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Enervated outlook for 2009

Discussion in 'Serious' started by Amon, 11 Dec 2008.

  1. Amon

    Amon inch-perfect

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    I love how our current situation is: everybody's losing their jobs or can no longer find one, credit has gone to shite, and yet 2008 has exploded with enormous quantities of games and high-res electronics and computer tidbits. Progressively higher-spec and expensive autos continue to be introduced, the stock market has long sailed into an ominous cloud of unpredictability, monthly dues are inexplicably rising against the money with which it's payed, the former points compound a threat to the sustainability of families directly on the brink of poverty (my own included), and our war-bemused civilization is rattled by political interests and the girth of immunized corporations.

    Quite frankly, gentlemen, I am a bit worried about our stability for next year and the years to which it leads us, hand-in-hand. I am fortunate to still have my low-paying job, but all of my weekly 40 hours go to paying for my family's living costs and to a future education for my younger brother to which I was not privileged. Sometimes, it feels like we (you lot and I) are being puppeteered through what was a typical script of 1959's The Twilight Zone; survival has been shuffled into the territory unrealism and you've no ace up your sleeve with which to reply.

    Now, I know not everybody here would scoff in indifference to the deterioration of our marvelously modern, technologically-enhanced lives, but, I also know that I cannot be the only person under dark, fast-moving, fast-growing clouds. Most of the year, I was ignorant to the deteriorating economy and it was only last week when I could feel the chill biting at my heels--no, I'm not talking about the frigid weather.

    I'm overreacting, perhaps, but, there's simply no denying that our stakes are growing against diminishing odds. Has anyone else here, even if recently, begun having second thoughts about 2009? Perhaps hardships--with a pricetag-- are in store for us under the skirt of New Years Eve.
     
  2. notatoad

    notatoad pretty fing wonderful

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    you need a beer :)

    yeah, the global financial situation has gone to hell, and we're all probably in for some tough times. but there isn't really anything you can do to change it, so there's not much point getting all stressed out about it. hardships are definitely in store for everyone, to some degree or another. tough it out, things will get better. and no matter how bad things seem, there are tons of people who have it worse. you are living a life of luxury right now. if you can afford the internet access and the spare time to accumulate 2500 posts on this site, you've got nothing to worry about.

    i lost close to $2500 in the value of my RESP this year, over 70% it's value. it seems like a lot of money, but i look at all the toys i have, the place i live, the stuff i can afford to do, and i realize that it isn't a big deal. same deal with my parents: they sold their house for over 500k three months before the markets started to go down, the plan being to rent a condo with the returns from investing that money. instead, their investment has lost over $130k so far, but they're happy. they can still afford their condo in the mountains, it just means no early retirement, no travelling, forgoing a lot of other luxuries, and working full time instead of part time.
     
    Last edited: 11 Dec 2008
  3. Major

    Major Guest

    You cannot look at life like that, I could say to someone with cancer "your life is amazing compared to the little starving kid in Africa" or I could say to the person who has had his legs and arms chopped off "Nothing to worry about, there is a guy that has been in a coma fo 10 years and he isn't coming out of it".

    At the end of the day, the only person who matters is No1, so don't compare yourself to someone else, it's your problem and you have to deal with it, **** everyone else.
     
  4. Prestidigitweeze

    Prestidigitweeze "Oblivion ha-ha" to you, too.

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    You could have fooled moi, Amon, since you write like a person with a degree in English Lit. (provided they hadn't beaten the archaisms out of you; I had to retrieve mine after paying colloquial tribute to my profs). You state your case well -- better, in fact, than the authors of several magazine pieces I've skimmed, possibly because you're more politically savvy than they and are not being pressured by a populist editor to make non-latinate small talk.

    I share your sense of trepidation but shoulder fewer responsibilities. I'm trying to find a way to buy stock in a few "foreign" (non-American/Canadian) companies that seem likeliest to grow during this period, and not continue to feed my addiction to electronics. I want to effect a strategy that might actually help me if I'm laid off -- a strategy I ought to have initiated ten years ago.

    If you want to verify your sense of pessimism, read a few pieces by libertarian economist, Peter Schiff, whose politics annoy me ("social programs are an unnecessary luxury") but whose investment strategies are often sound. I do agree with him that America got us into this predicament by cutting down on production and borrowing huge sums to support shadowy and speculative investments. (The "war" in Iraq would have been a rather good expenditure to avoid, whether or not you believe it was a question of ethics or oil; no other president would have even suggested such a blatant military bait-and-switch, let alone, dragged us into it.)

    If you're in the mood to spit foam flecks at passing strangers, google "bail-out" first, then "oil speculation" within that search. You'll soon learn that the first recipients of the bail-out money (Goldman Sachs, etc.) weren't going bankrupt because of the mortgage crisis. Rather, they were losing their business trying to make short sales on oil. The American people (and congress) bought into the bail-out because they believed the money pertained obliquely to actual home owners. In reality, it pertained to the oil industry -- who should have been the ones to bail out their pet industry on Wall Street, not the American public and, by extension, everyone who depends on the health of the American economy.

    And of course, if voters had understood that the Oil President who involved the U.S. in an Oil War premised on an unfounded (and untrue) assumption was also a key element behind the Oil-Related Economic Collapse, then perhaps Obama would have been elected by an even larger margin, and we might have been able to watch Bush III be indicted for war crimes and corruption after he stepped down from office, as he rightfully should be.

    There's a reason the Feds keep going after dems in Obama's home state and elsewhere: They're hoping to tarnish non-criminal dems from the beginning of the new presidency and congress in order to confuse voters and shoo in more Oil Vultures in four years' time.

    Supertoad -- While most of your points are valid, I feel compelled to address one in particular: The idea that Amon has nothing to worry about now because he could afford the time to post and the account with which to do it in the past.

    In the first place, convicts and the homeless have access to the internet (the latter through frequent visits to the library). In the second, most forum and email accounts are free. In the third, Amon is not complaining about his financial past. It's the future that concerns him, during which time, you and I are unable to say whether he'll be able to afford internet access or not (let alone, provide for his family).
     
    Last edited: 12 Dec 2008
  5. kenco_uk

    kenco_uk I unsuccessfully then tried again

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    Until flying cars or portable black holes are invented, I'm ok (I hope). With VAT down, mortgage rates plummeting, fuel prices down to nearly sensible levels, at least the cost 'to live' is cheaper for the moment, at least enough to build up a little reserve in time for when costs go up again.

    It's all ebb and flow, it's the way things are and always will be.
     
  6. Rum&Coke

    Rum&Coke New Member

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    I just got a government job and the student loans company gave me a shitload of money so Im not doing that bad in 09
     
  7. Prestidigitweeze

    Prestidigitweeze "Oblivion ha-ha" to you, too.

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    Update:

    Another economic prophet of our current sitch: The late Hyman Minsky, whose prescience overtakes Schiff's by more than three decades, and whose view of the free market itself is far less forgiving.
     
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