Everything works until it doesn't! At what point will you default?!

[BillBoard]

I have been very busy, having lost a major client I have been working the phones. Today my brother tells me he is going bankrupt and laying off 6 people. I asked, what happened? He replies -burned almost all savings, people that owe him money can't pay, he is shutting down before he doesn't have anything left.

It dawned on me, Hyperkitty was right, when they run the economy up, they destroy people's savings. When they contract the economy, they destroy people's equity and consolidate the assets to themselves. The point that I am trying to make is that people will burn their savings to stay afloat until they are wiped out, giving the impression that they are ok until they are completely broke.

Let me tell you something people, if you are anything in debt, you will be toast in this recession. Hell, even those that have prepared will be bitten hard!

[Ash_Williams]

If there was a big drop in my personal income I would cut my personal spending without hesitation.

I've seen too many people get laid off then just go traveling and so on while their 6 months severance comes in. Then 6 months later no job because the economy didn't get fixed like they expected. So they renovate the house and buy a new car while on unemployment insurance, thinking in 18 months they'll surely have a new high paying job. Well that doesn't happen either and at the end of it they have more frigging payments than back when they were working.

I'm not married to any lifestyle though, so if there was reason to cut spending I'd do it right away. The girl I'm with isn't big on image either. We have fun whether we spend a ton on the evening or spend nothing and just go skating on a frozen pond and get into a snowball fight with kids. I could get by basically forever on savings assuming there's not crazy inflation, and if it needs to be "forever" I guess there's bigger problems anyway.

[Book]

The point that I am trying to make is that people will burn their savings to stay afloat until they are wiped out, giving the impression that they are ok until they are completely broke.



http://seerpress.com/wp-content/uploads/2010/09/US-Congress.jpg

Congress doing the same thing. This makes the best case for SUDDEN FINAL COLLAPSE rather than slow steady demise of America.

:oo-->

[chad]

almost all of my customers have stopped paying in the last 2 months. i have almost $10,000 in invoices that haven't been paid.

i spent last week trying to collect $180 from one guy. it took 3 letters, 2 phone calls, and finally a threat from me to sell his domain to a competitor to get $180. this from a guy who bought the business 4 years ago for close to 2 million. he's down to 2 employees plus himself from a high of around 25 guys.

several of my customers have changed phone numbers, stopped responding to mail, etc.

this is part of the reason i keep clamoring for silver to take off. i will be out of business by january myself.

:'(

[Ponce]

You guys should have read "The Richest Man In Babylon", as I did, by hiding 10% of what you got coming in and telling no one about it you then would have had a nice egg nest, or use that 10% to buy PM.

As long as you follow the "rules" of those above you (ie the government) you will always be broke no matter how much you make........after everything is down and done the only way that they could get to me is by higher taxes on my property now at $560.00 a year.....in what is to come 4 or 5 silver rounds should take care of that with no problem.

[chad]

ponce, been doing that for 21 years, only i did 30% or so instead.

i'm fine finance wise, just sucks i might be losing this sweet work at home for myself gig.

[Horn]

Welcome to the GSUS Pirates Club, chad.

Pull up a plank.

http://pirates2.sakraft.com/uploaded_images/Pirate_by_mo013-741289.jpg

[Twisted Titan]

Now more than ever one must be "Observant of The Times"

The most prudent thing to do is PAY WHAT YOU MUST and even then strecth it to the limit.

All "saved" funding must be forwarded to Hard Currnecy and Tangibles.

The collaspe is certain........the only question is the timing of it.

What must be done now is to pre position onself to come out on the other side as a shotcaller.

Cause you had best believe those with Trusted Money, items that are useful and able to defend themselves will be Lord and Master of whatever quarter of the world they occupy

[zap]

[quote=Ponce ]
You guys should have read "The Richest Man In Babylon", as I did, by hiding 10% of what you got coming in and telling no one about it you then would have had a nice egg nest, or use that 10% to buy PM.


Good Idea Ponce ! I figured that out all by myself a long time ago ;D 30% is a good number

Don't try to get me to go learning nothing :dunno

[BillBoard]

Ponce, the thing is that if you have saved, you better be prepared with your mouth shut.

I met one ass hole that told me he was going long lead, like guns and ammo. He said that if TSHTF he just had to shoot those hoarding the goods he needed.