Comments on: The National Debt: The mortgage meltdown x 10? http://funny-about-money.com/2008/08/13/the-national-debt-the-mortgage-meltdown-x-10/ Simple Living = Frugality = Peace of Mind: Personal Finance and Stress Control Thu, 11 Mar 2010 17:26:00 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: WealthiHer» Blog Archive » Weekend Link Love http://funny-about-money.com/2008/08/13/the-national-debt-the-mortgage-meltdown-x-10/comment-page-1/#comment-1848 WealthiHer» Blog Archive » Weekend Link Love Mon, 15 Sep 2008 02:56:20 +0000 http://funnyaboutmoney.wordpress.com/?p=410#comment-1848 [...] The National Debt: The Mortgage Meltdown x 10? [...] [...] The National Debt: The Mortgage Meltdown x 10? [...]

]]> By: Kate@LivingTheFrugalLife http://funny-about-money.com/2008/08/13/the-national-debt-the-mortgage-meltdown-x-10/comment-page-1/#comment-1846 Kate@LivingTheFrugalLife Mon, 25 Aug 2008 13:26:07 +0000 http://funnyaboutmoney.wordpress.com/?p=410#comment-1846 I'm pretty much right there with you in terms of your plans for surviving the meltdown. The few other things that I am trying to do to prepare include learning to produce my own food, keep animals for eggs and meat, learning to slaughter those animals, learning to can and preserve food in other ways, planting fruit and nut trees and perennial vegetables, and just generally acquire skills that may some day make the difference between eating and staying warm, or not. A few years ago, this plan also led me to relocate to a part of the country with rich agricultural land where dry farming was very feasible. Scary times ahead, I'm afraid. -Kate I’m pretty much right there with you in terms of your plans for surviving the meltdown. The few other things that I am trying to do to prepare include learning to produce my own food, keep animals for eggs and meat, learning to slaughter those animals, learning to can and preserve food in other ways, planting fruit and nut trees and perennial vegetables, and just generally acquire skills that may some day make the difference between eating and staying warm, or not. A few years ago, this plan also led me to relocate to a part of the country with rich agricultural land where dry farming was very feasible.

Scary times ahead, I’m afraid.

-Kate

]]> By: Scott http://funny-about-money.com/2008/08/13/the-national-debt-the-mortgage-meltdown-x-10/comment-page-1/#comment-1847 Scott Mon, 25 Aug 2008 02:37:22 +0000 http://funnyaboutmoney.wordpress.com/?p=410#comment-1847 If you read the book "Crash Proof: How to Profit From the Coming Economic Collapse", the author comes to the conclusion that you should invest in foreign investments. Put some of your savings in places that dont have the same economic problems like China, Europe, and Japan. And if investing in foreign stocks, stay away from companies that do significant business with the United States. It's an interesting read if you are scared about the future. If you read the book “Crash Proof: How to Profit From the Coming Economic Collapse”, the author comes to the conclusion that you should invest in foreign investments. Put some of your savings in places that dont have the same economic problems like China, Europe, and Japan. And if investing in foreign stocks, stay away from companies that do significant business with the United States.

It’s an interesting read if you are scared about the future.

]]> By: Personal Finance Posts I Enjoyed This Week | MoneyBeagle.com http://funny-about-money.com/2008/08/13/the-national-debt-the-mortgage-meltdown-x-10/comment-page-1/#comment-1845 Personal Finance Posts I Enjoyed This Week | MoneyBeagle.com Sat, 23 Aug 2008 13:45:48 +0000 http://funnyaboutmoney.wordpress.com/?p=410#comment-1845 [...] Money wonders if our national debt will end up causing a mess similar to the current mortgage [...] [...] Money wonders if our national debt will end up causing a mess similar to the current mortgage [...]

]]> By: Curt http://funny-about-money.com/2008/08/13/the-national-debt-the-mortgage-meltdown-x-10/comment-page-1/#comment-1844 Curt Tue, 19 Aug 2008 15:52:51 +0000 http://funnyaboutmoney.wordpress.com/?p=410#comment-1844 America's decline will be brutal. We will eventually need to rebuild our manufacturing sector and our educational system. It would be wise to invest or start a business in these two industries. America’s decline will be brutal. We will eventually need to rebuild our manufacturing sector and our educational system. It would be wise to invest or start a business in these two industries.

