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alstry (35.28)

Homeless Hits The Middle Class

Recs

15

September 29, 2009 – Comments (16)

“The nation’s rural homeless rate is soaring. In Montana, it has really grown wings. Exacerbating matters in Montana are the state’s high foreclosure rates, which are particularly prevalent in the Flathead. Lori Botkin of the Flathead Food Bank said her agency is consistently flooded with families, many from the middle class, which represents a dramatic shift from past years. ‘We’re not seeing the live-under-the-bridge homeless,’ Botkin said. ‘It’s more middle-income families. They come in, they’re well dressed; they drive nice cars.’”

http://www.thehousingbubbleblog.com/index.html

With millions of homes pending foreclosure...expect the numbers of homeless to explode in coming months...especially in light of the fact that few jobs are available presently.

When you encourage banks to overleverage a credit dependent economy and then raise interest rates 17x and cut off credit....the economy dies and so do those within it.

When you only bail out the insolvent banks and not the citizens....tens of millions will lose their jobs and thrown out on the streets as the bankers bask in billions of bonuses.  The cost to society and the economy will be enormous as government will collapse under the unsustainable costs while the bankers have transferred their money outside the country.

Welecome to America 9.09....it is only the beginning and now you know...as time passes, the higher the odds it will be you impacted.... as the Zombulator spreads Zombulation across America.  Unless we restructure.....there is little doubt where this is heading....already over 50% of Americans aged 16-24 are unemployed......over 2/3 of Americans are living paycheck to paycheck......and wages are crashing at a record rate as bankruptcies are reaching unprecedented levels.

Once the dollar loses its reserve status, no longer will America simply be able to print money...at that point 100,000,000 Americans currently receiving government checks with money that doesn't exist could be standing in food lines or begging at your front door for food.

Keep on dreaming, you will soon realize the reality as no nation has ever been able to recklessly debase its currency without massive consequences.

You are now prepared........you may want to buy some chickens.

 

16 Comments – Post Your Own

#1) On September 29, 2009 at 12:29 AM, alstry (35.28) wrote:

Gross Domestic Product: 40 Percent of the United States GDP comes from 5 States; California, Texas, New York, Florida, and Illinois.

http://www.mybudget360.com/gross-domestic-product-40-percent-of-the-united-states-gdp-comes-from-5-states-california-texas-new-york-florida-and-illinois/

hmmmmmmmmmm....isn't that where the economies are the most challenges as well???

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#2) On September 29, 2009 at 1:19 AM, Starfirenv (< 20) wrote:

  Well, private "pole dancers" are 2 for 1, so that's good, right.
  Disclosure: Long  PDs. This trend should gain momentun thru the Holidays and beyond, IMHO. Upside going long at this point of entry.

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#3) On September 29, 2009 at 1:23 AM, checklist34 (99.71) wrote:

lol starfire

a big discount sale on pole dancers may well be good for morale, raising consumer confidence, and sparking a recovery

maybe i should make a trip to vegas and see if I can negotiate some 2-4-1 specials ...  

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#4) On September 29, 2009 at 1:35 AM, Starfirenv (< 20) wrote:

Northern.
Agreed, plenty of recoveries, considering cyclical natue and the waves of all those charts. MASSIVE!!!!!!!! PREPARE!!!!!!!
 

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#5) On September 29, 2009 at 1:51 AM, ozzfan1317 (81.31) wrote:

I agree 2 for 1's on pole dancers is vital for our economy..:P

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#6) On September 29, 2009 at 3:11 AM, awallejr (83.91) wrote:

"Once the dollar loses its reserve status"

And what will replace it?  People bash it enough, yet give the average human being on the planet the choice of the dollar or anything else, they take the dollar in a heartbeat.  Suckers perhaps?  Nah.  Just the Chinese for buying all those T bills. 

