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Any of you guys interested in all the law changes that affect you financially? Lots of stuff happening that could lead to a SHTF that escalates to true MAD MAX.
If you are interested then I will post some of the big changes in the budget and banking that affect you greatly but won't waste my time if you guys have no interest.
 
I know Elizabeth Warren and Nancy Pelosi have their panties in a twist over the cromnibus that passed the House Yesterday but other than that..............
Something about Banks ability to lend requirements loosened a bit?
 
Lots going on, not long ago it was ruled all deposits in a bank were part of the banks finances. Means they can steal your money to pay debts. Yesterday they allowed banks to move 3 trillion in derivative speculation to bank debt covered by the FDIC.
 
Yep government is going to allow pension cuts by union and private pensions.

Plus by making all deposits part of bank funds it means not just us little people could be hurt but most companies must make deposits to cover payrolls. I doubt those big deposits are covered by FDIC. Little guys don't get paid and companies get shut down at banks discretiono_O
 
I don't trust Warren any more than the Bankers.
Banks were forced to lend to unqualified borrowers by the bleeding hearts in Washington and a changing of the uptick rule allowing hedge funds card blanche with naked short selling caused a lot of the problems is what the history books on the subject are starting to say.

The derivative speculation you speak of was supposed to be corrected by new stricter laws defining Banks from Brokerages right?. Banks must be backed by a larger % of cash and assets vs loans. Has that changed significantly? A lot of people say artificially low interest rates and Dodd/ Frank regulations have kept the economy down.
Perhaps easing things up a bit will help the economy?:s0092:
 
Economy was killed by obamacare, it took a trillion dollars from the economy. It still has not been fully implemented but is destroying jobs. The financial agreements in this budget is not going to help, I believe they are setting up who is going to take the fall when the system crashes. How in the world could they back derivative speculation by the FDIC?o_O
 
I am interested in what you are saying.

My anecdotal input:

1. Lots of radio and internet adds for the junk mortgages again. Appealing to the American consumers greed and desire for new phones and granite counter tops. Use the equity in your home to drive yourself further into debt for the toys and good things.

2. Lot of balloon mortgages coming due now and in the next 2 years that were taken out at the top of the fake market in 06 / 07. I know of at least 3 homes that came on the foreclosure list here locally in the last 2 weeks. One of them a 1977 home that has all the original windows, interior cabinets and trim and some flooring. On the market for $ 223,000 in a desperation sale before a foreclosure. :eek::eek:

3. Resource extraction ( rock quarrying, cement production) first tier construction trades are not screaming along. They bear no resemblance to a thriving market place. Until I see rock and cement trucks going down the road a bit more, there is NO recovery.

4. Energy stocks took it in the a$$ this last week. I know a guy who was holding Chevron and lost $ 32,000 in one day. He bought more so I hope it works out for him.

5. The oil sands are going to shut down soon. $ 80 is pretty much break even for them. Break even sucks. There are idiots that bought $ 300K homes there, along with the requiste big bad pickups and toys, and they are now unemployed. The corporate oil a**holes don't care, they will go back to the cheap sweet Saudi crude, costs less to aqquire and much less to refine and extract.Put the tar sands on hold for after the collapse when your paper dollar is not worth a@@wipe.

Me, I just keep buying round cylindrical brass objects, and storing food. I am debt free except for a small mortgage, and we live well under our means. Time to look at hard assets again. Fing banks could go down tomorrow and you know damn well they got their arse covered, They could care less about their depositers. Google Great Depression.
 
Forgot to mention the huge unfunded liabilities that exist in the pyramid schemes that are known as the public pension market. Anybody /thing/person/entity that calls those notes due will be shocked to find the money not there.

Can you imagine how pissed that Joe Retired Public Employee will be when his $ 3,000 to $ 9,000 a month pension will not be paid anymore ?
 
Ok math is not my strong suit so I keep it simple for my pee brain. They claim 5.6 unemployment yet the numbers they give for all people out of work that want to work is 91 million. If there are 330 million people in the USA is 91 million 5.6 percent of 330 million?

Student debt is as big as a house payment in a lot of cases and no jobs to be had to make those payments, there is no default on student debt.
 
FWIW, what killed the economy was the housing bubble, not what happened thereafter.

As for "bleeding hearts" in Washington enabled bad loans - it was both people (home buyers/sellers, real estate pros) who pushed through the lessening of rules on loans, not the pols. Of course, the banks ran with it, and where there is money, there is corruption - the more money, more corruption.
 
Student debt is as big as a house payment in a lot of cases and no jobs to be had to make those payments, there is no default on student debt.

Small wonder the government backs all these loans. Loan money to people who will have a hell of a time paying it back, and make it impossible to discharge the debt in bankruptcy or other default. Really makes borrowing for an education a bad idea. My daughter paid cash as she went (still going) to school, and my boys all did 4 years in the Corps and is letting the VA pay for their college education.
 
They seem to be doing them pretty good these days. All tuition, books and about $ 1,400 in living per diem. One of my boys was one of the first vet in an intern program for Fire Science and paramedics. He worked regular ABC shifts, went to school, and was able to work other shifts as well.
 
4. Energy stocks took it in the a$$ this last week. I know a guy who was holding Chevron and lost $ 32,000 in one day. He bought more so I hope it works out for him.

5. The oil sands are going to shut down soon. $ 80 is pretty much break even for them. Break even sucks. There are idiots that bought $ 300K homes there, along with the requiste big bad pickups and toys, and they are now unemployed. The corporate oil a**holes don't care, they will go back to the cheap sweet Saudi crude, costs less to aqquire and much less to refine and extract.Put the tar sands on hold for after the collapse when your paper dollar is not worth a@@wipe.
Good points but.....
I've been buying Exxon (XOM) and some other things the last few weeks. Hoping to see a bottom soon. If you have time to hold out when things sink, oil is still a safe bet IMHO. Plus it pays a good Dividend!

Also the oil sands smaller players will probably get all bought by the Big Mega Oil Companies during this slump created by OPEC. OPEC is trying to kill American oil independence but I think they will lose this time.

It's a gamble all right but I'm a buyer right now! Wish I had some big money to gamble like your guy buying Chevron. I might just score a new truck with my winnings this time next year if my luck holds out though.
 
Student debt is as big as a house payment in a lot of cases and no jobs to be had to make those payments, there is no default on student debt.

Some special people have a way out:mad:
What is the Public Service Loan Forgiveness Program?
The PSLF Program is intended to encourage individuals to enter and continue to work full-time in public service jobs. Under this program, borrowers may qualify for forgiveness of the remaining balance of their Direct Loans after they have made 120 qualifying payments on those loans while employed full time by certain public service employers.

Another scheme to get more people to Vote Dem and stay Dem???
 

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