bill,

No question. ns

"A democracy cannot exist as a permanent form of government. It can exist only until the voters discover they can vote themselves largesse (defined as a liberal gift) out of the public treasury. From that moment on, the majority always votes for the candidate promising the most benefits from the public treasury, with the result that democracy always collapses over a loose fiscal policy, always to be followed by a dictatorship."

"Why can't I just eat my waffle?" -- Obama

http://obamawaffles.com/

I am supporting my son his wife and daughter as he attends a trade school. I have been forced to remove money from my IRA account. I have been frugal most of my life and I would like to struggle through with ME, not the government,  making the decision about what I must cash in or liquidate to get by. The government will always get their blood money--I just want to have the opportunity to make decisions about when and how much I cash in to maintain my situation.

And , Oh yes--what the hell is wrong with America that they cannot see through the talking suit named Obama???? I am losing faith in my fellow Amnericans that they would even allow this hypocrite to run for the presidency. He will never be my president.

The Great Depression and the current problems have similar causes, namely humongous credit bubbles.  After the Great Depression, various mechanisms were instituted to keep it from reoccuring.  But since the early 1990's, people have been circumventing the system mostly through complex schemes of securitization (i.e. credit derivatives) CDOs, CDSs, and other securities designed to obsfucate and shift risk.  The policies of Hoover and FDR likely extended the depression, but they weren't the cause.

Thanks for asking!   ;^)

Seriously, you have a valid point. I don't doubt that the FM debacle is a big problem, but I wouldn't discount the idea that the constant "doom-beat" on the economy from the left helped us past the tipping-point. I've told a lot of people that "confidence" is a major part of the economy.

Hell, even POS Barney Frank, in fighting housing market controls in the past, has claimed that saying there was a problem was more of a problem than the problem.

I only quote that worm to show that even an idiot can realize that fact.

"... smells like.... victory." - Robert Duvall, Apocalypse Now

Usher in socialism. Voters say 'go for it.'

Talk about being in the right place at the right time.

Arnold, begin preparing your state for the flood of Okies. Illegals, we'll be needing those jobs back now. Vaya Con Dios.

I don't know what's going on. Everyone seems to be in major panic mode lately. Last night, it was the debate. Immediately afterwards, people were talking about leaving the country, stocking up for disaster, all of that. And the economy has been a particular grieve-fest for a couple weeks now.

I don't get it. Not a big financier, and I'm sure we could be in trouble, but I'm not feeling that I may as well put a gun to my head. No one jumping out windows quite yet, is there?

In answer to your question, I can move my funds, too. I'm mostly in mutuals and MM. So, I just leave it up to the managers, that's what they do. I'm about a dozen years from retirement, so I can ride out almost anything, I think. Those with IRAs that mandate withdrawals and taxes or something (not clear on that, but have heard some complaints) may be in a different boat.

To me, though, a lot of this sounds like the panic that all the talk of a "recession" by the left was meant to cause. Not saying there's nothing to it, but I think there's a lot of over-reaction going on.

I just don't believe "we're doomed." Not quite yet.

"... smells like.... victory." - Robert Duvall, Apocalypse Now

You are correct to sound the alarm over a NEW entitlement program the Dems have offered as their vote buying scheme.  The problem is the Dems have been very successful in packing the country with illegals who can't pay the hospital bill leaving all of us collectively to pay those bills in higher insurance costs. 13 million low wage workers don't have the money to pay a hospital bill, so what's Obama's solution: Create a new government program with a bureaucracy to start a government sponsored health insurance company who has a direct line to the Treasury, i.e. the taxpayer's wallets.  They created the issue to solve it.  Kick out the illegals and the cost of medical care will drop.  This is no different than with theft in retailing, you pay about 5% premium in the purchase price because of shoplifting.  We the public are forced to subsidize the theft by others.  Someone has to pay and a business can't stay in operation not making a profit, so guess who gets to pay?  Those who supposedly can afford it.

Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.

Gas is down to about $3.30 here (NW Indiana), and has been dropping like a rock. 4-6 and more cents a day, sometimes twice a day. Down about $0.55/gal in the last week or so.

"Please, sir, may I have some more?"

"... smells like.... victory." - Robert Duvall, Apocalypse Now

Oil is only one piece of the puzzle.  The real cause is the bursting of a world-wide credit bubble.  My guess is that this will take quite a while to fix.  But your right about one thing, there will be panic that will only make things worse.  And I would expect some hoarding this year, to the extent that people are able given huge personal debt and the falling value of assets (home equity, investments, etc.)

They just updated the page, gasoline consumption nationally is down 5.5% from last year at this time.  The rate of reduction is still very steep per the graph.  Once you see the turn on the graph indicating an uptick in consumption at that point you will know the economic recovery has begun.  If you look to the top of the page notice the average price of gasoline for the US, still 71 cents per gallon higher than last year at this time. 

Look at this page: http://tonto.eia.doe.gov/dnav/pet/hist/mg_rt_usw.htm Notice the fluctuation of price around $2.50/gallon in 2006, that is where I believe the wheels started falling off the wagon.

Now use this page from the BLS to see the employment picture of that time period. http://www.bls.gov/webapps/legacy/cpsatab1.htm

check the seasonally adjusted employment and unemployment, then click the retrieve data button.  To make it easier to see, check the box at the top of the page where it says include graphs then click GO. 

Notice when the # of employed leveled off?  January 2007 

Notice when the # of unemployed started rising? January 2007 

So the burning question is for Nancy Pelosi, Harry Reid and their underling, Barack Obama, why didn't you keep the 2006 promise to lower the price of gasoline?  You had in your power to do so by lifting the drilling ban when you saw the level of unemployment rising precisely when you took control of Congress in January 2007.   You broke your promise just like you did every last one of the other promises during that campaign.  Barack Obama approved of their strategy by voting for it.  Hold him accountable.

If the McCain campaign is too dense to make the connection and hold Democrats accountable for their broken promises, he deserves to lose.  There is a reason why Obama is running against George Bush's record, it's called Projection, Obama is accusing Bush to cover up the failures of the Democrat lead Congress with whom he walked in lock step.  The economy was recovering fine for most of the 6 years from the 911 attacks and Dot com bust. Then came Nancy and Harry running Congress.  How is that working out for us?

Nancy Pelosi and Harry Reid, starving the poor one gallon of ethanol at a time. Fill your tank with E85 and cull a village.

Should be interesting.

Here is the latest on Corsi from WND, as he has been in contact with them.

Interesting stuff.

I would like to think the Bush State Department is....oh, nevermind!

It actually sickens me to think that the voters of this nation are about to put that Marxist puke that is Obama in the White House. 

-Dave

If this nation is to be saved, umm, oh, nevermind! We're glued, screwed and tattooed!

Pelosi does not want this to come out! 

If conservatives are RIGHT, then liberals must be WRONG.