Today's Financial Woes

[snoseek]

Will this turn out to be as bad of a financial burden to the US than the war in Iraq????

I'm no expert but 700 billion and potentially more is a lot of $$$$. Hard to even grasp.

I'd like to attend these board meetings now that I'm a part owner of these companies:grin:

 

[GrilledSteezeSandwich]

A guy at the bar who works for the local ford dealership said in the past two years they went from selling 180 cars per month to 50 cars per month..that's not a good thing and he is looking for another job..and he's 57 years old which means it's going to be tough for him to get hired..it makes me realize how fortunate I am..

 

[Warp Daddy]

A guy at the bar who works for the local ford dealership said in the past two years they went from selling 180 cars per month to 50 cars per month..that's not a good thing and he is looking for another job..and he's 57 years old which means it's going to be tough for him to get hired..it makes me realize how fortunate I am..

This situation is being played out across the country and frankly imho will get worse especially as it relates to discretionery income. My county( historically has employment problems ) has been hard hit, major businesses like a 50 yrs old + GM plant and several Cheese plants have gone belly up in the last 3 months while secondary and tertiary levels of suppliers in the area of those industries are downsizing , retail is SLOOOOW --folks are hurting

Change is needed and soon
'm very concerned that The new reality may be quite stark for some

 

[Moe Ghoul]

I'm no expert but 700 billion and potentially more is a lot of $$$$. Hard to even grasp.

I'd like to attend these board meetings now that I'm a part owner of these companies:grin:

The war will look like a bargain potentially compared to this fiasco. The total cost of the Iraq war is prolly nearing a trillion when you add up the incidentals. Then you add in disability and medical care for the soldiers, it pays out for another 30-40 years.

 

[GrilledSteezeSandwich]

!!!

The war will look like a bargain potentially compared to this fiasco. The total cost of the Iraq war is prolly nearing a trillion when you add up the incidentals. Then you add in disability and medical care for the soldiers, it pays out for another 30-40 years.

Can't we just rule the whole world already???????????:lol::grin::-D:flag::flag::flag: I sort of feel like all the greed from the past generation is going to bite us all in the ass..but seriously..as it relates to skiing..I imagine some more ski areas are going to hit the lost ski areas lists in the coming years due to the economy..which is a sad thing..I know the Xanadu complex might have a tough time among this economy..yes it's in one of the Wealthiest counties..Bergan..in the US but alot of those wealthy people are not wondering whether their Christmas bonus is 6 figures..or 7 figures but whether there will be a job for them in 2009.....It's doomsday..we should all go out and get drunk!!!

 

[chase]

Well I don't know $hit about finances and macroeconomics but people have been saying that the sky is falling forever and were still here...

 

[Moe Ghoul]

Can't we just rule the whole world already???????????:lol::grin::-D:flag::flag::flag: I sort of feel like all the greed from the past generation is going to bite us all in the ass..but seriously..as it relates to skiing..I imagine some more ski areas are going to hit the lost ski areas lists in the coming years due to the economy..which is a sad thing..I know the Xanadu complex might have a tough time among this economy..yes it's in one of the Wealthiest counties..Bergan..in the US but alot of those wealthy people are not wondering whether their Christmas bonus is 6 figures..or 7 figures but whether there will be a job for them in 2009.....It's doomsday..we should all go out and get drunk!!!

HELL YEAHHHH!! I'll hook my dogs up to a sled and mush up to Blue Mtn if I can't pay the gas, lol. Here's an interesting tidbit that you won't hear on Faux Noise Channel or corporate media.

Army Unit to Deploy in October for Domestic Operations
Beginning in October, the Army plans to station an active unit inside the United States for the first time to serve as an on-call federal response in times of emergency. The 3rd Infantry Division’s 1st Brigade Combat Team has spent thirty-five of the last sixty months in Iraq, but now the unit is training for domestic operations. The unit will soon be under the day-to-day control of US Army North, the Army service component of Northern Command. The Army Times reports this new mission marks the first time an active unit has been given a dedicated assignment to Northern Command. The paper says the Army unit may be called upon to help with civil unrest and crowd control. The soldiers are learning to use so-called nonlethal weapons designed to subdue unruly or dangerous individuals and crowds.

 

[GrilledSteezeSandwich]

Well I don't know $hit about finances and macroeconomics but people have been saying that the sky is falling forever and were still here...

Macroeconomics..you must be a freshman??? I got a B+ in that..and I was pissed off..lol..

 

[chase]

Macroeconomics..you must be a freshman??? I got a B+ in that..and I was pissed off..lol..

yep...I have micro now...maybe macro next semester. And first year econ courses at penn state are a joke.

 

[wa-loaf]

Army Unit to Deploy in October for Domestic Operations
Beginning in October, the Army plans to station an active unit inside the United States for the first time to serve as an on-call federal response in times of emergency. The 3rd Infantry Division’s 1st Brigade Combat Team has spent thirty-five of the last sixty months in Iraq, but now the unit is training for domestic operations. The unit will soon be under the day-to-day control of US Army North, the Army service component of Northern Command. The Army Times reports this new mission marks the first time an active unit has been given a dedicated assignment to Northern Command. The paper says the Army unit may be called upon to help with civil unrest and crowd control. The soldiers are learning to use so-called nonlethal weapons designed to subdue unruly or dangerous individuals and crowds.

Wow, what the hell is all that about? Nothing like setting a bunch of jittery war vets on a bunch of protesters. I thought that kind of use of the Army was against the law. Not a good sign.

