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Business, Economics, and Taxes: Eat Cereal for Dinner

MissThundercat said:
And hiring over 40 years old is DEI.
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Yepper; that is a killer for these stupid f-cks.

MAGAts are the biggest suckers on the federal teet. Fox screamed at them for years it was illegal immigrants and ahem "urbans" but, no. The only way anybody can live in those country hovels is with checks from Uncle Sugar.

The only thing I ask is when we return to power keep the tap shut off. Stop subsiding our perpetual loser Tobacco Road underclass. Let them Darwin it out for themselves.
 
Since they are in full on "Implement Project 2025" mode the second they start talking about the FDIC I would pull everything you got out of the banks because they will be unregulated and your money will no longer be protected...
 
Handyman said:
Since they are in full on "Implement Project 2025" mode the second they start talking about the FDIC I would pull everything you got out of the banks because they will be unregulated and your money will no longer be protected...
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Yeah, and of course everyone who said anything about Project 2025 during the campaign was called a bed wetter.

Democrats need to start fighting and they need to start fighting dirty.
 
How though? Congress ceded their check on The Executive Branch...sit ins anf flowery speeches wont even be enough to get them arrested. (yet)
 
Handyman said:
Since they are in full on "Implement Project 2025" mode the second they start talking about the FDIC I would pull everything you got out of the banks because they will be unregulated and your money will no longer be protected...
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In all honesty, how would you pull your money out and where would you put it?

It's not like banks have enough money for everyone to pull theirs out. That's the whole point of banks. To use your money to make money. Not to put it all in a vault and have it available when everyone wants it. That's why a bank run crashes the economy.

And you can't just walk up to a bank, and ask them to dump out say $10,000, $20,000 in a bag for you. And they will immediately shut down any online transfers because they know what the rush will cause.
 
Russell Jaslow said:
In all honesty, how would you pull your money out and where would you put it?

It's not like banks have enough money for everyone to pull theirs out. That's the whole point of banks. To use your money to make money. Not to put it all in a vault and have it available when everyone wants it. That's why a bank run crashes the economy.

And you can't just walk up to a bank, and ask them to dump out say $10,000, $20,000 in a bag for you. And they will immediately shut down any online transfers because they know what the rush will cause.
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If you wait until the run is about to start it will be too late. Honestly start pulling out little bits here and there now. (not $10k but hold back what you can...direct deposit makes it tougher I know) If you havent started by the time rumors of the FDIC being screwed with are circling it is probably too late.

Thankfully for me now is a very big time for cash so I am just holding back quite a bit.

The other issue is, the FDIC wont be the only reason the banks fail. Even if they leave the FDIC alone with the tax hike the middle 60% of workers are about to get along with food shortages and coming layoffs outside of the tech bubble you are going to see defaulting on debt and loans spike rather quickly. Its going to cascade and while normally it would be rather slow and deliberate allowing for mitigation we are 8 days in and we are already seeing the repercussions. Another bad weather event or Bird Flu outbreak leading to more shortages or even just a few businesses going under (or leaving) rather publicly and this whole thing could unravel faster than it did in '08. And this time the Dems wont be there to save it.

What we are about to see in real time is how much Biden and the Dems were holding all of this together with Duct Tape and Superglue. History will record this as the ultimate proof that Capitalism is a cancer and if left unchecked destroys everything in its wake.
 
Curiously, what about Credit Unions? I mean, mine might as well be a bank given how large it is but it’s still through NCUA and not FDIC.
 
Jimjamesak said:
Curiously, what about Credit Unions? I mean, mine might as well be a bank given how large it is but it’s still through NCUA and not FDIC.
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Same thing, just a different twist: "The National Credit Union Administration (NCUA) is an American government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federal Deposit Insurance Corporation (FDIC), which insures commercial banks and savings institutions."
 
I mean, theoretically you could withdraw in cash and put it in a safe deposit box? Obviously you don't get fdic protection or any kind of rate but...


Either way, if we get to the point that the FDIC is threatened, we're all hyperf*cked anyways.

You should keep an emergency cash supply at home anyways. Either locked up or in a go bag.

Edit: apparently swears aren't censored anymore.
 
dxmnkd316 said:
I mean, theoretically you could withdraw in cash and put it in a safe deposit box? Obviously you don't get fdic protection or any kind of rate but...


Either way, if we get to the point that the FDIC is threatened, we're all hyperf*cked anyways.

You should keep an emergency cash supply at home anyways. Either locked up or in a go bag.

Edit: apparently swears aren't censored anymore.
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Hey now...no need to be a Narc ;)

I try to have cash around just in case all the time. Usually ends up being "vacation money" but it is there when I need it. Plus, I have a chain bucket that has about $00 and growing.
 
Funny story about stashing money. I know a guy from Florida from my racing activities. He has a private pilot neighbor who back in the day did one drug plane run, just for a quick cash grab. Supposedly, this guy stashed all the money in the walls of his house.

Now, I don't know why this drug runner would let that out for security reasons or maybe just my acquaintance was close enough to him to know (and maybe the guy has since died, so it doesn't matter now), but I'm believing the story. It's too crazy not to be true. LOL

The thing that always struck me, is without getting any interest for al the years he had to live off this money, could it really last? Especially with the affects of inflation? Technically, he's losing money every year even if he never spent a penny. Back then, whatever he got may have seemed like a lot, but now, I'm sure that same amount isn't really that much to live on for an extended period of time.
 
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