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To: Broken_Clock who wrote (87433)	9/30/2008 9:51:51 PM
From: axial	Read Replies (1) \| Respond to of 116555

We have no quarrel, and no debate. Agree with your comments on prudence. Sold the house and went to cash a year ago. No debt. But IMO this may get as bad as the Dirty Thirties: it's conceivable. In that case, prudence will not necessarily be enough. billcara.com Jim

To: Broken_Clock who wrote (87433)	10/1/2008 11:48:56 AM
From: Mike Johnston	5 Recommendations Respond to of 116555

Unfortunately, they will not do that. Just the opposite. They have been brainwashing the public for years, with ideas that are against the laws of economics. As a result , big chunk of population believe that inflation equals wealth. I believe they are on the verge of employing unconventional measures, that will be truly epic. They have the means, now that we've had a deflation scare, collapsing banks and a mini crash, they have an excuse and will have wide support. It will be done for "the good" of the country. But it will turn out to be a fatal blow.

To: Broken_Clock who wrote (87433)	10/1/2008 2:15:11 PM
From: Dan3	1 Recommendation Read Replies (1) \| Respond to of 116555

Re: If people were living within their means they would be able to ride this out. A lot of it depends on lifecycle. If you're in your 20s or 30s it makes a lot of sense to borrow for cars and houses. By your 40s you should be tapering off and in your 50s and onward should be living well within your means. It's not fair that people in their 20s and 30s should all be ruined by these financial events while those who happen to be in their 50's (and weren't nuts) are in great shape. For myself, and many of the people on this board, this is interesting, sort of like watching an exciting ball game, but if it were 20+ years ago, when I was deep in hock for my first house, it would be less fun.... A lot of that was just luck, not any special brilliance on my part. If you've always been able to make it without borrowing, my hat's off to you, but I know I sure wasn't. At one point I had home, car, and student loans all at once.