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The Next Financial Crisis

Topic closed. 16 replies. Last post 6 years ago by kapla.

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Nino224's avatar - Lottery-013.jpg
Miami
United States
Member #62793
July 9, 2008
673 Posts
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Posted: December 20, 2010, 12:21 pm - IP Logged

There was a story on 60 Minutes last night about another big financial meltdown less than 12 months away that will be worse than the one we're getting out of. Apparently most states and municipalities are broke and will be defaulting on loans, and won't be able to pay their employees. The cause is decades of irresponsible spending and inflated pension benefits. Illinois' case is especially troubling. In Illinois, gas stations refuse to accept state credit cards from troopers filling up their service vehicles. CA spends twice as much as it takes in, and the list goes on and on. The fear is that another bailout will be required, which of course the govt. doesn't want and can't afford.

My question is this: If a state reaches that breaking point where it has to shut down, is there some fine print somewhere that says it can seize lottery funds and prizes?

"...a chance to push everything aside, the circumstances that've controlled our lives, and do it our way now. Good, bad or otherwise. You'll maybe get lost in it, tied up in it a little bit, but if you work your way through that the real you shows up, I think. Maybe what's at your core deep down, maybe that comes out. Maybe that's what it's about." Mike Pace 

    hearsetrax's avatar - 0118

    United States
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    May 21, 2007
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    Posted: December 20, 2010, 12:57 pm - IP Logged

    Eek <insert theme from the twilight zone> Eek

      Nino224's avatar - Lottery-013.jpg
      Miami
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      Posted: December 20, 2010, 1:15 pm - IP Logged

      Okay then.

      "...a chance to push everything aside, the circumstances that've controlled our lives, and do it our way now. Good, bad or otherwise. You'll maybe get lost in it, tied up in it a little bit, but if you work your way through that the real you shows up, I think. Maybe what's at your core deep down, maybe that comes out. Maybe that's what it's about." Mike Pace 

        savagegoose's avatar - ProfilePho
        adelaide sa
        Australia
        Member #37136
        April 11, 2006
        3301 Posts
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        Posted: December 20, 2010, 2:41 pm - IP Logged

        i think annuities are invested in state muni bonds

        :o

         

        i mean

         

        Eek

        2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

        keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

          Nino224's avatar - Lottery-013.jpg
          Miami
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          July 9, 2008
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          Posted: December 20, 2010, 3:08 pm - IP Logged

          i think annuities are invested in state muni bonds

          :o

           

          i mean

           

          Eek

          Which is what they're gonna default on.

          "...a chance to push everything aside, the circumstances that've controlled our lives, and do it our way now. Good, bad or otherwise. You'll maybe get lost in it, tied up in it a little bit, but if you work your way through that the real you shows up, I think. Maybe what's at your core deep down, maybe that comes out. Maybe that's what it's about." Mike Pace 

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
            United States
            Member #30470
            January 17, 2006
            10355 Posts
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            Posted: December 20, 2010, 11:56 pm - IP Logged

            Yet another reason to go for the cash option!

            Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

            Lep

            There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

              Nino224's avatar - Lottery-013.jpg
              Miami
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              Posted: December 21, 2010, 3:05 am - IP Logged

              Yet another reason to go for the cash option!

              And putting some of it in a bank overseas!

              "...a chance to push everything aside, the circumstances that've controlled our lives, and do it our way now. Good, bad or otherwise. You'll maybe get lost in it, tied up in it a little bit, but if you work your way through that the real you shows up, I think. Maybe what's at your core deep down, maybe that comes out. Maybe that's what it's about." Mike Pace 

                sully16's avatar - sharan
                Ringleader
                Michigan
                United States
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                October 28, 2009
                40611 Posts
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                Posted: December 21, 2010, 7:42 am - IP Logged

                There was a story on 60 Minutes last night about another big financial meltdown less than 12 months away that will be worse than the one we're getting out of. Apparently most states and municipalities are broke and will be defaulting on loans, and won't be able to pay their employees. The cause is decades of irresponsible spending and inflated pension benefits. Illinois' case is especially troubling. In Illinois, gas stations refuse to accept state credit cards from troopers filling up their service vehicles. CA spends twice as much as it takes in, and the list goes on and on. The fear is that another bailout will be required, which of course the govt. doesn't want and can't afford.

                My question is this: If a state reaches that breaking point where it has to shut down, is there some fine print somewhere that says it can seize lottery funds and prizes?

                The last thing I would be worried about is the lottery prize payout. you might want to learn how to hunt and fish, how to grow and can your own food , how to clean drinking water. What kind of things can you stock up on to barter with?

                Did you exchange a walk on part in the war ?

                For a lead role in a cage?

                 

                                                            From Pink Floyd's " Wish you were here"

                  Nino224's avatar - Lottery-013.jpg
                  Miami
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                  Posted: December 21, 2010, 10:05 am - IP Logged

                  The last thing I would be worried about is the lottery prize payout. you might want to learn how to hunt and fish, how to grow and can your own food , how to clean drinking water. What kind of things can you stock up on to barter with?

                  You sound a lot like Raven. I wasn't really looking for survival advice.

