Swami Barmi

I agree with everything you just said except one... The Federal Reserve manipulated the Goverment, not the other way around.  In fact you could say that the Goverment is the Federal Reserves &%#@ (Female DOG IN HEAT).  If you have not yet watched Zeitgeist, you really should.

PEACE

Way to go!

The question now for those of us who haven't put all their savings into a house: where do we have to invest it to keep our hard earned money from being eaten by inflation?

I'm living in Europe but the oncoming recession in the US will cause a lot of misery overhere too. Our banking stocks tanked too in 2007. I just sold my house and am at a loss as to where to invest it. Gold doesn't pay an interest and might do like in 1980, stocks are less safe than they used to be, fixed-income investments aren't very interesting with the rising inflation... what a headache!

Suggestions welcomed!

I agree Patty... about consumer responsibility and way too many video's.  I would rather read an article than watch a video, another example of the "dumbing down" of America.  In a few years there will be reports of only 1% of Americans knowing how to read!  Hmm.. that is probably the plan so the vast majority won't have a clue...oh wait...they don't now... already done!

I worked at a bank a few years ago, and one of the managers (who didn't make that much) was buying a house with $2,000 monthly payments and huge property taxes. His wife was having a baby, they had a big wedding with a huge honeymoon, they were both in school with loans, and they had two nice (stupid) cars.  I wonder what's going on with them now.

The mortgage broker was trying to get the tellers to buy houses!  They were making about $10/hr and in school.  Give me a break.  I was making a little more, but I knew what was coming.  Thank goodness my family taught me to stay out of debt.  It's only going to get worse now that the news is getting out and the momentum builds.

I am one of the many who had a loan that was subprime. There are a few things that you might find interesting as to how and why consumers may get caught in this crisis. First, I couldn't rent. My credit is bad due to a bankrupsy caused by illness and a lack of health insurance and healthcare. I was "homeless" living in the back of my bookstore with my child, trying to finish college and better our lives. I could afford rent, I just didn't have the credit. I did have "good enough" credit to get a small home loan though. I bought a fixer-upper for $79,000. So you know I wasn't a speculator, I just wanted a home.

More importantly though, I WAS LIED TOO!!!!! I was lied too by the mortgage co. and the lawyer about how much the payment was to increase. It is illegal to do so, but how can I prove it? Well, I was due to be graduated, had the money for the payment I expected, had fixed much of my credit, the bankrupsy would be off my credit report soon and I hoped to refinance after I graduated and improved my credit.

Instead I got cancer (with no insurance), lost my income, because I couldn't work, and put off graduation for several years. Then my mortgage payment increased more that three times what I was told it would. Well, I couldn't pay and became a homeless cancer patient.

Was this the fault of the mortgage co.? Cancer, lack of insurance, and my unemployment were not their fault. But lying to me and not being willing to negotiate a deal with lesser credit is.

http://forum.911movement.org/index.php?showtopic=2587

Okay, tell that to my liberal grandmother, who gave away all her money to right-wing organizations while the rest of the family stood by helpless because her doctor would not diagnose her obvious Alzheimers.  She left medical and tax bills to her offspring.  My dyslexic uncle was more fortunate: God called him home before the creditors arrived.  His blind widow may yet be stuck with the bills--we don't know yet.  This is the reality.  The social and familial bonds that used to protect such people from themselves have broken down and now they are very vulnerable.