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Curt
Joined: Eons Ago
# Posts: 3747
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Posted: 2008-Sep-26 23:58
Gas pricing is crazy. Obama, Palin, McCain... need I say more on that? Gas shortages in south because of hurricane ike. Energy problems in general. Islamists actively attempting to control europe, asia, and wanting to conquer USA. Serious mexican/USA border problems with drug lords and huge increase in border crimes in general. Housing loan defaults and people losing their houses. Some of the worst unemployment in a long time. Russia invades Georgia. Huge-huge national USA debt. Fannie Mae (almost bankrupt), Freddie Mac (almost bankrupt), Merryl Linch (would have went bankrupt had they not been bought-out), Lehman Brothers (bankrupt), AIG insurance (almost bankrupt), and now the largest financial corp Washington Mutual (bankrupt). China now does not want to loan USA more money because USA credit is looking bad. Russian stock market crash happening at this very moment... and more events unfolding this year... all of this happening in 2008 all at once.
Does it scare you?
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Curt
Joined: Eons Ago
# Posts: 3747
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Posted: 2008-Sep-27 00:04
ABOUT Washington Mutual:WaMu was victimized by a classic "run on the bank." Customers withdrew $16.7 billion in a 10-day period following the bankruptcy of Lehman Brothers, leaving WaMu "with insufficient liquidity to meet its obligations," its regulators determined.
A longer explanation is WaMu was victimized by mismanagement and misguided bets on exotic (and toxic) instruments such as option adjustable-rate mortgages.--see more info here
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animated3d
Joined: Dec 22, 2005
# Posts: 444
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Posted: 2008-Sep-27 01:42
yep its pretty scary but this happens when people choose a bad gov.I withdrew my cash from WAMU too just to be safe "Islamists actively attempting to control europe" now thats something i never heard anything about before.
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mj1256
Staff
Joined: Jun 05, 2006
# Posts: 981
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Posted: 2008-Sep-27 01:50
animated3d, its become a big issue in britain and france. its even possible that in some european countries they will be the majority
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mj1256
Staff
Joined: Jun 05, 2006
# Posts: 981
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Posted: 2008-Sep-27 01:57
curt, if china calls in it sloans, or stops servicing our debt, we are done
the sad part is that this has happened over and over again in history, the crash of the 1820's, the 1870's and then the robber barrons (railroad tycoons), the the 1920' 1930's and then just reccessions. we have been spoiled and duped into a false sence if security as we have just experienced the longest period of prosperity in the history of man.
but it was all artificial. everything was planned and now this is happening and bursting the secure bubble of wealth and prosperity that we had.
now we need to let the economy and the market fall so it can adjust itself. it will be painful, and many peeple win win, and many people will lose 
Catherine Austin Fitts, a popular fringe economist says to look at it this way...
"the morning after the collapse, someone will wake up and need breakfast, and someone will be willing to make it for him, and he will get compensated, and the whole economy will start again"
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SportsGuy
Staff
Joined: Aug 30, 2002
# Posts: 3603
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Posted: 2008-Sep-27 23:29
...and yet I still plan to move to the USA...
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ClickIt
Joined: Jul 31, 2000
# Posts: 746
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Posted: 2008-Sep-28 01:33
Animated, WaMu was (PJMorgan Chase still is) insured by the FDIC. That is, you individual accounts are guaranteed by the US Gov. for up to $100,000. Even if WaMu goes belly up, your money is/was safe. Panic withdrawal only helped to weaken WaMu, but makes you no safer at all.
As for WaMu, they bought Country Wide mortgage at the top of the bubble. And Country Wide was well known for making huge numbers of sub-prime mortgages. It is no surprise at all that WaMu ran into trouble. On the other hand, one might see it as WaMu was acting as markets should - one strong firm buying out a weak firm and trying to correct the sins of the weak firm, before it went belly up. Nice try WaMu.
But now JPMorgan gets to try the same trick with WaMu. Go JPM!
Gas and oil are fungible commodities. The market pays what the market will pay. That's how the entire market is deliberately set up! The market is doing exactly what it is designed to do.
Talk about "excessive profit" oil company is ridiculous. The public oil companies are REQUIRED to make as much profit as possible. That's how our system is set up. Quite griping and go buy oil company stocks fer Petes' sake.
