From: Scott Morris (swm@emanon.com)
Date: Fri Sep 19 2008 - 17:01:48 ART
Well, you've highlighted two different faults that too many people have:
1. Believing that living in debt is acceptable as long as you can make
payments
2. Believing that the rest of the country/world somehow owes you, or you
have a right to skate on by if something goes wrong.
Unfortunately, the government has been a very simple "enabler" for many
years for people with these beliefs, and somewhere along the way, more and
more people viewed this as the "accepted norm". Big surprise, eventually
things catch up.
I cringe all the time I hear those commercials about "Are you in debt?? We
can make it go away, and you pay pennies on the dollar!"
The sadder part is that I'm beginning to believe that lottery tickets are a
more viable method of retirement planning than a 401k is.
;)
Scott
-----Original Message-----
From: nobody@groupstudy.com [mailto:nobody@groupstudy.com] On Behalf Of Matt
Bentley
Sent: Friday, September 19, 2008 3:49 PM
To: Gary Duncanson
Cc: Luca Hall; Cisco certification
Subject: Re: Re: OT - Banking
Let's make no mistake on how we got into this whole mess.
1. Greed (banks) - aka capitalism without moral integrity 2.
Overindulgence (people)
People should realize that unless you are CERTAIN you can pay off your debt,
you don't undertake that obligation.
I hate to break it to people, but things like stainless steel appliances,
granite countertops, a new car every 2 years, a 6 bedroom house, spas, etc.,
are simply not necessities of life and should be reserved for those people
who can afford them - without borrowing. Now, the people who have lived
within their means have to pay for the fools that have created the problem.
But hey, I have savings, food storage, and am not locked providing myself
with things I don't need.
Maybe my parents raised me a little different than most - but there was
always a knowledge that you don't spend more than you make. Simple concept,
but I guess people seem to think of the bottom line as an absolute number.
Our economy has "grown" on debt. Look how much the stock market has
increased in past 10 years. Could anyone really be foolish enough to
believe that such growth is actually warranted. Now, those "consumers" -
who are so strapped with debt, living right to the edge - AND BEYOND - of
their income, just went over the cliff. I am not saying the banks are
exclusively to blame - but I believe that both were required to put us where
we are now. I had been pretty strictly against government intervention in
the economy, but what do you do, when adults start living their lives like
they were playing a game of monopoly.
People have left any sense of financial honestly, isolating themselves from
the consequences of their actions by abusing bankruptcy. And, now we're all
paying for it
What am I going to do about it? Mark another point in the "life's not fair"
column and keep on truckin'
On Fri, Sep 19, 2008 at 12:52 PM, Gary Duncanson <
garyduncanson@btinternet.com> wrote:
> Hardly. Redistributing wealth to provide better health, schools and
> what have you for all is one thing. Taxing the nuts off people to bail
> out banks..that's another.
>
>
> There will be tax increases.
> ----- Original Message ----- From: "Luca Hall" <lhall@setnine.com>
> To: "Wes Stevens" <wrsteve33-gsccie@yahoo.com>
> Cc: "Gary Duncanson" <garyduncanson@btinternet.com>; "Cisco certification"
> <ccielab@groupstudy.com>
> Sent: Friday, September 19, 2008 5:20 PM
>
> Subject: Re: Re: OT - Banking
>
>
>
>> socialism here we come...
>>
>>
>>
>> ----- Original Message -----
>> From: Wes Stevens <wrsteve33-gsccie@yahoo.com>
>> To: Gary Duncanson <garyduncanson@btinternet.com>
>> Cc: Cisco certification <ccielab@groupstudy.com>
>> Sent: Fri, 19 Sep 2008 11:45:43 -0400 (EDT)
>> Subject: Re: Re: OT - Banking
>>
>> It is a bail out for the banks and wall street. It will be hard to
>> tell if it will help the home market or home owners. It will help the
>> banks. But it is going to be a huge amount of debt - hundreds of
>> billions according to poulson and that is probably on the low side -
>> that the government is taking on. There is no free lunch. Someone
>> will have to pay for this - that someone will now be the tax payers.
>>
>> Get ready for some big tax increases....
>>
>>
>> ----- Original Message ----
>> From: Gary Duncanson <garyduncanson@btinternet.com>
>> To: Wes Stevens <wrsteve33-gsccie@yahoo.com>
>> Cc: Cisco certification <ccielab@groupstudy.com>
>> Sent: Friday, September 19, 2008 9:15:34 AM
>> Subject: Re: Re: OT - Banking
>>
>> The nice man Mr Poulson from the US treasury is live talking about a
>> 'relief package' to write off bank debts. I guess we wont be seeing a
>> slew of trader Patek Philippe watches on ebay just yet then.
>>
>> Where is this 'relief' coming from and who is paying for it?
>> ----- Original Message ----- From: "Wes Stevens" <
>> wrsteve33-gsccie@yahoo.com>
>> To: <kmoorman@gmail.com>; <ccielab@groupstudy.com>
>> Sent: Wednesday, September 17, 2008 8:35 PM
>> Subject: Re: Re: OT - Banking
>>
>>
>> I hate to start a political rant, but...
>>>
>>> The government has no long term vision. They are doing there best to
>>> aliviate the short term pain. In doing so they are just puting our
>>> kids deeper and deeper in dept. All of you out there under 30 should
>>> be very concerned because you will be paying back what the
>>> government is borrowing to bail out all these firms. Would it hurt
>>> to let fanny and freddy and AIG fail - yes a lot. But we would get
>>> through it and be better off 5 years from now.....
>>>
>>>
>>>
>>> ----- Original Message ----
>>> From: "kmoorman@gmail.com" <kmoorman@gmail.com>
>>> To: ccielab@groupstudy.com
>>> Sent: Wednesday, September 17, 2008 8:46:40 AM
>>> Subject: Re: Re: OT - Banking
>>>
>>> from what i have been reading in some "Non controlled" investing
>>> materials that the US is headed for another depression worst than
>>> the 1930s in the next couple of years.. and with all thats happening
>>> with the govt not letting these businesses suffer from their
>>> mistakes this writer was right..
>>>
>>> but to answer you question.. depends on what you growing
>>>
>>>
>>> http://en.wikibooks.org/wiki/Self-Reliance_Handbook/Vegetable_Growin
>>> g_Guide
>>>
>>> the readiness to be picked/used is from 30 to 90 days
>>>
>>> there are some great canning guides out there as well
>>>
>>> http://www.pickyourown.org/allaboutcanning.htm
>>>
>>>
>>> Blogs and organic groups at http://www.ccie.net
>>>
>>> ____________________________________________________________________
>>> ___ Subscription information may be found at:
>>> http://www.groupstudy.com/list/CCIELab.html
>>>
>>>
>>> Blogs and organic groups at http://www.ccie.net
>>>
>>> ____________________________________________________________________
>>> ___ Subscription information may be found at:
>>> http://www.groupstudy.com/list/CCIELab.html
>>>
>>
>>
>> Blogs and organic groups at http://www.ccie.net
>>
>> _____________________________________________________________________
>> __ Subscription information may be found at:
>> http://www.groupstudy.com/list/CCIELab.html
>>
>
>
> Blogs and organic groups at http://www.ccie.net
>
> ______________________________________________________________________
> _ Subscription information may be found at:
> http://www.groupstudy.com/list/CCIELab.html
Blogs and organic groups at http://www.ccie.net
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