Louisiana Republican Rep. John Fleming told The Daily Caller that, ever since President Barack Obama’s re-election last Tuesday, he has been advising Americans to play it safe financially because he believes the economy — and the state of the country — may soon get much worse. Fleming said he’s telling concerned constituents and business owners to “not extend yourselves in debt, make sure that you pay off things, don’t get into debt with credit cards, stay as liquid as possible. Don’t take risk, and don’t get into debt. You need to stay less vulnerable economically over the next
Comments: I still feel like I´m living in a nightmare. I´m still sick with anxiety and anger over the disaster that has befallen this nation on November 6.
what´s "if country keeps going down the same path"! The country just voted for no change! As far as riots are concerned, many people don´t need a reason, they are always in readiness to justify their stand whether correct or not. Look at Chicago. People kill each other for no reason - ex. children sitting on porches, or just out walking.
Things will get worse, but how do you play it safe, with the currency destroyed, and few alternatives. With democracy and those that are responsible and save in the minority, everything will be redistributed as fast as it is deposited in the bank.
fta: After Obama’s re-election, Fleming said now it looks like “the American people chose to continue down that road, despite the fact that we have other countries ahead of us, like Greece, that are suffering massively.”
Call me a pessimist, but there are enough people in this country who want "free" stuff and no responsibility that going down that roar (at least for a while) is inevitable. There are some people who, despite all evidence to the contrary, will continue to believe that they can live in this make believe socialist utopia that the Liberals keep verbally dangling in front of them. It is likely that they will need to see the utter devastation that such a course will bring before they realize that their utopia is simply a fantasy -- and even then, there will be some who will still believe that it is all Bush´s fault.
Obama signed an exe. order a few weeks ago authorizing him to seize a bank if they´re doing business with Iran.That could be virtually any bank and who knows what he would do with the banks assets if he did seize them. There´s no ironclad place for your money,except under the bed or house safe,which a lot of people have now.
Dodd/Frank was supposed to stop too big to fail but capitalone recently bought ing driect and nobody noticed.
Fleming is correct. I have been preaching the same thing to my family and friends for years. It´s time to be very frugal and debt-free. Of course as more and more people realize this it will probably curtail any recovery. If the people who still have some money to spend delay buying a newer car or taking the grandchildren to Disneyworld, etc. it will certainly be felt (and there are millions of us).
Reply 11 - Posted by:
The Other Guy, 11/11/2012 11:55:35 AM (No. 9007154)
Believing that at some point in the downward spiral the "gimmes" will have reality slap them upside their heads is believing in a fantasy. Look to Greece for evidence. As near the bottom as their economy is, it´s the socialists, the "gimmes" that are rioting to stop any meaningful recovery efforts. Won´t be any different here. Changing this country´s direction, if it ever happens, will be a long, drawn out, violent campaign that lasts two generations, at a minimum. We´re out gunned by the majority of the media and our educational system and soon to be out numbered in population. My optimism died Tuesday.
It´s the looming inflation problem that will kick off the riots. Once it gets to the point where the average eater can only buy a couple buckets of KFC with his entire monthly EBT balance all hell is gonna break loose. If you don´t have at least six months of food and water and the means to protect it at the ready, I´d hurry to make it so.
It will be years before we reach the situation Argentina or Greece are experiencing. However, look for inflation, higher unemployment, and new fees (or higher fees) for government services. Probably like the Carter Years, but worse.
PS: I have heard some doctors have come up with a new way to make time for certain patients. For $100 a month, you can prepay for services. Puts you at the front of the line, instead of spending hours in the waiting room. I like it!
If the House does not cave & if the riots start America might wake up. There are 2 lines of thought: 1. Let the bottom fall out & riots begin or 2. Keep our conservative congressmen teaching the remaining listeners(young especially) what our Republic is & how it started. Romney´s campaign did not teach about our nation´s history or what would happen if we didn´t awaken. Late term abortions should have been explained on ads & Detroit,Chicato,NY & inner cities pictures should have been shown in all their ugliness. I think Romney did the best he could but it wasn´t nearly as patriotic as it should have been. WWI & WWII should have been presented & reasons America fought for freedom - it was not. We are not in charge & it is becomming very evident. II Chronicles 7:14
#4 I was at that same place last week. Feeling physically ill with the nervous stomach, plus I am recovering from a surgery too. I decided I couldn´t continue that way, so I did the only and best thing I could, and that is to remember that ultimately God is in control.
I believe everything happens for a reason, and we may not know the reason for this mess for awhile. So I have decided to concentrate more on taking care of my own and less on worrying about what´s going on with politics that I unfortunately can´t change.
We have to leave a lot of this in God´s hands, but still do what we can in our local communities.
This advice is completely 180 degrees wrong. If we are going to experience superinflation, and eventual devaluation of the USDollar, you want to owe as much as possible. Like wealthy Mexicans did when the Peso was devalued in the 1980s, the smart ones had debts in Pesos and assets in US Dollars. When the Peso went from 8 to $1 to 90 to a $1, their debts cost them 10cents on the dollar and their assets were 12x more valuable.
Gold would be a good asset, hard assets would be a good keeper of value (for sale at world market prices).
It is only cold comfort that those Obama voters who refused to consider the election choices, who refused to consider the recent history of the US, who refused to consider the core values of what makes America different from Europe....those Obama voters will be of the first to feel the effects of out-of-control inflation and unavailability of goods and services in the US.
He´s right. Once the "gimmies" run out of Obamaphones and other "free stuff" the riots will start. Hope they burn down their own neighborhoods first then the rest of us will have time to arm ourselves.
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