The Coming Economic Collapse

As we teeter at the brink of economic disaster here in the US, how are you preparing? What steps are you taking to protect you assets?

Bwaack!

I wouldn’t worry too much - when the “Amero” comes in, it will leave the Chinese holding the dollars that will be worthless. All debt cancelled.

Everything is going to be fine… I can feel it.

Hopefully 2009 will pick itself up - we’re all dead in 2012 anyway - why worry?

“America this week faces an historic crisis in our financial system. We must pass legislation to address this crisis. If we do not, credit will dry up, with devastating consequences for our economy. People will no longer be able to buy homes and their life savings will be at stake. Businesses will not have enough money to pay their employees. If we do not act, ever corner of our country will be impacted.”

How much of your money in a bank is state guaranteed in the case of your Bank going bang…?

Up to last week we were guaranteed up to only €20,000 in the case of a bank collapsing, but due to everyone withdrawing their savings for fear of a bank going bust in the last week, the government have now revised that and raised it to €100,000 guaranteed.

I have decided to load the pistols, pour a stiff drink…and panic.

Over the years I have learned first hand than when i can do absolutely nothing at all to prevent or accelerate a situation…that is to say when I am certain I can do nothing to either improve nor worsen the deal…panic seems to give me peace.

Ironic huh.

If the legislation is passed, don’t you think there will be major implications like the continuing collapse of the American Dollar, inflation and the huge debt?

Absolutely, it’s a lose, lose deal.

Typically $100,000 per depositor, per FDIC insured bank:

The Federal Deposit Insurance Corporation (FDIC) is an independent federal agency created in 1933 to promote public confidence and stability in the nation’s banking system.

Don’t worry. George has another war planned for ya’ll. What does war create? - economy. And if he thinks it ain’t gonna happen - then he can always cancel the election - amendment 51. Any one that argues with the state is a terrorist anyway - you gave up your rights with the “patriot” act. The UK did exactly the same.

By the way - if the war does go ahead & nuclear warheads start going up - I’ll probably die as well - Israel isn’t that far away - we’ll probably get the fall out.

You all are too Doom & Gloom for me. Look on the bright side. Most of us here are doing quite well providing a service to people. A service that isn’t truly necessary to run a business (for most). I guess what I’m saying here is “the economy will fix itself soon enough” If Barrack Osama gets elected, things will change. Same for McCain. Something is bound to change. Everyone fears change for the most part. Change is essential for life to continue!:smiley:

If all else fails, I got a Ski mask and a shotgun…still in business :smiley:

The whole bail-out package seems to be predicated on the idea of “trickle down economics” basically keep the top echelon in money and it will work its way down ,Now, I clean windows for a living and can’t say as I know a whole lot about economics, but if this whole problem is because of sub-prime mortgages, where the bottom of the ladder can’t afford to pay its debts to the top of the ladder, It would seem that bailing out the borrowers so the can pay their debts or “trickle up economics” would work better
But , then what do I know, I made the mistake of buying a house I could afford and make the payments every month, No free moolah for me:mad:

I got a extra mask and shotgun for ya man.

Cool, Which one of the dead presidents do I get to be

Many predict that McCain will be the next dead president.

I don’t know, but I’m Nixon…
Who do you want?