Question from a dummy

[5boys2girls]

I thank God for all of you who have been gifted in understanding financial matters! My question is this... Do you personally feel that there is a way out of the economic tornado we are in other than God Himself, or do you feel that this is the beginning of the end for our economy? What should we expect to see happen next if it is on a definite downward spiral? What would your advice be to those of us who live paycheck to paycheck? I know that we are not to be afraid, but I will admit that I am a bit rattled. My husband will also be affected by the writers strike in Hollywood soon, as he is in the entertainment industry. I'm just sitting back and watching the nightmare scenes unfold and hanging by a prayer. I would just like some opinions from the economic saavy ones on the board, and I thankyou greatly in advance.
God bless you and keep you!

[jds6958]

I like this guys summery of our current situation and I would have to agree. Serious inflation b/c of the devaluing of the USD is pretty much a fact. Some hold the view that hyperinflation is a strong possiblity, that is my view...

"You have to recognize that this problem is systemic. Many academicians are designing what they see as a bailout but the size of the problem and psychology behind it has been squashed flat. For any plan to work it has to be real, transparent and effective with no major visible downside. That simply does not exist. This does not mean that such an attempt will occur. Every suggestion I hear is resplendent with major INFLATIONARY implications once again putting the big boy’s problems on the backs of our children and grand children.

There is no PRACTICAL solution for today's payback for the misadventures of our young lions of the geek gang of over the counter derivative traitors. There is no PRACTICAL means of turning the US dollar bear market around at this time. Gold will trade at $1050 and at $1650.

Gold only backed off the advertised high mark of 1980. Sorry, $850 was not the high, but statistically the high tick on the Comex was $887.50. My greatest concern is that I am being much too conservative with maximum price objectives at this time. I prefer not to yell fire in a theater when in fact it serves no purpose but ego aggrandizement should it occur.

I speak to assist you, not to release hot air into the atmosphere.

Look at the size of this debacle and consider the inflationary implication of any plan that attempts to set a floor for worthless special performance agreements. It is mind boggling."


http://www.jsmineset.com/

[Issachar]

Hey 5boys2girls .... don't call one of my sisters in Christ a dummy and also, how could I ignore a post by someone with a name like that? My oldest daughter and her husband of nearly 16 years have 5boys2girls. :) They passed up my wife and I by 1. So far.

By "dummy", I assume you merely mean ignorant? We are all ignorant of something. Nothing wrong with that. Only our Lord knows it all.

Anyways, I posted a few thoughts concerning your questions in the "Big Changes Just Ahead???" thread if you'd care to take a look there.

Issachar

[CelticMist]

It very well could be the start of the end of the American dream... economy I mean.... IMHO from what I've been told... I have to say.. if it goes .. its gone for good.

[Cindy S.]

Do you have any relatives that survived the depression?

When I get worried, I turn to the Bible. I need to start knowing the Lord and depending on him, so when I get to heaven I won't need an introduction.

Remember what the word says:

Mat 6:31 Therefore take no thought, saying, What shall we eat? or, What shall we drink? or, Wherewithal shall we be clothed?
Mat 6:32 (For after all these things do the Gentiles seek for your heavenly Father knoweth that ye have need of all these things.
Mat 6:33 But seek ye first the kingdom of God, and his righteousness; and all these things shall be added unto you.
Mat 6:34 Take therefore no thought for the morrow: for the morrow shall take thought for the things of itself. Sufficient unto the day [is] the evil thereof.

Jam 4:14 Whereas ye know not what [shall be] on the morrow. For what [is] your life? It is even a vapour, that appeareth for a little time, and then vanisheth away.
Jam 4:15 For that ye [ought] to say, If the Lord will, we shall live, and do this, or that.

[icebear]

yeah, He didn't come and get us during the depression (not that i was born anywhere near that time) and i am sure many alive at that time thought that was the end, so i gotta wonder, it we do have another depression, will it just be another thing in history that must be endured?

or do we think things are far more critical this time around?