does that fellow own that home? Or does the bank own half?

I own half of a property that is in the $500K range, three paid for vehicles, zero CC debt (month to month) and about $4-500K in retirement funds. I have a 6 figure income that is likely to continue for another year or two, then about $30K in SSI benes alone when I retire.

But I also have family that is unemployed and I am their backup, in more ways than one - to the tune of several hundred thousand $ over the last couple of decades. I am not going to let my only child go homeless - if I have to I pay their mortgage, their medical bills, the car repair bills - to keep their heads above water - I will.

Do not underestimate the ability of life to throw a curve ball at you.

Dad is that you ? Lol

 

[titsonritz]

No, it's in a class of suck all by itself!

Sounds like .380.

 

[No_Regerts]

Sounds like .380.

Its like a 380 in B minor.

 

[titsonritz]

Its like a 380 in B minor.

 

[grandpaknowall]

The Portland Real Estate bubble is bursting. Do a little homework - this is fact!
Condos that were selling for 220K in April this year are now selling for $175K.

 

[gmerkt]

I'm going to assume the OP wasn't an attempt at disinformation even in our little corner of the cyber world. A person can find any number of sites online that are self-serving. Re. the linked blog, the guy who runs it is or was a trader, he may have axes to grind.

A person doesn't have to rely on biased websites for information. There are subjective analyses that may be read on the subject. For example, The Age of Stagnation, Why Perpetual Growth Is Unattainable, by Satyajit Das, 2016. You can get a used copy on ebay or Amazon for about $4. Read it but you won't like what he says. We can pretty safely assume there is financial trouble on the horizon, pretty big trouble and it won't be limited to the financial sector. We had a good taste of it in 2007-08 which was contained by some artificial, strong measures by governments and central banks. Kind of staved it off for some future date.

The growth of credit and fanciful financial instruments have gone off the rails. Fractional banking has been around for years but never before has it gotten so far leveraged. Interest rates kept artificially low for way too long have only made things worse. Cheap money has created huge risks.

The Federal Reserve, the central bank for the US, has tons of bad paper on their books. They take in illiquid assets and pay out newly created currency in exchange. They wind up with a big stockpile of mostly worthless junk paper. It amounts to trillions of dollars. It's a lot of stuff and unwinding it is problematic.

Another big problem, ongoing US debt. What is it, 22, 23 Trillion dollars? It'll never be paid off. Back during the Eisenhower administration, public officials used to think about budget. Running a government within realistic revenues. That has been kicked into the corner big time for nearly the past 20 years. And now we're finding that once they start running Trillion dollar annual budget deficits, they (we) kinda get used to it. It no longer presents itself as a big deal to run that short every year. It can only end in tears.

They tell us, Low Inflation. How about that $26,000 house in 1970 that now sells for $650,000, that's no inflation? Or those rows of new Ford F series pickups at the dealer that sell for $50,000 to $75,000? To the guy who was comfortable with his six figure bank account, know what that would buy just 20 years ago??? The pity is, think how little it will buy in another 10 years. Our money is rapidly losing value. Yes, it can only end in tears.

 

[coop44]

I have $0 in auto loans, and $0 in credit card debt. Should I be worried?

Any by the way, you all can keep your ancient, old fashioned, grampa 45 acp. I'll go with the modern new, state-of-the-art 9mm Luger. That, and the even newer and more modern .22lr.

Great sarcasm as the 9!mm predates the 45 by a few years. The 22lr dates to 1884. (I really, really hope it's sarcasm and not just plain old ignorance)

unemployment rates? Government numbers only count those drawing benefits, not those ineligible, or those who have exhausted their benefits.The real number is always a point or two higher, as extensions ceased to be offered I would think closer to two points higher. The numbers can always be manipulated by those in control, always have been.

inflation is killing us, $3 cup of coffee (not even a large), a p.o.s. new Car for $30k, a "fixer" home for $ 300k. Minimum wage here will be more than I made as a journyman carpenter back in 1979 come january first. Sadly many people think it's normal.

As our nation sinks deeper and deeper into debt (deficit spending) your dollars are worth less and less every day. Responsibility for this? All of those demanding "programs" (aka, free sh!t) from the government, and the politicians they elect who promise it to them. Runaway defense spending, and the politicians willing to rubber stamp spending bills. Of course don't forget really, really big government who seem to have no other purpose than to fawk with our daily lives, of course with the approval of, you guessed it, politicians.

It seems we have a common thread here, politicians, and the idiots who elect them.

has he whose name I shall not speak said that we have the lowest inflation rate in decades. Not that I recall.

 

[arakboss]

I wish my wife never had a credit card.

My wife wishes I never had a credit card

 

[arakboss]

Exactly. (I actually like them both).

As to the financial world stuff, I just can't allow myself to get too wrapped up in worrying about it. We live frugally by driving old cars, avoiding debt, and trying to live within our means. I'd be in a world of hurt if I lost my job, because we live on a single income for unavoidable reasons and have a house full of kids to raise. Any idea how hard it is to raise a family on a single blue-collar income nowadays?

Saving for retirement? What's that? I'll try to figure that out after I figure out how I'm going to pay the mortgage and taxes next year.

What's retirement? I'll be punching the time card until the day I punch out for good.

 

[308]

Cash at the crash is king.

 

[bikemutt]

The quantitative measure of liquidity, M1, is actually at an all time high from what I can tell.

United States Money Supply M1 | 2019 | Data | Chart | Calendar | Forecast

That would lead me to believe there are lots of folks on the sidelines.

The money supply measures reflect the different degrees of liquidity—or spendability—that different types of money have. The narrowest measure, M1, is restricted to the most liquid forms of money; it consists of currency in the hands of the public; travelers checks; demand deposits, and other deposits against which checks can be written.

 

[MannyGlocks]

"I know everyone here has their own ideas about prepping and getting imaginary gun battles over the weeks after pushing papers 9-5"

A bit of scorn served up for the members here, eh ant-nee.......

Your unintentionally hilarious posts are entertaining though.

Please keep it up, everyone enjoys laughing....

 

[solv3nt]

The Portland Real Estate bubble is bursting. Do a little homework - this is fact!
Condos that were selling for 220K in April this year are now selling for $175K.

Remember the last real estate bubble? The Portland market went down, but stop no where near the national level; it was more of a minor drop.