I see an economic diasater coming...

[triffid]

Hi Big M, here is what  Larouch thinks of the Obama reelection.
http://larouchepac.com/home?n=24406&l=2




I personly think Obama will be better ,Like you said fewer shocks.Overall for the economy.I have been reading my financial books as fast as I can.I found some great Stuff.One great truth is that most Americans know very little about economics for the past 100 years.

[the_big_m_in_ok]

Hi Big M, here is what  Larouch thinks of the Obama reelection.
http://larouchepac.com/home?n=24406&l=2

I'll have to look at it further when I have more time.

I personly think Obama will be better

Well, I think they would have been about the same, but I would have preferred Obama, no matter what.

,Like you said fewer shocks.Overall for the economy.

Uh, that "Fiscal Cliff" has the potential to be devastating.   The ancient Roman Empire collapsed for some of the same reasons that we're doing to the economy now.   This time it's not the reduction of the money supply, it'll be the bank interest and the burden of debt that'll do the trick.

I have been reading my financial books as fast as I can.I found some great Stuff.One great truth is that most Americans know very little about economics for the past 100 years.

When I was in a high quality transitional homeless shelter for 2 yrs, in the local slum here in S.F., I had cable TV and CNN was one of the default channels.   I had plenty of opportunity to learn the basics of national and international economics.
       But, you're right.   People don't    even!   know what little I know and I'm not a professional economist, by any means.   I just have a good mind for how money works in this country.

--Lee

[triffid]

You are right.Bank debt will pull us all down!It should be just banks failing.Now its whole countries!Bank debt became the countries debt when we bailed them out!When china refuses to buy anymore of our debt.Thats when the ----- will hit the fan.triffid

[triffid]

I bought two more financial books yesterday.One is a real golden nugget,"Ordinary People-Extraordinary Wealth"
The 8 secrets of how 5000 ordinary Americans became Successful Investors -And you can too.cc. 2000,2001.by Ric Edelman.
He basically says anyone can become wealthy by following simple rules.The rich get richer he says because they do things that make them rich while the poor get poorer by doing things that make them poor.What I liked most about this guy is that he draws knowledge from his real life clients.Clients who were not born rich but had to get there on their own efforts.I had followed some of his rules eariler in my life
(I had read a different book) and I was always richer for it.
1) save 10 percent of what you earn
2)invest it in stocks
3)do it each month
4)pretend you don't have it
5)do this for eight years or longer.

[triffid]

http://www.ricedelman.com/  he has a website too!


he says:  The second issue, which pundits call the "fiscal cliff", is formally known as sequestration. In August 2011, Congress and the White House avoided (at the last minute) a government shutdown by agreeing to impose a strict reduction in spending starting January 1, 2013. Left unchanged, $1.2 trillion must be removed from federal spending over nine years according to the law.

The reduction in spending is meant to prevent the federal debt from increasing – it's $16 trillion and climbing. But instead of gradually reducing spending, the law (the Budget Control Act of 2011) imposes major, swift reductions in spending on January 1. So, instead of gradually reducing expenses over many years (imagine going down a gentle slope), federal spending will drop quickly (like falling off a ledge). In other words, a fiscal cliff.