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lquadland10 (< 20)

Let me get this straight. I have been thinking again and I know that is dangerous.

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June 28, 2008 – Comments (2) | RELATED TICKERS: GOLD , FSLR , MON

Our central bank won't raise rates because he wants to save the banks and not the country. How did I get there?  In a crazy round about way. Ben lowered the rates to save the investment houses and  banks from the bad lending practices of the ARM's and no doc loans. You know where you can get a higher intress rate from the poor and hard working people who can't afford housing. ( ponsie skeem thanks to Allen greenspand). Enter good old Ben ( who studied the Great Depression) who has now lowered the lending rate to 2% and won't increase it. Hence the poor have been almost wiped out of homes and more to come and the rates will have to be raised. Why? Because the middle class with fixed rates will now accelerate their foreclosures because with the loss of jobs and high food and gas because Ben in his haste to save the banks have now made it almost impossible for the middle class to have food clothing and shelter. So now they are starting to pair back and hence more contraction and more job loss just like the Great Depression. Then the commercial real estate will go next. Strange that Ben was the person who was put in the job and that he studied the depression and here he is facing it. If you thought the 70's and 80's were bad with the S & L's were bad think again. 2 wars China India Iran and what not. If you think it is bad now add in floods in the Bread Basket and you will see how this will affect our spending. Outscouced jobs and what do we make anymore?  Not much. Buy gold, pay of your credit cards,cars loans and most of all pay cash and plant a garden. Buy stock in the seed co. that sells to backyard gardeners. This is just the start of the end before we can get to the beginning again.

2 Comments – Post Your Own

#1) On June 28, 2008 at 6:53 PM, sid187 wrote:

NAAA, don't listen to that, what you need to do if you havent already is go buy yourself the biggest bottle of jack daniels that you can find, and when you start feeling all depressed simply take as many drinks as you need until those symptoms desist.

Buy some BFB  ~ thats the symbol for that whiskey maker, buy some tobacco stocks, i would recommend some beer stocks, but bud is already overpriced and that controlling family is too domineering to accept a very good offer, so stick with these 3 stocks

BFB

MO

&

PEP

and if your feeling good

buy some BHP

for your metal play

 

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#2) On June 28, 2008 at 7:41 PM, lquadland10 (< 20) wrote:

lol you made my day let me make yours Utilities Being Cut Off In Record Numbers for Families Who Can’t Afford To Pay Bills
As skyrocketing food and gasoline prices strain budgets, utilities are disconnecting many more customers who fall behind on their bills, and even moderate-income households are getting zapped. Electricity and natural gas shutoffs are up at least 15% in several states compared with last year. Totals for some utilities have more than doubled. "We're seeing a record number of shutoffs," says Mark Wolfe, head of the National Energy Assistance Directors' Association, which represents programs that subsidize energy bills. An NEADA survey this month shows 8% of four-member households earning $33,500 to $55,500 have had their power turned off for non-payment. "It's hitting people in the suburbs with two cars and two kids," Wolfe says. The disconnects are rising as warm-weather power bills increase, some state moratoriums on winter shutoffs expire, and rates are climbing in many states.In Pennsylvania, PPL Electric Utilities disconnected 7,054 customers through April this year, up 168% over the same 2007 period. Duke Energy in North Carolina is averaging about 11,000 shutoffs a month, 14% above last year. That's an annualized rate equal to nearly 10% of its 1.4 million residential customers. Disconnects are up 27% for Peoples Gas in Chicago, 14% for Southern California Edison and 56% for Detroit Edison, according to utilities or regulators. In Michigan, where home foreclosures are soaring and the unemployment rate is the USA's highest, more than one in five Detroit Edison customers were behind in their electric bills in May

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