The Economy, crash, burn , yadda, yadda, yadda.
You know I can not say this enough. I know I have blogged some where here before about this.
Obama wants to raise your taxes to get us out of this mess. McCain wants to lower taxes, while restricting the free market.
Both candidates and parties want to get their hands on your money one way or another. That's the bottom line.
Right now both parties in congress are taking your money and giving it in aid to bailout poor decisions made by so called economist and bankers/mortgage companies. This is SO WRONG ON SO MANY LEVELS.
There are so many things here that contribute to this fiasco that the economy is in. We can blame the piss poor loans. The lack of integrity and morals on mortgages. The devious credit cards that people have way to many of. We can talk about foreign investors, or lack of. How the markets are interconnected.
In other words we can we can make as many excuses as you can imagine. Guess what? THEY ARE MAKING THESE EXCUSES. Blame Bush. Blame the democrats for being on control for the last two years.
Look economics 101 ------- either you have the money in hand or you don't! It is that simple. We have PhD economists counting their chickens before they hatch here. They call it economics but in reality it is false reporting of assets and a misrepresentation of funds. You can not loan someone money then count it as your own assets. It is plane and simple. You no longer have these funds, and there is no guarantee that you will get the money back. Default, bankruptcy, foreclosures? Do these ring a bell. This is why you can not count on the money until you have it in hand.
When you count this money you are lieing about your assets. This is what banks do and loan companies. They lie about the money they have. They are counting on everyone being able to make their payments and making them on time. Hope and dreams is what that is. Reality is different.
We are in this mess because of this practice. People are counting on projected funds instead of on hand funds. Or a gross versus a net value.
Look banks are out to screw you and so are loan companies. If they weren't then they would allow you to value yourself like they do. With a potential value of worth. Meaning that everyone has the ability to earn millions therefore you are worth millions. Instead they do a high intense rectal exam of your fiances (or they are supposed to) to determine your net worth.
Then they skew it just enough to lock you into a loan that is slanted in their favor for the next 5 to 30 years. Think about it.
On a car loan, it is annual percentage rate, figured annually. In other words they figure interest on the interest to make them selves money. How stupid are we for signing a contract on that. You are paying them money on money you are supposed to pay in the first place. kind of a bad viscous circle no?
So then the company you have the loan with takes this loan. On money or assets no longer in their possession and values it as income for them. Its fake, does not exists. The money or property is no longer in their possession and therefore should not be counted as hard value. It is nonexistent.
But they count it, add it into their quarterlies and say they have a worth of x instead of the real y value.
Wouldn't it be great if the average person could run their fiances like that. Write a check on something that is not there. You can't! Its called fraud. This is how the economy works in real life. However in the world of banking and corporate fiance they can write checks on nothing based on something that is not there.
This brings us back around to why the financial world is having problems. Over inflation of their financial worth. Writing checks on monies that they do not have, and claiming it as income.
So what do we as the average citizen and tax payer do. Well if I were you, get rid of those credit cards. Look at what you have on hand, not in stocks or in bonds. Invest in tangible items you can get your grubby hands on. Jewelery, gold, silver, items that have a value you can touch and feel.
Do not, do not buy things on credit. Do a cash only business. Credit is bad, cash is good!!
Do not put your savings into stocks. Look if a company goes under and you invest in it kiss your money goodbye.
Do not count on retirement accounts. If you have $100,000.00 in the bank and it goes under. FDIC will not cover the account if you are a penny over. Then its cents on the dollar in return. Now does this mean make a run on the bank? NO, NO, NO! What it does mean is get to the bank and diversify your money. Open several new accounts. So what if you have ten accounts all with a balance of $90,000.00. At least this way you have your money insured then, ( well if the government doesn't spend all the tax money it has reserved for insurance on more stupid bailouts).
You want someone to blame, look at you neighbor who just bought the over valued $500,000.00 dollar home and can not afford it. Now do not be mad at them for wanting the American dream. There is nothing wrong with that. Be mad at them for not being fiscally smart enough to afford it and are making you pay for it.
