I've been following this stuff way too closely. And in all the crap, muck and doo-doo i've read, the ARMAGEDDON scenario Bush, Paulson, Frank and others mention is....
"Checks won't cash on Friday."
Bush said it last week, if it wasnt done by Friday night, and someone else has mentioned it again each day. With Sunday night and Monday being the HARD LINE in the sand.
So. Will Borders, Burger King and Macy's have trouble making payroll this Friday?
If retail businesses begin to fail, i believe THEN the average american will wake up and pay attention, they can't all be hatrackian.
I am almost shocked at the number of people who aren't following this at all. Almost.
T
Posted by luthe (Member # 1601) on :
The whole "checks won't cash on friday" thing is hyperbole.
Posted by aspectre (Member # 2222) on :
Yeah yeah..... And "If we don't invade Iraq immediately, Saddam is gonna nuke us." etc ad nauseum
Sheesh, ya'd think the Democrats would've learned better about caving in to Dubya's panic-mongering by now.
[ September 30, 2008, 03:13 PM: Message edited by: aspectre ]
Posted by aspectre (Member # 2222) on :
The biggest robbery in US history, though I'm sure that NativeAmericans and AfricanAmericans would dispute that phrasing.
Posted by aspectre (Member # 2222) on :
It ain't as if we haven't been through this same BS before, several times.
Posted by luthe (Member # 1601) on :
I would dispute that phrasing and I am neither.
Posted by The Rabbit (Member # 671) on :
"Checks won't cash on Friday."
You mean there are still people who stand in line to cash their payroll checks? Who are these ludites who don't use automatic deposit?
Posted by kmbboots (Member # 8576) on :
I was one until this spring. I didn't have a bank account and paid for everything in cash or with money orders.
I don't quite trust banks.
Posted by Nick (Member # 4311) on :
quote:Originally posted by The Rabbit: "Checks won't cash on Friday."
You mean there are still people who stand in line to cash their payroll checks? Who are these ludites who don't use automatic deposit?
Sadly, the company I work for that has a few thousand employees does not offer direct deposit. Posted by Danlo the Wild (Member # 5378) on :
Who owns all the land and the property that was foreclosed?
How many homes and apartments are there in America?
How much of the Land is owned by banks or other?
Will the house loans be rework according to the inflation/deflation?
Why have the churches been as quiet as a church mouse on this crisis?
If yesterday was the panic'd baby boomers selling, selling, selling, was today the 'insiders' buying it all back at 1/2 price?
There is a limited amount of resources on Earth. Odd how entwined we are to something that is so manmade.
I love you. God Bless and Godspeed my brothers and sisters
T
PS. I do believe, in one of the threads from long ago on hatrack, i mentioned that I studied revelations, and after 9/11, my guess was the 'BEAST' mentioned was' The Stock Market.'
Sounds less crazy than OSC's liberal police killing meganaughts from hell, or what ever.
PSS. If the 2nd, 3rd, and 4th, best Democrats they can come up with are Nancy Pelosi, Barney Frank, and Joe Biden.
The bailout blackmail bill is FUBAR no matter what.
PSS. I loved Iron Man too. The Dark Knight and a cool Iron Man movie? maybe there is hope after all
T
Posted by Morbo (Member # 5309) on :
Bush and his cronies have used the "when in trouble or in doubt, run in circles, scream and shout" philosophy of government once too often. I'm glad that terrible bailout bill was voted down.
Perhaps they could roll out a color-coded Economic Panic chart:
Green : all is well, keep watching cable Blue : start withdrawing money and stuffing your mattress Orange: stockpile canned goods and firearms Red : let the looting begin!
Posted by Danlo the Wild (Member # 5378) on :
Is a new form of Corporate insurance a good thing?
Does it make our government smaller?
love the Economic alert chart.
Except Purple instead of Red.
I've been to the doctor once for a check up and had zero tickets or wrecks in a decade. The thousands of dollars I paid car and health insurance? Public charity? Or just shut up and be glad i didn't get severely injured in a car accident?
It all seems like a band-aid any way.
This economy will totally collapse anyway. Eventually.
if you increase the human needs goods and services at 20% to 30%, and keep wages still born for way, way too long, eventually.......
Republicans put in Tax cuts to the "new" bill attempt?
WTF does that mean? 10 trillion dollar debt, a new blackmail bailout with an unknown price tag, and basic costs rising, and oil/energy the x-factor. How can the US government cut taxes when it doesnt have the money to pay for its own services.
