Wednesday, December 31, 2008

Nipping at our Nose

Since the season to be jolly is over, I just want to say a few tings, economically that is. For the past 16 months I have been trying to prepare folks for the impending economic “dark ages” that may be on our door step, or even nipping at our nose. I say this for what we have experience thus far, may be very small in comparison to what waits ahead for these United States of America financially.

As history has shown, most of our problems are man made and as such our days as a world dominant leader of nations are numbered for we are now basically broke, with an economyripped apart and entirely dependent on loot borrowed from other nations. Businesses will find it hard to survive. Not just Wall streets and banks but any and even the small. What has happened is that America has turned from a producer to a consumer. And as such all of us are going to have to do some serious re-evaluation of our lives and life styles for the impending implosion of what we used to take for granted. The main problem is that politicians will not be able to solve what the have let happen on their watch. Not to mention they always desire a quick fix and or the easy way out – which normally ends up being a short term fix if that.

Yep we aint even seen the start of this mess. States like Illinois, Minnesota, New York, and Massachusetts are in the process of selling and privatizing parks, and lotteries just to make ends meet. Even cities doing what they can to stay a float. Chicago is trying to lease Midway Airport for $2.5 billion, if the feds approve the deal and has already inked a deal with a company regarding parking meters. But as I said, these are merely short term fixes and may even make these municipalities loose money in the long run.

It would surprise me none if states like California, Ohio, Michigan, and Florida will be bankrupt before the end of next year. Strange aint it, that Federal municipal bankruptcy laws came about in 1934 during the Great Depression. California's unemployment rate is more than 8.4%. Michigan’s is more than 9.6% Rhode Island is above 9.3%.

Yep the shit is about to hit the fan even with the Treasury and Federal reserve throwing all but the kitchen sink at the financial markets to fight deflation while not even noticing how folk like me taking a hit. And we don’t know how many more folk like Madoff are still on the loose thanks to the Chris Cox SEC. Not to mention that we are currently experiencing asset price deflation in an econonmy that seems tto be grinding to a halt.

So a toast to the Feds, and all them other folks that have lead us to the eventual destruction of the U.S. dollar and the global monetary system upon which it’s based. For the truth is that U.S. government debt is at $10.5 trillion and our government continues to advance a policy of deficit spending. I figure the Fed’s next move will be to push for the all powerfum Amero (new currency). This will drive up oil and gold and all else meaning that investors won’t support the U.S. government’s monetary policies. So I drink again as the U.S. dollar retreats against other currencies and commodities. Wish more folks read John Moorlach, the accountant who predicted the 1994 Orange County bankruptcy. He suggest that maybe Up to 10 Municipal Bankruptcies in 2009. So hold on to your hats because folk needs to be a magic Negro to deal with what I see on the bunson burner. But me no economist, so don’t listen to me mane. Just let jack frost keep on nipping at your nose.

28 comments:

Missy said...

Sobering thoughts. Chilling even.

Curious said...

I feel you on this, but then what's to be done? Does the government just close up shop, pay off it's debts and say FU to the bailouts and every man for himself?

I actually think that I would agree with that. It would cut out the dead and dying and leave room for the rest in the long run. Those that survived would come out smelling sweeter and more secure than ever before. But for the rest of us with no jobs or steady incomes to rely on, which will happen more and more, until we got to that point it would be hell.

Obama says, he doesn't believe in increasing deficit spending, but the alternative will be worse, is he wrong? I don't know, all I do know is that we're living in some interesting times.

And on that note, I want to wish you, the CFO and the mistress of the house a happy and prosperous New Year.

clnmike said...

What are your suggestions for righting the boat?

i.can't.complain. said...

so what ure saying is :

i shouldn't invest in those color barack obama coins...

-1-

RunningMom said...

I see a lot of families consolidating in 2009. I see marriage or at least co-habitation becoming more popular than ever and I predict that the multi-generational home won't just be for Hispanics and Middle Easterner's anymore.

I also think that there will be another baby-boom (really it's already started). Not much cheaper than sex for entertainment - but could be more expensive in the long run, lol. Family & friend game night is also becoming more and more popular these days. It's inexpensive and fun!

