Social Security and Medicare Finances Worsen

[Lostinoz]

http://news.yahoo.com/s/ap/20090512/...ocial_security

By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer – 4 mins ago

WASHINGTON – The financial health of Social Security and Medicare, the government's two biggest benefit programs, have worsened because of the severe recession, and Medicare is now paying out more than it receives.

You can continue reading at the link... :)

[Skyowl's Wife]

Only Gov program that works is the DoD.

And they want to take over our medical care!

[unswydd]

I was listening to "Rush" this morning (cuz he makes me laugh) and he mentioned that they are going to start taxing our insurance benefits that we get at work. I believe McCain had this idea and the dems completely poopooed it. Now nobama is going to take it up I guess. Not good news. But I can't confirm this so let's just say it's something I heard which is the truth.

[Visinedrops]

I've come to the conclusion, long ago, that whatever our leaders say is going to help everyone, it only benefits those who have everything to gain.

I think it's time for a new way, and I'm willing to put my life on the line for the benefit of the true American way. There's only one problem...those who say they'll take a stand far outnumber those who actually will. People are too afraid of losing what they have right now, and will eventually lose it all anyway because they won't take a stand against it.

Taxing our taxes isn't going to help anything but those who collect the money, it's time to fight, and until people realize this, our way of life will continue to be oppressed.

[Oscar Wilde]

[I've come to the conclusion, long ago, that whatever our leaders say is going to help everyone, it only benefits those who have everything to gain.]

BINGO!!!!

[I think it's time for a new way, and I'm willing to put my life on the line for the benefit of the true American way. ]

The human way.....the alternative won't be worth living for....there are lots of us out here though.....don't give up hope and never surrender.

[There's only one problem...those who say they'll take a stand far outnumber those who actually will. People are too afraid of losing what they have right now, and will eventually lose it all anyway because they won't take a stand against it.]

Very true...they call themselves SHEEPLE

[Taxing our taxes isn't going to help anything but those who collect the money, it's time to fight, and until people realize this, our way of life will continue to be oppressed.]
O.W.

[unswydd]

Visinedrops,
I completely agree with you on this. There will always be more to talk the talk than those who actually walk the walk. I will fight. I've been a fighter all my life. I was on the streets for many years and well, I have a reputation to protect so I just can't run and hide.
Okay, so I've mellowed through the years and actually haven't had to fight but let the time come that I have to and I can pull the old gal right out of a hat and let 'er rip!
I ain't scared that's for sure. Been there done that!

[Skyowl's Wife]

I've come to the conclusion, long ago, that whatever our leaders say is going to help everyone, it only benefits those who have everything to gain.

People are too afraid of losing what they have right now, and will eventually lose it all anyway because they won't take a stand against it.

Gain, aye! Something like 90% of the TARP funds went to BO campaign donators.

Unfortunately, I think his goal is for us all to lose everything. Saul Alinski and Cloward-Piven want us to be completely demoralized, hungry, and broke so we'll accept the "socialist paradise".

I was told before the election that BO is not a socialist. I had done my homework so knew he was. Anyone that still believes he's not a socilist/fascist is in denial or comatose. I believe the RNC will make a stink about this next week.

[cwconnertx]

This is not really news, the program will go cash flow negative now in 2016, the range 10 years ago was 2014 - 2019, so not much has changed there. That is the real date, the trust fund date doesn't make one bit of difference, its just a made up paper debt date.

What do you think is going to happen to our economy when social security begins sucking money out instead of putting money in?

What is the economy is already like it is now when it happens?

What do you think your dollars will be worth?

I am spending a lot right now on preparedness, but once I get to a level where I can dial it back, the money will be going into hard assets with some going overseas to places where I might consider relocating.

I hope I can get to the point where I am able to become mobile before it gets too bad. I have my eye on a 38 foot sailboat for that purpose, but I am a little short of the 200,000 it takes to play.

[Skyowl's Wife]

What do you think is going to happen to our economy when social security begins sucking money out instead of putting money in?

I think them wanting to legalize 20 million illegals is part of their "cure" for this. 30 or 40 million more socialist/dem voters is the other reason.

[rancher]

Been pulling out...

Four years ago we talked to our investment advisers in our home about the real possibility of the banks going on the rocks, financial markets crashing and the whole house of cards imploding...they looked at us like deer in the high beam headlights :-O. They even said B of A was the most secure bank in the world and if it went under the whole world would collapse...thanks anyway we still refused to buy into them at any level. Smart thing to. Then they wanted us to buy into GM and said they were going to rise up and become the stock of choice down the road...I remember looking at my wife and we both laughed..no thanks again. We did do some AAA over AAA fully insured bonds though. Yesterday we got out of Goldman Sacks bonds made a profit for a long time and broke even over the last year. We have two more bond investments to sell off. Basically we got 90% of our investments out over 8 months ago. We have only lost about 5k or 1% of those investments.
I remember the bankers at B of A asking why we were pulling out as they counted the cash out... I asked they how it felt knowing they were going to be given a tee shirt some day at the bank saying "Property of the US Govt." or better yet be laid off. They all thought I was nuts and said they were very secure and so was their bank.... Six months later.... all of them have been fired now. The entire investment wing program is gone. Their bosses over them in other towns are gone. B of A just reported a slight up turn in profits...you know why? Because they gutted their bank employee numbers big time and kept the tellers. The unemployment lines just grew but the bank appears do be doing well. They just pushed back the bad news much as the govt. does all the time.

