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Overunity Machines Forum



I see an economic diasater coming...

Started by the_big_m_in_ok, September 03, 2009, 01:05:30 AM

Previous topic - Next topic

0 Members and 3 Guests are viewing this topic.

Do you think the American economy will ever improve?

Yes, definitely
Possibly, in the long run
No, it will worsen
Undecided

triffid

Most people are unable to raise their own food for lots of reasons.Do pick a place with water.Not Arizona where its so dry.I was there for two weeks in winter.Not so bad heatwise then but soooo dryyyy.
I would pick a place near a river.For water and fish.If you have a boat you could travel a little?Learn which wild plants can be eaten.I am collecting scrap gold again.Have about $150.00 worth now.At $1700 an oz.Going back up a little from $1625 oz.If it shoots up to $3,000 an oz then I have $300.00 worth.triffid


triffid

The four largest banks in the USA are Wells Fargo,Bank of America,JPmorganchase, and Citizengroup now after the bailout hold 7.4 trillion dollars in assets.Just four financial institutions have assets worth 52 % of our total output in 2009.Instead of breaking them up we just let them get bigger.It turns out the six largest banks in our economy have total assets in excess of 63 % of our GDP.
No wonder bank of America acts the way it does.Not allowing people to close their accounts if they want to.
15 years ago the six largest banks had 17% of GDP.


triffid

More than 8 million people receive Social Security Disability Insurance, which is awarded to people who are unable to work because of a long-term physical or mental disability. But qualifying is no easy task, says John Roberts, manager of Myler Disability, an advocacy group. Only 30% who applied in 2009 were awarded benefits, down from 44% in 1999, according to agency data.

Some of that change can be attributed to more people applying for benefits â€" 2.8 million in 2009 compared to 1.5 million a decade earlier. That's common when the economy is tough, says Gustman: The number of applications rises, along with an increase in claims that fall short of the agency's standards. Even for people with true and serious disabilities, it can be difficult to qualify. The process can take years and often requires legal help. Most people have to wait for a hearing, says Roberts: "Best case, it is 18 months before you get approved." In some cases, the battle goes to federal court.

To improve your chances, Roberts recommends applying for benefits as soon as you become disabled. Waiting too long could leave you in a situation where you haven't worked long enough to qualify for disability benefits. You must generally have worked at least three to ten years before you became disabled, depending on your age. The spokeswoman for the Social Security Administration says it does not pay benefits for partial or short-term disability and taxpayers must be able to show that they cannot do work they did before or adjust to other work because of their medical condition.

6. "You can be unemployed and retired."

A growing number of people in their 60s are collecting unemployment and Social Security benefits at the same time. Since 2002, seventeen states have changed the rules to allow people to qualify for more unemployment benefits while they receive Social Security, according to the National Employment Law Project, which has advocated on behalf of allowing seniors to claim both. It's perfectly legal; you just have to report the income to both agencies.

There is no clear data on how many people are drawing both. About 10% percent of people who collected unemployment benefits in 2010 were 60 or older, according to the Department of Labor; the minimum age to collect Social Security retirement benefits is age 62. For those who qualify, the option has obvious appeal for older Americans struggling to find work in today's weak job market. "We are generally talking about older workers who lose their jobs involuntarily, who are trying to survive," says George Wentworth, an attorney with the National Employment Law Project.

Receiving unemployment benefits doesn't affect your Social Security payments, but the reverse is not always true: In some states, collecting Social Security can reduce your unemployment checks. In Illinois, Louisiana, South Dakota, Utah and Colorado, your unemployment benefits can be reduced by half of your monthly Social Security benefit.