It's Over

[ckramer]

Since the day after George Bush was re-elected as President of the United States, interest rates have risen and the dollar has declined. It's too soon to call it a trend, but my own feeling is that the dollar is heading much lower and the gold price is heading much higher.

The U.S. trade deficit is a virtual guarantee that the dollar will fall and the budget deficit is a guarantee that interest rates will rise. It's busy happening, and there is no end in sight.

Prepare yourself, buckle up, and hold on.

Paul van Eeden

[Flammable Materials]

1. Yep.

Wish I had been able to finish paying off my credit card debt first.

Good thing I only have one card left.

[ooglymoogly]

10. its goin tu bee a bompee ried

[Viva_La_Revolution]

2. luckily no credit card bills for me....

because I refuse to get one. Pay-as-you-go, otherwise I get myself in trouble. Course, there's that $3000 for medical bills....ssighhh.

[illflem]

3. Sad thing is the bottom we hit

will likely be the worse ever.

What blows me away is how the Republicans always complain about Demos raising taxes without realizing that the dollar devaluation created by massive Republican deficits adds up to more than any tax increase in history. Devaluating dollars sneak up like inflation.

[truthseeker1]

4. Planning to put the house up for sale

and get what we can out of it. We'll invest our equity in gold and euros. We'll rent for a couple of years - thinking about moving to a cheaper city - and then buy again when house prices have dropped.

We're in LA now and are considering a move to Portland, Seattle, Kalispell/Whitefish or maybe Colorado (Boulder is a lib city right?). Keeping Vancouver and Calgary in mind for further down the road...would go there now but have to consider career limitations...

[Emillereid]

8. We are in the LA area too and are thinking of selling our house soon --

do you think the prices will be good until late spring?

We have some mutual funds (IRAs) and stocks -- do you think it's a good idea to dump them for european based mutuals or gold too. What's the best way to buy euros or gold. I need specifics -- I don't know anything about financial/economic stuff. I'd love to meet up with you and talk about this stuff.

[shesemsmom]

5. How

do you get prepared for something like that

[truthseeker1]

6. The bottom is going to fall out of the real estate market

so it's a good idea to sell if you can - otherwise, dig in and ride it out. We're not planning to be in our current home/location for more than a few more years, so it makes sense for us to get out now, otherwise, we could lose our shirts if we wait to sell. But if we planned to be here indefinitely (or for the next 20 years) we would stay put.

We're also trying to and consume less and save as much money as we can. Pay off credit cards if you can - interest rates are going to shoot way up. Expect lots of foreclosures and bankruptcies in the next couple of years.

[tsuki]

7. The ones that this will hurt the most is the fixed income group.

I am uncertain how I feel about this because members of my county email list are mainly retirees. They were the first to embrace Bush, and shout the rest of us down (all three of us.)

One part of me want to yell, You wanted him, the other part of me feel bad about what is to come.

[cyberpj]

9. Maybe

But my husband and I both had 10-15year tech careers within the 60-100K category and banked on a future before we were both laid off or "downsized" this year in order to "outsource", or shall we say 'auction off to the lowest bidder', our jobs and line our companies' BOD and stockholder pockets.

What will an economic crash do to lots of middle classers already in trouble?

Not that anyone's seemed to care for some time now.


Me?

Nooo.......

I'm not bitter.

:smoke: