Bullneckblog - Do the Collapse

Bullneckblog

Dispatches from the Goonited States

Do the Collapse

29th-Sep-2008 06:43 pm [friggin clownshoes, game of life, politika, wtf?]

Wowsers, what a series of completely messed-up days in news and current events. Each morning I wake up and think, 'Hmm, there's no possible way the day's news could get any more surreal or distressing.' And then of course it's another round of more horror-show insanity (Oh, there's no gasoline available in major sections of Suthron Sector, like Nashville and Atlanta! There are only three major banks -- JPMorgan Chase, Bank of America, and Citigroup -- left in the whole country! There's still a possibility of 'President Palin'!) and new surprising glimpses into how various powerful folks in New York and in the White House and the Capitol have about the same intelligence and personality traits as first-graders. I guess this shouldn't surprise me, since elements of decline and general Third World-level ineptitude have been apparent in our society for years now, but the rapidity into which it's all clustering together in one slamdunk mass of suckage is indeed rather eye-opening. And not in a terribly amusing way as it all snowballs toward some unseen result.

The upside, I guess, is watching CNBC investo-screamer Jim Cramer -- who I think is one of the most obnoxious douchetards ever -- devolve into a blubbering mass of apologies and red-eyed mea culpas on semi-live tee-vee. It's not as good as him being shot into space with O'Reilly, O'Donnell, and every person who's ever competed on a reality show but it's a start, and good news seems to be a rarity these days.

Comments

29th-Sep-2008 11:18 pm (UTC)

A friend of mine's company just folded today due to their continuing lack of ability to secure credit to fund operations that are of a cyclical nature.

29th-Sep-2008 11:42 pm (UTC)

Yikes, sorry to hear; is 'cyclical in nature' more literal than I want to think it is?

On a similarly dour note, a coworker today mentioned her father's small business in Ohio being unable to procure loans, which, if not addressed, will start to affect operations and pay days in about four weeks. She was pretty freaked.

29th-Sep-2008 11:55 pm (UTC)

A lot of small businesses are seasonal. They have to outlay a bunch of money to purchase things in bulk that may not be delivered or sold until later that year, (read Christmas) It doesn't make sense for them to stockpile money so instead they get seasonal loans to purchase goods.

The business credit market has essentially dried up, so they couldn't get a loan, which meant they weren't able to purchase their goods earlier this year which means that come Christmas time they won't have goods to sell. This causes a positive feedback loop which essentially drove them bankrupt

Now unfortunately, not only are they out of business, but their suppliers who were expecting to make the products they were going to sell now have lost out on the money so they go out of business, etc. There's a huge domino effect rippling through the global economy right now that is threatening to plunge us all into the worst economic collapse ever.

30th-Sep-2008 01:03 am (UTC)

Ugh. Let's hope Congresscritters gets their heads out of their asses soon enough to prevent a complete meltdown.

30th-Sep-2008 03:35 am (UTC)

Yeah, the market lost 1 trillion in value today. That one trillion includes money out of people's IRAs, 401Ks, savings, etc. The 70B is going to look like chump change soon.

30th-Sep-2008 04:15 am (UTC)

I'm glad I'm in my 20s -- if I was 50+ I'd be ready to hurl bricks at the next Congresscritter I spotted. My 401k will have time to recover (in theory anyway) but a lot of folks' won't. What happens to them?

I will enjoy seeing what happens on Thursday when the House reconvenes. Not that I expect much better behavior, but it's always fun to see them and their Congresslackeys sweat a bit more and use up their precious 'vacation session' time.

29th-Sep-2008 11:27 pm (UTC)

It's bad. We will get through it. Keep your government pension/retirement stuff as high as you can like I have kept my "non-profit" institution's retirement plan as high it can be. Then save, invest, and spend when you can. Cheers!

29th-Sep-2008 11:45 pm (UTC)

I'm still trying to wrap my head around if things are as dire as people say, but the way DC folks appeared so spooked during my late lunch break, it looked as if someone had announced a horde of zombies were about to bust through the Beltway and it was kind of mind-blowing.

In terms of my Federal 401k ('Thrift Savings Plan'), I take it your advice is to increase its investment amounts while the market tumbles low? If that's the case, I'm thankful I kept its investment ratio low during the 14,000 mark of last October's Dow(!).

