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Scarred for life...
3,295 Posts
Discussion Starter #1
To put things into perspective….

Lehman's bankruptcy filing is the biggest corporate bankruptcy in history in terms of assets held.

Merrill Lynch, in order to avoid a meltdown sold itself to Bank of America yesterday. A year ago, Merrill Lynch was worth around 200 Billion dollars. Today they sold themselves for a quarter of that value.

AIG insurance is teetering on having to declare bankruptcy.

Washington Mutual the nations largest savings and loan is also teetering on being taken over by the FDIC.

World stock markets are in freefall.

Folks, these are not lightweight companies who hit hard times. These are the cream of the crop, the biggest and strongest companies in the world and they are falling like flies.

Today may end up being one of those days where you remember where you were and what you were doing when it happened, "it" being the start of another great depression.

I remember where I was when Reagan was shot, the Challenger disaster, and 9-11.

The economy is in BAD shape people. The financial sector is really scrambling just to avoid a complete meltdown and they are starting to run scared.

I think it is kind of ironic that our government’s idea of helping is to basically print more money when that is the basic reason we are in trouble to begin with.

My "mode of operation" for much of the past year has been to prepare. Some months I was able to do a lot, some not so much. I feel lucky that I am not starting from scratch, like some. I have enough food to last me and mine about a year give or take. I am prepared in "other" areas, not as well as Id like, but again better than most.

Overall, my goal for the next two years is to survive. Ill keep my head down and concentrate on college, while I do my best to add to my preps when and where I can.

317 Posts
This is a very interesting day and it will be even more interesting to see how things fall out. How many more banks will go before the public loses faith and makes a run on the banks? How long until we start printing money to cover all this debt and have hyperinflation? I don't see us coming out of our recession anytime soon especially with these recent developments.
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