Check out his assessment of our economic mess. And remember: he’s an economics hotshot whereas I’m just a computer guy who dabbles in economics on the side.
Check out his assessment of our economic mess. And remember: he’s an economics hotshot whereas I’m just a computer guy who dabbles in economics on the side.
Im just having a hard time panicing over this. I have a good job in a solid industry (PM for HP). I am debt free except my house (30 year fixed at 6%), tieth 10% and put another 15% away for retirement per month.
I know some banks are going to close and some friends of mine in MI will loose their jobs at GM (which sucks but really they should have seen this coming).
Other than crying over gas prices why should I panic? Am i missing something?
RJ: No reason to panic. By the time they come after your house, your AR-15 will be of better use to you than your house. LOL
RJ: Seriously…I only sweat the things I can control. If this is the mother of all Charlie Foxtrots, then we’re all in the soup. If the defecation hits the circulation, we’ll have worse things to worry about than our homes or retirement portfolios or even our savings accounts.
Amir: Are you Predicting Armageddon? Full scale anarchy? Come on.
Some people will loose their jobs. But right now unemployment is low. Maybe people who are on the verge of foreclosure will be pushed over the edge. Which is more indicative of their spending habits than the economy.
But armed mobs’ in the street? Really?
RJ: Depends. If you get a hyperinflationary cycle, it could get that ugly. And unemployment–just like inflation–is actually a heck of a lot higher than being reported.
This is my take on it: the popping of the oil bubble will give us a couple years’ reprieve. But the underlying problems won’t be going away.
This is because–in addition to Fannie and Freddie (a $5 trillion Charlie Fox waiting to happen), we’ve got Medicare and Socialist Insecurity knocking on our door.
On a related note, it’s articles like this one that makes me want to bite my libertarian lip:
http://www.boundlessline.org/2008/07/will-tough-econ.html
I feel like lecturing back at my monitor in a scolding, fatherly tone: “Dude. Will the tough Economy Motivate the Republicrats and their Corporate Handlers to be Better with MY Money?” Something tells me that it’s highly unlikely that the Boundless staff shared in my vote for Ron Paul during the Primary season.
Anakin: I hear ya. I don’t think most religious conservatives understand the extent to which they’ve been sold out by fascists who cross-dress themselves as “conservatives”.
I just saw that minimum wage is to go up . . . again. I didn’t realize it had already gone up only a year ago.
Here’s a question…
Do you think Obama as president would have a negative effect on the defense industry?
Christina: Hard to tell. The gut reaction is yes; on the other hand, he may be prove quite malleable and could cave in to influence from the military-industrial complex.
After all, on one hand, he whines about the war in Iraq while–on the other hand–he seems quite hawkish about going into Pakistan.
With the right advisors, he could be quite easy to influence.