Savings Rate at Lowest Level Since 1933

Well, I'm not really surprised by this. The AP just ran an article saying the US is at its lowest saving level since 1933, during the Great Depression.

If we as an entire country are at our lowest savings level since that time, it doesn't take a rocket scientist to see that many US citizens are either living paycheck to paycheck, broke, or in extreme amounts of debt.

Ironically, I was just reading about the Great Depression in the encyclopedia last night. It looks I'll get to see another Great Depression in my lifetime: http://news.yahoo.com/s/ap/20060130/ap_on_bi_go_ec_fi/economy

I better buy a few guns along with some silver and a bit of gold. Their may civil unrest here in the US before I retire, which is a long time from now.

Being self employed is the best place to be right now.

 

How can the average man and woman save when Exxon just reported over 10 Billion dollars in profit last quarter? This is an all time record profit for any corporation ever because of record oil prices!

Bush and Cheney have ruined the nation with their oil war, sacking us all with record debt, government and consumer.

Now because of Cheney and Bush stealing money on oil GM and Ford are going broke and closing plants and this will further destroy the USA economy, all this while making our enemies rich (Iran and Russia) because of the obscene greed and corruption of these Houston oil criminals!

 

Yeah, our debt-centric society is going to have to change.

I'm just glad that the government is setting a good example of responsible spending for our citizens to learn from. Ohh....wait...

If the government ever fails, the guns will do you a lot more good than gold or silver

 

I was wondering what happened to the republican party that use to spend less and tax less. The republicans in the senate are spending as much or more then the democrats in the senate ever dreamed of!! (still think prison time is great for politicians.)

 

Do you guys and gals think that the OIL WAR in Iraq might have something to do with this

http://www.google.com/search?hl=en&q=exxon+record+corporate+profits&btnG=Google+Search

Do you think that the silly leadership and pathological lies of Blair and Bush have anything to do with the situation we find ourselves in

http://business.guardian.co.uk/story/0,,1698339,00.html

Exxon Mobil reports record profits

Mark Tran
Monday January 30, 2006


Exxon Mobil today reported record profits of $10.7bn for the fourth quarter as the world's largest oil company cashed in on high energy prices.

The result surpassed Exxon's previous record of $9.9bn (£5.6bn) in the 2005 third quarter. Oil companies made big profits last year as prices surged to record highs, driven by a combination of factors.


A wise man once said that the love of money is the root of all evil.....

THESE EXXON RESULTS ARE THE LARGEST PROFITS FOR ANY COMPANY EVER IN RECORDED HISTORY.......Blair and Bush have served their masters well.......

~~~~~~~~~~~~~~~~~~

 

Yeah, nowadays the motto is cut taxes + increase spending = more money for everyone!

 

No the Republicans are simply criminals and that is proved over and over!
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http://news.yahoo.com/s/ap/20060130/ap_on_bi_ge/earns_exxon_mobil

Exxon's profit for the year was also the largest annual reported net income in U.S. history, according to Howard Silverblatt, a stock market analyst for Standard & Poor's. He said the previous high was Exxon's $25.3 billion profit in 2004.

Exxon's results lifted the combined 2005 profits for the country's three largest integrated oil companies to more than $63 billion.

ConocoPhillips said last Wednesday that its fourth-quarter earnings rose 51 percent to $3.68 billion, while annual income climbed 66 percent to $13.53 billion. Two days later, Chevron Corp. said its fourth-quarter earnings rose 20 percent to $4.14 billion, while annual income jumped 6 percent to $14.1 billion.

The oil industry's stellar results renewed talk among some politicians for a windfall profit tax that would push companies to invest more in new production and refining capacity.

Sen. Babara Boxer, a California Democrat who sharply criticized oil executives appearing before Congress in November, struck again on Friday. She called on the Bush Administration and the Federal Trade Commission to "put an end to gouging," then suggested that FTC stood for "Friend to Chevron."------------------------------------------------------------------------------------

Just a few keywords, Cheney Delay Libby Ken Lay

Cut and paste the above into your search engine and learn all about it!

 

I agree that our government and the oil industry are greedy, but I also believe there are deeper issues at work than just the love of money.

I personally think that Americans are intentionally being fattened up for the slaughterhouse. I consider debt to be the equivalent of slavery.

The FED is the main problem in my opinion. It is a violation of the Constitution for anyone other than the US treasury to coin and issue money. Yet in 1913 the Federal Reserve Act was passed, and now a central bank rules our country.

This is what president Andrew Jackson fought against, and the average American is so dumb they don't know enough history to know that Jackson believed a Central bank would destroy the US.

Once our economy goes, our military will shortly follow. Meanwhile China is allying itself with Russia/Iran and turning into a military machine capable of doing battle on a global scale.

As much as I love the US, I must admit that by 2100 we may no longer be a world leader at all. The US may fall, and if countries like China take full power, God help us all.......................

 

You mean printing money with no base behind it, worthless paper.....

 

Exactly. Most Americans have no idea that the money that the FED loans our government is printed from virtually nothing. The government may hand the FED treasury bonds, but like all banks, the FED basically charges interest on the money they create.

Here is the crazy thing. When you go out and get a ARM loan for you home, or a car loan, no matter what the original price of the home or car is, by the time you pay it off, you will always pay more than retail value because of interest.

In the case of the car, it will depreciate in value. Thats why I don't own a car. At least the house gains value and equity over time.

You know, they say their are three ways to destroy a country. Here are the ways:

1.Military invasion/Occupation - This is the fastest method, but the most costly and risky. Even if you conquer the country, over time the citizens may rise against you.

2.Religion - Influence and control a nation through religion. This takes a bit more time than a military invasion, and there is not guarantee it will work.

3.Economics - This method takes the longest time. You slowly take control of a nation by laying seige to their financial institutions, putting the people into debt. This takes the longest, but is the most rewarding.

Number 3 is what is being done to the US.

 

What is being done is the theft and export of capital for money laundering and tax evasion by the rich, this is not a new game, that is why offshore banks thrive!

 

I think there is a large segment of the republican party that now thinks that properly directed government spending is a good thing. If I remember right, the new republic advocates this quite a bit.

If you dig a little, the term neo-con bantied about, refers to liberals who believe in military action when necessary. They also believe in high levels of government spending. So they are not true conservatives at all, just self-defense liberals.

 

umm

are you sure?

http://en.wikipedia.org/wiki/Neoconservatism_(United_States)

I'm pretty sure neo-con is the bible thumping pro-war , pro big spending conservatives.

At least that is what it has meant any time I have seen it used

I guess maybe thats what it used to mean

 

"Properly directed" meaning into the pockets of their politcal supporters

 

Neo-cons are con men that act like they are good people, I call them Sunday killers because they go to church and pray to a false God asking him for power to steal more money and kill innocent people so they can steal what they have.......

Sort of the same religion Hitler had....We have a guy at the UN named Bolton that is a great example of this!

 

The true definition and what it has come to mean usually differs.

Yeah, whatever. What it means is that they believe in big government programs and spending.

 

I thought you liked muslims.

 

Did something large and heavy drop on your head when you were young Debunked

 

Another Depression; does that mean another war would follow?

Well, talk about Cyclical history here.

 

Is there a website with the new tin-foil frequencies?