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maxingout · 23-11-2007, 17:51

According to CNN, shoppers just spent twenty-billion dollars today, the day after Thanksgiving.

I am calling this day "Lemming Friday".

Gas is over $3.00 per gallon. An epidemic of mortgage forclosures sweeps across the land. The dollar is falling like a rock. Credit cards are maxed-out. Forty-seven million people don't have health insurance. A trillion dollars has gone down the tubes in Iraq. The average cost of health insurance for a family of four is $12,000 per year in some locations. Our jobs are being shipped overseas to China.

And in spite of it all, we spent $20 billion today on consumer items. All day long, I felt like I was watching lemmings jump off a cliff into the sea.

Vasco · 23-11-2007, 17:59

Cheer up. It's not as bad as you paint it. If you don't want to shop don't. Your problem is that you watch CNN. There's more than a bit of irony in your signature lines.

Therapy · 23-11-2007, 18:03

It then becomes obvious that although in debt we have a lot of money to spare. We spend little on the essentials and much on "wants".

And by using the word "we" I include myself as an American only.
I am not a good consumer at all.

TaoJones · 23-11-2007, 18:18

Quote:

Originally Posted by Therapy

It then becomes obvious that although in debt we have a lot of money to spare. We spend little on the essentials and much on "wants".

Not really, Therapy. Not if the brilliant video that Rick commended to the members here on the Value of the Dollar thread is accurate - and I know of no reason to doubt it.

Quote:

Originally Posted by rickm505

The following link is the best explanation I've seen about our slowing economy and the loss of value of the dollar. The essense of the video is tracking inflation adjusted expenses a family of 4 has to deal with over a period of time.. 1971 - 2004. She tracks two groups of expenses. 'Fixed' expenses like housing costs and variable expenses such as food and clothing. The results are nothing short of amazing. This is a good explanation of what happened to the single income family and why, as well as extending this data set into the current economy.

At the time of this post it's the first item in the list.

"The Coming Collapse of the Middle Class: Higher Risks, Lower Rewards, and a Shrinking Safety Net "

UCTV--University of California Television

They are all related

PS... for those folks inclined to comment without watching the lecture. Her 'numbers' aren't hers. They come from the US commerce dept and dept of BLS. They are all complied government numbers. -- Rick

I highly recommend that those interested watch it, and think deeply about what the lecturer is saying. The trend her lecture illustrates is very unsettling.

TaoJones

PS: Congratulations, Rick (Vasco), on gaining your fifth star!

Therapy · 23-11-2007, 18:44

I just tried two of the links and the volume won't go up high enough for me to hear it. I raised all of the system volume to the max also.

Any ideas?

I cannot hear what she is saying.

TaoJones · 23-11-2007, 19:03

Quote:

Originally Posted by Therapy

I just tried two of the links and the volume won't go up high enough for me to hear it. I raised all of the system volume to the max also.

Any ideas?

I cannot hear what she is saying.

Hmmmmm . . . do you have any Q-tips and hydrogen peroxide? My late mother was a devoted user of same to clean her ear canals . . . oh, wait, she was practically deaf by the time she was 60. Never mind.

Seriously, I don't know what the problem might be, Therapy. I watched the lecture this morning by following the same link, and I encountered no problems.

I wish I could offer something more constructive than peroxide and Q-tips. I hope you'll keep trying the link, and that you have better luck.

TaoJones

Vasco · 23-11-2007, 19:12

Tao,

Thanks for the congrats. Don't know what the stars mean. Is it like being back in kindergarten again? Just checked the counter this is my 1000th post. I gotta get a life.

delmarrey · 23-11-2007, 19:15

And so, what can we do about it????

Just as I thought! Apathy!

Most of this country is either in denial or nieve, especially the shoppers. And we know who they are.

The media mongers, who only know what they hear on TV or radio. And who are too lazy to do their own research.

There are a select few who really know what's going on and they are taking what action they know best for themselves.

I have a saying that I attempt to spread; "The purchase of every chinese product is just another bullet in their armory".
Revelation 12:

How's that for some eschatology

TaoJones · 23-11-2007, 19:30

Quote:

Originally Posted by Vasco

Tao,

Thanks for the congrats. Don't know what the stars mean. Is it like being back in kindergarten again? Just checked the counter this is my 1000th post. I gotta get a life.

I think it's more like being back in the Navy again, Vasco. Now that you have your fifth star, you're entitled to double shots at the Officer's Club bar at the single shot price!

TaoJones

Therapy · 23-11-2007, 19:32

Quote:

Originally Posted by delmarrey

And so, what can we do about it????

I have a saying that I attempt to spread; "The purchase of every chinese product is just another bullet in their armory".
Revelation 12:

How's that for some eschatology

I agree.
Where do you have your money?
That is what I want to know.

Therapy · 23-11-2007, 19:35

Quote:

Originally Posted by TaoJones

I think it's more like being back in the Navy again, Vasco. Now that you have your fifth star, you're entitled to double shots at the Officer's Club bar at the single shot price!

TaoJones

I have not been here that long and I have four.
What is up with that?

TaoJones · 23-11-2007, 19:41

Quote:

Originally Posted by Therapy

Where do you have your money?
That is what I want to know.

Is that so you can put your money there too . . . or so you can go there and take his?

On the link referenced above, Therapy, I tried it again after reading of the problems you were having, and I can't get it to open at all, so . . . perhaps you could tune in to the "Watch UCTV Live" broadcast when that lecture is on again. I'm pretty sure the times given are Pacific Standard Time.

TaoJones

Therapy · 23-11-2007, 19:46

Quote:

Originally Posted by TaoJones

Is that so you can put your money there too . .

Yep.
Not to scared to follow a good lead.
Problem is that most people will not tell you.
I don't know why unless it is because they are embarrassed at their poor performance even though most all "professional" investors are poor at it.