A word to the wise is sufficient... Cut your losses and get out. Keep the cash for now and be able to score great deal on stuff later. If it all gets better you can always get back into the game. Buying up supplies right now while they are high in price is not wise (maybe). My point of view as we filled the tickets long ago. People in distress around you will sell off many things you might need/want at rock bottom prices as time goes on... run an add looking for said items and let them come to you. Their loss is your gain.

[littleone1]

Rancher, I could not agree with you more. We too have stopped putting our money in stocks, bonds or even 401k. We have been putting away cash. Our financial "guru" told me I needed to stop watching the news! He is now complaining how much money he lost. Our next step is to buy some gold and silver to have on hand. We have also started talking about getting everything out of our safe deposit box. Who knows if anything is safe if you do not have total control over it. Sitting here typing I have Fox News on and they are talking about bailing out the insurance companies. Just warms my heart!

[pathfinder3081]

CW; "I hope I can get to the point where I am able to become mobile before it gets too bad. I have my eye on a 38 foot sailboat for that purpose, but I am a little short of the 200,000 it takes to play"
You can get a good comfortable sailboat alot cheaper than that my friend. I have not sailed in a few years but I always have this in the back of my mind as well. (I realize that your 200 grand is living money too)

And SKwife? That is exactly why the USA as been so slack on illegals. Whites in the US are having couples/marriage produce about .34/children per family. Our culture will be gone in 17 to 20 years. Even with the Mexicans bringing us up to the 2.4 children per family the Muslum family has 5.2 per family, I received some shocking stuff the other day reflecting their spread in Europe, and Asia. Germany has already said that their culture will be gone in 12 yrs, France even faster.

[cwconnertx]

CW; "I hope I can get to the point where I am able to become mobile before it gets too bad. I have my eye on a 38 foot sailboat for that purpose, but I am a little short of the 200,000 it takes to play"
You can get a good comfortable sailboat alot cheaper than that my friend. I have not sailed in a few years but I always have this in the back of my mind as well. (I realize that your 200 grand is living money too)

And SKwife? That is exactly why the USA as been so slack on illegals. Whites in the US are having couples/marriage produce about .34/children per family. Our culture will be gone in 17 to 20 years. Even with the Mexicans bringing us up to the 2.4 children per family the Muslum family has 5.2 per family, I received some shocking stuff the other day reflecting their spread in Europe, and Asia. Germany has already said that their culture will be gone in 12 yrs, France even faster.

I know I can get one cheaper, and I probably will, but that is the one I want. Capable of ocean crossings and sailing anywhere in the world. Enough deck space both above and below for 6or7 people and the gear. The goal is to be self sufficient for food, water, etc and I can't do it as easily on a smaller boat. I would like to have some potted plants so i can grow a little to go with the fish and the model I have in mind has a perfect place to do that.

And the 200,000 is just the price of the boat, no living expenses included. I have a job where I can work remotely if society is still functioning. If it is not then I don't know that money will be much good anyway.

[pathfinder3081]

I Understand.. But people and crew can sleep anywhere. Keep a shallow draft. 5' or less.
I am preparing a post of water.. "from see to land".. Why?, I don't know (smile) guess it is just cause.
The last time I was in Gorda about 10 years ago fresh O2 was 10 cents per gallon. Now? Funny story was; You have fresh water? "Abit maaan" (it was brakish) You have Ice? "Ice man not been her in two days Maan", You have fuel? "No he comes with the Ice man"... I always kept cold plates. Ice? I can do with out, we fished and traded product or services all over the world.. I know boats and sailing good man.
Money will always be good some where, so don't fall in. 40 days crossing a Ocean is one thing. Treading accross land is another. Juss so you know.
Fair wind behind you............PF

[TheUnboundOne]

Howdy, Rancher!

You are so right about Bank of America! One of the real stupid things that Bank of America did was to allow illegal aliens who didn't have Soc. Security Cards or Driver's Licenses to come here and open accounts with Matricula Consular Cards issued by the Mexican Government.

This gave personal, automobile, and real estate mortgage credit to people who otherwise would not have got it under the present credit system...effectively creating a credit bubble within the credit bubble of the larger economy!

Naturally, when you issue more credit to more people, that alone increases the likelihood of defaults, but when the FannieMae/FreddieMac housing bubble burst and there was less credit to issue for mortgages, this meant less construction of houses. The cutback in construction meant that construction firms had to let go of staff, which, in many cases, was those very illegal aliens who got credit with Matricula Consular Cards.

When the newly unemployed illegal aliens couldn't pay their bills and faced no credit or other consequences for default, they just shirked their mortgages, credit card bills, and auto loans, and went back South of the Border. Bank of America's little illegal alien credit bubble burst.

Bank of America was then left with all of that unpaid debt, and like every other business does, right or wrong, made the rest of the customers eat the loss, both with interest rates and fees and, in the case of Bank of America, taxpayer-financed FDIC insurance and and taxpayer-financed Federal bailout money.

And other institutions accepted Matricula Consular Cards as well, creating little bursting credit bubbles all over:

Bank of America just the tip of the iceberg
http://www.worldnetdaily.com/news/ar...TICLE_ID=54485

One guy who raised utter Hell over the Matricula Consular Card scandal for years was none other than WBT's Keith Larson. He saw many of the implications well in advance. You can find him and listen to him here:

NewsTalk 1110AM WBT
http://www.wbt.com

Fortunately, I haven't banked in years, so I am, as Thomas Hardy put it, Far from the Maddening Crowd.

:cool: