VERY interesting article on personal economics, how to survive the coming depression

[Bill]

Since I got my house long ago, the housing stuff doesn't apply to me.

But I thought this was one of the most interesting article's I read on how to deal with the next few years.

I recommend going to the link and reading the whole thing - you won't regret the time, and the ideas may help someone you know.

I don't agree with it all, but I'm thinking about it all.

Here's some sample snippets:

http://www.politicalgateway.com/news/read/140497

How to survive the Great Depression of 2008 - 2009

Plan for your bankruptcy- Don’t go nuts on your credit cards, but use them up if you cannot pay them. Do not go bankrupt until the month your house is going to foreclosure sale. This will give you an additional three months. Even more if you can work something out with the attorney to delay the proceedings. That is at least 3 more months of living free. Watch excessive spening on cards or huge items going back 12 months before bankruptcy. Hide your cash.

This is especially important if you lost your job. The bank will not go under if you do not pay them, but your family will starve if you feel honor bound to pay the crooks, I mean lenders and credit card companies, til you are really broke and destitute.

Learn how to send cease and desist orders to creditors you are going to bankrupt so they leave you alone.

Realize you are talking about surviving here. You need your car and a roof over your head. You need money to live and eat for you and your family. Don’t worry about breaking the hearts of the crooks that made this mess or the credit card companies (read: loan sharks.) Worry about you.

Feel bad, like you are using the system? These scumbags have received 100s of billions of dollars of our taxpayers money for being crooks. And the CEOs made millions more. So, F#ck em, burn em back. Worry about you and your family not some billionaire. They borrowed the money to lend to you. They got it at 0.25% interest (that is a quarter point) and sold it to you on some screwed up plan that is going up to 8% or more. They will (and are) being bailed out by our loving congress and the lender still made tons on the interest they earned from you over a few years.

After your bankruptcy move into a nice rental and relax. You should have little or no debt. If you still have your job you may be on a small repayment plan, but you will be fine.

Predictions for the next 12 months –

-Home prices will flip around but continue down. Drastic drop when the Dem president takes over in January (you will almost think it was timed).

- After the Dems take the whitehouse the supports trying to hold up the economy will finally buckle. It's not personal, its politics. Perfect planning to ensure a Republican ticket win in 2012. Look for 2009 to be a bad year financially. Gotta love top level political strategy.

-Prices on condos will drop and be close to 2002/3 levels on their way down to 2001 levels. Many small condo complexes will be bought as apartments or most likely timeshares.

-Home prices will fall and keep falling, then stagnate for at least 4 years. Bargain hunting time (in about 2 years). Loans will suck as 7% will be the new ‘good fixed rate.’ But your total debt will be a few hundred thousand less if you buy during the stagnate period.

-A whole bunch of fake baloney will happen on capitol hill regarding the lending industry but nothing will happen, other than your taxpayer money making sure the lenders did not lose a penny.

-All those bankrupt sub prime lenders? Wow, hey, they all started new companies. Wow, amazing how that worked out. Look for that beginning next year.

-Wall street and major news outlets will continue to talk about ‘downturns’ and other things to make you feel rosey. That is mostly to suck the money out of those people who can still be gullible enough to fall for it. Remember who they work for. It ain't you.

- Gold, silver, and Oil will bankrupt many as it drops to the floor, bringing dumb investors to their knees. Oh yea, oil is gonna go to two hundred you say. Hey, it is your money, go ahead and gamble it like a moron. It will start dropping back down on its way to 34 bucks a barrel by year's end (it will eventually get to 34, not at years end, but heading towards it on its way down.) As for gold and silver, if you buy it now you are really stupid.

Don’t believe any of this? Look me up next year. You did not believe me in 2004/2005 either.

- Iraq - Now that the 'nuclear peace' is over, things are going back to the way they were (and have always been) pre- 1945. Big countries make puppets of little countries. Iraq no longer exists. Many dictators want it for different reasons. Saudis want a buffer state, or part of one, to make sure Iran is not their next door neighbor. Syria and the other little countries want a spot at the table and part of the spoils. Iran wants a piece of the action and will be part of the political process (read: puppet) in Iraq. America will not leave Iraq, America will have a small 'American Iraq' in there somewhere. Iraq as a country on the world stage is over. And it will be a long time before it will really be one again, if ever. The question is, which country will it be a part of in 2020? Or will it be split into other countries? No matter which it is, the war in Iraq is over Iraq and nothing else. Greedy dictators are wringing their hands with excitement over owning something new.

[Smurf-Herder]

Oil heading to $34 a barrel by the end of this year? What would make that happen so fast?

Wait a minute here. How could there be a depression if oil goes down that low? Wouldn't lower fuel, transportation and production costs bring different business sectors back to normal; and bring prices of everything back down?

