Saturday, September 27, 2008

HARD TIMES ARE COMING

metalman here, for years i wrote about the black cloud coming, buy gold, silver
oil etc. to protect your lifesavings.
most of us worked hard most of our lives, most are still working with no choice
most of us lost our nest egg of savings including myself in the high tech boom, trusting
our investment companies, banks, only to find out the hard way, you don't trust them period!!! what i learned the hard way, your health is number one, having health with no fear is the answer to ride out any storm.
i'm blessed that i lived in verdun, most don't know that verdun was a training ground for hard times.
most of us lived on very little, most of us were not overweight, we shared our stuff
candies, cigs, beer, whatever we had we shared to our verdun buddies.
i personally think we had a better lifestyle living on flats, sharing 1 bathroom with 5 family members or more.
just look in a mall and see the people all over weigth, over loaded with credit debt
buying homes, cars.on and on.
as a little verduner and other little verduners, we would make our own job, back then
you get that little wooden wagon and deliver groceries, greet the customer, take there order, chat with the customer, carry the boxes of groceries up 3 landimgs of stairs
then the 25 cent silver piece, yes real money, back then you get a comic, a bottle of coke, candies, comic 12 cents, coke 7 cents, 2 cent return on empty bottle, 5 cents for a bag of humpey dumpy chips.
and stiil get change from the 25 cent peice.
verdun gave the best education, we had no easy credit, we were hard working
families, most of us had vacations in july on our balconies and had a great time.
sharing that pepsi, fries, or sharing that 24 of molson.
it will be a shock for many in the next few years, myself its the good old days coming back.
 
 
 
 

15 comments:

les__f MSN said...

Hi Walter  (popdog) ....I suspect you are right, there will be some real surprises for some of the people out there who are laden with debt.... We've seen it & spoke of it for several years now, the writing was on the wall, people buying more & more on credit, & that all too easy 'monthly payment'  On the flip side though for those who are prepared,there will be some interesting deals to be had,in the next few years ,as the toys that can't be paid for ,Cars, Boats, etc etc Houses.......the market will have to have a correction of some degree,in the Real-Estae field,...as we've all been shaking our heads at the amount of money they've been getting for houses, and watching the amount of condos being built in record time,( which makes me wonder about the quality of these shacks) I would think there will be plenty of condos for sale soon, I still see the construction cranes around here,& I wonder where the people will come from who will want to buy these buildings? It will be interesting to watch,I just hope that the kids today can keep their jobs,but I suspect wages will drop & the younger people will have some 'Hard Times Ahead'                                                       HF&RV

les__f MSN said...

Sorry Walter I posted the name 'popdog' now that 's going back a few years......hahahahah  Should have read  'Metalman'               HF&RV

metalman108 MSN said...

hey -les   people just don't know, most don't care until they lose there job and start looking for a new one, then find out the truth. friday i went to pickup a check from a large construction company and a xverduner working as a project manager came over to greet me and we went out to starbucks only coffee place close to his place of work, the girl at the front desk monitors the employees coming in and out of office. he wasn't happy, 10 years younger, gray hair, not a happy camper, health??? telling me he just leased another car for his wife, so i said whats up, not good i think construction is slowing down, my job is at risk, well i replied then you better start to look for another one, then the truth came out, i sold my house and got another one how much was the house i replied, he replies 500k, he makes 150k with profit sharing, well those days are over, constructuion is drying up. i know several people that are in these mess, my brother knows people that work with him in montreal and he tells me yesterday, they make the same pay as he does and he can't understand why they buy homes for 400k. all are house poor he tells me all he hears that its there wife that wanted that home, yea sure blame the wife. i said blame the banks they are the ones, like drug dealers giving out drugs cheap so later everyone gets hooked and then put the prices up up.      

brucie54 MSN said...

Walter,  Take it with a grain of salt all we can do is hope and pray it doesn't completely go down the drain.  Hope you remember who I am.   Bruce

fresco750 MSN said...

