It is only the beginning of 2009, and things are still looking like they aren't getting any better.
What I want to know is, "how many people out there are caught in the cross hairs of this recession/depression?" I know that job cuts are going to keep happening because a lot of companies haven't got enough money in their bank accounts to cover the costs of all of their employees salaries and health care plans, that is if they still have any type of health care coverage.
One of the main reasons that the economy seemed to be doing great was because it was a false economy in which the only money that was being made was from a pumped up housing market, with very little infrastructure which didn't provide enough real jobs, case in point, Fort Meyers, Florida. So now, they are wanting their bail out because the ones who got their wealth from flipping a house can't flip them anymore to help maintain the false wealth that they had when house flipping was at its peak.
Shopping sprees are a thing of the past now so I say, "GET USE TO IT!" We are here because of the house flippers and the past administrations who decided to deregulate the banks, so that everyone could own a home regardless of whether they could really afford it or not, but a lot of these home buyers didn't care because they knew that they could practically double the price of their house, and make a profit, without actually having to live in it first.
Mean while, The stock market continues to stage rally's regardless of the everyday grim economic reports. Is it only my imagination, or does anyone else see this as being a strange thing? It stands to reason that many businesses are laying off more and more workers each week because they aren't selling as many items as they did when a lot of people were living high off the hog with their falsely accumulated wealth. You have to ask yourself, are they falsely pumping up the stock market, so that investors might think that it must be safe to invest in stocks, even though we are still being told that the jobless situation is still continuing to get worse? Also, there are more and more people who are still going into foreclosure because the TARP program didn't really do anything for these people to stop it from happening to them. So, if the stock market loses points like it did today (-382) because of grim news in the economic sector, then how are they able to rally the next day, when the economic news is still grim?
Now, unless these investors are partially brain dead and or living in a fantasy world, this rallying thing is their way of saying to the common public investors, " come on, buy, buy, buy, it's a good time to buy, stocks are low, we think that we might have found a bottom ( chuckle, chuckle )"
Don't fall into their trap! You need to protect your money while you still can. Who knows what kind of hard ships tomorrow will bring. Nothing is going to change the situation that we are in now, aside from a miracle, so my advice to you is to save, save, save. Only buy the bare necessities. Food and your personal hygiene products: buy those empty plastic soap bottles and put half hand soap-half water in each, so that you can stretch your bottle of soap, shampoo, etc ... you get my drift. I also suggest that you buy a floor safe and bolt it to your floor, or get a sturdy lock box and lock that box in a safe place, oh, and make sure the safe or lock box is fire proof. With the way that the banks are going down one by one, even though they say that your money is secure even if the bank goes under, I would still be cautious because it can be a scary thing when more and more people will need to rely on the FDIC to come to the rescue, which may or may not have any funds left by the time they get to you. I for one do not use a bank anymore. I use to work for a bank over 4 years ago when times seemed normal. As time went on I decided not to use a bank, and I have been doing fine. No bank fees help a lot when times are tight. My next question is: " Why should you pay a fee when you withdraw your own money from an ATM machine?"
With that said, I would like to end this blog with a video, which I found to be interesting and an eye opener, which I am almost certain that you will too.
What I want to know is, "how many people out there are caught in the cross hairs of this recession/depression?" I know that job cuts are going to keep happening because a lot of companies haven't got enough money in their bank accounts to cover the costs of all of their employees salaries and health care plans, that is if they still have any type of health care coverage.
One of the main reasons that the economy seemed to be doing great was because it was a false economy in which the only money that was being made was from a pumped up housing market, with very little infrastructure which didn't provide enough real jobs, case in point, Fort Meyers, Florida. So now, they are wanting their bail out because the ones who got their wealth from flipping a house can't flip them anymore to help maintain the false wealth that they had when house flipping was at its peak.
Shopping sprees are a thing of the past now so I say, "GET USE TO IT!" We are here because of the house flippers and the past administrations who decided to deregulate the banks, so that everyone could own a home regardless of whether they could really afford it or not, but a lot of these home buyers didn't care because they knew that they could practically double the price of their house, and make a profit, without actually having to live in it first.
Mean while, The stock market continues to stage rally's regardless of the everyday grim economic reports. Is it only my imagination, or does anyone else see this as being a strange thing? It stands to reason that many businesses are laying off more and more workers each week because they aren't selling as many items as they did when a lot of people were living high off the hog with their falsely accumulated wealth. You have to ask yourself, are they falsely pumping up the stock market, so that investors might think that it must be safe to invest in stocks, even though we are still being told that the jobless situation is still continuing to get worse? Also, there are more and more people who are still going into foreclosure because the TARP program didn't really do anything for these people to stop it from happening to them. So, if the stock market loses points like it did today (-382) because of grim news in the economic sector, then how are they able to rally the next day, when the economic news is still grim?
Now, unless these investors are partially brain dead and or living in a fantasy world, this rallying thing is their way of saying to the common public investors, " come on, buy, buy, buy, it's a good time to buy, stocks are low, we think that we might have found a bottom ( chuckle, chuckle )"
Don't fall into their trap! You need to protect your money while you still can. Who knows what kind of hard ships tomorrow will bring. Nothing is going to change the situation that we are in now, aside from a miracle, so my advice to you is to save, save, save. Only buy the bare necessities. Food and your personal hygiene products: buy those empty plastic soap bottles and put half hand soap-half water in each, so that you can stretch your bottle of soap, shampoo, etc ... you get my drift. I also suggest that you buy a floor safe and bolt it to your floor, or get a sturdy lock box and lock that box in a safe place, oh, and make sure the safe or lock box is fire proof. With the way that the banks are going down one by one, even though they say that your money is secure even if the bank goes under, I would still be cautious because it can be a scary thing when more and more people will need to rely on the FDIC to come to the rescue, which may or may not have any funds left by the time they get to you. I for one do not use a bank anymore. I use to work for a bank over 4 years ago when times seemed normal. As time went on I decided not to use a bank, and I have been doing fine. No bank fees help a lot when times are tight. My next question is: " Why should you pay a fee when you withdraw your own money from an ATM machine?"
With that said, I would like to end this blog with a video, which I found to be interesting and an eye opener, which I am almost certain that you will too.
No comments:
Post a Comment