More bad economic news... and a warning??

[Bill Foster]

I don't understand what all the worry is about. It's not like our gubment would incite riots, disarm us, and allow China to come in and take over to protect their investment. Would they?

[Knobster]

Lived in some, we keep losing the middle class and we will know sooner than later.

Losing the middle class? What on Earth are you talking about? Just look at my checking account and you will see... oh.. crap. Now I get it.

The bad news is indeed everywhere. I'm noticing more and more people discussing it but I've yet to hear anyone mention anything about preparing. Oh they'll mention cutting back on some things and going to Walmart but that is about it. I'll casually throw out a few little tidbits to see if I get a response but so far, only nods and "Yeah, I should do something like that". Apparently the news isn't bad enough yet.

[nickmimi]

worrisome times ahead

[Matt In Oklahoma]

but eventually we'll know what living in a 3rd world country is like

Lived in some, we keep losing the middle class and we will know sooner than later.

[crossbow]

they won't default, but it would be a good thing if they done it now. they'll vote to print more money and kick the can down the rd til after the 2012 election, that's all the people who selected Obama to be pres want. after the election, we'll all go down, well not the preppers til a litle later, but eventually we'll know what living in a 3rd world country is like

[Rmplstlskn]

The real pain and suffering will be gradual, then like a cliff, it will all come apart quickly and violently. We are just seeing the iceburgs that were once small and distant becoming large and unavoidable... We haven't hit one yet as the "crew" tries like mad to navigate around them, but they cannot for long and they refuse to believe they steered us into the ice field in the first place... But when one hits, we will FEEL it and know it... So know where your emergecy lifeboat is now and make sure it is ready...

Rmpl

[ibetiny]

I am worried by all this talk about the economy and debt and default. I think 2012 is going to be very interesting. Tea Party = Repub victory = austerity cuts = Dems pulling race card = riots = ? I am going to put my family into a kind of yellow alert type of awareness. Nothing changes except a closer eye on the news and our selves when out and some spending changes. Had a panhandler offer to "help" my wife with our children into one of the local coffee houses the other day. Wonder if he knows how close...... well never mind.

Now, my only question is do I bury all those 55 gal drums full of food or do I just move them to the garage for easier access? One thing I am going to do is go ahead and fill up some 55 gal drums full of water. Have them set aside dry, but now I think it's time.....

I just hope it holds off long enough for my youngest to get on solid food.

[Lowdown3]

http://www.cnbc.com/id/43328325

US Is Nearing Even Worse Financial Crisis: Jim Rogers
Published: Wednesday, 8 Jun 2011 | 5:16 PM ET
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By: Margo D. Beller
Special to CNBC.com

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Jim Rogers
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Jim Rogers
The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.

"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt......

read the rest at the link

and

http://news.yahoo.com/s/nm/us_usa_debt_bondholders

hina warns U.S. debt-default idea is "playing with fire"
Reuters

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