Donald Trump: Silver Lining is Declining Oil
Monday, September 29, 2008
  Billionaire real estate developer Donald Trump is none too pleased with the markets, but he sees a silver lining. Oil should be falling, Trump says, and falling fast. “People aren’t talking about two very big issues, the war and the price of oil,” Trump told Fox Business News. “If people knew how to speak to OPEC the proper way, the hard way, the tough way, oil would be down to $50 instead of $150,” Trump says. There’s already far too much oil on the markets, and anybody in the oil business knows it. “They don’t know what to do with it,” Trump told Fox. “If we got rid of this war, and we got oil down, this country would be unbelievable,” he said. As for the $700 billion bailout, Trump is resigned that some kind of assistance for the banks will have to be arranged, calling the current market the “worst the country has seen since 1929.” “It’s sad but it’s probably something that has to get done. The financial system is going to come to a halt. It’s a sad day for the country,” Trump said. “Maybe things go to hell anyway. Nobody really knows what is going to happen.”

metalman108 MSN said...

no problem with trump, he's got problems big time, just getting rent for his buildings oil dropped today dumping money into gold, yes oil and gold is the safety net rite now. as for trumps 50 a barrel good for america, very bad for canada the costs for getting out of alberta oil sands, looking at history it looks the same we are going into hard times again. a major meltdown on the stocks today, just the interest is 400 billion a year that america has to pay out.

biking2006 MSN said...

Worth a look-see.
Bill (Second Avenue)

Community Reinvestment Act of 1977.


www.federalreserve.gov/newsevents/testimony/braunstein20080213a.htm

fresco750 MSN said...

TOP TEN THINGS TO DO WITH YOUR 401(K) MONEY

10.  Let Casino de Montreal hold it...they're not going to give it to anybody

9.    Invest it in China...they're going to own us anyway

8.    Enjoy dinner for two at Magnan's

7.    Invest in the pharmaceutical company that owns Xanax

6.    Two Words:  Beer and cigarettes

5.    Hire a lobbyist (Do they ever work for 'just the people'?)

4.    Buy a politician...they're real cheap right now

3.    Move to Costa Rica

2.    Can you buy "pasts" instead of "futures"?

1.    Wipe your ass!!

cookie3261 MSN said...

Hi there Metalman...,.... It's the Political Leaders that are causing people to panic , no wonder the stocks are in the shape their in...............there is no need for this panic, the Media and Political people have caused this uproar in Canada..............everything will be fine or I'll eat my hat.......  I think if you have RRSP's, they are only down 10% at this moment........but don't quote me.......   Anywho, all will be fine...................   cookie

metalman108 MSN said...

hi- cookie   its better to sit with people and discuss whats really going on out there. hard for me to write, but here goes, first happy about your rsp thats good news compared to the others. i've wrote for several years about metals, gold, silver, oil, i got bashed as normal but those that listened did very well. as for investments, trusting banks, investment companies, credit card companies loan companies etc, even our political people. all my rsp's and investments are like most are down down and will keep going down till nothing is left, sorry but its the truth. i've lost more trusting these people, the laptop on my side with internet has the answers. i wrote about housing in alberta and the collaspse coming, oil today 77 a barrel it will drop to 50 a barrel, rite now  investors are shared to invest anymore. look at the history, its coming back much much more worst. america today is 10 trillion in debt, all world banks are going down there's a big reason we have this election so fast, hope i'm wrong but its here alreaddy. like myself owning a business with good workers, and thousands of small business owners. are feeling the pain, yes laying off good workers that we had a hard time to find and hire. we have gatherings and talk its slow, most people don't care until they lose there job then they find out the truth. if you are in area with lots of jobs, most don't care about the others, i remember back in alberta in 1977, eveyone saying lets easterns freeze in the dark, then 1980 it collapssed. myself in calgary i lost more than my dad made all his life back then. back home in verdun broke , ashamed at myself, today i learned its those that you think are for us. everything will be fine, its to live back the days of saving, paying what you really need get rid of crdit cards, most this bs on housing prices?? so many young couples slaves to a home, and credit cards yesterday with a small business owner at 73 years old, said to me a poor family buying a castle. go to you tube and find ron paul, this man is for the people, maybe steve or a member can post his stuff??? you need to educate yourself with the internet to understand.                                    

les__f MSN said...

