FDIC Outlook

[mudmanc4]

  We all are aware of the severity of what has transpired, and what may be happening concerning America's financial situation, but the world money markets. There are major corporations folding everyday, let alone the dozens of unheard of smaller institutions going under.

What I would like to hear is your personal opinion about this very serious situation. Now please, this is not a partisan problem, right now , it is not a blame game, we need to slow down, and take a very close look at what is going on in each others lives, as well as all of our opinions.

  So if you can, or are willing, please discuss what you feel about what has happened, and where you think things are headed, and even what you think we can do, not only as a nation, but personally as well.

For me, things are tight, I have watched one of by businesses ( my main source of income, plastering/drywall contracting) lose over 95% of it's income. Not pretty at all.

We are struggling in all of or businesses, people are just not spending there one like they were. I have watched nearly 90% of my competition fold, there nowhere to be found. Even laborers are slim to none. I have three major jobs going on right now, one of which is a commercial account , I need 30 plus workers, I have called nearly every number I have , and two , out of over 50 people, and or contractors even had there phone turned on.

What are we going to do, are you going to take your finances out of the banks, will you take this time, since you have the advantage, to invest in some of the opportunities that are surrounding you right now?

I have started another business, i have to, I don't work for anyone, I create things to bring in revenue.

This is not a political thread, this is a personal issue we are all involved in.

[tommie gorman]

That is the way history works. Opinion of course from elders of the great depression. Times were actually better then. Credit is bad. Unless a house purchase is made. And buying to keep up with the jones' simply needs to stop. When it balances back out, then will times get better. Over borrowing is what caused black friday, and its simply a repeat. Like I and Roco have discussed. cash is king, and will be for a while. Borrowed money will soon be null. So find a solid way to make money I"d say. I figure everyone will always have to have a place to rent. So just hanging in there for now. Not getting ahead, but definitely not falling behind either.

Again, just my opinions. But ask some old timers that made it through the depression ok, and there you'll have your answer. Its not in  the books or media.