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Linus View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Linus Quote  Post ReplyReply Direct Link To This Post Posted: 08 August 2011 at 8:35pm
Meh, my job is rather recession proof. Always will be idiots running in to eachother or doing other stupid things.



However, my family's business is dependent on discretionary income being spent.... soooo.... I'd rather not see my parents, brother, sister, brother in law, and 50 other employees lose their income...

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Post Options Post Options   Thanks (0) Thanks(0)   Quote mbro Quote  Post ReplyReply Direct Link To This Post Posted: 08 August 2011 at 9:40pm
Weird, lots of buying in the bond market, not selling. It's almost like S&P was wrong and the market knows it.

Don't blame me, I voted for Kodos.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote tallen702 Quote  Post ReplyReply Direct Link To This Post Posted: 08 August 2011 at 11:17pm
Originally posted by mbro mbro wrote:

Weird, lots of buying in the bond market, not selling. It's almost like S&P was wrong and the market knows it.


No, S&P is right. The reality is that the downgrade is going to affect exactly how much the US can borrow and at what interest rate. That interest rate affect the prime rate which determines the rates on everything from student loans to cars to credit cards and mortgages. The increase in interest rates across the board will mean it will cost more to manufacture goods which in turn means higher costs for the consumer equaling lower purchases and lower profits. The rush wasn't just on the bond market. Commodities got crushed with Gold, Silver, and Platinum purchases today while things like oil took a nosedive. Despite the government's credit rating dipping to AA+, treasury bonds are still one of the safest places to park your money as they are the first things to get paid back by the gov't. The S&P and Moody's are right, our government can't be trusted to resolve financial issues and make their payments properly. It's bad news for the rest of us. It's time to vote every last party member out of office and staff the Hill with independents who care more about the people they represent than their own special interests. Only then will we be able to balance our budget and pay back the money we owe.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Lightningbolt Quote  Post ReplyReply Direct Link To This Post Posted: 08 August 2011 at 11:28pm

Well said tallen.   

I wonder what it's like to bundle a giant stack of money into a lazy-boy recliner on a 100 foot yacht and just sit on it while happily sipping on a fu fu drink with an umbrella in it.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Rofl_Mao Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 12:23am
NASDAQ 2357.69  -174.72  -6.9%
DJIA 10809.85  -634.76  -5.55%
S&P 1119.46  -79.92  -6.66%

Single largest drop in one day for the Dow since December 2008.


Edited by Rofl_Mao - 09 August 2011 at 12:25am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote tallen702 Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 12:40am
Originally posted by Lightningbolt Lightningbolt wrote:

Well said tallen.   

I wonder what it's like to bundle a giant stack of money into a lazy-boy recliner on a 100 foot yacht and just sit on it while happily sipping on a fu fu drink with an umbrella in it.



Ask congress, they're apparently the only ones not worried over this crap. Seriously, they haven't got a clue. Not one single one of them, democrat or republican has taken the time out from pointing fingers at each other to say "My bad, we effed up and let the important stuff creep up on us because we were too busy bickering over whether our president has a valid birth certificate and whether we should let gays and lesbians be just as miserable in marriage as straight people."

I'm seriously ready to say "eff all of them" and start some grass roots movement to wipe the slate.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Linus Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 1:15am
Nothing should be exempt from cuts.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote tallen702 Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 2:19am
Originally posted by Linus Linus wrote:

Nothing should be exempt from cuts.


How do you feel about not allowing corporations making billions every quarter exemption from taxes?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Lightningbolt Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 6:42am
It's really good to see a "bi-partisan" attitude here now.  However, the answer doesn't lie in what these yay'hoo's should do but rather how they need to refrain from doing anything at all.  Or we could employ the 180 Doctrine.  Like tallen said, this is a really good opportunity for our decision makers to flat-out admit their faults, then correct path that they are forcing us/me down.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Lightningbolt Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 8:55am
Originally posted by tallen702 tallen702 wrote:

Originally posted by Lightningbolt Lightningbolt wrote:

Well said tallen.   

I wonder what it's like to bundle a giant stack of money into a lazy-boy recliner on a 100 foot yacht and just sit on it while happily sipping on a fu fu drink with an umbrella in it.



Ask congress, they're apparently the only ones not worried over this crap. Seriously, they haven't got a clue. Not one single one of them, democrat or republican has taken the time out from pointing fingers at each other to say "My bad, we effed up and let the important stuff creep up on us because we were too busy bickering over whether our president has a valid birth certificate and whether we should let gays and lesbians be just as miserable in marriage as straight people."

I'm seriously ready to say "eff all of them" and start some grass roots movement to wipe the slate.

I was actually speaking about huge private sector money that creates jobs and stimulates the economy to allow chumps like me to stimulate the economy.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote impulse418 Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 11:39am
Originally posted by Linus Linus wrote:

Meh, my job is rather recession proof. Always will be idiots running in to eachother or doing other stupid things.


Unless you are selling guns, ammo, and dried foods. Your job is expendable.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote oldpbnoob Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 12:02pm
Originally posted by impulse418 impulse418 wrote:

Originally posted by Linus Linus wrote:

Meh, my job is rather recession proof. Always will be idiots running in to eachother or doing other stupid things.


