Comments on: On the Losing Side of a Credit Battle http://dailyreckoning.com/on-the-losing-side-of-a-credit-battle/ Entertaining Ideas on the Economy, Markets, Gold, Oil and Investing Strategies. Sat, 11 Feb 2012 01:59:47 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: sierra http://dailyreckoning.com/on-the-losing-side-of-a-credit-battle/#comment-30369 sierra Wed, 07 Oct 2009 15:57:06 +0000 http://dailyreckoning.com/?p=18826#comment-30369 "....full employment, 5% unemployed.." That will tell you why "economists" are not scientists in true form...just "conjurers" of the true state of our plight. Until we are forthwith with true numbers describing our economic condition we will not have an "exit strategy" to this mess. And, Americans will now (the common folk) have to live by their wits.....as witnessed and written by another here, the increase in thrift shop purchases; increases in "garage sales" and the like. I believe it's still "early days" in this mess and we have much more to look forward to....remember, the stock market crash in '29 was followed by a 90% market rebound by around '31-'32.....and then it was a descent into the abyss. What absolutely stunned the participants in those years was that no matter what they did, there was no money. Period. That is what a depression is like. No money. Period. Available..... BB may be a bit pessimistic, but as an 79 year old who vividly remembers the '30's and the life my family and relatives had, BB is right on....be prepared. Without knowledge of the past, you cannot prepare for a future. “….full employment, 5% unemployed..”
That will tell you why “economists” are not scientists in true form…just “conjurers” of the true state of our plight.

Until we are forthwith with true numbers describing our economic condition we will not have an “exit strategy” to this mess.

And, Americans will now (the common folk) have to live by their wits…..as witnessed and written by another here, the increase in thrift shop purchases; increases in “garage sales” and the like.

I believe it’s still “early days” in this mess and we have much more to look forward to….remember, the stock market crash in ’29 was followed by a 90% market rebound by around ’31-’32…..and then it was a descent into the abyss.

What absolutely stunned the participants in those years was that no matter what they did, there was no money. Period.

That is what a depression is like. No money. Period. Available…..

BB may be a bit pessimistic, but as an 79 year old who vividly remembers the ’30′s and the life my family and relatives had, BB is right on….be prepared.

Without knowledge of the past, you cannot prepare for a future.

]]> By: Harry http://dailyreckoning.com/on-the-losing-side-of-a-credit-battle/#comment-30361 Harry Wed, 07 Oct 2009 15:08:12 +0000 http://dailyreckoning.com/?p=18826#comment-30361 Mike: Well said. Instead of whining and complaining, as we see here on a daily basis, you're actually being proactive, working hared and making good living. Hmmm....sort of sounds like the American Dream. I'm so sick of hearing about no job creation/where are the jobs going to come from conversation. Mike is an example of what people can do with energy, intelligence and good old fashioned hard work! Mike: Well said. Instead of whining and complaining, as we see here on a daily basis, you’re actually being proactive, working hared and making good living. Hmmm….sort of sounds like the American Dream.

I’m so sick of hearing about no job creation/where are the jobs going to come from conversation. Mike is an example of what people can do with energy, intelligence and good old fashioned hard work!

]]> By: Mike http://dailyreckoning.com/on-the-losing-side-of-a-credit-battle/#comment-30358 Mike Wed, 07 Oct 2009 14:36:23 +0000 http://dailyreckoning.com/?p=18826#comment-30358 Sharon: I'm in the door to door business. Have been for years. Six figure incomes for those who think and work long, hard, and smart. And you can sneak off for two hours and watch your kids at a school function. Sharon:

I’m in the door to door business. Have been for years. Six figure incomes for those who think and work long, hard, and smart. And you can sneak off for two hours and watch your kids at a school function.

]]> By: Mike http://dailyreckoning.com/on-the-losing-side-of-a-credit-battle/#comment-30357 Mike Wed, 07 Oct 2009 14:33:37 +0000 http://dailyreckoning.com/?p=18826#comment-30357 Survival of the fittest is nothing new. Time for folks to reinvent themselves. Hopefully no one is still waiting for the buggy whip business to resurrect itself. A new normal, again. Pray for wisdom and good health. Survival of the fittest is nothing new. Time for folks to reinvent themselves. Hopefully no one is still waiting for the buggy whip business to resurrect itself. A new normal, again. Pray for wisdom and good health.

