Suzy Ormon on Oprah Today

[rAcErRicK]

I know this is preaching to the choir. This is what BHM people are already doing, but it was good to hear someone telling it like it is. She said: "This is what I've been telling you people for ten years now, this thing is going to be every bit as bad as the 1929 crash, dump those credit cards now, pay them off ASAP, and if you can't pay for it, don't buy it !" "Be absolutely certain that any funds you have are FDIC insured!"

I am not an expert on the matters, but I have a lot of respect for this lady, she tries very hard to help single women, especially Mothers, and even married women to prepare themselves for their future.

[TheUnboundOne]

Dear rAcErRicK,

The only objection I would have is to the last bit of advice. The FSLIC didn't have enough funds to pay the auditors during the Savings and Loan crisis of the late 1980s and I seriously doubt that the FDIC has enough money to insure the accounts of banks...unliess, of course, it comes from taxpayers or is borrowed from the Federal Reserve.

[johnjmw]

The FDIC has plenty of money..... they have 99 years to pay you your money according to what I've read. How much would they have to pay yearly to make that happen??
Just a thought.
John

[rAcErRicK]

Wow, didn't know about that John. Well, I ain't got that much time. :D So, maybe I'd better make a few changes in my thinking. :P

[walls0stone]

If the markeet crashed, and you had 200 caned beats, what do you think they would be worth? Lots of people have gold, gold is something you can sell over seas....so if your ready on a basic level...I think this could be the tables turning....and please..no sillyness about people rushing to the country to kill us and take our canned beats. How will they get here....walk?

[rAcErRicK]

WallsO, what the hell are you talking about ? I don't understand any of that ? :D

[walls0stone]

I'm sayin if the markeet based on paper money and credit cards were to fall apart, a person who had plenty of what we realy realy need in life could pay off debts with the things they aquire from those who were not preped' *so if you have tons of stuff canned, and some guy who is very very hungry came to you and said, how much for some food.......you could get a gold watch ( valuable item no matter what country your in) for X amount of food....

If his dollar were of no value at all, he'd still have something to give you for what you put in the root celler.

I'm also saying don't tell me stories about all the city people come'n to take it by force...they can't

[cinok]

I agree with if you dont need it dont buy it But I disagree about paying off the credit cards unless you have surplus cash on hand and your secure in your job. Also with the way the credit card companies are lowering limits and closing acounts I think it is important to keep some open. Mind you if you have low limit cards with high rates then yes take care of these.

[rAcErRicK]

I agree with if you dont need it dont buy it But I disagree about paying off the credit cards unless you have surplus cash on hand and your secure in your job. Also with the way the credit card companies are lowering limits and closing acounts I think it is important to keep some open. Mind you if you have low limit cards with high rates then yes take care of these.
Agreed Cinok, as I said, she wasn't really speaking to many folk on this board, but it was the warning that really hard times are just around the corner was my main reason for posting it. She was really speaking to those who have abused cards and were head over heals in debt to them. And there was a warning about not feeling too secure in any job. Of course some will be more secure than others, but many will go away, as times grow harder.