It is not a problem with the US/Mexican border per se. Rather, there is a huge ongoing problem with Mexico being a corrupt, largely unfair, somewhat lawless (or non-functioning law system) country. That said, Mexico still has enormous natural resources, wonderful culture, vast opportunity and huge potential.
It is time for Mexico to have itself a good revolution and claw it's way up to having a basically sound, lawful, fair and non corrupt government. If they can pull that off, Mexico can do very very well - and eliminate the need for 10% of it's population to make the reasonable decision to become fugitives in the US in order to live a better life. Let's face it, the dumb, lame and lazy part of the population doesn't attempt to cross a hostile deadly desert - turning themselves into illegal aliens. The dumb ones stay at home and wait for the smart hardworking family members (now fugitives in the US) to send home money. This is ridiculous. Mexico NEEDS a revolution.
Further, don't trot out the tripe about "Americans wont do the jobs the illegal aliens do." That's bunk. Have you ever been to New Hampshire? Google the numbers on the minority population in NH. The US has plenty of poor citizens who will - and do - the undesirable jobs in this country. We don't need to import poor people to do the scut work.
I could go on, but I think what I've written so far will be enough to keep this conversation going for a bit.
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animated3d
Joined: Dec 22, 2005
# Posts: 444
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Posted: 2008-Sep-28 04:52
"Further, don't trot out the tripe about "Americans wont do the jobs the illegal aliens do." That's bunk. Have you ever been to New Hampshire? Google the numbers on the minority population in NH. The US has plenty of poor citizens who will - and do - the undesirable jobs in this country. We don't need to import poor people to do the scut work"
thats correct but in my opinion those illegal workers are still more beneficial in the eyes of many who wanna hire cheap labor for lower cost, as an american worker you are entitled to some rights,which would scare some bosses but the ones who give the jobs to immigrants dont worry about this issue because they know the poor worker cant complain, he/she needs the job, and sometimes its not about if an american citizen is willing to do the job but also how much their salary and working conditions would be and yes there is alot if corruption going on in mexico,specially with the federal agencies and etc... i was reading recently how some mexican federal authority figures were applying to usa as political refugees, because they fear for their life, the cartels own the country if you cant be bribed they kill you thats how it runs there SCARY :O
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Curt
Joined: Eons Ago
# Posts: 3747
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Posted: 2008-Sep-28 11:24
The gas problem could have been fixed if the car makers would have focused on developing and selling hybrid plugin electric cars way before now and making them so that they were powerful and quick. People would have bought them. But no, they decided they wanted to milk the gas engine technology for as long as they could and now we have this crap going on with gas.
With all this financial woe going on, I'm thinking it's ripe time for the Islamic radicals to pull another huge terrorist attack. Think back in 2001, the market was going through the dotcom bust and the economy wasn't looking very good at that time and that's when the terrorists hit. Now we have a similar scenario only worse. The Islamists already think that Allah is punishing the USA which could provoke them to action now.
We are going to see some surprising stuff result from the religion thing--wait and see... something real big will happen with religion in the near future.
curt, if china calls in it sloans, or stops servicing our debt, we are done
Yep, that would help strain the USA quite a bit.
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Hampstead
Joined: Feb 20, 2001
# Posts: 2061
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Posted: 2008-Sep-28 11:28
It now costs me £135.00 to fill up locally ($250.00 USD)
I get about 350 miles out of that.
My own fault for driving a Range Rover I guess.
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g1smd
Staff
Joined: Jul 28, 2002
# Posts: 10465
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Posted: 2008-Sep-28 12:27
*** The gas problem could have been fixed if the car makers would have focused on developing and selling hybrid plugin electric cars way before now and making them so that they were powerful and quick. ***
Umm. The technology *was* developed, but very big oil companies bought out the companies and closed the projects down.
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ClickIt
Joined: Jul 31, 2000
# Posts: 746
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Posted: 2008-Sep-28 19:35
g1, will you point us to some examples of the technology that the big oil companies bought out? I'm not kidding, I'd like to learn more about it. Thanks. (EV1 we already know about. What else is/was out there?)
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g1smd
Staff
Joined: Jul 28, 2002
# Posts: 10465
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Posted: 2008-Sep-28 20:50
Err, I was just a kid in the mid 1970s when that stuff was going on, so I couldn't tell you any names.
