It’s actuallly very simple…get out of debt. Once you get out of debt stay out of debt. This goes for individuals, companies, municipalities, states, and countries. What I have seen over and over is credit is needed to finance everything..daily operations, payroll(?!?!?!?), etc etc. This is insane. My business is about 90% debt free however… Read more
Administration rushes to begin financial rescue – Economy in Turmoil- msnbc.com Paulson..the head of one of hte big five banks that no longer exist is now taked with trying to rescue the economy..oh this is going to be painful to watch considering how badly leveraged most american households(not this one though). Hang on folks. Thing… Read more
Banks, firms borrow record amount from Fed – Economy in Turmoil- msnbc.com let’s see that’s a total of 311.5 BILLION just this past week. That’s not including the 398 BILLION Bernake has pumped into domestic AND FOREIGN markets over the past couple of weeks. So far the gov’t has blown 794.5 BILLION between AIG and… Read more
Give me a break, a tax break — or else – Capitol Hill- msnbc.com This learnean hyrda of a disaster has just grown more heads. Read above. Folks we need to ge the house to stomp on this..once and for all. This bill further drives us into the entitlement culture and socialism. heck, even the… Read more
The Big Picture | We need to act quickly on the Bailout! Never mind the fact this “disaster” has been “looming” for a week. Where’s the huge crash? It’s going to happen bailout or no. Also 700 bilion is hte tip of hte iceberg. The fed has already spent 680 BILLION pumping non-existant cash into… Read more
The TRUTH About The Bailout – The Market Ticker It gets better folks. This is also going to include FOREIGN assests that have nothing to do with the US. Folks please get on the horn to the senate and house(senate.gov and house.gov) and REPEATEDLY tell your reps to kill this hydra!!!
Goodbye Ben – How Many in Congress Have a Pair? – The Market Ticker Congress needs to be told to stop and think about how bad this is..by YOU..more than once!!! Public outcry is loud but not enough to make congress listen unfortunately. Bernake is holding us hostage with this scare tactic and is deliberately… Read more
Ron Paul: This Bailout Won’t Be the Last – The Home Front (usnews.com) I am so glad this household runs on cash. It’s tough to be sure but we don’t ahve looming depbts over our heads we can’t pay either.
Fed rescues AIG, Barclays buys Lehman U.S. unit – Yahoo! News AIG will pay interest at a steep 8.5 percentage points above the three-month London Interbank Offered Rate, equal to about 11.4 percent. That gives AIG a big incentive to embark on a massive asset sale program to pay back the loan quickly. AIG’s bailout… Read more
Vox Popoli: AMF Vox day has this one nailed. This is the failure of the socialcrats and outright greed. this is not the failure of hte capitalistic market system. The gov’t should not have stepped into freddie, fanny, indymac, or BS. They should have all failed and brought risk back into this market. They have… Read more
The stock market is going up right now and projected to go higher. unfortunately they are ignoring the various warnings of a coming recession: 1: Oil is up to $70 a barrel 2: The subprime mortgage mess and the sudden halt of the real estate bubble. 3: Layoffs are starting up again 4: The overall… Read more
Nightmare Mortgages – Yahoo! News The average joe is going tog et hammered. Also any investors and sharholders are getting ripped off as well. Be expecting things to get ugly once this house of lies comes crashing down in terms of hte economy.
I see more and more folks jumping on the interest only loans scam. This is very dangerous. Sure your payments are lower…for 3-10 years..then you start paying off the principal as well..then you take a big hit. Since almost all of these interest only loans are adjustable if/when interest rates go up after your interest… Read more