I think your right about this election call Walter (metalman),it was called despite predictions of another minority most likely, So it wastes Millions of dollars to obtain the same outcome,However the present Govt' knows that the economy is weak ( to say the least)_ and they would have faced the election at the end of their origianll mandate & it would have been right in the middle of next year ,when we will be in far worse conditions than they admit to. Get out of debt is the right advice & your right on there too, Insteada of young people buying the big patment for their house & car or truck & all the new hdtv tech stuff,..they may have to face the reality that a 10 year old decent vehicle that they can own free & clear ,will be a better bet ,at least until a definite up[swing in world economy happens.....Live within your means ,right now a lot of people are living the 'keep up with the Jones' life ,and the reality is the Jones are Broke..............................HF&RV Many are living the 'fake it ,till you make it, life,One thing though is this will be a goood learning experience for many of the younger people ,who will hopefully learn from this & make better choices later on when things turn around again.......and the will.                                  

metalman108 MSN said...

a little update, for years the gold and silver vendors were quiet, the phones were quiet. today the phones ring ring ring, from all over canada & usa, even calls from europe. even our canadian mint is empty, there excuse you have to wait several months??? there is no physical metals of gold or silver, its all gone, or if you want to pay much over the price. did you know india has the 1/2 the gold in the world, that means they are the richest in the world, yet only only very few know this. central banks are scared for people to know this. as for our goverment, canada sold all our gold  resvere years ago, as england did also, for some reason asia and india bougth it at aprox 280 a ounce. today golds 1000+ a ounce if you can find it. keep away from, etf stocks, just keep away from paper, we have tons of to much worthless printed paper money. in the next few months all goverments will decide to clean up the mess they did and have the so called amero dollar??? today the asian markets will open, this will tell us whats going to happen for tuesday openning of canadian and usa stock exchange. will it crash  more or will it stay the same??? we are a nation of borrowers as for asia, india they have wealth in there banks. also the countries with oil, the countries were they pay low wages and just turn the tap on. over here the oil sands, because of labour, quipment etc it costs investors aprox 47 dollars a barrel to get the oil out of the sands. hope that oil stays at 77+ if it drops to 50, don't forget america takes 80% + of alberta oil. if iran, irag, make peace they will just turn the oil tap to usa very cheap per barrel. always keep a open eye in todays and the future for our children. we have to build trust, personnal responsibility, most a new education system teaching our children about money and business.          

metalman108 MSN said...

les as always you have good posts, what can our goverment do?? all finicial goverments g7 or the 20 countries are in washington, france today looking at the mess they did. we aren't the world power anymore sorry, we are on knees to asia, russia, india even iran, middleast.  you don't see these power houses of wealth going to wall street to buy out leahmans, at fire bargin prices???? as for AIG, china, cayman islands, india, thailand had major shares in aig, so usa had no choice to bail out aig. all our goverments can do, is tax us more, inflation is forgottten now, but its rite behind us people thinking goverments are going to help us out, they got there pockets filed up look at leahman ceo, got 480 million payout??? AIG had a little party on 400k+ thats on the average joe 6 pack back. how can we compete with high wages, healthcare, housing, welfare, goverment grants, our competion has none of those, so how can you compete. rite now india and china are in africa, slave labour big time, taking all the resources.

metalman108 MSN said...

in closing, the wealthest banks in the world, our goverments watching out for us first we lost our savings, rsp's in value, housing will go down, now the banks crashed canada dumped billions into our canadian banks last week. for those that didn't know. now we as tax payers are bailing them banks out, there is something wrong here canadian banks also invested into the housing market in usa. thats it for now  

metalman108 MSN said...

well, just like the past??  oil dropped to 66.78 a barrel, gold 730.50 silver 9.54 not good news for canada's oil industry. canadian dollar .799?? even our msn crashing-- microsoft to ditch msn groups closing february 21, 2009 replaced with a new service windows live groups november 17??? wonder what is the cost or is this service free. time will answer that question