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animated3d
Joined: Dec 22, 2005
# Posts: 444
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Posted: 2008-Sep-28 22:28
most of the worlds problems will be gone when we dont need oil as the main source of energy anymore
"My own fault for driving a Range Rover I guess."
if gas here in usa goes over 4 dollars thats when the people start to raise hell:P but then the paths here are longer then there in europe, me too i used to love my cherokee but i am thinking now to get a less show off car with a great gas/milaege.The hybrids arent worth the mney yet in my opinion
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JQ
Staff
Joined: Mar 11, 2001
# Posts: 2765
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Posted: 2008-Sep-29 03:24
Yes, it's all starting to scare me a lot.
But I blame greed from all sides. The banks issued sub-prime loans to people really not qualified to take on that much debt but it makes them money. People want to buy a house, thinking sure, when the ARM gets hiked, I'll be better off, so it'll all be fine.
Then there's overspending in general. Advertising/marketing tells us we need this, that and 10 other things we can't afford, but hey, just put it on your credit card since you only have to make a minimum payment (while the cc companies make a fortune on the interest charged). Then again, you can always play the credit game... open a new card and transfer your balance interest free for a few months, then do it all over again.
Why is it 3/4 of the vehicles on the road in L.A. these days are SUV's with no passengers, just a driver? And why are so many SUV drivers so rude? We were returning from visiting someone at the hospital the other day and there was a rear-ender accident ahead of me in my lane. I put on my signal and started to move to the next lane to get around it when the SUV in that lane sped up to cut me off, as if to say "You ain't getting in front of me, and I'm bigger than you so don't even try!" Sure, you beat me to the red light ahead, but I was right behind you, so what did you gain by that little show of display and being rude? Whatever happened to being courteous?
I'm 55 and I guess I was just brought up different than a lot of people today. When I grew up, you never bought something you couldn't afford. You saved up for it, and then it meant more when you finally bought it, as opposed to buying on credit and by the time it's paid off, you need a new one anyway.
There's this old concept of karma, what goes around comes around. Be nice to people and they'll be nice to you. I try to be nice to everyone on the road, but it seems a lot of people out there are just plain jerks.
<sigh>
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Hampstead
Joined: Feb 20, 2001
# Posts: 2061
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Posted: 2008-Sep-29 08:54
Post removed.
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Curt
Joined: Eons Ago
# Posts: 3747
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Posted: 2008-Sep-30 09:52
Wow Hampstead! $250 a fill-up! That is crazy. That's well over $1,000 per month in fuel and as much as what a cheaper mortgage is. OUCH.
g1smd said:
Umm. The technology *was* developed, but very big oil companies bought out the companies and closed the projects down.
That does not surprise me in the least. Yep, I've known for some time now that efficient tech existed but was suppressed. It's been suppressed over and over by big business. Just look what the big 3 auto makers did to Tucker automotive back in the late 40's.
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Curt
Joined: Eons Ago
# Posts: 3747
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Posted: 2008-Sep-30 10:06
JQ, the current generation is accustomed to buying on credit and lots of it. We are trained this way, not me specifically, but many other people.
People who did the subprime variable rate loans got those loans on houses they could never afford under a regular 30 yr. fixed loan. The initial payments were cheap, but were destined to go up. Buyers were greedy and of course the banks were greedy too. Banks figured that if the person defaulted they'd foreclose on the houses and sell them without losing while making money on the interest charged. Only thing, housing prices tanked fast and I'm thinking the banks didn't quite count on that happening.
We live in an instant society, but there is a price to be paid for that attitude and now we are paying. Those of us that are responsible will be hurt by the rest who are sloppy, greedy and can't wait for anything.
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g1smd
Staff
Joined: Jul 28, 2002
# Posts: 10465
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Posted: 2008-Sep-30 10:24
One of the biggest problems is over-population... something that nature always seeks to compensate for.
Anyone here think this is not a problem:
http://images.google.com/images?q=world+population+growth
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mj1256
Staff
Joined: Jun 05, 2006
# Posts: 981
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Posted: 2008-Sep-30 19:03
We have bigger things to be scared of...
The aliens are landing on Oct 14 in Alabama:
http://www.int.iol.co.za/index.php?art_id=vn20080928093020423C422115
[ Message was edited by: JimBot 10/06/2008 02:19 am ... Reason: Removed redundant click_id and set_id parameters from UR ]
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