Re: OT - So Michael...

"Michael Johnson" <cds@[EMAIL PROTECTED]
> wrote in message 
news:5eCdnWbds-Hm0jfanZ2dnUVZ_hisnZ2d@[EMAIL PROTECTED]
> Joe wrote:
>> Michael Johnson <cds@[EMAIL PROTECTED]
> wrote in 
>> news:1dGdncky_LTtSTTanZ2dnUVZ_rSrnZ2d@[EMAIL PROTECTED]
>>
>>> Joe wrote:
>>>> <big snip>
>>>>
>>>> And we've come full circle back to how to change the system so that
>> it
>>>> actually works...
>>> Looking at the past it seems to me that something catastrophic has to 
>>> occur to the general population before serious action is demanded by
>> the
>>> public.  You can see it happening with Obama.  His sup****ters really 
>>> want to believe the words coming out of his mouth but his is just a 
>>> typical tax and spend politician.  They think that since his skin is 
>>> black he will actually change things.  He won't change anything.  All 
>>> this stuff he claims he will deliver would bankrupt us in short order
>> so
>>> he isn't the answer.
>>
>> We're already bankrupt.  :)  BTW, thanks for trimming the thread.
>
> No problem on the trimming.  My scroll down key was getting ready to 
> suffer a heart attack.
>
>>> Like I said to Dwight, people will only demand real change when they
>> are
>>> punched square in the face by hard****p.  I think this day is coming
>> soon
>>> and will be brought about by the collapse of the social security
>> system
>>> resulting from the retirement of the baby boomers.  Then it will take
>> a
>>> leader that can clearly, effectively and truthfully explain the
>> problems
>>> and their solutions and promote them to act.  I also think this person

>>> will have to be outside the two party system.
>>
>> You've got a good point about social security.  I'm on the tail end, so

>> I'll probably get what I'm expecting (or close to it).  But when
younger 
>> people realize that they're paying into a system that won't return 
>> anything to them, maybe they'll actually force some change.
>
> I think it will hit many of the baby boomers.  Just wait until the day 
> comes when they need certain medical treatments and the government won't

> approve the it.  There is a gender war coming in this country.  It will 
> pit the working people against the retirees because the working people's

> taxes are going to go through the roof to pay for the entitlements of
the 
> boomers if they aren't trimmed substantially.
>
>> At any rate, I think the doomsday you speak of is right around the 
>> corner, at least fiscally.  Just a few observations:
>> * The housing market is in the crapper
>
> The housing market will rebound one more time, IMO.  Then the flood of 
> houses on the market from the boomers will be the real killer of the 
> housing market for quite some time.  Many won't be able to afford their 
> mortgages on social security checks and they don't have enough
retirement 
> savings to make up the difference.  They will be going to senior 
> apartments for the cheap rent.  The result is a continual flood of
housing 
> being dumped on the market for years and years.  The only thing that can

> possibly keep this from happening is to allow much more legal
immigration 
> to bolster up the work force numbers.
>
>> * The service sector is way down
>
> This will be OK, IMO.  The boomers will need a lot of services and many 
> will take the "Walmart greeter" type jobs to make ends meet.
>
>> * Inflation is edging higher
>
> I know you don't agree but so far inflation has been kept at bay
overall. 
> The government will do anything to keep inflation low and has done that 
> over the past several decades.
>
>> * Return on investments is in the crapper due to the fed's rate cuts
>
> This is a real problem area.  If we lose foreign investment capital then

> it will be real ugly for businesses.
>
>> * Banks and lenders are collapsing all over the place
>
> This will all shake out over time.  We have got through past banking 
> problems and this is just the latest one.  It is the possible lack of 
> foreign capital that could be the big problem for banks, IMO.
>
>> * We're about to enter a big, fat recession
>
> I don't know if I would say that just yet or how bad it will be.  The
rate 
> cuts will help but they take 6-12 months to show results.  I have been 
> saying for the past 1.5 years that the Fed has been extremely negligent
in 
> dealing with the housing market problems.  The economy can't continue to

> be healthy with such a large component tanking severely.  I'm in the
land 
> development business and can tell you the housing market is in VERY bad 
> condition.  Think of all the services and products associated with 
> building and furni****ng a new house.  It ripples through all kinds of 
> industries and service businesses.  It is now dragging the rest of the 
> economy down.  The feds should have started cutting the prime 18 months 
> ago.
>
>> Better buckle your seat belt.
>
> Let me tell you something.  With the housing market in horrible shape I
am 
> already fully **** hammered.  I can't get any lower and I might be
getting 
> a lot of company in the economic dungeon before long.  Shall I save
anyone 
> a seat?

Oh, you guys worry too much.

We're going to add 20,000,000 Mexicans to the tax rolls, so us tail-end 
boomers don't need to worry. It's the people in their 30s, possibly 40s, 
that can kiss Social Security goodbye.

dwight