Unless you are selling guns, ammo, and dried foods. Your job is expendable.
Right because this country will be thrown into a post apocolyptic Mad Max world because we go into a recession. 
"When I grow up I want to marry a rich man and live in a condor next to the beach" -- My 7yr old daughter.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote High Voltage Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 12:06pm
I'd rather get some Resident Evil: Extinction action going. Screw Mel Gibson.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ParielIsBack Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 12:16pm
People are buying T-Bills at a lower rate today than they were yesterday day (ie: reduced return).  At least in the short/mid-term, nobody is worried about the US defaulting on any debt.
 
S&P (I don't know why you mentioned Moody's; they put out an article yesterday confirming the Us's AAA rating) may be right in the long run, but for now US debt is an extremely secure investment in the eyes of the market.  It's going for less than a percent above projected inflation.  It doesn't get lower than that.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote impulse418 Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 12:35pm
Originally posted by oldpbnoob oldpbnoob wrote:

Originally posted by impulse418 impulse418 wrote:

Originally posted by Linus Linus wrote:

Meh, my job is rather recession proof. Always will be idiots running in to eachother or doing other stupid things.


Unless you are selling guns, ammo, and dried foods. Your job is expendable.
Right because this country will be thrown into a post apocolyptic Mad Max world because we go into a recession. 


No, these will be the things people will buy long before that.

Cops, firefighters, EMT's, you know "job security" positions. Are getting laid off left and right. Just because we need them doesn't mean we can pay them.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote oldpbnoob Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 12:53pm
Originally posted by impulse418 impulse418 wrote:

Originally posted by oldpbnoob oldpbnoob wrote:

Originally posted by impulse418 impulse418 wrote:

Originally posted by Linus Linus wrote:

Meh, my job is rather recession proof. Always will be idiots running in to eachother or doing other stupid things.


Unless you are selling guns, ammo, and dried foods. Your job is expendable.
Right because this country will be thrown into a post apocolyptic Mad Max world because we go into a recession. 


No, these will be the things people will buy long before that.

Cops, firefighters, EMT's, you know "job security" positions. Are getting laid off left and right. Just because we need them doesn't mean we can pay them.
I think you would have to be in a pretty dire position before you see significant layoffs in the Police, fire, and medical fields. People are always getting drunk, beating the crap out of each other and setting their crap on fire, so there is always a need. There may be a slight uptick from people like you with the guns, ammo and dried foods sales, but most people are normal and don't buy into the doomsday scenario crap.
"When I grow up I want to marry a rich man and live in a condor next to the beach" -- My 7yr old daughter.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ParielIsBack Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 1:38pm
I wish that was the case, OPB.  108 (which includes almost 1/3 of patrol officers) officers are getting laid off in Trenton, one of the worst cities in the state, because they can't afford them.  It's going to get ugly without those guys (and gals) on the street.  Granted, that's not statewide or anything, but it still seems pretty serious to me.
 
People really don't seem to understand the importance of our civic infrastructure (or our physical infrastructure for that matter), because if they realized how much this is going to hurt us down the road they'd just pay for it.


Edited by ParielIsBack - 09 August 2011 at 1:41pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote deadeye007 Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 2:02pm
OPB. Police and Firefighters are getting laid off. Cities like Detroit cut OT for police services which in the long run destroy conviction rates on major crimes like homicide. Linus is a paramedic. Most EMS services are private companies so I think he job will have more security than most. Remember Washington DC was so short handed they tried to make firefighters do the job for the police.
Face it guys, common sense is a form of wealth and we're surrounded by poverty.-Strato
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Post Options Post Options   Thanks (0) Thanks(0)   Quote oldpbnoob Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 2:18pm
I havent seen or heard about much in the way of cuts here locally. We lost a couple of teachers, but mainly through not allowing retire-rehires. Of course I think we only have 2 full time officers in our village and two or three part time, so not much to cut here. I never understood the point of OT for police officers or others. Seems stupid to pay someone time and a half when they could just hire someone else in. Regardless, I am sure there will be some cuts, but you have to cut something. Seems like no one wants to pay more in taxes and no one wants to take cuts so we are pretty much screwed.
"When I grow up I want to marry a rich man and live in a condor next to the beach" -- My 7yr old daughter.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote stratoaxe Quote  Post ReplyReply Direct Link To This Post Posted: 09 August 2011 at 5:18pm
Unfortunately, much of the job security those in the medical profession relied may be compromised by the sheer number of people resorting to it as a last ditch attempt at job security. Kind of an ironic catch 22 there.

Also...there's this ongoing issue of people being discharged from the military. I'm too lazy to look up exact numbers, but I'd be willing to bet LOTS of them will be going to police, fire, and EMS jobs. I think I heard 10s of thousands just in the central Texas area.

All of that aside, I think the medical field is still fairly safe for now. As far as dried food and firearms sales...this is a recession not post nuclear war survival. Despite what Glenn Beck says, we're still a long way from murdering each other for canned ham.
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