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Bank insider: overdrafts up, cash out, auto loans late...; entered at 2007-12-02 00:52:49

Pika-steph
Posts: 51467
Registered: 2007-09-11 Live Free Or Die; US Army Est. 1775

Quote:

Talk to some that have lived through it if you can and you will be very enlightened about what you can do to survive & even thrive.

Labor will get VERY cheap and don't worry, the illegals will go back to Mexico.

Ohana - EXACTLY what I've been trying to say on other threads. On both points.

Some of the elderly can give you quite some bizarre accounts (someone recounted a story of an old lady boiling down jelly to get the mold out)....but they have a wealth of valuable information.

From my observation, those 75 and up get it because they were old enough during the depression to remember the hardships. Those 65 and over that actually LISTENED to their parents, seem to be the 'first' of the boomers and they didn't get on the 'me', 'me', 'me' bandwagon. These guys are the ones withdrawing their money right now and who have reduced their debt, or eliminated it.

It's everyone that came after that, that never listened to their parents and grandparents who were like 'boomers gone wild' in the entitlement era. Those people are going to be desimated.

I lived for 6 years with my grandmother right out of high school. She died in 1989 at the age of 72. She told me a lot about the Depression from the American perspective and the British perspective. She had some pictures she would show me. Even though I just had no point of reference, it was always devastating to me to know she and my grandfather went through that. I did manage to learn all kinds of things that I'm sure are going to serve me well very shortly. My grandma would have removed her money from the banks 2 years ago.

Last modified: 2007-12-02 00:53:56 by pika-steph

2007-12-02 00:52:49