A whole bank company shut down by govt?

[CAP1]

we are in a recession....I assure you.  the only thing preventing it from not being called that is the unemployment numbers......but all other vairables point to the definition, spot on.  combine that with the destruction of real property values.... and one could argue a depression is possible.  especially when iran is attacked....  food and gas rationing for certain...huge spikes in the costs of........everything.....and a huge devaluation of the dollar.

oooo goody

[Kaw1000]

how much of that, if any, was  contribution principal?

Have not put any money in it in years...when I was in it they matched me a whole Nickel for every dollar I put in!

[ZetaNine]

Have not put any money in it in years...when I was in it they matched me a whole Nickel for every dollar I put in!

are you able to roll it into a Roth IRA?

[lasersailor184]

We are heading for a big resession, we can help aleviate the problem if we stop buying from Walmart and the big stores that buy offshore goods and buy local.

Because the only CERTAIN way to keep ourselves out of a recession is to spend more money that we don't have on items we need.

[Maverick]

you have gold as a good option.

Do you actually have the metal in hand? If all you have is a certificate you have less than if you saved dollar bills in a savings account in the bank. If you have just a certificate you invested in a company that says they have gold and will either produce the metal or give you another form of financial fiat but only if the company you invested in remains solvent. If they don't you do not even have the FDIC bank account insurance.

If you have metal in hand you then need to find a way to actually spend it by finding a person who will exchange it for goods in hand on a price or exchange rate you both agree on. That could be interesting engaging in barter vs exchange of government fiat at a set exchange rate.

[ZetaNine]

Do you actually have the metal in hand?

yes I do, and here's where I buy it. 

http://www.williamyoungerman.com/

[bj229r]

we are in a recession....I assure you.  the only thing preventing it from not being called that is the unemployment numbers......but all other vairables point to the definition, spot on.  combine that with the destruction of real property values.... and one could argue a depression is possible.  especially when iran is attacked....  food and gas rationing for certain...huge spikes in the costs of........everything.....and a huge devaluation of the dollar.

A 'recession' is defined as TWO consecutive quarters of negative growth....haven't even had one yet (Well, not until the next report comes out)


Every 6-7 years, we have a small recession, and the news networks dredge up memories of 1929..idiots. (This cycle has been ongoing since WW2) Although it sure LOOKS like its gonna happen this time, due to double-whammy of loan failures and oil prices, main stream news media has over-hyped every little hiccup into people jumping out windows for the last 6-7 years. Lost amidst all this is the 52 consecutive months of growth since the recession of 99-01.

[ZetaNine]

A 'recession' is defined as TWO consecutive quarters of negative growth....haven't even had one yet (Well, not until the next report comes out)


Every 6-7 years, we have a small recession, and the news networks dredge up memories of 1929..idiots. (This cycle has been ongoing since WW2) Although it sure LOOKS like its gonna happen this time, due to double-whammy of loan failures and oil prices, main stream news media has over-hyped every little hiccup into people jumping out windows for the last 6-7 years. Lost amidst all this is the 52 consecutive months of growth since the recession of 99-01.

people are losing their homes in record breaking numbers......and for that reason alone......it makes this a very very bad time.

[lasersailor184]

people are losing their homes in record breaking numbers......and for that reason alone......it makes this a very very bad time.

No, idiots are losing their homes in record breaking numbers. 


Even reasonably average intelligence people are still holding onto their homes at about the same rate.

[BaDkaRmA158Th]

Depression.


Do simple things, collect gold, and seeds. "maby some backup water, and miracle grow)

The gold will be worth the same $ no matter what nation, as its not paper with ink on it.
Seeds may be planted to help your family survive when food gets short, and it will.
The miracle grow can be used to make soil good enough to keep your family alive, the water just in case the weather patters change so much, and your area becomes a wasteland.


Oh and a rifle or two to keep "the law" off your land.


Oh, and a rocking chair to wait out the boring endless days.





I think thats all.

[ZetaNine]

No, idiots are losing their homes in record breaking numbers. 


Even reasonably average intelligence people are still holding onto their homes at about the same rate.

no doubt MANY of the people losing their homes are people who took bad deals......or bought above their means.....but their mistakes nothwithstanding.......we're all going to have to pay for it.

I'm not going to act holier than thou either......I've had the best three years of my professional career....and I'm also actively buying deeply undervalued real estate right now.  it's a buyer's dream...but with that said...of the few homes I've purchased recently.......EVERY homeowner was very appreciative...as they were wondering if they would ever sell at all...or even lose their home before they did.

[LePaul]

Read the news on that story....I read it from a few sources and the bottom line is this:  They had a terrible lending policy that pushed them into a huge losses.  Then news came that they were in deep doo-doo and there was a run on the bank (people grabbing their dough and bailing out). 

The bottom line I got from reading about this in the banking sites is that while they would love to blame the mortgage crisis for this, its not that.  It certainly contributed but their terrible lending practices put them into the red big time.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aAYLeK3YAie4&refer=worldwide

[angelsandair]

We are heading for a big resession, we can help aleviate the problem if we stop buying from Walmart and the big stores that buy offshore goods and buy local.

Ummm... Food you get at Walmart and Food you get at the Dollar General or any place for that matter will probably come from the same place.

[ZetaNine]

walmart is taking great strides to buy food from local vendors......they have been for the last few months...and in doing so.......are cutting distribution/storage/transportation costs...and passing the saving on to you......the consumer. 

[angelsandair]

People are just too damn paranoid.

Sometimes, I wonder why I watch the news when I walk in the room with it on...