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November 20, 2008


This financial crisis had its origins long before Bush, Barney Frank, Chris Dodd, Cox or even Greenspan had any power or appeared on the scene and it is the result of the mass consciousness perception that debt and leverage are the way to run an economy and your life.

What? The real estate market was going to keep producing double digit returns forever? The median house value in the U.S in 2020 was going to be 4.75 million? It had to end one day. Everybody could feel it coming, a few saw it coming, but only a few acted on it.

The next debacle will be the commercial mortgage backed securities meltdown and then credit card debt defaults and auto loan defaults.

I think this is the beginning of the Greatest Depression and we ain't seen nothin' yet.

Get ready.

In my profession, much time is spent alone, working in farmers fields across the PNW.
I take a small "boom box" and listen to the radio for company.
On the weekends, there are a few talk shows about financial issues that have been belly laughing, "You depression era mentality fools that have paid off your mortgage and had the mortgage burning party; HEE-HEE-HAW-HAW!!!!"
"You need to mortgage that house to 125% and put it all in stocks, Blah Blah Blah..."
I always have given the radio the finger at that point.
You sure don't hear that TERRIBLE ADVICE lately.


"Well you can't eat your house!" is one unbelievably lame comments I have heard on those "wealth" shows.
Guess what? You cant sleep in a Big Mac either, knuckleheads!!!
Oh, and they also push the listener to go out and drop a couple of grand for a financial plan.
Give me a second here.....
.....sorry! I was just moved to give my radio the finger again.
If things go as bad as you and I are thinking Brian, all of those financial planners will be out of work and crawling up our drives begging for food.
I may be a Dumb-ocrat (not for long) but I sure treasure the conservative, depression-era mentality that has served me VERY WELL!

>>>I think this is the beginning of the Greatest Depression and we ain't seen nothin' yet.<<<

Agreed. And how much importance will we place at that time on global warming, welfare, No logging, fishing, mining, hunting, drilling, firewood burning?

Heres' two options for the Ultra Ultra Ultra Ultra Liberals:
Embrace reality now, or reality will embrace you all the hard way.

We have to remember that neither political party as such got us here. It took them both and us combined. It's a lot of people who thought we could have retirements that would be filled with the same thing as working years. The stock market would deliver and a rate of return of 7% was considered to be reasonable and not greedy while many expected 20% which they got for awhile-- or so they thought. One thing Obama has said all along is that it won't be easy fixing this and that was before the latest failings. All those people who said he promised pie in the sky were thinking of McCain who said he could solve it all with more tax decreases. We are on a dual path of trouble because the government is in as much trouble as we are with the deficit spending.

Being 65, I grew up through several recessions and times that my father was either on strike or laid off. I have always seen being careful with a buck to be good and still can't get to where $20 isn't something to think before spending on anything. Times have been better and times worse but if people think thrifty through them all, don't expect too much, we will come through this. I have never seen a depression but might well although I doubt it'll be as bad as the Great Depression unless our government totally fails. Social Security, which so many Republicans would have liked to end, will give money out there for the basics which will keep many businesses going if not as well funded as they would have liked. I do not think we have seen the worse yet.

I just hope that the Democrats stick to their guns on the auto manufacturers. Come with a plan. Tell them and us the people what will change anything with this bailout, and don't do like Paulson just did with throwing money at a problem and hoping some sticks somewhere. I am sure some did and some who got it are enjoying their winter vacations in the Bahamas just fine...

Update: gosh, who knew? It turns out that atheists are responsible for the financial meltdown. If I'd known that before, I would have started going to church. I'd be happy to sleep through the sermon if I could have my lost money back. See:

Coming from the WSJ, that article made perfect sense. No Christian would be wasteful of money, and the most secular holiday of the year naturally threatens the spirit of Christ... Their world is getting kookier and kookier.

You have to listen to the right people.


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