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#7) On September 29, 2009 at 4:22 AM, Huayra (< 20) wrote:

I have to disagree with the posting above from awallejr, I'm a european investor and I can assure you that if given the choice at least half if not more would stipulate payment in EUR. Although I assume most Asians would go perhaps go for AUS or YEN. The USD is probably only fourth on a lot of lists @ the moment.The simple problem with the dollar @ the moment is that not only your country has a massive deficit, btw not President Obama's/ the current administration's fault mind you, and future debt and commitments, but that it seems to be presist on all levels in your country.

Even on the individual State level, to the municipalities, pension funds, even a lot of US citizens have been so overleveraged for so long that debt seems to be around every corner. Of course some, not all, European countries have similar debt levels on government level, the same with Japan for example. The big difference is that those citizens have much less personal debt compared to equity and income.

In countries like mine, The Netherlands, there is already a discussion and plans for higher taxes in the future and reduced future government spending. You need those plans in place to maintain a stable level in the respective currency. We don't like it of course, but our generation has no choice but to start cleaning up the mess.. what can you do except deal with the problems at hand.

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#8) On September 29, 2009 at 4:37 AM, awallejr (83.91) wrote:

Except that with the US still being the largest economy in the world (although China is trying to pretend to be it despite the fact the US females alone exceed China/India COMBINED), people turn to the dollar in the end.  What happened last year during the crash?  People PAID to hold T bills.  They didn't pay to hold euros. 

With the above aside, I do agree with your last paragraph.

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#9) On September 29, 2009 at 4:53 AM, APJ4RealHoldings (31.67) wrote:

Bluebird76

has a avery valid point within 2nd paragraph in his post. 

Despite the comparable debt levels Europe has compared to teh States...and despite higher leveraged banks in Europe...a big factor is debt at the consumer level / local level.  I've remembered stats indicating higher savings rate in Europe which would make sense of them having lower personal debt.  

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#10) On September 29, 2009 at 7:35 AM, alstry (35.28) wrote:

Blue and AP,

You nailed the key difference...and for the first time in a few generations, the banks are cutting off the consumer from credit.

As a result, but for massive government deficits, the American economy is evaporating.  The only question now is how long will the rest of the world permit America to run such massive deficits before we are cut off?

In the mean time, conditions continue to deteriorate.

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#11) On September 29, 2009 at 9:33 AM, russiangambit (29.29) wrote:

> And what will replace it?  People bash it enough, yet give the average human being on the planet the choice of the dollar or anything else, they take the dollar in a heartbeat.  Suckers perhaps? 

Awalle, as an american you have an emotional attachment to the dollar, and thus you cannot look at it objectively. To a foreigner, a USD is no more than a piece of paper like a stock or a bond. If it starts loosing value, it goes.

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#12) On September 29, 2009 at 9:49 AM, jesusfreakinco (28.91) wrote:

awallejr

Pull your head out of the sand and quit watching the MSM.

Federal Reserve Accounts For 50% Of Q2 Treasury Purchases

http://caps.fool.com/Blogs/ViewPost.aspx?bpid=263069&t=01007614523203038290

There are several good blogs and websites out there about what is really happening in the economy.  Just keep your eyes and your mind open.

JFC

 

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#13) On September 29, 2009 at 10:00 AM, awallejr (83.91) wrote:

It is a question of reality. I advise you actually do the same.  You guys have been railing against the US stock market for 7 months now and have basically missed one of the greatest rallies during your lives.  Keep denying.  Show me an acceptable alternative.  Guess what, you can't.  Fact, not emotion.

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#14) On October 06, 2009 at 8:44 PM, USNHR (32.15) wrote:

I think I liked the discussion about pole dancers better than the economy. Anyone mind if I stick my head in the sand for a bit?

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#15) On October 07, 2009 at 12:46 AM, Starfirenv (< 20) wrote:

Concentric Contraction can be a good thing. With upward pressure I say go long on PDs.

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#16) On October 07, 2009 at 12:46 AM, Starfirenv (< 20) wrote:

Concentric Contraction can be a good thing. With upward pressure I say go long on PDs.

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