View Full Version : 401k - 60 minutes report
EE_
18th January 2012, 10:00 AM
This was part of a show called "The Collapse" I caught last night on 60 minutes CNBC.
If it gets posted on youtube, I'll post it here. The collapse was interesting because it showed how people walking away from mortgages is gaining traction and where we are headed...and it's not good.
The amount of under-water mortgages in the sun belt states is just staggering and expected to grow exponentially.
Here's a little info on the beloved 401k in the only part of the show I could find.
http://www.youtube.com/watch?v=OY857M0h43o
Shami-Amourae
18th January 2012, 10:52 AM
*Snuggles my Gold and Silver close*
That video is like 2 years old BTW.
I honestly laugh at these people. Call me sadistic, but I'm so sick and tired of trying to wake up people and having them laugh at me. Fucking payback.
chad
18th January 2012, 11:35 AM
401ks are the 1933 version of gold. theys comin' for it.
osoab
18th January 2012, 11:42 AM
401ks are the 1933 version of gold. theys comin' for it.
Slightly different though. They can confiscate with a few keystrokes now.
Shami-Amourae
18th January 2012, 11:49 AM
That's a good point though, since you have all these people in the Gold/Silver community afraid of confiscation. They are gonna be confiscating peoples' fiat instead since that's basically what everyone has. Almost no one owns Gold/Silver these days.
chad
18th January 2012, 11:53 AM
yep. they're confiscating it as we speak. most people's accounts are down 20% since the debacle in 2008. that's 20% of most people's life savings they've already taken. they will get the remaining 80% in the next few years to come.
StreetsOfGold
18th January 2012, 12:35 PM
It's actually very clever. Pool everyones "monies" into a DIGITAL computerized system and with a clever program and a few keystrokes, make it disappear and then have an excuse ready that it was "the markets" "fault"
To actually put together armed men and go house to house looking for money (Gold and silver) is way too cumbersome and it's way too publically visible.
osoab
18th January 2012, 12:37 PM
To actually put together armed men and go house to house looking for money (Gold and silver) is way too cumbersome and it's way too publically visible.
They didn't do this with gold.
chad
18th January 2012, 12:39 PM
They didn't do this with gold.
true, but people were all "i believe in the government" in 1933. most of them hustled down to do their patriotic part.
osoab
18th January 2012, 12:40 PM
true, but people were all "i believe in the government" in 1933. most of them hustled down to do their patriotic part.
The sheep will still bow down to .gov today. Hell, 75% are directly tied to .gov.
mick silver
18th January 2012, 12:43 PM
http://www.youtube.com/watch?v=Dif0aEUEweI&feature=related
chad
18th January 2012, 12:44 PM
i'm amazed at all of these people (like the ones in the video) who have lost half of it, but refuse to take the rest out and have something. it's like stockholm syndrome.
k-os
18th January 2012, 04:52 PM
i'm amazed at all of these people (like the ones in the video) who have lost half of it, but refuse to take the rest out and have something. it's like stockholm syndrome.
I know people like this . . . friends' parents. It's so sad. We (friends and I) can tell them all that we know about PMs, show them stats and charts, etc., but they still believe (probably because most of television says so) that it's going to bounce back.
AndreaGail
18th January 2012, 08:50 PM
"microsoft office diva" ::)
Shami-Amourae
18th January 2012, 11:23 PM
I know people like this . . . friends' parents. It's so sad. We (friends and I) can tell them all that we know about PMs, show them stats and charts, etc., but they still believe (probably because most of television says so) that it's going to bounce back.
Of course it will! The Recession ended in 2009. Didn't you see it on the TeeVee?
Barbaro
19th January 2012, 01:30 AM
I'm 42. I realized about 15 years ago at the age of 28 that I was going to work until I drop.
Therefore I chose (and still do) work, try to save, travel the world, and live in a foreign country. I've been overseas for 11 years.
PatColo
19th January 2012, 02:24 AM
the "walking away" story may be the OP of this thread,
Thread: CBS 60 Minutes: Mortgages: Walking Away (http://gold-silver.us/forum/showthread.php?27547-CBS-60-Minutes-Mortgages-Walking-Away)
I was updating that thread with walk-away stories, but haven't done that for a few months.
Still believe the speculation in the OP- ZSM (http://mondoweiss.net/2008/02/do-jews-dominat.html)'s promotion of walking away is a stepping stone to their ultimate "end of private property" agenda, though it'll be a bumpy ride (the necessary "chaos" stage). In this vein, it may also be that the "Occupy your home" strand of OWS is part of the banksters' gigantic plot, too! :o
The Evolution of Revolution: Occupy Your Home (http://www.activistpost.com/2011/12/evolution-of-revolution-occupy-your.html)
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