I have made a bunch of cuts to my expenses already, but I could make more and will if I have to. I'm credit card debt free, and I have a mortgage and a car loan that I can currently afford. That alone puts me ahead of the game compared to most Americans right now.

Anyway - We're living history right now. This will be a time that historians, economists and the like will be talking about for many years to come. Things will get better, they always do - but yes, be prepared for things to get much, much worse.

Peace, love, prosperity, and intellegence to you and yours in 2009.

~RunningMom

Sista GP said...

Yeah cuz, I've seen many store closings recently. The latest is a Christian bookstore that recently became an affiliate of Berean Christian Stores. Along with the recently closed Modern Grocery, it had been open since I was a kid. You would think that in this time of economic crisis, the religious businesses would flourish.

Happy New Year's to you and your fam. See you prosperous in 2009.

Meikmeika said...

Here we come Amero!!! Why is it we have to go searching for info on the Amero. If I'm not mistaken, I only remember Lou Dobbs discussing this....

I'm unemployed, broke, & trying to survive...ain't life grand!

Red Snapper said...

hmmmmmmmmmmmmmm.

I don't have anymore to cut. I'm doing the best I can with what I have.

My car holds 22 gallons, my bowl sizes vary and my gin/tequila/vodka/wine has to stay on deck.....somethings I am not willing to part with.

And there it is..............

BuelahMan said...

Hey,

Are we both John The Baptists, but no one is listening?

You are much more elegant than I in communication capabilities, but even this stupid assed redneck saw this coming from WAYYY back and has been raving about it since I first started blogging over a year ago.

How can so many people be so fucking stupid (or blind)?

We are fucked, my friend.

I predict 100,000 businesses failing and closing in 2009, in addition to the cities and states problems.

I have spent the last year planning for this and have been changing my business to capitalize on the crumbs after the stomping is over.

I just hope I can hang on until then.

Good luck to us all.

If you have money, buy gold. Or food commodities... something that will have value once the dollar is done.

Food will be the most valuable thing on the planet when the shit is splattered from the fan.

rainywalker said...

RawDawg,
Excellent post. I've been telling people this for years and they laughted. I was reading an article about that new currency. Happy New Year and then back to reality.

blackgirlinmaine said...

Speak that truth. I beleive that 2008 was just the beginning of what will be hard nasty times for those of us in the US. Sadly barring some fundamental changes in how we operate which may never happen, its about to get ugly.

I agree with posters who have stated family game nights and multi-generational housing may become the norm. The reports are already stating how couples are trying to work things out rather than get divorced.

Happy New Year!

P_LOCA said...

Sorry now I'm viewing it..finally got a chance to..
but it is crazy to see how ppl are losing their jobs, house are being sold...things are getting expensive...NY was always expensive but it is getting worst week by week (in my opinion)..
yesterday I was at the mall with mom...it was so hard for me to see I walked out of victoria secrets and bath and body works with 4 items when usually I'll walk out with bags...but there's a first time for everything.
But we need to learn how to spend our money wisely-especially us blk folks we have to learn where our money goes and what's a necessity..
But in NY they plan on raising the transportation smh!!
GOD bless us all in the upcoming year and so on!!

nicki nicki tembo said...

No doubt you been sounding the trumpet. Most won't hear it though. Which is why many are going on day by day giving very little regard to what lies ahead. You've done numerous post with respect to this crisis, varying from observations, suggestions to warnings and back again. And yet without fail people respond wanting to know what are you saying, really.

paisley said...

well i live in cali,, and it is way over its head already... i cant imagine a place that charges ya $5.00 for a loaf of freaking bread being broke..... but then again,, there's a hell of a lot i cant fathom......


happy and safe new year to you and yours....

MsBrown said...

Nice post. You've hit the nail on the head.

Craigjc said...

great post. It's about to be a cold 2009. Biblical even. You ready, folk?

CorporateHustler32 said...

I agree with you, whats important is that more people become socially aware to what is actually going on with the government, and also to figure out ways to stay afloat as well as take advantage of the situation. If you have any savings that you wont touch, look into some municipal bonds, they should provide great long term returns, that's gauranteed. Look into high interest savings accounts and CD's things like that. Cut back on spending on frivolous things.. etc.. great write up man..

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