Rhino: The last shoe

There was a joke going around when I was a kid. I think it was new at the time.

This guy is a traveling salesman, see. And he goes to a boarding house and he meets a guy at dinner. After they eat and talk, the salesman climbs the stairs to his bedroom and unpacks. After a while, he sits on the bed, takes off one shoe and drops it on the floor. It goes BUMP. He thinks, that was inconsiderate. There might be someone sleeping below me. So he places the other shoe quietly on the floor.

A couple of hours later, he is awakened by a knock on his door. It's the guy he met at dinner. He's in his wrinkled pajamas and his eyes are bloodshot.

The other guy says, "For #$%^& sake, will you please drop the other shoe?!!"

-- And the rest is histrionics.

.

in CA anyways. Sign of things to come.

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Peace, Freedom and Prosperity. Not War, Welfare and Bankruptcy.

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I see what you explain Rhino as about the sign that we are 1/3 of the way to the bottom. This bubble has been building for 40 years, I think it will take 15 to get to the bottom of it as long as the government comes in and keeps propping up prices. I am no profit though.

I simply just don't see this unraveling to stop anytime in the near future, Japan hasn't ever recovered from the lost decade. We have trumped them in stupidity with bigger bail outs and stimulus.

I am not sure what is going to happen, but the bottom won't come until like Peter Schiff said...when the Dow Jones industrial average is less than the price for one oz. of gold. At that point I am not sure where we would go either...I would like to see the fed go bankrupt, but who knows what disaster looms around. We are in uncharted territory I am afraid.

I don't see these state insolvencies as a big deal. People worry about their fire department. I don't my town is protected by a volunteer fire department and we raise money for it as needed. The fire station is brand new bought and paid for with lots of new equipment. This volunteer fire department also has a very good ambulance and ems service.

If you live in a place with out a volunteer fire department, maybe you should consider moving or ensuring there will be some sort of fire protection. Molotov cocktails will be flying at some point.

The local Police officer also flys the "don't tread on me flag" So I feel pretty safe know he is on the beat!

schools...well if your kids are getting brainwashed by the state then maybe you need to find away to get them out of that.

We the people won't be inconvenienced too much, but there will be some unemployed bureaucrats.

I really don't see this getting any better until some serious generational war fare takes place, maybe even racial. The best Advice I give everybody is expect the unexpected...the unthinkable. That's mostly because our brains get indoctrinated into the bubble mania and we have forgotten what it takes to survive with out easy credit and exported inflation.

just my two cents

http://research.stlouisfed.org/fred2/graph/?s[1][id]=GPDI

bought land at freedom town put together by the Granny warriors?

Consumers Fall Behind on Loans at Record Pace
Reuters | 07 Jul 2009 | 10:55 AM ET

Soaring U.S. unemployment and a shrinking economy drove delinquencies on credit card debt and home equity loans to all-time highs in the first quarter as a record number of cash-strapped consumers fell behind on their bills.

Credit Card swipe

Delinquencies on the value of all card debt soared to a record 6.60 percent from 5.52 percent in the fourth quarter as more cardholders relied on plastic to meet day-to-day expenses, the American Bankers Association said.

Late payments on home equity loans rose to 3.52 percent from 3.03 percent, and on home equity lines of credit climbed to 1.89 percent from 1.46 percent.

A broader gauge showing late payments on eight categories of loans rose for a fourth straight quarter to a new record, edging up to 3.23 percent from 3.22 percent. That rate actually understates consumer pain because it excludes credit cards. The ABA tracks loan payments that are at least 30 days late.

Boom, Bust and Blame - The Inside Story of the Economic Crisis

"The biggest driver is job losses," ABA Chief Economist James Chessen said in an interview. "When people lose their jobs or work fewer hours, it makes it that much harder to meet their obligations. Unfortunately, we're going to see higher job losses in the next year, and I expect elevated delinquencies."

More:

http://www.cnbc.com/id/31775993

But I believe they are going to start a big war with Iran and North Korea, to help take our minds off of the economy.

What will a war do for our economy?

Adam Kokesh is the Man!
http://www.youtube.com/watch?v=fFQV2dgyXJE

Invest now in land, cattle, water, food, ammo, gold and silver and ride it out. I would look into HAM radio as well. Because when TSHTF, the internet is going down

You Judge A Tree By It's Fruit, NOT its Flower