                  "...a chance to push everything aside, the circumstances that've controlled our lives, and do it our way now. Good, bad or otherwise. You'll maybe get lost in it, tied up in it a little bit, but if you work your way through that the real you shows up, I think. Maybe what's at your core deep down, maybe that comes out. Maybe that's what it's about." Mike Pace 

                    Raven62's avatar - binary
                    New Jersey
                    United States
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                    June 28, 2005
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                    Posted: December 21, 2010, 1:11 pm - IP Logged

                    There was a story on 60 Minutes last night about another big financial meltdown less than 12 months away that will be worse than the one we're getting out of. Apparently most states and municipalities are broke and will be defaulting on loans, and won't be able to pay their employees. The cause is decades of irresponsible spending and inflated pension benefits. Illinois' case is especially troubling. In Illinois, gas stations refuse to accept state credit cards from troopers filling up their service vehicles. CA spends twice as much as it takes in, and the list goes on and on. The fear is that another bailout will be required, which of course the govt. doesn't want and can't afford.

                    My question is this: If a state reaches that breaking point where it has to shut down, is there some fine print somewhere that says it can seize lottery funds and prizes?

                    Fall Victim to The "New Depression", or Survive And Thrive? (Winning a Jackpot will be the least of your worries!)

                    It is at critical times like this, when history is in the throes of "rewriting" the established order of things, that you need to keep your head and think seriously about how you intend to survive. Not everyone is so concerned though. The majority of folks will sit in front of their TVs, read their newspapers, go to work, and carry on living as if nothing is happening,  totally oblivious to the financial "hurricane" bearing down on them. I'm sure that does not include you.

                    The mass media, political leaders and various opinion makers will continue to utter smooth words of assurance, not wanting to cause panic or frighten the horses. And they will do so right up until the financial storm hits, when they will express surprise that such a thing could happen. But you cannot afford to wait, unconcerned, then wake up one morning to hear about such an event after it has already hit. No, the only sane course of action is to become informed as to exactly what is happening, and to how best prepare yourself for it.

                    http://www.uncommonwisdomdaily.com/wp-content/uploads/2010/02/UWD0009-Financial-Crisis-Survival-Kit.pdf

                    A mind once stretched by a new idea never returns to its original dimensions!

                      time*treat's avatar - radar

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                      Posted: December 21, 2010, 2:06 pm - IP Logged

                      The last thing I would be worried about is the lottery prize payout. you might want to learn how to hunt and fish, how to grow and can your own food , how to clean drinking water. What kind of things can you stock up on to barter with?

                      I like your thinking. Wink

                      In neo-conned Amerika, bank robs you.
                      Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.


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                        Posted: December 21, 2010, 2:32 pm - IP Logged

                        If a meltdown happened, the first thing I would wonder is what Britney Spears is up to....

                          sully16's avatar - sharan
                          Ringleader
                          Michigan
                          United States
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                          October 28, 2009
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                          Posted: December 21, 2010, 8:26 pm - IP Logged

                          You sound a lot like Raven. I wasn't really looking for survival advice.

                          my bad..

                          Did you exchange a walk on part in the war ?

                          For a lead role in a cage?

                           

                                                                      From Pink Floyd's " Wish you were here"

                            sully16's avatar - sharan
                            Ringleader
                            Michigan
                            United States
                            Member #81740
                            October 28, 2009
                            40611 Posts
                            Offline
                            Posted: December 21, 2010, 8:28 pm - IP Logged

                            Fall Victim to The "New Depression", or Survive And Thrive? (Winning a Jackpot will be the least of your worries!)

                            It is at critical times like this, when history is in the throes of "rewriting" the established order of things, that you need to keep your head and think seriously about how you intend to survive. Not everyone is so concerned though. The majority of folks will sit in front of their TVs, read their newspapers, go to work, and carry on living as if nothing is happening,  totally oblivious to the financial "hurricane" bearing down on them. I'm sure that does not include you.

                            The mass media, political leaders and various opinion makers will continue to utter smooth words of assurance, not wanting to cause panic or frighten the horses. And they will do so right up until the financial storm hits, when they will express surprise that such a thing could happen. But you cannot afford to wait, unconcerned, then wake up one morning to hear about such an event after it has already hit. No, the only sane course of action is to become informed as to exactly what is happening, and to how best prepare yourself for it.

                            http://www.uncommonwisdomdaily.com/wp-content/uploads/2010/02/UWD0009-Financial-Crisis-Survival-Kit.pdf

                            Plan for the worse and hope for the best.

                            Did you exchange a walk on part in the war ?

                            For a lead role in a cage?

                             

                                                                        From Pink Floyd's " Wish you were here"

                              sully16's avatar - sharan
                              Ringleader
                              Michigan
                              United States
                              Member #81740
                              October 28, 2009
                              40611 Posts
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                              Posted: December 21, 2010, 8:30 pm - IP Logged

                              If a meltdown happened, the first thing I would wonder is what Britney Spears is up to....

                              She'll probably shave her head again and attack someone with an umbrella.

                              Did you exchange a walk on part in the war ?

                              For a lead role in a cage?

                               

                                                                          From Pink Floyd's " Wish you were here"