]]> By: Upstatefarmer http://dailyreckoning.com/on-the-losing-side-of-a-credit-battle/#comment-30350 Upstatefarmer Wed, 07 Oct 2009 13:57:28 +0000 http://dailyreckoning.com/?p=18826#comment-30350 The agricultural sector is always looking for workers. Most of the jobs are filled with immigrants - many of them illegal. If it gets bad enough I suspect many Americans will go back to hard labor and farm work. At least they'll have food in their bellies! That is if we can keep the farms in business that long as they're dropping as fast as flies. The agricultural sector is always looking for workers. Most of the jobs are filled with immigrants – many of them illegal. If it gets bad enough I suspect many Americans will go back to hard labor and farm work. At least they’ll have food in their bellies! That is if we can keep the farms in business that long as they’re dropping as fast as flies.

]]> By: Sharonsj http://dailyreckoning.com/on-the-losing-side-of-a-credit-battle/#comment-30348 Sharonsj Wed, 07 Oct 2009 13:38:02 +0000 http://dailyreckoning.com/?p=18826#comment-30348 I predict that many people who lost jobs and cannot find new ones will return to 18th century work: rag pickers, door-to-door hawkers, and trading in second-hand goods--which is all the rest of us can afford. If you think I'm wrong, look around at all the consignment shops opening up, and the surge of buying in thrift shops. I predict that many people who lost jobs and cannot find new ones will return to 18th century work: rag pickers, door-to-door hawkers, and trading in second-hand goods–which is all the rest of us can afford. If you think I’m wrong, look around at all the consignment shops opening up, and the surge of buying in thrift shops.

]]> By: always right http://dailyreckoning.com/on-the-losing-side-of-a-credit-battle/#comment-30345 always right Wed, 07 Oct 2009 13:20:14 +0000 http://dailyreckoning.com/?p=18826#comment-30345 I manage properties for a living (mostly rental properties) and I see the trouble ahead of the trouble we are already dredging threw .. being a homeowner has lost most of it's incentive these days and the same goes for being a landlord - These days you get nickel and dime'd to death with inspectors - fees - court costs - section 8 - board of health and on and on and on - you are not even aloud to fix or touch most things in your own house due to lack of license or excessive regulation. Its technically against the law to fix most of the common problems at your own house, more so when one of many regulatory inspectors see's what need's to be done - It has gotten so bad and with all the new law's the prez of USA has on his list, it will soon be a nightmare - The only jobs that will be left after this over-regulated hurry up and spend-a-thon is over will be government jobs - all small business will be so badly molested by now, and the future cycle of change that they will be to scared to try anything that isn't on the governments payroll - the best tenants these days are the government subsidized type - the one's with real jobs are the gamble because they will probably lose it- SAD BUT TRUE I manage properties for a living (mostly rental properties) and I see the trouble ahead of the trouble we are already dredging threw .. being a homeowner has lost most of it’s incentive these days and the same goes for being a landlord – These days you get nickel and dime’d to death with inspectors – fees – court costs – section 8 – board of health and on and on and on – you are not even aloud to fix or touch most things in your own house due to lack of license or excessive regulation. Its technically against the law to fix most of the common problems at your own house, more so when one of many regulatory inspectors see’s what need’s to be done – It has gotten so bad and with all the new law’s the prez of USA has on his list, it will soon be a nightmare – The only jobs that will be left after this over-regulated hurry up and spend-a-thon is over will be government jobs – all small business will be so badly molested by now, and the future cycle of change that they will be to scared to try anything that isn’t on the governments payroll – the best tenants these days are the government subsidized type – the one’s with real jobs are the gamble because they will probably lose it- SAD BUT TRUE

]]> By: JMR bayou bobby http://dailyreckoning.com/on-the-losing-side-of-a-credit-battle/#comment-30280 JMR bayou bobby Wed, 07 Oct 2009 00:53:39 +0000 http://dailyreckoning.com/?p=18826#comment-30280 well okay! I have just written and distributed a memo for the record authorizing a raise for ME! WHEE! Investing is easy! well okay!

I have just written and distributed a memo for the record authorizing a raise for ME!

WHEE! Investing is easy!

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