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My Granddad was a hard working farmer and was careful with his money. He lost his farm. I ask him why he lost his and the neighbors didn't. He said that he didn't owe but about half what his was worth and the neighbors owed most of what theirs was worth. The lender had a good chance of coming out on his so they foreclosed on him. The lenders had farms all over so they let him rent it. 3 years later he bought it back. The same lender wanted to finance it for him and you can imagine what he told them they could do with their financing.
 

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Unlocked and loaded
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Those were,

Hard times which we will face again, the bailout is just a stop gap measure which should not have been passed. Weakening our dollar more. Now we are doomed.

Keep your senses sharp and your weapon loaded and ready.
 

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Agent of Influence
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There's a difference between being doomed and facing hard times ahead.

We have faced disasters and collapses before. With foresight and grit we can ameliorate the impact against ourselves and our loved ones. If we thought otherwise, why bother prepping?

The case of a depression era farmer who was foreclosed and managed to buy back his farm in 3 years is pretty inspiring, it sounds almost too good to be possible, i'd love to hear more details.
 

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*** Forgives, I don't
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The bailout was just another jab in the a** to the working class. Vote against everyone in Office if they supported this.

They should have let the banks and wall street fall on their a**, took the 700 billion and started a CCC program. Alot of welfare receipents and drug dealers would either learn to work or starve to death. Revamp Congress, we need a 3rd Party.
 

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If your Rep or Senator voted for, vote them out. One of mine basically said 'this bill stinks, but I'm voting for it anyway'. What kind of b.s. is that? This senator was already on thin ice with me about some other votes, and this one is the deal-breaker. Won't get my vote again.
 

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Agent of Influence
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The way i understand it, the bank can't normally foreclose on a property unless the payments have fallen into arrears.

Is it different in America? Can a bank decide to call in the loan on a property at any time?
 

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A lot can be learned from those who lived through the Great Depression. My paternal grandparents often told me stories.

My grandfather was sent to a farm to as a teenager to work. It was a good week if you go 3 days of work. Breakfast and lunch were bread and water, dinner was the only real meal. Three things my grandfather alway had on hand: cash, stocked pantry and gun/ammo. I once asked him what he would stock up on if he new another depression was coming. Without hesitation he said, "Food!"

My grandmother was a little girl when she went to the bank with her mother to get their money out the bank. They were handed their money and the teller shut the window and said, "We are now closed. There is no more money in the bank." Til the day she passed she never trused the stock market or banks. I now know why. She would disappointed but not shocked but today's current events.

After the depression and WWII my grandparents got married. Both my grandparents were lower middle class at best. My grandfather worked in maintance for a local paper good manufacter. They never forget their lessons of the Depression. They paid off their mortgage in 10 years. They were big supporters of paying off your mortgage and having zero debt. I miss them both dearly.
 

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Q: Many people would indignantly say, "Today is not like 1929."

Bob Prechter: They're right. It's worse.

Q: Worse than in 1929. Why?

Bob Prechter: Because it seems better, of course. People are more optimistic than ever before, at least as far back as our data go. And look at the results. When but at a major top in worldwide social mood would you ever have had the Berlin Wall come down, communism rejected, sanctions lifted on South Africa and the idea of a "new world order"? This type of psychologically induced event on the world stage, including Mideast, IRA-English and Bosnian peace agreements, 20 American free trade agreements in 34 months and, in October 1995, a photograph commemorating the largest gathering of national leaders in world history, has continued right through today with the normalization of trade ties with China.

Q: This is bad news?

Bob Prechter: It's a huge top. At the bottom, international tensions will be high and include active conflict, as always. That will be bullish … which means for the future.

Q: What will be the prime indication that the great economic contraction is about to start?

Bob Prechter: The stock market will be the main indication. When the Dow heads down in a big way, we'll be off the cliff.
 

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CabinBuilder/Author
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Other reasons it'll be worse this time is
we don't have the good manners we had back then, we've become
a bit arrogant. We were more respectful of private property then.
Many think they are 'entitled'. The world owes us a living now.
People were more humble in 1929. We have a different 'attitude' now
and it isn't nice.

People will go biserk, crime will rocket, it won't be nice. Then will come
cries for someone to 'save' us. Hence cometh a dictator? Sig Heil
 

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Information is Ammunition
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The bailout was just another jab in the a** to the working class. Vote against everyone in Office if they supported this.

They should have let the banks and wall street fall on their a**, took the 700 billion and started a CCC program. Alot of welfare receipents and drug dealers would either learn to work or starve to death. Revamp Congress, we need a 3rd Party.
nobody likes the job anyone in office is doing- yet either they or their buddies (or at least collegues) are always elected or re-elected with out fail.

Don't kid yourself, fellas, it's a hidden nobility class, and you all know it
 
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Agent of Influence
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Many think they are 'entitled'. The world owes us a living now.
That's the key point.

People think they are 'entitled' to a fancy stereo system, wide screen tv, big car, air conditioning, enough food to feed an African village and all the rest.

When reality kicks in and the rest of the planet stops lending us the money to live like that and instead calls the bills in, people are going to be genuinely morally outraged at the hit to their undeserved lifestyles.
 

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The Hidden Nobility Class

nobody likes the job anyone in office is doing- yet either they or their buddies (or at least collegues) are always elected or re-elected with out fail.

Don't kid yourself, fellas, it's a hidden nobility class, and you all know it
You have it I have been trying to find the right words to explain my thoughts of them and you have said it,The Hidden Nobility Class who else can vote themself a pay raise in the middle of the night, fight on tv but behind close doors they are best friends looking out for themself's and the people who gave them the most money to get elected and their intrests.
We no longer have a Goverment "of the People by the people for the people". I want to know who will be held acountable for the bail out.,well enough crying over spilled milk.
 

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The way i understand it, the bank can't normally foreclose on a property unless the payments have fallen into arrears.

Is it different in America? Can a bank decide to call in the loan on a property at any time?
Yes.

Any bank can call in any mortgage at any time.

I have a mortgage on our apartment building. I have had many mortgages. I have never missed a payment. But at any time a bank can foreclose.

Both sets of my grandparents lost their farms in the same manner as the OP.
 
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