2nd-Oct-2008 03:15 pm (UTC)

southernologist

People like to panic, especially in the 24-hour news era. I wouldn't worry about it too much, just yet.

When the fit hits the shan, you'll know when that happens, and when to start worrying. That's when this starts to lose its entertainment value. When the anxiety filled drama of it all is replaced by the real terror of losing your lively hood and your savings, and when that terror is replaced with the dull soul-bruising feeling that the 'good times' are gone.

Don't get me wrong, I think we have things to worry about losing. I think we'll have to worry about not being able to take multi-thousand dollar vacations cross-country or overseas. I think we'll probably have to worry about not being able to afford that extra late, the new flashy iPhone, or being able to eat at a $50.00+ a plate restaurant.

I think we'll lose a lot of things before this is 'all over.' But do I think we'll see 20+ per cent unemployment rates with impending armageddon? Nope. I think we'll still have very rich lives as Americans compared to many other nations on earth. We'll have what we -need-, with a few luxuries on the side.

/gives everyone a hug. It'll be okay. :)

On the other hand, if it all does go to h*ll, what can we -really- do about it? :) Might as well try to live your life and not worry.

2nd-Oct-2008 03:48 pm (UTC)

I'm not super worried -- but the economic news piled onto the election craziness piled onto such strange tidbits (like the has shortage in the South) really has me a bit antsy. I'm sure it'd only going to get even weirder from hereon :-p

29th-Sep-2008 11:44 pm (UTC)

foodpoisoningsf

You'll always have police.

29th-Sep-2008 11:49 pm (UTC)

As long as there is some sort of organized authority, yes. Should I expect another upside to the chaos to be a return of full Depression-era uniforms, replete with standard patrolmen boots, breeches and Sam Browne belts? Cuz that would also be a little silver-lining news I could use.

29th-Sep-2008 11:50 pm (UTC)

I dunno, Mad Max here we come.

30th-Sep-2008 12:00 am (UTC)

Well, those full leather uniforms do look kinda swell at least. Maybe I will best position myself in the post-econopocalypse world as lead goon-aestheticist. That'd be lemonade I could live with.

30th-Sep-2008 12:29 am (UTC)

pensivegargoyle

Every Nazi needs his Hugo Boss. :)

30th-Sep-2008 12:55 am (UTC)

Amazing that Boss designed their get-ups, no? Still shocks me a bit.

But I like to think of myself as a bit more whimsical than him. Plus most of his SS models were stringbean effetes, and that's just unAmerican! :-p

30th-Sep-2008 10:43 pm (UTC) - Which way does that thing rotate?

Ernst Rohm was gay as a goose. Night of the long knives took care of that.

Interesting that Hitler's beloved symbol was hijacked and turned around to rotate to the "left". Hmmmm. Nah.

Teddy Roosevelts uniforms were all Brooks Brothers!!

1st-Oct-2008 02:23 am (UTC) - Re: Which way does that thing rotate?

Heh. One of my high school history teachers was fond of Teddy and often told (what I presumed to be apocryphal) tales of TR and his buddies from the NYPD Mounted Unit walking into Brooks Bros. and getting custom tailored get-ups for their participation in the Spanish-American War's invasion of Cuba.

30th-Sep-2008 12:39 am (UTC)

foodpoisoningsf

Did I ever (with you) employ the term "police buff"? It was a term my father used to describe the men he'd meet who supported police organizations and individuals with small gifts and a lot of enthusiasm. A more current term might be "groupies."

30th-Sep-2008 01:00 am (UTC)

You haven't mentioned it, but I have heard the term from some of the cops I've met who've sort of used the term in reference to me. The same cops, though, also said I was rather level-headed about it.

I think it might help that it's not like I like any boy with a badge -- just the bigguns :D

30th-Sep-2008 03:37 am (UTC)

Badgebunnies is what we usually call them, but that's usually aimed at females.

30th-Sep-2008 04:09 am (UTC)

I know a woman in MA who prefers the term 'bootbunnies,' as she only likes motorcops.

Alas, I know exactly the downside that comes with any such label, and thus I play it cool when dealing with most lawmen who know my game. Adding to the supposed stereotype would not help things -- but besides, again I'm pretty specifically demanding! :-p

30th-Sep-2008 12:42 am (UTC) - Oh Brother, where art Thou

Perhaps the new campaign slogan should be "Brother can you spare any change you can believe in?"

