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All Forum Posts by: Phillip Gainey

Phillip Gainey has started 20 posts and replied 216 times.

Post: perfect storm update and concerns

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75

Things aren't that bad. We need to give "hope and change" a little longer to work. Maybe raise taxes so the government has more money available to "stimulate" the economy. Setting up another "committee", the recommendations of which to be ignored, might be in order as well. More speeches too. Just get your shorts out ahead of the speeches.

Anyway, that's how I see it. Heading back to my padded room now.

PG

Post: US Credit Downgraded from AAA to AA+

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75

Here is an enlightening exerpt from Dick Morris' page. He is talking about what an economist, James fitzgibbon is saying. This economist has been right on in the past:

From the start, Fitzgibbon has been impressing on me that we are not facing the normal business cycle of boom and bust, but that we are in the midst of a debt repudiation cycle which comes every fifty or sixty years as debt piles up so high that borrowers stop borrowing and lenders stop lending. With a global GDP of $60 trillion, we now have global corporate, personal and government debt equal to $160 billion (this does not include liability for pensions or social security down the road, but only current debt).

So now he says that the debt deal for deficit reduction recently passed by Congress "Is neither the cause nor a solution to these issues. The indebtedness is too great and has been dragging us down for too long to make any difference at all." He notes that our debt/GDP ratio is now 135% and that "You have to add in Fannie Mae and Freddie Mac to the US Government public sector debt to get the correct debt balance of $20 trillion vs. a GDP of $14.8 trillion."

He says "The real horror will be later in the year when the US Treasury Bond goes into a freefall. Then a depression is possible. Soaring interest rates. Collapsing asset values. Contracting economic activity. Surging unemployment. And business closures."

A Republican, he lamely adds "If I have any good news for you it is that the worst of this comes in 2012 into 2013 and we should be rid of Obama and his minions."

Thanks a lot.

Post: US Credit Downgraded from AAA to AA+

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75
Dow jones currently down 287 points.
Congress currently pointing fingers at each other.
My wisdom to exit the stock market years ago and invest in myself, Priceless!

And to think the President and the Dems, with the media as a chorus, were preaching that we HAD to ignore the terrorist TP in the house and reach a debt ceiling deal to AVOID A MARKET CRASH!!

When are people going to learn they are "being had".

BTW, dow down 500 now, after the great leader spoke on TV.

PC

Post: US Credit Downgraded from AAA to AA+

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75

It's going to get much, much worse. No country in history that has deficit spended virtually every year for decades has gotten away with it forever. There will be a lot more pain down the road.

The dollar will lose it's reserve currency status.

The standard of living for the average american will decline long term.

There will be significant social upheavel when the "gravy train" dries up. Particularly in urban minority areas. I remember the 1967 Detroit riots. That riot will pale in comparison.

Move some money off shore now, and have a proactive back up plan. Somewhere you can go temporarily. I have a cottage on a lake up north (michigan). If nothing else, just to get away from the nonsense when **** hits the fan and people find out there really is "no such thing as a free lunch".

Post: The darker side of landlording

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75

Problem arises if you live an a state that is not gun friendly. Some state will not issue, or rarely issue, concealed carry permits. In some states you have to get creative to defend yourself.

Friend of mine in Hawaii has a carpet cleaning biz. One of the worst states for gun owners. Can't own a tazer, not even mace or pepper spray. So he carries a can of Easy-off oven cleaner under his seat. He's had people block him and approach his driver window. So he carrys the over cleaner (contains lye) and swears if it ever happens again they will get it in the face. Cops can't get him for carrying a concealed weapon. He will just tell them it was left by a move out cleaner at an apartment where he did the carpets.

He has another friend that has been living in Hawaii for 30 years. Runs into road rage all the time. He retired from the Pearl Harbor Naval Shipyard and took some ammonium when he left. This is the chemical concentrate they make ammonia from. He carries some in an empty visine bottle. Stuff is powerful enough to stop your breathing and if sprayed in the face could knock you right off your feet (as you drive away to safety). Just a quick sniff is enough to gag you.

If you're dumb enuf to block someone on the road, get out of your car, approach the driver window and try to punch the driver through the window, you deserve a chemical facial. Burn the zits off your ugly face! Lye in they eye.

Too bad, usually just showing a hand gun is enuf to make a road rager approaching your car door back off and rethink things. In which case, no one would get hurt

Have a nice day!

Post: US Credit Downgraded from AAA to AA+

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75

We need more government spending to "stimulate" the economy. How about another stimulus package? Come on. It works! We need more. So what if the debt increases? We "owe it to ourselves". I remember them saying that it the 70-80's. True then, true today.

Stop worrying, the FED is on the case. They money they "create" doesn't come out of our pockets. Things will be just fine! Everyone CALM DOWN! The system works, keep the faith!

Just stay away from owning gold, balancing the budget, the Austrian school of economics, or any other "extremist" notions. These are the play things of the "gloom and doomers". That's what they called us in 1980. So please, let's not regress back into such archaic ideology. They have keynesian economists (in white lab coats) with fancy equations and computer algorithms.

OH MY GOSH! Who am I kinding? We're SCREWED BIG TIME FOLKS!

Post: The darker side of landlording

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75

Those are very good suggestions.

For those cases where you can't get away, I recommend this:

http://selfdefenseknives.net/wp-content/uploads/2010/01/self-defense-knives4.jpg

I own a knife similar to this. Fits in your pocket. Note the sharp point and serated blade. Good for quick, multiple stabs to the trunk of the assailant's body.

So in the "run to the back door chased by assailant, but door locked" scenario, you turn, and make multiple underhanded stabs to the body. After he has caught up to you and is "in close". Real hard to block close-in underhanded stabs. It only takes a couple inches of penetration to cause serious damange to internal organs. They back off, you unlock the back door, and flee/call police.

Navy Seals use a knife similar to this.

Post: And now, a message from a young MSNBC viewer

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75

http://images.craigslist.org/3nb3m53l85Y15P05S3b84b056bad275f61ef6.jpg

LOL!

Post: Good thing the debt deal got done.

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75

Now we can be sure there will be no market crash!

Thanks for warning us Obama.

P.S. There ain't no sticking "cuts" in this deal!

P.P.S. Hopefully, by next november Obama will be gone, and there will be fewer RINOs in the GOP.

Post: PM Issues

Phillip GaineyPosted
  • Michigan
  • Posts 228
  • Votes 75

When the farmer is away, the chickens will play.

Does the PM charge a percentage of repairs done? Some do, typically 10%.

Send Tony Soprano over to see what's going on.

PG