FINALLY, someone in the Media gets it. MSNBC announced this morning a warning to Americans they must get out of debt now. I have been saying this for years as I watched a false economy suck people into Credit Card debt and refinance their homes to buy down the debt they had.
Credit Card Companies are pulling cards from customers all over the country and as one panelist said, she knew of perhaps 10 people, (and she travels the entire country speaking to thousands of people) who are not affected but that the rest of them could go bankrupt in no time at all.
The Stock Market is expected to lose in a massive way today proving the Bailout did NOTHING and when financial people get on television and warn everyone of a crash, it's over. The World economy is crashing along with America and like I said in the past, put your seat belts on Folks, things are about to get really bad.
Now don't come back here saying, oh, its MSNBC, who can believe them anyway. Look, all you have to do is use your head and watch what's going on and you can clearly see we're crashing. Too many Americans get a paycheck and simply think they're always going to have that paycheck, WRONG!
America isn't manufacturing any more and I just don't know where the new jobs are going to come from. After the scene with Congress yesterday with the three Auto Makers, they, (Congress) simply crushed them. Thank God, finally, Congress grew a pair and stood up to these Idiots who flew into Washington on their own private jets. Just don't expect your job or your partners job to be there in the next few months.
So what can you do to prepare for a Depression? PAY DOWN YOUR DEBT! Start preparing for the worst! STOP using Credit Cards, PERIOD! If you can't afford it with cash, DON'T BUY IT! The more you suck money from Credit Cards, the worse you're going to make it on the rest of Americans. That means you're going to make it tougher on your Mother, your children, your friends and family members. If you don't care, have at it.
I just can't understand why everyone didn't see this coming! Sadly, there's going to be a lot of spoiled brats out there who never went without. Some of us who have lived through the worst of times stayed conservative and have enough to survive. When I start hearing complaints because some woman can't go out and get her nails done, I'm going to freak out. DO IT YOUR DAMN SELF!
You've been warned on this Blog for years this was going to happen. Well, we're there. Watch what happens on the Stock Market today and you'll see just how bad our FALSE economy is and how bad it screwed us right into the ground. Oh, don't forget as well. Congress allowed interest rates to drop as low as they did, that's NOT an economy. Auto Makers offered 0% Interest Rates, that's NOT an economy. Credit Card Companies also offered 0% Interest Rates, that's NOT an economy. It's a SCAM to help people believe they can afford anything they want while purchasing things to keep manufacturers going and anyone with good sense knew this was coming. Good Luck to all of you because things are about to get really horrible in America.
I should add, look at our Post yesterday about the financial situation the City of Salisbury is now in. If you didn't see it, GO HERE. I don't know what it's going to take to wake some of you up but the facts are right in front of you. Open your eyes NOW and start being more responsible with your money, or what's left of it.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
16 comments:
Everyone should read “The Total Money Makeover” by Dave Ramsey. It’s a very motivating book with the goal of getting and staying out of debt.
Don't buy the book unless you can pay CASH for it.
Many of the reports that I have read over the last few months have been talking about the 'Hyper' Inflation that will be coming very shortly.
Which means a loaf of bread will cost about 25 bucks.
NOW is the time to buy canned goods with every extra penny you have and store up enough food for you and your family.
With the credit crisis the way it is grocery stores will no longer have the credit to buy the foods to put on their shelves just as the food manufacturers will not have the credit to buy their supplies to bring their products to market.
I know I will catch a lot of heat on this but don't say you weren't warned.
Dry Milk, Rice, Flour, Oats, Sugar,
the essentials.
It's some scary sh*t going on right now. It's the first time in my life I can really 'feel' the effects. Sucks.
Tell you what, Joe. You're not my Father, Mother or financial adviser. You can take your condescending tone and shove it. Judging by your business acumen, I'd flip a coin before I'd take advice from you. How's that empty building downtown working for you?
First of all, I retired at age 40. Secondly, I have many more buildings than just the Downtown building and they have never been for rent and that is of my own choosing. You should look up what I paid for my properties and figure out what they're worth. The first thing you'll see is that I have NO mortgages on everything I own. Suck on that one for a while.
You have the right to do whatever you like but thank you for proving there are robotic fols out there thinking everything will be ok.
Thanks for stopping by.
fools, sorry.
No mortgage. Just taxes. City taxes. Barrie wins!
How, exactly did you make all this money you constantly try to throw in everyone's face. (as if anyone else cares) Or did your father make it? What's up? If someone is giving advice, we are entitled to know if it is trustworthy.
While I just sat here typing away about my financial wealth I got all the way to the end and thought, who the hell are you and why am I telling you my life story.
Here's the bottom line young man. You do what yu want and follow the instructions of the Church if that's what satisfies you. There's abslutely nothing wrong with that. In the mean time, when I stated earlier I have NO mortgages and hold multiple properties not just in this area but around the country, that should have been enough. No matter what I tel you you'll keep coming back for more so you're on your own. Good luck to you.
Some think I'm crazy because I owe no one, don't own or desire to own a credit card, I don't spend frivolously, I pay as I go. I've always lived by "if you can't pay for it, you don't need it". I have been stockpiling for nearly two years, I grow most of what we eat and I make much of what we use. I don't follow trends nor do I make any attempt at keeping up with the Joneses or anyone else. When I leave a store, everything in the bags belongs to me, not me and the bank or credit card companies. If you were raised by parents that came through the first depression you would have been wise to listen to them and pay attention to what is going on around you. Some are very soon going to learn some very hard lessons. If you don't make some changes in your lifestyle, I feel for you. Many will soon learn how to stand on their own two feet financially, some will commit suicide, many will be going without. This thanksgiving everyone and I do mean everyone should be very thankful for what they have and hold on to it as long as they can. Make preparations for what is to come. Before anyone goes off half cocked, I am not an alarmist. I am a realist. The reality is hard times are coming. Be prepared.
Church? What's that got to do with you lecturing us on our finances?
I have several credit cards but I only use one. Actually, you only need one. I use it for most of my daily purchases. However, I pay if off every month. I would never imagine buying something that I could not pay off at the end of the month.
I sometimes watch the Suze Orman show on Saturday nights. I don't understand how anyone could be so stupid as to use credit cards ONLY because it is the only way they can get what they want. People aren't really that stupid, they just don't care and figure that someone else will deal with their debt.
I use my debit card as credit all the time to avoid the charges. I don't want a credit card, using the debit card as a credit card I still know I have to stay within my budget.
Bottom line, if you aren't as smart as Joe, and don't save your money then "to heck with you". Learn from smart people. Don't just keep on criticizing people who have made their money. Try to make your own. Stop spending money you don't have. That's the advice.
Right now everyone does need to be scrounging to save what they can no matter how much money you make.
Pauper
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