[i303]

Yep, the big party is over. Looks official. Now there is a huge mess to clean up.

Who's going to do it? Well I'm sure I've been tagged to be one of the first.

Now, now, before we all start saying "It's not my fault", which we know it wasn't, the whole world was invited and joined in.

We all know it's been something that's been going for years. C'mon, a house that once was 139K in San Diego, now is (or was) in the 600K range in 10 years.
Just for all who don't realize it yet, this is October 29, 1929 part deux.

All credit has stopped. NO MONEY!

If you have a job that depends on credit being passed, or work for a company that does, start looking for new ideas to shit money, or a new job.

Anyone that has a real skill, like carpentry, auto mechanics, electronic repair that may come in handy because what you have now is gonna have to last. Welders are always needed.

Now it isn't the end of the world. Those of us who remember the 70's and 80's remember some lean times. It's just that many have grown up in these 'party years' and they will be shocked the most. Raise your hand if you remember those days (or your dad) getting unemployment benefits (which are earned). Shit, my dad was born and grew up during the depression. Remember how popular baloney, or how about butter and sugar on bread. Remember government cheese? And wasn't baloney also included also?

Well slick Willie (key word-liberal) did wonders to drive this party, but Americans will be angry and they will vote on emotion and blame Bush and and and all republicans (key word-conservative), so I definitely now see Obama in the White House in '09, and after 4 more years of a Jimmy Carter like fialed economy, part deux, which bolstered social programs and not spur businesses, we should have a...who the fuck knows in '13. Any bets on unemployment rate for 2Q '09? Can we say 15%? The cool thing about it it looks as if Pelosi will take it in the ass for alot of the blame and Obama will pay for that coming high unemployment and raising taxes to compensate.

This is not a recession folks, this will be a depression. Global most likely.

If you've got money to invest look at what thrives in downturned economy.

No need to kill yourselves folks. I suggest laugh at it.

When life give you lemons, make Margarita's and sell them. People won't care at this point and Pelosi might be your biggests customer. I know that I could use one now.

 

[MrChem]

Let's add Phil Gramm to the list also. After sponsoring some questionable banking legislation he promptly retired and went to work for UBS...go figure. I am sure there will be plenty of blame to spread around before this is over. The only question is if we be around to pick up the pieces.

 

[MrSmitty]

I am one of the lucky ones in all of this as I am fairly young and work in the energy industry something we will always need. I will continue to buy stocks and this in the long run will be beneficial at least to myself. If Obama gets in we can definitely expect no progress to prosperity again for at least 4-5 years. I pray this doesn't affect our Election in Canada as all the leftist parties are all saying they will ban my guns and confiscate without compensation. From my cold dead fingers I say but I don't wish for it to come to that.

 

[MrChem]

I really don't think this will ever happen in Texas. I really think Texas would withdraw from the Union and revert back to being a republic if Washington tried to impose a gun ban. No joke.

 

[MrSmitty]

I would hope my province Alberta would do the same. We are the single richest province in Canada with huge surpluses every year and we contribute the most to the Canadian Economy. We are also the only province who is debt free with many billions saved in a Heritage fund for when times get tough which could be very soon.

 

[ny32182]

I think I'm also one of the luckier ones in this mess; first I live in an area where the real estate values had nowhere to fall anyway, and the house I bought this year was a foreclosure, so its value is going nowhere but up. Second, I am losing money in the market, yes, but I have many years ahead before retiring and I expect that long term, this will just be a buying opportunity. I also work for a company that is pretty stable now, and likely to thrive more as energy prices increase.

I think there is plenty of blame to go around; first we've got many many people out there who qualified for a loan yet couldn't do the basic 15 seconds worth of math to figure out they couldn't afford the payment. Then there are banks who's job it is to figure out if someone could afford the house they were buying, who failed at their job miserably. Then we've got these real estate speculators who were flipping houses/doubling their money every six months in these ridiculous FL and CA type markets. I feel the least sorry for these people... did they expect that insane growth rate to last forever? And lastly, I'm sure the government did their fair share of screwing up like usual.

I guess we're about to find out how deep the rabbit hole goes.

 

[aziator]

The Military is always hiring, especially now. They are giving waivers for everything. Nothing like a steady paycheck, free healthcare, clothes, food. Heck, they will even give you an M4 when they think you need it.

 

[yammajk]

Lucky for me I got through school and got a pharmacy degree...one thing people are always gonna need are drugs...even if the whole pharmacy world has turned into a big circus

Now if i can just get through this gunsmithing course...

 

[Bohemus]

Lucky for me I got through school and got a pharmacy degree...one thing people are always gonna need are drugs...even if the whole pharmacy world has turned into a big circus

Now if i can just get through this gunsmithing course...

+1 on the drugs buddy. My knees are doing just fine thanks to those little green pills!