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View Diary: Falling economic dominoes.  Friday is a big day. [POLL] (171 comments)

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  •  Yup. (2+ / 0-)
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    polecat, Youffraita

    My closest relatives have lost lots of money, even though I warned about the fake economy. It's sad, because that was the family's treasure, passed down through inheritances, taxed and re-taxed, invested and re-invested, and now it's just caput.

    I did learn a lesson: keep your credit score good because if you ever end up in a situation where you have a lot of cash and prices are falling, you could pick up some good deals. But my credit is crap and I'm literally completely broke, so oh well.

    The modern news media draws half its power from coils placed around the spinning in Edward R. Murrow's grave.

    by aigeanta on Fri Oct 10, 2008 at 01:46:52 AM PDT

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    •  My parents were lots older than me (0+ / 0-)

      so they were children during the Depression.  They didn't play the markets...they knew what could happen.

      They were old enough to have great health insurance and real pensions--good, solid pensions--not 401K plans that evaporate every time the Street has a case of the vapors.  Mom, especially, would have understood Warren Buffett's comment about "financial weapons of mass destruction."

      Ah, the Oracle of Omaha once again proves he knows more about the markets than the self-described Masters of the Universe.

      That's why he's still a billionaire, and they are prevented from jumping out of windows only because of Manhattan's skyscraper laws (windows can't open).

      Our economy is a house of cards. Don't breathe.

      by Youffraita on Sat Oct 11, 2008 at 01:44:05 AM PDT

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