Dallas Independent School District just Terminated 164 teachers due to a budget shortfall.
As a writer, who's brain thinks visually, it's hard to stay sober or sane.
Posted by Carrie (Member # 394) on :
Sobriety is highly overrated anyhow. Don't bother.
Posted by luthe (Member # 1601) on :
Higher taxes do not always equate with higher revenue, nor do lower taxes.
(Not to say cutting taxes now is a good thing, or a bad thing, just that the system is not that simple.)
Posted by Danlo the Wild (Member # 5378) on :
If bill does not pass tonight, how much does Stock Market lose tomorrow?
Posted by King of Men (Member # 6684) on :
Well, my paycheck cashed yesterday. Rather too well, in fact. The idiots paid me my summer grant for the second time. So they'll be docking that from my pay for the next few weeks until it's been made up again. Clearly some people don't have a liquidity crisis.
Posted by Irami Osei-Frimpong (Member # 2229) on :
quote:You mean there are still people who stand in line to cash their payroll checks? Who are these ludites who don't use automatic deposit?
*Proudly Raises Hand*
Posted by rivka (Member # 4859) on :
quote:Originally posted by Nick: Sadly, the company I work for that has a few thousand employees does not offer direct deposit.
Many companies don't. My current one does, thankfully.
Posted by aspectre (Member # 2222) on :
Not surprising really. Other than an absurdly small number of exceptions (eg Google and windpower companies), there really hasn't been much actual improvements in either products, efficiency, or profits. Instead cheap credit was used promote "last man out" Ponzi schemes and pension-fund*looting.
* Anytime you hear a CEO use the word 'synergy' in conjunction with 'leveraged buyout','merger', and/or 'relocation of corporate headquarters' what is meant is that executives intend to fire the most senior employees, then pocket the money that would have otherwise gone into retirement accounts.
Posted by Tatiana (Member # 6776) on :
Mine showed up in my account as usual, and seems to be spending just fine. Who cares, anyway? It's never been real, you know? It's just electrons dancing around in some silicon somewhere, or magnetic domains aligned in some molecules. Who trusted in that to start with? Who thought it made any difference?
Posted by Samprimary (Member # 8561) on :
Of course it's real. You can connect it to cheeseburgers.
Like, if I use my debit card to buy a cheeseburger, I can trust the dancing electrons to adjust appropriately towards transferring the cost of that cheeseburger to the company that made the cheeseburger, so by way of dancing electrons I have a testably operating account that measures my net worth in cheeseburgers.
And cheeseburgers are pretty real.
Posted by Farmgirl (Member # 5567) on :
If any of you have paychecks that don't cash (companies that aren't doing good) just thought I'd let you know Wichita, Kansas is pretty much isolated from all the economic woes at this time. Our economy is thriving and growing; all our local banks (which didn't get into the whole sub-prime mortgage craze) are stable and profitable, and giving out loans; unemployement is very low, and the local forecast is for 6200 new jobs in our area in the next 12 months (for population 300,000, that's not too bad). Things are booming. Come live in Kansas. Posted by TomDavidson (Member # 124) on :
No! Never!
Posted by Tatiana (Member # 6776) on :
Cheeseburgers make a good form of currency. If dollars become worthless, as Confederate money did toward the end of the war, then we can always barter in cheeseburgers. Or cigarettes. That way I won't be tempted to consume my savings. Posted by Danlo the Wild (Member # 5378) on :
I am going to get a cheeseburger, to be patriotic, i will add bacon for 50 cents.
Posted by Goody Scrivener (Member # 6742) on :
I can haz cheezburger?
Posted by TomDavidson (Member # 124) on :
Years ago, back when Burger King would regularly have its 99-cent Whopper deals, I found that it was quite useful to express costs in units of one Whopper (on the grounds that two Whoppers were enough food to get a poor college student through a whole day).
Posted by DDDaysh (Member # 9499) on :
Great one Tom!
I'm actually a freak that just got a new job in an industry that's related to finance.
On the other hand, I'm pretty sure everyone's paychecks are going to keep cashing. It's not like everyone in the world is ignoring what is going on. It's just that, well, what GOOD does it do the average person to pay attention? The only thing that will happen is that people will start to panic. Panic is the one thing we do NOT want to begin. Let everyone leave their heads in the clouds. Do what I do and studiously IGNORE what is going on in your 401K. Unless you're retiring in the next 10 years, it's not going to do you any good to cry over it!
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