My husband is an accountant that audits subsidized housing. He works with bankers all the time. I'm naturally frugal, but right before the market news broke, my husband paid off everything he could, and refuses to spend an extra penny right now. He just says it's bad. He says I wouldn't understand the accounting, but he wants to double up for awhile and eliminate all credit cards. He drained our savings and dumped it on things we owe.
He's also on a news boycott. He won't watch it and doesn't want to hear about it. If it's on a TV, he mutes it if he's in the room. He's completly backed off from the politicians.
During the depression, the "rich" were those who had no debt. Everyone else lost everything.
Fanny and Freddie are safe. They have tax slave money at their disposal. Because they're part government, they'll survive on our wages while everyone else fails. That's why this "suicide" seems so odd. The government always feeds itself first.
Right with ya. About July of last year, I had a conversation with my wife about hunkering down. I told her that something bad was coming down the road, but I didn’t know what it was. Initially she was skeptical (natch), but when the poop hit the propeller, we were in good shape. Lost a LOT of money on paper, but other than that, doing OK. Not an accountant, but took lots of accounting for my own good in college. Paying off big time now. We live in hurricane country and are no strangers to short and long term disruptions.
Also, yes the suicide seems odd, but if it weren’t for the Vince Foster incident, there would not be so much suspicion. If it quacks like a duck.......
RE: “My husband is an accountant that audits subsidized housing. He works with bankers all the time. I’m naturally frugal, but right before the market news broke, my husband paid off everything he could, and refuses to spend an extra penny right now. He just says it’s bad. He says I wouldn’t understand the accounting, but he wants to double up for awhile and eliminate all credit cards. He drained our savings and dumped it on things we owe.
He’s also on a news boycott. He won’t watch it and doesn’t want to hear about it. If it’s on a TV, he mutes it if he’s in the room. He’s completly backed off from the politicians.
During the depression, the “rich” were those who had no debt. Everyone else lost everything.”
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Thank you for this extremely informative and candid post. I agree with your husband about not accruing any debt now. Does he think those of us with some cash sitting in bank accounts should pull it all out and hide it elsewhere, or will our cash in those accounts be safe enough and/or not ‘stolen’ by Obama and his thieves? Any tips will be greatly appreciated.