[PenultimateManStanding]

So Wall Street's got money pouring into it a few years back. They push it on Mortgage companies and say, "Make the loans! No holds barred. Just make the freaking loans!" They make fat fees selling all these esoteric paper investments. The banks don't care because they just push the toxic paper along to pension funds, public investment funds (think Florida), Municipal Bonds, etc. It's all got AAA ratings because it's "insured" by bond insurance companies about to have their ratings dropped. Now the whole scheme is in the beginning stages of a total collapse.

So then, you've got good credit and companies sending you offers in the mail for $25,000 and $10,000 and so on. One could easily give in to the temptation and amass a 60 or 70 thousand dollar war chest to get all the stuff you need to survive a collapse for several years after the collapse and continue to make the payments for several years in the meantime before the financial/legal system collapses. What do you do? Do you say that's not ethical or do you say our world system is not ethical so screw it? It's a heavy decision isn't? Risky whatever you do.

[PenultimateManStanding]

It's certainly something I'm thinking about. Whose the putz in this anyway? I read of a woman who had two bankruptcy filings and still managed to get herself in for $150,000 a third time. What the hell is going on? What is this game? Whose the putz?

[mercurygirl]

Follow the money.

[DoubleD]

One method of dealing with a burgeoning population and diminished resources - is to warehouse the "extras" and have them essentially disappear. I do not intend to go to debtors prison - so as tempting as it sounds to join in and go bankrupt at the collapse with so many others... I think that is a club that I am going to avoid joining.

[PenultimateManStanding]

We've been collectively stealing from future generations of course, but two wrongs don't make a right. That said, though, the Law is a good deterrent and such a plan is criminal. The best option that I can see is to keep a lot of unused credit available and watch the news carefully.

[perdition79]

$this->bbcode_second_pass_quote('PenultimateManStanding', 'I')t's all got AAA ratings because it's "insured" by bond insurance companies about to have their ratings dropped. Now the whole scheme is in the beginning stages of a total collapse.

[PenultimateManStanding]

yeah, perdition. I agree with Mercurygirl: follow the money. The time is coming when stored food will be worth more than currency. As I said, it's risky whatever you do. Timing is everything.

[mercurygirl]

I just read an interesting take on the current situation in the markets.

Mideast and Chinese markets are inextricably linked to ours and are essentially bailing us out of what would otherwise be a mess. They have a lot of bail money. I'd guess this could continue on for a very long time. We're not going to crash anytime soon.

[PenultimateManStanding]

$this->bbcode_second_pass_quote('mercurygirl', 'T')hey have a lot of bail money. I'd guess this could continue on for a very long time. We're not going to crash anytime soon.

[threadbear]

The Chinese prop the American economy through purchase of U.S. treasuries. To continue to do so is importing inflation, on a massive scale, into their own country. Should they continue to act as the escape pressure volve for the U.S., they will experience worsening inflation. This might actually be as harmful as slowly disengaging from the dollar, and letting the U.S. twist in the wind.

[roccman]

$this->bbcode_second_pass_quote('PenultimateManStanding', 'O')ne could easily give in to the temptation and amass a 60 or 70 thousand dollar war chest to get all the stuff you need to survive a collapse ...