 

[Warp Daddy]

H'mmm mber the Manchurian Candidate Flick ??

 

[Moe Ghoul]

Wow, what the hell is all that about? Nothing like setting a bunch of jittery war vets on a bunch of protesters. I thought that kind of use of the Army was against the law. Not a good sign.

Posse Comitatus. They're throwing away the rulebook. Look into FEMA powers. Like suspending constitutional rights and a littany of other goodies. But that gets political again.

 

[deadheadskier]

When my wife and I bought our townhouse in January we decided to buy a place well under our budget so we wouldn't be house poor. We didn't feel a need to buy a huge place that we really couldn't afford but I guess a lot of people did. Also a smaller place means smaller gas and electricity bills. We also made sure we got a fixed rate mortgage at a low interest rate, I didn't want to get sucked into an ARM or option ARM and be screwed in a few years.

we did the same thing....bought well under our means. Fiscal responsibility resulted in a .5% higher interest rate.

what we chose and you chose should be encouraged, not penalized.

 

[wa-loaf]

Posse Comitatus. They're throwing away the rulebook. Look into FEMA powers. Like suspending constitutional rights and a littany of other goodies. But that gets political again.

If it's true they either think this economic situation is going to really get bad or some hijinx are planned for the election. Do you have a link to the article? I couldn't find it on the Army Times.

 

[GrilledSteezeSandwich]

yep...I have micro now...maybe macro next semester. And first year econ courses at penn state are a joke.

My Macroeconomics class was like 300 students..and my Microeconomics class was almost as large....then I had Economics of business in a class with like 150..followed by some mad steezy finance courses..and I still don't know who or what to believe with all the various news...all we can do is stay out of the stock market and squirrel our money away...

 

[andyzee]

I happy to see this thread is getting a lot of response and I'm looking at the number of views. Noticed a funny thing, it keeps on getting responses, yet the view count doesn't go past 175.

 

[GrilledSteezeSandwich]

I happy to see this thread is getting a lot of response and I'm looking at the number of views. Noticed a funny thing, it keeps on getting responses, yet the view count doesn't go past 175.

I always notice that...I would PM Greg..he's pretty good with computers..

 

[Moe Ghoul]

Here's another tidbit that was slipped into the budget bill a few years ago while everyone was snoozing.

This is the text from the John Warner National Defense Authorization Act for Fiscal Year 2007 (Enrolled as Agreed to or Passed by Both House and Senate), H.R. 5122.


SEC. 1076. USE OF THE ARMED FORCES IN MAJOR PUBLIC EMERGENCIES.


(a) Use of the Armed Forces Authorized-

(1) IN GENERAL- Section 333 of title 10, United States Code, is amended to read as follows:

`Sec. 333. Major public emergencies; interference with State and Federal law

`(a) Use of Armed Forces in Major Public Emergencies- (1) The President may employ the armed forces, including the National Guard in Federal service, to--

`(A) restore public order and enforce the laws of the United States when, as a result of a natural disaster, epidemic, or other serious public health emergency, terrorist attack or incident, or other condition in any State or possession of the United States, the President determines that--

`(i) domestic violence has occurred to such an extent that the constituted authorities of the State or possession are incapable of maintaining public order; and

`(ii) such violence results in a condition described in paragraph (2); or

`(B) suppress, in a State, any insurrection, domestic violence, unlawful combination, or conspiracy if such insurrection, violation, combination, or conspiracy results in a condition described in paragraph (2).

`(2) A condition described in this paragraph is a condition that--

`(A) so hinders the execution of the laws of a State or possession, as applicable, and of the United States within that State or possession, that any part or class of its people is deprived of a right, privilege, immunity, or protection named in the Constitution and secured by law, and the constituted authorities of that State or possession are unable, fail, or refuse to protect that right, privilege, or immunity, or to give that protection; or

`(B) opposes or obstructs the execution of the laws of the United States or impedes the course of justice under those laws.

`(3) In any situation covered by paragraph (1)(B), the State shall be considered to have denied the equal protection of the laws secured by the Constitution.

`(b) Notice to Congress- The President shall notify Congress of the determination to exercise the authority in subsection (a)(1)(A) as soon as practicable after the determination and every 14 days thereafter during the duration of the exercise of that authority.'.

(2) PROCLAMATION TO DISPERSE- Section 334 of such title is amended by inserting `or those obstructing the enforcement of the laws' after `insurgents'.

(3) HEADING AMENDMENT- The heading of chapter 15 of such title is amended to read as follows:

`CHAPTER 15--ENFORCEMENT OF THE LAWS TO RESTORE PUBLIC ORDER'.

(4) CLERICAL AMENDMENTS- (A) The tables of chapters at the beginning of subtitle A of title 10, United States Code, and at the beginning of part I of such subtitle, are each amended by striking the item relating to chapter 15 and inserting the following new item:
331'.


(B) The table of sections at the beginning of chapter 15 of such title is amended by striking the item relating to sections 333 and inserting the following new item:

`333. Major public emergencies; interference with State and Federal law.'.

 

[andyzee]

I wonder if the number of responses will surpass the number of views.

 

[Moe Ghoul]

If it's true they either think this economic situation is going to really get bad or some hijinx are planned for the election. Do you have a link to the article? I couldn't find it on the Army Times.

http://www.armytimes.com/news/2008/09/army_homeland_090708w/