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Bob:
Another problem is that when all of this comes to
an end will price actually come down. Once the suppliers realize that we
will pay these high prices how far will they back off? I don't think we
will see lower prices after ethanol is done for. At least not prices where
they were when it all started. Time to start baking your own bread
again. There are depression type conditions for many families. I
just paid $4.85 for a $1.00 loaf of bread. Milk is up 30% in just a couple
of months and right now there is no end in sight.
The housing problem has hit about bottom or will by
July or August of this year. Right now there is about an eleven month
supply of homes. By the end of this year or the first quarter of next year
the banks, investment banks and mortgage companies should have been able to
write down their bad loans and the last of the ARMs will have kicked in.
The $168 billion stimulus package will have taken effect. Those that are
gong to go bankrupt will have done so and those that are really deep in debt to
credit card companies will be paying between 24% and 50% interest on their
balances.
What the government needs to do and won't because
of the money they receive from lobbyists and invested
companies is re-establish usury laws,
increase interest rates to stop inflation, reduce government spending on farm
supports and ethanol production, stimulate construction of hydrogen filling
stations and put together some of the old New Deal projects that will put
Americans to work. Stop the tax breaks for farming out production and
services overseas and bring those jobs back home.
It is all a dream right now and I know that our
government won't do what is necessary but what is expedient for their own self
service. They will increase their own salaries, increase their own
retirement benefits and health care benefits and screw their constituents, the
American people. This is not a political dissertation, it is fundamental
analysis.
After all of these years, yes I am a cynic.
Just one man's opinion,
----- Original Message -----
Sent: Sunday, February 24, 2008 4:51
PM
Subject: Re: [RT] Credit Cards
The latest scam being brought down on us is the ethanol nonsense which has
raised food prices and will continue to do so until someone steps up and
explains that ethanol costs more to produce than fossil fuel and it pollutes
worse than gasoline. We need to begin building nuke plants again and do
so without regard to who wants what in their backyard. Next, we need to
figure out what we're going to do with the waste. (I suggest an island
in the Bering Sea). Then, we need to put some serious money into
hydrogen fuel cell development and add as much solar and wind power as is
reasonably possible. Farmers may be getting rich off ethanol
but most of us are just paying for a political game when we shop at the
grocery store. Worse, the game is destined to fail and fail at our
expense. Surprise!
Bob
At 06:57 PM 2/24/2008, you
wrote:
Here are some
interesting facts from today's paper. With the mortgage default rate
rising there are more and more people living off of their credit
cards. I can imagine, I just paid $4.85 for a loaf of bread that was
less than $2,00 a year ago.
Total
credit card debt in the U.S. is $943 billion
The number of credit cards
is 1.2 billion
The number of credit cards per person is 7
The Average
debt per household is $9,840
The annual debt service cost per household
is $1500
Only 7% or the households have no credit cards
Only 32% pay
their bill monthly
8% of the card holders owe more than $25,000
The
U.S; Savings rate is 0.5%
Not a really good
picture for a consumer driven economy.
Ira
www.delta100.com
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