I can honestly say after writing a few numbers down....

[Crazy Dave]

I personally know just as many people (that I'm in contact with regularly) out of work or barely working as I do who are still working full time but they're getting nervous too.

Things seem to still be declining and I don't think we've seen the worst yet.

[LakeSamish706]

1. And one of the major disturbing things is the lack of savings of most Americans.... n/t

[Crazy Dave]

2. That and using credit cards to pay the bills

Two people I know have already had to cash in their CD's and IRA's just to pay their bills. One friend is now using his credit cards to pay his bills and applying for more as those are going to be max'ed out soon. He knows that this is a bad thing but there's nothing else he can do working only 20 hours a week if his company even has that. Except lose his home, his cars, stop feeding the family, etc. At least his work is paying for most of his family's health insurance but they'll be out of business by the summer he's been told if things stay the way they are. It's a company that's been in business for over 40 years and he's been with them since '94.

Sad.

[Paranoid Pessimist]

3. As one who does have a bit of savings . . .

I can't help but think of 1929 and the years that followed when banks failed and people's savings "disappeared." Anyone who thinks "it can't happen here" or now, isn't paying attention.

Years ago I worked for one of the large international banking corporations and ever since I've been telling people that big financial institutions are criminal conspiracies. The only reason they aren't all in jail is that they're rich enough to buy off the legislators and cook the lawbooks in their favor.

If the international banking system should fail, you can count on the fact that they who run things will have stashed away enough liquid asses to assure that they will not participate in the widespread economic chaos.

Recommended video: Money as Debt

http://video.google.com/videoplay?docid=-90504743625834...

[Paranoid Pessimist]

6. Oops, Bad link. Go to video.google.com, search Money as Debt

[OhioChick]

4. A Friend

of mine uses one credit card to pay for utilities, the other credit card to pay for medical costs, the next credit card to pay the payment on the first credit card, etc. You get the picture.

[Crazy Dave]

7. See post #2

:hi:

[OhioChick]

9. Yes, Same Scenerio......

My friend already took a second mortgage on her home a while back. They just cut her hours to part time, has 3 kids and is deathly afraid of losing her home and car. Bad times for many.....too many. Also....her husband got laid off some time back and can't find a damn job anywhere, not to mention that his umemployment benefits ran out long ago.

[Rosemary2205]

11. This was me

I had 2 years of bills set aside. A remarkable feat for someone in my economic level. Then the car accident and not only the normal bills but huge amounts of medical costs. That 2 years of bills disappeared in 9 months.

I was fortunate in that my sister's family needed to get out of Michigan and decided my house in Atlanta as a good a place as any. I would have lost everything if it wasn't for them but still came inches from bankruptcy.

I worked hard, lived small, and saved my money all my life. It didn't help much when life hit the fan. I'm not saying don't save, of course not. But there are situations in life that just CAN'T be planned for and that is when people either end up in government care of some sort (SSDI, state institutions, prison....) or else they run up credit as a way to survive. Some do end up on the street. Saving is important but it's not the panecea it's made out to be.

[LakeSamish706]

5. I tell you folks, the outrage by middle class Americans has to come soon...

And when it does, look the hell out cause the shit is going to hit the fan big time.

[NightWatcher]

8. After all the jokes about fleeing the country, me & SO are looking at jobs with foreign companies

that pay in euros. I always hoped to retire outside of the USA, but the fact that I am researching becoming a finacial refugee and leaving the country has me surprised.

[Crazy Dave]

10. No surprise to me

My wife and I already had planned our retirement living abroad but in your situation you've expedited the move. We see people in their mid 70's still working because they cannot afford all their medical bills and prescriptions that medicare doesn't pay for. We're not going to put ourselves through that.