30th-Sep-2008 01:05 am (UTC) - Re: Oh Brother, where art Thou

True story: I've already overheard some snarky folks already yelling back at panhandlers that they don't have change, but Obama does. It does not go over well.

30th-Sep-2008 07:25 am (UTC) - Re: Oh Brother, where art Thou

Hmmm...got remember that one. :-)

30th-Sep-2008 12:02 pm (UTC)

surf_teddybear

being in Atlanta now kinda feels like ground zero for a big part of this.

30th-Sep-2008 01:31 pm (UTC)

Yeah it sounds pretty crazy down there!

30th-Sep-2008 10:48 pm (UTC)

Not bad. Just bad logistics on the part of the distributors. They're used to dealing in gas glut. Got much better today. No premium though. They didn't bother to look at the volume of sales and just made their regular deliveries. The far burbs had plenty, the inner city, little.

But we're the capitol of home loan fraud. Our favorite little den for that sort of thing — Vine City. A slum just west of the Georgia Dome. Spittin' distance from Olympic park.

30th-Sep-2008 01:42 pm (UTC)

furmuslbulk

what did Kramer apologize for? He's been saying "I told you so!" for months now!

30th-Sep-2008 01:59 pm (UTC)

Last night he was specifically apologizing for his failure to see the Wachovia collapse/buy-out coming down the pike because he was buddy buddy with its CEO.

30th-Sep-2008 10:51 pm (UTC) - Time to remember

Wachovia (Walk all ova' ya') was bought a few years ago by First Union. Who really wanted the name and the image as much as not. But the rebranded combo assumed the personality of First Union. Not at all like the original Wach. Sad for the employees though. I'm probably bailing on them to my bank in San Antonio. Yee ha.

1st-Oct-2008 02:24 am (UTC) - Re: Time to remember

I'm just glad I closed down the account I had in WaMu last year and now use a Federal/military credit union for my banking needs.

30th-Sep-2008 10:50 pm (UTC)

scouserugger

Bit different over here in the U.K. as our government doesn't have to get the bail-out of a bank past our parliament, the Prime Minister can just decide to go for it - as has happened twice, a few months ago with Northern Rock and yesterday with Bradford & Bingley.
From this side of the pond it looks as though some congressmen are saying "no" because they believe they are right, but it also looks as though some are just using this situation to give Dubya a hiding. What they don't seem to care about is the mess they may leave for Obama or McCain to have to sort out. Correct me if I'm wrong here guys ?

30th-Sep-2008 10:55 pm (UTC) - Oh so right

They are playing politics with this on so many levels. About 700 billion levels of politics. You're lucky we're down wind from you.

This all started under Clinton in an effort to extend home ownership to "disadvantaged" and it led to massive abuse. But everybody since then has been asleep at the switch.

Lots of blame to go 'round. I want arrests and perp walks. Preferably with some of Bullnecks photo subjects as the arresting officer.

1st-Oct-2008 02:28 am (UTC)

The failure of the bailout bill in the House yesterday really comes down to two main issues: 1) No one in either party much trusts the White House or its secretaries (with ample good reason); and 2) As yet, due to the election year shake-up and the generally crummy quality of most US politicians, there are no real solid centers of authority or political leadership in either party. What this means is that there's no one really in charge or with the power, influence, or charisma to move a body as diverse as the House into a concrete agreement; this all could change though if the Senate comes through tomorrow with a sustainable bill and affirmative vote.

1st-Oct-2008 05:23 pm (UTC)

scouserugger

Got to be honest, I don't think it's reported over here just HOW serious things are over there in the U.S. We know about your banks but we're not hearing much about the knock-on effects such as other businesses going bust. That's the parochial nature of the U.K. media, anything outside the U.K. is either ignored or begrudgingly reported, for instance reports on Freddie Mac and Fannie Mae tended to revolve around how funny their names are. I'm afraid that's the level of reportage we're talking about guys.

2nd-Oct-2008 03:46 pm (UTC)

The US media isn't doing a very good job in and of itself. As I like to say, 'It's not news -- it's CNN!'

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