]]> By: funnyaboutmoney1 http://funny-about-money.com/2008/08/13/the-national-debt-the-mortgage-meltdown-x-10/comment-page-1/#comment-1842 funnyaboutmoney1 Mon, 18 Aug 2008 15:44:27 +0000 http://funnyaboutmoney.wordpress.com/?p=410#comment-1842 Sigh. True, Miranda. About the military, though: fact is the military was greatly downsized during the years leading up to 9/11, and benefits were widely cut or made stingier. Many career military people quit or retired at the earliest possible moment. This likely is one reason we entered the Iraq conflict with too few troops to do the job. I don't want my taxes raised, either, but realistically if you're going to raise government spending, as the current administration has done, you can't cut the government's revenues, any more than you as an individual can reasonably spend more money without increasing your income. You can, but you'll end up in debt over your head: exactly as the US government has done. In a democracy or a republic, the government is a device for people to come together to make life better for everyone. We pay our taxes to get services and benefits that we could not easily provide for ourselves. When you short funding for the government by reducing taxes, then some or all of those services and benefits must go away. The military is a service whose purpose is to keep us safe from sovereignties bent on harming us; if we decide to go to war, we need to pay the costs of maintaining the military, and the only way to do that is to pony up some taxes. A leadership that refuses to see that is short-sighted, not to say moronic. We are now facing the consequences of adopting a short-sighted and foolish ideology. Sigh. True, Miranda. About the military, though: fact is the military was greatly downsized during the years leading up to 9/11, and benefits were widely cut or made stingier. Many career military people quit or retired at the earliest possible moment. This likely is one reason we entered the Iraq conflict with too few troops to do the job.

I don’t want my taxes raised, either, but realistically if you’re going to raise government spending, as the current administration has done, you can’t cut the government’s revenues, any more than you as an individual can reasonably spend more money without increasing your income. You can, but you’ll end up in debt over your head: exactly as the US government has done.

In a democracy or a republic, the government is a device for people to come together to make life better for everyone. We pay our taxes to get services and benefits that we could not easily provide for ourselves.

When you short funding for the government by reducing taxes, then some or all of those services and benefits must go away. The military is a service whose purpose is to keep us safe from sovereignties bent on harming us; if we decide to go to war, we need to pay the costs of maintaining the military, and the only way to do that is to pony up some taxes. A leadership that refuses to see that is short-sighted, not to say moronic. We are now facing the consequences of adopting a short-sighted and foolish ideology.

]]> By: Moments of Fame « Funny about Money http://funny-about-money.com/2008/08/13/the-national-debt-the-mortgage-meltdown-x-10/comment-page-1/#comment-1841 Moments of Fame « Funny about Money Mon, 18 Aug 2008 15:16:22 +0000 http://funnyaboutmoney.wordpress.com/?p=410#comment-1841 [...] has posted the 166th Carnival of Personal Finance, where Funny’s piece on the threat posed by the astronomically vast US national debt appears. This week’s carnival has a commodities theme — EF having just finished an MBA, the [...] [...] has posted the 166th Carnival of Personal Finance, where Funny’s piece on the threat posed by the astronomically vast US national debt appears. This week’s carnival has a commodities theme — EF having just finished an MBA, the [...]

]]> By: Miranda http://funny-about-money.com/2008/08/13/the-national-debt-the-mortgage-meltdown-x-10/comment-page-1/#comment-1843 Miranda Mon, 18 Aug 2008 12:02:09 +0000 http://funnyaboutmoney.wordpress.com/?p=410#comment-1843 Your ideas for preserving your personal finances are good ones. Unfortunately, there isn't much we can do about Washington. We've grown accustomed to having certain programs in place, and the powers that be have grown accustomed to having a huge military and have made commitments to support other countries' militaries. Not to mention the popularity attached to bringing pork barrel projects to certain districts. The difficulty of cutting any of this spending will be immense, and raising taxes will be even more unpopular. Your ideas for preserving your personal finances are good ones. Unfortunately, there isn’t much we can do about Washington. We’ve grown accustomed to having certain programs in place, and the powers that be have grown accustomed to having a huge military and have made commitments to support other countries’ militaries. Not to mention the popularity attached to bringing pork barrel projects to certain districts. The difficulty of cutting any of this spending will be immense, and raising taxes will be even more unpopular.

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