BTW, if you bought Gold in 2004, you'd have doubled your investment this year.

[Bill]

Yeah, I had that same reaction - altho I know he's not the only person that thinks that, since I've been studying oil for many many years, I happen to think he's entirely wrong on that.

But, it would be nice. I wouldn't mind being wrong, and being able to live out my golden years on cheap oil.

The gold and silver thing is a bit more complex - I think it's possible it will go down, but, that much?

If it does go down that much, I'll buy as much as I can. I won't buy it now, because there is too much of a chance of a drop - during which I plan to snap some up.

I also thought it was silly that he was using the word depression, but his advice premises that the individual still has a job to afford rent. A misuse of terms - he's describing behavior in a recession.

[Smurf-Herder]

Originally Posted by Bill

Yeah, I had that same reaction - altho I know he's not the only person that thinks that, since I've been studying oil for many many years, I happen to think he's entirely wrong on that.

But, it would be nice. I wouldn't mind being wrong, and being able to live out my golden years on cheap oil.

The gold and silver thing is a bit more complex - I think it's possible it will go down, but, that much?

If it does go down that much, I'll buy as much as I can. I won't buy it now, because there is too much of a chance of a drop - during which I plan to snap some up.

I also thought it was silly that he was using the word depression, but his advice premises that the individual still has a job to afford rent. A misuse of terms - he's describing behavior in a recession.

I could see oil coming down a bit, if supply was dramatically increased. But considering a lot involves speculators, anything could happen. And the trend is up, with increasing worry about the security of the middle east region.

The Gold price could be artificially high, with some countries like Russia having started hoarding it a while back. Similar to the Hunt Brothers in the early 80s with Silver. The thing about Gold is, it has it's own "real" value, as opposed to paper notes. If money becomes worthless (if things get that bad), a commodity like Gold can still leave you the ability to survive.

I do believe there is a chance we could experience a depression. But I don't see it happening for only a year or two, if it does. Especially nowadays, when everything is so interconnected. If the US goes into a true depression, I feel the influence of it will have a global impact.

Although, that could be the plan of the powers that be. To establish a New Order, through the back door.

[Cat slave]

But of course.

[SirMoby]

Originally Posted by Smurf-Herder

with increasing worry about the security of the middle east region.

That's exactly why all the sabre rattling over there. Every time the administration calls Iran evil the price goes up. Every time Ahmadinejad talks about nukes the price goes up. Bush and Ahmadinejad have been pushing the price of oil up for years now.

Originally Posted by Smurf-Herder

Although, that could be the plan of the powers that be. To establish a New Order, through the back door.

So you have been the white papers from Bush's handlers (The PNAC).

[disrupter]

Cynicism is as dumb as blind optimism,

Reality NEVER makes it that easy for you.

You have to sift through a mountain of chaos, hoping to find a few delicate threads to follow.

I am sure bits & pieces of his ideas may work, but probably only if very carefully done. If you research it carefully enough to do it correctly i suppose you could easily rationalize that you 'earned' it.

We have to create a 3D world from 2D blueprints.
Not sure how that gets done, but that is the mission.
Probably gonna be messy.
No 'guarantees'.

[kres24GT]

I'd arm yourself to teeth, when the bottom falls out of this thing it's going to be bad.

[bigfootzx]

Hoffman's right, oil prices are artifically manipulated today just ask Dick Cheney and his Halliburton buddies who love to trade oil contracts into infinity. We'll never see $34 a barrel but we will see investigations into speculators and false research aimed at keeping the bubble going.

[Bill]

These were some of the statements that I thought might accurately describe the near future.

And was very relevant to the life of the average american.

-Home prices will flip around but continue down. Drastic drop when the Dem president takes over in January (you will almost think it was timed).

- After the Dems take the whitehouse the supports trying to hold up the economy will finally buckle. It's not personal, its politics. Perfect planning to ensure a Republican ticket win in 2012. Look for 2009 to be a bad year financially. Gotta love top level political strategy.

-Home prices will fall and keep falling, then stagnate for at least 4 years. Bargain hunting time (in about 2 years). Loans will suck as 7% will be the new ‘good fixed rate.’ But your total debt will be a few hundred thousand less if you buy during the stagnate period.

-A whole bunch of fake baloney will happen on capitol hill regarding the lending industry but nothing will happen, other than your taxpayer money making sure the lenders did not lose a penny.

-All those bankrupt sub prime lenders? Wow, hey, they all started new companies. Wow, amazing how that worked out. Look for that beginning next year.

-Wall street and major news outlets will continue to talk about ‘downturns’ and other things to make you feel rosey. That is mostly to suck the money out of those people who can still be gullible enough to fall for it. Remember who they work for. It ain't you.