Obama wants to raise your taxes to get us out of this mess. McCain wants to lower taxes, while restricting the free market.
Both candidates and parties want to get their hands on your money one way or another. That's the bottom line.
Right now both parties in congress are taking your money and giving it in aid to bailout poor decisions made by so called economist and bankers/mortgage companies. This is SO WRONG ON SO MANY LEVELS.
There are so many things here that contribute to this fiasco that the economy is in. We can blame the piss poor loans. The lack of integrity and morals on mortgages. The devious credit cards that people have way to many of. We can talk about foreign investors, or lack of. How the markets are interconnected.
In other words we can we can make as many excuses as you can imagine. Guess what? THEY ARE MAKING THESE EXCUSES. Blame Bush. Blame the democrats for being on control for the last two years.
Look economics 101 ------- either you have the money in hand or you don't! It is that simple. We have PhD economists counting their chickens before they hatch here. They call it economics but in reality it is false reporting of assets and a misrepresentation of funds. You can not loan someone money then count it as your own assets. It is plane and simple. You no longer have these funds, and there is no guarantee that you will get the money back. Default, bankruptcy, foreclosures? Do these ring a bell. This is why you can not count on the money until you have it in hand.
When you count this money you are lieing about your assets. This is what banks do and loan companies. They lie about the money they have. They are counting on everyone being able to make their payments and making them on time. Hope and dreams is what that is. Reality is different.
We are in this mess because of this practice. People are counting on projected funds instead of on hand funds. Or a gross versus a net value.
Look banks are out to screw you and so are loan companies. If they weren't then they would allow you to value yourself like they do. With a potential value of worth. Meaning that everyone has the ability to earn millions therefore you are worth millions. Instead they do a high intense rectal exam of your fiances (or they are supposed to) to determine your net worth.
Then they skew it just enough to lock you into a loan that is slanted in their favor for the next 5 to 30 years. Think about it.
On a car loan, it is annual percentage rate, figured annually. In other words they figure interest on the interest to make them selves money. How stupid are we for signing a contract on that. You are paying them money on money you are supposed to pay in the first place. kind of a bad viscous circle no?
So then the company you have the loan with takes this loan. On money or assets no longer in their possession and values it as income for them. Its fake, does not exists. The money or property is no longer in their possession and therefore should not be counted as hard value. It is nonexistent.
But they count it, add it into their quarterlies and say they have a worth of x instead of the real y value.
Wouldn't it be great if the average person could run their fiances like that. Write a check on something that is not there. You can't! Its called fraud. This is how the economy works in real life. However in the world of banking and corporate fiance they can write checks on nothing based on something that is not there.
This brings us back around to why the financial world is having problems. Over inflation of their financial worth. Writing checks on monies that they do not have, and claiming it as income.
So what do we as the average citizen and tax payer do. Well if I were you, get rid of those credit cards. Look at what you have on hand, not in stocks or in bonds. Invest in tangible items you can get your grubby hands on. Jewelery, gold, silver, items that have a value you can touch and feel.
Do not, do not buy things on credit. Do a cash only business. Credit is bad, cash is good!!
Do not put your savings into stocks. Look if a company goes under and you invest in it kiss your money goodbye.
Do not count on retirement accounts. If you have $100,000.00 in the bank and it goes under. FDIC will not cover the account if you are a penny over. Then its cents on the dollar in return. Now does this mean make a run on the bank? NO, NO, NO! What it does mean is get to the bank and diversify your money. Open several new accounts. So what if you have ten accounts all with a balance of $90,000.00. At least this way you have your money insured then, ( well if the government doesn't spend all the tax money it has reserved for insurance on more stupid bailouts).
You want someone to blame, look at you neighbor who just bought the over valued $500,000.00 dollar home and can not afford it. Now do not be mad at them for wanting the American dream. There is nothing wrong with that. Be mad at them for not being fiscally smart enough to afford it and are making you pay for it.
